Nonprofit · EIN 23-0329885
ADAMS ELECTRIC COOPERATIVE INC
Tax-exempt · GETTYSBURG, PA 17325
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2025 | 990 | $91,057,639 | $91,824,166 | -$766,527 | $265,520,173 | $152,051,684 | $113,468,489 |
| December 31, 2024 | 990 | $83,497,455 | $86,001,002 | -$2,503,547 | $256,336,330 | $148,688,670 | $107,647,660 |
| December 31, 2023 | 990 | $78,385,681 | $79,616,838 | -$1,231,157 | $244,017,697 | $143,105,012 | $100,912,685 |
Financial details: 990 for the year ended December 31, 2025
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $89,233,567
- Investment income
- $202,957
- Net rental income
- $1,146,598
- Net gain from sales of assets
- $63,443
- Other revenue
- $1,621,115
Expenses
- Grants and similar amounts paid
- $0
- Benefits paid to members
- $9,398,328
- Compensation of officers, directors and key employees
- $1,255,918
- Other salaries and wages
- $8,943,096
- Salaries, compensation and benefits (total)
- $13,330,981
- Professional fundraising fees
- $0
- Legal fees
- $242,996
- Travel
- $948,713
- Depreciation
- $7,794,372
Balance sheet and other
- Total assets, start of year
- $256,336,330
- Total assets, end of year
- $265,520,173
- Total liabilities, end of year
- $152,051,684
- Net assets, end of year
- $113,468,489
- Land, buildings and equipment
- $203,199,146
- Publicly traded securities
- $6,846,161
- Gross unrelated business income
- $5,393
- Gross receipts
- $91,073,418
- Employees
- 84
- Year formed
- 1941
- State of legal domicile
- PA
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 | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| STEVEN RASMUSSEN | CEO / GM Officer | 50 | $608,318 | $13,000 | $155,275 |
| MIKE FEATHERS | MANAGER OPER Highest-paid employee | 45 | $229,932 | $0 | $130,807 |
| JAMES CHIARUTTINI | MGR LEGAL SE Highest-paid employee | 60 | $238,627 | $0 | $75,561 |
| JEFFERY TURNER | MGR ENG/MECH Highest-paid employee | 50 | $230,503 | $0 | $79,664 |
| BRIAN SHEARER | SENR. STAFF Highest-paid employee | 45 | $179,984 | $0 | $112,775 |
| LISA WILLET | MGR HR Highest-paid employee | 45 | $213,440 | $0 | $77,743 |
| MICHAEL JOHNSON | MANAGER SAFE Officer | 50 | $206,871 | $0 | $75,505 |
| DALE E MYERS | PRESIDENT Trustee or director, Officer | 11 | $28,750 | $11,000 | $0 |
| GLENN E BANGE | SECRETARY Trustee or director, Officer | 11 | $21,100 | $13,000 | $3,500 |
| THOMAS J KNAUB | TREASURER Trustee or director, Officer | 11 | $23,550 | $11,000 | $0 |
| S EUGENE HERRITT | DIRECTOR Trustee or director | 9 | $22,100 | $11,000 | $0 |
| DAVID A FREY | VICE PRESIDE Trustee or director, Officer | 11 | $14,250 | $0 | $10,725 |
| NADINE M HUBNER | DIRECTOR Trustee or director | 9 | $23,800 | $0 | $0 |
| RAY SCHWARTZ | DIRECTOR Trustee or director | 9 | $21,850 | $0 | $0 |
| JAY HERMAN | DIRECTOR Trustee or director | 9 | $21,100 | $0 | $0 |
1 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| WILLIAM FRENCH | DIRECTOR Trustee or director | 9 | $19,225 |
990 for the year ended December 31, 2024: 17 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| STEVEN RASMUSSEN | CEO / GM Officer | 50 | $590,818 | $13,500 | $130,382 |
| MIKE FEATHERS | MANAGER OPER Highest-paid employee | 45 | $218,146 | $0 | $120,897 |
| JEFFERY TURNER | MGR ENG/MECH Highest-paid employee | 50 | $217,826 | $0 | $70,854 |
| JAMES CHIARUTTINI | MGR LEGAL SE Highest-paid employee | 60 | $223,347 | $0 | $64,012 |
| CHAD THOMAN | MGR ENG/ELEC Highest-paid employee | 50 | $222,967 | $0 | $47,482 |
| LISA WILLET | MGR HR Highest-paid employee | 45 | $199,783 | $0 | $69,278 |
| MICHAEL JOHNSON | MANAGER SAFE Officer | 50 | $194,506 | $0 | $65,057 |
| GLENN E BANGE | PRESIDENT Trustee or director, Officer | 15 | $28,900 | $11,500 | $2,000 |
| DALE E MYERS | SECRETARY Trustee or director, Officer | 11 | $27,725 | $8,667 | $0 |
| THOMAS J KNAUB | TREASURER Trustee or director, Officer | 11 | $25,200 | $10,000 | $0 |
| S EUGENE HERRITT | DIRECTOR Trustee or director | 9 | $21,250 | $10,000 | $0 |
| NADINE M HUBNER | VICE PRESIDE Trustee or director, Officer | 11 | $27,050 | $0 | $0 |
| DAVID A FREY | DIRECTOR Trustee or director | 9 | $15,950 | $0 | $8,350 |
| JAY HERMAN | DIRECTOR Trustee or director | 9 | $22,750 | $0 | $0 |
| RAY SCHWARTZ | DIRECTOR Trustee or director | 9 | $19,825 | $0 | $0 |
| JAY E GROVE | DIRECTOR Trustee or director | 9 | $9,025 | $0 | $0 |
| WILLIAM FRENCH | DIRECTOR Trustee or director | 9 | $7,150 | $0 | $0 |
990 for the year ended December 31, 2023: 16 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| STEVEN RASMUSSEN | CEO / GM Officer | 50 | $520,491 | $14,500 | $133,125 |
| MIKE FEATHERS | MANAGER OPER Highest-paid employee | 50 | $218,898 | $0 | $125,268 |
| JEFFERY TURNER | MGR ENG/MECH Highest-paid employee | 50 | $212,138 | $0 | $73,034 |
| JAMES CHIARUTTINI | MGR LEGAL SE Highest-paid employee | 50 | $211,222 | $0 | $62,430 |
| CHAD THOMAN | MGR ENG/ELEC Highest-paid employee | 50 | $223,764 | $0 | $48,687 |
| GORMAN GUY | LINE SUPERIN Highest-paid employee | 50 | $175,303 | $0 | $92,339 |
| MICHAEL JOHNSON | MANAGER SAFE Officer | 50 | $186,895 | $0 | $56,460 |
| GLENN E BANGE | PRESIDENT Trustee or director, Officer | 15 | $17,090 | $12,500 | $10,710 |
| DALE E MYERS | SECRETARY Trustee or director, Officer | 11 | $25,413 | $11,135 | $0 |
| THOMAS J KNAUB | TREASURER Trustee or director, Officer | 11 | $24,975 | $11,000 | $0 |
| S EUGENE HERRITT | DIRECTOR Trustee or director | 9 | $19,975 | $11,000 | $0 |
| NADINE M HUBNER | VICE PRESIDE Trustee or director, Officer | 11 | $24,775 | $0 | $0 |
| DAVID A FREY | DIRECTOR Trustee or director | 9 | $6,625 | $0 | $14,975 |
| RAY SCHWARTZ | DIRECTOR Trustee or director | 9 | $21,400 | $0 | $0 |
| JAY HERMAN | DIRECTOR Trustee or director | 9 | $21,000 | $0 | $0 |
| JAY E GROVE | DIRECTOR Trustee or director | 9 | $19,175 | $1,333 | $0 |
Address and contacts
- Address (IRS master file)
- 1338 BIGLERVILLE RD, GETTYSBURG, PA 17325-8018
- Principal officer (990 for 2025)
- THOMAS J KNAUB, 1338 BIGLERVILLE ROAD, GETTYSBURG, PA 173251055
- Signed the 990
- THOMAS J KNAUB, TREASURER
- Phone
- (717) 334-9211
- Website
- WWW.ADAMSEC.COOP
- Return prepared by
- ADAMS JENKINS & CHEATHAM
Mission
ADAMS ELECTRIC COOPERATIVE PROVIDES SAFE AND EFFECTIVE DISTRIBUTION OF ELECTRICITY TO OUR MEMBERS
Program accomplishments
- THE SALE AND DISTRIBUTION OF ELECTRICITY TO MEMBERS OF ADAMS ELECTRIC COOPERATIVE. THE THREE LARGEST PROGRAM SERVICES, AS MEASURED BY EXPENSES ARE AS FOLLOWS: COST OF POWER 48,873,761 BENEFITS PAID TO MEMBERS 9,398,328 SALARIES AND WAGES 8,943,096
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
- 23-0329885
- Tax-exempt status
- 501(c)(12): Benevolent life insurance association or mutual company
- Donations deductible
- No
- Exempt since
- 1942
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $265,520,173
- Income (IRS master file)
- $91,073,418
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2025 | $91,057,639 | $91,824,166 | $265,520,173 | XML |
| 990 | December 2024 | $83,497,455 | $86,001,002 | $256,336,330 | XML |
| 990 | December 2023 | $78,385,681 | $79,616,838 | $244,017,697 | XML |
| 990 | December 2022 | $72,052,590 | $75,140,826 | $231,077,495 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
| 990 | December 2017 | – | – | – | 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 23-0329885).
Questions about ADAMS ELECTRIC COOPERATIVE INC
- What is the EIN of ADAMS ELECTRIC COOPERATIVE INC?
- The employer identification number (EIN) of ADAMS ELECTRIC COOPERATIVE INC is 23-0329885.
- Is ADAMS ELECTRIC COOPERATIVE INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(12) since 1942.
- Are donations to ADAMS ELECTRIC COOPERATIVE INC tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does ADAMS 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 ADAMS 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 ADAMS 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 ADAMS ELECTRIC COOPERATIVE INC?
- The 990 for the year ended December 31, 2025 names THOMAS J KNAUB.
- Who are the officers and directors of ADAMS ELECTRIC COOPERATIVE INC?
- The 990 for the year ended December 31, 2025 lists 16 people; 16 received compensation from the organization, the highest $608,318 (STEVEN RASMUSSEN, CEO / GM).
- How much revenue does ADAMS ELECTRIC COOPERATIVE INC have?
- On its 990 for the year ended December 31, 2025 it reported revenue of $91,057,639, expenses of $91,824,166 and total assets of $265,520,173 at year end.
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