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Nonprofiteer
← DELAWARE COUNTY ELECTRIC COOPERATIVE INC

Form 990 for tax year 2023

Filed by DELAWARE COUNTY ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$9,633,848
Total expenses
$9,716,803
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$9,535,374
Investment income
$49,192
Other revenue
$49,282
Total assets, end of year
$29,903,337
Total liabilities, end of year
$18,510,336
Net assets or fund balances, end of year
$11,393,001
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
not reported

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 2a · Program service revenue: PROVIDE ELECTRICITY TO

    total $9,535,374 · related or exempt $9,535,374

  • 3 · Investment income

    total $49,192 · excluded $49,192

  • 11a · Other revenue: CAP CR. - ASSOC. ORGS

    total $36,166 · related or exempt $36,166

  • 11b · Other revenue: OTHER

    total $13,116 · related or exempt $13,116

  • 11e · Other revenue, total

    $49,282

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $316,208

  • 5 · Compensation of officers, directors and key employees

    total $562,530

  • 20 · Interest

    total $419,471

  • 22 · Depreciation, depletion and amortization

    total $1,159,078

  • 24a · Other expenses: DIST. EXPENSE - MAINTEN

    total $2,277,626

  • 24b · Other expenses: COST OF POWER

    total $2,139,379

  • 24c · Other expenses: DIST. EXPENSE - OPERATI

    total $1,602,942

  • 24d · Other expenses: ADMIN & GENERAL EXPENSE

    total $857,280

  • 24e · All other expenses

    total $382,289

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $600 · end of year $400

  • 2 · Savings and temporary cash investments

    beginning of year $254,438 · end of year $211,318

  • 4 · Accounts receivable

    beginning of year $1,117,096 · end of year $1,180,023

  • 8 · Inventories for sale or use

    beginning of year $941,952 · end of year $1,060,113

  • 9 · Prepaid expenses and deferred charges

    beginning of year $203,267 · end of year $160,658

  • 10a · Land, buildings and equipment: cost or other basis

    $40,923,741

  • 10b · Land, buildings and equipment: accumulated depreciation

    $15,446,498

  • 10c · Land, buildings and equipment, net

    beginning of year $25,562,986 · end of year $25,477,243

  • 12 · Investments: other securities

    beginning of year $1,427,018 · end of year $776,305

  • 15 · Other assets

    beginning of year $1,318,781 · end of year $1,037,277

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,222,946 · end of year $816,753

  • 23 · Secured mortgages and notes payable

    beginning of year $13,890,173 · end of year $13,234,454

  • 25 · Other liabilities

    beginning of year $4,389,827 · end of year $4,459,129

  • 29 · Capital stock, trust principal or current funds

    beginning of year $63,170 · end of year $64,365

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $11,260,022 · end of year $11,328,636

Mission and programs · 2023

Mission

THE AIM OF THE DELAWARE COUNTY ELECTRIC COOPERATIVE, INC. IS TO PROVIDE ELECTRIC ENERGY AND RELATED SERVICES TO ITS MEMBERS AT THE LOWEST COST, CONSISTENT WITH SOUND ECONOMY AND GOOD MANAGEMENT.

Activities or mission (Part I)

DISTRIBUTION OF ELECTRICITY TO MEMBERS IN RURAL AREAS OF DELAWARE COUNTY, NEW YORK ON A COOPERATIVE BASIS.

  • PROVIDING ELECTRICITY TO MEMBERS

As filed on the 2023 return.

Listed in Part VII

  • Edward Pick

    PRESIDENT

    Total calculated
    $17,525
    From this org
    $17,525
    From related orgs
    $0
    Other
    $0
    Hours/week
    7

  • Jeffrey Russell

    VICE PRESIDENT

    Total calculated
    $9,750
    From this org
    $9,750
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Laurie Wehmeyer

    SECRETARY

    Total calculated
    $13,125
    From this org
    $13,125
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Stephen Oles

    DIRECTOR

    Total calculated
    $7,000
    From this org
    $7,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Edward Furgol

    TREASURER

    Total calculated
    $8,525
    From this org
    $8,525
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.5

  • Patrick O'Brien

    DIRECTOR

    Total calculated
    $2,100
    From this org
    $2,100
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.5

  • David Krzyston

    DIRECTOR

    Total calculated
    $1,800
    From this org
    $1,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • John Gasstrom

    CEO/GM

    Total calculated
    $190,532
    From this org
    $156,586
    From related orgs
    $0
    Other
    $33,946
    Hours/week
    49.3

    Schedule J breakdown matched by us

    Base
    $151,155
    Bonus
    $0
    Other
    $5,431
    Deferred
    $23,802
    Nontaxable benefits
    $10,144
    Filer's total
    $190,532

  • Mark Cannizzaro

    CFO

    Total calculated
    $165,260
    From this org
    $127,996
    From related orgs
    $0
    Other
    $37,264
    Hours/week
    46.5

    Schedule J breakdown matched by us

    Base
    $127,607
    Bonus
    $0
    Other
    $389
    Deferred
    $13,754
    Nontaxable benefits
    $23,510
    Filer's total
    $165,260

  • Ryan Sullivan

    COO

    Total calculated
    $146,913
    From this org
    $112,786
    From related orgs
    $0
    Other
    $34,127
    Hours/week
    46

  • Michael Schafer

    JOURNEYMAN LINEMAN

    Total calculated
    $168,724
    From this org
    $124,006
    From related orgs
    $0
    Other
    $44,718
    Hours/week
    45.7

    Schedule J breakdown matched by us

    Base
    $123,809
    Bonus
    $0
    Other
    $197
    Deferred
    $21,009
    Nontaxable benefits
    $23,709
    Filer's total
    $168,724

  • Michael Pietrantoni

    WORKING SUPERINTENDENT

    Total calculated
    $192,408
    From this org
    $132,612
    From related orgs
    $0
    Other
    $59,796
    Hours/week
    46.8

    Schedule J breakdown matched by us

    Base
    $132,278
    Bonus
    $0
    Other
    $334
    Deferred
    $35,918
    Nontaxable benefits
    $23,878
    Filer's total
    $192,408

  • James Green

    JOURNEYMAN LINEMAN

    Total calculated
    $159,848
    From this org
    $118,100
    From related orgs
    $0
    Other
    $41,748
    Hours/week
    45.4

    Schedule J breakdown matched by us

    Base
    $117,841
    Bonus
    $0
    Other
    $259
    Deferred
    $26,609
    Nontaxable benefits
    $15,139
    Filer's total
    $159,848

  • David Schmidt

    JOURNEYMAN LINEMAN

    Total calculated
    $164,776
    From this org
    $116,302
    From related orgs
    $0
    Other
    $48,474
    Hours/week
    44.9

    Schedule J breakdown matched by us

    Base
    $116,019
    Bonus
    $0
    Other
    $283
    Deferred
    $33,335
    Nontaxable benefits
    $15,139
    Filer's total
    $164,776

  • Micah Scobie

    JOURNEYMAN LINEMAN

    Total calculated
    $131,783
    From this org
    $114,726
    From related orgs
    $0
    Other
    $17,057
    Hours/week
    44.5

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Form 990 of other organizations
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2023
Filed
12 November 2024
IRS schema version
2023v5.1
Source object
202443199349302694

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