Delaware Electric Cooperative Inc
501(c)(12)
Strong reserves Growing revenue
Delaware Electric Cooperative Inc is a 501(c)(12) organization based in Greenwood, Delaware, registered in 1938, with $254,849,361 in FY2024 revenue.
14198 Sussex Hwy, Greenwood, DE, 19950 EIN 51-0011975 Since 1938
Revenue (FY2024)
$254.8M
▲ 3.9% vs prior year
Expenses (FY2024)
$233.8M
Net assets
$247.0M
Employees
194
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 Delaware Electric Cooperative Inc— 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 rating13 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 Delaware Electric Cooperative Inc: 13 mo reserves · +8% margin earns a A on this criterion. See the exact thresholds →
A+Governance25% of the rating6 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 Delaware Electric Cooperative Inc: 6 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 Delaware Electric Cooperative Inc: 4 of 5 disclosure signals earns a A on this criterion. See the exact thresholds →
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Mission
Safe and effective distribution of electricity to the members of dec
Contact & location
Financial trends
Revenue grew from $145.7M (FY2013) to $254.8M (FY2024) across 12 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $205.2MNet assets $247.0M
Operating margin
8.3%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$452.2M
Total liabilities
$205.2M
Net assets
$247.0M
Salaries & benefits
$26.5M
11% of expenses
Board members
11
11 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $254,849,361▲3.9% | $233,785,051▲1.0% | $247,003,973▲7.5% | $452,244,389▲4.5% | 990 |
| 2023 | $245,267,841▲8.1% | $231,540,918▲9.1% | $229,676,606▲8.9% | $432,972,404▲0.9% | 990 |
| 2022 | $226,822,126▲19.9% | $212,282,144▲16.7% | $210,845,552▲8.7% | $429,246,863▲9.3% | 990 |
| 2021 | $189,130,063▲0.5% | $181,830,032 | $194,036,752▲9.7% | $392,759,569▲8.8% | 990 |
| 2020 | $188,253,074▼0.5% | $181,762,662▲0.4% | $176,956,795▲5.8% | $361,052,083▲7.5% | 990 |
| 2019 | $189,153,342▲5.8% | $181,091,675▲5.0% | $167,193,302▲3.9% | $335,889,725▲3.7% | 990 |
| 2018 | $178,782,131▲9.1% | $172,438,903▲6.3% | $160,863,081▲0.8% | $323,949,838▲2.2% | 990 |
| 2017 | $163,930,075▼2.2% | $162,203,336▼2.4% | $159,597,246▲12.4% | $317,027,746▲3.0% | 990 |
| 2016 | $167,556,369▲2.5% | $166,248,486▲2.7% | $142,011,970▲5.1% | $307,886,217▲6.5% | 990 |
| 2015 | $163,545,089▲6.1% | $161,846,577▲6.1% | $135,062,180▲3.2% | $289,064,558▲2.9% | 990 |
| 2014 | $154,105,513▲5.8% | $152,583,057▲5.8% | $130,865,827▲4.0% | $281,037,965▲4.9% | 990 |
| 2013 | $145,698,274 | $144,154,424▲3.9% | $125,843,065▲6.8% | $267,915,582▲3.9% | 990 |
| 2012 | — | $138,761,434▼0.4% | $117,811,661 | $257,901,519▲7.1% | 990 |
| 2011 | — | $139,357,150▲5.3% | $117,760,690▲2.3% | $240,819,277▼0.2% | 990 |
| 2010 | — | $132,362,413 | $115,114,606 | $241,224,472 | 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: Robert Book — $504,180 (0.22% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Robert Book | President/ce | 55 | $504,180 |
| Dwayne Street | Coo | 55 | $369,749 |
| Jesse Spampinato | Vp Operation | 50 | $267,136 |
| Dawn R Smart | Vp Human Res | 50 | $263,509 |
| Kevin Yingling | Vp Member Se | 50 | $239,442 |
| Troy Dickerson | Vp Engineeri | 50 | $237,369 |
| Kyle Bouika | Vp Info Tech | 50 | $230,825 |
| Richard H Johnson | Serviceman | 64 | $215,192 |
| Bruce Campbell | Vp Finance | 50 | $213,888 |
| Christopher J Penuel | Serviceman | 60 | $197,195 |
| David C Shapley | Mgr of Renew | 40 | $185,678 |
| Benjamin Salisbury | Serviceman | 57 | $175,477 |
| Stephen Hearn | Manager of O | 50 | $163,715 |
| Patricia S Dorey | Chairperson | 25 | $39,175 |
| Laura T Phillips | Sec / Treas | 12 | $35,950 |
| Michael K Brown | Vice Chairma | 11 | $35,500 |
| Blaine M Daisey Sr | Director | 7 | $33,500 |
| William P Haughey Jr | Asst Sec/tre | 10 | $33,500 |
| Charles L Towles | Director | 7.5 | $30,500 |
| Thomas E Brown | Director | 9 | $27,500 |
Top vendors & contractors (FY2024)
| Contractor | Services | Paid |
|---|---|---|
| Utility Lines Construction Service | Line Maint. | $5,246,756 |
| Asplundh Tree Expert Inc | Tree Removal | $1,902,522 |
| Cooperative Building Solutions | Construction | $1,752,961 |
| Rock Creek Line Construction Inc | Line Maint. | $1,255,503 |
| Willow Construction LLC | Renovations | $744,677 |
Grants made · $414K in FY2024
8 grants totaling $414K in FY2024. All grants made by Delaware Electric Cooperative Inc →
| Recipient | Purpose | Amount |
|---|---|---|
| Sustainable Energy Utility Inc | Charitable | $200,000 |
| Delaware Hospice Inc | Charitable | $54,000 |
| Bayhealth Foundation | Charitable | $50,000 |
| Beebe Medical Center Inc | Charitable | $50,000 |
| Delaware Prosperity Partnership Inc | Charitable | $25,000 |
| Greenwood Volunteer Fire Company No 1 of Greenwood Delaware | Charitable | $20,000 |
| Vmdaec Education Scholarship Foundation | Charitable | $8,771 |
| De Vol Firefighters Association | Charitable | $6,000 |
Frequently asked questions
- Is Delaware Electric Cooperative Inc a legitimate nonprofit?
- Yes. Delaware Electric Cooperative Inc is a 501(c)(12) organization registered with the U.S. Internal Revenue Service under EIN 51-0011975, based in Greenwood, Delaware.
- What is Delaware Electric Cooperative Inc's EIN?
- Delaware Electric Cooperative Inc's Employer Identification Number (EIN) is 51-0011975.
- How much revenue does Delaware Electric Cooperative Inc report?
- Delaware Electric Cooperative Inc reported $254,849,361 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- How much does Delaware Electric Cooperative Inc's highest-paid employee make?
- The highest reported compensation on Delaware Electric Cooperative Inc's latest Form 990 is $504,180, paid to Robert Book (President/ce).
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Explore more
Data for Delaware Electric Cooperative Inc (EIN 51-0011975) 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.