Inter-county Energy Cooperative Corporation
501(c)(12)
100% goes to programs Strong reserves Growing revenue
Inter-county Energy Cooperative Corporation is a 501(c)(12) organization based in Danville, Kentucky, registered in 1937, with $70,990,462 in FY2024 revenue. CharityIndex grades it A+, and it directs about 100% of spending to programs.
Po Box 87, Danville, KY, 40423 EIN 61-0235235 Since 1937
Revenue (FY2024)
$71.0M
▲ 0.2% vs prior year
Expenses (FY2024)
$71.0M
Net assets
$63.5M
Employees
68
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
A+
A+Program efficiency40% of the rating100% to programs
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. For Inter-county Energy Cooperative Corporation: 100% to programs earns a A+ on this criterion. See the exact thresholds →
AFinancial health25% of the rating11 mo reserves · +0% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For Inter-county Energy Cooperative Corporation: 11 mo reserves · +0% margin earns a A on this criterion. See the exact thresholds →
A+Governance25% of the rating6 of 6 checks met
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. For Inter-county Energy Cooperative Corporation: 6 of 6 checks met earns a A+ on this criterion. See the exact thresholds →
ATransparency10% of the rating4 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For Inter-county Energy Cooperative Corporation: 4 of 5 disclosure signals earns a A on this criterion. See the exact thresholds →
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A live seal — it updates automatically when the grade changes and links donors to this verified profile.
Mission
Provide electric service to member owners on a patronage basis. serve an average of approximately 28,017 customers per month.
Contact & location
Financial trends
Revenue grew from $53.1M (FY2013) to $71.0M (FY2024) across 12 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $94.9MNet assets $63.5M
Operating margin
0.0%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$158.5M
Total liabilities
$94.9M
Net assets
$63.5M
Salaries & benefits
$9.0M
13% of expenses
Board members
6
6 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $70,990,462▲0.2% | $70,990,462▲0.2% | $63,527,772▲4.8% | $158,470,637▲2.0% | 990 |
| 2023 | $70,820,953▼5.3% | $70,820,953▼5.3% | $60,618,266▲6.2% | $155,321,919▲3.6% | 990 |
| 2022 | $74,823,291▲33.7% | $74,823,291▲33.7% | $57,066,339▲8.9% | $149,903,408▲4.2% | 990 |
| 2021 | $55,946,452▲8.9% | $55,946,452▲8.9% | $52,405,314▲2.1% | $143,876,670▲2.2% | 990 |
| 2020 | $51,368,634▼4.3% | $51,368,634▼4.3% | $51,302,376▲6.3% | $140,712,230▲4.6% | 990 |
| 2019 | $53,654,445▲1.3% | $53,654,445▲1.3% | $48,245,844▲6.4% | $134,563,474▲2.7% | 990 |
| 2018 | $52,965,094▲10.5% | $52,965,094▲9.9% | $45,334,719▲2.2% | $131,019,552▼0.4% | 990 |
| 2017 | $47,953,760▼5.5% | $48,194,866▼5.1% | $44,346,262▼4.0% | $131,580,942▲3.7% | 990 |
| 2016 | $50,767,158▲0.2% | $50,767,158▲0.2% | $46,172,188▲2.3% | $126,939,744▲1.9% | 990 |
| 2015 | $50,651,575▼9.1% | $50,651,575▼9.1% | $45,127,703▲5.4% | $124,514,042▲5.2% | 990 |
| 2014 | $55,742,569▲5.0% | $55,742,569▲5.0% | $42,808,651▲6.4% | $118,344,687▲6.2% | 990 |
| 2013 | $53,069,299 | $53,069,299▲8.4% | $40,215,234▲12.3% | $111,483,834▲4.1% | 990 |
| 2012 | — | $48,968,953▼4.5% | $35,821,738▲4.4% | $107,141,440▲3.5% | 990 |
| 2011 | — | $51,280,696▲12.9% | $34,303,984▲14.3% | $103,542,838▲5.5% | 990 |
| 2010 | — | $45,418,544 | $30,006,941 | $98,106,935 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Leadership & compensation (FY2024)
Highest-paid: Jerry Carter — $232,935 (0.33% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Jerry Carter | President/ceo | 50 | $232,935 |
| David Phelps | Vp Operations | 48 | $162,506 |
| David Horne | 1st Class Line Eng Tech | 56 | $153,502 |
| Colby Grider | Line Tech First Class | 53 | $140,512 |
| Kasey Walls | Crew Leader | 50 | $140,078 |
| Dan Hitchcock | Vp, Member Services | 45 | $137,325 |
| Alyssa Kurtz | Cfo | 45 | $127,233 |
| Jason Todd | Vice Chairman | 6 | $22,581 |
| James Kevin Preston | Sec/treas | 6 | $21,781 |
| Joe Spalding | Chairman | 6 | $19,518 |
| Louis Kerrick | Director | 4 | $19,110 |
| William Goggin | Director | 3 | $17,209 |
| William Peyton | Director | 2 | $12,575 |
Top vendors & contractors (FY2024)
| Contractor | Services | Paid |
|---|---|---|
| Davis H Elliotts | Line Construction Crews | $2,977,246 |
| 5-star Electric LLC | Line Construction Crews | $1,559,525 |
| Wa Kendall and Co Inc | Clear Right of Way | $1,221,587 |
| Asplundh | Clear Right of Way | $942,299 |
| Mclean Engineering | Contract Labor - Pole Attachments | $291,458 |
Frequently asked questions
- Is Inter-county Energy Cooperative Corporation a legitimate nonprofit?
- Yes. Inter-county Energy Cooperative Corporation is a 501(c)(12) organization registered with the U.S. Internal Revenue Service under EIN 61-0235235, based in Danville, Kentucky.
- What is Inter-county Energy Cooperative Corporation's EIN?
- Inter-county Energy Cooperative Corporation's Employer Identification Number (EIN) is 61-0235235.
- How much revenue does Inter-county Energy Cooperative Corporation report?
- Inter-county Energy Cooperative Corporation reported $70,990,462 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- How much of Inter-county Energy Cooperative Corporation's spending goes to programs?
- Inter-county Energy Cooperative Corporation spends about 100% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does Inter-county Energy Cooperative Corporation have?
- CharityIndex grades Inter-county Energy Cooperative Corporation A+, based on program efficiency and fundraising cost.
- How much does Inter-county Energy Cooperative Corporation's highest-paid employee make?
- The highest reported compensation on Inter-county Energy Cooperative Corporation's latest Form 990 is $232,935, paid to Jerry Carter (President/ceo).
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Data for Inter-county Energy Cooperative Corporation (EIN 61-0235235) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.