Totals
- Total revenue
- $181,987,587
- Total expenses
- $166,550,159
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $180,600,689
- Investment income
- $1,006,955
- Other revenue
- $379,943
- Total assets, end of year
- $514,178,827
- Total liabilities, end of year
- $309,387,699
- Net assets or fund balances, end of year
- $204,791,128
- 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 $164,430,796 · related or exempt $164,430,796
-
2b · Program service revenue: CONTRIB IN AID OF CONST
total $15,789,083 · related or exempt $15,789,083
-
2c · Program service revenue: PATRONAGE ALLOC RECEIVED
total $380,810 · related or exempt $380,810
-
3 · Investment income
total $941,914 · unrelated business $782,595 · excluded $159,319
-
6a · Gross rents
real property $48,688 · personal property $76,338
-
6c · Rental income or loss
real property $48,688 · personal property $76,338
-
6d · Net rental income or loss
total $125,026 · related or exempt $48,688 · excluded $76,338
-
7a · Gross sales of assets other than inventory
other assets $76,100
-
7b · Less cost or other basis and sales expenses
other assets $11,059
-
7c · Gain or loss
other assets $65,041
-
7d · Net gain or loss
total $65,041 · excluded $65,041
-
10a · Gross sales of inventory
$779,811
-
10b · Cost of goods sold
$645,080
-
10c · Net income from sales of inventory
total $134,731 · unrelated business $134,731
-
11a · Other revenue: FIBER LEASE
total $120,000 · unrelated business $120,000
-
11b · Other revenue: NET REC SALES PROF (LOSS)
total $186 · related or exempt $186
-
11e · Other revenue, total
$120,186
Functional expenses
Part IX, the statement of functional expenses.
-
4 · Benefits paid to or for members
total $10,690,905
-
5 · Compensation of officers, directors and key employees
total $2,441,744
-
7 · Other salaries and wages
total $15,995,277
-
8 · Pension plan contributions
total $2,922,432
-
9 · Other employee benefits
total -$1,423,232
-
10 · Payroll taxes
total $1,426,346
-
11b · Fees: legal
total $24,865
-
11d · Fees: lobbying
total $165,142
-
17 · Travel
total $3,314,586
-
19 · Conferences, conventions and meetings
total $287,881
-
20 · Interest
total $13,815,926
-
22 · Depreciation, depletion and amortization
total $16,098,722
-
24a · Other expenses: COST OF POWER
total $91,753,489
-
24b · Other expenses: DIST. MAINTENANCE
total $6,530,932
-
24c · Other expenses: TAXES
total $4,707,078
-
24d · Other expenses: GENERAL AND ADMIN
total $3,500,493
-
24e · All other expenses
total -$5,702,427
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $295,774 · end of year $1,069,922
-
2 · Savings and temporary cash investments
beginning of year $1,431,714 · end of year $539,969
-
4 · Accounts receivable
beginning of year $48,107,246 · end of year $44,627,486
-
8 · Inventories for sale or use
beginning of year $16,950,474 · end of year $16,041,557
-
9 · Prepaid expenses and deferred charges
beginning of year $34,157,428 · end of year $33,427,324
-
10a · Land, buildings and equipment: cost or other basis
$527,981,951
-
10b · Land, buildings and equipment: accumulated depreciation
$189,796,781
-
10c · Land, buildings and equipment, net
beginning of year $332,893,669 · end of year $338,185,170
-
12 · Investments: other securities
beginning of year $6,317,088 · end of year $7,819,292
-
13 · Investments: program-related
beginning of year $70,651,265 · end of year $72,094,716
-
15 · Other assets
beginning of year $277,219 · end of year $373,391
-
17 · Accounts payable and accrued expenses
beginning of year $29,234,414 · end of year $28,176,235
-
23 · Secured mortgages and notes payable
beginning of year $251,686,778 · end of year $251,555,282
-
25 · Other liabilities
beginning of year $35,650,919 · end of year $29,656,182
-
31 · Retained earnings, endowment or other funds
beginning of year $194,509,766 · end of year $204,791,128
Mission and programs · 2024
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 91,753,489 DEPRECIATION 16,098,722 OTHER SALARIES AND WAGES 15,995,277
As filed on the 2024 return.
Listed in Part VII
-
Micheal E MalandroMICHEAL E MALANDRO
PRESIDENT &
- Total calculated
- $966,015
- From this org
- $709,044
- From related orgs
- $173,819
- Other
- $83,152
- Hours/week
- 40 + 8 related
Schedule J breakdown matched by us
- Base
- $509,217 + $117,307 related
- Bonus
- $199,827 + $56,512 related
- Other
- not reported
- Deferred
- $53,277 + $12,273 related
- Nontaxable benefits
- $14,306 + $3,296 related
- Filer's total
- $776,627 + $189,388 related
-
Lisa DesantisLISA DESANTIS
VP & CFO
- Total calculated
- $316,763
- From this org
- $138,469
- From related orgs
- $107,318
- Other
- $70,976
- Hours/week
- 40 + 17 related
Schedule J breakdown matched by us
- Base
- $138,469 + $96,818 related
- Bonus
- not reported + $10,500 related
- Other
- not reported
- Deferred
- $32,423 + $22,670 related
- Nontaxable benefits
- $9,347 + $6,536 related
- Filer's total
- $180,239 + $136,524 related
-
Lance LockermanLANCE LOCKERMAN
VP OPERATION
- Total calculated
- $315,690
- From this org
- $222,693
- From related orgs
- $5,117
- Other
- $87,880
- Hours/week
- 40 + 1 related
Schedule J breakdown matched by us
- Base
- $217,693 + $4,617 related
- Bonus
- $5,000 + $500 related
- Other
- not reported
- Deferred
- $70,818 + $1,502 related
- Nontaxable benefits
- $15,237 + $323 related
- Filer's total
- $308,748 + $6,942 related
-
Timothy McGahaTIMOTHY MCGAHA
VP TECH SERV
- Total calculated
- $305,567
- From this org
- $88,689
- From related orgs
- $160,775
- Other
- $56,103
- Hours/week
- 40 + 25 related
Schedule J breakdown matched by us
- Base
- $88,689 + $148,275 related
- Bonus
- not reported + $12,500 related
- Other
- not reported
- Deferred
- $15,067 + $25,190 related
- Nontaxable benefits
- $5,923 + $9,923 related
- Filer's total
- $109,679 + $195,888 related
-
Leroy SverdukLEROY SVERDUK
VP ENGINEERI
- Total calculated
- $296,441
- From this org
- $119,042
- From related orgs
- $125,140
- Other
- $52,259
- Hours/week
- 40 + 20 related
Schedule J breakdown matched by us
- Base
- $119,042 + $114,640 related
- Bonus
- not reported + $10,500 related
- Other
- not reported
- Deferred
- $17,811 + $17,153 related
- Nontaxable benefits
- $8,810 + $8,485 related
- Filer's total
- $145,663 + $150,778 related
-
Paula J BishopPAULA J BISHOP
VP H.R.
- Total calculated
- $292,738
- From this org
- $224,295
- From related orgs
- $495
- Other
- $67,948
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $219,295
- Bonus
- $5,000 + $495 related
- Other
- not reported
- Deferred
- $50,653
- Nontaxable benefits
- $17,295
- Filer's total
- $292,243 + $495 related
-
Valerie ConnellyVALERIE CONNELLY
VP GOV. AFFA
- Total calculated
- $278,398
- From this org
- $179,494
- From related orgs
- $61,447
- Other
- $37,457
- Hours/week
- 40 + 12 related
Schedule J breakdown matched by us
- Base
- $153,494 + $60,947 related
- Bonus
- $26,000 + $500 related
- Other
- not reported
- Deferred
- $22,970 + $9,121 related
- Nontaxable benefits
- $3,841 + $1,525 related
- Filer's total
- $206,305 + $72,093 related
-
Sarah M DahlSARAH M DAHL
VP GENERAL C
- Total calculated
- $269,647
- From this org
- $152,326
- From related orgs
- $66,228
- Other
- $51,093
- Hours/week
- 40 + 11 related
Schedule J breakdown matched by us
- Base
- $152,326 + $57,728 related
- Bonus
- not reported + $8,500 related
- Other
- not reported
- Deferred
- $24,293 + $9,207 related
- Nontaxable benefits
- $12,758 + $4,835 related
- Filer's total
- $189,377 + $80,270 related
-
Shawn SparksSHAWN SPARKS
MGR OPERATIO
- Total calculated
- $261,071
- From this org
- $132,897
- From related orgs
- $52,802
- Other
- $75,372
- Hours/week
- 40 + 12 related
Schedule J breakdown matched by us
- Base
- $132,897 + $52,302 related
- Bonus
- not reported + $500 related
- Other
- not reported
- Deferred
- $41,437 + $16,308 related
- Nontaxable benefits
- $12,649 + $4,978 related
- Filer's total
- $186,983 + $74,088 related
-
Charles Gleaton JrCHARLES GLEATON JR
CHIEF ENGINE
- Total calculated
- $233,387
- From this org
- $173,140
- From related orgs
- $15,698
- Other
- $44,549
- Hours/week
- 40 + 3 related
Schedule J breakdown matched by us
- Base
- $168,140 + $15,198 related
- Bonus
- $5,000 + $500 related
- Other
- not reported
- Deferred
- $24,995 + $2,259 related
- Nontaxable benefits
- $15,861 + $1,434 related
- Filer's total
- $213,996 + $19,391 related
-
Curtis ShortCURTIS SHORT
MGR DISTRICT
- Total calculated
- $213,056
- From this org
- $151,228
- From related orgs
- $494
- Other
- $61,334
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $151,228
- Bonus
- not reported + $494 related
- Other
- not reported
- Deferred
- $47,014
- Nontaxable benefits
- $14,320
- Filer's total
- $212,562 + $494 related
-
Nathan SchrepplerNATHAN SCHREPPLER
CHIEF ENGINE
- Total calculated
- $200,412
- From this org
- $168,184
- From related orgs
- $500
- Other
- $31,728
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $165,184
- Bonus
- $3,000 + $500 related
- Other
- not reported
- Deferred
- $26,362
- Nontaxable benefits
- $5,366
- Filer's total
- $199,912 + $500 related
-
Jeremy GoldmanJEREMY GOLDMAN
EXC BUSINESS
- Total calculated
- $178,168
- From this org
- $8,908
- From related orgs
- $149,540
- Other
- $19,720
- Hours/week
- 40 + 37 related
Schedule J breakdown matched by us
- Base
- $8,908 + $136,540 related
- Bonus
- not reported + $13,000 related
- Other
- not reported
- Deferred
- $235 + $3,602 related
- Nontaxable benefits
- $973 + $14,910 related
- Filer's total
- $10,116 + $168,052 related
-
Donna R WestDONNA R WEST
DIRECTOR
- Total calculated
- $42,200
- From this org
- $34,400
- From related orgs
- $7,800
- Other
- $0
- Hours/week
- 8.21 + 1 related
-
Jeffrey D Rathell SrJEFFREY D RATHELL SR
DIRECTOR
- Total calculated
- $35,100
- From this org
- $27,300
- From related orgs
- $7,800
- Other
- $0
- Hours/week
- 6.4 + 1 related
-
Craig N MathiesCRAIG N MATHIES
DIRECTOR
- Total calculated
- $34,600
- From this org
- $26,800
- From related orgs
- $7,800
- Other
- $0
- Hours/week
- 5.2 + 1 related
-
Douglas D ScottDOUGLAS D SCOTT
CHAIRMAN
- Total calculated
- $32,500
- From this org
- $24,700
- From related orgs
- $7,800
- Other
- $0
- Hours/week
- 3.66 + 1 related
-
Amy I BrandtAMY I BRANDT
DIRECTOR
- Total calculated
- $29,800
- From this org
- $22,000
- From related orgs
- $7,800
- Other
- $0
- Hours/week
- 3.67 + 1 related
-
John J BurkeJOHN J BURKE
TREASURER
- Total calculated
- $29,250
- From this org
- $21,450
- From related orgs
- $7,800
- Other
- $0
- Hours/week
- 3.69 + 1 related
-
Robert B ThompsonROBERT B THOMPSON
DIRECTOR
- Total calculated
- $28,300
- From this org
- $20,500
- From related orgs
- $7,800
- Other
- $0
- Hours/week
- 4.88 + 1 related
-
Matthew HollowayMATTHEW HOLLOWAY
SECRETARY
- Total calculated
- $27,300
- From this org
- $19,500
- From related orgs
- $7,800
- Other
- $0
- Hours/week
- 3.34 + 1 related
-
Kristen NickersonKRISTEN NICKERSON
DIRECTOR
- Total calculated
- $26,000
- From this org
- $18,200
- From related orgs
- $7,800
- Other
- $0
- Hours/week
- 4.05 + 1 related
-
Robert E ArnoldROBERT E ARNOLD
VICE CHAIRMA
- Total calculated
- $25,800
- From this org
- $18,000
- From related orgs
- $7,800
- Other
- $0
- Hours/week
- 3.23 + 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
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.
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.
-
501 C3 · EDUCATION · MD · controlled entity
Directly controlled by CHOPTANK CHOPTANK ELECTRIC COOOPERATIVE
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 $560,566 · share of assets $7,289,361
Directly controlled by CHOPTANK
-
CHOPTANK FIBER
C CORP · INTERNET · MD · 100% owned · share of income -$58,363 · share of assets $29,709,458
Directly controlled by CHOPTANK
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 15 April 2025
- IRS schema version
- 2024v5.0
- Source object
- 202511229349300931
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