Adams Electric Cooperative Inc

Organization Overview

Adams Electric Cooperative Inc is located in Gettysburg, PA. The organization was established in 1942. 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 12/2021, Adams Electric Cooperative Inc employed 80 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Adams 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 12/2021, Adams Electric Cooperative Inc generated $70.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.2% each year. All expenses for the organization totaled $74.9m during the year ending 12/2021. While expenses have increased by 2.1% per year over the past 7 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

ADAMS ELECTRIC COOPERATIVE PROVIDES SAFE AND EFFECTIVE DISTRIBUTION OF ELECTRICITY TO OUR MEMBERS

Describe the Organization's Program Activity:

Part 3 - Line 4a

THE SALE AND DISTRIBUTION OF ELECTRICITY TO MEMBERS OF ADAMS ELECTRIC COOPERATIVE. THE THREE LARGEST PROGRAM SERVICES, AS MEASURED BY EXPENSES ARE AS FOLLOWS: COST OF POWER 35,595,822 BENEFITS PAID TO MEMBERS 12,217,368 SALARIES AND WAGES 8,325,775


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Board, Officers & Key Employees

Name (title)Compensation
Steven Rasmussen
CEO / Gm
$457,445
Lynn Wallas
Manager Fina
$226,142
Mike Feathers
Manager Oper
$204,332
Kyle Smith
Mgr Info Tec
$201,244
Chad Thoman
Mgr Eng/elec
$193,921
Jeffery Turner
Mgr Eng/mech
$185,986

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Asplundh Tree Expert Co
Tree Trimming
$1,937,022
Quality Lines Inc
Const. Contract
$1,379,056
Penn Line Service Inc
Tree Trimming
$1,598,224
Eg Anderson Inc
Const. Contract
$1,177,252
Traffic Control Services Llc
Flaggers
$619,415
View All Vendors

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$68,157,716
Investment income $94,064
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $957,926
Net Gain/Loss on Asset Sales $64,174
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $70,869,610

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