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ADAMS ELECTRIC COOPERATIVE PROVIDES SAFE AND EFFECTIVE DISTRIBUTION OF ELECTRICITY TO OUR MEMBERS
Source: IRS Form 990 (Tax Year 2024)
Source: IRS e-Filed Form 990 (from the IRS e-File system), Tax Year 2024
Total Revenue
▼$83.5M
Program Spending
0%
of total expenses go to program services
Total Contributions
$0
Total Expenses
▼$86M
Total Assets
$256.3M
Total Liabilities
▼$148.7M
Net Assets
$107.6M
Officer Compensation
→$1.2M
Other Salaries
$9M
Investment Income
$169.4K
Fundraising
▼N/A
Source: USAspending.gov · Searched by organization name
Total Federal Funding
$5.5M
Awards Found
2
| Awarding Agency | Description | Amount | Fiscal Year | Period | Link |
|---|---|---|---|---|---|
| Department of Energy | PROJECT OBJECTIVES 1. IN SCHUYLER COUNTY, IL, INSTALL A 1 MW WIND TURBINE AND 1MW SOLAR DIRECTLY CONNECTED TO THE ADAMS ELECTRIC COOPERATIVE GRID. 2. PERFORM ONGOING OPERATIONAL MAINTENANCE AND MONITORING OF EQUIPMENT. 3.COMMUNITY BENEFITS: •REDUCE ENERGY COSTS FOR COMMUNITY MEMBERS BY $0.06 PER KWH. •REDUCE DEPENDENCE ON FOSSIL FUELS, AS WELL AS CORRESPONDING REDUCTIONS IN GHG/OTHER HARMFUL AIR POLLUTANTS. •PROMOTE LOCAL ECONOMIC DEVELOPMENT BY CREATING NEW JOBS, DEVELOPING PATHWAYS FOR EMPLOYMENT •EDUCATE COMMUNITY ON RENEWABLE ENERGY AND ENVIRONMENTAL STEWARDSHIP. | $5M | FY2025 | Oct 2024 – Dec 2026 | Open → |
| Department of Agriculture | RENEWABLE ENERGY GRANTS | $450K | FY2008 | Sep 2008 – Sep 2008 | Open → |
Department of Energy
$5M
PROJECT OBJECTIVES 1. IN SCHUYLER COUNTY, IL, INSTALL A 1 MW WIND TURBINE AND 1MW SOLAR DIRECTLY CONNECTED TO THE ADAMS ELECTRIC COOPERATIVE GRID. 2. PERFORM ONGOING OPERATIONAL MAINTENANCE AND MONITORING OF EQUIPMENT. 3.COMMUNITY BENEFITS: •REDUCE ENERGY COSTS FOR COMMUNITY MEMBERS BY $0.06 PER KWH. •REDUCE DEPENDENCE ON FOSSIL FUELS, AS WELL AS CORRESPONDING REDUCTIONS IN GHG/OTHER HARMFUL AIR POLLUTANTS. •PROMOTE LOCAL ECONOMIC DEVELOPMENT BY CREATING NEW JOBS, DEVELOPING PATHWAYS FOR EMPLOYMENT •EDUCATE COMMUNITY ON RENEWABLE ENERGY AND ENVIRONMENTAL STEWARDSHIP.
Source: Federal Audit Clearinghouse (fac.gov)
No federal single audit records found for this organization.
Single audits are required for entities expending $750,000+ in federal awards annually.
Tax Year 2024 · Source: IRS e-Filed Form 990Schedule J available
Individuals serving as officers, directors, or trustees of the organization.
| Name | Title | Hrs/Wk | Compensation | Related Orgs | Other |
|---|
Source: IRS Publication 78, Auto-Revocation List & e-Postcard Data
Tax-deductible contributions: Not confirmed
No additional tax-exempt status records found in ReconForce's database.
Sources: IRS e-Filed Form 990 (XML) & ProPublica Nonprofit Explorer
Scroll →
| Year | Revenue | Contributions | Expenses | Assets | Net Assets |
|---|---|---|---|---|---|
| 2024IRS e-File | $83.5M | $0 | $86M | $256.3M | $107.6M |
| 2023IRS e-File | $78.4M | $0 | $79.6M | $244M | $100.9M |
| 2022 | $72.1M | $0 | $75.1M | $231.1M | $94.8M |
| 2021 | $70.9M |
Sources: ProPublica Nonprofit Explorer & IRS e-File Index
| Tax Year | Form Type | Source | Documents |
|---|---|---|---|
| 2024 | 990 | IRS e-File | PDF not yet published by IRSView Filing → |
| 2023 | 990 | DataIRS e-File | PDF not yet published by IRSView Filing → |
| 2022 | 990 | DataIRS e-File |
Financial data: IRS e-Filed Form 990 (Tax Year 2024)
Leadership & compensation: IRS e-Filed Form 990, Part VII (Tax Year 2024)
Federal grants: USAspending.gov (live)
Organization info: IRS Business Master File
| Total |
|---|
| Steven Rasmussen | CEO / Gm | 50 | $590.8K | $13.5K | $130.4K | $734.7K |
| Michael Johnson | Manager Safe | 50 | $194.5K | $0 | $65.1K | $259.6K |
| Glenn E Bange | President | 15 | $28.9K | $11.5K | $2,000 | $42.4K |
| Dale E Myers | Secretary | 11 | $27.7K | $8,667 | $0 | $36.4K |
| Thomas J Knaub | Treasurer | 11 | $25.2K | $10K | $0 | $35.2K |
| Nadine M Hubner | Vice Preside | 11 | $27.1K | $0 | $0 | $27.1K |
Steven Rasmussen
CEO / Gm
$734.7K
Hrs/Wk
50
Compensation
$590.8K
Related Orgs
$13.5K
Other
$130.4K
Michael Johnson
Manager Safe
$259.6K
Hrs/Wk
50
Compensation
$194.5K
Related Orgs
$0
Other
$65.1K
Glenn E Bange
President
$42.4K
Hrs/Wk
15
Compensation
$28.9K
Related Orgs
$11.5K
Other
$2,000
Dale E Myers
Secretary
$36.4K
Hrs/Wk
11
Compensation
$27.7K
Related Orgs
$8,667
Other
$0
Thomas J Knaub
Treasurer
$35.2K
Hrs/Wk
11
Compensation
$25.2K
Related Orgs
$10K
Other
$0
Nadine M Hubner
Vice Preside
$27.1K
Hrs/Wk
11
Compensation
$27.1K
Related Orgs
$0
Other
$0
Highest compensated employees who are not officers or directors.
| Name | Title | Hrs/Wk | Compensation | Related Orgs | Other | Total |
|---|---|---|---|---|---|---|
| Mike Feathers | Manager Oper | 45 | $218.1K | $0 | $120.9K | $339K |
| Jeffery Turner | Mgr Eng/mech | 50 | $217.8K | $0 | $70.9K | $288.7K |
| James Chiaruttini | Mgr Legal Se | 60 | $223.3K | $0 | $64K |
Mike Feathers
Manager Oper
$339K
Hrs/Wk
45
Compensation
$218.1K
Related Orgs
$0
Other
$120.9K
Jeffery Turner
Mgr Eng/mech
$288.7K
Hrs/Wk
50
Compensation
$217.8K
Related Orgs
$0
Other
$70.9K
James Chiaruttini
Mgr Legal Se
$287.4K
Hrs/Wk
60
Compensation
$223.3K
Related Orgs
$0
Other
$64K
Members of the governing board. Board members often serve without compensation.
| Name | Title | Hrs/Wk | Compensation | Related Orgs | Other | Total |
|---|---|---|---|---|---|---|
| David A Frey | Director | 9 | $15.9K | $0 | $8,350 | $24.3K |
| Jay E Grove | Director | 9 | $9,025 | $0 | $0 | $9,025 |
| Jay Herman | Director | 9 | $22.8K | $0 | $0 | $22.8K |
| Ray Schwartz | Director | 9 | $19.8K | $0 | $0 | $19.8K |
| S Eugene Herritt | Director | 9 | $21.3K | $10K | $0 | $31.3K |
| William French | Director |
David A Frey
Director
$24.3K
Hrs/Wk
9
Compensation
$15.9K
Related Orgs
$0
Other
$8,350
Jay E Grove
Director
$9,025
Hrs/Wk
9
Compensation
$9,025
Related Orgs
$0
Other
$0
Jay Herman
Director
$22.8K
Hrs/Wk
9
Compensation
$22.8K
Related Orgs
$0
Other
$0
| $0 |
| $74.9M |
| $218.3M |
| $85.3M |
| 2020 | $68.2M | $0 | $71M | $206.4M | $73.6M |
| 2019 | $69.1M | $0 | $69.3M | $196.2M | $67.4M |
| 2018 | $70.5M | $0 | $69.9M | $187.9M | $62.6M |
| 2017 | $64.9M | $0 | $65.3M | $178.7M | $57.6M |
| 2016 | $67.2M | $0 | $66.5M | $169.6M | $55.6M |
| 2015 | $65.3M | $0 | $64.6M | $155.6M | $51.7M |
| 2014 | $63.9M | $0 | $64.1M | $145.1M | $48.2M |
| 2013 | $63M | $0 | $62.3M | $142M | $47M |
| 2012 | $57.7M | $0 | $57.5M | $132.5M | $44.9M |
| 2011 | $56.7M | $0 | $58.4M | $130.3M | $42.9M |
| 2021 | 990 | Data |
| 2020 | 990 | Data | PDF not yet published by IRS |
| 2019 | 990 | Data | PDF not yet published by IRS |
| 2018 | 990 | Data |
| 2017 | 990 | Data |
| 2016 | 990 | Data |
| 2015 | 990 | Data |
| 2014 | 990 | Data |
| 2013 | 990 | Data |
| 2012 | 990 | Data |
| 2011 | 990 | Data |
| 2010 | 990 | — |
| 2009 | 990 | — |
| 2008 | 990 | — |
| 2007 | 990 | — |
| 2006 | 990 | — |
| 2005 | 990 | — |
| 2004 | 990 | — |
| $287.4K |
| Chad Thoman | Mgr Eng/elec | 50 | $223K | $0 | $47.5K | $270.4K |
| Lisa Willet | Mgr Hr | 45 | $199.8K | $0 | $69.3K | $269.1K |
Chad Thoman
Mgr Eng/elec
$270.4K
Hrs/Wk
50
Compensation
$223K
Related Orgs
$0
Other
$47.5K
Lisa Willet
Mgr Hr
$269.1K
Hrs/Wk
45
Compensation
$199.8K
Related Orgs
$0
Other
$69.3K
| 9 |
| $7,150 |
| $0 |
| $0 |
| $7,150 |
Ray Schwartz
Director
$19.8K
Hrs/Wk
9
Compensation
$19.8K
Related Orgs
$0
Other
$0
S Eugene Herritt
Director
$31.3K
Hrs/Wk
9
Compensation
$21.3K
Related Orgs
$10K
Other
$0
William French
Director
$7,150
Hrs/Wk
9
Compensation
$7,150
Related Orgs
$0
Other
$0