Adams Electric Cooperative Inc

Gettysburg, PA
Tax-exempt since March 1942
EIN: 23-0329885

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Type of Nonprofit

Designated as a 501(c)(12) Benevolent life insurance associations, irrigation companies, telephone companies, etc., which have a mutually beneficial nature.

Donations to this organization are not tax deductible.

Revenue

$78.4M (2023)

Expenses

$79.6M (2023)

Total Assets

$244M (2023)

Total Liabilities

$143M (2023)

Source: Form 990 tax filings from 2011 to 2023

Tax Filings 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.

Fiscal Year Ending Dec.
2023

Revenue

$78,385,681

Expenses

$79,616,838

Net Income

-$1,231,157

Net Assets

$100,912,685

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$76,999,339	98.2%
Investment Income	$111,921	0.1%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$1,053,405	1.3%
Net Fundraising	$0
Sales of Assets	$33,691	0.0%
Net Inventory Sales	$0
Other Revenue	$187,325	0.2%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$1,103,084	1.4%
Professional Fundraising Fees	$0
Other Salaries and Wages	$8,574,795	10.8%

Assets/Debt
Total Assets	$244,017,697
Total Liabilities	$143,105,012
Net Assets	$100,912,685

Club or Co-Op Income
Income From Members	$75,903,063
Income From Other Sources	$1,345,379

Compensation

Key Employees and Officers	Compensation	Related	Other
Steven Rasmussen (Ceo / Gm)	$520,491	$14,500	$133,125
Chad Thoman (Mgr Eng/Elec)	$223,764	$0	$48,687
Mike Feathers (Manager Oper)	$218,898	$0	$125,268
Jeffery Turner (Mgr Eng/Mech)	$212,138	$0	$73,034
James Chiaruttini (Mgr Legal Se)	$211,222	$0	$62,430
Michael Johnson (Manager Safe)	$186,895	$0	$56,460
Gorman Guy (Line Superin)	$175,303	$0	$92,339
Dale E Myers (Secretary)	$25,413	$11,135	$0
Thomas J Knaub (Treasurer)	$24,975	$11,000	$0
Nadine M Hubner (Vice Preside)	$24,775	$0	$0
Ray Schwartz (Director)	$21,400	$0	$0
Jay Herman (Director)	$21,000	$0	$0
S Eugene Herritt (Director)	$19,975	$11,000	$0
Jay E Grove (Director)	$19,175	$1,333	$0
Glenn E Bange (President)	$17,090	$12,500	$10,710
David A Frey (Director)	$6,625	$0	$14,975

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990

Filed on Sept. 20, 2024

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Fiscal Year Ending Dec.
2022

Revenue

$72,052,590

Expenses

$75,140,826

Net Income

-$3,088,236

Net Assets

$94,836,088

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$70,484,622	97.8%
Investment Income	$101,086	0.1%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$1,015,737	1.4%
Net Fundraising	$0
Sales of Assets	$58,003	0.1%
Net Inventory Sales	$0
Other Revenue	$393,142	0.5%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$1,074,439	1.4%
Professional Fundraising Fees	$0
Other Salaries and Wages	$8,167,294	10.9%

Assets/Debt
Total Assets	$231,077,495
Total Liabilities	$136,241,407
Net Assets	$94,836,088

Club or Co-Op Income
Income From Members	$69,500,109
Income From Other Sources	$1,183,143

Compensation

Key Employees and Officers	Compensation	Related	Other
Steven Rasmussen (Ceo / Gm)	$511,763	$13,500	$146,600
Lynn Wallas (Consulting)	$221,164	$0	$22,266
James Chiaruttini (Mgr Legal Se)	$203,280	$9,900	$75,397
Kyle Smith (Mgr Info Tec)	$203,069	$0	$61,631
Mike Feathers (Manager Oper)	$202,321	$0	$163,835
Chad Thoman (Mgr Eng/Elec)	$201,303	$0	$77,554
Jeffery Turner (Mgr Eng/Mech)	$192,205	$0	$101,519
Michael Johnson (Manager Safe)	$162,225	$0	$58,288
Thomas J Knaub (Treasurer)	$22,850	$10,200	$200
Nadine M Hubner (Vice Preside)	$22,400	$0	$0
Jay E Grove (Director)	$20,325	$7,900	$0
Ray Schwartz (Director)	$19,450	$0	$0
Jay Herman (Director)	$18,838	$0	$0
S Eugene Herritt (Director)	$17,500	$10,200	$0
Glenn E Bange (President)	$17,198	$12,700	$11,252
Dale E Myers (Secretary)	$11,799	$2,300	$10,801
David A Frey (Director)	$5,950	$0	$17,000

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990

Filed on Oct. 27, 2023

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Fiscal Year Ending Dec.
2021

Revenue

$70,869,610

Expenses

$74,893,746

Net Income

-$4,024,136

Net Assets

$85,298,496

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$68,157,716	96.2%
Investment Income	$94,064	0.1%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$957,926	1.4%
Net Fundraising	$0
Sales of Assets	$64,174	0.1%
Net Inventory Sales	$0
Other Revenue	$1,595,730	2.3%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$1,173,314	1.6%
Professional Fundraising Fees	$0
Other Salaries and Wages	$8,325,775	11.1%

Assets/Debt
Total Assets	$218,291,432
Total Liabilities	$132,992,936
Net Assets	$85,298,496

Club or Co-Op Income
Income From Members	$67,501,211
Income From Other Sources	$849,731

Compensation

Key Employees and Officers	Compensation	Related	Other
Steven Rasmussen (Ceo / Gm)	$457,445	$12,500	$113,435
Lynn Wallas (Manager Fina)	$226,142	$0	$166,992
Mike Feathers (Manager Oper)	$204,332	$0	$161,866
Kyle Smith (Mgr Info Tec)	$201,244	$0	$57,664
Chad Thoman (Mgr Eng/Elec)	$193,921	$0	$68,800
Jeffery Turner (Mgr Eng/Mech)	$185,986	$0	$92,445
Michael Ward (Line Superin)	$162,563	$0	$117,895
Nadine M Hubner (Vice Preside)	$25,200	$0	$0
Thomas J Knaub (Treasurer)	$24,750	$9,700	$500
Jay E Grove (Secretary)	$22,800	$9,700	$0
Jay Herman (Director)	$21,500	$0	$0
Ray Schwartz (Director)	$19,350	$0	$0
S Eugene Herritt (Director)	$19,300	$9,200	$0
David A Frey (Director)	$19,300	$0	$4,000
Glenn E Bange (President)	$10,350	$11,700	$19,500
Dale Myers (Director)	$3,250	$0	$19,500

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990

Filed on Oct. 6, 2022

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Fiscal Year Ending Dec.
2020

Revenue

$68,157,465

Expenses

$70,955,366

Net Income

-$2,797,901

Net Assets

$73,641,754

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$66,887,649	98.1%
Investment Income	$111,691	0.2%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$932,112	1.4%
Net Fundraising	$0
Sales of Assets	$81,176	0.1%
Net Inventory Sales	$0
Other Revenue	$144,837	0.2%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$1,110,121	1.6%
Professional Fundraising Fees	$0
Other Salaries and Wages	$8,033,803	11.3%

Assets/Debt
Total Assets	$206,362,808
Total Liabilities	$132,721,054
Net Assets	$73,641,754

Club or Co-Op Income
Income From Members	$66,350,081
Income From Other Sources	$773,037

Compensation

Key Employees and Officers	Compensation	Related	Other
Steven Rasmussen (Ceo / Gm)	$460,966	$11,428	$117,895
Lynn Wallas (Manager Fina)	$224,670	$0	$144,365
Mike Feathers (Manager Oper)	$195,434	$0	$127,877
James Chiaruttini (Legal/Corp M)	$183,634	$11,567	$58,654
Jeffery Turner (Mgr Eng/Mech)	$170,377	$0	$72,392
Lisa Willet (Manager Hr)	$167,387	$0	$77,755
George Taughinbaugh (Facilities M)	$167,295	$0	$75,974
Nadine M Hubner (Vice Preside)	$21,100	$0	$0
Thomas J Knaub (Treasurer)	$19,950	$10,097	$0
Jay E Grove (Secretary)	$18,850	$9,925	$0
Jay Herman (Director)	$18,450	$0	$0
Ray Schwartz (Director)	$17,650	$0	$0
S Eugene Herritt (Director)	$17,050	$10,652	$0
Dale Myers (Director)	$9,219	$0	$9,181
Daniel E Eisenhart (Former Secre)	$7,575	$0	$0
Glenn E Bange (President)	$5,450	$11,334	$17,750

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990

Filed on Oct. 7, 2021

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Fiscal Year Ending Dec.
2019

Revenue

$69,108,645

Expenses

$69,303,949

Net Income

-$195,304

Net Assets

$67,424,764

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$67,907,473	98.3%
Investment Income	$139,155	0.2%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$861,358	1.2%
Net Fundraising	$0
Sales of Assets	-$19,901
Net Inventory Sales	$0
Other Revenue	$220,560	0.3%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$1,044,043	1.5%
Professional Fundraising Fees	$0
Other Salaries and Wages	$7,681,521	11.1%

Assets/Debt
Total Assets	$196,165,383
Total Liabilities	$128,740,619
Net Assets	$67,424,764

Club or Co-Op Income
Income From Members	$67,289,973
Income From Other Sources	$1,124,748

Compensation

Key Employees and Officers	Compensation	Related	Other
Steven Rasmussen (Ceo / Gm)	$403,036	$11,700	$94,914
Lynn Wallas (Mgr. Finance)	$209,396	$0	$122,222
George Taughinbaugh (Facilities M)	$208,872	$0	$104,812
Mike Feathers (Manager Oper)	$167,352	$0	$91,225
James Chiaruttini (Legal/Corp M)	$166,819	$11,300	$42,846
Kyle Smith (It Manager)	$162,753	$0	$26,776
Richard Redding (Coordinator)	$157,571	$0	$66,524
Thomas J Knaub (Treasurer)	$25,510	$8,900	$0
Nadine Hubner (Vice Preside)	$25,440	$0	$0
Daniel Eisenhart (Secretary)	$25,195	$0	$0
Jay E Grove (Director)	$25,130	$8,900	$0
Ray Schwartz (Director)	$24,760	$0	$0
S Eugene Herritt (Director)	$20,135	$11,700	$0
Jay Herman (Director)	$12,725	$0	$0
Glenn E Bange (President)	$9,540	$8,900	$19,000
Dale Myers (Director)	$8,155	$0	$18,885

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990

Filed on Nov. 16, 2020

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Fiscal Year Ending Dec.
2018

Revenue

$70,465,427

Expenses

$69,918,583

Net Income

$546,844

Net Assets

$62,630,479

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$68,694,551	97.5%
Investment Income	$124,331	0.2%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$838,549	1.2%
Net Fundraising	$0
Sales of Assets	$79,387	0.1%
Net Inventory Sales	$0
Other Revenue	$728,609	1.0%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$1,235,195	1.8%
Professional Fundraising Fees	$0
Other Salaries and Wages	$7,585,848	10.8%

Assets/Debt
Total Assets	$187,911,099
Total Liabilities	$125,280,620
Net Assets	$62,630,479

Club or Co-Op Income
Income From Members	$67,429,092
Income From Other Sources	$2,207,536

Compensation

Key Employees and Officers	Compensation	Related	Other
Steven Rasmussen (Ceo / Gm)	$386,864	$9,750	$80,722
James Siglin (Coo)	$209,220	$0	$24,027
Lynn Wallas (Mgr. Financ/)	$203,206	$0	$131,806
Mike Feathers (Superintende)	$164,920	$0	$85,760
Richard Redding (Coordinator)	$152,928	$0	$67,064
Duane Kanagy (Manager)	$150,332	$0	$82,711
George Taughinbaugh (Manager)	$147,579	$0	$63,918
Brian Shearer (Engineer)	$147,467	$0	$59,288
Nadine Hubner (Secretary)	$25,270	$0	$0
Ray Schwartz (Director)	$25,270	$0	$0
Jay E Grove (President)	$24,445	$8,150	$0
Thomas J Knaub (Treasurer)	$24,395	$8,150	$0
Daniel Eisenhart (Director)	$23,695	$0	$0
S Eugene Herritt (Director)	$19,950	$9,750	$0
Thomas R Harbaugh (Director)	$17,230	$0	$0
William E Myers (Director)	$3,830	$0	$0
Glenn E Bange (Vice Preside)	$3,495	$8,150	$18,500
Dale Myers (Director)	$2,630	$0	$10,640

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990

Filed on Nov. 13, 2019

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Fiscal Year Ending Dec.
2017

Revenue

$64,850,387

Expenses

$65,294,559

Net Income

-$444,172

Net Assets

$57,554,175

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$62,460,053	96.3%
Investment Income	$181,098	0.3%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$843,953	1.3%
Net Fundraising	$0
Sales of Assets	-$43,923
Net Inventory Sales	$0
Other Revenue	$1,409,206	2.2%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$1,395,259	2.1%
Professional Fundraising Fees	$0
Other Salaries and Wages	$7,604,233	11.6%

Assets/Debt
Total Assets	$178,663,047
Total Liabilities	$121,108,872
Net Assets	$57,554,175

Club or Co-Op Income
Income From Members	$62,460,053
Income From Other Sources	$1,619,126

Compensation

Key Employees and Officers	Compensation	Related	Other
Steven Rasmussen (Ceo / Gm)	$360,030	$9,125	$90,227
James Siglin (Coo)	$257,182	$0	$187,796
Lynn Wallas (Mgr. Financ/)	$193,754	$0	$128,196
Richard Redding (Coordinator)	$151,148	$0	$60,412
Mike Feathers (Superintende)	$150,581	$0	$82,010
George Taughinbaugh (Manager)	$146,895	$0	$41,138
Duane Kanagy (Manager)	$146,793	$0	$79,890
Brian Shearer (Engineer)	$143,419	$0	$51,130
Nadine Hubner (Secretary)	$22,750	$0	$0
Jay E Grove (President)	$22,650	$7,525	$0
Ray Schwartz (Director)	$22,625	$0	$0
Thomas J Knaub (Treasurer)	$22,325	$7,525	$0
S Eugene Herritt (Director)	$19,775	$9,125	$0
Daniel Eisenhart (Director)	$19,475	$0	$0
Thomas R Harbaugh (Director)	$16,500	$0	$0
William E Myers (Director)	$11,225	$0	$0
Glenn E Bange (Vice Preside)	$2,750	$7,525	$18,000

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990

Filed on Nov. 15, 2018

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Fiscal Year Ending Dec.
2016

Revenue

$67,214,027

Expenses

$66,512,534

Net Income

$701,493

Net Assets

$55,619,664

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$64,293,964	95.7%
Investment Income	$207,184	0.3%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$821,710	1.2%
Net Fundraising	$0
Sales of Assets	$535,004	0.8%
Net Inventory Sales	$0
Other Revenue	$1,356,165	2.0%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$1,316,202	2.0%
Professional Fundraising Fees	$0
Other Salaries and Wages	$6,806,504	10.2%

Assets/Debt
Total Assets	$169,591,198
Total Liabilities	$113,971,534
Net Assets	$55,619,664

Club or Co-Op Income
Income From Members	$64,293,964
Income From Other Sources	$2,398,313

Reported conflict of interest transactions

Compensation

Key Employees and Officers	Compensation	Related	Other
Steven Rasmussen (Ceo / Gm)	$352,937	$9,000	$86,012
Scott Wehler (Vp Engineering)	$225,889	$0	$171,314
Lynn Wallas (Mgr. Financ/Mem)	$183,295	$0	$120,380
Marvin Snyder (Mgr. Operations)	$173,656	$0	$52,395
Richard Redding (Superintendent)	$143,289	$0	$49,354
George Taughinbaugh (Manager Energy Use)	$141,005	$0	$99,734
Mike Ward (Superintendant)	$136,765	$0	$66,416
Brian Shearer (Engineer)	$135,043	$0	$44,201
Jay E Grove (President)	$21,800	$7,125	$0
Ray Schwartz (Director)	$20,650	$0	$0
Thomas J Knaub (Treasurer)	$20,575	$7,125	$0
Nadine Hubner (Secretary)	$20,575	$0	$0
Daniel Eisenhart (Director)	$20,500	$0	$0
Thomas R Harbaugh (Director)	$19,975	$0	$0
Glenn E Bange (Vice President)	$19,300	$7,125	$0
S Eugene Herritt (Director)	$18,275	$9,000	$0
William E Myers (Director)	$14,725	$0	$0

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990

Filed on Nov. 13, 2017

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Fiscal Year Ending Dec.
2015

Revenue

$65,299,466

Expenses

$64,624,197

Net Income

$675,269

Net Assets

$51,653,939

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$62,473,289	95.7%
Investment Income	$164,093	0.3%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$817,077	1.3%
Net Fundraising	$0
Sales of Assets	$7,063	0.0%
Net Inventory Sales	$0
Other Revenue	$1,837,944	2.8%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$1,205,580	1.9%
Professional Fundraising Fees	$0
Other Salaries and Wages	$6,537,364	10.1%

Assets/Debt
Total Assets	$155,619,424
Total Liabilities	$103,965,485
Net Assets	$51,653,939

Club or Co-Op Income
Income From Members	$62,473,289
Income From Other Sources	$1,974,963

Reported conflict of interest transactions

Compensation

Key Employees and Officers	Compensation	Related	Other
Steven Rasmussen (Ceo / Gm)	$343,661	$8,075	$75,150
Scott Wehler (Vp Engineering)	$225,439	$0	$131,383
Lynn Wallas (Mgr. Admin/Mem)	$189,799	$0	$107,098
Marvin Snyder (Mgr. Operations)	$178,604	$0	$44,642
George Taughinbaugh (Manager Energy Use)	$153,653	$0	$93,366
Richard Redding (Superintendent)	$152,462	$0	$37,608
Gerald Bolton (Superintendant)	$147,043	$0	$48,023
Duane Kanagy (Manager Communicat)	$145,954	$0	$73,278
Jay E Grove (President)	$18,550	$5,975	$0
Thomas R Harbaugh (Secretary)	$16,625	$0	$0
Thomas J Knaub (Treasurer)	$16,425	$5,975	$0
Ray Schwartz (Director)	$15,175	$0	$0
Nadine Hubner (Director)	$14,975	$0	$0
Daniel Eisenhart (Director)	$14,475	$0	$0
S Eugene Herritt (Director)	$13,650	$8,075	$0
Glenn E Bange (Vice President)	$12,950	$5,975	$0
William E Myers (Director)	$10,225	$0	$0

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990

Filed on Nov. 3, 2016

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Fiscal Year Ending Dec.
2014

Revenue

$63,922,636

Expenses

$64,062,131

Net Income

-$139,495

Net Assets

$48,202,597

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$61,247,099	95.8%
Investment Income	$126,742	0.2%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$796,930	1.2%
Net Fundraising	$0
Sales of Assets	$29,520	0.0%
Net Inventory Sales	$0
Other Revenue	$1,722,345	2.7%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$1,130,324	1.8%
Professional Fundraising Fees	$0
Other Salaries and Wages	$6,868,390	10.7%

Assets/Debt
Total Assets	$145,092,295
Total Liabilities	$96,889,698
Net Assets	$48,202,597

Club or Co-Op Income
Income From Members	$61,247,099
Income From Other Sources	$1,892,012

Reported conflict of interest transactions

Compensation

Key Employees and Officers	Compensation	Related	Other
Steven Rasmussen (Ceo / Gm)	$327,050	$6,800	$52,212
Scott Wehler (Vp Engineering)	$245,091	$0	$113,516
Lynn Wallas (Mgr. Admin/Mem)	$184,706	$0	$79,774
Marvin Snyder (Mgr. Operations)	$156,316	$0	$38,534
Dawn Bodenberg (Manager Human Reso)	$155,688	$0	$102,942
Richard Redding (Superintendent)	$153,360	$0	$31,862
George Taughinbaugh (Manager Energy Use)	$153,118	$0	$78,503
Michael Ward (Superintendant)	$145,279	$0	$38,152
Jay E Grove (President)	$16,925	$4,950	$0
Nadine Hubner (Director)	$15,675	$0	$0
Thomas R Harbaugh (Secretary)	$14,800	$0	$0
Thomas J Knaub (Treasurer)	$14,700	$5,500	$0
Daniel Eisenhart (Director)	$14,025	$0	$0
Glenn E Bange (Vice President)	$13,700	$5,500	$0
Ray Schwartz (Director)	$13,300	$0	$0
S Eugene Herritt (Director)	$12,725	$6,800	$0
William E Myers (Director)	$12,125	$0	$0

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990

Filed on Nov. 10, 2015

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Fiscal Year Ending Dec.
2013

Revenue

$62,971,840

Expenses

$62,275,780

Net Income

$696,060

Net Assets

$46,973,207

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$60,249,530	95.7%
Investment Income	$225,006	0.4%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$778,916	1.2%
Net Fundraising	$0
Sales of Assets	$9,028	0.0%
Net Inventory Sales	$0
Other Revenue	$1,709,360	2.7%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$1,314,480	2.1%
Professional Fundraising Fees	$0
Other Salaries and Wages	$6,311,252	10.1%

Assets/Debt
Total Assets	$141,956,322
Total Liabilities	$94,983,115
Net Assets	$46,973,207

Club or Co-Op Income
Income From Members	$60,249,530
Income From Other Sources	$1,944,778

Reported conflict of interest transactions

Compensation

Key Employees and Officers	Compensation	Related	Other
Steven Rasmussen (Ceo / Gm)	$283,709	$6,825	$94,321
Scott Wehler (Vp Engineering)	$199,588	$0	$132,798
Joseph Cole (Vp Fin. & Corp.)	$158,062	$10,900	$68,130
Lynn Wallas (Mgr. Actg & It)	$155,888	$0	$104,484
Marvin Snyder (Superintendant)	$140,736	$0	$55,946
Dawn Bodenberg (Manager Human Reso)	$131,348	$0	$107,139
Richard Redding (Superintendent)	$130,923	$0	$63,625
Michael Ward (Superintendant)	$125,477	$0	$63,036
George Taughinbaugh (Manager Energy Use)	$124,320	$0	$105,184
Jay E Grove (President)	$16,250	$5,025	$0
Thomas R Harbaugh (Secretary)	$14,450	$0	$0
Thomas J Knaub (Treasurer)	$14,050	$5,025	$0
Daniel Eisenhart (Director)	$13,575	$0	$0
Ray Schwartz (Director)	$13,325	$0	$0
S Eugene Herritt (Director)	$11,525	$6,825	$0
Glenn E Bange (Vice President)	$11,350	$5,025	$0
William E Myers (Director)	$10,525	$0	$0
Judith Queitzsch (Director)	$6,875	$0	$0
Nadine Hubner (Director)	$5,575	$0	$0

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990

Filed on Oct. 31, 2014

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

View Filing

Schedules ▼

PDF XML

Fiscal Year Ending Dec.
2012

Revenue

$57,737,773

Expenses

$57,458,494

Net Income

$279,279

Net Assets

$44,883,128

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$55,740,147	96.5%
Investment Income	$216,108	0.4%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$768,975	1.3%
Net Fundraising	$0
Sales of Assets	$10,106	0.0%
Net Inventory Sales	$0
Other Revenue	$1,002,437	1.7%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$1,254,232	2.2%
Professional Fundraising Fees	$0
Other Salaries and Wages	$6,400,508	11.1%

Assets/Debt
Total Assets	$132,506,503
Total Liabilities	$87,623,375
Net Assets	$44,883,128

Club or Co-Op Income
Income From Members	$55,740,147
Income From Other Sources	$1,296,498

990

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

PDF

Fiscal Year Ending Dec.
2011

Revenue

$56,700,291

Expenses

$58,382,889

Net Income

-$1,682,598

Net Assets

$42,887,985

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$54,913,837	96.8%
Investment Income	$248,963	0.4%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$723,381	1.3%
Net Fundraising	$0
Sales of Assets	$50,239	0.1%
Net Inventory Sales	$0
Other Revenue	$763,871	1.3%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$1,182,015	2.0%
Professional Fundraising Fees	$0
Other Salaries and Wages	$6,305,429	10.8%

Assets/Debt
Total Assets	$130,272,994
Total Liabilities	$87,385,009
Net Assets	$42,887,985

Club or Co-Op Income
Income From Members	$54,913,837
Income From Other Sources	$1,160,456

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 »

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 October 30, 2024

Adams Electric Cooperative Inc

Organization summary

Type of Nonprofit

Summary charts: organization finances over time

Revenue $78.4M (2023)

Expenses $79.6M (2023)

Total Assets $244M (2023)

Total Liabilities $143M (2023)

Tax Filings by Year

Fiscal Year Ending Dec. 2023

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending Dec. 2022

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

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990

Fiscal Year Ending Dec. 2021

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

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990

Fiscal Year Ending Dec. 2020

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

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990

Fiscal Year Ending Dec. 2019

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

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990

Fiscal Year Ending Dec. 2018

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

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990

Fiscal Year Ending Dec. 2017

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

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990

Fiscal Year Ending Dec. 2016

Extracted Financial Data

Extracted Financial Data from Form 990

Other

Compensation

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990

Fiscal Year Ending Dec. 2015

Extracted Financial Data

Extracted Financial Data from Form 990

Other

Compensation

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990

Fiscal Year Ending Dec. 2014

Extracted Financial Data

Extracted Financial Data from Form 990

Other

Compensation

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990

Fiscal Year Ending Dec. 2013

Extracted Financial Data

Extracted Financial Data from Form 990

Other

Compensation

Document Links

990

Fiscal Year Ending Dec. 2012

Revenue

$78.4M (2023)

Expenses

$79.6M (2023)

Total Assets

$244M (2023)

Total Liabilities

$143M (2023)

Fiscal Year Ending Dec.
2023

Fiscal Year Ending Dec.
2022

Fiscal Year Ending Dec.
2021

Fiscal Year Ending Dec.
2020

Fiscal Year Ending Dec.
2019

Fiscal Year Ending Dec.
2018

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2017

Fiscal Year Ending Dec.
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Fiscal Year Ending Dec.
2015

Fiscal Year Ending Dec.
2014

Fiscal Year Ending Dec.
2013

Fiscal Year Ending Dec.
2012

Fiscal Year Ending Dec.
2011

Fiscal Year Ending Dec.
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Fiscal Year Ending Dec.
2009

Fiscal Year Ending Dec.
2008

Fiscal Year Ending Dec.
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Fiscal Year Ending Dec.
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Fiscal Year Ending Dec.
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Fiscal Year Ending Dec.
2004