Overview
What is Delaware Electric Cooperative Inc?
Delaware Electric Cooperative Inc, located at 14198 Sussex Highway, Greenwood, Delaware, is a nonprofit organization dedicated to providing reliable and safe electric power to its members. With a team of 193 employees, their primary mission is the effective and secure distribution of electricity to the members of DEC. Their major programs include the procurement of power, benefits for members, and employee compensation. The three largest areas of expense for the cooperative are the cost of power, benefits for members, and salaries and wages for employees.
Official website here: www.delaware.coop
Is Delaware Electric Cooperative Inc legitimate?
Delaware Electric Cooperative Inc is a legitimate nonprofit organization registered as a 501(c)(12) entity. Delaware Electric Cooperative Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $3,092,604
Professional Fundraising Fees: $0
Other Salaries and Wages: $19,499,619
For more financial information, click here
Official website here: www.delaware.coop
What is the mission statement of Delaware Electric Cooperative Inc?
Delaware Electric Cooperative Inc is committed to ensuring the safe and reliable delivery of electricity to its members. The organization prioritizes this mission significantly, as evidenced by its largest program expenses. Among these expenses, the cost of power takes the lead, followed by benefits for members and other salaries and wages. By focusing on these areas, Delaware Electric Cooperative Inc strives to maintain a consistent electricity supply and cater to the needs of its members effectively.
Official website here: www.delaware.coop
What is the revenue of Delaware Electric Cooperative Inc?
Delaware Electric Cooperative Inc's revenue in 2024 was $254,849,361.
Official website here: www.delaware.coop
Who are the executives of Delaware Electric Cooperative Inc and what are their salaries?
The average compensation at Delaware Electric Cooperative Inc during 2024 was $116,455. There are 194 employees at Delaware Electric Cooperative Inc.
Here are 25 key members and their salaries:
- Compensation: $504,180
- Related: $0
- Other: $64,870
- Compensation: $369,749
- Related: $0
- Other: $69,504
- Compensation: $267,136
- Related: $0
- Other: $52,251
- Compensation: $263,509
- Related: $0
- Other: $54,387
- Compensation: $237,369
- Related: $0
- Other: $60,938
- Compensation: $239,442
- Related: $0
- Other: $43,038
- Compensation: $230,825
- Related: $0
- Other: $49,599
- Compensation: $213,888
- Related: $0
- Other: $54,793
- Compensation: $215,192
- Related: $0
- Other: $35,315
- Compensation: $185,678
- Related: $0
- Other: $52,576
- Compensation: $197,195
- Related: $0
- Other: $35,962
- Compensation: $163,715
- Related: $0
- Other: $38,053
- Compensation: $175,477
- Related: $0
- Other: $25,238
- Compensation: $39,175
- Related: $0
- Other: $0
- Compensation: $35,950
- Related: $0
- Other: $0
- Compensation: $35,500
- Related: $0
- Other: $0
- Compensation: $33,500
- Related: $0
- Other: $0
- Compensation: $33,500
- Related: $0
- Other: $0
- Compensation: $30,500
- Related: $0
- Other: $0
- Compensation: $27,500
- Related: $0
- Other: $0
- Compensation: $27,000
- Related: $0
- Other: $0
- Compensation: $25,000
- Related: $0
- Other: $0
- Compensation: $17,500
- Related: $0
- Other: $0
- Compensation: $7,500
- Related: $0
- Other: $0
- Compensation: $4,500
- Related: $0
- Other: $0
Official website here: www.delaware.coop
Where can I find the form 990 for Delaware Electric Cooperative Inc?
Delaware Electric Cooperative Inc's most recent form 990 was submitted in 2024 and can be accessed here.
Official website here: www.delaware.coop
Learn more at the official website: www.delaware.coop
Mission Statement of Delaware Electric Cooperative Inc
Delaware Electric Cooperative Inc, dedicated to ensuring the safe and effective delivery of electricity to its members, is a nonprofit organization that prioritizes the provision of reliable power to its community. The mission of Delaware Electric Cooperative Inc is centered around securing a consistent electricity supply for its members, ensuring their homes and businesses remain connected and functional.
The cooperative places great importance on the safe aspect of electricity distribution. It invests in the maintenance of its infrastructure and adheres to strict safety protocols, ensuring that power is delivered without putting the public at risk. The cooperative's commitment to effectiveness is evident in its efficient operations, which minimize power outages and ensure that electricity is readily available when needed. These efforts are crucial in maintaining the quality of life and economic productivity of the communities it serves.
Delaware Electric Cooperative Inc's dedication to its members goes beyond just electricity distribution. The organization allocates significant resources towards its three largest program services: the cost of power, benefits paid to or for its members, and other salaries and wages. These investments demonstrate the cooperative's commitment to not only providing electricity but also supporting its members and the local economy. By prioritizing the safety, reliability, and effectiveness of its electricity distribution, Delaware Electric Cooperative Inc continues to be a vital partner in the lives of its members.
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Impact
October, 2024
Delaware Electric Cooperative Inc plays a crucial role in ensuring that electricity is distributed safely and effectively to its members. With a focus on delivering reliable power, the cooperative emphasizes operational efficiency and member benefits.
The cost of power represents a significant portion of its expenses, illustrating the importance of maintaining affordable energy rates for the community. In 2023, expenditures for power amounted to approximately $141.6 million, highlighting the cooperative's commitment to sourcing electricity responsibly and sustainably.
Additionally, DELCO prioritizes member welfare through direct benefits, with approximately $18.2 million allocated to various programs that support its members. This focus on member benefits fosters a sense of community and trust, reinforcing the cooperative's dedication to its constituents.
The cooperative also invests in its workforce, with salaries and wages reaching around $16.2 million. This not only ensures efficient operation but also contributes to local economic stability by providing employment opportunities.
Overall, Delaware Electric Cooperative Inc significantly impacts its members by providing safe, reliable, and affordable electricity, while simultaneously promoting community development and supporting its local economy.
This information is meant to be a general summary of Delaware Electric Cooperative Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2024.
- Investment Income: $1,079,771
- Program Service Revenue: $252,503,894
- Gross Receipts: $254,890,859
Assets and Liabilities:
- Total Assets: $429,246,863
- Total Liabilities: $218,401,311
- Net Assets: $210,845,552
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
SALE AND DIST. OF ELECT.
Revenue
$229,562,875
CONT. IN AID OF CONST.
Revenue
$22,584,700
PATRONAGE CAPITAL - REC
Revenue
$303,929
SURGE PROTECTOR PROGRAM
Revenue
$52,390
Organization Details
Founding Year
1936
Principal Officer
Robert Book
Website
www.delaware.coopNTEE Category
Code: W80 - Public benefit
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