2023-07-01T10:25:45-05:00 2022-12-31 821349697 Dennis G Koch & Associates LLC PO Box 1007 Quincy IL 623061007 990 2022-01-01 370147965 Adams Electric Cooperative ADAM 2175937701 PO Box 247 Camp Point IL 623200247 JAMES THOMPSON General Manager 2175937701 2023-05-19 1 JAMES THOMPSON XXX-XX-XXXX 0 Dennis G Koch P01210686 2172248484 2023-05-19 X 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z James Thompson PO Box 247 Camp Point IL 623200247 26550065 0 X http://www.adamselectric.coop/ X 1938 IL Provide electric service to over 8,900 members on a cooperative basis 9 9 44 0 0 0 0 0 24922785 26505647 38047 44418 0 0 24960832 26550065 0 0 1803893 2005592 491111 427802 0 0 0 22665828 24116671 24960832 26550065 0 0 61998273 65386496 35865355 37673627 26132918 27712869 To provide electric energy to our members on a cooperative basis 0 0 26550065 26550065 Provide electric energy to cooperative members 26550065 0 0 0 0 0 0 0 0 0 1 1 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 31 0 1 44 1 0 0 0 0 0 26052068 497997 0 0 0 X 9 9 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X X The Organization 2175937701 PO Box 247 Camp Point IL 623200247 James Thompson General Manager 43.00 X 233312 0 86689 Steven Jennings Manager of Finance 49.00 X 124105 0 74047 Tim Brecht Mgr Eng & Ops 42.00 X 116499 0 79944 Austin Aschemann Lineman 45.00 X 115179 0 27695 Logan Schutte Lineman 44.00 X 114942 0 23535 Nathan Smith Line Foreman 43.00 X 114350 0 20878 Chad Reische Line Foreman 40.00 X 110759 0 43789 Thomas Travis Treasurer 6.00 X X 4200 0 0 Laura Meyer Vice-President 4.00 X X 3600 0 0 Rebecca Barlow President 3.00 X X 3400 0 0 Kristina Farwell Secretary 3.00 X X 3200 0 0 Eric Ewing Director 4.00 X 3200 0 0 Rex Niekamp Director 4.00 X 2850 0 0 Brent Clair Director 5.00 X 2400 0 0 Glen Koch Director 3.00 X 2400 0 0 James Ward Director 4.00 X 2400 0 0 956796 0 356577 14 0 1 0 Grizzly Tree & Vegetation Control 2013 N Illinois St Camp Point IL 62320 ROW Clearing 339403 Sellenriek Energy LLC PO Box 237 Jonesburg MO 63351 Line Construction 284021 2 Sales of Energy 221000 25120223 25120223 Capital Credits 221000 1173689 1173689 Other Electric Revenues 221000 173796 173796 Other 221000 37939 37939 26505647 44418 44418 26550065 26550065 0 0 X 2005592 2005592 427802 427802 1334560 1334560 1807726 1807726 Purchased Power 16269371 16269371 Distribution Expense 2545128 2545128 Administrative 1056204 1056204 Customer Accounts & Ser 738469 738469 365213 365213 26550065 26550065 0 0 390962 92179 360084 361635 1980594 2690208 156134 184298 1147092 1492127 112971 180419 70422004 23802722 44528098 46619282 13322338 13766348 61998273 65386496 2184945 2777804 834839 615150 32146893 33753605 698678 527068 35865355 37673627 X 177990 179465 0 0 25954928 27533404 26132918 27712869 61998273 65386496 X 0 1579951 X 0 1 X 1 0 89075 89075 1903534 1384085 519449 68429395 22418637 46010758 46619282 Patronage - Prairie Power 10652982 C Patronage - NRUCFC 798069 C Patronage - CoBank NA 477552 C Prairie Power -Equity 578150 C Federated Insurance 252214 C NRUCFC Capital Term Certs 819834 C Other Cooperatives 187547 C 13766348 Regulatory Credits 433014 Customer Deposits 94054 527068 26550065 0 26550065 0 26550065 24544473 0 24544473 2005592 2005592 26550065 Part XII, Line 4b - Other Adjustments: Allocation of margins to members X X X 0 0 0 James Thompson General Manager 221580 0 0 0 11732 0 76640 0 10049 0 320001 0 0 0 Steven Jennings Manager of Finance 121090 0 0 0 3015 0 63998 0 10049 0 198152 0 0 0 Tim Brecht Mgr Eng & Ops 114900 0 0 0 1599 0 54056 0 25888 0 196443 0 0 0 Chad Reische Line Foreman 110548 0 0 0 211 0 33740 0 10049 0 154548 0 0 0 Part I, Line 3 The Board of Directors review compensation, based on industry surveys and employee performance before approving executive compensation. A Adams Electric Cooperative CREBs 1 370147965 2009-08-04 1504080 Clean Renewable Energy Bonds used to construct a wind turbine 0 0 0 B Adams Electric Cooperative CREBs 2 370147965 2011-04-13 1750000 Clean Renewable Energy Bonds used to construct a wind turbine 0 0 0 A 94005 2010 0 0 0 0 B 125684 2011 0 0 0 0 A 0 0 0 0 0 0 0 B 0 0 0 0 0 0 0 A 0 0 0 0 0 0 0 0 0 B 0 0 0 0 0 0 0 0 0 A 0 B 0 Form 990, Part VI, Section A, line 6 Each member (customer) has an ownership interest in the cooperative through their interest in the Cooperative's patronage equity capital. Each member is entitled to a vote at the Cooperative's annual meeting. Form 990, Part VI, Section A, line 7a Directors are elected at-large by the membership at the annual meeting. Each director represents a district within the Cooperative and is elected for a three-year term. Form 990, Part VI, Section B, line 11b The Cooperative's Federal Form 990 was distributed to the Board of Directors for their review. Form 990, Part VI, Section B, line 12c The Cooperative's Board and General Manager is responsible for monitoring compliance with the Cooperative's conflict of interest policy. Form 990, Part VI, Section B, line 15 The process for determining the CEO's compensation by the Adams Electric Cooperative board of directors included a review of the CEO's performance, comparisons of other CEO salaries in the state of Illinois and in the Midwest and an in depth deliberation before the ultimate decision was made setting the CEO's compensation. All of this is set forth in the minutes of the Adams Electric Cooperative's Board of Directors. Form 990, Part VI, Section C, line 19 All policies and governing documents are available for public inspection by contacting the general manager. The Cooperative's governing documents are available to each member on the Cooperative's website. Form 990, Part IX, Line 4 This amount represents the patronage margins allocated to members net of capital credits retired and paid to members for the year. Form 990, Part XI, line 9: Net increase in memberships 1,475. Margins allocated to members net of patronage retired 1,578,476.