2023-05-04T08:27:42-07:00 2022-12-31 990 2022-01-01 610299615 OWEN ELECTRIC COOPERATIVE INC OWEN 5024843471 PO Box 400 Owenton KY 40359 Michael Cobb President and CEO 5025633500 2023-05-04 1 1 11 0 AAL2 2022 2023-04-26 12:10:37Z X Michael L Cobb 8205 Hwy 127N PO Box 400 Owenton KY 40359 232534469 0 X www.owenelectric.com X 1937 KY Provide electric service to members on a patronage basis. 7 0 134 0 0 0 0 0 182142446 226825219 77806 343804 2538269 5365446 184758521 232534469 0 0 8484972 9661962 11020074 11221674 0 0 0 165253475 211650833 184758521 232534469 0 0 280661277 308543726 128274344 144010529 152386933 164533197 Provide electric service to members on a patronage basis. Serve an average of 65,000 member accounts. Improve our Member's lives by providing safe, reliable, and affordable electric service. 0 0 Not Applicable 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 130 0 1 134 1 0 0 0 0 0 226825319 5365446 0 0 0 X 7 0 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X Teresa M Hamilton 5024843471 PO Box 400 Owenton KY 40359 Michael L Cobb President and CEO 60 X 277433 0 88943 Jennifer Taylor VP of Engineering 50 X 171870 0 67039 Teresa Hamilton VP of Accounting 50 X 155119 0 72290 Brian Jones VP of Operations 50 X 146789 0 70087 Michael Stafford VP of Member Services 50 X 148829 0 61653 Jim Petreshock VP of Information Systems 50 X 140401 0 67745 Joseph Waichulis Service Technician 58.80 X 142986 0 52920 Jerod Mulberry Service Technician 52 X 129685 0 44518 Albert Pickett Service Technician 57.20 X 130837 0 36570 Joe Schmiade Service Technician 58 X 139918 0 19473 Larry Richardson Service Technician 56.60 X 140280 0 11093 Richard Messingschlager Vice Chairman of the Board 8 X 29031 0 0 Charles Richarson Director 6 X 28239 0 0 John Grant Chairman of the Board 7 X 27545 0 0 Eddie McCord Director 4 X 22031 0 0 Robert True Director 3 X 21795 0 0 Hope Kinman Secretary/Treasurer 4 X 21429 0 0 Charles Alan Ahrman Director 7 X 20760 0 0 1894977 0 592331 60 0 1 0 Bowlin Group LLC 12200 Chandler Drive Walton KY 41094 Lineman Crews 187670 Apex Row LLC 704 E Church St Morriton AR 72110 Tree Trimming 100974 Advanced Meter Services PO Box 430 Cynthiana KY 41031 Meter Installations 168648 Stellarops LLC 2041 Creative Dr Unit 55153 Lexington KY 40555 IT Consultant 149649 4 0 Electric Service 221000 226699373 226699373 0 0 Other 221000 125846 125846 0 0 0 0 0 0 226825219 343804 0 0 343804 0 0 0 0 0 0 0 0 0 0 0 0 G&T Capital Credits 221000 3912026 0 0 3912026 Joint Pole Attachments 221000 1164110 0 0 1164110 Other Capital Credits 221000 289310 0 0 289310 0 0 0 0 5365446 232534469 226825219 0 5709250 9661962 2487308 4969978 1394462 1879715 490211 53283 82011 3152037 11766994 Cost of Purchase Power 186217312 Operations and Maintenance 7179847 General and Administrative 1612239 Customer Service and Accounts 1528314 58796 232534469 0 0 0 2552921 3043823 8004348 9609797 0 11778877 21052191 0 0 0 1741130 2297059 5732448 7582583 344308044 179073932 153119667 165234112 0 0 97731886 99724161 280661277 308543726 13043710 22451718 0 0 0 0 0 89473155 94203053 25757479 27355758 128274344 144010529 X 1292175 1313185 4647451 8061184 146447307 155158828 152386933 164533197 280661277 308543726 X 0 0 0 0 0 12146264 X 0 1 X 1 0 2286790 0 2286790 13374668 0 5225317 8149351 0 0 0 0 328646586 0 173848615 154797971 0 0 0 0 165234112 Investments in Associated Organizations 98050925 CTCs and Other Investments 1382243 Cash Surrender Value Life Ins 44385 Pension Prepayment 246608 99724161 Accrued Expenses 3582860 Advances for Construction and Deferred Credit 5098472 Consumer Deposits and Interest Payable on Consumer Deposits 2270813 Post Retirement Benefits 11954745 Short Term Borrowings 4448868 27355758 227863483 0 0 0 0 0 227863483 0 4670986 4670986 232534469 222813711 0 0 0 0 0 222813711 0 9720758 9720758 232534469 Schedule D, Part XI, Line 4b G&T Capital Credits $3,912,026, Other Capital Credits $289,310, Interest Income $343,805, and Other Margins $125,846. Total $ 4,670,987. Schedule D, Part XII, Line 4b Net Margins $9,661,962 and Other $ 58,796. Total $9,720,758 X X X X X 0 0 0 Michael L Cobb President and CEO 277433 0 0 0 88943 0 0 0 0 0 366376 0 0 0 Brian Jones VP of Operations 146789 0 0 0 70087 0 0 0 0 0 216876 0 0 0 Jennifer Taylor VP of Engineering 171870 0 0 0 67039 0 0 0 0 0 238909 0 0 0 Teresa Hamilton VP of Accounting 155119 0 0 0 72291 0 0 0 0 0 227410 0 0 0 Michael Stafford VP of Member Services 148829 0 0 0 61653 0 0 0 0 0 210482 0 0 0 Jim Petreshock VP of Information Systems 140401 0 0 0 67745 0 0 0 0 0 208146 0 0 0 Albert Pickett Service Technician 130837 0 0 0 36570 0 0 0 0 0 167407 0 0 0 Joseph Waichulis Service Technician 142986 0 0 0 52920 0 0 0 0 0 195906 0 0 0 Larry Richardson Service Technician 140280 0 0 0 11093 0 0 0 0 0 151373 0 0 0 Joe Schmiade Service Technician 139918 0 0 0 19473 0 0 0 0 0 159391 0 0 0 Jerod Mulberry Service Technician 129685 0 0 0 44518 0 0 0 0 0 174203 0 0 0 John Grant Chairman of the Board 27545 0 0 0 0 0 0 0 0 0 27545 0 0 0 Richard Messingschlager Vice Chairman of the Board 29031 0 0 0 0 0 0 0 0 0 29031 0 0 0 Charles Richarson Director 28239 0 0 0 0 0 0 0 0 0 28239 0 0 0 Hope Kinman Secretary/Treasurer 21429 0 0 0 0 0 0 0 0 0 21429 0 0 0 Eddie McCord Director 22031 0 0 0 0 0 0 0 0 0 22031 0 0 0 Robert True Director 21795 0 0 0 0 0 0 0 0 0 21795 0 0 0 Charles Alan Ahrman Director 20760 0 0 0 0 0 0 0 0 0 20760 0 0 0 Form 990, Part VI, Section A, Line 6 Must be a member to receive electric service. Each member has one vote. May have more than one service per membership. Form 990, Part VI, Section A, Line 7a Election of Governing Body - Nominating Committee meets every year there is an election to select a member to fun for director. Member may run for director with petition signed by forty (40) or more eligible members. Form 990, Part VI, Section A, Line 7b Governance Decisions - Articles of Incorporation can only be changed by at least a 2/3 majority of membership. By-laws may be altered, amended, repealed by a majority vote of the Board of Directors. Form 990, Part VI, Section B, Line 11b Form 990 Review - Directors are furnished with a draft copy of the Form 990 prior to filing; they can make inquiries of and changes to information contained within. Form 990, Part VI, Section B, Line 12c Compliance with Conflict of Interest Policy - There is a board policy requiring directors and employees to disclose any potential conflicts of interest. A form is utilized for this disclosure and completed forms are maintained at the cooperative's office. Form 990, Part VI, Section B, Line 15 Compensation Review and Approval - The Cooperative utilizes a wage and salary survey conducted by NRECA to evaluate the compensation for all employees. This annual wage and salary considers regional market conditions. The wage and salary proposal is reviewed by the Board of Directors. Form 990, Part VI, Section C, Line 19 Publicly available documents - The cooperative's Article of Incorporation and By-Laws are made available on the Cooperative's website. Once a year, by-laws are included in the Cooperative's monthly magazine. The conflict of interest policy would be made available on request. The Cooperative's annual financial statement summary is included in the Cooperative's monthly magazine, and the Cooperative's audited financial statements and detailed financial information are made available on the Kentucky Public Service Commission's website. Form 990, Part XI, Line 9 Margins allocated to Members $9,661,961.97, Memberships Issued $21,010, Refunds of Capital Credits $(2,154,726), and Unrealized Gain $ 4,618,019.