Overview
What is Owen Electric Cooperative Inc?
Based in Owenton, Kentucky, Owen Electric Cooperative Inc is a dedicated nonprofit organization serving approximately 65,000 member accounts. Their primary mission revolves around providing electric service on a patronage basis, ensuring the safety, reliability, and affordability of power for their community. Despite being headquartered in Kentucky, they currently do not have any specified programs in place. Their ultimate goal is to enhance the lives of their members by delivering essential electric services.
Official website here: www.owenelectric.com
What are the reviews and ratings of this charity?
Owen Electric Cooperative Inc is not currently rated by Charity Navigator. This lack of rating does not indicate any specific positive or negative evaluation but rather reflects that the organization has not met the criteria for assessment, primarily due to its status as a non-501(c)(3) nonprofit. Charity Navigator evaluates only those nonprofits registered with the IRS as 501(c)(3) organizations.
Historically, Charity Navigator's assessments focused on Accountability and Finance but have since expanded to include other aspects like Leadership & Adaptability and Culture & Community. However, since Owen Electric Cooperative does not file electronically with the IRS as required for a 501(c)(3), these newer evaluative criteria are not applicable for this organization.
No user reviews are available for Owen Electric Cooperative Inc on GreatNonprofits. This lack of feedback provides no additional insight into public perception or detailed user experiences related to the organization’s performance or community impact.
This AI summary has been generated from information found on Charity Navigator.
Is Owen Electric Cooperative Inc legitimate?
Owen Electric Cooperative Inc is a legitimate nonprofit organization registered as a 501(c)(12) entity. Owen Electric Cooperative Inc 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: $2,487,308
Professional Fundraising Fees: $0
Other Salaries and Wages: $4,969,978
For more financial information, click here
Official website here: www.owenelectric.com
What is the mission statement of Owen Electric Cooperative Inc?
Owen Electric Cooperative Inc is committed to delivering electric service to its members on a patronage basis. With an average of 65,000 member accounts, the cooperative prioritizes enhancing the lives of its members. Through its dedication to providing safe, reliable, and affordable electric service, it aims to make a positive impact. While specific programs or initiatives were not mentioned, the cooperative's mission revolves around serving its members effectively.
Official website here: www.owenelectric.com
Who is the CEO of Owen Electric Cooperative Inc?
Michael L Cobb is the President And Ceo of Owen Electric Cooperative Inc. The CEO's salary of Owen Electric Cooperative Inc is $277,433 and their total compensation is $366,376.
Official website here: www.owenelectric.com
What is the revenue of Owen Electric Cooperative Inc?
Owen Electric Cooperative Inc's revenue in 2022 was $232,534,469.
Official website here: www.owenelectric.com
Who are the executives of Owen Electric Cooperative Inc and what are their salaries?
The average compensation at Owen Electric Cooperative Inc during 2022 was $55,651. There are 134 employees at Owen Electric Cooperative Inc.
Here are 18 key members and their salaries (Owen Electric Cooperative Inc's CEO's salary is $277,433 and their total compensation is $366,376):
- Compensation: $277,433
- Related: $0
- Other: $88,943
- Compensation: $171,870
- Related: $0
- Other: $67,039
- Compensation: $155,119
- Related: $0
- Other: $72,290
- Compensation: $146,789
- Related: $0
- Other: $70,087
- Compensation: $148,829
- Related: $0
- Other: $61,653
- Compensation: $140,401
- Related: $0
- Other: $67,745
- Compensation: $142,986
- Related: $0
- Other: $52,920
- Compensation: $129,685
- Related: $0
- Other: $44,518
- Compensation: $130,837
- Related: $0
- Other: $36,570
- Compensation: $139,918
- Related: $0
- Other: $19,473
- Compensation: $140,280
- Related: $0
- Other: $11,093
- Compensation: $29,031
- Related: $0
- Other: $0
- Compensation: $28,239
- Related: $0
- Other: $0
- Compensation: $27,545
- Related: $0
- Other: $0
- Compensation: $22,031
- Related: $0
- Other: $0
- Compensation: $21,795
- Related: $0
- Other: $0
- Compensation: $21,429
- Related: $0
- Other: $0
- Compensation: $20,760
- Related: $0
- Other: $0
Official website here: www.owenelectric.com
Where can I find the form 990 for Owen Electric Cooperative Inc?
Owen Electric Cooperative Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.owenelectric.com
Learn more at the official website: www.owenelectric.com
Mission Statement of Owen Electric Cooperative Inc
Owen Electric Cooperative, a mission-driven organization, focuses on delivering electric services to its members based on a patronage system. This cooperative aims to enhance the lives of its Members by ensuring the provision of safe, dependable, and economical electric power. By putting the needs of its Members first, Owen Electric Cooperative serves an impressive average of 65,000 accounts, making a significant impact in the community it serves.
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Impact
October, 2024
Owen Electric Cooperative Inc plays a crucial role in the community by delivering safe, reliable, and affordable electric service to its members. Serving approximately 65,000 member accounts, the cooperative focuses on enhancing the quality of life for its members through consistent and dependable energy supply. Located in Owenton, KY, Owen Electric is committed to a patronage-based model, ensuring that members benefit from the services provided. By prioritizing the needs of its members, Owen Electric Cooperative not only meets energy demands but also contributes to the overall well-being and development of the communities it serves.
This information is meant to be a general summary of Owen Electric Cooperative Inc. 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: $343,804
- Program Service Revenue: $226,825,219
- Gross Receipts: $232,534,469
Assets and Liabilities:
- Total Assets: $308,543,726
- Total Liabilities: $144,010,529
- Net Assets: $164,533,197
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Electric Service
Revenue
$226,699,373
Other
Revenue
$125,846
Organization Details
Founding Year
1937
Phone
(502) 484-3471Principal Officer
Michael L Cobb
Main Address
PO Box 400, Owenton, KY, 40359
Website
www.owenelectric.comNTEE Category
Code: W80 - Public benefit
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