Nonprofit · EIN 03-0164375
VERMONT ELECTRIC COOPERATIVE INC
Tax-exempt · JOHNSON, VT 05656
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2025 | 990 | $110,864,852 | $110,864,852 | $0 | $243,378,721 | $141,676,337 | $101,702,384 |
| December 31, 2024 | 990 | $103,906,082 | $103,906,082 | $0 | $233,604,394 | $136,320,920 | $97,283,474 |
| December 31, 2023 | 990 | $100,257,337 | $100,257,337 | $0 | $221,732,064 | $127,675,275 | $94,056,789 |
Financial details: 990 for the year ended December 31, 2025
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $104,067,654
- Investment income
- $6,797,198
- Net gain from sales of assets
- $33,478
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Benefits paid to members
- $5,293,949
- Compensation of officers, directors and key employees
- $708,146
- Other salaries and wages
- $10,219,324
- Salaries, compensation and benefits (total)
- $14,758,376
- Professional fundraising fees
- $0
- Legal fees
- $122,613
- Accounting fees
- $65,000
- Occupancy
- $140,796
- Travel
- $833,310
- Depreciation
- $6,847,416
Balance sheet and other
- Total assets, start of year
- $233,604,394
- Total assets, end of year
- $243,378,721
- Total liabilities, end of year
- $141,676,337
- Net assets, end of year
- $101,702,384
- Land, buildings and equipment
- $150,177,834
- Gross receipts
- $110,884,075
- Employees
- 119
- Year formed
- 1938
- State of legal domicile
- VT
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| REBECCA TOWNE | CEO Officer | 54 | $300,812 | $50,412 |
| PETER ROSSI | COO Officer | 50 | $208,268 | $53,456 |
| CAROLINE MASHIA | CFO Officer | 50 | $216,298 | $43,428 |
| CHAD LANOU | 1ST CLASS LI Highest-paid employee | 51 | $216,129 | $42,946 |
| CHRIS CONNELLEY | 1ST CLASS LI Highest-paid employee | 53 | $207,965 | $24,732 |
| ALAN ESPOSITO | 1ST CLASS LI Highest-paid employee | 51 | $209,680 | $13,762 |
| JOSHUA MCCOY | 1ST CLASS LI Highest-paid employee | 53 | $210,425 | $12,498 |
| TYLER YOUNG | 1ST CLASS LI Highest-paid employee | 50 | $191,541 | $13,169 |
| KEN HOEPPNER | DIRECTOR Trustee or director | 4 | $12,080 | $7 |
| CHARLIE VAN WINKLE | TREASURER Trustee or director, Officer | 8 | $11,105 | $16 |
| GEORGE LAGUE | DIRECTOR Trustee or director | 5 | $10,125 | $16 |
| PAUL LAMBERT | 1ST VICE PRE Trustee or director, Officer | 5 | $9,855 | $0 |
| RICH GOGGIN | PRESIDENT Trustee or director, Officer | 10 | $9,605 | $16 |
| JEFFERY WILSON | DIRECTOR Trustee or director | 5 | $9,555 | $16 |
| CAROL MARONI | 2ND VICE PRE Trustee or director, Officer | 6 | $8,750 | $16 |
5 more people on this return
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| MARK WOODWARD | DIRECTOR Trustee or director | 5 | $8,580 | $16 |
| BONNIE PRATT | DIRECTOR Trustee or director | 2 | $8,500 | $16 |
| JODY DUNKLEE | SECRETARY Trustee or director, Officer | 2.5 | $7,830 | $16 |
| THOMAS BAILEY | DIRECTOR Trustee or director | 3 | $7,150 | $665 |
| WILLIAM GILBERT | DIRECTOR Trustee or director | 5 | $7,625 | $0 |
990 for the year ended December 31, 2024: 20 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| REBECCA TOWNE | CEO Officer | 52 | $290,781 | $46,644 |
| MARK HINTON | 1ST CLASS LI Highest-paid employee | 60 | $256,022 | $51,734 |
| JESSEE SWEET | 1ST CLASS LI Highest-paid employee | 55 | $214,878 | $41,960 |
| CAROLINE MASHIA | CFO Officer | 50 | $207,227 | $44,520 |
| CHAD LANOU | 1ST CLASS LI Highest-paid employee | 54 | $221,112 | $30,458 |
| JOSHUA MCCOY | 1ST CLASS LI Highest-paid employee | 57 | $238,417 | $11,497 |
| PETER ROSSI | COO Officer | 50 | $197,906 | $48,569 |
| TRAVIS ELWOOD | 1ST CLASS LI Highest-paid employee | 52 | $220,595 | $14,428 |
| GEORGE LAGUE | DIRECTOR Trustee or director | 6 | $9,075 | $16 |
| PAUL LAMBERT | 1ST VICE PRE Trustee or director, Officer | 3 | $8,955 | $0 |
| KEN HOEPPNER | DIRECTOR Trustee or director | 4 | $8,105 | $7 |
| CAROL MARONI | 2ND VICE PRE Trustee or director, Officer | 3 | $7,830 | $16 |
| RICH GOGGIN | PRESIDENT Trustee or director, Officer | 6 | $7,175 | $16 |
| THOMAS BAILEY | DIRECTOR Trustee or director | 5 | $5,955 | $665 |
| CHARLIE VAN WINKLE | TREASURER Trustee or director | 8 | $6,230 | $16 |
| MARK WOODWARD | DIRECTOR Trustee or director | 6 | $5,525 | $16 |
| JODY DUNKLEE | SECRETARY Trustee or director, Officer | 3 | $5,430 | $16 |
| BONNIE PRATT | DIRECTOR Trustee or director | 2 | $5,100 | $16 |
| JEFFERY WILSON | DIRECTOR Trustee or director | 4 | $4,475 | $0 |
| DON WORTH | DIRECTOR Trustee or director | 3 | $2,875 | $15 |
990 for the year ended December 31, 2023: 20 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| REBECCA TOWNE | CEO Officer | 52 | $279,262 | $44,336 |
| MARK HINTON | 1ST CLASS LI Highest-paid employee | 57 | $241,944 | $48,879 |
| PETER ROSSI | COO Officer | 50 | $201,944 | $46,387 |
| CAROLINE MASHIA | CFO Officer | 50 | $199,206 | $46,192 |
| JESSEE SWEET | 1ST CLASS LI Highest-paid employee | 53 | $199,379 | $38,706 |
| JOSHUA MCCOY | 1ST CLASS LI Highest-paid employee | 56 | $226,051 | $10,454 |
| CHRISTOPHER CONNELLEY | 1ST CLASS LI Highest-paid employee | 54 | $204,730 | $20,619 |
| CHAD LANOU | 1ST CLASS LI Highest-paid employee | 52 | $197,661 | $23,061 |
| PAUL LAMBERT | 1ST VICE PRE Trustee or director, Officer | 2 | $8,710 | $0 |
| CAROL MARONI | 2ND VICE PRE Trustee or director, Officer | 4 | $7,480 | $16 |
| GEORGE LAGUE | DIRECTOR Trustee or director | 10 | $7,450 | $16 |
| THOMAS BAILEY | DIRECTOR Trustee or director | 3 | $5,450 | $665 |
| KEN HOEPPNER | DIRECTOR Trustee or director | 2 | $6,080 | $7 |
| CHARLIE VAN WINKLE | DIRECTOR Trustee or director | 6 | $6,005 | $16 |
| RICH GOGGIN | PRESIDENT Trustee or director, Officer | 4 | $5,900 | $16 |
| MARK WOODWARD | DIRECTOR Trustee or director | 5 | $5,830 | $16 |
| DON WORTH | DIRECTOR Trustee or director | 2 | $5,650 | $15 |
| JODY DUNKLEE | SECRETARY Trustee or director, Officer | 3.5 | $5,430 | $16 |
| BONNIE PRATT | DIRECTOR Trustee or director | 2 | $4,325 | $16 |
| JOHN WARD | TREASURER Trustee or director, Officer | 4 | $1,880 | $16 |
Address and contacts
- Address (IRS master file)
- 42 WESCOM RD, JOHNSON, VT 05656-9579
- Principal officer (990 for 2025)
- REBECCA TOWNE, 42 WESCOM ROAD, JOHNSON, VT 05656
- Signed the 990
- CAROLINE MASHIA, CFO
- Phone
- (802) 635-2331
- Website
- WWW.VERMONTELECTRIC.COOP
- Return prepared by
- KITTELL BRANAGAN & SARGENT
Mission
VERMONT ELECTRIC COOPERATIVE IS A MEMBER OWNED NOT-FOR-PROFIT WHOSE MISSION IS TO PROVIDE SAFE, AFFORDABLE, AND RELIABLE ENERGY SERVICES TO ITS MEMBERS.
Program accomplishments
- PROVIDING RELIABLE ELECTRIC SERVICE TO APPROXIMATELY 41,273 METERED ACCOUNTS, WITH SALES OF APPROXIMATELY 481,584 MWH'S.
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | 990 on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 03-0164375
- Tax-exempt status
- 501(c)(12): Benevolent life insurance association or mutual company
- Donations deductible
- No
- Exempt since
- 1940
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $243,378,721
- Income (IRS master file)
- $110,884,075
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2025 | $110,864,852 | $110,864,852 | $243,378,721 | IRS |
| 990 | December 2024 | $103,906,082 | $103,906,082 | $233,604,394 | IRS |
| 990 | December 2023 | $100,257,337 | $100,257,337 | $221,732,064 | XML |
| 990 | December 2022 | $91,765,977 | $91,765,977 | $211,565,134 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 03-0164375).
Questions about VERMONT ELECTRIC COOPERATIVE INC
- What is the EIN of VERMONT ELECTRIC COOPERATIVE INC?
- The employer identification number (EIN) of VERMONT ELECTRIC COOPERATIVE INC is 03-0164375.
- Is VERMONT ELECTRIC COOPERATIVE INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(12) since 1940.
- Are donations to VERMONT ELECTRIC COOPERATIVE INC tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does VERMONT ELECTRIC COOPERATIVE INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of VERMONT ELECTRIC COOPERATIVE INC due?
- The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did VERMONT ELECTRIC COOPERATIVE INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2025.
- Who is the principal officer of VERMONT ELECTRIC COOPERATIVE INC?
- The 990 for the year ended December 31, 2025 names REBECCA TOWNE.
- Who are the officers and directors of VERMONT ELECTRIC COOPERATIVE INC?
- The 990 for the year ended December 31, 2025 lists 20 people; 20 received compensation from the organization, the highest $300,812 (REBECCA TOWNE, CEO).
- How much revenue does VERMONT ELECTRIC COOPERATIVE INC have?
- On its 990 for the year ended December 31, 2025 it reported revenue of $110,864,852, expenses of $110,864,852 and total assets of $243,378,721 at year end.
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