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Farmers Rural Electric Cooperative Corporation

  • Glasgow, KY
  • Tax-exempt since Aug. 1940
  • EIN: 61-0189417

Organization summary

Type of Nonprofit

Designated as a Benevolent life insurance associations, irrigation companies, telephone companies, etc., which have a mutually beneficial nature.

Donations to this organization are not tax deductible.

Summary charts: organization finances over time

Revenue
$61.7M (2023)

Expenses
$61.7M (2023)

Total Assets
$133M (2023)

Total Liabilities
$78.6M (2023)

Source: Form 990 tax filings from 2011 to 2023

Tax Filings and Audits by Year

Form 990 is an information return that most organizations claiming federal tax-exempt status must file yearly with the IRS. Nonprofit Explorer has IRS digitized Form 990 data for filings processed in 2012 and later. If this organization filed an amended return, it may not be reflected below. Duplicate download links may indicate a resubmission or amendment to this organization's original return. Form 990 data is from the IRS.

Audits are required to be submitted by nonprofit organizations that spend $750,000 or more in federal grant money in a fiscal year. "Single audits" look at the entire organization's finances and compliance, while other audits are program specific. Nonprofit Explorer has PDFs of audits for some nonprofits for fiscal year 2015 and later. Audit data is from the Federal Audit Clearinghouse.

Fiscal Year Ending Dec.
2023

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$61,713,920
Expenses
$61,713,920
Net Income
$0
Net Assets
$54,322,892
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $60,546,684
98.1%
Investment Income -$2,382
Bond Proceeds $0
Royalties $0
Rental Property Income $25,224
0.0%
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $1,144,394
1.9%
Notable Expenses Percent of Total Expenses
Executive Compensation $308,451
0.5%
Professional Fundraising Fees $0
Other Salaries and Wages $2,655,521
4.3%
Assets/Debt
Total Assets $132,886,341
Total Liabilities $78,563,449
Net Assets $54,322,892
Club or Co-Op Income
Income From Members $56,279,797
Income From Other Sources $5,434,123
Compensation
Key Employees and Officers Compensation Related Other
Tobias Moss (President & Ceo) $201,221 $0 $67,311
Scott Lester (Vice President, Operations) $134,212 $0 $52,175
Chuck Bishop (Vice President, Engineerin) $134,209 $0 $51,354
Jennie Phelps (Vice President, Finance &) $124,804 $0 $34,510
Steve Morrison (Fepp Plant Manager) $117,133 $0 $58,191
William Prather (Former President & Ceo) $115,300 $0 $0
Corey Jackson (Vice President, Member & C) $114,922 $0 $34,434
Jason Riggs (Vice President, Technology) $113,498 $0 $43,494
Paul Hawkins (Director) $16,300 $0 $0
Ronnie Smith (Chairman) $16,300 $0 $0
Cornelius Faulkner (Director) $16,000 $0 $0
Brandi Williams (Secretary Treasurer) $16,000 $0 $0
Randy London (Vice Chairman) $15,700 $0 $0
Randy Sexton (Director) $13,600 $0 $0
Cf Martin Jr (Director) $13,330 $0 $0
+ View more people

Document Links

990
Filed on May 7, 2024

Primary tax return for a nonprofit’s activities, finances, and governance

View Filing
XML
Audits

Audit for a nonprofit that spends $750,000+ in federal grant money in a fiscal year

PDF

Fiscal Year Ending Dec.
2022

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$67,395,267
Expenses
$67,395,267
Net Income
$0
Net Assets
$54,375,403
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $65,454,721
97.1%
Investment Income $21,240
0.0%
Bond Proceeds $0
Royalties $0
Rental Property Income $24,924
0.0%
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $1,894,382
2.8%
Notable Expenses Percent of Total Expenses
Executive Compensation $340,517
0.5%
Professional Fundraising Fees $0
Other Salaries and Wages $2,437,203
3.6%
Assets/Debt
Total Assets $129,515,239
Total Liabilities $75,139,836
Net Assets $54,375,403
Club or Co-Op Income
Income From Members $60,864,735
Income From Other Sources $6,530,532
Compensation
Key Employees and Officers Compensation Related Other
William Prather (President & Ceo) $225,367 $0 $71,389
Scott Lester (Vice President, Operations) $123,952 $0 $53,873
Chuck Bishop (Vice President, Engineerin) $122,746 $0 $47,292
Steve Morrison (Fepp Plant Manager) $121,965 $0 $48,945
Jennie Phelps (Vice President, Finance &) $117,697 $0 $46,946
Corey Jackson (Vice President, Member & C) $107,878 $0 $26,284
Jason Riggs (Vice President, Technology & Security) $104,027 $0 $48,712
Paul Hawkins (Chairman) $20,200 $0 $0
Cornelius Faulkner (Director) $16,900 $0 $0
Randy London (Secretary) $16,600 $0 $0
Brandi Williams (Director) $16,600 $0 $0
Ronnie Smith (Vice Chairman) $15,700 $0 $0
Randy Sexton (Director) $14,800 $0 $0
Cf Martin Jr (Director) $14,350 $0 $0
+ View more people

Document Links

990
Filed on May 15, 2023

Primary tax return for a nonprofit’s activities, finances, and governance

View Filing
XML

Fiscal Year Ending Dec.
2021

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$57,120,734
Expenses
$57,120,734
Net Income
$0
Net Assets
$52,483,179
Notable Sources of Revenue Percent of Total Revenue
Contributions $1,096,768
1.9%
Program Services $55,422,158
97.0%
Investment Income -$22,166
Bond Proceeds $0
Royalties $0
Rental Property Income $24,624
0.0%
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $599,350
1.0%
Notable Expenses Percent of Total Expenses
Executive Compensation $319,330
0.6%
Professional Fundraising Fees $0
Other Salaries and Wages $2,314,904
4.1%
Assets/Debt
Total Assets $123,977,998
Total Liabilities $71,494,819
Net Assets $52,483,179
Club or Co-Op Income
Income From Members $51,643,921
Income From Other Sources $4,875,005
Compensation
Key Employees and Officers Compensation Related Other
William Prather (President & Ceo) $216,580 $0 $67,220
Tony Wells (Vice President, Member & C) $195,777 $0 $50,300
Scott Lester (Vice President, Operations) $119,355 $0 $50,760
Chuck Bishop (Vice President, Engineerin) $116,470 $0 $45,162
Jennie Phelps (Vice President, Finance &) $113,065 $0 $44,023
Steve Morrison (Fepp Plant Manager) $110,867 $0 $52,611
Paul Hawkins (Chairman) $17,050 $0 $0
Brandi Williams (Director) $16,900 $0 $0
Cornelius Faulkner (Director) $14,250 $0 $0
Randy London (Secretary) $13,900 $0 $0
Randy Sexton (Director) $13,900 $0 $0
Ronnie Smith (Vice Chairman) $13,450 $0 $0
Cf Martin Jr (Director) $13,300 $0 $0
+ View more people

Document Links

990
Filed on May 10, 2022

Primary tax return for a nonprofit’s activities, finances, and governance

View Filing
XML

Fiscal Year Ending Dec.
2020

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$50,087,988
Expenses
$50,087,988
Net Income
$0
Net Assets
$50,214,710
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $48,490,479
96.8%
Investment Income $12,686
0.0%
Bond Proceeds $0
Royalties $0
Rental Property Income $23,964
0.0%
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $1,560,859
3.1%
Notable Expenses Percent of Total Expenses
Executive Compensation $310,889
0.6%
Professional Fundraising Fees $0
Other Salaries and Wages $2,305,603
4.6%
Assets/Debt
Total Assets $119,856,022
Total Liabilities $69,641,312
Net Assets $50,214,710
Club or Co-Op Income
Income From Members $48,491,092
Income From Other Sources $1,596,896
Compensation
Key Employees and Officers Compensation Related Other
William Prather (President & Ceo) $214,239 $0 $63,354
Scott Lester (Vice President, Operations) $119,660 $0 $47,276
Tony Wells (Vice President, Member & C) $118,026 $0 $48,691
Chuck Bishop (Vice President, Engineerin) $116,041 $0 $43,071
Jennie Phelps (Vice President, Finance &) $112,914 $0 $41,739
Steve Morrison (Fepp Plant Manager) $105,292 $0 $27,199
Brandi Williams (Director) $15,100 $0 $0
Paul Hawkins (Chairman) $14,650 $0 $0
Ronnie Smith (Vice Chairman) $14,500 $0 $0
Randy London (Secretary) $13,900 $0 $0
Randy Sexton (Director) $13,900 $0 $0
Cf Martin Jr (Director) $13,450 $0 $0
Neil Pendygraft (Director) $11,150 $0 $0
+ View more people

Document Links

990
Filed on May 7, 2021

Primary tax return for a nonprofit’s activities, finances, and governance

View Filing
XML
Audits

Audit for a nonprofit that spends $750,000+ in federal grant money in a fiscal year

PDF

Fiscal Year Ending Dec.
2019

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$54,653,011
Expenses
$54,653,011
Net Income
$0
Net Assets
$48,234,392
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $52,281,411
95.7%
Investment Income $152,982
0.3%
Bond Proceeds $0
Royalties $0
Rental Property Income $18,624
0.0%
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $2,199,994
4.0%
Notable Expenses Percent of Total Expenses
Executive Compensation $299,958
0.5%
Professional Fundraising Fees $0
Other Salaries and Wages $2,248,036
4.1%
Assets/Debt
Total Assets $117,399,165
Total Liabilities $69,164,773
Net Assets $48,234,392
Club or Co-Op Income
Income From Members $52,281,411
Income From Other Sources $2,371,600
Compensation
Key Employees and Officers Compensation Related Other
William Prather (President & Ceo) $200,758 $0 $63,021
Scott Lester (Vice President, Operations) $111,732 $0 $46,472
Tony Wells (Vice President, Member & C) $110,272 $0 $45,589
Chuck Bishop (Vice President, Engineerin) $108,318 $0 $40,292
Jennie Phelps (Vice President, Finance &) $105,822 $0 $32,289
Steve Morrison (Fepp Plant Manager) $102,378 $0 $17,645
Paul Hawkins (Vice Chairman) $16,000 $0 $0
Randy Sexton (Director) $15,700 $0 $0
Ronnie Smith (Chairman) $15,700 $0 $0
Randy London (Secretary) $15,400 $0 $0
Cf Martin Jr (Director) $13,900 $0 $0
Neil Pendygraft (Director) $13,600 $0 $0
Freddie Button (Director) $6,600 $0 $0
Brandi Williams (Director) $2,300 $0 $0
+ View more people

Document Links

990
Filed on July 7, 2020

Primary tax return for a nonprofit’s activities, finances, and governance

View Filing
PDF XML

Fiscal Year Ending Dec.
2018

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$56,997,596
Expenses
$56,997,596
Net Income
$0
Net Assets
$45,957,452
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $54,860,820
96.3%
Investment Income $24,305
0.0%
Bond Proceeds $0
Royalties $0
Rental Property Income $18,624
0.0%
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $2,093,847
3.7%
Notable Expenses Percent of Total Expenses
Executive Compensation $304,362
0.5%
Professional Fundraising Fees $0
Other Salaries and Wages $2,051,155
3.6%
Assets/Debt
Total Assets $111,373,545
Total Liabilities $65,416,093
Net Assets $45,957,452
Club or Co-Op Income
Income From Members $51,906,785
Income From Other Sources $5,090,811
Compensation
Key Employees and Officers Compensation Related Other
William Prather (President & Ceo) $195,062 $0 $61,548
Scott Lester (Vice President, Operations) $108,259 $0 $47,156
Tony Wells (Vice President, Member & Corporate Services) $105,817 $0 $43,826
Chuck Bishop (Vice President, Engineering) $105,436 $0 $40,196
Jennie Phelps (Vice President, Finance & Accounting) $102,795 $0 $31,027
Randy Sexton (Vice Chairman) $17,500 $0 $0
Ronnie Smith (Chairman) $16,000 $0 $0
Freddie Button (Secretary) $15,400 $0 $0
Randy London (Director) $15,400 $0 $0
Cf Martin Jr (Director) $15,100 $0 $0
Neil Pendygraft (Director) $15,100 $0 $0
Paul Hawkins (Director) $14,800 $0 $0
+ View more people

Document Links

990
Filed on May 14, 2019

Primary tax return for a nonprofit’s activities, finances, and governance

View Filing
PDF XML

Fiscal Year Ending Dec.
2017

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$49,391,862
Expenses
$49,391,862
Net Income
$0
Net Assets
$42,960,855
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $47,813,494
96.8%
Investment Income $48,348
0.1%
Bond Proceeds $0
Royalties $0
Rental Property Income $17,072
0.0%
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $1,512,948
3.1%
Notable Expenses Percent of Total Expenses
Executive Compensation $493,946
1.0%
Professional Fundraising Fees $0
Other Salaries and Wages $1,799,173
3.6%
Assets/Debt
Total Assets $107,242,516
Total Liabilities $64,281,661
Net Assets $42,960,855
Club or Co-Op Income
Income From Members $47,813,494
Income From Other Sources $1,578,368

Document Links

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

Fiscal Year Ending Dec.
2016

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$52,344,236
Expenses
$52,344,236
Net Income
$0
Net Assets
$41,378,364
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $49,427,739
94.4%
Investment Income $46,759
0.1%
Bond Proceeds $0
Royalties $0
Rental Property Income $17,072
0.0%
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $2,852,666
5.4%
Notable Expenses Percent of Total Expenses
Executive Compensation $284,818
0.5%
Professional Fundraising Fees $0
Other Salaries and Wages $2,029,332
3.9%
Assets/Debt
Total Assets $103,172,726
Total Liabilities $61,794,362
Net Assets $41,378,364
Club or Co-Op Income
Income From Members $49,427,739
Income From Other Sources $2,916,497

Document Links

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

Fiscal Year Ending Dec.
2015

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$51,998,397
Expenses
$51,998,397
Net Income
$0
Net Assets
$38,626,203
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $49,230,649
94.7%
Investment Income $52,038
0.1%
Bond Proceeds $0
Royalties $0
Rental Property Income $13,140
0.0%
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $2,702,570
5.2%
Notable Expenses Percent of Total Expenses
Executive Compensation $279,485
0.5%
Professional Fundraising Fees $0
Other Salaries and Wages $2,138,869
4.1%
Assets/Debt
Total Assets $97,681,319
Total Liabilities $59,055,116
Net Assets $38,626,203
Club or Co-Op Income
Income From Members $49,230,649
Income From Other Sources $2,767,748

Document Links

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

Fiscal Year Ending Dec.
2014

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$56,193,208
Expenses
$56,193,208
Net Income
$0
Net Assets
$38,038,279
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $53,087,390
94.5%
Investment Income $61,661
0.1%
Bond Proceeds $0
Royalties $0
Rental Property Income $4,724
0.0%
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $3,039,433
5.4%
Notable Expenses Percent of Total Expenses
Executive Compensation $280,109
0.5%
Professional Fundraising Fees $0
Other Salaries and Wages $1,897,568
3.4%
Assets/Debt
Total Assets $93,894,140
Total Liabilities $55,855,861
Net Assets $38,038,279
Club or Co-Op Income
Income From Members $53,087,390
Income From Other Sources $3,105,818

Document Links

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

Fiscal Year Ending Dec.
2013

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$54,905,700
Expenses
$54,905,700
Net Income
$0
Net Assets
$34,373,530
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $51,338,369
93.5%
Investment Income $74,654
0.1%
Bond Proceeds $0
Royalties $0
Rental Property Income $4,800
0.0%
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $3,487,877
6.4%
Notable Expenses Percent of Total Expenses
Executive Compensation $264,329
0.5%
Professional Fundraising Fees $0
Other Salaries and Wages $1,934,998
3.5%
Assets/Debt
Total Assets $88,372,572
Total Liabilities $53,999,042
Net Assets $34,373,530
Club or Co-Op Income
Income From Members $51,338,369
Income From Other Sources $3,567,331

Document Links

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

Fiscal Year Ending Dec.
2012

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$50,062,988
Expenses
$47,827,741
Net Income
$2,235,247
Net Assets
$29,990,164
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $47,320,695
94.5%
Investment Income $158,335
0.3%
Bond Proceeds $0
Royalties $0
Rental Property Income $230,294
0.5%
Net Fundraising $0
Sales of Assets $52,077
0.1%
Net Inventory Sales $0
Other Revenue $2,301,587
4.6%
Notable Expenses Percent of Total Expenses
Executive Compensation $265,088
0.6%
Professional Fundraising Fees $0
Other Salaries and Wages $2,014,112
4.2%
Assets/Debt
Total Assets $79,090,334
Total Liabilities $49,100,170
Net Assets $29,990,164
Club or Co-Op Income
Income From Members $0
Income From Other Sources $0

Document Links

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

Fiscal Year Ending Dec.
2011

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$51,130,526
Expenses
$48,650,485
Net Income
$2,480,041
Net Assets
$27,608,460
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $48,178,370
94.2%
Investment Income $156,562
0.3%
Bond Proceeds $0
Royalties $0
Rental Property Income $222,479
0.4%
Net Fundraising $0
Sales of Assets $21,898
0.0%
Net Inventory Sales $0
Other Revenue $2,551,217
5.0%
Notable Expenses Percent of Total Expenses
Executive Compensation $266,712
0.5%
Professional Fundraising Fees $0
Other Salaries and Wages $2,039,785
4.2%
Assets/Debt
Total Assets $76,239,060
Total Liabilities $48,630,600
Net Assets $27,608,460
Club or Co-Op Income
Income From Members $48,400,849
Income From Other Sources $2,729,677

Document Links

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

Fiscal Year Ending Dec.
2010

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

Fiscal Year Ending Dec.
2009

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

Fiscal Year Ending Dec.
2008

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

Fiscal Year Ending Dec.
2007

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

About This Data

Nonprofit Explorer includes summary data for nonprofit tax returns and full Form 990 documents, in both PDF and digital formats.

The summary data contains information processed by the IRS during the 2012-2019 calendar years; this generally consists of filings for the 2011-2018 fiscal years, but may include older records. This data release includes only a subset of what can be found in the full Form 990s.

In addition to the raw summary data, we link to PDFs and digital copies of full Form 990 documents wherever possible. This consists of separate releases by the IRS of Form 990 documents processed by the agency, which we update regularly.

We also link to copies of audits nonprofit organizations that spent $750,000 or more in Federal grant money in a single fiscal year since 2016. These audits are copied from the Federal Audit Clearinghouse.

Which Organizations Are Here?

Every organization that has been recognized as tax exempt by the IRS has to file Form 990 every year, unless they make less than $200,000 in revenue and have less than $500,000 in assets, in which case they have to file form 990-EZ. Organizations making less than $50,000 don’t have to file either form but do have to let the IRS they’re still in business via a Form 990N "e-Postcard."

Nonprofit Explorer has organizations claiming tax exemption in each of the 27 subsections of the 501(c) section of the tax code, and which have filed a Form 990, Form 990EZ or Form 990PF. Taxable trusts and private foundations that are required to file a form 990PF are also included. Small organizations filing a Form 990N "e-Postcard" are not included in this data.

Types of Nonprofits

There are 27 nonprofit designations based on the numbered subsections of section 501(c) of the tax code. See the list »

Get the Data

For those interested in acquiring the original data from the source, here’s where our data comes from:

  • Raw filing data. Includes EINs and summary financials as structured data.
  • Exempt Organization profiles. Includes organization names, addresses, etc. You can merge this with the raw filing data using EIN numbers.
  • Form 990 documents. Prior to 2017, these documents were obtained and processed by Public.Resource.org and ProPublica. Bulk PDF downloads since 2017 are available from the IRS.
  • Form 990 documents as XML files. Includes complete filing data (financial details, names of officers, tax schedules, etc.) in machine-readable format. Only available for electronically filed documents. Electronic data released prior to October 2021 is also available through Amazon Web Services.
  • Audits. PDFs of single or program-specific audits for nonprofit organizations that spent $750,000 or more in Federal grant money in a single fiscal year. Available for fiscal year 2015 and later.

API

The data powering this website is available programmatically, via an API. Read the API documentation »

Byline

By Andrea Suozzo, Alec Glassford and Ash Ngu, ProPublica, and Brandon Roberts, Special to ProPublica.
Design by Jeff Frankl. Additional development by Ken Schwencke, Mike Tigas, and Sisi Wei.

E-file viewer adapted from IRS e-File Viewer by Ben Getson. Code for scraping audit documents adapated from Govwiki.

Updated