OTSEGO ELECTRIC COOPERATIVE INC

EIN: 150500061

HARTWICK, NY

Total Revenue
$13,488,990
Total Expenses
$13,054,917
Total Assets
$55,175,138
Net Assets
$17,450,775
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1941
Legal Domicile
NY
Principal Officer
TIMOTHY R JOHNSON
Phone
6072936622
Tax Period
2024-01-01 to 2024-12-31

OTSEGO ELECTRIC COOPERATIVE INC, founded in 1941, is a mid-sized nonprofit that reported $13.5M in total revenue in fiscal year 2024. Expenses of $13.1M left a modest 3% surplus.

Mission

The Mission of Otsego Electric Cooperative, Inc. is working to improve the quality of life of our members and our communities. The Purpose of Otsego Electric Cooperative, Inc. is to provide cost competitive, safe and reliable energy and broadband solutions.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $13,344,271
Investment Income $144,719
Other Revenue $0
TOTAL REVENUE $13,488,990

Expense Breakdown

Grants Paid $0
Salaries & Benefits $2,662,217
Fundraising Expenses $0
Other Expenses $8,861,601
TOTAL EXPENSES $13,054,917

Year-over-Year Comparison

2024 2023 Change
Revenue $13,488,990 $13,104,160 +0.0%
Expenses $13,054,917 $12,729,444 +0.0%
Net Income $434,073 $374,716 +0.2%
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

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Liquidity & Cash Position

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Governance

Voting Members
7
Independent Members
7
Employees
26
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
6
$441,186
Total Directors
7
$39,663
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
TIMOTHY R JOHNSON CEO/counsel 42.90
Officer
$201,318 $68,043 $269,361
KEVIN M ROTTINGEN LINE FOREMAN 45.50
$162,855 $84,734 $247,589
STEVEN SICKLER CONSTRUCT FOREMAN 44.40
$127,728 $63,849 $191,577
JUSTIN MARCH MAINTENANCE FOREMA 45.30
$144,755 $31,505 $176,260
BRAD ALGER 1ST CLASS LINEMAN 45.30
$136,447 $16,179 $152,626
CODY ALLEN DIRECTOR ACCT 48.00
Officer
$119,185 $28,981 $148,166
Frederick Beardslee Jr APPRENTICE LINEMAN 45.90
$130,330 $11,036 $141,366
PATRICK HOOKER Director 9.10
Director
$7,946 $0 $7,946
GARY POTTER President 2.30
Officer Director
$7,218 $0 $7,218
CHARLES ARNOLD Vice President 2.40
Officer Director
$5,847 $0 $5,847
EDWARD CLARKE Treasurer 2.50
Officer Director
$5,847 $0 $5,847
STEVEN CHILD Secretary 2.20
Officer Director
$4,747 $0 $4,747
AMY PARR DIRECTOR 2.30
Director
$4,047 $0 $4,047
FREDERICK BRAUN JR DIRECTOR 1.80
Director
$4,011 $0 $4,011
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 $13,488,990 $13,054,917 $55,175,138 $434,073
2023 $13,104,160 $12,729,444 $54,918,689 $374,716
2022 $12,788,571 $12,234,440 $49,086,255 $554,131
2021 $10,412,060 $10,260,220 $49,068,805 $151,840
2020 $8,701,959 $8,351,365 $51,553,622 $350,594
2019 $9,342,111 $7,854,622 $41,742,094 $1,487,489
2018 $7,443,827 $7,118,938 $36,673,045 $324,889
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