Adams Rural Electric Cooperative Inc

EIN: 314112933

West Union, OH

Total Revenue
$19,903,711
Total Expenses
$19,468,565
Total Assets
$41,008,036
Net Assets
$22,003,629
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1940
Legal Domicile
OH
Principal Officer
Erika J Ackley
Phone
9375442305
Tax Period
2024-01-01 to 2024-12-31

Adams Rural Electric Cooperative Inc, founded in 1940, is a mid-sized nonprofit that reported $19.9M in total revenue in fiscal year 2024. Revenue grew 9% year-over-year, indicating healthy expansion.

Mission

The cooperatives mission is to provide electric service to our members at the lowest possible cost.

Program Service Accomplishments

Program 1
Expenses: $19,468,565 Revenue: $19,903,711

Sale of electric to the rural area in five counties in southern Ohio

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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 $19,858,380
Investment Income $45,331
Other Revenue $0
TOTAL REVENUE $19,903,711

Expense Breakdown

Grants Paid $0
Salaries & Benefits $2,251,198
Fundraising Expenses $0
Program Expenses $19,468,565
Other Expenses $15,982,156
TOTAL EXPENSES $19,468,565

Year-over-Year Comparison

2024 2023 Change
Revenue $19,903,711 $18,297,373 +0.1%
Expenses $19,468,565 $17,059,314 +0.1%
Net Income $435,146 $1,238,059 -0.6%
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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Governance

Voting Members
9
Independent Members
6
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
4
$256,376
Total Directors
9
$72,695
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Donald McCarty President 5.19
Officer Director
$11,650 $6 $11,656
Charles Newman Vice President 5.07
Officer Director
$9,750 $6 $9,756
Kenneth McCann Secretary and Treasurer 4.62
Officer Director
$7,950 $6 $7,956
David Abbott Trustee 1.53
Director
$6,000 $6 $6,006
Blanchard Campbell Trustee 1.37
Director
$8,100 $3 $8,103
Milton Dale Grooms Trustee 1.09
Director
$5,100 $2 $5,102
Stephen Huff Trustee 4.15
Director
$10,900 $6 $10,906
William Seaman Trustee 2.14
Director
$8,400 $4 $8,404
William Wylie Trustee 1.55
Director
$4,800 $6 $4,806
Erika Ackley General Manager 48.69
Officer
$158,284 $68,724 $227,008
Steve Hoop Manager of Operations 42.54
Highest
$124,222 $108,777 $232,999
David Henry Foreman 45.91
Highest
$121,654 $62,031 $183,685
Michael Whitley Foreman 48.30
Highest
$131,254 $52,389 $183,643
Nathan Colvin Lineman 47.36
Highest
$125,763 $30,595 $156,358
Cody Rigdon Lineman 44.78
Highest
$114,428 $20,327 $134,755
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 $19,903,711 $19,468,565 $41,008,036 $435,146
2023 $18,297,373 $17,059,314 $40,601,363 $1,238,059
2022 $18,174,264 $17,133,285 $40,215,712 $1,040,979
2021 $17,363,278 $16,067,343 $40,089,293 $1,295,935
2020 $17,189,154 $15,847,442 $40,339,630 $1,341,712
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