2024-05-03T11:34:39-07:00 2023-12-31 990 2023-01-01 610299615 OWEN ELECTRIC COOPERATIVE INC OWEN 5024843471 PO Box 400 Owenton KY 40359 Michael Cobb President and CEO 5025633500 2024-05-08 Michael Cobb 999009999 1 1 11 0 AAL2 2023 2023-04-26 12:10:37Z X Michael L Cobb PO Box 400 Owenton KY 40359 237766185 0 X www.owenelectric.com X 1937 KY Provide electric service to members on a patronage basis. Serve an average of 66,000 member accounts. Improve our members' lives by providing safe, reliable, affordable electric service. 7 0 138 0 0 0 0 0 226825219 232713777 343804 868752 5365446 4183656 232534469 237766185 0 0 9661962 6365643 11221674 11285251 0 0 0 211650833 220115291 232534469 237766185 0 0 308543726 316615301 144010529 148181810 164533197 168433491 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 1 107 0 1 138 1 0 0 0 0 0 232713777 4183655 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 Hollie Breeden 5024843471 PO Box 400 Owenton KY 40359 Michael L Cobb President and CEO 60 X 320451 0 88797 Teresa Hamilton VP of Accounting 50 X 199765 0 66930 Jennifer Taylor VP of Engineering 50 X 179479 0 71479 Michael Stafford VP of Member Services 50 X 152737 0 72084 Jim Petreshock VP of Information Systems 50 X 152386 0 71685 Brian Jones VP of Operations 50 X 167220 0 27524 Steven Moore Service Technician 55 X 139251 0 46642 Jerod Mulberry Service Technician 53 X 133149 0 44010 Albert Pickett Service Technician 54 X 137199 0 35536 Joe Schmiade Service Technician 56 X 145805 0 18084 Larry Richardson Service Technician 54 X 142392 0 8852 Richard Messingschlager Vice Chairman of the Board 9 X 30923 0 0 John Grant Chairman of the Board 8 X 27950 0 0 Charles Richarson Director 6 X 24999 0 0 Eddie McCord Director 4 X 22211 0 0 Hope Kinman Secretary/Treasurer 5 X 21659 0 0 Charles Alan Ahrman Director 7 X 20773 0 0 Erin Rehkamp VP of Corporate Services 50 X 20336 0 89 Robert True Director 3 X 19365 0 0 2058050 0 551712 52 1 1 0 Asplundh PO Box 532729 Atlanta GA 30353 Tree Trimming 3661633 Epp-Lectric 1040 Knoxville Rd Dry Ridge KY 41035 Lineman Crews 1100670 Advanced Meter Services PO Box 430 Cynthiana KY 41031 Meter Installations 397966 Mclean Engineering PO Box 2587 Moultrie GA 317762587 Joint Use Inspections 254366 USIC PO Box 715409 Cincinnati OH 452715409 Locating Service 203051 8 0 Electric Service 221000 232716194 232716194 0 0 Other 221000 -2417 -2417 0 0 0 0 0 0 232713777 868752 0 0 868752 0 0 0 0 0 0 0 0 0 0 0 0 G&T Capital Credits 221000 2554900 0 0 2554900 Joint Pole Attachments 221000 1137879 0 0 1137879 Other Capital Credits 221000 490877 0 0 490877 0 0 0 0 4183656 237766185 232713777 0 5052408 6365643 2609762 5083425 1294017 1795960 502087 37900 55138 3647968 12471398 Cost of Purchase Power 192234745 Operations and Maintenance 8018669 General and Administrative 1932594 Customer Service and Accounts 1665682 51197 237766185 0 0 0 3043823 1751320 9609797 17212986 0 21052191 19293890 2297059 2436122 7582583 5819979 354474861 186656840 165234112 167818021 0 0 0 0 99724161 102282983 308543726 316615301 22451718 18783081 94203053 107999269 27355758 21399460 144010529 148181810 X 1313185 1332005 8061184 8578865 155158828 158522621 164533197 168433491 308543726 316615301 X 0 0 0 0 0 3900294 X 0 1 X 1 0 2119290 0 2119290 13706607 0 5581613 8124994 0 0 0 0 338648964 0 181075227 157573737 0 0 0 0 167818021 Investments in Associated Organizations 100879038 CTCs and Other Investments 1361933 Cash Surrender Value Life Insurance 42012 102282983 Accrued Expenses 3721739 Advances for Construction and Deferred Credit 2688252 Consumer Deposits and Interest Payable on Consumer Deposits 2303788 Post Retirement Benefits 12685681 21399460 233854072 0 0 0 0 0 233854072 0 3912113 3912113 237766185 231349345 0 0 0 0 0 231349345 0 6416840 6416840 237766185 Schedule D, Part XI, Line 4b G&T Capital Credits $2,554,900. Other Capital Credits $490,877. Interest Income $868,753 and Other Margins ($2,417). Total $3,912,113. Schedule D, Part XII, Line 4b Net Margins $6,365,643 and Other $51,197. Total $6,416,840. X X X X X 0 0 0 Michael L Cobb President and CEO 320451 0 0 0 0 0 67470 0 21327 0 409248 0 0 0 Teresa Hamilton VP of Accounting 199765 0 0 0 0 0 49759 0 17171 0 266695 0 0 0 Jennifer Taylor VP of Engineering 179479 0 0 0 0 0 58727 0 12751 0 250957 0 0 0 Brian Jones VP of Operations 167220 0 0 0 0 0 6981 0 20543 0 194744 0 0 0 Michael Stafford VP of Member Services 152737 0 0 0 0 0 51584 0 20500 0 224821 0 0 0 Jim Petreshock VP of Information Systems 152386 0 0 0 0 0 51182 0 20502 0 224070 0 0 0 Erin Rehkamp VP of Corporate Services 20336 0 0 0 0 0 0 0 89 0 20425 0 0 0 Jerod Mulberry Service Technician 133149 0 0 0 0 0 31965 0 12045 0 177159 0 0 0 Albert Pickett Service Technician 137199 0 0 0 0 0 32164 0 3372 0 172735 0 0 0 Steven Moore Service Technician 139251 0 0 0 0 0 32256 0 14385 0 185892 0 0 0 Larry Richardson Service Technician 142392 0 0 0 0 0 5809 0 3043 0 151244 0 0 0 Joe Schmiade Service Technician 145805 0 0 0 0 0 5987 0 12097 0 163889 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 run 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 inquires 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 upon 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 $6,365,643, Memberships Issued $18,820, Refund of Capital Credits ($1,914,810), and Unrealized Gain/Loss ($569,359)