DELAWARE COUNTY ELECTRIC COOPERATI… - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1942

Legal Domicile

Principal Officer

John Gasstrom

Phone

6077462341

Tax Period

2023-01-01 to 2023-12-31

DELAWARE COUNTY ELECTRIC COOPERATIVE INC, founded in 1942, is a community nonprofit that reported $9.6M in total revenue in fiscal year 2023.

Mission

THE AIM OF THE DELAWARE COUNTY ELECTRIC COOPERATIVE, INC. IS TO PROVIDE ELECTRIC ENERGY AND RELATED SERVICES TO ITS MEMBERS AT THE LOWEST COST, CONSISTENT WITH SOUND ECONOMY AND GOOD MANAGEMENT.

Program Service Accomplishments

Program 1

PROVIDING ELECTRICITY TO MEMBERS

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $9,535,374

Investment Income $49,192

Other Revenue $49,282

TOTAL REVENUE $9,633,848

Expense Breakdown

Grants Paid $0

Salaries & Benefits $562,530

Fundraising Expenses $0

Other Expenses $8,838,065

TOTAL EXPENSES $9,716,803

Year-over-Year Comparison

	2023	2022	Change
Revenue	$9,633,848	$10,106,533	0.0%
Expenses	$9,716,803	$10,146,542	0.0%
Net Income	$-82,955	$-40,009	+1.1%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

N/A

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$551,630

Total Directors

$59,825

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
EDWARD PICK	PRESIDENT	7.00	Officer Director	$17,525	$0	$17,525
JEFFREY RUSSELL	VICE PRESIDENT	4.00	Officer Director	$9,750	$0	$9,750
LAURIE WEHMEYER	SECRETARY	5.00	Officer Director	$13,125	$0	$13,125
STEPHEN OLES	DIRECTOR	3.00	Director	$7,000	$0	$7,000
EDWARD FURGOL	TREASURER	3.50	Officer Director	$8,525	$0	$8,525
PATRICK O'BRIEN	DIRECTOR	2.50	Director	$2,100	$0	$2,100
DAVID KRZYSTON	DIRECTOR	2.00	Director	$1,800	$0	$1,800
JOHN GASSTROM	CEO/GM	49.30	Officer	$156,586	$33,946	$190,532
MARK CANNIZZARO	CFO	46.50	Officer	$127,996	$37,264	$165,260
RYAN SULLIVAN	COO	46.00	Officer	$112,786	$34,127	$146,913
MICHAEL SCHAFER	JOURNEYMAN LINEMAN	45.70	Highest	$124,006	$44,718	$168,724
MICHAEL PIETRANTONI	WORKING SUPERINTENDENT	46.80	Highest	$132,612	$59,796	$192,408
JAMES GREEN	JOURNEYMAN LINEMAN	45.40	Highest	$118,100	$41,748	$159,848
DAVID SCHMIDT	JOURNEYMAN LINEMAN	44.90	Highest	$116,302	$48,474	$164,776
MICAH SCOBIE	JOURNEYMAN LINEMAN	44.50	Highest	$114,726	$17,057	$131,783

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	No data	No data	No data	No data
2023	$9,633,848	$9,716,803	$29,903,337	$-82,955
2022	$10,106,533	$10,146,542	$30,826,138	$-40,009
2021	$9,563,968	$9,103,660	$31,160,673	$460,308
2020	$9,066,086	$8,954,896	$31,214,584	$111,190
2019	$9,019,336	$8,868,821	$27,720,067	$150,515
2018	$9,230,373	$9,139,499	$27,324,455	$90,874

DELAWARE COUNTY ELECTRIC COOPERATIVE INC