Salt River Electric Cooperative Corporation
501(c)(12)
100% goes to programs Strong reserves Growing revenue
Salt River Electric Cooperative Corporation is a 501(c)(12) organization based in Bardstown, Kentucky, registered in 1957, with $137,832,122 in FY2024 revenue. CharityIndex grades it A+, and it directs about 100% of spending to programs.
Po Box 609, Bardstown, KY, 40004 EIN 61-0329022 Since 1957
Revenue (FY2024)
$137.8M
▲ 2.3% vs prior year
Expenses (FY2024)
$137.8M
Net assets
$138.8M
Employees
74
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 Salt River Electric Cooperative Corporation: 100% to programs earns a A+ on this criterion. See the exact thresholds →
AFinancial health25% of the rating12 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 Salt River Electric Cooperative Corporation: 12 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 Salt River Electric 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 Salt River Electric Cooperative Corporation: 4 of 5 disclosure signals earns a A on this criterion. See the exact thresholds →
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Mission
Distribution sales of electricity on a patronage basis to an average of approximately 56,857 consumers monthly.
Contact & location
Financial trends
Revenue grew from $111.6M (FY2013) to $137.8M (FY2024) across 12 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $82.2MNet assets $138.8M
Operating margin
0.0%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$221.0M
Total liabilities
$82.2M
Net assets
$138.8M
Salaries & benefits
$11.4M
8% of expenses
Board members
6
6 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $137,832,122▲2.3% | $137,832,122▲2.3% | $138,796,810▲3.4% | $221,022,068▲4.2% | 990 |
| 2023 | $134,671,914▼5.0% | $134,671,914▼5.0% | $134,285,454▲4.5% | $212,048,137▲5.1% | 990 |
| 2022 | $141,723,833▲23.9% | $141,723,833▲23.9% | $128,523,669▲5.0% | $201,692,612▲7.8% | 990 |
| 2021 | $114,408,015▲11.0% | $114,408,015▲11.0% | $122,394,544▲5.6% | $187,060,575▲1.5% | 990 |
| 2020 | $103,102,993▼7.7% | $103,102,993▼7.7% | $115,851,614▲3.2% | $184,280,715▲2.7% | 990 |
| 2019 | $111,692,003▼2.3% | $111,692,003▼2.3% | $112,208,071▲5.2% | $179,433,871▲2.3% | 990 |
| 2018 | $114,365,425▲9.7% | $114,365,425▲9.7% | $106,653,530▲4.7% | $175,358,298▼1.2% | 990 |
| 2017 | $104,296,183▼7.2% | $104,296,183▼7.2% | $101,904,857▲3.9% | $177,492,279▲0.7% | 990 |
| 2016 | $112,388,935▲4.4% | $112,388,935▲4.4% | $98,114,329▲13.8% | $176,192,548▲8.1% | 990 |
| 2015 | $107,686,796▼6.1% | $107,686,796▼6.1% | $86,178,657▲4.6% | $163,001,923▲2.9% | 990 |
| 2014 | $114,676,936▲2.8% | $114,676,936▲2.8% | $82,418,080▲8.4% | $158,341,057▲3.7% | 990 |
| 2013 | $111,605,272 | $111,605,272▲5.9% | $76,026,899▲4.1% | $152,762,911▲13.4% | 990 |
| 2012 | — | $105,378,553▲0.1% | $73,001,649▲8.9% | $134,686,470▲3.8% | 990 |
| 2011 | — | $105,293,680▲13.7% | $67,052,634▲10.4% | $129,787,377▲1.8% | 990 |
| 2010 | — | $92,594,622 | $60,758,646 | $127,494,970 | 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: Tim Sharp — $381,410 (0.28% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Tim Sharp | President & Ceo | 45 | $381,410 |
| Chase Mills | Coo | 45 | $161,280 |
| William Clements | Lineman | 45 | $160,435 |
| Richard Hoops | Lineman | 45 | $153,311 |
| William Tucker | Lineman | 45 | $151,579 |
| Damien Ballard | Lineman | 45 | $149,433 |
| Jaime Roby | Cfo | 45 | $146,543 |
| John Hutchins | Director | 5 | $23,790 |
| George Maddox | Secretary | 5 | $22,390 |
| Darrell Tingle | Treasurer | 5 | $20,400 |
| Joseph Osborne | Director | 5 | $20,400 |
| David Stevens | Vice Chairman | 5 | $19,800 |
| Linda West | Chairman | 5 | $18,352 |
Top vendors & contractors (FY2024)
| Contractor | Services | Paid |
|---|---|---|
| David Elliot Constuction | Line Construction | $1,292,401 |
| Asplundh Tree Expert LLC | Tree Trimming | $1,138,618 |
| Country Line Tree Services LLC | Tree Trimming | $1,019,112 |
| M&m Electrical | Line Construction | $753,232 |
| Moore's Tree Service | Tree Trimming | $627,821 |
Frequently asked questions
- Is Salt River Electric Cooperative Corporation a legitimate nonprofit?
- Yes. Salt River Electric Cooperative Corporation is a 501(c)(12) organization registered with the U.S. Internal Revenue Service under EIN 61-0329022, based in Bardstown, Kentucky.
- What is Salt River Electric Cooperative Corporation's EIN?
- Salt River Electric Cooperative Corporation's Employer Identification Number (EIN) is 61-0329022.
- How much revenue does Salt River Electric Cooperative Corporation report?
- Salt River Electric Cooperative Corporation reported $137,832,122 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- How much of Salt River Electric Cooperative Corporation's spending goes to programs?
- Salt River Electric Cooperative Corporation spends about 100% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does Salt River Electric Cooperative Corporation have?
- CharityIndex grades Salt River Electric Cooperative Corporation A+, based on program efficiency and fundraising cost.
- How much does Salt River Electric Cooperative Corporation's highest-paid employee make?
- The highest reported compensation on Salt River Electric Cooperative Corporation's latest Form 990 is $381,410, paid to Tim Sharp (President & Ceo).
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Data for Salt River Electric Cooperative Corporation (EIN 61-0329022) 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.