2023-05-10T08:59:06-05:00 2022-12-31 610420207 JONES NALE & MATTINGLY PLC 401 WEST MAIN STREET SUITE 1100 LOUISVILLE KY 40202 990 2022-01-01 610344362 SOUTH KENTUCKY RURAL ELECTRIC COOPERATIVE CORPORATION SOUT 6066784121 PO BOX 910 SOMERSET KY 425020910 KENNETH E SIMMONS CEO 6066784121 2023-05-09 1 KENNETH SIMMONS 999009999 0 JONATHON D EADE P01254533 5025830248 3 AAL1 IAL1 2022 2023-04-26 12:10:37Z PO BOX 910 SOMERSET KY 425020910 167131660 0 X WWW.SKRECC.COM X 1938 KY PROVIDE ELECTRICITY TO MEMBER OWNERS ON A PATRONAGE BASIS. SERVE AN AVERAGE OF APPROXIMATELY 70,355 CONSUMERS MONTHLY. 7 7 140 0 0 0 3087600 0 131855897 158811545 829578 524846 5625377 7763316 141398452 167099707 11000 6000 9430774 9586336 17550554 16385474 0 0 0 114406124 141121897 141398452 167099707 0 0 324255253 345027547 167774916 178254571 156480337 166772976 PROVIDE ELECTRICITY TO MEMBER OWNERS ON A PATRONAGE BASIS. SERVE AN AVERAGE OF APPROXIMATELY 70,355 CONSUMERS MONTHLY. 0 0 167099707 6000 164493493 PROVIDE ELECTRIC SERVICE TO MEMBER OWNERS ON A PATRONAGE BASIS. SERVE AN AVERAGE OF APPROXIMATELY 70,355 CONSUMERS MONTHLY. 167099707 0 0 0 0 0 0 0 0 0 1 0 1 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 78 0 1 140 1 0 0 0 0 0 0 0 164493493 2606214 0 0 0 X 7 7 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X SHELLEY YOUNG CFO 6066784121 PO BOX 910 SOMERSET KY 42502 CATHY EPPERSON CHAIRMAN 7.86 X X 25508 0 0 BILLY HURD VICE CHAIRMAN 8.90 X X 21264 0 0 BORIS HAYNES SEC/TREASURER 6.63 X X 23717 0 0 RICK HALLORAN DIRECTOR 14.53 X 32728 0 0 BRENT TACKETT DIRECTOR 5.03 X 20563 0 0 GREG REDMON DIRECTOR 9.54 X 20848 0 0 THOMAS M NELSON JR DIRECTOR 7.13 X 21567 0 0 KENNETH SIMMONS PRESIDENT & CEO 45.00 X 273843 0 89215 MICHELLE HERRMAN FORMER CFO 45.00 X 190336 0 62717 JOHN NEWTON CHIEF OPERATIONS OFFICER 45.00 X 210235 0 71614 STANLEY TAYLOR CONSTRUCTION MGR 40.00 X 142892 0 9733 DAKOTA BROWN DIRECTOR OF ENGINEERING 40.00 X 140744 0 57716 DEREK MAURATH LEAD LINE TECHNICIAN 40.00 X 147807 0 41834 DAVID UPCHURCH JR DIRECTOR OF OPERATIONS 40.00 X 136219 0 19580 JERRY D WHITHAKER CONSTRUCTION CREW FOREMAN 40.00 X 128435 0 14848 1536706 0 367257 8 0 1 0 W A KENDALL & CO PO BOX 831 LAWRENCEVILLE KY 30046 ELECTRICAL CONTRACTORS 1533925 PHILLIPS TREE EXPERTS PO BOX 825124 PHILADELPHIA PA 19182 ROW CONTRACTORS 1064501 DAVIS H ELLIOT INC PO BOX 37251 BALTIMORE MD 21297 ELECTRICAL CONTRACTORS 1022986 ANTHONY WEISS-A CUT ABOVE TREE SERVICE 2213 RED BANKS ROAD BURKESVILLE KY 42717 ROW CONTRACTORS 277430 SOUTH CENTRAL KY JANITORIAL 346 ENTERPRISE DRIVE SOMERSET KY 42501 JANITORIAL SERVICES 175472 5 SALE OF ELECTRICITY 221000 158780937 158780937 SALE OF ELECTRIC ITEMS 221000 30608 30608 158811545 556694 556694 14800 105 14695 14695 14695 31848 -31848 -31848 -31848 PATRONAGE ASSOC ORGANS 221000 5442690 5442690 JOINT POLE ATTACHMENTS 221000 2034825 2034825 G&T CAPITAL CREDITS 221000 271106 271106 7748621 167099707 164493493 0 2606214 6000 6000 9586336 9586336 928905 928905 10811731 10811731 2997515 2997515 1647323 1647323 296293 296293 31794 31794 683558 683558 5254158 5254158 9964099 9964099 PURCHASE POWER 120218607 120218607 DISTRIBUTION - MAINTENA 9041853 9041853 CONSUMER ACCOUNTS 4264156 4264156 ADMINISTRATIVE AND GENE 4247491 4247491 -12880112 -12880112 167099707 167099707 0 0 1503672 1253606 6133043 14362778 10869815 11647568 1798503 2042773 473720 491392 308620625 98343090 204261960 210277535 85912226 89294422 13302314 15657473 324255253 345027547 15137352 15948174 137499819 147891892 15137745 14414505 167774916 178254571 X 1196930 1213436 -4845476 -2971435 160128883 168530975 156480337 166772976 324255253 345027547 X 0 10292639 X 0 1 X 1 0 308620625 98343090 210277535 210277535 PROGRAM RELATED INVESTMENTS 89294422 F 89294422 CUSTOMER DEPOSITS 2681345 ACCRUED EXPENSES 2768065 CONSUMER ADVANCES FOR CONSTRUCTION 399261 ACCUMULATED POSTRETIREMENT BENEFITS 8565834 14414505 X 167099707 0 167099707 0 0 167099707 167099707 0 167099707 0 167099707 PART X, LINE 2: THE COOPERATIVE RECOGNIZES UNCERTAIN INCOME TAX POSITIONS USING THE "MORE LIKELY THAN NOT" APPROACH AS DEFINED IN THE ASC. NO LIABILITY FOR UNCERTAIN TAX POSITIONS HAS BEEN RECORDED. 1 SCHOLARSHIPS 6 6000 X X X X 0 0 0 KENNETH SIMMONS PRESIDENT & CEO 273843 0 0 0 0 0 0 0 89215 0 363058 0 0 0 JOHN NEWTON CHIEF OPERATIONS OFFICER 210235 0 0 0 0 0 0 0 71614 0 281849 0 0 0 MICHELLE HERRMAN FORMER CFO 190336 0 0 0 0 0 0 0 62717 0 253053 0 0 0 DAKOTA BROWN DIRECTOR OF ENGINEERING 140744 0 0 0 0 0 0 0 57716 0 198460 0 0 0 DEREK MAURATH LEAD LINE TECHNICIAN 147807 0 0 0 0 0 0 0 41834 0 189641 0 0 0 DAVID UPCHURCH JR DIRECTOR OF OPERATIONS 136219 0 0 0 0 0 0 0 19580 0 155799 0 0 0 STANLEY TAYLOR CONSTRUCTION MGR 142892 0 0 0 0 0 0 0 9733 0 152625 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 LINE 6 EXPLANATION - MUST BE A MEMBER TO RECEIVE ELECTRIC SERVICE. MAY HAVE MORE THAN 1 SERVICE PER MEMBERSHIP. FORM 990, PART VI, SECTION A, LINE 7A LINE 7A EXPLANATION - BOARD MEMBERS SHALL BE ELECTED BY BALLOT, IN THE EVENT OF A CONTESTED ELECTION. OTHERWISE, BOARD MEMBERS MAY BE ELECTED BY BALLOT, VOICE, HAND, OR OTHER SUITABLE MEANS. BOARD MEMBERS SHALL BE ELECTED BY THE MEMBERS-AT-LARGE AT THE ANNUAL MEETING OF MEMBERS, OR AT A SPECIAL ELECTION. THE PERSON NOMINATED FOR DIRECTOR IN HIS DISTRICT, RECEIVING THE HIGHEST NUMBER OF VOTES OF THE MEMBERS AS CERTIFIED BY THE CREDENTIALS AND ELECTIONS COMMITTEE, IS THE PERSON ELECTED. FORM 990, PART VI, SECTION A, LINE 7B LINE 7B EXPLANATION - ARTICLES OF INCORPORATION MAY BE AMENDED BY A MAJORITY OF MEMBERS. BYLAWS MAY BE AMENDED BY A MAJORITY VOTE OF THE BOARD OF DIRECTORS AT ANY REGULAR OR SPECIAL BOARD MEETING. FORM 990, PART VI, SECTION B, LINE 11B LINE 11B EXPLANATION - DIRECTORS ARE FURNISHED A DRAFT COPY OF THE FORM 990 TO REVIEW PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C A QUESTIONNAIRE IS PREPARED BY EACH DIRECTOR AND KEY EMPLOYEE ON AN ANNUAL BASIS. FORM 990, PART VI, SECTION B, LINE 15 THE PLANNING AND DEVELOPMENT PROCESS IS ACCOMPLISHED ANNUALLY FOR ALL EMPLOYEES, INCLUDING KEY EMPLOYEES AND TOP EXECUTIVES. MANAGERS ARE RESPONSIBLE TO EVALUATE THEIR EMPLOYEES. MONETARY INCREASES ARE BASED ON THE NATIONAL AVERAGE WAGE BENCHMARK AS PROVIDED BY AN OUTSIDE CONSULTANT. THE BOARD OF DIRECTORS APPROVES SALARY ADJUSTMENTS THROUGH THE BUDGET PROCESS. THE BOARD OF DIRECTORS REVIEWS THE CEO PERFORMANCE TO DETERMINE COMPENSATION ON AN ANNUAL BASIS USING INDUSTRY DATA. FORM 990, PART VI, SECTION C, LINE 19 BYLAWS ARE AVAILABLE ON THE ORGANIZATION'S WEBSITE. ARTICLES OF ORGANIZATION AND THE CONFLICT OF INTEREST POLICY ARE AVAILABLE UPON REQUEST. FINANCIAL STATEMENTS ARE PUBLISHED IN THE ORGANIZATION'S MONTHLY PUBLICATION AND DISTRIBUTED TO ALL MEMBERS. A MEETING OF MEMBERS IS HELD ANNUALLY ACCORDING TO THE ORGANIZATION'S BYLAWS. FORM 990, PART XI, LINE 9: COMPREHENSIVE INCOME-POSTRETIREMENT BENEFITS 1,874,041. MARGINS ALLOCATED TO MEMBERS 9,586,336. MEMBERSHIPS ISSUED, NET 16,506. REFUND OF CAPITAL CREDITS -2,370,279. OTHER EQUITIES 1,186,035. 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 REPORTING RESULTS IN A DIFFERENCE BETWEEN BOOK INCOME AND INCOME REPORTED ON THE FORM 990 BY THE SAME AMOUNT.