Choptank Electric Corp
501(c)(12)
Strong reserves Growing revenue
Choptank Electric Corp is a 501(c)(12) organization based in Denton, Maryland, registered in 1941, with $181,987,587 in FY2024 revenue.
Po Box 430, Denton, MD, 21629 EIN 52-0271943 Since 1941
Revenue (FY2024)
$182.0M
▼ 0.8% vs prior year
Expenses (FY2024)
$166.6M
Net assets
$204.8M
Employees
189
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
A
—Program efficiency40% of the ratingNo expense breakdown in filings
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. Not scored for Choptank Electric Corp— this filing type doesn't report it, and the rating simply skips it (never counts it against the organization). See the exact thresholds →
AFinancial health25% of the rating15 mo reserves · +8% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For Choptank Electric Corp: 15 mo reserves · +8% margin earns a A on this criterion. See the exact thresholds →
AGovernance25% of the rating5 of 6 checks met
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. For Choptank Electric Corp: 5 of 6 checks met earns a A on this criterion. See the exact thresholds →
ATransparency10% of the rating4 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For Choptank Electric Corp: 4 of 5 disclosure signals earns a A on this criterion. See the exact thresholds →
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Mission
Choptank electric cooperative ("cec") exists to provide reliable and cost effective electricity that improves the quality of life for our member- owners. cec is committed to service excellence guided by the seven cooperative principles.
Contact & location
Financial trends
Revenue grew from $126.6M (FY2013) to $182.0M (FY2024) across 12 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $309.4MNet assets $204.8M
Operating margin
8.5%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$514.2M
Total liabilities
$309.4M
Net assets
$204.8M
Salaries & benefits
$21.4M
13% of expenses
Board members
10
10 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $181,987,587▼0.8% | $166,550,159▲3.9% | $204,791,128▲5.3% | $514,178,827▲0.6% | 990 |
| 2023 | $183,421,421▲11.5% | $160,337,675▼0.8% | $194,509,766▲1.3% | $511,081,877▲4.9% | 990 |
| 2022 | $164,513,922▲19.9% | $161,680,269▲17.5% | $192,007,756▲15.4% | $487,333,208▲12.7% | 990 |
| 2021 | $137,215,364▼0.1% | $137,631,953▲0.7% | $166,453,155▼4.6% | $432,450,863▲1.7% | 990 |
| 2020 | $137,390,491▼8.2% | $136,653,768▼8.2% | $174,549,752▲2.4% | $425,098,589▲1.5% | 990 |
| 2019 | $149,707,367▲0.2% | $148,797,799▲0.4% | $170,475,407▲9.3% | $418,966,377▲1.9% | 990 |
| 2018 | $149,387,265▲17.6% | $148,262,971▲18.0% | $155,926,318▲7.0% | $411,092,213▲2.6% | 990 |
| 2017 | $126,994,626▼6.3% | $125,617,863▼5.4% | $145,705,103▲15.3% | $400,688,924▲6.4% | 990 |
| 2016 | $135,505,036▼4.5% | $132,830,201▼5.9% | $126,396,858▲5.1% | $376,586,136▲3.3% | 990 |
| 2015 | $141,880,587▲10.9% | $141,106,305▲11.1% | $120,241,385▲3.3% | $364,408,512▲5.3% | 990 |
| 2014 | $127,897,729▲1.0% | $127,014,064▲2.4% | $116,417,517▼1.7% | $346,042,062▲2.4% | 990 |
| 2013 | $126,628,452 | $124,093,778▲1.1% | $118,386,702▲8.0% | $337,893,303▲1.5% | 990 |
| 2012 | — | $122,793,502▼4.7% | $109,651,612▲2.3% | $332,807,877▲3.2% | 990 |
| 2011 | — | $128,914,918▲7.5% | $107,137,997▲7.2% | $322,559,036▲2.4% | 990 |
| 2010 | — | $119,959,490 | $99,946,602 | $314,932,883 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Leadership & compensation (FY2024)
Highest-paid: Micheal E Malandro — $709,044 (0.43% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Micheal E Malandro | President & | 40 | $709,044 |
| Paula J Bishop | Vp H.r. | 40 | $224,295 |
| Lance Lockerman | Vp Operation | 40 | $222,693 |
| Valerie Connelly | Vp Gov. Affa | 40 | $179,494 |
| Charles Gleaton Jr | Chief Engine | 40 | $173,140 |
| Nathan Schreppler | Chief Engine | 40 | $168,184 |
| Sarah M Dahl | Vp General C | 40 | $152,326 |
| Curtis Short | Mgr District | 40 | $151,228 |
| Lisa Desantis | Vp & Cfo | 40 | $138,469 |
| Shawn Sparks | Mgr Operatio | 40 | $132,897 |
| Leroy Sverduk | Vp Engineeri | 40 | $119,042 |
| Timothy Mcgaha | Vp Tech Serv | 40 | $88,689 |
| Donna R West | Director | 8.21 | $34,400 |
| Jeffrey D Rathell Sr | Director | 6.4 | $27,300 |
| Craig N Mathies | Director | 5.2 | $26,800 |
| Douglas D Scott | Chairman | 3.66 | $24,700 |
| Amy I Brandt | Director | 3.67 | $22,000 |
| John J Burke | Treasurer | 3.69 | $21,450 |
| Robert B Thompson | Director | 4.88 | $20,500 |
| Matthew Holloway | Secretary | 3.34 | $19,500 |
Top vendors & contractors (FY2024)
| Contractor | Services | Paid |
|---|---|---|
| Utility Lines Construction | Line Const. | $6,336,175 |
| Asplundh Tree Experts | Row Clearing | $4,452,834 |
| Tuckahoe Underground | Line Const. | $2,981,156 |
| Danella Line Services of Delaware I | Line Const. | $2,921,655 |
| Rock Creek Construction | Line Const. | $2,790,753 |
Frequently asked questions
- Is Choptank Electric Corp a legitimate nonprofit?
- Yes. Choptank Electric Corp is a 501(c)(12) organization registered with the U.S. Internal Revenue Service under EIN 52-0271943, based in Denton, Maryland.
- What is Choptank Electric Corp's EIN?
- Choptank Electric Corp's Employer Identification Number (EIN) is 52-0271943.
- How much revenue does Choptank Electric Corp report?
- Choptank Electric Corp reported $181,987,587 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- How much does Choptank Electric Corp's highest-paid employee make?
- The highest reported compensation on Choptank Electric Corp's latest Form 990 is $709,044, paid to Micheal E Malandro (President &).
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Explore more
Data for Choptank Electric Corp (EIN 52-0271943) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.