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Nonprofiteer
← BLUEGRASS ENERGY COOPERATIVE CORP

Form 990 for tax year 2023

Filed by BLUEGRASS ENERGY COOPERATIVE CORP.

Totals

Total revenue
$151,939,523
Total expenses
$151,939,523
Contributions and grants received
$0
Grants paid
$16,000
Program service revenue
$147,121,990
Investment income
$415,081
Other revenue
$4,402,452
Total assets, end of year
$315,283,837
Total liabilities, end of year
$145,422,108
Net assets or fund balances, end of year
$169,861,729
Program services expenses (Part IX)
$151,939,523
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$151,939,523

Program services were 100.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 2a · Program service revenue: SALE OF ELECTRIC REVENUE

    total $147,109,396 · related or exempt $147,109,396

  • 2b · Program service revenue: SALE OF ELECTRIC MERCHANDISE

    total $12,594 · related or exempt $12,594

  • 3 · Investment income

    total $415,081 · excluded $415,081

  • 11a · Other revenue: G&T CAPITAL CREDITS

    total $2,078,489 · related or exempt $2,078,489

  • 11b · Other revenue: JOINT USE POLE ATTACHMENT

    total $1,830,524 · excluded $1,830,524

  • 11c · Other revenue: OTHER CREDITS

    total $424,742 · related or exempt $424,742

  • 11d · All other revenue

    total $68,697 · related or exempt $68,697

  • 11e · Other revenue, total

    $4,402,452

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $16,000 · program services $16,000

  • 4 · Benefits paid to or for members

    total $4,513,041 · program services $4,513,041

  • 5 · Compensation of officers, directors and key employees

    total $1,252,845 · program services $1,252,845

  • 7 · Other salaries and wages

    total $7,663,148 · program services $7,663,148

  • 8 · Pension plan contributions

    total $1,495,008 · program services $1,495,008

  • 9 · Other employee benefits

    total $1,788,537 · program services $1,788,537

  • 10 · Payroll taxes

    total $609,975 · program services $609,975

  • 11b · Fees: legal

    total $41,740 · program services $41,740

  • 11c · Fees: accounting

    total $26,750 · program services $26,750

  • 13 · Office expenses

    total $634,818 · program services $634,818

  • 20 · Interest

    total $3,266,934 · program services $3,266,934

  • 22 · Depreciation, depletion and amortization

    total $12,114,517 · program services $12,114,517

  • 23 · Insurance

    total $473,498 · program services $473,498

  • 24a · Other expenses: COST OF POWER

    total $112,244,948 · program services $112,244,948

  • 24b · Other expenses: DISTRIBUTION MAINTENANC

    total $9,895,482 · program services $9,895,482

  • 24c · Other expenses: ADMINISTRATION AND GENE

    total $4,041,627 · program services $4,041,627

  • 24d · Other expenses: CONSUMER ACCOUNTS

    total $2,855,786 · program services $2,855,786

  • 24e · All other expenses

    total -$10,995,131 · program services -$10,995,131

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $4,711,249 · end of year $3,858,903

  • 4 · Accounts receivable

    beginning of year $10,996,626 · end of year $10,470,355

  • 8 · Inventories for sale or use

    beginning of year $4,038,365 · end of year $3,954,457

  • 9 · Prepaid expenses and deferred charges

    beginning of year $714,287 · end of year $734,071

  • 10a · Land, buildings and equipment: cost or other basis

    $332,469,144

  • 10b · Land, buildings and equipment: accumulated depreciation

    $135,506,980

  • 10c · Land, buildings and equipment, net

    beginning of year $187,148,851 · end of year $196,962,164

  • 13 · Investments: program-related

    beginning of year $87,502,183 · end of year $89,862,008

  • 15 · Other assets

    beginning of year $10,689,457 · end of year $9,441,879

  • 17 · Accounts payable and accrued expenses

    beginning of year $15,964,116 · end of year $12,676,049

  • 23 · Secured mortgages and notes payable

    beginning of year $109,313,563 · end of year $117,547,022

  • 25 · Other liabilities

    beginning of year $13,786,498 · end of year $15,199,037

  • 29 · Capital stock, trust principal or current funds

    beginning of year $1,160,815 · end of year $1,178,985

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $620,984 · end of year $620,984

  • 31 · Retained earnings, endowment or other funds

    beginning of year $164,955,042 · end of year $168,061,760

Mission and programs · 2023

Mission

DISTRIBUTION SALES OF ELECTRICITY ON A PATRONAGE BASIS TO A MONTHLY AVERAGE OF APPROXIMATELY 63,000 CONSUMERS. BLUE GRASS ENERGY'S MISSION IS TO PROVIDE SAFE, RELIABLE, AFFORDABLE ENERGY SERVICES, WHILE IMPROVING THE QUALITY OF LIFE FOR OUR MEMBERS.

Activities or mission (Part I)

SINCE 1937, BLUE GRASS ENERGY HAS BEEN MAKING LIFE BETTER, THE COOPERATIVE WAY, FOR OUR MEMBERS AND COMMUNITIES BY PROVIDING SAFE, RELIABLE, AND AFFORDABLE ENERGY SERVICES. ELECTRICITY IS DELIVERED ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL. TODAY, BLUE GRASS ENERGY SERVES APPROXIMATELY 63,000 CONSUMERS IN 23 KENTUCKY COUNTIES.

  • DISTRIBUTION SALES OF ELECTRICITY ON A PATRONAGE BASIS TO A MONTHLY AVERAGE OF APPROXIMATELY 63,000 CONSUMERS.

    Expenses $151,939,523 · Revenue $149,693,918

As filed on the 2023 return.

Listed in Part VII

  • Dennis Moneyhon

    CHAIRMAN

    Total calculated
    $22,500
    From this org
    $22,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    7.4

  • Gary Keller

    VICE CHAIRMAN

    Total calculated
    $20,700
    From this org
    $20,700
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

  • Jane Smith

    SEC/TREASURER

    Total calculated
    $21,300
    From this org
    $21,300
    From related orgs
    $0
    Other
    $0
    Hours/week
    7.3

  • Jody Hughes

    DIRECTOR

    Total calculated
    $16,800
    From this org
    $16,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.4

  • Paul Tucker

    DIRECTOR

    Total calculated
    $19,804
    From this org
    $19,804
    From related orgs
    $0
    Other
    $0
    Hours/week
    10.6

  • Doug Fritz

    DIRECTOR

    Total calculated
    $18,900
    From this org
    $18,900
    From related orgs
    $0
    Other
    $0
    Hours/week
    7.3

  • Richard Cobb IV

    DIRECTOR

    Total calculated
    $19,800
    From this org
    $19,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    9.3

  • Lu Young

    DIRECTOR

    Total calculated
    $19,200
    From this org
    $19,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.1

  • Michael Williams

    PRESIDENT/CEO

    Total calculated
    $1,025,251
    From this org
    $906,003
    From related orgs
    $0
    Other
    $119,248
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $906,003
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $119,248
    Filer's total
    $1,025,251

  • Charles G Williamson III

    VP-FINANCIAL SERVICE

    Total calculated
    $247,159
    From this org
    $187,837
    From related orgs
    $0
    Other
    $59,322
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $187,837
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $59,322
    Filer's total
    $247,159

  • Beonka Stockton

    VP-CORPORATE SERVICE

    Total calculated
    $178,390
    From this org
    $158,607
    From related orgs
    $0
    Other
    $19,783
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $158,607
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $19,783
    Filer's total
    $178,390

  • Denise Myers

    VP-PUBLIC RELATIONS

    Total calculated
    $205,257
    From this org
    $144,404
    From related orgs
    $0
    Other
    $60,853
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $144,404
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $60,853
    Filer's total
    $205,257

  • Bobby McCoun

    VP-MEMBER SERVICES

    Total calculated
    $221,231
    From this org
    $160,347
    From related orgs
    $0
    Other
    $60,884
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $160,347
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $60,884
    Filer's total
    $221,231

  • Robert C Brewer Jr

    VP-ENGINEERING

    Total calculated
    $243,103
    From this org
    $200,778
    From related orgs
    $0
    Other
    $42,325
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $200,778
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $42,325
    Filer's total
    $243,103

  • James Rainey

    CREW CHIEF

    Total calculated
    $163,741
    From this org
    $130,171
    From related orgs
    $0
    Other
    $33,570
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $130,171
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $33,570
    Filer's total
    $163,741

  • Brad Marshall

    FORMER DIRECTOR

    Total calculated
    $16,966
    From this org
    $16,966
    From related orgs
    $0
    Other
    $0
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $16,966
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $16,966

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 1a · Health or social club dues or initiation fees
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement

The filer's explanations (Part III)

PART I, LINE 1A
BLUE GRASS WILL REIMBURSE AN EMPLOYEE FOR UP TO $20 PER MONTH FOR A HEALTH CLUB MEMBERSHIP IN COMPLIANCE WITH ITS WELLNESS PROGRAM.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2023
Filed
29 April 2024
IRS schema version
2023v5.0
Source object
202411229349302296

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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