Delaware County Electric Cooperative Inc
- Assets
- $29.9m
- Revenue
- $9.6m
- Investments
- $776.3k
- Employees
- 28
- Location
- Delhi, NY
- Founding
- 03/1946
- Data as of
- 12/2023
- EIN
- 15-0287092
Organization Overview
Delaware County Electric Cooperative Inc is located in Delhi, NY. The organization was established in 1946. According to its NTEE Classification (W80) the organization is classified as: Public Utilities, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2023, Delaware County Electric Cooperative Inc employed 28 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Delaware County Electric Cooperative Inc is a 501(c)(12) and as such, is described as a "Benevolent Life Insurance Association, Mutual Ditch or Irrigation Company, Mutual or Cooperative Telephone Company" by the IRS.
For the year ending 12/2023, Delaware County Electric Cooperative Inc generated $9.6m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.0% each year. All expenses for the organization totaled $9.7m during the year ending 12/2023. While expenses have increased by 2.4% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
DISTRIBUTION OF ELECTRICITY TO MEMBERS IN RURAL AREAS OF DELAWARE COUNTY, NEW YORK ON A COOPERATIVE BASIS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDING ELECTRICITY TO MEMBERS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Edward Pick President | OfficerTrustee | 7 | $17,525 |
Jeffrey Russell Vice President | OfficerTrustee | 4 | $9,750 |
Laurie Wehmeyer Secretary | OfficerTrustee | 5 | $13,125 |
Stephen Oles Director | Trustee | 3 | $7,000 |
Edward Furgol Treasurer | OfficerTrustee | 3.5 | $8,525 |
Patrick O'brien Director | Trustee | 2.5 | $2,100 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Allen Briteway Electrical Contracting | 12/30/21 | $337,434 |
Asplundh Tree Expert Co Right-of-way Maintenance | 12/30/21 | $260,536 |
Tom Howard Construction General Contracting | 12/30/21 | $254,942 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $9,535,374 |
| Investment income | $49,192 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,633,848 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $316,208 |
| Compensation of current officers, directors, key employees. | $562,530 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $419,471 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,159,078 |
| Insurance | $0 |
| All other expenses | $382,289 |
| Total functional expenses | $9,716,803 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $400 |
| Savings and temporary cash investments | $211,318 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,180,023 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,060,113 |
| Prepaid expenses and deferred charges | $160,658 |
| Net Land, buildings, and equipment | $25,477,243 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $776,305 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,037,277 |
| Total assets | $29,903,337 |
| Accounts payable and accrued expenses | $816,753 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $13,234,454 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $4,459,129 |
| Total liabilities | $18,510,336 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $64,365 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $11,328,636 |
| Total liabilities and net assets/fund balances | $29,903,337 |