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Adams Electric Cooperative

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
$26.6M (2022)

Expenses
$26.6M (2022)

Total Assets
$65.4M (2022)

Total Liabilities
$37.7M (2022)

Source: Form 990 tax filings from 2011 to 2022

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.
2022

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$26,550,065
Expenses
$26,550,065
Net Income
$0
Net Assets
$27,712,869
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $26,505,647
99.8%
Investment Income $44,418
0.2%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $427,802
1.6%
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $65,386,496
Total Liabilities $37,673,627
Net Assets $27,712,869
Club or Co-Op Income
Income From Members $26,052,068
Income From Other Sources $497,997
Compensation
Key Employees and Officers Compensation Related Other
James Thompson (General Manager) $233,312 $0 $86,689
Steven Jennings (Manager Of Finance) $124,105 $0 $74,047
Tim Brecht (Mgr Eng & Ops) $116,499 $0 $79,944
Austin Aschemann (Lineman) $115,179 $0 $27,695
Logan Schutte (Lineman) $114,942 $0 $23,535
Nathan Smith (Line Foreman) $114,350 $0 $20,878
Chad Reische (Line Foreman) $110,759 $0 $43,789
Thomas Travis (Treasurer) $4,200 $0 $0
Laura Meyer (Vice President) $3,600 $0 $0
Rebecca Barlow (President) $3,400 $0 $0
Kristina Farwell (Secretary) $3,200 $0 $0
Eric Ewing (Director) $3,200 $0 $0
Rex Niekamp (Director) $2,850 $0 $0
Brent Clair (Director) $2,400 $0 $0
Glen Koch (Director) $2,400 $0 $0
James Ward (Director) $2,400 $0 $0

Document Links

Fiscal Year Ending Dec.
2021

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$24,960,832
Expenses
$24,960,832
Net Income
$0
Net Assets
$26,132,918
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $24,922,785
99.8%
Investment Income $38,047
0.2%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $491,111
2.0%
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $61,998,273
Total Liabilities $35,865,355
Net Assets $26,132,918
Club or Co-Op Income
Income From Members $24,538,065
Income From Other Sources $422,767
Compensation
Key Employees and Officers Compensation Related Other
James Thompson (General Manager) $227,004 $0 $80,988
Steven Jennings (Manager Of Finance) $125,003 $0 $73,423
Duane Jones (Line Foreman) $115,560 $0 $43,576
Austin Aschemann (Lineman) $113,144 $0 $25,071
Tim Brecht (Mgr Eng & Ops) $109,310 $0 $75,955
Nathan Smith (Line Foreman) $107,126 $0 $26,602
Chad Reische (Line Foreman) $105,834 $0 $36,243
Kris Farwell (Secretary) $5,400 $0 $0
Tom Travis (Director) $4,800 $0 $0
Rebecca Barlow (President) $4,000 $0 $0
Brent Clair (Director) $3,800 $0 $0
Laura Meyer (Vice President) $3,400 $0 $0
Eric Ewing (Director) $3,250 $0 $0
Jim Ward (Director) $3,250 $0 $0
James Benz (Director) $1,800 $0 $0
Roger Busen (President) $1,600 $0 $0
Rex Niekamp (Director) $1,200 $0 $0
Glen Koch (Director) $1,050 $0 $0

Document Links

Fiscal Year Ending Dec.
2020

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$24,279,830
Expenses
$24,279,830
Net Income
$0
Net Assets
$24,743,304
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $24,221,987
99.8%
Investment Income $57,843
0.2%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $489,157
2.0%
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $58,919,326
Total Liabilities $34,176,022
Net Assets $24,743,304
Club or Co-Op Income
Income From Members $23,830,044
Income From Other Sources $449,786
Other
Reported conflict of interest transactions
Compensation
Key Employees and Officers Compensation Related Other
James Thompson (General Manager) $218,951 $0 $65,012
Duane Jones (Line Foreman) $136,278 $0 $39,165
Chad Reische (Line Foreman) $134,804 $0 $30,462
Austin Aschemann (Lineman) $133,656 $0 $19,846
Nathan Smith (Line Foreman) $132,904 $0 $21,035
Gary Wagner (Lineman) $129,664 $0 $28,947
Steven Jennings (Manager Of Finance) $113,116 $0 $65,588
Tom Travis (Director) $4,254 $0 $0
Roger Busen (President) $3,654 $0 $0
Eric Ewing (Director) $3,000 $0 $0
Kris Farwell (Treasurer) $2,816 $0 $0
Brent Clair (Director) $2,804 $0 $0
Rebecca Barlow (Vice President) $2,654 $0 $0
Laura Meyer (Secretary) $2,654 $0 $0
Jim Ward (Director) $2,400 $0 $0
James Benz (Director) $2,254 $0 $0

Document Links

Fiscal Year Ending Dec.
2019

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$25,451,083
Expenses
$25,451,083
Net Income
$0
Net Assets
$23,350,740
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $25,381,938
99.7%
Investment Income $69,145
0.3%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $469,809
1.8%
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $58,009,563
Total Liabilities $34,658,823
Net Assets $23,350,740
Club or Co-Op Income
Income From Members $24,764,550
Income From Other Sources $617,388
Other
Reported conflict of interest transactions
Compensation
Key Employees and Officers Compensation Related Other
James Thompson (General Manager) $212,787 $0 $53,487
Steven Jennings (Manager Of Finance) $114,127 $0 $54,308
Charles Rossiter (Design & Const Supervisor) $105,993 $0 $75,024
Chad Reische (Line Foreman) $102,443 $0 $23,457
Timothy Brecht (Mgr Of Engineering) $102,189 $0 $60,342
Steven Fanning (Maintenance Supervisor) $100,797 $0 $55,732
Tom Travis (Director) $6,100 $0 $0
Kris Farwell (Treasurer) $5,000 $0 $0
Rebecca Barlow (Vice President) $4,200 $0 $0
Laura Meyer (Secretary) $3,600 $0 $0
James Benz (Director) $3,600 $0 $0
Jim Ward (Director) $3,150 $0 $0
Roger Busen (President) $2,800 $0 $0
Alan Acheson (Director) $2,600 $0 $0
Brent Clair (Director) $1,950 $0 $0
Lyle Waner (Director) $1,200 $0 $0
Eric Ewing (Director) $900 $0 $0

Document Links

Fiscal Year Ending Dec.
2018

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$24,756,557
Expenses
$24,756,557
Net Income
$0
Net Assets
$21,857,873
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $24,712,943
99.8%
Investment Income $43,614
0.2%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $470,638
1.9%
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $56,388,608
Total Liabilities $34,530,735
Net Assets $21,857,873
Club or Co-Op Income
Income From Members $23,777,434
Income From Other Sources $1,189,268
Compensation
Key Employees and Officers Compensation Related Other
James Thompson (General Manager) $210,861 $0 $60,647
Gary Wagner (Journeyman Lineman) $115,297 $0 $18,556
Steve Jennings (Manager Of Finance) $114,979 $0 $53,951
Mike Olson (Line Foreman) $113,686 $0 $42,990
Chad Reische (Line Foreman) $111,652 $0 $23,721
Duane Jones (Line Foreman) $106,643 $0 $33,035
Tim Brecht (Manager Of Eng & Oper) $106,125 $0 $57,402
Tom Travis (Director) $4,350 $0 $0
Rebecca Barlow (Vice President) $4,200 $0 $0
Kris Farwell (Treasurer) $4,000 $0 $0
Laura Meyer (Secretary) $3,800 $0 $0
Jim Benz (Director) $3,800 $0 $0
Alan Acheson (Director) $3,400 $0 $0
Roger Busen (President) $3,000 $0 $0
Lyle Waner (Director) $2,000 $0 $0
Jim Ward (Director) $1,650 $0 $0

Document Links

Fiscal Year Ending Dec.
2017

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$23,499,435
Expenses
$22,015,970
Net Income
$1,483,465
Net Assets
$21,101,922
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $23,454,867
99.8%
Investment Income $44,568
0.2%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $240,194
1.1%
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $55,079,271
Total Liabilities $33,977,349
Net Assets $21,101,922
Club or Co-Op Income
Income From Members $22,963,161
Income From Other Sources $536,274
Other
Reported conflict of interest transactions
Compensation
Key Employees and Officers Compensation Related Other
James Thompson (General Manager) $206,844 $0 $50,904
Steven Jennings (Mgt Of Finance) $112,863 $0 $34,374
Gary Wagner (Apprentice Lineman) $110,053 $0 $26,261
Michael Olson (Line Foreman) $108,377 $0 $40,334
Timothy Brecht (Mgr Of Engineering & Operations) $102,568 $0 $45,416
Duane Jones (Line Foreman) $100,907 $0 $40,334
Jim Benz (Director) $6,000 $0 $0
Laura Meyer (Director) $5,200 $0 $0
Rebecca Barlow (Secretary) $5,000 $0 $0
Alan Acheson (Director) $5,000 $0 $0
Kris Farwell (Treasurer) $4,400 $0 $0
Roger Busen (Vice President) $3,000 $0 $0
Lyle Waner (President) $2,800 $0 $0
Tom Travis (Director) $1,050 $0 $0
Jim Ward (Director) $900 $0 $0

Document Links

Fiscal Year Ending Dec.
2016

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$23,065,928
Expenses
$21,802,662
Net Income
$1,263,266
Net Assets
$19,616,717
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $23,020,411
99.8%
Investment Income $45,517
0.2%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $239,553
1.1%
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $53,850,298
Total Liabilities $34,233,581
Net Assets $19,616,717
Club or Co-Op Income
Income From Members $22,519,773
Income From Other Sources $515,555
Other
Reported conflict of interest transactions
Compensation
Key Employees and Officers Compensation Related Other
James Thompson (General Manager) $201,953 $0 $46,488
Robert Willis (Treasurer) $6,600 $0 $0
John Kestner (Director) $4,800 $0 $0
Kris Farwell (Director) $4,400 $0 $0
Laura Meyer (Director) $4,400 $0 $0
Rebecca Barlow (Secretary) $4,200 $0 $0
Alan Acheson (Director) $4,000 $0 $0
Jim Benz (Director) $3,400 $0 $0
Roger Busen (Vice President) $3,200 $0 $0
Lyle Waner (President) $2,600 $0 $0

Document Links

Fiscal Year Ending Dec.
2015

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$22,866,034
Expenses
$21,694,487
Net Income
$1,171,547
Net Assets
$18,351,776
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $22,820,476
99.8%
Investment Income $45,558
0.2%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $247,507
1.1%
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $53,115,401
Total Liabilities $34,763,625
Net Assets $18,351,776
Club or Co-Op Income
Income From Members $21,490,965
Income From Other Sources $1,375,069
Other
Reported conflict of interest transactions
Compensation
Key Employees and Officers Compensation Related Other
James Thompson (General Manager) $204,407 $0 $48,247
Rebecca Barlow (Secretary) $6,000 $0 $0
Robert Willis (Treasurer) $6,000 $0 $0
Alan Acheson (Director) $5,200 $0 $0
John Kestner (Director) $5,200 $0 $0
Kris Farwell (Director) $4,250 $0 $0
Roger Busen (Vice President) $4,200 $0 $0
Jim Benz (Director) $4,200 $0 $0
Laura Meyer (Director) $4,050 $0 $0
Lyle Waner (President) $4,000 $0 $0

Document Links

Fiscal Year Ending Dec.
2014

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$22,794,453
Expenses
$22,349,699
Net Income
$444,754
Net Assets
$17,178,544
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $22,919,365
> 100%
Investment Income $48,976
0.2%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets -$173,888
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $29,400
0.1%
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $52,191,543
Total Liabilities $35,012,999
Net Assets $17,178,544
Club or Co-Op Income
Income From Members $21,842,749
Income From Other Sources $1,135,878
Other
Reported conflict of interest transactions
Compensation
Key Employees and Officers Compensation Related Other
James Thompson (General Manager) $201,753 $0 $45,345
Robert Willis (Treasurer) $5,400 $0 $0
John Kestner (Director) $5,200 $0 $0
Alan Acheson (President) $4,400 $0 $0
Rebecca Barlow (Director) $4,400 $0 $0
Jim Benz (Director) $3,000 $0 $0
Roger Busen (Secretary) $2,600 $0 $0
Lyle Waner (Vice President) $2,000 $0 $0
Laura Meyer (Director) $1,650 $0 $0
Kris Farwell (Director) $750 $0 $0

Document Links

Fiscal Year Ending Dec.
2013

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$22,288,003
Expenses
$20,767,625
Net Income
$1,520,378
Net Assets
$16,732,140
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $22,217,612
99.7%
Investment Income $70,391
0.3%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $33,574
0.2%
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $52,221,337
Total Liabilities $35,489,197
Net Assets $16,732,140
Club or Co-Op Income
Income From Members $20,757,241
Income From Other Sources $1,530,762
Other
Reported conflict of interest transactions
Compensation
Key Employees and Officers Compensation Related Other
James Thompson (General Manager) $188,175 $0 $68,879
John Kestner (Director) $5,054 $0 $0
Alan Acheson (President) $4,329 $0 $0
Robert Willis (Treasurer) $3,950 $0 $0
Richard King (Director) $3,775 $0 $0
Rebecca Barlow (Director) $3,654 $0 $0
Roger Busen (Secretary) $3,479 $0 $0
George Schneider (Director) $3,029 $0 $0
Lyle Waner (Vice President) $2,700 $0 $0
Jim Benz (Director) $2,604 $0 $0
Laura Meyer (Director) $1,000 $0 $0

Document Links

Fiscal Year Ending Dec.
2012

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$20,741,445
Expenses
$20,621,479
Net Income
$119,966
Net Assets
$15,210,062
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $20,670,637
99.7%
Investment Income $70,808
0.3%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $43,575
0.2%
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $50,569,330
Total Liabilities $35,359,268
Net Assets $15,210,062
Club or Co-Op Income
Income From Members $19,875,342
Income From Other Sources $866,103

Document Links

Fiscal Year Ending Dec.
2011

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$20,615,848
Expenses
$20,615,848
Net Income
$0
Net Assets
$15,088,362
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $20,542,529
99.6%
Investment Income $73,319
0.4%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $43,500
0.2%
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $49,307,584
Total Liabilities $34,219,222
Net Assets $15,088,362
Club or Co-Op Income
Income From Members $19,769,803
Income From Other Sources $846,044

Document Links

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

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

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

Fiscal Year Ending Dec.
2005

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

Fiscal Year Ending Dec.
2004

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

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.

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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 »

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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.
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