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Nonprofiteer
← KENERGY CORP

Form 990 for tax year 2024

Filed by KENERGY CORP.

Totals

Total revenue
$376,421,815
Total expenses
$374,577,439
Contributions and grants received
$0
Grants paid
$56,028
Program service revenue
$366,363,704
Investment income
$188,872
Other revenue
$9,869,239
Total assets, end of year
$393,530,110
Total liabilities, end of year
$303,495,724
Net assets or fund balances, end of year
$90,034,386
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
not reported

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: SALES OF ELECTRICITY

    total $365,069,022 · related or exempt $365,069,022

  • 2b · Program service revenue: SERVICE FEES

    total $704,039 · related or exempt $704,039

  • 2c · Program service revenue: PATRONAGE DIVIDENDS

    total $590,643 · related or exempt $590,643

  • 3 · Investment income

    total $281,951 · excluded $281,951

  • 6a · Gross rents

    personal property $195,758

  • 6b · Less rental expenses

    personal property $0

  • 6c · Rental income or loss

    personal property $195,758

  • 6d · Net rental income or loss

    total $195,758 · unrelated business $195,758

  • 7a · Gross sales of assets other than inventory

    other assets $68,231

  • 7b · Less cost or other basis and sales expenses

    other assets $161,310

  • 7c · Gain or loss

    other assets -$93,079

  • 7d · Net gain or loss

    total -$93,079 · related or exempt -$93,079

  • 11a · Other revenue: FIBER LEASE REVENUE

    total $6,651,715 · unrelated business $6,651,715

  • 11b · Other revenue: FIBER GRANT REVENUE

    total $1,982,145 · unrelated business $1,982,145

  • 11c · Other revenue: POLE ATTACHMENT INCOME

    total $1,038,770 · excluded $1,038,770

  • 11d · All other revenue

    total $851 · related or exempt $851

  • 11e · Other revenue, total

    $9,673,481

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $40,028

  • 2 · Grants to domestic individuals

    total $16,000

  • 4 · Benefits paid to or for members

    total $5,002,833

  • 5 · Compensation of officers, directors and key employees

    total $2,272,432

  • 7 · Other salaries and wages

    total $7,640,361

  • 8 · Pension plan contributions

    total $1,270,853

  • 9 · Other employee benefits

    total $1,645,007

  • 10 · Payroll taxes

    total $560,077

  • 20 · Interest

    total $4,735,246

  • 22 · Depreciation, depletion and amortization

    total $15,286,730

  • 24a · Other expenses: PURCHASED POWER

    total $316,299,237

  • 24b · Other expenses: DISTRIBUTION EXPENSE

    total $9,357,696

  • 24c · Other expenses: FIBER EXPENSE

    total $7,471,807

  • 24d · Other expenses: ADMIN & GENERAL

    total $1,681,065

  • 24e · All other expenses

    total $1,298,067

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,413,796 · end of year $1,763,154

  • 4 · Accounts receivable

    beginning of year $21,843,209 · end of year $22,693,958

  • 8 · Inventories for sale or use

    beginning of year $25,609,043 · end of year $21,610,225

  • 9 · Prepaid expenses and deferred charges

    beginning of year $684,767 · end of year $581,149

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

    $507,311,708

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

    $181,150,442

  • 10c · Land, buildings and equipment, net

    beginning of year $252,035,024 · end of year $326,161,266

  • 13 · Investments: program-related

    beginning of year $6,189,841 · end of year $6,514,696

  • 15 · Other assets

    beginning of year $13,780,119 · end of year $14,205,662

  • 17 · Accounts payable and accrued expenses

    beginning of year $45,642,402 · end of year $38,020,108

  • 23 · Secured mortgages and notes payable

    beginning of year $183,258,572 · end of year $258,419,999

  • 25 · Other liabilities

    beginning of year $7,387,679 · end of year $7,055,617

  • 29 · Capital stock, trust principal or current funds

    beginning of year $233,190 · end of year $234,810

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

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $85,033,956 · end of year $89,799,576

Mission and programs · 2024

Mission

SAFELY PROVIDING RELIABLE ELECTRIC AND TECHNOLOGY SERVICES FOR OUR MEMBERS.

Activities or mission (Part I)

TO PROVIDE QUALITY AND RELIABLE ELECTRIC SERVICE TO MEMBERS AT COST ON A COOPERATIVE BASIS.

  • PROVIDING ELECTRIC ENERGY TO OUR MEMBERS ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL. THERE WERE 59,887 ACTIVE SERVICES AT YEAR END.

As filed on the 2024 return.

Listed in Part VII

  • Jonathan Ayer

    DIRECTOR (JAN-JUNE)

    Total calculated
    $6,100
    From this org
    $6,100
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Richard Basham

    DIRECTOR

    Total calculated
    $13,050
    From this org
    $13,050
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Susan Blanford

    SECRETARY/TREASURER

    Total calculated
    $12,450
    From this org
    $12,450
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Larry Elder

    DIRECTOR

    Total calculated
    $13,950
    From this org
    $13,950
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

  • Ryan Hammack

    DIRECTOR

    Total calculated
    $12,000
    From this org
    $12,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    9

  • Michael Hazelwood

    DIRECTOR

    Total calculated
    $11,100
    From this org
    $11,100
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.3

  • Garrett Owen

    DIRECTOR (JUNE-DEC)

    Total calculated
    $7,800
    From this org
    $7,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Eddie Leach

    DIRECTOR (JAN-JUNE)

    Total calculated
    $5,700
    From this org
    $5,700
    From related orgs
    $0
    Other
    $0
    Hours/week
    12

  • William Reid

    CHAIRMAN

    Total calculated
    $13,500
    From this org
    $13,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

  • Craig Roberts

    VICE CHAIRMAN

    Total calculated
    $11,850
    From this org
    $11,850
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • William Wathen

    DIRECTOR (JUNE-DEC)

    Total calculated
    $7,500
    From this org
    $7,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Robert White

    DIRECTOR

    Total calculated
    $11,100
    From this org
    $11,100
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Brent Wigginton

    DIRECTOR

    Total calculated
    $11,700
    From this org
    $11,700
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

  • Timothy Lindahl

    PRESIDENT & CEO

    Total calculated
    $407,610
    From this org
    $330,010
    From related orgs
    $0
    Other
    $77,600
    Hours/week
    59

    Schedule J breakdown matched by us

    Base
    $294,507
    Bonus
    $15,125
    Other
    $20,378
    Deferred
    $44,256
    Nontaxable benefits
    $33,344
    Filer's total
    $407,610

  • Debra Hayden

    EXECUTIVE ASST./ASSISTANT SECRETARY

    Total calculated
    $145,396
    From this org
    $108,747
    From related orgs
    $0
    Other
    $36,649
    Hours/week
    40

  • Travis Siewert

    VP - FINANCE & ACCOUNTING

    Total calculated
    $259,892
    From this org
    $205,598
    From related orgs
    $0
    Other
    $54,294
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $192,768
    Bonus
    $150
    Other
    $12,680
    Deferred
    $23,338
    Nontaxable benefits
    $30,956
    Filer's total
    $259,892

  • Rob Stumph

    VP - ENGINEERING

    Total calculated
    $460,271
    From this org
    $232,221
    From related orgs
    $0
    Other
    $228,050
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $205,865
    Bonus
    $150
    Other
    $26,206
    Deferred
    $203,019
    Nontaxable benefits
    $25,031
    Filer's total
    $460,271

  • Keith Ellis

    VP - ADMINISTRATIVE SERVICES

    Total calculated
    $314,969
    From this org
    $217,466
    From related orgs
    $0
    Other
    $97,503
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $190,278
    Bonus
    $150
    Other
    $27,038
    Deferred
    $63,391
    Nontaxable benefits
    $34,112
    Filer's total
    $314,969

  • Steve Thompson

    VP - REGULATORY/EXTERNAL AFFAIRS

    Total calculated
    $283,537
    From this org
    $219,160
    From related orgs
    $0
    Other
    $64,377
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $193,437
    Bonus
    $150
    Other
    $25,573
    Deferred
    $39,334
    Nontaxable benefits
    $25,043
    Filer's total
    $283,537

  • Matthew Moffitt

    VP - OPERATIONS

    Total calculated
    $262,957
    From this org
    $207,063
    From related orgs
    $0
    Other
    $55,894
    Hours/week
    56

    Schedule J breakdown matched by us

    Base
    $194,231
    Bonus
    $150
    Other
    $12,682
    Deferred
    $25,761
    Nontaxable benefits
    $30,133
    Filer's total
    $262,957

  • Michael Church

    OPERATIONS MANAGER

    Total calculated
    $250,878
    From this org
    $151,952
    From related orgs
    $0
    Other
    $98,926
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $143,174
    Bonus
    $150
    Other
    $8,628
    Deferred
    $74,098
    Nontaxable benefits
    $24,828
    Filer's total
    $250,878

  • Scott Atherton

    FIELD ENGINEERING MANAGER

    Total calculated
    $209,031
    From this org
    $147,096
    From related orgs
    $0
    Other
    $61,935
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $129,026
    Bonus
    $3,150
    Other
    $14,920
    Deferred
    $36,579
    Nontaxable benefits
    $25,356
    Filer's total
    $209,031

  • Andy Wolford

    TECHNICAL SERVICES MANAGER

    Total calculated
    $208,441
    From this org
    $144,915
    From related orgs
    $0
    Other
    $63,526
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $132,965
    Bonus
    $150
    Other
    $11,800
    Deferred
    $52,899
    Nontaxable benefits
    $10,627
    Filer's total
    $208,441

  • Casey Baker

    OPERATIONS MANAGER

    Total calculated
    $209,888
    From this org
    $144,648
    From related orgs
    $0
    Other
    $65,240
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $141,994
    Bonus
    $150
    Other
    $2,504
    Deferred
    $44,008
    Nontaxable benefits
    $21,232
    Filer's total
    $209,888

  • Kevin Holland

    CONTRACTOR & SYSTEM CONTROL MANAGER

    Total calculated
    $187,766
    From this org
    $142,944
    From related orgs
    $0
    Other
    $44,822
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $130,430
    Bonus
    $3,150
    Other
    $9,364
    Deferred
    $24,241
    Nontaxable benefits
    $20,581
    Filer's total
    $187,766

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

  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement

The filer's explanations (Part III)

PART II, COLUMN C:
INCLUDED IN THIS AMOUNT IS THE INCREASE IN ACTUARIAL VALUE OF BENEFITS PAYABLE UNDER A DEFINED BENEFIT RETIREMENT PLAN. THE CONTRIBUTION RATE FOR PARTICIPANTS IN THE NRECA R&S DEFINED BENEFIT PENSION PLAN ARE THE SAME FOR ALL INDIVIDUALS IN THIS MULTI-EMPLOYER PLAN. THE CHANGE IN ACTUARIAL VALUE FOR EACH PARTICIPANT, HOWEVER, VARIES WITH AGE, YEARS OF SERVICE AND THE CURRENT INTEREST RATE ENVIRONMENT. IN OTHER WORDS, THE OLDER A PLAN PARTICIPANT IS, THE GREATER THE INCREASE IN THAT INDIVIDUAL'S CHANGE IN ACTUARIAL VALUE, ALL OTHER THINGS BEING EQUAL. BECAUSE THIS RELATES TO A MULTI-EMPLOYER PLAN, CASH CONTRIBUTIONS TO THE PLAN IN LIEU OF THE ACTUARIAL INCREASE ARE EXPENSED IN THE FINANCIAL STATEMENTS. ROB STUMPH: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 203,019 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (203,019) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 59,144 EXPENSE TO THE COOPERATIVE $ 59,144 TIMOTHY LINDAHL: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 44,256 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (44,256) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 64,790 EXPENSE TO THE COOPERATIVE $ 64,790 KEITH ELLIS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 63,391 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (63,391) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 43,315 EXPENSE TO THE COOPERATIVE $ 43,315 STEVE THOMPSON: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 39,334 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (39,334) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 50,674 EXPENSE TO THE COOPERATIVE $ 50,674 MATTHEW MOFFITT: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 25,761 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (25,761) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 43,586 EXPENSE TO THE COOPERATIVE $ 43,586 TRAVIS SIEWERT: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 23,338 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (23,338) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 40,821 EXPENSE TO THE COOPERATIVE $ 40,821 MICHAEL CHURCH: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 74,098 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (74,098) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 39,387 EXPENSE TO THE COOPERATIVE $ 39,387 CASEY BAKER: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 44,008 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (44,008) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 38,657 EXPENSE TO THE COOPERATIVE $ 38,657 SCOTT ATHERTON: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 36,579 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (36,579) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 30,810 EXPENSE TO THE COOPERATIVE $ 30,810 ANDY WOLFORD: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 52,899 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (52,899) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 30,525 EXPENSE TO THE COOPERATIVE $ 30,525 KEVIN HOLLAND: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 24,241 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (24,241) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 29,803 EXPENSE TO THE COOPERATIVE $ 29,803

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

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • KENECT INC

    C · FIBER AND BROADBAND ACCESS SUBLEASE · KY · 100% owned · share of income $6,650,834 · share of assets $108 · controlled entity

    Directly controlled by KENERGY CORP

Provenance

Return type
form_990
Tax year
2024
Filed
12 November 2025
IRS schema version
2024v5.2
Source object
202543219349304424

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