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Nonprofiteer
← CHOPTANK ELECTRIC CORP

Form 990 for tax year 2025

Filed by CHOPTANK ELECTRIC CORP.

Totals

Total revenue
$190,063,260
Total expenses
$182,717,542
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$187,877,801
Investment income
$1,616,851
Other revenue
$568,608
Total assets, end of year
$534,029,256
Total liabilities, end of year
$318,368,592
Net assets or fund balances, end of year
$215,660,664
Program services expenses (Part IX)
$0
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
not reported

Program services were 0.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

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: SALE AND DIST. OF ELECTR

    total $177,281,885 · related or exempt $177,281,885

  • 2b · Program service revenue: CONTRIB IN AID OF CONST

    total $10,119,978 · related or exempt $10,119,978

  • 2c · Program service revenue: PATRONAGE ALLOC RECEIVED

    total $475,938 · related or exempt $475,938

  • 3 · Investment income

    total $1,583,649 · unrelated business $1,482,081 · excluded $101,568

  • 6a · Gross rents

    real property $15,116 · personal property $63,836

  • 6c · Rental income or loss

    real property $15,116 · personal property $63,836

  • 6d · Net rental income or loss

    total $78,952 · related or exempt $15,116 · excluded $63,836

  • 7a · Gross sales of assets other than inventory

    other assets $33,202

  • 7c · Gain or loss

    other assets $33,202

  • 7d · Net gain or loss

    total $33,202 · excluded $33,202

  • 10a · Gross sales of inventory

    $203,037

  • 10b · Cost of goods sold

    $136,798

  • 10c · Net income from sales of inventory

    total $66,239 · related or exempt $5,932 · unrelated business $60,307

  • 11a · Other revenue: FIBER LEASE

    total $414,000 · unrelated business $414,000

  • 11b · Other revenue: NET REC SALES PROF (LOSS)

    total $9,417 · related or exempt $9,417

  • 11e · Other revenue, total

    $423,417

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $14,625,302

  • 5 · Compensation of officers, directors and key employees

    total $2,250,874

  • 7 · Other salaries and wages

    total $17,314,047

  • 8 · Pension plan contributions

    total $3,048,696

  • 9 · Other employee benefits

    total -$1,337,058

  • 10 · Payroll taxes

    total $1,332,631

  • 11b · Fees: legal

    total $49,693

  • 11d · Fees: lobbying

    total $189,547

  • 17 · Travel

    total $3,405,261

  • 19 · Conferences, conventions and meetings

    total $339,805

  • 20 · Interest

    total $13,268,194

  • 22 · Depreciation, depletion and amortization

    total $16,805,727

  • 24a · Other expenses: COST OF POWER

    total $101,856,537

  • 24b · Other expenses: DIST. MAINTENANCE

    total $7,180,100

  • 24c · Other expenses: TAXES

    total $4,635,064

  • 24d · Other expenses: GENERAL AND ADMIN

    total $2,719,400

  • 24e · All other expenses

    total -$4,966,278

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,069,922

  • 2 · Savings and temporary cash investments

    beginning of year $539,969 · end of year $2,461,601

  • 4 · Accounts receivable

    beginning of year $44,627,486 · end of year $52,604,829

  • 8 · Inventories for sale or use

    beginning of year $16,041,557 · end of year $13,974,715

  • 9 · Prepaid expenses and deferred charges

    beginning of year $33,427,324 · end of year $32,821,932

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

    $545,701,696

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

    $198,907,487

  • 10c · Land, buildings and equipment, net

    beginning of year $338,185,170 · end of year $346,794,209

  • 12 · Investments: other securities

    beginning of year $7,819,292 · end of year $8,495,837

  • 13 · Investments: program-related

    beginning of year $72,094,716 · end of year $76,344,686

  • 15 · Other assets

    beginning of year $373,391 · end of year $531,447

  • 17 · Accounts payable and accrued expenses

    beginning of year $28,176,235 · end of year $28,701,427

  • 23 · Secured mortgages and notes payable

    beginning of year $251,555,282 · end of year $256,362,050

  • 25 · Other liabilities

    beginning of year $29,656,182 · end of year $33,305,115

  • 31 · Retained earnings, endowment or other funds

    beginning of year $204,791,128 · end of year $215,660,664

Mission and programs · 2025

Mission

CEC EXISTS TO PROVIDE RELIABLE AND COST EFFECTIVE ELECTRICITY THAT IMPROVES THE QUALITY OF LIFE FOR OUR MEMBER-OWNERS. CEC IS COMMITTED TO SERVICE EXCELLENCE GUIDED BY THE SEVEN COOPERATIVE PRINCIPLES.

Activities or mission (Part I)

CHOPTANK ELECTRIC COOPERATIVE ("CEC") EXISTS TO PROVIDE RELIABLE AND COST EFFECTIVE ELECTRICITY THAT IMPROVES THE QUALITY OF LIFE FOR OUR MEMBER- OWNERS. CEC IS COMMITTED TO SERVICE EXCELLENCE GUIDED BY THE SEVEN COOPERATIVE PRINCIPLES.

  • CEC EXISTS TO PROVIDE RELIABLE AND COST EFFECTIVE ELECTRICITY THAT IMPROVES THE QUALITY OF LIFE FOR OUR MEMBER-OWNERS. CEC IS COMMITTED TO SERVICE EXCELLENCE GUIDED BY THE SEVEN COOPERATIVE PRINCIPLES. THE THREE LARGEST PROGRAM SERVICES, AS MEASURED BY EXPENSES, ARE AS FOLLOWS: COST OF POWER 101,856,537 OTHER SALARIES AND WAGES 17,314,047 DEPRECIATION 16,805,727

As filed on the 2025 return.

Listed in Part VII

  • Micheal E Malandro

    PRESIDENT &

    Total calculated
    $782,404
    From this org
    $479,496
    From related orgs
    $218,725
    Other
    $84,183
    Hours/week
    29 + 11 related

    Schedule J breakdown matched by us

    Base
    $479,496 + $161,034 related
    Bonus
    not reported + $57,691 related
    Other
    not reported
    Deferred
    $49,781 + $16,719 related
    Nontaxable benefits
    $13,237 + $4,446 related
    Filer's total
    $542,514 + $239,890 related

  • Timothy McGaha

    VP TECH SERV

    Total calculated
    $411,176
    From this org
    $116,984
    From related orgs
    $231,939
    Other
    $62,253
    Hours/week
    15 + 25 related

    Schedule J breakdown matched by us

    Base
    $96,984 + $156,339 related
    Bonus
    $20,000 + $75,600 related
    Other
    not reported
    Deferred
    $17,644 + $28,443 related
    Nontaxable benefits
    $6,189 + $9,977 related
    Filer's total
    $140,817 + $270,359 related

  • Leroy Sverduk

    VP ENGINEERI

    Total calculated
    $381,364
    From this org
    $155,151
    From related orgs
    $168,296
    Other
    $57,917
    Hours/week
    22 + 18 related

    Schedule J breakdown matched by us

    Base
    $145,151 + $111,596 related
    Bonus
    $10,000 + $56,700 related
    Other
    not reported
    Deferred
    $22,798 + $17,528 related
    Nontaxable benefits
    $9,945 + $7,646 related
    Filer's total
    $187,894 + $193,470 related

  • Lisa Desantis

    VP & CFO

    Total calculated
    $335,855
    From this org
    $153,074
    From related orgs
    $107,950
    Other
    $74,831
    Hours/week
    23 + 17 related

    Schedule J breakdown matched by us

    Base
    $143,074 + $107,950 related
    Bonus
    $10,000
    Other
    not reported
    Deferred
    $33,494 + $25,271 related
    Nontaxable benefits
    $9,157 + $6,909 related
    Filer's total
    $195,725 + $140,130 related

  • Paula J Bishop

    VP H.R.

    Total calculated
    $314,079
    From this org
    $242,359
    From related orgs
    $0
    Other
    $71,720
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $232,359
    Bonus
    $10,000
    Other
    not reported
    Deferred
    $54,129
    Nontaxable benefits
    $17,591
    Filer's total
    $314,079

  • Valerie Connelly

    VP GOV. AFFA

    Total calculated
    $294,612
    From this org
    $187,104
    From related orgs
    $68,219
    Other
    $39,289
    Hours/week
    27 + 13 related

    Schedule J breakdown matched by us

    Base
    $157,104 + $68,219 related
    Bonus
    $30,000
    Other
    not reported
    Deferred
    $23,612 + $10,253 related
    Nontaxable benefits
    $3,782 + $1,642 related
    Filer's total
    $214,498 + $80,114 related

  • Sarah M Dahl

    VP GENERAL C

    Total calculated
    $294,245
    From this org
    $172,385
    From related orgs
    $67,868
    Other
    $53,992
    Hours/week
    29 + 11 related

    Schedule J breakdown matched by us

    Base
    $162,385 + $67,868 related
    Bonus
    $10,000
    Other
    not reported
    Deferred
    $25,527 + $10,669 related
    Nontaxable benefits
    $12,551 + $5,245 related
    Filer's total
    $210,463 + $83,782 related

  • Lance Lockerman

    VP OPERATION

    Total calculated
    $271,942
    From this org
    $220,811
    From related orgs
    $1,310
    Other
    $49,821
    Hours/week
    27

    Schedule J breakdown matched by us

    Base
    $216,408 + $1,310 related
    Bonus
    $4,403
    Other
    not reported
    Deferred
    $37,071 + $224 related
    Nontaxable benefits
    $12,451 + $75 related
    Filer's total
    $270,333 + $1,609 related

  • Shawn Sparks

    MGR OPERATIO

    Total calculated
    $264,751
    From this org
    $172,494
    From related orgs
    $17,760
    Other
    $74,497
    Hours/week
    36 + 4 related

    Schedule J breakdown matched by us

    Base
    $172,494 + $17,760 related
    Bonus
    not reported
    Other
    not reported
    Deferred
    $51,488 + $5,301 related
    Nontaxable benefits
    $16,055 + $1,653 related
    Filer's total
    $240,037 + $24,714 related

  • Tiffany Trautman

    DIRECTOR OF

    Total calculated
    $255,768
    From this org
    $189,551
    From related orgs
    $19,556
    Other
    $46,661
    Hours/week
    36 + 4 related

    Schedule J breakdown matched by us

    Base
    $154,905 + $19,556 related
    Bonus
    $34,646
    Other
    not reported
    Deferred
    $27,858 + $3,517 related
    Nontaxable benefits
    $13,573 + $1,713 related
    Filer's total
    $230,982 + $24,786 related

  • Charles Gleaton Jr

    CHIEF ENGINE

    Total calculated
    $236,140
    From this org
    $175,374
    From related orgs
    $15,012
    Other
    $45,754
    Hours/week
    37 + 3 related

    Schedule J breakdown matched by us

    Base
    $175,374 + $15,012 related
    Bonus
    not reported
    Other
    not reported
    Deferred
    $25,965 + $2,223 related
    Nontaxable benefits
    $16,181 + $1,385 related
    Filer's total
    $217,520 + $18,620 related

  • Matthew Teffeau

    MGR. GOV'T A

    Total calculated
    $214,072
    From this org
    $185,934
    From related orgs
    $0
    Other
    $28,138
    Hours/week
    29

    Schedule J breakdown matched by us

    Base
    $100,717
    Bonus
    $85,217
    Other
    not reported
    Deferred
    $16,117
    Nontaxable benefits
    $12,021
    Filer's total
    $214,072

  • Nathan Schreppler

    CHIEF ENGINE

    Total calculated
    $203,811
    From this org
    $171,194
    From related orgs
    $0
    Other
    $32,617
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $171,194
    Bonus
    not reported
    Other
    not reported
    Deferred
    $27,293
    Nontaxable benefits
    $5,324
    Filer's total
    $203,811

  • Donna R West

    DIRECTOR

    Total calculated
    $45,100
    From this org
    $26,700
    From related orgs
    $18,400
    Other
    $0
    Hours/week
    9.53 + 1 related

  • John J Burke

    TREASURER

    Total calculated
    $39,100
    From this org
    $24,700
    From related orgs
    $14,400
    Other
    $0
    Hours/week
    6.63 + 1 related

  • Jeffrey D Rathell Sr

    DIRECTOR

    Total calculated
    $37,200
    From this org
    $21,800
    From related orgs
    $15,400
    Other
    $0
    Hours/week
    6.69 + 1 related

  • Craig N Mathies

    DIRECTOR

    Total calculated
    $34,600
    From this org
    $20,200
    From related orgs
    $14,400
    Other
    $0
    Hours/week
    3.92 + 1 related

  • Robert B Thompson

    DIRECTOR

    Total calculated
    $30,650
    From this org
    $16,250
    From related orgs
    $14,400
    Other
    $0
    Hours/week
    4.25 + 1 related

  • Douglas D Scott

    CHAIRMAN

    Total calculated
    $29,500
    From this org
    $15,100
    From related orgs
    $14,400
    Other
    $0
    Hours/week
    3.47 + 1 related

  • Robert E Arnold

    VICE CHAIRMA

    Total calculated
    $28,700
    From this org
    $13,300
    From related orgs
    $15,400
    Other
    $0
    Hours/week
    3.8 + 1 related

  • Kristen Nickerson

    DIRECTOR

    Total calculated
    $27,700
    From this org
    $13,300
    From related orgs
    $14,400
    Other
    $0
    Hours/week
    3.37 + 1 related

  • Amy I Brandt

    DIRECTOR

    Total calculated
    $27,550
    From this org
    $13,150
    From related orgs
    $14,400
    Other
    $0
    Hours/week
    2.62 + 1 related

  • Matthew Holloway

    SECRETARY

    Total calculated
    $24,450
    From this org
    $10,050
    From related orgs
    $14,400
    Other
    $0
    Hours/week
    2.02 + 1 related

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 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4a · Severance or change-of-control payment

Answered no

  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement

The filer's explanations (Part III)

SCHEDULE J, PAGE 1, PART I, LINE 4
MATTHEW TEFFEAU 65,000 0 0

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.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • CHOPTANK SERVICES CORPORATION

    C CORP · HOLDING CO · MD · 100% owned · share of income $469,526 · share of assets $7,959,059

    Directly controlled by CHOPTANK

  • CHOPTANK FIBER

    C CORP · INTERNET · MD · 100% owned · share of income -$792,982 · share of assets $34,641,312

    Directly controlled by CHOPTANK

Provenance

Return type
form_990
Tax year
2025
Filed
15 May 2026
IRS schema version
2025v4.0
Source object
202611279349301711

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