Civic Intelligence

Jackson Energy Cooperative

990 • Fiscal year 2016 • EIN 61-0236351

Jan 01, 2016 to Dec 31, 2016 • Filed on May 02, 2017

Organization Profilewww.jacksonenergy.com

View Organization Page

115 Jackson Energy LaneMcKee, KY 40447

(606) 364-1000

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

46th percentile

0.61x

Higher debt load relative to assets than 46% of similar nonprofits.

2016 filings • 501(c)12 • $250M-$1B nonprofits • Source year 2016

Liabilities / Revenue

59th percentile

1.44x

Higher debt load relative to revenue than 59% of similar nonprofits.

2016 filings • 501(c)12 • $250M-$1B nonprofits • Source year 2016

Net Margin

44th percentile

0.0%

Higher net margin than 44% of similar nonprofits.

2016 filings • 501(c)12 • $250M-$1B nonprofits • Source year 2016

Top Officer Pay

6th percentile

$266,752

Higher top officer pay than 6% of similar nonprofits.

Top officer pay equals 0.2% of source-year revenue.

2016 filings • 501(c)12 • $250M-$1B nonprofits • Source year 2016

Asset Growth

51st percentile

3.2%

Faster asset growth than 51% of similar nonprofits.

2016 filings • 501(c)12 • $250M-$1B nonprofits • Annualized from 2015 to 2016

Revenue Growth

86th percentile

6.2%

Faster revenue growth than 86% of similar nonprofits.

2016 filings • 501(c)12 • $250M-$1B nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets46th percentile

Assets

Up

$255,532,654

Up $8,022,785 (+3.2%) from 2015

Net Assets

Up

$100,171,188

Up $9,218,065 (+10%) from 2015

Liabilities

Down

$155,361,466

Down $1,195,280 (-0.8%) from 2015

Revenue And Expenses
Liabilities / Revenue59th percentileNet Margin44th percentile

Revenue

Up

$108,013,080

Up $6,299,985 (+6.2%) from 2015

Expenses

Up

$108,013,080

Up $6,299,985 (+6.2%) from 2015

Net Income

Flat

$0

Flat from 2015

Historical Trend

Balance Sheet Trend

Asset Growth51st percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$400M$300M$200M$100M$0Assets 2010: $222,814,178Liabilities 2010: $155,481,487Net Assets 2010: $67,332,6912010Assets 2011: $227,560,160Liabilities 2011: $155,478,651Net Assets 2011: $72,081,5092011Assets 2012: $231,948,465Liabilities 2012: $158,409,705Net Assets 2012: $73,538,7602012Assets 2013: $247,096,075Liabilities 2013: $166,023,988Net Assets 2013: $81,072,0872013Assets 2014: $248,519,156Liabilities 2014: $159,398,817Net Assets 2014: $89,120,3392014Assets 2015: $247,509,869Liabilities 2015: $156,556,746Net Assets 2015: $90,953,1232015Assets 2016: $255,532,654Liabilities 2016: $155,361,466Net Assets 2016: $100,171,1882016Assets 2017: $261,508,915Liabilities 2017: $156,569,808Net Assets 2017: $104,939,1072017Assets 2018: $265,510,344Liabilities 2018: $153,001,557Net Assets 2018: $112,508,7872018Assets 2019: $269,340,780Liabilities 2019: $150,297,769Net Assets 2019: $119,043,0112019Assets 2020: $274,076,408Liabilities 2020: $148,824,622Net Assets 2020: $125,251,7862020Assets 2021: $284,949,026Liabilities 2021: $155,021,827Net Assets 2021: $129,927,1992021Assets 2022: $302,207,183Liabilities 2022: $167,348,744Net Assets 2022: $134,858,4392022Assets 2023: $297,787,078Liabilities 2023: $164,358,736Net Assets 2023: $133,428,3422023

Highlighted filing

2016

Assets$255,532,654
Liabilities$155,361,466
Net Assets$100,171,188
Open 2016 Filing

Operations Trend

Revenue Growth86th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$150M$100M$50M$0Expenses 2010: $100,598,1132010Expenses 2011: $108,275,6032011Expenses 2012: $103,996,2312012Revenue 2013: $110,806,127Expenses 2013: $110,806,127Net Income 2013: $02013Revenue 2014: $113,439,147Expenses 2014: $113,439,147Net Income 2014: $02014Revenue 2015: $101,713,095Expenses 2015: $101,713,095Net Income 2015: $02015Revenue 2016: $108,013,080Expenses 2016: $108,013,080Net Income 2016: $02016Revenue 2017: $100,246,089Expenses 2017: $100,246,089Net Income 2017: $02017Revenue 2018: $109,333,235Expenses 2018: $109,333,235Net Income 2018: $02018Revenue 2019: $105,143,552Expenses 2019: $105,143,552Net Income 2019: $02019Revenue 2020: $100,016,869Expenses 2020: $100,016,869Net Income 2020: $02020Revenue 2021: $109,799,636Expenses 2021: $109,799,636Net Income 2021: $02021Revenue 2022: $131,798,602Expenses 2022: $131,798,602Net Income 2022: $02022Revenue 2023: $123,029,209Expenses 2023: $123,029,209Net Income 2023: $02023

Highlighted filing

2016

Revenue$108,013,080
Expenses$108,013,080
Net Income$0
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
May 2, 2017
Return Version
2016v3.0
Gross Receipts
$108,013,080
Mission and Program Overview

Mission

Distribution sales of electricity to member owners on a patronage basis.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$161,615,018$163,769,373▲ $2,154,355
Rtn Earn Endowment Incm Other Fnds$85,873,389$94,699,793▲ $8,826,404
Investments Program Related$56,946,638$61,964,933▲ $5,018,295
Accounts Receivable$11,837,715$13,659,482▲ $1,821,767
Pd in Cap Srpls Land Bldg Eqp Fund$3,775,124$4,161,485▲ $386,361
Cash and Non-Interest-Bearing Accounts$3,937,848$2,522,646▼ $1,415,202
Inventories for Sale or Use$1,281,274$1,509,664▲ $228,390
Cap Stk Tr Prin Current Funds$1,304,610$1,309,910▲ $5,300
Prepaid Expenses and Deferred Charges$-914,071$159,449▲ $1,073,520
Savings and Temporary Cash Investments-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Total Assets$247,509,869$255,532,654▲ $8,022,785
Other Assets Total$12,805,447$11,947,107▼ $858,340
Liabilities
Mortgage Notes Payable Secured by Investment Property$137,120,880$131,746,095▼ $5,374,785
Other Liabilities$12,259,202$13,587,712▲ $1,328,510
Accounts Payable and Accrued Expenses$7,176,664$10,027,659▲ $2,850,995
Total Liabilities$156,556,746$155,361,466▼ $1,195,280
Net Assets / Fund Balance
Total Net Assets Fund Balance$90,953,123$100,171,188▲ $9,218,065
Total Liabilities and Net Assets / Fund Balance$247,509,869$255,532,654▲ $8,022,785

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$163,769,373$79,107,911$242,877,284
Compensation and Service Providers
Top Officer Pay6th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Virginia Carol WrightPresident & CEOFT$205,671$61,081$266,752
Stephen Derrick DeanCOOFT$127,907$46,522$174,429
Sharon CarsonSystem ControlsFT$126,994$39,834$166,828
Roger WittIT MgrFT$104,291$39,332$143,623
Sandy PainterVP, Member SvcsFT$102,431$33,050$135,481
Ed NeeleyPurchasing AgentFT$105,470$24,278$129,748
Phillip ThompsonChairman-$18,800-$18,800
Keith BinderSecretary-Treas-$18,600-$18,600
Gordon PhillipsDirector-$16,400-$16,400
Teresa DawesDirector-$16,000-$16,000
Landis CornettVice ChairmanPT$15,400-$15,400
Ted CundiffDirector-$15,000-$15,000
Jim Hays IIIDirector-$14,800-$14,800
Steve PattonDirector-$14,800-$14,800
Tim BobrowskiDirector-$14,800-$14,800

Highest Paid Contractors

ContractorServicesLocationCompensation
Davis H ElliottLine constructionPO Box 37251, Baltimore, MD 21297$2,345,485
WA Kendall & CoROW clearingPO Box 831, Lawrenceville, GA 30046$1,577,009
Nelson Tree ServiceROW clearing4489 Solutions Center, Chicago, IL 60677$1,537,887
Professional Herbicide ApplicationROW spraying92 Parker Street, Monticello, KY 42633$437,816
Townsend Tree ServiceROW clearingPO Box 7015, Muncie, IN 47308$376,661
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$102,440,682
Investment Income
$103,749
Other Revenue
$5,468,649
Change in Net Assets
$0

Audited Revenue Reconciliation

Revenue per Audited Statements
$108,013,080
Total Revenue per Audited Statements
$108,013,080
Total Revenue per Form 990
$108,013,080
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$83,952,668
Salaries, Compensation, and Employee Benefits$14,443,325
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$9,699,220--$9,699,220
Benefits to Members$9,617,087--$9,617,087
Other Salaries and Wages$8,736,053--$8,736,053
Other Expenses$4,706,382--$4,706,382
Interest$4,593,359--$4,593,359
Other Employee Benefits$2,816,356--$2,816,356
Pension Plan Contributions$1,856,603--$1,856,603
Payroll Taxes$684,042--$684,042
Insurance$411,686--$411,686
Current Officers, Directors, Trustees, and Key Employees$350,271--$350,271
Fees for Services Legal$60,961--$60,961
Fees for Services Accounting$22,852--$22,852
All Other Expenses$-10,930,873--$-10,930,873
Total Functional Expenses$108,013,080$0$0$108,013,080

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$108,013,080
Total Expenses per Audited Statements$108,013,080
Total Expenses per Form 990$108,013,080
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Accumulated postretirement benefits$8,838,407
Accrued expenses$2,185,716
Consumer advances for construction$1,367,263
Consumer deposits$696,326
Short term notes payable$500,000
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 2: Description of Business or Family Relationship of Officers, Directors, Et

“Director Hays part owner of local bank where Jackson Energy conducts banking business. Also, owns cable television company which pays joint use attachment fee to Jackson Energy thru rates regulated by Ky Public Service Commission.”

Form 990, Part VI, Line 6: Explanation of Classes of Members or Shareholder

“Must be a member to receive electric service. Each member has 1 vote. May have more than 1 service per membership.”

Form 990, Part VI, Line 7A: How Members or Shareholders Elect Governing Body

“Nominating committee meets every year to select candidate to run for Board position. A member may, upon obtaining 500 written member names, run for a Board position.”

Form 990, Part VI, Line 7B: Describe Decisions of Governing Body Approval by Members or Shareholders

“Articles of Incorporation may be altered, provided that notice of the meeting shall have contained a copy of the proposed alteration, amendment, or repeal.”

Form 990, Part VI, Line 11B: Form 990 Review Process

“Directors are furnished a draft copy of the 990 for review prior to filing. May make inquiries of information contained in the return. Directors also meet with the independent auditor in a closed session and are able to make additional inquiries at that time.”

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

“The governing body and key employees are aware of the issues involving the appearance of, and conflicts of interest and family and business relationships,and the need to disclose these relationships, if applicable. There are ongoing discussions with the governing body and key employees regarding related party transactions. There is an annual review by the independent auditor and an annual review by the cooperative's attorney.”

Form 990, Part VI, Line 15B: Compensation Review and Approval Process for Officers and Key Employees

“15.a. The Board annually evaluates the performance of the President/CEO; raises are determined by the summation of the 9 evaluations. In addition, the statewide association of electric cooperatives performs an annual comparative survey of all positions and salaries, including the President/CEO and Director compensation, which the Board reviews. The national organization of electric cooperatives, NRECA, also publishes national compensation surveys which are used for review by the Board.15.b. The Board receives data from local, state and national surveys. The Board uses this data,along with a performance review, to set compensation.The Board has used, and occassionally does, use an independent Human Resource consultant to review the compensation process.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“ByLaws are given to each new member and financial statements are given to each member on an annual basis. Annual meeting of members is held each year.”

Filing and Contact Details

Filer

Filer Name
Jackson Energy Cooperative
EIN
61-0236351
Phone
6063641000
Address
115 Jackson Energy Lane, McKee, KY 40447

Signing Officer

Name
Carol Wright
Title
President & CEO
Signed
2017-05-02
Discuss with paid preparer
No

Organization Details

Formed
1938
Legal Domicile
Ky
Voting Board Members
9
Independent Board Members
0
Employees
139

Preparer

Firm
Alan Zumstein
Address
1032 CHETFORD DRIVE, LEXINGTON, KY 40509
Preparer
Alan Zumstein
Phone
8592647147
Supplemental Narrative

Additional Explanations

Other Changes In Net Assets Or Fund Balances - Other Increases

“Comprehensive income-postretirement ben = $117727”

Other Changes In Net Assets Or Fund Balances - Other Increases

“Margins allocated to members = $9617087”

Other Changes In Net Assets Or Fund Balances - Other Increases

“Memberships issued = $5300”

Other Changes In Net Assets Or Fund Balances - Other Decreases

“Other equities = -$9855”

Other Changes In Net Assets Or Fund Balances - Other Decreases

“Refunds of capital credits = -$512194”

Form 990, Part IX, Line 4 - Benefits paid to or for members

“Represents patronage capital allocated to members in accordance with the bylaws of the Cooperative. This results in a difference between book income and income reported on the Form 990 by the same amount.”

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IRS990/Form990PartVIISectionAGrp/PersonNm2Ted Cundiff
IRS990/Form990PartVIISectionAGrp/PersonNm3Jim Hays III
IRS990/Form990PartVIISectionAGrp/PersonNm4Landis Cornett
IRS990/Form990PartVIISectionAGrp/PersonNm5Steve Patton
IRS990/Form990PartVIISectionAGrp/PersonNm6Phillip Thompson
IRS990/Form990PartVIISectionAGrp/PersonNm7Teresa Dawes
IRS990/Form990PartVIISectionAGrp/PersonNm8Gordon Phillips
IRS990/Form990PartVIISectionAGrp/PersonNm9Virginia Carol Wright
IRS990/Form990PartVIISectionAGrp/PersonNm10Stephen Derrick Dean
IRS990/Form990PartVIISectionAGrp/PersonNm11Sharon Carson
IRS990/Form990PartVIISectionAGrp/PersonNm12Ed Neeley
IRS990/Form990PartVIISectionAGrp/PersonNm13Roger Witt
IRS990/Form990PartVIISectionAGrp/PersonNm14Sandy Painter
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IRS990/Form990PartVIISectionAGrp/TitleTxt2Director
IRS990/Form990PartVIISectionAGrp/TitleTxt3Director
IRS990/Form990PartVIISectionAGrp/TitleTxt4Vice Chairman
IRS990/Form990PartVIISectionAGrp/TitleTxt5Director
IRS990/Form990PartVIISectionAGrp/TitleTxt6Chairman
IRS990/Form990PartVIISectionAGrp/TitleTxt7Director
IRS990/Form990PartVIISectionAGrp/TitleTxt8Director
IRS990/Form990PartVIISectionAGrp/TitleTxt9President & CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt10COO
IRS990/Form990PartVIISectionAGrp/TitleTxt11System Controls
IRS990/Form990PartVIISectionAGrp/TitleTxt12Purchasing Agent
IRS990/Form990PartVIISectionAGrp/TitleTxt13IT Mgr
IRS990/Form990PartVIISectionAGrp/TitleTxt14VP, Member Svcs
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IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$255,532,654
Liabilities
$155,361,466
Net assets
$100,171,188
Revenue
$108,013,080
Expenses
$108,013,080
Net income
$0
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Summary only. Only limited summary data is available for this year.$298$164$133$123$123$0.00
2022Summary only. Only limited summary data is available for this year.$302$167$135$132$132$0.00
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$285$155$130$110$110$0.00
2020Summary only. Only limited summary data is available for this year.$274$149$125$100$100$0.00
2019Summary only. Only limited summary data is available for this year.$269$150$119$105$105$0.00
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$266$153$113$109$109$0.00
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$262$157$105$100$100$0.00
2016Detailed filing. Detailed filing data is available for this year.$256$155$100$108$108$0.00
2015Detailed filing. Detailed filing data is available for this year.$248$157$91.0$102$102$0.00
2014Detailed filing. Detailed filing data is available for this year.$249$159$89.1$113$113$0.00
2013Detailed filing. Detailed filing data is available for this year.$247$166$81.1$111$111$0.00
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$232$158$73.5$104
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$228$155$72.1$108
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$223$155$67.3$101
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2016 filings • 501(c)12 • $250M-$1B nonprofits