2024-10-25T08:19:41-05:00 2023-12-31 821349697 Dennis G Koch & Associates LLC PO Box 1007 Quincy IL 623061007 990 2023-01-01 370147965 Adams Electric Cooperative ADAM 2175937701 PO Box 247 Camp Point IL 623200247 JAMES THOMPSON General Manager 2175937701 2024-10-25 1 0 Dennis G Koch P01210686 2172248484 2024-10-25 X 2023 2024-10-15 13:58:12Z James Thompson PO Box 247 Camp Point IL 623200247 28115186 0 X http://www.adamselectric.coop/ X 1938 IL Provide electric service to over 8,900 members on a cooperative basis 9 9 47 0 0 0 0 0 26505647 28075371 44418 39815 0 0 26550065 28115186 0 0 2005592 2002604 427802 621557 0 0 0 24116671 25491025 26550065 28115186 0 0 65386496 68418571 37673627 39137607 27712869 29280964 To provide electric energy to our members on a cooperative basis 0 0 28115186 28115186 Provide electric energy to cooperative members 28115186 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 47 1 0 0 0 0 0 27719016 396170 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 45.00 X 240839 0 77657 Austin Aschemann Lineman 45.00 X 121039 0 23052 Tim Brecht Mgr Eng & Ops 43.00 X 119140 0 76196 Chad Reische Design/Const Supervisor 41.00 X 118964 0 36646 Steven Jennings Manager of Finance 45.00 X 118767 0 15869 Garrett Kestner Journeyman Lineman 46.00 X 115747 0 22916 Gary Wagner Journeyman Lineman 44.00 X 114287 0 29284 Tara Neisen Mgr of Finance & Accounting 45.00 X 91963 0 44212 Rebecca Barlow President 4.00 X X 4600 0 0 Eric Ewing Director 3.00 X 4000 0 0 Brent Clair Director 4.00 X 4000 0 0 Thomas Travis Treasurer 8.00 X X 3600 0 0 Glen Koch Director 4.00 X 3550 0 0 Laura Meyer Vice-President 3.00 X X 3200 0 0 Kristina Farwell Secretary 3.00 X X 3200 0 0 Rex Niekamp Director 4.00 X 3100 0 0 James Ward Director 4.00 X 3000 0 0 1072996 0 325832 16 0 1 0 Sellenriek Energy LLC PO Box 237 Jonesburg MO 63351 Line Construction 675869 Grizzly Tree & Vegetation Control 2013 N Illinois St Camp Point IL 62320 ROW Clearing 229820 Osmose Utilities Service PO Box 736729 Dallas TX 75353 Pole Inspections 162198 3 Sales of Energy 221000 26789702 26789702 Capital Credits 221000 1180084 1180084 Other Electric Revenues 221000 105585 105585 28075371 39815 39815 28115186 28115186 0 0 X 2002604 2002604 621557 621557 1712649 1712649 1874855 1874855 Purchased Power 17182537 17182537 Distribution Expense 2530284 2530284 Administrative 974038 974038 Customer Accounts & Ser 739410 739410 477252 477252 28115186 28115186 0 0 92179 396905 361635 365335 2690208 2411131 184298 221575 1492127 1688013 180419 101147 73611557 24574421 46619282 49037136 13766348 14197329 65386496 68418571 2777804 2506052 615150 392800 33753605 35793669 527068 445086 37673627 39137607 X 179465 180730 0 0 27533404 29100234 27712869 29280964 65386496 68418571 X 0 1568095 X 0 1 X 1 0 72512 72512 1918865 1435369 483496 71620180 23139052 48481128 49037136 Patronage - Prairie Power 11582296 C Patronage - NRUCFC 791128 C Patronage - CoBank NA 533819 C Federated Insurance 260690 C NRUCFC Capital Term Certs 818575 C Other Cooperatives 210821 C 14197329 Regulatory Credits 347332 Customer Deposits 97754 445086 28115186 0 28115186 0 28115186 26112582 0 26112582 2002604 2002604 28115186 Part XII, Line 4b - Other Adjustments: Allocation of margins to members X X X 0 0 0 James Thompson General Manager 229033 0 0 0 11806 0 64622 0 13035 0 318496 0 0 0 Tim Brecht Mgr Eng & Ops 117449 0 0 0 1691 0 48108 0 28088 0 195336 0 0 0 Chad Reische Design/Const Supervisor 118732 0 0 0 232 0 24751 0 11895 0 155610 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 128345 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 1,265. Margins allocated to members net of patronage retired 1,566,830.