2024-05-01T16:34:08-05:00 2023-12-31 610420207 JONES NALE & MATTINGLY PLC 401 WEST MAIN STREET SUITE 1100 LOUISVILLE KY 40202 990 2023-01-01 431948188 BLUE GRASS ENERGY COOPERATIVE CORP BLUE 8598854191 PO BOX 990 NICHOLASVILLE KY 403400990 LAUREN LOGAN CFO 8598854191 2024-04-29 1 LAUREN LOGAN 999009999 1 TRAVIS C FRICK P01728213 5025830248 2 AAL1 IAL1 2023 2023-04-26 12:10:37Z LAUREN LOGAN PO BOX 990 NICHOLASVILLE KY 403400990 151939523 0 X WWW.BGENERGY.COM X 1937 KY SINCE 1937, BLUE GRASS ENERGY HAS BEEN MAKING LIFE BETTER, THE COOPERATIVE WAY, FOR OUR MEMBERS AND COMMUNITIES BY PROVIDING SAFE, RELIABLE, AND AFFORDABLE ENERGY SERVICES. ELECTRICITY IS DELIVERED ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL. TODAY, BLUE GRASS ENERGY SERVES APPROXIMATELY 63,000 CONSUMERS IN 23 KENTUCKY COUNTIES. 8 8 98 0 0 0 0 0 157018460 147121990 -60709 415081 6117607 4402452 163075358 151939523 13500 16000 7467696 4513041 12088858 12809513 0 0 0 143505304 134600969 163075358 151939523 0 0 305801018 315283837 139064177 145422108 166736841 169861729 DISTRIBUTION SALES OF ELECTRICITY ON A PATRONAGE BASIS TO A MONTHLY AVERAGE OF APPROXIMATELY 63,000 CONSUMERS. BLUE GRASS ENERGY'S MISSION IS TO PROVIDE SAFE, RELIABLE, AFFORDABLE ENERGY SERVICES, WHILE IMPROVING THE QUALITY OF LIFE FOR OUR MEMBERS. 0 0 151939523 149693918 DISTRIBUTION SALES OF ELECTRICITY ON A PATRONAGE BASIS TO A MONTHLY AVERAGE OF APPROXIMATELY 63,000 CONSUMERS. 151939523 0 0 0 0 0 0 0 0 0 1 0 1 0 1 0 0 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 48 0 1 98 1 0 0 0 0 1 1 0 0 149693918 2245605 0 0 0 X 8 8 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X LAUREN LOGAN 8598854191 PO BOX 990 NICHOLASVILLE KY 40340 DENNIS MONEYHON CHAIRMAN 7.40 X X 22500 0 0 GARY KELLER VICE CHAIRMAN 8.00 X X 20700 0 0 JANE SMITH SEC/TREASURER 7.30 X X 21300 0 0 JODY HUGHES DIRECTOR 6.40 X 16800 0 0 PAUL TUCKER DIRECTOR 10.60 X 19804 0 0 DOUG FRITZ DIRECTOR 7.30 X 18900 0 0 RICHARD COBB IV DIRECTOR 9.30 X 19800 0 0 LU YOUNG DIRECTOR 5.10 X 19200 0 0 MICHAEL WILLIAMS PRESIDENT/CEO 50.00 X 906003 0 119248 CHARLES G WILLIAMSON III VP-FINANCIAL SERVICE 50.00 X 187837 0 59322 BEONKA STOCKTON VP-CORPORATE SERVICE 50.00 X 158607 0 19783 DENISE MYERS VP-PUBLIC RELATIONS 50.00 X 144404 0 60853 BOBBY MCCOUN VP-MEMBER SERVICES 50.00 X 160347 0 60884 ROBERT C BREWER JR VP-ENGINEERING 50.00 X 200778 0 42325 JAMES RAINEY CREW CHIEF 50.00 X 130171 0 33570 BRAD MARSHALL FORMER DIRECTOR 0.00 X 16966 0 0 2064117 0 395985 7 1 1 0 DAVIS H ELLIOTT PO BOX 37251 BALTIMORE MD 21297 LINE CONSTRUCTION AND REPAIR 4006337 WRIGHT TREE SERVICE PO BOX 1718 WEST DES MOINES IA 50306 RIGHT OF WAY MAINTENANCE 2492588 WA KENDALL PO BOX 831 LAWRENCEVILLE GA 30046 RIGHT OF WAY MAINTENANCE 1867926 ARBORWORKS LLC 40266 JUNCTION DR OAKHURST CA 93644 RIGHT OF WAY MAINTENANCE 1351161 MCLEAN ENGINEERING PO BOX 736729 DALLAS TX 75373 POLE ATTACHMENT ENGINEERING 608234 14 SALE OF ELECTRIC REVENUE 221000 147109396 147109396 SALE OF ELECTRIC MERCHANDISE 221000 12594 12594 147121990 415081 415081 G&T CAPITAL CREDITS 221000 2078489 2078489 JOINT USE POLE ATTACHMENT 221000 1830524 1830524 OTHER CREDITS 221000 424742 424742 68697 68697 4402452 151939523 149693918 0 2245605 16000 16000 4513041 4513041 1252845 1252845 7663148 7663148 1495008 1495008 1788537 1788537 609975 609975 41740 41740 26750 26750 634818 634818 3266934 3266934 12114517 12114517 473498 473498 COST OF POWER 112244948 112244948 DISTRIBUTION MAINTENANC 9895482 9895482 ADMINISTRATION AND GENE 4041627 4041627 CONSUMER ACCOUNTS 2855786 2855786 -10995131 -10995131 151939523 151939523 0 0 4711249 3858903 10996626 10470355 4038365 3954457 714287 734071 332469144 135506980 187148851 196962164 87502183 89862008 10689457 9441879 305801018 315283837 15964116 12676049 109313563 117547022 13786498 15199037 139064177 145422108 X 1160815 1178985 620984 620984 164955042 168061760 166736841 169861729 305801018 315283837 X 0 3124888 X X 0 1 X 1 0 644267 644267 8668078 4091416 4576662 323156799 131415564 191741235 196962164 PATRONAGE CAPITAL ASSIGNED, ASSOC 89862008 C 89862008 ACCUMULATED POST RETIREMENT BENEFITS 7472490 CONSUMER ADVANCES FOR CONSTRUCTION 671665 CONSUMER DEPOSITS 4931153 OTHER CURRENT AND ACCRUED LIABILITIES 2123729 15199037 1 SCHOLARSHIPS 11 16000 CASH X 1 1 X X X X X 0 1 0 MICHAEL WILLIAMS PRESIDENT/CEO 906003 0 0 0 0 0 0 0 119248 0 1025251 0 0 0 CHARLES G WILLIAMSON III VP-FINANCIAL SERVICE 187837 0 0 0 0 0 0 0 59322 0 247159 0 0 0 ROBERT C BREWER JR VP-ENGINEERING 200778 0 0 0 0 0 0 0 42325 0 243103 0 0 0 BOBBY MCCOUN VP-MEMBER SERVICES 160347 0 0 0 0 0 0 0 60884 0 221231 0 0 0 DENISE MYERS VP-PUBLIC RELATIONS 144404 0 0 0 0 0 0 0 60853 0 205257 0 0 0 BEONKA STOCKTON VP-CORPORATE SERVICE 158607 0 0 0 0 0 0 0 19783 0 178390 0 0 0 JAMES RAINEY CREW CHIEF 130171 0 0 0 0 0 0 0 33570 0 163741 0 0 0 BRAD MARSHALL FORMER DIRECTOR 16966 0 0 0 0 0 0 0 0 0 16966 0 0 0 PART I, LINE 1A BLUE GRASS WILL REIMBURSE AN EMPLOYEE FOR UP TO $20 PER MONTH FOR A HEALTH CLUB MEMBERSHIP IN COMPLIANCE WITH ITS WELLNESS PROGRAM. FORM 990, PART VI, SECTION A, LINE 6 MUST BE A MEMBER TO RECEIVE ELECTRIC SERVICE. EACH MEMBER HAS 1 VOTE. MAY HAVE MORE THAN 1 SERVICE PER MEMBERSHIP. FORM 990, PART VI, SECTION A, LINE 7A NOMINATING COMMITTEE MEETS EVERY YEAR TO SELECT MEMBER TO RUN FOR DIRECTOR. MEMBER MAY RUN FOR DIRECTOR WITH PETITION SIGNED BY ONE-HALF PERCENT OR MORE OF ELIGIBLE MEMBERS. FORM 990, PART VI, SECTION A, LINE 7B BYLAWS MAY BE ALTERED, AMENDED, OR REPEALED BY THE BOARD OF DIRECTORS AT ANY REGULAR OR SPECIAL MEETING; PROVIDED, THAT NOTICE OF THE MEETING, SHALL HAVE CONTAINED A COPY OF THE PROPOSED ALTERATION, AMENDMENT, OR REPEAL. FORM 990, PART VI, SECTION B, LINE 11B DIRECTORS ARE FURNISHED A DRAFT COPY OF THE 990 PRIOR TO FILING. MAY MAKE INQUIRIES OF INFORMATION CONTAINED IN THE FILING. ADDITIONALLY, AUDIT COMMITTEE MEETS WITH THE INDEPENDENT AUDITOR IN A CLOSED SESSION AND ARE ABLE TO ASK QUESTIONS AT THAT TIME. FORM 990, PART VI, SECTION B, LINE 12C ANNUAL QUESTIONNAIRE, DISCLOSING ANY CONFLICTS OF INTEREST OR RELATED PARTY TRANSACTIONS, ARE REQUIRED FOR ALL DIRECTORS AND KEY EMPLOYEES. FORM 990, PART VI, SECTION B, LINE 15 15A&B. EMPLOYEE COMPENSATION: TO BEST SERVE ITS MEMBERS, BLUE GRASS ENERGY IS PROUD TO ATTRACT AND RETAIN EMPLOYEES THAT ARE THE BEST OF THE BEST. THEY ARE COMPENSATED FROM A WAGE AND SALARY PLAN THAT IS EVALUATED ANNUALLY BY CONSULTANTS. NATIONAL, REGIONAL, AND LOCAL LABOR MARKETS ARE EVALUATED TO ASCERTAIN THOSE WAGES ARE IN-LINE WITH THE GEOGRAPHICAL AREA, THE LEVELS OF EXPERIENCE OF EMPLOYEES, AND ARE A COMPETITIVE MARKET WAGE. THIS IS REVIEWED AND APPROVED BY THE BOARD OF DIRECTORS EACH YEAR. THE TOTAL COMPENSATION PAID IN 2023 SHOWN ON THIS FORM 990 INCLUDES RETIREMENT BENEFITS PAID FROM A BENEFIT RESTORATION (BR) PLAN. THE BR PLAN PROVIDES RETIREMENT BENEFITS THAT ARE NOT ABLE TO BE PAID FROM BLUE GRASS ENERGY'S QUALIFIED PENSION PLAN, WHICH IS AVAILABLE TO ALL ELIGIBLE EMPLOYEES, DUE TO IRS IMPOSED LIMITS ON THE COMPENSATION AND BENEFITS USED FOR QUALIFIED PLANS. THE BR PLAN ENSURES THAT EMPLOYEES IMPACTED BY THE IRS LIMITS ARE ABLE TO RECEIVE TOTAL RETIREMENT BENEFITS IN AN EQUITABLE MANNER AS COMPARED TO EMPLOYEES WHO ARE NOT IMPACTED BY THE IRS LIMITS. 15B.DIRECTOR COMPENSATION: BLUE GRASS ENERGY DIRECTORS ARE REQUIRED TO SPEND A SUBSTANTIAL AMOUNT OF TIME AND ENERGY SERVING AS A DIRECTOR. THE COOPERATIVE SERVES APPROXIMATELY 63,000 CONSUMERS IN 23 KENTUCKY COUNTIES AND HAS $315 MILLION IN ASSETS IN ADDITION TO GENERATING $147 MILLION IN ANNUAL REVENUE. THE BOARD'S FIDUCIARY DUTY REQUIRES THEM TO COMMIT TO KEEPING CURRENT ABOUT THE ELECTRIC INDUSTRY, PREPARE FOR AND ATTEND BOARD MEETINGS, AND COMMUNICATE WITH MEMBERS. THE BOARD ALSO CREATES THE STRATEGIC DIRECTION FOR THE FUTURE OF THE COOPERATIVE. BECAUSE OF THESE RESPONSIBILITIES, THEY ARE REQUIRED TO OBTAIN AND KEEP A NATIONAL DIRECTOR CERTIFICATION THROUGH THE NATIONAL RURAL ELECTRIC COOPERATIVES OF AMERICA BY COMPLETING YEARLY TRAINING TARGETS. DIRECTORS DEVOTE MORE THAN 30 HOURS PER MONTH ON AVERAGE, AND AS AS A GROUP DEVOTED OVER 3,100 HOURS TO COOPERATIVE MATTERS. FORM 990, PART VI, SECTION C, LINE 19 BYLAWS AND FINANCIAL STATEMENTS ARE GIVEN TO MEMBERS ON AN ANNUAL BASIS. EACH YEAR AN ANNUAL MEETING OF THE MEMBERS IS HELD. FORM 990, PART XI, LINE 9: ACCUMULATED COMPREHENSIVE INCOME 1,413,671. MARGINS ALLOCATED TO MEMBERS 4,513,041. MEMBERSHIPS ISSUED 18,170. OTHER EQUITIES -214,566. REFUNDS OF CAPITAL CREDITS -2,605,428. FORM 990, PART XII, LINE 2C: THE AUDIT PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.