2024-05-02T14:02:58-04:00 2023-12-31 541320089 ADAMS JENKINS & CHEATHAM 231 WYLDEROSE DR MIDLOTHIAN VA 23113 990 2023-01-01 520271943 CHOPTANK ELECTRIC COOPERATIVE INC CHOP 4104790420 10384 RIVER ROAD DENTON MD 21629 MICHEAL E MALANDRO PRESIDENT & CEO 4104790420 2024-04-24 true MICHEAL MALANDRO XXX-XX-XXXX false G STEVEN GILLIAM CPA P00348264 8043231313 2024-04-30 2023 2023-04-26 12:10:37Z MICHEAL E MALANDRO 10384 RIVER ROAD DENTON MD 21629 183701889 false X WWW.CHOPTANKELECTRIC.COOP X 1938 MD CHOPTANK ELECTRIC COOPERATIVE ("CEC") EXISTS TO PROVIDE RELIABLE AND COST EFFECTIVE ELECTRICITY THAT IMPROVES THE QUALITY OF LIFE FOR OUR MEMBER- OWNERS. CEC IS COMMITTED TO SERVICE EXCELLENCE GUIDED BY THE SEVEN COOPERATIVE PRINCIPLES. 10 10 186 89888 65017 9227 0 164415602 182485696 279373 650242 -190280 285483 164513922 183421421 0 13312284 2966561 19359459 21641145 0 0 129008526 135729969 161680269 160337675 2833653 23083746 487333208 511081877 295325452 316572111 192007756 194509766 CEC EXISTS TO PROVIDE RELIABLE AND COST EFFECTIVE ELECTRICITY THAT IMPROVES THE QUALITY OF LIFE FOR OUR MEMBER-OWNERS. CEC IS COMMITTED TO SERVICE EXCELLENCE GUIDED BY THE SEVEN COOPERATIVE PRINCIPLES. false false CEC EXISTS TO PROVIDE RELIABLE AND COST EFFECTIVE ELECTRICITY THAT IMPROVES THE QUALITY OF LIFE FOR OUR MEMBER-OWNERS. CEC IS COMMITTED TO SERVICE EXCELLENCE GUIDED BY THE SEVEN COOPERATIVE PRINCIPLES. THE THREE LARGEST PROGRAM SERVICES, AS MEASURED BY EXPENSES, ARE AS FOLLOWS: COST OF POWER 97,735,440 DEPRECIATION 16,138,632 OTHER SALARIES AND WAGES 15,522,899 false false false false false false false false false true false true false true false false true false false false false false false false false false false false true false false false false false false false false false false false true true true false true 144 0 true 186 true true true false false false false 157734037 5958351 false false false X 10 10 false false false false true true true true true false false true true true true true false true true false X CHOPTANK ELECTRIC COOPERATIVE 4104790420 10384 RIVER ROAD DENTON MD 21629 MICHEAL E MALANDRO PRESIDENT & 40.00 14.00 X 664244 0 80061 TIMOTHY MCGAHA VP TECH SERV 40.00 25.00 X 285574 0 56118 LEROY SVERDUK VP ENGINEERI 40.00 19.00 X 274933 0 52334 LANCE LOCKERMAN VP OPERATION 40.00 2.00 X 226067 0 86053 LISA DESANTIS VP & CFO 40.00 16.00 X 238673 0 69272 PAULA J BISHOP VP H.R. 40.00 X 212326 0 65314 WILLIAM DAVIS SUP MEMBER S 40.00 1.00 X 237630 0 38523 VALERIE CONNELLY VP GOV. AFFA 40.00 9.00 X 230753 0 35959 SARAH M DAHL VP GENERAL C 40.00 10.00 X 215984 0 49899 SHAWN SPARKS MGR OPERATIO 40.00 22.00 X 176871 0 73424 CHARLES GLEATON JR CHIEF ENGINE 40.00 3.00 X 178025 0 43344 NATHAN SCHREPPLER CHIEF ENGINE 40.00 X 170540 0 31440 CURTIS SHORT MGR DISTRICT 40.00 X 139765 0 60113 DONNA R WEST DIRECTOR 10.10 1.00 X 34800 7800 0 JOHN J BURKE TREASURER 7.40 1.00 X X 28000 7800 0 CRAIG N MATHIES DIRECTOR 5.60 1.00 X 27200 7800 0 JEFFREY D RATHELL SR DIRECTOR 7.40 1.00 X 27200 7800 0 DOUGLAS D SCOTT CHAIRMAN 4.80 1.00 X X 27000 7800 0 AMY I BRANDT DIRECTOR 3.90 1.00 X 22200 7800 0 ROBERT E ARNOLD VICE CHAIRMA 4.90 1.00 X X 21750 7800 0 MATTHEW HOLLOWAY SECRETARY 4.30 1.00 X X 20400 7800 0 ROBERT B THOMPSON DIRECTOR 4.50 1.00 X 19400 7800 0 OLIN S DAVIS III DIRECTOR 4.60 1.00 X 13800 4550 0 KRISTEN NICKERSON DIRECTOR 4.10 1.00 X 10000 3250 0 3503135 78000 741854 69 false true false UTILITY LINES CONSTRUCTION PO BOX 827464 PHILADELPHIA PA 19182 LINE CONST. 11349792 ASPLUNDH TREE EXPERTS PO BOX 827464 PHILADELPHIA PA 19182 ROW CLEARING 4773444 HENKELS & MCCOY INC 2268 COLLECTION CENTER DRIVE CHICAGO IL 60617 LINE CONST. 4226237 ROCK CREEK CONSTRUCTION 12530 KNIFE BOX ROAD GREENSBORO MD 21639 LINE CONST. 3359478 MARYLAND BROADBAND COOPERATIVE INC 2129 A-NORTHWOOD DRIVE SALISBURY MD 21801 LINE CONST. 3284407 19 SALE AND DIST. OF ELECTR 221000 157734037 157734037 CONTRIB IN AID OF CONST 221000 24188569 24188569 PATRONAGE ALLOC RECEIVED 221000 563090 563090 182485696 620371 620371 15174 60155 7479 7695 60155 67850 7695 60155 174398 144527 29871 29871 29871 249651 128462 121189 61301 59888 NET REC SALES PROF (LOSS) 221000 66444 66444 FIBER LEASE 900099 30000 30000 96444 183421421 182621136 89888 710397 X 2966561 3095316 15522899 2664687 -1071473 1429716 14786 165200 3485051 363911 12169999 16138632 COST OF POWER 97735440 DIST. MAINTENANCE 6018469 TAXES 3014061 GENERAL AND ADMIN 2776502 -6152082 160337675 0 0 0 884010 295774 1462646 1431714 56636473 48107246 12237333 16950474 35053749 34157428 512781912 179888243 305571666 332893669 6534395 6317088 68769907 70651265 183029 277219 487333208 511081877 21821648 29234414 230853276 251686778 42650528 35650919 295325452 316572111 X 192007756 194509766 192007756 194509766 487333208 511081877 X 23083746 -20581736 X false true X true false 512781912 179888243 332893669 332893669 PATRONAGE CAPITAL 66467663 C CAPITAL TERM CERTIFICATES 3443602 C TEC TRADING, INC 740000 C 70651265 DEFERRED CREDITS 19468835 LINE OF CREDIT 6500000 OTHER ACCRUED LIABILITIES 6490823 CONSUMER DEPOSITS 1878089 BANK ADVANCES 967328 OTHER NON-CURRENT LIABILITIES 345844 35650919 X true true X X X X X X true false false MICHEAL E MALANDRO PRESIDENT & CEO 571600 92644 62700 17361 744305 TIMOTHY MCGAHA VP TECH SERVICES 226574 59000 40360 15758 341692 LEROY SVERDUK VP ENGINEERING 226433 48500 35090 17244 327267 LANCE LOCKERMAN VP OPERATIONS 216067 10000 70400 15653 312120 LISA DESANTIS VP & CFO 228673 10000 53514 15758 307945 PAULA J BISHOP VP H.R. 212326 48070 17244 277640 WILLIAM DAVIS SUP MEMBER SVCS 237630 26293 12230 276153 VALERIE CONNELLY VP GOV. AFFAIR / PR 205753 25000 30750 5209 266712 SARAH M DAHL VP GENERAL COUNSEL 205984 10000 32550 17349 265883 SHAWN SPARKS MGR OPERATIONS 176871 56063 17361 250295 CHARLES GLEATON JR CHIEF ENGINEER 178025 26100 17244 221369 NATHAN SCHREPPLER CHIEF ENGINEER 163540 7000 26231 5209 201980 CURTIS SHORT MGR DISTRICT OPS 139765 45424 14689 199878 SCHEDULE J, PAGE 1, PART I, LINE 1A HEALTH CLUB DUES: AS PART OF THE COOPERATIVE'S WELLNESS PROGRAM, THE COOPERATIVE REIMBURSES EMPLOYEES UP TO 25 PER MONTH TOWARDS THE COST OF A HEALTH CLUB MEMBERSHIP. 15 EMPLOYEES PARTICIPATED IN THIS PROGRAM IN 2023. SCHEDULE J, PAGE 1, PART I, LINE 4 WILLIAM DAVIS 160,000 0 0 FORM 990 FORM 990, PART IX, LINE 4 BENEFITS PAID TO OR FOR MEMBERS: FOR EACH COOPERATIVE SERVICE (OR GROUP OF COOPERATIVE SERVICES IF PERMITTED BY LAW) SUPPLIED FOR A FISCAL YEAR, CEC SHALL EQUITABLY ALLOCATE TO EACH PATRON, IN PROPORTION TO THE QUANTITY OR VALUE OF THE COOPERATIVE SERVICE(S) PATRONAGE BY THE PATRON DURING THE FISCAL YEAR, CEC'S OPERATING EARNINGS DURING THE FISCAL YEAR. "OPERATING EARNINGS" (ALSO KNOWN AS "PATRONAGE MARGIN") FOR A COOPERATIVE SERVICE MEANS THE AMOUNT BY WHICH CEC'S OPERATING REVENUES (ALSO KNOWN AS "PATRONAGE SOURCED REVENUES") FROM SUPPLYING CEC SERVICE(S) EXCEED CEC'S OPERATING EXPENSES, COSTS AND RESERVES PERMITTED BY LAW (ALSO KNOWN AS "PATRONAGE SOURCED EXPENSES") OF SUPPLYING CEC SERVICES(S). FORM 990 PART IX LINE 17 TRAVEL: TRAVEL COSTS INCLUDES THE EXPENSES OF PURCHASING, LEASING, OPERATING, AND REPAIRING ANY VEHICLES OWNED BY THE CORPORATION AND USED IN THE CORPORATION'S ACTIVITIES. TRAVEL COSTS ALSO INCLUDE TRANSPORTATION COSTS, MEALS AND LODGING, AND PER DIEM PAYMENTS. FORM 990, PAGE 6, PART VI, LINE 6 CHOPTANK ELECTRIC COOPERATIVE IS AN ELECTRIC COOPERATIVE THAT DELIVERS ELECTRICITY TO THE MEMBERS OF THE COOPERATIVE. THE MEMBERS ELECT THE BOARD OF DIRECTORS, WHICH IS THE GOVERNING BODY OF THE COOPERATIVE. EACH MEMBER HAS ONE VOTE IN EACH ELECTION OR QUESTION BROUGHT TO A VOTE OF THE MEMBERS. FORM 990, PAGE 6, PART VI, LINE 7A ALL MEMBERS OF CHOPTANK ELECTRIC COOPERATIVE RECEIVE ONE VOTE WITH RESPECT TO ELECTING EACH SEAT UP FOR ELECTION ON THE COOPERATIVE'S BOARD OF DIRECTORS ANNUALLY. FORM 990, PAGE 6, PART VI, LINE 7B CERTAIN DECISIONS OF THE GOVERNING BODY ARE SUBJECT TO APPROVAL BY THE MEMBERS AS PROVIDED FOR IN THE COOPERATIVE BYLAWS, INCLUDING ALL AMENDMENTS OF BYLAWS. FORM 990, PAGE 6, PART VI, LINE 11B THE FORM 990 IS INITIALLY COMPLETED BY THE COOPERATIVE'S CPA FIRM. THEREAFTER, A COPY IS PROVIDED TO THE COOPERATIVE'S MANAGEMENT AND GENERAL COUNSEL FOR REVIEW AND COMMENT, AND TO ALL BOARD MEMBERS PRIOR TO BEING FILED. FORM 990, PAGE 6, PART VI, LINE 12C CHOPTANK'S WRITTEN CONFLICT OF INTEREST POLICY REQUIRES EACH BOARD MEMBER AND THE CEO TO IMMEDIATELY REPORT TO BOARD COUNSEL AND TO SEEK HIS ADVICE ON HOW TO PROCEED UNDER THE CIRCUMSTANCES REGARDING ALL POTENTIAL, ACTUAL, OR APPEARANCES OF CONFLICTS OF INTEREST IN WHICH SUCH BOARD MEMBER OR CEO MAY BE INVOLVED. IT ALSO REQUIRES EACH OTHER OFFICER OR KEY EMPLOYEE TO IMMEDIATELY REPORT TO GENERAL COUNSEL AND TO SEEK HIS ADVICE ON HOW TO PROCEED UNDER THE CIRCUMSTANCES REGARDING ALL POTENTIAL, ACTUAL, OR APPEARANCES OF CONFLICTS OF INTEREST IN WHICH SUCH OTHER OFFICER OR EMPLOYEE MAY BE INVOLVED. ALL BOARD MEMBERS AND THE CEO ARE REQUIRED TO ANNUALLY SIGN AND FILE A REPORT WITH THE BOARD SHOWING ANY ACTUAL AND APPEARANCES OF CONFLICTS OF INTEREST FOR THE PAST YEAR, AND ALL OFFICERS AND KEY EMPLOYEES ARE REQUIRED TO ANNUALLY SIGN AND FILE A REPORT WITH THE CEO SHOWING ANY ACTUAL AND APPEARANCES OF CONFLICTS OF INTEREST FOR THE PAST YEAR. FORM 990, PAGE 6, PART VI, LINE 15A PERIODICALLY THE COOPERATIVE HAS AN OUTSIDE CONSULTANT REVIEW THE RANGE OF COMPENSATION AT THE COOPERATIVE COMPARED TO INDUSTRY RANGES OF COMPARABLE ELECTRIC COOPERATIVES. A NATIONAL TRADE ASSOCIATION PERIODICALLY PUBLISHES AN INDUSTRY SALARY SURVEY THAT IS ALSO USED AS A BENCHMARK FOR COMPENSATION IN ADDITION TO PERIODIC SURVEYS PERFORMED BY A REGIONAL TRADE ASSOCIATION. THE BOARD OF DIRECTORS PERIODICALLY REVIEWS AND DETERMINES THE COMPENSATION OF THE COOPERATIVE'S CEO. FORM 990, PAGE 6, PART VI, LINE 15B PERIODICALLY THE COOPERATIVE HAS AN OUTSIDE CONSULTANT REVIEW THE RANGE OF COMPENSATION AT THE COOPERATIVE COMPARED TO INDUSTRY RANGES. A NATIONAL TRADE ASSOCIATION PERIODICALLY PUBLISHES A SALARY SURVEY THAT IS ALSO USED AS A BENCHMARK FOR COMPENSATION. FORM 990, PAGE 6, PART VI, LINE 19 GOVERNING DOCUMENTS ARE AVAILABLE ON THE COOPERATIVE WEBSITE. THE 990 IS AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9 NON-CASH PATRONAGE ALLOCATIONS NOT REVENUE - IRS 1,913,543 PATRONAGE DIV PD TO MEMBERS' ACCTS NOT EXP - GAAP 2,966,561 OTHER COMPREHENSIVE INCOME 430,380 CONTRIBUTIONS IN AID OF CONST NOT REVENUE PER GAAP -24,188,569 EQUITY EARNINGS FROM SUB -1,217,306 NET RETIREMENT OF CAPITAL CREDITS -486,345 TOTAL -20,581,736 CHOPTANK ELECTRIC TRUST INC PO BOX 426 DENTON MD 21629 861072289 EDUCATION MD 501 C3 8 CHOPTANK CHOPTANK ELECTRIC COOOPERATIVE true CHOPTANK SERVICES CORPORATION PO BOX 426 DENTON MD 21629 521961362 HOLDING CO MD CHOPTANK C CORP -311289 6758253 1.00000 false CHOPTANK FIBER PO BOX 386 DENTON MD 21629 853432377 INTERNET MD CHOPTANK C CORP -906017 26194622 1.00000 false false false false true false false false false false true false true false false true false true true false CHOPTANK ELECTRIC TRUST INC P 63410 CASH PAID CHOPTANK ELECTRIC TRUST INC R 323995 CASH PAID CHOPTANK SERVICES CORPORATION L 11709 COST OF SVCS CHOPTANK SERVICES CORPORATION Q 16309 CASH RECEIVED CHOPTANK FIBER J 30000 COST OF SVCS CHOPTANK FIBER S 1269956 COST OF SVCS CHOPTANK FIBER R 1000000 INVESTMENT