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Nonprofiteer
← DELAWARE COUNTY ELECTRIC COOPERATIVE INC

Form 990 for tax year 2022

Filed by DELAWARE COUNTY ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$10,106,533
Total expenses
$10,146,542
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$10,046,358
Investment income
$32,967
Other revenue
$27,208
Total assets, end of year
$30,826,138
Total liabilities, end of year
$19,502,946
Net assets or fund balances, end of year
$11,323,192
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 MEMBERS

    total $10,046,358 · related or exempt $10,046,358

  • 3 · Investment income

    total $32,967 · excluded $32,967

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

    total $24,846 · related or exempt $24,846

  • 11b · Other revenue: OTHER

    total $2,362 · related or exempt $2,362

  • 11e · Other revenue, total

    $27,208

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $407,812

  • 5 · Compensation of officers, directors and key employees

    total $393,748

  • 20 · Interest

    total $445,258

  • 22 · Depreciation, depletion and amortization

    total $1,131,381

  • 24a · Other expenses: COST OF POWER

    total $3,026,065

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

    total $2,111,908

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

    total $1,427,063

  • 24d · Other expenses: ADMIN & GENERAL EXPENSE

    total $888,001

  • 24e · All other expenses

    total $315,306

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $670 · end of year $600

  • 2 · Savings and temporary cash investments

    beginning of year $524,429 · end of year $254,438

  • 4 · Accounts receivable

    beginning of year $816,201 · end of year $1,117,096

  • 8 · Inventories for sale or use

    beginning of year $797,379 · end of year $941,952

  • 9 · Prepaid expenses and deferred charges

    beginning of year $220,215 · end of year $203,267

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

    $39,923,663

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

    $14,360,677

  • 10c · Land, buildings and equipment, net

    beginning of year $25,605,526 · end of year $25,562,986

  • 12 · Investments: other securities

    beginning of year $1,687,982 · end of year $1,427,018

  • 15 · Other assets

    beginning of year $1,508,271 · end of year $1,318,781

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,047,737 · end of year $1,222,946

  • 23 · Secured mortgages and notes payable

    beginning of year $14,736,741 · end of year $13,890,173

  • 25 · Other liabilities

    beginning of year $4,166,184 · end of year $4,389,827

  • 29 · Capital stock, trust principal or current funds

    beginning of year $61,940 · end of year $63,170

  • 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 $11,148,071 · end of year $11,260,022

Mission and programs · 2022

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 2022 return.

Listed in Part VII

  • Edward Pick

    PRESIDENT

    Total calculated
    $17,850
    From this org
    $17,850
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

  • Jeffrey Russell

    VICE PRESIDENT

    Total calculated
    $8,275
    From this org
    $8,275
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Laurie Wehmeyer

    SECRETARY

    Total calculated
    $8,925
    From this org
    $8,925
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Paul Menke

    TREASURER

    Total calculated
    $7,800
    From this org
    $7,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.5

  • Stephen Oles

    DIRECTOR

    Total calculated
    $7,900
    From this org
    $7,900
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Steve Burnett

    DIRECTOR

    Total calculated
    $5,900
    From this org
    $5,900
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Edward Furgol

    DIRECTOR

    Total calculated
    $1,500
    From this org
    $1,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Kimberly Tosi

    DIRECTOR (FORMER)

    Total calculated
    $3,600
    From this org
    $3,600
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Christopher Evans

    CEO/GM (FORMER)

    Total calculated
    $105,000
    From this org
    $90,364
    From related orgs
    $0
    Other
    $14,636
    Hours/week
    47

  • John Gasstrom

    CEO/GM

    Total calculated
    $64,327
    From this org
    $61,367
    From related orgs
    $0
    Other
    $2,960
    Hours/week
    46

  • Mark Cannizzaro

    CFO

    Total calculated
    $162,670
    From this org
    $128,556
    From related orgs
    $0
    Other
    $34,114
    Hours/week
    47

    Schedule J breakdown matched by us

    Base
    $124,962
    Bonus
    $3,000
    Other
    $594
    Deferred
    $12,475
    Nontaxable benefits
    $21,639
    Filer's total
    $162,670

  • Michael Schafer

    FIRST CLASS LINEMAN

    Total calculated
    $185,616
    From this org
    $124,947
    From related orgs
    $0
    Other
    $60,669
    Hours/week
    47

    Schedule J breakdown matched by us

    Base
    $123,418
    Bonus
    $1,000
    Other
    $529
    Deferred
    $38,877
    Nontaxable benefits
    $21,792
    Filer's total
    $185,616

  • Michael Pietrantoni

    LINE FOREMAN

    Total calculated
    $210,427
    From this org
    $133,090
    From related orgs
    $0
    Other
    $77,337
    Hours/week
    47

    Schedule J breakdown matched by us

    Base
    $131,563
    Bonus
    $1,000
    Other
    $527
    Deferred
    $54,982
    Nontaxable benefits
    $22,355
    Filer's total
    $210,427

  • Steven Little

    FIRST CLASS LINEMAN

    Total calculated
    $200,820
    From this org
    $116,740
    From related orgs
    $0
    Other
    $84,080
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $115,246
    Bonus
    $1,000
    Other
    $494
    Deferred
    $62,288
    Nontaxable benefits
    $21,792
    Filer's total
    $200,820

  • James Green

    FIRST CLASS LINEMAN

    Total calculated
    $179,035
    From this org
    $123,950
    From related orgs
    $0
    Other
    $55,085
    Hours/week
    46

    Schedule J breakdown matched by us

    Base
    $122,474
    Bonus
    $1,000
    Other
    $476
    Deferred
    $40,882
    Nontaxable benefits
    $14,203
    Filer's total
    $179,035

  • David Schmidt

    FIRST CLASS LINEMAN

    Total calculated
    $193,776
    From this org
    $119,560
    From related orgs
    $0
    Other
    $74,216
    Hours/week
    46

    Schedule J breakdown matched by us

    Base
    $118,072
    Bonus
    $1,000
    Other
    $488
    Deferred
    $60,013
    Nontaxable benefits
    $14,203
    Filer's total
    $193,776

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
2022
Filed
7 November 2023
IRS schema version
2022v5.0
Source object
202323129349302802

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