2026-05-04T10:13:06-05:00 2025-12-31 610420207 JONES NALE & MATTINGLY PLC 401 WEST MAIN STREET SUITE 1100 LOUISVILLE KY 40202 990 2025-01-01 431948188 BLUE GRASS ENERGY COOPERATIVE CORP BLUE 8598854191 PO BOX 990 NICHOLASVILLE KY 403400990 LAUREN LOGAN CFO 8598854191 2026-04-27 1 TRAVIS C FRICK P01728213 5025830248 2025 2025-03-06 01:10:19Z LAUREN LOGAN PO BOX 990 NICHOLASVILLE KY 403400990 176652522 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 65,000 CONSUMERS IN 23 KENTUCKY COUNTIES. 7 7 101 0 0 0 0 0 155968369 168898470 194032 163481 3464623 7590571 159627024 176652522 15000 15000 1774333 8605960 13305997 13593883 0 0 0 144531694 154437679 159627024 176652522 0 0 320348732 330664501 150368706 152373781 169980026 178290720 DISTRIBUTION SALES OF ELECTRICITY ON A PATRONAGE BASIS TO A MONTHLY AVERAGE OF APPROXIMATELY 65,000 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 176652522 15000 174417369 DISTRIBUTION SALES OF ELECTRICITY ON A PATRONAGE BASIS TO A MONTHLY AVERAGE OF APPROXIMATELY 65,000 CONSUMERS. 176652522 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 66 0 1 101 1 0 0 0 0 1 1 0 0 168787883 5792967 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 X LAUREN LOGAN 8598854191 PO BOX 990 NICHOLASVILLE KY 40340 DENNIS MONEYHON SECRETARY 8.30 X X 22500 0 0 GARY KELLER VICE CHAIRMAN 7.70 X X 19200 0 0 JODY HUGHES DIRECTOR 6.60 X 17700 0 0 PAUL TUCKER DIRECTOR 7.90 X 20100 0 0 DOUG FRITZ DIRECTOR 8.90 X 20100 0 0 RICHARD COBB IV DIRECTOR 7.10 X 19200 0 0 LU YOUNG CHAIR 5.40 X X 21000 0 0 JANE SMITH DIRECTOR 0.60 X 49151 0 0 MICHAEL WILLIAMS PRESIDENT/CEO 50.00 X 455537 0 30984 LAUREN LOGAN VP-FINANCIAL SERVICE/CFO 50.00 X 147233 0 68454 BEONKA STOCKTON VP-CORPORATE SERVICE 50.00 X 176258 0 20862 DENISE MYERS VP-COMMUNITY RELATIONS 50.00 X 160385 0 44481 TREVOR JOHNSON CREW CHIEF 50.00 X 146267 0 52868 BOBBY MCCOUN VP-MEMBER SERVICES 50.00 X 175105 0 75334 ROBERT C BREWER JR VP-ENGINEERING 50.00 X 209163 0 44937 1658899 0 337920 43 0 1 0 DAVIS H ELLIOTT PO BOX 37251 BALTIMORE MD 21297 LINE CONSTRUCTION AND REPAIR 8739801 MCLEAN ENGINEERING PO BOX 736729 DALLAS TX 75373 POLE ATTACHMENT ENGINEERING 2692145 WA KENDALL PO BOX 831 LAWRENCEVILLE GA 30046 RIGHT OF WAY MAINTENANCE 1742520 WRIGHT TREE SERVICE PO BOX 1718 WEST DES MOINES IA 50306 RIGHT OF WAY MAINTENANCE 1595287 SOUTHERN DISASTER RECOVERY 93 SONIA DRIVE GREER SC 29650 RIGHT OF WAY MAINTENANCE 1017702 16 SALE OF ELECTRIC REVENUE 221000 168787883 168787883 SALE OF ELECTRIC MERCHANDISE 221000 110587 110587 168898470 163481 163481 G&T CAPITAL CREDITS 221000 4509171 4509171 JOINT USE POLE ATTACHMENT 221000 2071672 2071672 OTHER CREDITS 221000 973357 973357 36371 36371 7590571 176652522 174417369 0 2235153 15000 15000 8605960 8605960 791721 791721 8803064 8803064 1387244 1387244 1929604 1929604 682250 682250 237875 237875 20750 20750 699250 699250 3938344 3938344 13381877 13381877 589773 589773 COST OF POWER 128725377 128725377 DISTRIBUTION MAINTENANC 10108973 10108973 ADMINISTRATION AND GENE 4448666 4448666 DISTRIBUTION - OPERATIO 3704830 3704830 -11418036 -11418036 176652522 176652522 0 0 1852428 1928141 7363650 9789106 3271325 3823992 425104 470506 359898692 152369250 205434650 207529442 91117242 96134432 10884333 10988882 320348732 330664501 13866861 16045968 121242612 120683518 15259233 15644295 150368706 152373781 X 1197018 1219650 838606 780099 167944402 176290971 169980026 178290720 320348732 330664501 X 0 8310694 X X 0 0 1 0 644267 644267 8753788 4482408 4271380 350500637 147886842 202613795 207529442 PATRONAGE CAPITAL ASSIGNED, ASSOC 96134432 C 96134432 ACCUMULATED POST RETIREMENT BENEFITS 8030784 CONSUMER ADVANCES FOR CONSTRUCTION 926517 CONSUMER DEPOSITS 3843925 OTHER CURRENT AND ACCRUED LIABILITIES 2843069 15644295 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 0 0 MICHAEL WILLIAMS PRESIDENT/CEO 455537 0 0 0 0 0 0 0 30984 0 486521 0 0 0 ROBERT C BREWER JR VP-ENGINEERING 209163 0 0 0 0 0 0 0 44937 0 254100 0 0 0 BOBBY MCCOUN VP-MEMBER SERVICES 175105 0 0 0 0 0 0 0 75334 0 250439 0 0 0 LAUREN LOGAN VP-FINANCIAL SERVICE/CFO 147233 0 0 0 0 0 0 0 68454 0 215687 0 0 0 DENISE MYERS VP-COMMUNITY RELATIONS 160385 0 0 0 0 0 0 0 44481 0 204866 0 0 0 TREVOR JOHNSON CREW CHIEF 146267 0 0 0 0 0 0 0 52868 0 199135 0 0 0 BEONKA STOCKTON VP-CORPORATE SERVICE 176258 0 0 0 0 0 0 0 20862 0 197120 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. 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 65,000 CONSUMERS IN 23 KENTUCKY COUNTIES AND HAS $330 MILLION IN ASSETS IN ADDITION TO GENERATING $171 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 2,700 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 780,099. MARGINS ALLOCATED TO MEMBERS 8,605,960. MEMBERSHIPS ISSUED 22,632. OTHER EQUITIES -675,063. REFUNDS OF CAPITAL CREDITS -422,934. FORM 990, PART XII, LINE 2C: THE AUDIT PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. FORM 990, PART XII, LINE 3B: BLUE GRASS ENERGY WAS OBLIGATED FEDERAL AWARDS THROUGH FEMA FOR THE TAX YEAR ENDED 12/31/25 AND WILL TIMELY COMPLETE AND SUBMIT THE REQUIRED SINGLE AUDIT AS SET FORTH IN THE UNIFORM GUIDANCE FOR THE FISCAL YEAR ENDING 4/30/26. FORM 990, PART IX, LINE 4 REPRESENTS PATRONAGE CAPITAL ALLOCATED TO MEMBERS IN ACCORDANCE WITH THE COOPERATIVE'S BYLAWS. THIS REPORTING RESULTS IN A DIFFERENCE BETWEEN BOOK INCOME AND INCOME REPORTED ON THE FORM 990 BY THE SAME AMOUNT.