East Kentucky Power Cooperative Inc
- Assets
- $3.8b
- Revenue
- $1.3b
- Investments
- $13.6m
- Employees
- 814
- Location
- Winchester, KY
- Founding
- 10/1958
- Data as of
- 12/2022
- EIN
- 61-0461919
Organization Overview
East Kentucky Power Cooperative Inc is located in Winchester, KY. The organization was established in 1958. 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 12/2022, East Kentucky Power Cooperative Inc employed 814 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. East Kentucky Power Cooperative Inc 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 12/2022, East Kentucky Power Cooperative Inc generated $1.3b in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.5% each year. All expenses for the organization totaled $1.2b during the year ending 12/2022. While expenses have increased by 4.8% per year over the past 8 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
EAST KENTUCKY POWER COOPERATIVE EXISTS TO SERVE ITS MEMBER-OWNED COOPERATIVES BY SAFELY DELIVERING RELIABLE, AFFORDABLE AND SUSTAINABLE ENERGY AND RELATED SERVICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EAST KENTUCKY POWER COOPERATIVE EXISTS TO SERVE ITS MEMBER-OWNED COOPERATIVES BY SAFELY DELIVERING RELIABLE, AFFORDABLE AND SUSTAINABLE ENERGY AND RELATED SERVICES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Anthony S Campbell President & CEO (see Schedule J, Part Iii) | Officer | 60 | $1,530,546 |
Don M Mosier Evp, Chief Operating Officer | Officer | 50 | $769,566 |
David A Smart General Counsel, Retired May 2022 | Officer | 50 | $668,576 |
Craig A Johnson Sr. Vp, Power Production | Officer | 50 | $339,356 |
Denver York Sr. Vp, Power Delivery & System Operations | Officer | 45 | $298,490 |
Mary Jane Warner Sr. Vp, Engineering & Construction | 50 | $297,995 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Charah Llc Construction & Operations | 12/30/22 | $13,859,410 |
Davis H Elliot Construction Company Inc Construction | 12/30/22 | $13,782,518 |
Ryan Incorporated Central Construction | 12/30/22 | $4,195,109 |
Ge Packaged Power Inc Design & Engineering | 12/30/22 | $3,424,295 |
William E Groves Construction Llc Construction | 12/30/22 | $3,037,304 |
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 | $1,263,336,554 |
| Investment income | $2,690,041 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $218,666 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,267,806,504 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $33,130 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $5,553,820 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $71,044,681 |
| Pension plan accruals and contributions | $12,272,434 |
| Other employee benefits | $11,060,523 |
| Payroll taxes | $5,914,817 |
| Fees for services: Management | $188,382 |
| Fees for services: Legal | $2,199,769 |
| Fees for services: Accounting | $287,518 |
| Fees for services: Lobbying | $160,000 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $6,854,763 |
| Advertising and promotion | $1,560,150 |
| Office expenses | $20,883,833 |
| Information technology | $1,354,943 |
| Royalties | $0 |
| Occupancy | $14,753,699 |
| Travel | $3,980,743 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $18,156 |
| Interest | $90,042,366 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $148,337,640 |
| Insurance | $3,293,867 |
| All other expenses | $16,498,517 |
| Total functional expenses | $1,231,926,165 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $68,854,263 |
| Savings and temporary cash investments | $160,814,585 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $149,448,061 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $120,293 |
| Inventories for sale or use | $197,153,600 |
| Prepaid expenses and deferred charges | $142,359,567 |
| Net Land, buildings, and equipment | $2,998,609,017 |
| Investments—publicly traded securities | $19,196,059 |
| Investments—other securities | $13,637,820 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,249,643 |
| Total assets | $3,752,442,908 |
| Accounts payable and accrued expenses | $174,306,418 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $700,000 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $2,338,581,021 |
| Unsecured mortgages and notes payable | $350,000,000 |
| Other liabilities | $101,909,578 |
| Total liabilities | $2,965,497,017 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $786,945,891 |
| Total liabilities and net assets/fund balances | $3,752,442,908 |
Grants Awarded
Over the last fiscal year, East Kentucky Power Cooperative Inc has awarded $55,579 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
KENTUCKY EDUCATIONAL TELEVISION INC PURPOSE: Programming sponsorship. | $20,000 |
LIVING LANDS & WATERS PURPOSE: Donation for general support. | $10,000 |
CLARK COUNTY FIRE DEPARTMENT | | | $5,579 |
KENTUCKY FOOTHILLS THERAPEUTIC HORSEMANSHIP CENTER PURPOSE: Donation for general support. | $20,000 |