2025-04-30T07:54:12-05:00 2024-12-31 610420207 JONES NALE & MATTINGLY PLC 401 WEST MAIN STREET SUITE 1100 LOUISVILLE KY 40202 990 2024-01-01 431948188 BLUE GRASS ENERGY COOPERATIVE CORP BLUE 8598854191 PO BOX 990 NICHOLASVILLE KY 403400990 LAUREN LOGAN CFO 8598854191 2025-04-24 1 1 TRAVIS C FRICK P01728213 5025830248 2024 2025-03-06 01:10:19Z LAUREN LOGAN PO BOX 990 NICHOLASVILLE KY 403400990 159627024 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 64,000 CONSUMERS IN 23 KENTUCKY COUNTIES. 8 8 107 0 0 0 0 0 147121990 155968369 415081 194032 4402452 3464623 151939523 159627024 16000 15000 4513041 1774333 12809513 13305997 0 0 0 134600969 144531694 151939523 159627024 0 0 315283837 320348732 145422108 150368706 169861729 169980026 DISTRIBUTION SALES OF ELECTRICITY ON A PATRONAGE BASIS TO A MONTHLY AVERAGE OF APPROXIMATELY 64,000 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 159627024 15000 157471869 DISTRIBUTION SALES OF ELECTRICITY ON A PATRONAGE BASIS TO A MONTHLY AVERAGE OF APPROXIMATELY 64,000 CONSUMERS. 159627024 0 0 0 0 0 0 0 0 0 1 0 1 0 1 1 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 75 0 1 107 1 0 0 0 0 1 1 0 0 157471869 2155155 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 X LAUREN LOGAN 8598854191 PO BOX 990 NICHOLASVILLE KY 40340 DENNIS MONEYHON CHAIRMAN 7.90 X X 23100 0 0 GARY KELLER VICE CHAIRMAN 9.20 X X 20700 0 0 JANE SMITH SEC/TREASURER 8.00 X X 21900 0 0 JODY HUGHES DIRECTOR 6.20 X 17700 0 0 PAUL TUCKER DIRECTOR 8.60 X 18600 0 0 DOUG FRITZ DIRECTOR 8.40 X 20100 0 0 RICHARD COBB IV DIRECTOR 9.00 X 21000 0 0 LU YOUNG DIRECTOR 5.60 X 18900 0 0 MICHAEL WILLIAMS PRESIDENT/CEO 50.00 X 437542 0 68846 CHARLES G WILLIAMSON III VP-FINANCIAL SERVICE 50.00 X 75700 0 11611 LAUREN LOGAN VP-FINANCIAL SERVICE 50.00 X 136268 0 41033 BEONKA STOCKTON VP-CORPORATE SERVICE 50.00 X 164919 0 18552 DENISE MYERS VP-PUBLIC RELATIONS 50.00 X 153075 0 63855 BOBBY MCCOUN VP-MEMBER SERVICES 50.00 X 168197 0 69022 ROBERT C BREWER JR VP-ENGINEERING 50.00 X 205035 0 41154 WESLEY WADE FIRST CLASS LINE TECH 50.00 X 137199 0 16624 BRAD MARSHALL FORMER DIRECTOR 0.00 X 36368 0 0 1676303 0 330697 41 1 1 0 DAVIS H ELLIOTT PO BOX 37251 BALTIMORE MD 21297 LINE CONSTRUCTION AND REPAIR 4902634 WA KENDALL PO BOX 831 LAWRENCEVILLE GA 30046 RIGHT OF WAY MAINTENANCE 1837154 WRIGHT TREE SERVICE PO BOX 1718 WEST DES MOINES IA 50306 RIGHT OF WAY MAINTENANCE 1787554 MCLEAN ENGINEERING PO BOX 736729 DALLAS TX 75373 POLE ATTACHMENT ENGINEERING 1522447 ARBORWORKS LLC 40266 JUNCTION DR OAKHURST CA 93644 RIGHT OF WAY MAINTENANCE 1465771 12 SALE OF ELECTRIC REVENUE 221000 155462017 155462017 SALE OF ELECTRIC MERCHANDISE 221000 506352 506352 155968369 194032 194032 JOINT USE POLE ATTACHMENT 221000 1961123 1961123 G&T CAPITAL CREDITS 221000 772944 772944 OTHER CREDITS 221000 689870 689870 40686 40686 3464623 159627024 157471869 0 2155155 15000 15000 1774333 1774333 790652 790652 8630525 8630525 1432759 1432759 1783448 1783448 668613 668613 41766 41766 31350 31350 670312 670312 3639565 3639565 12787114 12787114 531433 531433 COST OF POWER 119810459 119810459 DISTRIBUTION MAINTENANC 10525417 10525417 ADMINISTRATION AND GENE 4115079 4115079 DISTRIBUTION - OPERATIO 3156038 3156038 -10776839 -10776839 159627024 159627024 0 0 3858903 1852428 10470355 7363650 3954457 3271325 734071 425104 349285877 143851227 196962164 205434650 89862008 91117242 9441879 10884333 315283837 320348732 12676049 13866861 117547022 121242612 15199037 15259233 145422108 150368706 X 1178985 1197018 620984 838606 168061760 167944402 169861729 169980026 315283837 320348732 X 0 118297 X X 0 1 X 1 1 1 644267 644267 8715117 4292206 4422911 339926493 139559021 200367472 205434650 PATRONAGE CAPITAL ASSIGNED, ASSOC 91117242 C 91117242 ACCUMULATED POST RETIREMENT BENEFITS 7877617 CONSUMER ADVANCES FOR CONSTRUCTION 902744 CONSUMER DEPOSITS 3509524 OTHER CURRENT AND ACCRUED LIABILITIES 2969348 15259233 X PART X, LINE 2: BLUE GRASS'S ACCOUNTING POLICY PROVIDES THAT A TAX EXPENSE/BENEFIT FROM AN UNCERTAIN TAX POSITION MAY BE RECOGNIZED WHEN IT IS MORE LIKELY THAN NOT THAT THE POSITION WILL BE SUSTAINED UPON EXAMINATION, INCLUDING RESOLUTIONS OF ANY RELATED APPEALS OR LITIGATION PROCESSES, BASED ON THE TECHNICAL MERITS. BLUE GRASS HAS NO UNCERTAIN TAX POSITIONS RESULTING IN AN ACCRUAL OF TAX EXPENSE OR BENEFIT. 1 SCHOLARSHIPS 10 15000 CASH X 1 1 X X X X X 0 1 0 MICHAEL WILLIAMS PRESIDENT/CEO 437542 0 0 0 0 0 0 0 68846 0 506388 0 0 0 ROBERT C BREWER JR VP-ENGINEERING 205035 0 0 0 0 0 0 0 41154 0 246189 0 0 0 BOBBY MCCOUN VP-MEMBER SERVICES 168197 0 0 0 0 0 0 0 69022 0 237219 0 0 0 DENISE MYERS VP-PUBLIC RELATIONS 153075 0 0 0 0 0 0 0 63855 0 216930 0 0 0 BEONKA STOCKTON VP-CORPORATE SERVICE 164919 0 0 0 0 0 0 0 18552 0 183471 0 0 0 LAUREN LOGAN VP-FINANCIAL SERVICE 136268 0 0 0 0 0 0 0 41033 0 177301 0 0 0 WESLEY WADE FIRST CLASS LINE TECH 137199 0 0 0 0 0 0 0 16624 0 153823 0 0 0 CHARLES G WILLIAMSON III VP-FINANCIAL SERVICE 75700 0 0 0 0 0 0 0 11611 0 87311 0 0 0 BRAD MARSHALL FORMER DIRECTOR 36368 0 0 0 0 0 0 0 0 0 36368 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. PART II FORMER DIRECTOR COMPENSATION PAID IN 2024 INCLUDES DISTRIBUTIONS FROM A DEFERRED COMPENSATION PLAN. UNDER A 457(B) PLAN SPONSORED BY BLUE GRASS ENERGY, DIRECTORS ARE ELIGIBLE TO ELECT TO FORGO COMPENSATION IN THE YEAR IT IS EARNED AND RECEIVE THIS COMPENSATION LATER AS A RETIREMENT BENEFIT. CONTRIBUTIONS TO BLUE GRASS ENERGY'S 457(B) PLAN WERE ONLY MADE FROM THE FORMER DIRECTOR'S NORMAL WAGES, NOT BY BLUE GRASS ENERGY ITSELF, AND THEREFORE DID NOT INCREASE COOPERATIVE EXPENSES. WHEN A DEFERRED COMPENSATION PLAN IS UTILIZED AND CORRECTLY REPORTED, IT WILL BE REFLECTED ON THE 990 TWICE, IN BOTH THE YEAR IT IS EARNED AND THE YEAR IT IS DISTRIBUTED. 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. 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 64,000 CONSUMERS IN 23 KENTUCKY COUNTIES AND HAS $320 MILLION IN ASSETS IN ADDITION TO GENERATING $157 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 3,200 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 838,606. MARGINS ALLOCATED TO MEMBERS 1,774,333. MEMBERSHIPS ISSUED 18,033. OTHER EQUITIES -383,388. REFUNDS OF CAPITAL CREDITS -2,129,287. FORM 990, PART XII, LINE 2C: THE AUDIT PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.