Delaware Electric Cooperative Inc

Organization Overview

Delaware Electric Cooperative Inc is located in Greenwood, DE. The organization was established in 1938. 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 12/2022, Delaware Electric Cooperative Inc employed 193 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Delaware 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 12/2022, Delaware Electric Cooperative Inc generated $226.8m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.2% each year. All expenses for the organization totaled $212.3m during the year ending 12/2022. While expenses have increased by 3.4% per year over the past 8 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.

Since 2018, Delaware Electric Cooperative Inc has awarded 19 individual grants totaling $797,000. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

SAFE AND EFFECTIVE DISTRIBUTION OF ELECTRICITY TO THE MEMBERS OF DEC

Describe the Organization's Program Activity:

Part 3 - Line 4a

SAFE AND EFFECTIVE DELIVERY OF ELECTRICITY TO THE MEMBERS OF DEC. THE THREE LARGEST PROGRAM SERVICES, AS MEASURED BY EXPENSES, ARE AS FOLLOWS: COST OF POWER 141,567,720 BENEFITS PAID TO OR FOR MEMBERS 18,240,855 OTHER SALARIES AND WAGES 16,171,093


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Board, Officers & Key Employees

Name (title)Compensation
Gregory Starheim
Former Presi
$497,858
Thomas Beamon
Cfo/ Sr. VP
$258,989
Richard H Johnson
1st Class Se
$225,829
Robert Book
President/ce
$205,592
Christopher J Penuel
1st Class Se
$206,244
David C Shapley
VP Strategy
$191,967

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Utility Lines Const Inc
Line Maint.
$7,276,308
Asplundh Tree Expert Inc
Tree Removal
$3,615,535
Rock Creek Line Construction Inc
Line Maint.
$2,407,277
Aui Inc
Transmission
$604,957
Utility Lines Construction Services
Line Maint.
$921,709
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$225,097,262
Investment income $445,513
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $1,245,381
Net Gain/Loss on Asset Sales $33,970
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $226,822,126

Grants Awarded

Over the last fiscal year, Delaware Electric Cooperative Inc has awarded $135,000 in support to 3 organizations.

Grant RecipientAmount

BEEBE MEDICAL FOUNDATION

PURPOSE: CHARITABLE

$50,000

FESTIVAL OF CHEER

PURPOSE: CHARITABLE

$35,000

BAY HEALTH FOUNDATION

PURPOSE: CHARITABLE

$50,000
View Grant Profile

Peer Organizations

Organization NameAssets
Southern Maryland Electric Cooperative Inc
Hughesville, MD
$482,120,622
Delaware Electric Cooperative Inc
Greenwood, DE
$226,822,126
Choptank Electric Corp
Denton, MD
$164,513,922
Adams Electric Cooperative Inc
Gettysburg, PA
$78,385,681
Central Electric Cooperative Inc
Parker, PA
$50,342,119
Rea Energy Cooperative Inc
Indiana, PA
$53,733,786
Tri-County Rural Electric Cooperative Inc
Mansfield, PA
$45,897,232
United Electric Cooperative Inc
Du BOIS, PA
$31,964,967
Tm Forum
Parsippany, NJ
$28,640,434
Sussex Rural Electric Cooperative Inc
Sussex, NJ
$25,482,647
Claverack Rural Electric Cooperative Inc
Wysox, PA
$29,387,147
Somerset Rural Electric Cooperative Inc
Somerset, PA
$25,841,270
Valley Rural Electric Cooperative Inc
Huntingdon, PA
$22,611,331
Northwestern Rural Electric Cooperative Association Inc
Cambridge Springs, PA
$22,536,931
Warren Electric Cooperative Inc
Youngsville, PA
$13,047,212
Bedford Rural Electric Cooperative Inc
Bedford, PA
$11,384,083
Sullivan County Rural Electric Cooperative Inc
Forksville, PA
$10,321,866
New Enterprise Rural Electric Cooperative Inc
New Enterprise, PA
$9,236,961
Roamingwood Sewer And Water Association
Lake Ariel, PA
$6,618,506
Public Power Association Of New Jersey
Butler, NJ
$5,264,087
National Electrical Contractors Assoc Penn Del Jersey Chapter
King Of Prussia, PA
$4,224,957
Nassco Inc
Frederick, MD
$4,708,642
Western Pa Chapter National Electrical Contractors Assoc Inc
Pittsburgh, PA
$1,983,790
Pp&l Sustainable Energy Fund Inc
Schnecksville, PA
$1,612,844
Retail Energy Supply Association
Hummelstown, PA
$2,096,923

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