2025-05-14T12:38:14-04:00 2024-12-31 541320089 ADAMS JENKINS & CHEATHAM 231 WYLDEROSE DR MIDLOTHIAN VA 23113 990 2024-01-01 510011975 DELAWARE ELECTRIC COOPERATIVE INC DELA 3023490713 14198 SUSSEX HIGHWAY GREENWOOD DE 19950 BRUCE CAMPBELL VP FINANCE 3023490713 2025-05-15 true false G STEVEN GILLIAM CPA P00348264 8043231313 2025-05-14 2024 2025-03-06 01:10:19Z ROBERT BOOK 14198 SUSSEX HIGHWAY GREENWOOD DE 19950 254890859 false X WWW.DELAWARE.COOP X 1936 DE SAFE AND EFFECTIVE DISTRIBUTION OF ELECTRICITY TO THE MEMBERS OF DEC 11 11 194 0 0 243037777 252503894 941078 1076932 1288986 1268535 245267841 254849361 131000 413771 25682058 28747654 23582717 26485595 0 0 182145143 178138031 231540918 233785051 13726923 21064310 432972404 452244389 203295798 205240416 229676606 247003973 SAFE AND EFFECTIVE DISTRIBUTION OF ELECTRICITY TO THE MEMBERS OF DEC false false SAFE AND EFFECTIVE DELIVERY OF ELECTRICITY TO THE MEMBERS OF DEC. THE THREE LARGEST PROGRAM SERVICES, AS MEASURED BY EXPENSES, ARE AS FOLLOWS: COST OF POWER 142,463,994 BENEFITS PAID TO OR FOR MEMBERS 28,747,654 OTHER SALARIES AND WAGES 19,499,619 false false false false false false false false false true false true false true true true false false false false false false false false false false true false true false false false false false false false false false false false false false false true 166 0 true 194 true false false false false false 229625400 24007059 false false false X 11 11 false false true false true true true true true false false true true true true true true true true false X DELAWARE ELECTRIC COOPERATIVE 3023490713 14198 SUSSEX HWY GREENWOOD DE 199500600 ROBERT BOOK PRESIDENT/CE 55.00 X 504180 0 64870 DWAYNE STREET COO 55.00 X 369749 0 69504 JESSE SPAMPINATO VP OPERATION 50.00 X 267136 0 52251 DAWN R SMART VP HUMAN RES 50.00 X 263509 0 54387 TROY DICKERSON VP ENGINEERI 50.00 X 237369 0 60938 KEVIN YINGLING VP MEMBER SE 50.00 X 239442 0 43038 KYLE BOUIKA VP INFO TECH 50.00 X 230825 0 49599 BRUCE CAMPBELL VP FINANCE 50.00 X 213888 0 54793 RICHARD H JOHNSON SERVICEMAN 64.00 X 215192 0 35315 DAVID C SHAPLEY MGR OF RENEW 40.00 X 185678 0 52576 CHRISTOPHER J PENUEL SERVICEMAN 60.00 X 197195 0 35962 STEPHEN HEARN MANAGER OF O 50.00 X 163715 0 38053 BENJAMIN SALISBURY SERVICEMAN 57.00 X 175477 0 25238 PATRICIA S DOREY CHAIRPERSON 25.00 X X 39175 0 0 LAURA T PHILLIPS SEC / TREAS 12.00 X X 35950 0 0 MICHAEL K BROWN VICE CHAIRMA 11.00 X X 35500 0 0 WILLIAM P HAUGHEY JR ASST SEC/TRE 10.00 X X 33500 0 0 BLAINE M DAISEY SR DIRECTOR 7.00 X 33500 0 0 CHARLES L TOWLES DIRECTOR 7.50 X 30500 0 0 THOMAS E BROWN DIRECTOR 9.00 X 27500 0 0 BRUCE R WALTON DIRECTOR 10.00 X 27000 0 0 MARK ABBOTT DIRECTOR 10.00 X 25000 0 0 HUNTER EMORY DIRECTOR 6.00 X 17500 0 0 JEFFREY CHORMAN DIRECTOR 13.00 X 7500 0 0 WILLIAM J WELLS FORMER DIREC 1.50 X 4500 0 0 3580480 636524 66 false true false UTILITY LINES CONSTRUCTION SERVICE PO BOX 827464 PHILADELPHIA PA 191827464 LINE MAINT. 5246756 ASPLUNDH TREE EXPERT INC PO BOX 827464 PHILADELPHIA PA 191827464 TREE REMOVAL 1902522 COOPERATIVE BUILDING SOLUTIONS PO BOX 790379 ST LOUIS MO 63179 CONSTRUCTION 1752961 ROCK CREEK LINE CONSTRUCTION INC PO BOX 482 GREENSBORO MD 21639 LINE MAINT. 1255503 WILLOW CONSTRUCTION LLC 8649 COMMERCE DR EASTON MD 21601 RENOVATIONS 744677 16 SALE AND DIST. OF ELECT. 221000 229562875 229562875 CONT. IN AID OF CONST. 221000 22584700 22584700 PATRONAGE CAPITAL - REC 221000 303929 303929 SURGE PROTECTOR PROGRAM 221000 52390 52390 252503894 1079771 1079771 1258384 1258384 1258384 1258384 38659 41498 -2839 -2839 -2839 OTHER INCOME 221000 10151 10151 10151 254849361 252514045 2335316 X 413771 28747654 3092604 19499619 1966187 181128 1746057 399665 1796485 775527 5202483 14208405 COST OF POWER 142463994 DISTRIBUTION MAINTENANCE 7804557 ADMIN AND GENERAL 7384924 DISTRIBUTION OPERATION 3945379 -5843388 233785051 0 0 0 5219079 4475285 7156000 7190000 27741041 29829426 12451815 12420521 1858715 1097177 535904414 220083721 299112011 315820693 2300788 2300788 77132955 79110499 432972404 452244389 19174606 21497138 153501679 146896565 30619513 36846713 203295798 205240416 X 229676606 247003973 229676606 247003973 432972404 452244389 X 21064310 -3736943 X false true X true false 6699099 6699099 529205315 220083721 309121594 315820693 PATRONAGE CAPITAL CERTIFICATES 79062233 C OTHER 41146 C VA MD DE ASSOCIATION BUILDING 7120 C 79110499 DEFERRED CREDITS 19810449 ACC. OPER. PROV/ASSET RETIRE OBLIGAT 9949458 OTHER ACCRUED LIABILITIES 5277225 CUSTOMER DEPOSITS 1809581 36846713 X 234236657 234236657 20612704 20612704 254849361 204623078 204623078 29161973 29161973 233785051 SCHEDULE D, PAGE 3, PART X THE COOPERATIVE FOLLOWS THE GUIDANCE FOR "UNCERTAIN TAX POSITIONS" IN ACCORDANCE WITH ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA. THE COOPERATIVE HAS DETERMINED THAT IT IS MORE LIKELY THAN NOT THAT ITS TAX POSITIONS WILL BE SUSTAINED UPON EXAMINATION BY THE INTERNAL REVENUE SERVICE. SCHEDULE D, PAGE 4, PART XI, LINE 4B CONTRIBUTIONS IN AID OF CONSTRUCTION 22,584,700 PATRONAGE ALLOCATIONS -1,972,544 OTHER RELATED INCOME 548 SCHEDULE D, PAGE 4, PART XII, LINE 4B PATRONAGE DIVIDENDS 28,747,654 GRANTS 413,771 OTHER RELATED INCOME 548 false BAY HEALTH FOUNDATION 640 S STATE STREET DOVER DE 19901 222559843 50000 FMV CHARITABLE BEEBE MEDICAL FOUNDATION 902 SAVANNAH ROAD LEWES DE 19958 510067938 50000 FMV CHARITABLE DE VOL FIREFIGHTERS ASSOCIATION 122 S BRADFORD STREET DOVER DE 19903 510016463 6000 FMV CHARITABLE DELAWARE HOSPICE 100 PATRIOTS WAY MILFORD DE 19963 510258883 54000 FMV CHARITABLE DELAWARE PROSPERITY PARTNERSHIP 1007 N ORANGE STREET SUITE 731 WILMINGTON DE 19801 822881997 25000 FMV CHARITABLE DELAWARE SUSTAINABLE ENERGY UTILITY 500 W LOOCKERMAN ST STE 400 DOVER DE 19904 263963904 200000 FMV CHARITABLE GREENWOOD FIRE CO 12611 FIRE HALL AVE GREENWOOD DE 19950 510208938 20000 FMV CHARITABLE VMDAEC SCHOLARSHIP FOUNDATION 4201 DOMINION BLVD SUITE 101 GLEN ALLEN VA 23060 134260059 8771 FMV CHARITABLE X X X X X false true false ROBERT BOOK PRESIDENT/CEO 504180 41400 23470 569050 DWAYNE STREET COO 319749 50000 47485 22019 439253 JESSE SPAMPINATO VP OPERATIONS 252136 15000 30578 21673 319387 DAWN R SMART VP HUMAN RESOURCES 248509 15000 32672 21715 317896 TROY DICKERSON VP ENGINEERING 222369 15000 40093 20845 298307 KEVIN YINGLING VP MEMBER SERVICES 229442 10000 31877 11161 282480 KYLE BOUIKA VP INFO TECHNOLOGY 220825 10000 28501 21098 280424 BRUCE CAMPBELL VP FINANCE 203888 10000 33207 21586 268681 RICHARD H JOHNSON SERVICEMAN 215192 14653 20662 250507 DAVID C SHAPLEY MGR OF RENEWABLE SOL 185678 30642 21934 238254 CHRISTOPHER J PENUEL SERVICEMAN 197195 15300 20662 233157 STEPHEN HEARN MANAGER OF OPERATION 163715 27030 11023 201768 BENJAMIN SALISBURY SERVICEMAN 175477 14972 10266 200715 SCHEDULE J, PAGE 1, PART I, LINE 4 DWAYNE STREET 0 10,000 0 TROY DICKERSON 0 7,500 0 BRUCE CAMPBELL 0 1,116 0 FORM 990 FORM 990, PART IX, LINE 4 BENEFITS PAID TO OR FOR MEMBERS PATRONAGE DIVIDENDS ARE PAID TO MEMBERS' ACCOUNTS IN ACCORDANCE WITH THE PRE-EXISTING OBLIGATION IN DELAWARE ELECTRIC COOPERATIVE'S BY LAWS. THE CORPORATION IS OBLIGATED TO PAY BY CREDITS TO A CAPITAL ACCOUNT FOR EACH PATRON ALL SUCH AMOUNTS IN EXCESS OF OPERATING COSTS AND EXPENSES. IRS INSTRUCTIONS FOR LINE 4 CHANGED IN 2011 TO INCLUDE PATRONAGE DIVIDENDS PAID BY SECTION 501(C)(12) ORGANIZATIONS TO THEIR MEMBERS. ACCORDINGLY, THESE AMOUNTS ARE NOW REPORTED ON LINE 4. FORM 990, PAGE 6, PART VI, LINE 4 THE BYLAW'S WERE CHANGED AS OF 08/13/2024. THE NON-OPERATING MARGINS THAT INCLUDE NON-OPERATING INTEREST AND NON-OPERATING OTHER INCOME ARE NOW RETAINED AT THE CO-OP LEVEL. THE GENERAL CAPTIAL CREDITS AND PATRONAGE DIVIDENDS WILL STILL BE ALLOCATED TO MEMBERS. FORM 990, PAGE 6, PART VI, LINE 6 DELAWARE ELECTRIC COOPERATIVE IS AN ELECTRIC MEMBERSHIP CORPORATION THAT DELIVERS ELECTRICITY TO THE MEMBERS OF THE COOPERATIVE. THE MEMBERS ELECT THE BOARD OF DIRECTORS, WHICH IS THE GOVERNING BODY OF THE COOPERATIVE. FORM 990, PAGE 6, PART VI, LINE 7A MEMBERS OF THE GOVERNING BOARD ARE ELECTED BY THE MEMBERSHIP AT THE ANNUAL MEMBERSHIP MEETING AS PROVIDED FOR IN THE BYLAWS. FORM 990, PAGE 6, PART VI, LINE 7B CERTAIN DECISIONS OF THE GOVERNING BOARD ARE SUBJECT TO APPROVAL BY THE MEMBERS AS PROVIDED FOR IN THE BYLAWS. FORM 990, PAGE 6, PART VI, LINE 11B 990 IS REVIEWED WITH THE BOARD OF DIRECTORS. FORM 990, PAGE 6, PART VI, LINE 12C ANYONE THAT HAS A CONFLICT OF INTEREST WILL EXCUSE THEMSELVES FROM DISCUSSIONS OR VOTING ON SUBJECT MATTER WHERE A POSSIBLE CONFLICT EXISTS. FORM 990, PAGE 6, PART VI, LINE 15A THE BOARD OF DIRECTORS APPROVE THE COMPENSATION LEVELS FOR THE CEO. THE COOPERATIVE, EACH YEAR, OBTAINS AN ANNUAL SALARY SURVEY COMPARISON FROM OUTSIDE CONSULTANTS, AND OBTAINS A SALARY SURVEY FOR PEER ELECTRIC COOPERATIVES IN THE REGION. FORM 990, PAGE 6, PART VI, LINE 15B THE BOARD OF DIRECTORS APPROVE THE COMPENSATION LEVELS FOR THE COOPERATIVE MANAGEMENT. THE COOPERATIVE, EACH YEAR, OBTAINS AN ANNUAL SALARY SURVEY COMPARISON FROM OUTSIDE CONSULTANTS, AND OBTAINS A SALARY SURVEY FOR PEER ELECTRIC COOPERATIVES IN THE REGION. FORM 990, PAGE 6, PART VI, LINE 19 ANNUAL REPORTS ARE PRINTED EACH YEAR FOR THE PRIOR PERIOD AND PROVIDED AT THE ANNUAL MEETING OF MEMBERS, STOCKED IN THE COOPERATIVE LOBBY AREA ACCESSIBLE BY THE MEMBERS, AND PUBLISHED ON COOPERATIVE WEB SITE. BYLAWS ARE PRINTED ON AN AS NEEDED BASIS, EITHER WHEN CHANGES MAY OCCUR OR REPLENISHMENT IS NECESSARY. ALL NEW MEMBERS RECEIVE A COPY OF THE COOPERATIVE BYLAWS, AND BYLAWS ARE ALSO POSTED ON THE COOPERATIVE WEB SITE. FORM 990, PART XI, LINE 9 PATRONAGE DIV PAID TO MEMBERS NOT EXP PER GAAP 28,747,654 NON-CASH PATRONAGE ALLOCATIONS NOT REV PER IRS 1,972,544 NET CHANGE IN MEMBERSHIPS 70,685 GRANTS 413,771 CONTRIBUTIONS IN AID OF CONST NOT REV PER GAAP -22,584,700 NET RETIREMENT OF CAPITAL CREDITS -11,934,020 OTHER COMPREHENSIVE LOSS -422,877 TOTAL -3,736,943