Old Dominion Electric Cooperative is a 501(c)(12) organization based in Glen Allen, Virginia, registered in 1971, with $1,135,612,072 in FY2024 revenue. CharityIndex grades it A.
Revenue (FY2024)
$1.1B
▲ 4.0% vs prior year
Expenses (FY2024)
$1.1B
Net assets
$500.4M
Employees
151
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 Old Dominion Electric Cooperative— this filing type doesn't report it, and the rating simply skips it (never counts it against the organization). See the exact thresholds →
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 Old Dominion Electric Cooperative: 5 mo reserves · +0% margin earns a A on this criterion. See the exact thresholds →
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 Old Dominion Electric Cooperative: 6 of 6 checks met earns a A+ on this criterion. See the exact thresholds →
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 Old Dominion Electric Cooperative: 3 of 5 disclosure signals earns a B on this criterion. See the exact thresholds →
Show this grade on your website
A live seal — it updates automatically when the grade changes and links donors to this verified profile.
Provide wholesale power to member cooperatives
Revenue grew from $821.0M (FY2020) to $1.1B (FY2024) across 5 reported years.
Financial snapshot
Operating margin
0.5%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$2.2B
Total liabilities
$1.7B
Net assets
$500.4M
Salaries & benefits
$22.6M
2% of expenses
Board members
21
21 independent
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $1,135,612,072▲4.0% | $1,130,136,645▲4.1% | $500,406,944▲2.4% | $2,157,905,640▼3.0% | 990 |
| 2023 | $1,091,559,152▲7.8% | $1,086,139,052▲7.8% | $488,635,406▲2.6% | $2,225,303,668▲1.2% | 990 |
| 2022 | $1,012,166,528▲26.3% | $1,007,139,251▲26.5% | $476,082,441▲2.4% | $2,198,477,737▲1.4% | 990 |
| 2021 | $801,442,287▼2.4% | $796,453,743▼2.4% | $464,776,958▲2.5% | $2,169,039,010▲5.2% | 990 |
| 2020 | $820,958,390 | $815,907,591 | $453,470,118 | $2,061,730,407 | 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.
Highest-paid: John C Lee Jr — $1,575,643 (0.14% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| John C Lee Jr | President & Ceo | 40 | $1,575,643 |
| Bryan S Rogers | Sr. Vp & Cfo | 40 | $536,450 |
| Kirk D Johnson | Sr Vp Member Engagement-ended 11/24 | 40 | $501,350 |
| Christopher F Cosby | Chief Operating Officer | 40 | $488,647 |
| John M Robb | Svp Chief Legal Officer | 40 | $350,411 |
| Daniel B Klose | Vp Power Supply | 40 | $280,345 |
| Michael C Wise | Sr. Vp Power Supply | 40 | $269,021 |
| Wiliam J Pezalla | Vp Regulatory Affairs | 40 | $242,932 |
| Lynn A Maloney | Vp Investor Relations | 40 | $242,328 |
| Kevin C Miller | Vp Engineering | 40 | $240,801 |
| Ruchira R Lalwaney | Vp It | 40 | $239,137 |
| Paul H Brown | Board Member | 9 | $52,750 |
| Michael K Brown | Board Member | 6 | $52,500 |
| John J Burke Jr | Board Member | 6 | $51,800 |
| Keith L Swisher | Board Member | 6 | $51,800 |
| Suzanne S Obenshain | Board Member | 6 | $51,450 |
| Chad N Fowler | Board Member | 6 | $51,100 |
| E Garrison Drummond | Board Member | 6 | $50,750 |
| Jesse R Thomas | Board Member | 6 | $50,400 |
| Hunter R Greenlaw Jr | Board Member - Ended 9/15/24 | 6 | $40,250 |
| Contractor | Services | Paid |
|---|---|---|
| Mitsubishi Power Americas Inc | Power Plant Equipment Repair | $8,951,262 |
| Ge Vernova International LLC | Power Plant Equipment Installation | $7,100,918 |
| Md&a-mechanical Dynamics & Analysis | Engineering Services | $2,769,431 |
| Aces Power Marketing | Energy Management | $2,630,513 |
| John C Lee Jr | Management Consulting (president & Ceo) | $1,575,643 |
8 grants totaling $72K in FY2024. All grants made by Old Dominion Electric Cooperative →
| Recipient | Purpose | Amount |
|---|---|---|
| Habitat For Humanity International Inc | General support | $20,000 |
| Boys & Girls Club of Cecil County | General support | $10,000 |
| Friends Foundation of the Cecil County Public Library Inc | General support | $8,500 |
| Community Arts Center Foundation | General support | $7,500 |
| Youth Empowerment Source Inc | General support | $7,500 |
| Louisa County High School | Scholarships & equpment | $7,250 |
| The Leukemia & Lymphoma Society | General support | $6,000 |
| Southern Virginia Higher Education Foundation Inc | General support | $5,500 |
Explore more
Data for Old Dominion Electric Cooperative (EIN 23-7048405) 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.