Jackson Purchase Energy Corporation
- Assets
- $143.6m
- Revenue
- $68.1m
- Investments
- $0.0
- Employees
- 73
- Location
- Paducah, KY
- Founding
- 12/1939
- Data as of
- 12/2021
- EIN
- 61-0236522
Organization Overview
Jackson Purchase Energy Corporation is located in Paducah, KY. The organization was established in 1939. According to its NTEE Classification (W80) the organization is classified as: Public Utilities, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2021, Jackson Purchase Energy Corporation employed 73 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Jackson Purchase Energy Corporation is a 501(c)(12) and as such, is described as a "Benevolent Life Insurance Association, Mutual Ditch or Irrigation Company, Mutual or Cooperative Telephone Company" by the IRS.
For the year ending 12/2021, Jackson Purchase Energy Corporation generated $68.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.3% each year. All expenses for the organization totaled $68.1m during the year ending 12/2021. While expenses have increased by 1.3% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
DISTRIBUTION SALES OF ELECTRICITY TO APPROXIMATELY 30,378 MEMBER OWNERS ON A PATRONAGE BASIS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE ELECTRIC SERVICE TO MEMBER OWNERS ON A PATRONAGE BASIS. SERVE AN AVERAGE OF APPROXIMATELY 30,378 MEMBERS ON A MONTHLY BASIS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Greg Grisson President & CEO | Officer | 45 | $332,141 |
Jeff Williams VP Of Accounting And CFO | Officer | 45 | $178,911 |
Ward Morgan VP Technical Services | Officer | 45 | $152,276 |
James Eric Todd Line Technician | 50 | $146,906 | |
Jason Gipson Substation Crew Leader | 50 | $144,469 | |
Michael Washam Line Technician | 50 | $143,106 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Groves Construction Construction | 12/30/21 | $448,195 |
Cooperative Building Solutions Construction | 12/30/21 | $8,802,291 |
Davis H Elliott Power Line Construct | 12/30/21 | $1,756,437 |
Townsend Tree Service Row Clearing | 12/30/21 | $1,398,893 |
Quality Resources Llc Meter Inspections | 12/30/21 | $411,414 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $67,543,464 |
| Investment income | $54,377 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$568,771 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $68,055,935 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $10,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $1,244,938 |
| Compensation of current officers, directors, key employees. | $738,994 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $6,035,337 |
| Pension plan accruals and contributions | $1,325,944 |
| Other employee benefits | $894,767 |
| Payroll taxes | $662,112 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $124,086 |
| Fees for services: Accounting | $22,250 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $115,408 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,808,503 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,694,286 |
| Insurance | $310,660 |
| All other expenses | -$11,633,399 |
| Total functional expenses | $68,055,935 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,560,370 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,514,191 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $2,202,404 |
| Prepaid expenses and deferred charges | $429,607 |
| Net Land, buildings, and equipment | $123,264,401 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $3,854,966 |
| Intangible assets | $0 |
| Other assets | $3,750,707 |
| Total assets | $143,576,646 |
| Accounts payable and accrued expenses | $5,456,450 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $80,604,178 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $7,131,307 |
| Total liabilities | $93,191,935 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $106,210 |
| Paid-in or capital surplus, or land, building, or equipment fund | $84,952 |
| Retained earnings, endowment, accumulated income, or other funds | $50,193,549 |
| Total liabilities and net assets/fund balances | $143,576,646 |
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Upper Cumberland Electric Membership Corporation Carthage, TN | $208,911,918 | $121,895,944 |
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Salt River Electric Bardstown, KY | $187,060,575 | $114,408,015 |
Southwest Tennessee Electric Membership Corp Brownsville, TN | $219,052,657 | $121,626,016 |
Appalachian Electric Cooperative New Market, TN | $242,163,198 | $119,028,278 |
Jackson Energy Cooperative Corporat Ion Inc Mckee, KY | $284,949,026 | $109,799,636 |
N W Electric Power Cooperative Inc Cameron, MO | $276,321,789 | $107,924,696 |
Central Virginia Electric Cooperative Lovingston, VA | $375,858,912 | $102,220,456 |
Gibson Electric Membership Corp Trenton, TN | $199,281,246 | $104,510,085 |
Holston Electric Cooperative Inc Rogersville, TN | $140,432,181 | $97,958,544 |
Hendricks County Rural Electric Membership Corporation Danville, IN | $222,904,007 | $97,103,288 |