Overview
What is Licking Valley Rural Electric Cooperative Corporation?
Licking Valley Rural Electric Cooperative Corporation is a nonprofit organization headquartered in West Liberty, Kentucky. Their primary mission revolves around providing electric service to their member-owners on a patronage basis, catering to an average of approximately 17,600 consumers monthly. This cooperative employs a team of 44 individuals in delivering power and ensuring the community's energy needs are met.
Official website here: www.lvrecc.com
What are the reviews and ratings of this charity?
Licking Valley Rural Electric Cooperative Corporation is not currently rated by Charity Navigator, primarily due to its status as a non-501(c)(3) IRS registered organization. Charity Navigator typically requires specific beacon scores, such as Accountability & Finance or Impact & Measurement, to provide a rating. As Licking Valley Rural Electric Cooperative Corporation is not eligible for these evaluations, its absence of a rating should neither be interpreted as positive nor negative.
The Cooperative's foundation status indicates that it is an independent organization, which suggests operational autonomy, but lacks the benefits of being a 501(c)(3) entity, such as tax-deductible contributions. Charity Navigator previously focused on Accountability and Finance for its ratings, a criterion not applicable here due to the Cooperative's classification outside of the typical nonprofit category the platform evaluates.
Information such as total revenue, expenses, and salaries of key persons are not available, which limits insights into its financial health and operational transparency. Without these data points, stakeholders might find it challenging to assess the Cooperative’s efficiency and accountability comprehensively.
This AI summary has been generated from information found on Charity Navigator.
Is Licking Valley Rural Electric Cooperative Corporation legitimate?
Licking Valley Rural Electric Cooperative Corporation is a legitimate nonprofit organization registered as a 501(c)(12) entity. Licking Valley Rural Electric Cooperative Corporation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $180,506
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.lvrecc.com
What is the mission statement of Licking Valley Rural Electric Cooperative Corporation?
The Licking Valley Rural Electric Cooperative Corporation focuses on providing electric service to its member owners on a patronage basis. With an average of approximately 17,597 consumers served monthly, the corporation strives to meet the electrical needs of its community. Its mission encompasses delivering reliable and efficient power solutions while maintaining a strong commitment to its members. The cooperative aims to foster a sense of partnership and ownership amongst its members and prioritizes their satisfaction. Additionally, it may engage in initiatives that promote energy conservation and sustainability.
Official website here: www.lvrecc.com
Who is the CEO of Licking Valley Rural Electric Cooperative Corporation?
Kerry Howard is the President of Licking Valley Rural Electric Cooperative Corporation. The CEO's salary of Licking Valley Rural Electric Cooperative Corporation is $147,506 and their total compensation is $173,995.
Official website here: www.lvrecc.com
What is the revenue of Licking Valley Rural Electric Cooperative Corporation?
Licking Valley Rural Electric Cooperative Corporation's revenue in 2022 was $35,858,923.
Official website here: www.lvrecc.com
Who are the executives of Licking Valley Rural Electric Cooperative Corporation and what are their salaries?
The average compensation at Licking Valley Rural Electric Cooperative Corporation during 2022 was $4,102. There are 44 employees at Licking Valley Rural Electric Cooperative Corporation.
Here are 12 key members and their salaries (Licking Valley Rural Electric Cooperative Corporation's CEO's salary is $147,506 and their total compensation is $173,995):
- Compensation: $3,600
- Related: $0
- Other: $0
- Compensation: $3,600
- Related: $0
- Other: $0
- Compensation: $7,200
- Related: $0
- Other: $0
- Compensation: $4,200
- Related: $0
- Other: $0
- Compensation: $3,600
- Related: $0
- Other: $0
- Compensation: $3,600
- Related: $0
- Other: $0
- Compensation: $3,600
- Related: $0
- Other: $0
- Compensation: $3,600
- Related: $0
- Other: $0
- Compensation: $147,506
- Related: $0
- Other: $26,489
- Compensation: $114,351
- Related: $0
- Other: $21,708
- Compensation: $112,052
- Related: $0
- Other: $32,299
- Compensation: $105,612
- Related: $0
- Other: $35,187
Official website here: www.lvrecc.com
Where can I find the form 990 for Licking Valley Rural Electric Cooperative Corporation?
Licking Valley Rural Electric Cooperative Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.lvrecc.com
Learn more at the official website: www.lvrecc.com
Mission Statement of Licking Valley Rural Electric Cooperative Corporation
Licking Valley Rural Electric Cooperative Corporation, or Licking Valley RECC, is a mission-driven entity that focuses on delivering electric services to its member-owners on a patronage basis. Serving an average of approximately 17,597 consumers monthly, this cooperative prioritizes the electricity needs of its community members.
In simple terms, Licking Valley RECC's primary objective is to ensure reliable and consistent electric service to its member-owners. By operating on a patronage basis, the cooperative uniquely positions itself to make decisions with the best interests of its members in mind. The cooperative's commitment to its community is reflected in its dedication to serving a sizable consumer base and addressing their electricity requirements. With a strong sense of responsibility, Licking Valley RECC strives to maintain a stable and efficient electric service network for the well-being of its member-owners.
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Impact
October, 2024
Licking Valley Rural Electric Cooperative Corporation plays a vital role in providing electric service to its member-owners in West Liberty, Kentucky. Serving an average of approximately 17,597 consumers each month, the cooperative operates on a patronage basis, ensuring that its members have access to reliable and affordable electricity. This community-focused approach not only supports local economies but also enhances the quality of life for residents by providing essential services. By prioritizing the needs of its members, Licking Valley strengthens community ties and promotes sustainable development in the region.
This information is meant to be a general summary of Licking Valley Rural Electric Cooperative Corporation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $29,437
- Program Service Revenue: $34,672,614
- Gross Receipts: $35,858,923
Assets and Liabilities:
- Total Assets: $79,923,890
- Total Liabilities: $40,142,558
- Net Assets: $39,781,332
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
ELECTRIC REVENUE SERVICE
Revenue
$34,672,614
Organization Details
Founding Year
1940
Phone
(606) 743-3179Principal Officer
Kerry Howard
Main Address
PO BOX 605, WEST LIBERTY, KY, 41472
Website
www.lvrecc.comNTEE Category
Code: W80 - Public benefit
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