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Nonprofit · EIN 73-0308955

KAY ELECTRIC COOPERATIVE INCORPORATE

Tax-exempt · BLACKWELL, OK 74631

Financials

$42M$41.8M2023$41.9M$41.8M2024
Revenue Expenses · by fiscal year end
Financials of KAY ELECTRIC COOPERATIVE INCORPORATE by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2024990$41,946,996$41,812,032$134,964$107,989,525$56,854,148$51,135,377
December 31, 2023990$41,987,679$41,826,222$161,457$103,269,470$54,331,915$48,937,555
Financial details: 990 for the year ended December 31, 2024

Revenue

Contributions, gifts and grants
$0
Program service revenue
$41,485,745
Investment income
$284,545
Net rental income
$14,520
Net gain from sales of assets
$33,641
Net income from sales of inventory
-$2,452
Other revenue
$176,706

Expenses

Grants and similar amounts paid
$16,347
Benefits paid to members
$3,222,715
Compensation of officers, directors and key employees
$1,120,455
Other salaries and wages
$1,878,013
Salaries, compensation and benefits (total)
$4,308,276
Professional fundraising fees
$0
Depreciation
$3,163,283

Balance sheet and other

Total assets, start of year
$103,269,470
Total assets, end of year
$107,989,525
Total liabilities, end of year
$56,854,148
Net assets, end of year
$51,135,377
Land, buildings and equipment
$76,523,370
Publicly traded securities
$5,468,003
Gross unrelated business income
$176,706
Gross receipts
$42,036,282
Employees
54
Volunteers
0
Year formed
1937
State of legal domicile
OK

From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.

Officers, directors and key employees

As listed on the 990 for the year ended December 31, 2024, highest compensation first.

NameTitleHours / weekCompensationOther / benefits
JASON BOESCHCHIEF EXECUTIVE OFFICER
Officer
50$239,103$185,821
DOUGLAS WORLEYDIRECTOR OF ENGINEERING
Key employee
44$170,020$79,611
DAVID CHILDERSDIRECTOR OF ACCOUNTING
Highest-paid employee
43$143,627$78,625
HEATH LAMBERTDIRECTOR OF OPERATIONS
Highest-paid employee
54$131,638$69,669
JAMES RIGDONLINE FOREMAN
Highest-paid employee
47$119,540$76,213
JOEL GARZAMANAGER OF STAKING
Highest-paid employee
43$119,967$55,253
TERRY GRACELINE FOREMAN
Highest-paid employee
42$125,744$34,370
JOSEPH SOULEKCHIEF OPERATING OFFICER
Officer
51$126,955$19,128
VERL BRORSENVICE PRESIDENT
Trustee or director, Officer
4.3$38,635$0
MAX HOHMANNPRESIDENT
Trustee or director, Officer
6.27$37,567$0
DR TIM BLANTONTRUSTEE
Trustee or director
6.31$36,019$0
BRADY HOSTETLERTRUSTEE
Trustee or director
4.09$35,832$0
JAKE OLSENTRUSTEE
Trustee or director
4.81$34,846$0
MICHAEL LEBEDATRUSTEE
Trustee or director
5$34,310$0
RON SHOFFNERSECRETARY/TREASURER
Trustee or director, Officer
2.89$33,744$0
2 more people on this return
NameTitleHours / weekCompensation
CHAD OTTOTRUSTEE
Trustee or director
4.75$33,213
BART CARDWELLTRUSTEE
Trustee or director
5.48$15,651
990 for the year ended December 31, 2023: 17 people
NameTitleHours / weekCompensationOther / benefits
JASON BOESCHCHIEF EXECUTIVE OFFICER
Officer
50$227,465$172,478
DOUGLAS WORLEYDIRECTOR OF ENGINEERING
Key employee
48$162,788$75,903
JOSEPH SOULEKCHIEF OPERATING OFFICER
Officer
51$161,506$76,756
DAVID CHILDERSDIRECTOR OF ACCOUNTING
Highest-paid employee
43$141,237$74,921
ROBIN POWELLBILLING MANAGER
Highest-paid employee
50$102,656$106,355
HEATH LAMBERTDIRECTOR OF OPERATIONS
Highest-paid employee
54$124,950$65,403
JAMES RIGDONLINE FOREMAN
Highest-paid employee
47$106,607$75,195
TERRY GRACELINE FOREMAN
Highest-paid employee
45$118,996$34,187
TIM BLANTONTRUSTEE
Trustee or director
6$36,247$0
VERL BRORSENVICE PRESIDENT
Trustee or director, Officer
4.3$35,381$0
MAX HOHMANNPRESIDENT
Trustee or director, Officer
5.7$33,735$0
BRADY HOSTETLERTRUSTEE
Trustee or director
4.1$33,695$0
JAKE OLSENTRUSTEE
Trustee or director
4.5$32,681$0
RON SHOFFNERSECRETARY/TREASURER
Trustee or director, Officer
3.2$32,657$0
CHAD OTTOTRUSTEE
Trustee or director
4.1$28,863$0
MICHAEL LEBEDATRUSTEE
Trustee or director
4.9$28,319$0
BART CARDWELLTRUSTEE
Trustee or director
4.5$26,502$0

Address and contacts

Address (IRS master file)
PO BOX 607, BLACKWELL, OK 74631-0607
Principal officer (990 for 2024)
JASON BOESCH, PO BOX 607, BLACKWELL, OK 746310607
Signed the 990
JASON BOESCH, GENERAL MANAGER/CEO
Phone
(580) 363-1260
Return prepared by
BOLINGER SEGARS GILBERT AND MOSS LLP

Mission

KAY ELECTRIC COOPERATIVE IS A RURAL ELECTRIC DISTRIBUTION COOPERATIVE ORGANIZED UNDER THE RURAL ELECTRIC COOPERATIVE ACT. OUR MISSION IS TO PROVIDE DEPENDABLE, AFFORDABLE, AND SAFE ELECTRICITY TO OUR MEMBER-OWNERS.

990 for the year ended December 31, 2024

Program accomplishments

  • SALE OF ELECTRIC POWER TO MEMBERS ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL. THERE WERE 5,892 ACTIVE SERVICES AT YEAR END.

What it must file and when

IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.

Tax yearYear endedDueIRS public records
2025December 31, 2025May 15, 2026Not on file
2024December 31, 2024May 15, 2025990 on file
2023December 31, 2023May 15, 2024990 on file

IRS record

EIN
73-0308955
Tax-exempt status
501(c)(12): Benevolent life insurance association or mutual company
Donations deductible
No
Exempt since
1941
Accounting year ends
December
Files
Form 990 or 990-EZ
Assets (IRS master file)
$107,989,525
Income (IRS master file)
$42,036,282

Filing history

FormYear endedRevenueExpensesAssetsReturn
990December 2024$41,946,996$41,812,032$107,989,525IRS
990December 2023$41,987,679$41,826,222$103,269,470XML
990December 2022$47,046,293$46,816,280$96,629,831IRS
990December 2021–––IRS
990December 2020–––IRS
990December 2018–––IRS
990December 2017–––IRS

990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 73-0308955).

Questions about KAY ELECTRIC COOPERATIVE INCORPORATE

What is the EIN of KAY ELECTRIC COOPERATIVE INCORPORATE?
The employer identification number (EIN) of KAY ELECTRIC COOPERATIVE INCORPORATE is 73-0308955.
Is KAY ELECTRIC COOPERATIVE INCORPORATE tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(12) since 1941.
Are donations to KAY ELECTRIC COOPERATIVE INCORPORATE tax-deductible?
No. The IRS master file says contributions to it are not deductible.
Which annual return does KAY ELECTRIC COOPERATIVE INCORPORATE file?
Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
When is the next return of KAY ELECTRIC COOPERATIVE INCORPORATE due?
The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
When did KAY ELECTRIC COOPERATIVE INCORPORATE last file with the IRS?
The latest return in the IRS public files is the 990 for the year ended December 2024.
Who is the principal officer of KAY ELECTRIC COOPERATIVE INCORPORATE?
The 990 for the year ended December 31, 2024 names JASON BOESCH.
Who are the officers and directors of KAY ELECTRIC COOPERATIVE INCORPORATE?
The 990 for the year ended December 31, 2024 lists 17 people; 17 received compensation from the organization, the highest $239,103 (JASON BOESCH, CHIEF EXECUTIVE OFFICER).
How much revenue does KAY ELECTRIC COOPERATIVE INCORPORATE have?
On its 990 for the year ended December 31, 2024 it reported revenue of $41,946,996, expenses of $41,812,032 and total assets of $107,989,525 at year end.

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