Owen Electric Cooperative Inc
501(c)(12)
Strong reserves Growing revenue
Owen Electric Cooperative Inc is a 501(c)(12) organization based in Owenton, Kentucky, registered in 1943, with $246,541,238 in FY2024 revenue.
Po Box 400, Owenton, KY, 40359 EIN 61-0299615 Since 1943
Revenue (FY2024)
$246.5M
▲ 3.7% vs prior year
Expenses (FY2024)
$246.5M
Net assets
$176.1M
Employees
128
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
A
—Program efficiency40% of the ratingNo expense breakdown in filings
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. Not scored for Owen Electric Cooperative Inc— this filing type doesn't report it, and the rating simply skips it (never counts it against the organization). See the exact thresholds →
AFinancial health25% of the rating9 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 Owen Electric Cooperative Inc: 9 mo reserves · +0% margin earns a A on this criterion. See the exact thresholds →
AGovernance25% of the rating5 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 Owen Electric Cooperative Inc: 5 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 Owen Electric Cooperative Inc: 4 of 5 disclosure signals earns a A on this criterion. See the exact thresholds →
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Mission
Provide electric service to members on a patronage basis. serve an average of 66,000 member accounts. improve our members' lives by providing safe, reliable, affordable electric service.
Contact & location
Financial trends
Revenue grew from $164.5M (FY2020) to $246.5M (FY2024) across 5 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $143.0MNet assets $176.1M
Operating margin
0.0%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$319.2M
Total liabilities
$143.0M
Net assets
$176.1M
Salaries & benefits
$11.2M
5% of expenses
Board members
7
0 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $246,541,238▲3.7% | $246,541,238▲3.7% | $176,142,124▲4.6% | $319,181,309▲0.8% | 990 |
| 2023 | $237,766,185▲2.2% | $237,766,185▲2.2% | $168,433,491▲2.4% | $316,615,301▲2.6% | 990 |
| 2022 | $232,534,469▲25.9% | $232,534,469▲25.9% | $164,533,197▲8.0% | $308,543,726▲9.9% | 990 |
| 2021 | $184,758,521▲12.3% | $184,758,521▲12.3% | $152,386,933▲5.0% | $280,661,277▲4.8% | 990 |
| 2020 | $164,482,553 | $164,482,553▼5.8% | $145,140,936▲81.0% | $267,754,840▲28.9% | 990 |
| 2012 | — | $174,532,090▲0.9% | $80,176,852▲11.0% | $207,756,555▲5.4% | 990 |
| 2011 | — | $172,992,593▲13.4% | $72,212,963▲10.9% | $197,168,370▲10.8% | 990 |
| 2010 | — | $152,494,264 | $65,109,703 | $177,962,932 | 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: Michael L Cobb — $364,392 (0.15% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Michael L Cobb | President and Ceo | 60 | $364,392 |
| Brian Jones | Vp of Operations | 50 | $166,978 |
| Jim Petreshock | Vp of Information Systems | 50 | $161,381 |
| Michael Stafford | Vp of Member Services | 50 | $161,115 |
| Joseph Waichulis | Service Technician | 60 | $158,058 |
| Jennifer Taylor | Vp of Engineering | 50 | $155,321 |
| Albert Pickett | Service Technician | 58 | $153,038 |
| Steven Moore | Service Technician | 57 | $151,165 |
| Joe Schmiade | Service Technician | 57 | $149,791 |
| Jerod Mulberry | Service Technician | 55 | $145,111 |
| Andrew Long | Vp of Engineering | 50 | $139,290 |
| Erin Rehkamp | Vp of Corporate Services | 50 | $136,990 |
| John Grant | Director | 7 | $26,775 |
| Charles Richarson | Secretary-treasurer | 6 | $26,679 |
| Richard Messingschlager | Director | 7 | $24,906 |
| Robert True | Director | 3 | $20,235 |
| Hope Kinman | Director | 4 | $19,674 |
| Eddie Mccord | Vice Chairman | 3 | $19,661 |
| Charles Alan Ahrman | Chairman | 6 | $19,200 |
Top vendors & contractors (FY2024)
| Contractor | Services | Paid |
|---|---|---|
| Asplundh | Tree Trimming | $3,593,308 |
| Epp-lectric | Lineman Crews | $1,472,033 |
| Mclean Engineering | Joint Use Inspections | $341,439 |
| Black and Mcdonald | Lineman Crews | $216,991 |
| Usic | Locating Service | $191,991 |
Frequently asked questions
- Is Owen Electric Cooperative Inc a legitimate nonprofit?
- Yes. Owen Electric Cooperative Inc is a 501(c)(12) organization registered with the U.S. Internal Revenue Service under EIN 61-0299615, based in Owenton, Kentucky.
- What is Owen Electric Cooperative Inc's EIN?
- Owen Electric Cooperative Inc's Employer Identification Number (EIN) is 61-0299615.
- How much revenue does Owen Electric Cooperative Inc report?
- Owen Electric Cooperative Inc reported $246,541,238 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- How much does Owen Electric Cooperative Inc's highest-paid employee make?
- The highest reported compensation on Owen Electric Cooperative Inc's latest Form 990 is $364,392, paid to Michael L Cobb (President and Ceo).
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Data for Owen Electric Cooperative Inc (EIN 61-0299615) 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.