Salt River Electric Cooperative

Learn about this cause: Is it Legit? Do I like the mission? What is the CEO's salary?

EIN: 610329022 ✦ Bardstown, KY ✦ Designated as a 501(c)(12)

Overview

What is Salt River Electric Cooperative?

Salt River Electric Cooperative, based in Bardstown, Kentucky, is a nonprofit organization that provides electric distribution sales to approximately 55,226 consumers monthly on a patronage basis. With a team of 85 employees, they deliver essential electricity services to their community. Their mission centers around distributing electricity to a substantial number of consumers in a cooperative manner.


Official website here: www.srelectric.com

Is Salt River Electric Cooperative legitimate?

Salt River Electric Cooperative is a legitimate nonprofit organization registered as a 501(c)(12) entity. Salt River Electric Cooperative submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are not tax deductible.

Here are some key statistics you may want to consider:

Executive Compensation: $417,357
Professional Fundraising Fees: $0
Other Salaries and Wages: $5,975,019

For more financial information, click here


Official website here: www.srelectric.com

What is the mission statement of Salt River Electric Cooperative?

Salt River Electric Cooperative focuses on providing electricity distribution to roughly 55,000 consumers on a patronage basis. Their primary activity revolves around selling electricity to this large customer base on a monthly basis. By operating on a patronage basis, they foster a sense of community and ownership among their consumers. The cooperative's mission is centered around delivering electricity to these households and businesses, ensuring a consistent electricity supply for their clientele. Additionally, they prioritize maintaining strong relationships with their customers, enhancing their commitment to the community they serve.


Official website here: www.srelectric.com

Who is the CEO of Salt River Electric Cooperative?

Timothy J Sharp is the Treasurer of Salt River Electric Cooperative. The CEO's salary of Salt River Electric Cooperative is $320,957 and their total compensation is $376,874.


Official website here: www.srelectric.com

What is the revenue of Salt River Electric Cooperative?

Salt River Electric Cooperative's revenue in 2022 was $141,723,833.


Official website here: www.srelectric.com

Who are the executives of Salt River Electric Cooperative and what are their salaries?

The average compensation at Salt River Electric Cooperative during 2022 was $75,204. There are 85 employees at Salt River Electric Cooperative.

Here are 12 key members and their salaries (Salt River Electric Cooperative's CEO's salary is $320,957 and their total compensation is $376,874):

    Tim Sharp (President & Ceo)
  • Compensation: $320,957
  • Related: $0
  • Other: $55,917

    • William Tucker (Lineman)
  • Compensation: $155,574
  • Related: $0
  • Other: $34,462

    • Chase Mills (Lineman)
  • Compensation: $143,866
  • Related: $0
  • Other: $41,198

    • Richard Hoops (Lineman)
  • Compensation: $135,957
  • Related: $0
  • Other: $33,697

    • William Clements (Lineman)
  • Compensation: $135,226
  • Related: $0
  • Other: $33,609

    • Melissa Hite (Lineman)
  • Compensation: $121,124
  • Related: $0
  • Other: $39,019

    • Joseph Osborne (Director)
  • Compensation: $20,041
  • Related: $0
  • Other: $0

    • Darrell Tingle (Treasurer) [Trustee/Director]
  • Compensation: $18,800
  • Related: $0
  • Other: $0

    • George Maddox (Secretary) [Trustee/Director]
  • Compensation: $18,800
  • Related: $0
  • Other: $0

    • Linda West (Chairman) [Trustee/Director]
  • Compensation: $17,459
  • Related: $0
  • Other: $0

    • David Stevens (Vice Chairman) [Trustee/Director]
  • Compensation: $17,200
  • Related: $0
  • Other: $0

    • John Hutchins (Director)
  • Compensation: $4,100
  • Related: $0
  • Other: $0


  • Official website here: www.srelectric.com

    Where can I find the form 990 for Salt River Electric Cooperative?

    The Salt River Electric Cooperative’s most recent form 990 was submitted in 2022 and can be accessed here


    Official website here: www.srelectric.com

    Learn more at the official website: www.srelectric.com

    Mission Statement of Salt River Electric Cooperative

    Salt River Electric Cooperative, a vital organization, is committed to providing distribution sales of electricity to approximately 55,226 consumers on a patronage basis every month. This cooperative, which operates on the principle of collective ownership and democratic member control, ensures a consistent electricity supply to its members.

    In simple terms, Salt River Electric Cooperative focuses on delivering electricity to around 55,226 consumers on a monthly basis, utilizing a patronage business model. By doing so, the cooperative prioritizes its members' interests and fosters a sense of community among its consumers. This model sets Salt River Electric Cooperative apart from typical utility companies, emphasizing the importance of member involvement and cooperation.

    The cooperative's primary mission lies in its dedication to delivering reliable electric power to its consumers. By sustaining a patronage basis, Salt River Electric Cooperative fosters a strong bond with its members, empowering them to have a voice in the organization's decision-making processes. This collaborative approach helps build a more sustainable and engaged community, where members share in the cooperative's successes and contribute to its ongoing growth.

    Impact

    This information is meant to be a general summary of Salt River Electric Cooperative. Please take the time to review official sources before making any decisions based upon the content provided here.




    Thursday, August 15, 2024

    Salt River Electric Cooperative's impact can be seen in the reliable distribution of electricity to an average of approximately 55,226 consumers on a monthly basis. By providing essential electricity services to a significant number of consumers in Bardstown, KY, the cooperative plays a crucial role in powering homes, businesses, and industries in the area. This reliable energy supply contributes to the economic development and overall well-being of the community it serves, ensuring that residents have access to the power they need for their daily activities and operations.





    Financials

    This financial information is from Propublica.

    Revenue
    Expenses
    Efficiency

    Other financial information:

    This information is from the most recently submitted tax form from this organization, which was in 2022.

  • Investment Income: $319,092
  • Program Service Revenue: $136,103,627
  • Gross Receipts: $141,723,833

    • Assets and Liabilities:
  • Total Assets: $201,692,612
  • Total Liabilities: $73,168,943
  • Net Assets: $128,523,669
  • Programs

    Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.

    ELECTRIC SERVICE

    Revenue

    $135,728,072

    ELECTRIC MERCHANDISE

    Revenue

    $375,555

    Organization Details

    Founding Year

    1936

    Principal Officer

    Timothy J Sharp

    Main Address

    PO BOX 609, BARDSTOWN, KY, 40004

    NTEE Category

    Code: W80 - Public benefit

    If you are a representative of Salt River Electric Cooperative and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.