Civic Intelligence

Adams Electric Cooperative

990 • Fiscal year 2017 • EIN 37-0147965

Jan 01, 2017 to Dec 31, 2017 • Filed on Sep 03, 2018

Organization Profilewww.adamselectric.coop
PO Box 247Camp Point, IL 62320-0247

(217) 593-7701

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

76th percentile

0.62x

Higher debt load relative to assets than 76% of similar nonprofits.

2017 filings • 501(c)12 • $50M-$100M nonprofits • Source year 2017

Liabilities / Revenue

58th percentile

1.45x

Higher debt load relative to revenue than 58% of similar nonprofits.

2017 filings • 501(c)12 • $50M-$100M nonprofits • Source year 2017

Net Margin

83rd percentile

6.3%

Higher net margin than 83% of similar nonprofits.

2017 filings • 501(c)12 • $50M-$100M nonprofits • Source year 2017

Top Officer Pay

56th percentile

$257,748

Higher top officer pay than 56% of similar nonprofits.

Top officer pay equals 1.1% of source-year revenue.

2017 filings • 501(c)12 • $50M-$100M nonprofits • Source year 2017

Asset Growth

44th percentile

2.3%

Faster asset growth than 44% of similar nonprofits.

2017 filings • 501(c)12 • $50M-$100M nonprofits • Annualized from 2016 to 2017

Revenue Growth

47th percentile

1.9%

Faster revenue growth than 47% of similar nonprofits.

2017 filings • 501(c)12 • $50M-$100M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets76th percentile

Assets

Up

$55,079,271

Up $1,228,973 (+2.3%) from 2016

Net Assets

Up

$21,101,922

Up $1,485,205 (+7.6%) from 2016

Liabilities

Down

$33,977,349

Down $256,232 (-0.7%) from 2016

Revenue And Expenses
Liabilities / Revenue58th percentileNet Margin83rd percentile

Revenue

Up

$23,499,435

Up $433,507 (+1.9%) from 2016

Expenses

Up

$22,015,970

Up $213,308 (+1.0%) from 2016

Net Income

Up

$1,483,465

Up $220,199 (+17%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth44th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$80M$60M$40M$20M$0Assets 2010: $45,932,828Liabilities 2010: $31,848,928Net Assets 2010: $14,083,9002010Assets 2011: $49,307,584Liabilities 2011: $34,219,222Net Assets 2011: $15,088,3622011Assets 2012: $50,569,330Liabilities 2012: $35,359,268Net Assets 2012: $15,210,0622012Assets 2013: $52,221,337Liabilities 2013: $35,489,197Net Assets 2013: $16,732,1402013Assets 2014: $52,191,543Liabilities 2014: $35,012,999Net Assets 2014: $17,178,5442014Assets 2015: $53,115,401Liabilities 2015: $34,763,625Net Assets 2015: $18,351,7762015Assets 2016: $53,850,298Liabilities 2016: $34,233,581Net Assets 2016: $19,616,7172016Assets 2017: $55,079,271Liabilities 2017: $33,977,349Net Assets 2017: $21,101,9222017Assets 2018: $56,388,608Liabilities 2018: $34,530,735Net Assets 2018: $21,857,8732018Assets 2019: $58,009,563Liabilities 2019: $34,658,823Net Assets 2019: $23,350,7402019Assets 2020: $58,919,326Liabilities 2020: $34,176,022Net Assets 2020: $24,743,3042020Assets 2021: $61,998,273Liabilities 2021: $35,865,355Net Assets 2021: $26,132,9182021Assets 2022: $65,386,496Liabilities 2022: $37,673,627Net Assets 2022: $27,712,8692022Assets 2023: $68,418,571Liabilities 2023: $39,137,607Net Assets 2023: $29,280,9642023Assets 2024: $70,640,838Liabilities 2024: $39,686,041Net Assets 2024: $30,954,7972024

Highlighted filing

2017

Assets$55,079,271
Liabilities$33,977,349
Net Assets$21,101,922
Open 2017 Filing

Operations Trend

Revenue Growth47th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$30M$20M$10M$0Expenses 2010: $18,804,6032010Expenses 2011: $20,615,8482011Expenses 2012: $20,621,4792012Revenue 2013: $22,288,003Expenses 2013: $20,767,625Net Income 2013: $1,520,3782013Revenue 2014: $22,794,453Expenses 2014: $22,349,699Net Income 2014: $444,7542014Revenue 2015: $22,866,034Expenses 2015: $21,694,487Net Income 2015: $1,171,5472015Revenue 2016: $23,065,928Expenses 2016: $21,802,662Net Income 2016: $1,263,2662016Revenue 2017: $23,499,435Expenses 2017: $22,015,970Net Income 2017: $1,483,4652017Revenue 2018: $24,756,557Expenses 2018: $24,756,557Net Income 2018: $02018Revenue 2019: $25,451,083Expenses 2019: $25,451,083Net Income 2019: $02019Revenue 2020: $24,279,830Expenses 2020: $24,279,830Net Income 2020: $02020Revenue 2021: $24,960,832Expenses 2021: $24,960,832Net Income 2021: $02021Revenue 2022: $26,550,065Expenses 2022: $26,550,065Net Income 2022: $02022Revenue 2023: $28,115,186Expenses 2023: $28,115,186Net Income 2023: $02023Revenue 2024: $28,284,162Expenses 2024: $28,284,162Net Income 2024: $02024

Highlighted filing

2017

Revenue$23,499,435
Expenses$22,015,970
Net Income$1,483,465
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Sep 3, 2018
Return Version
2017v2.3
Gross Receipts
$23,499,435
Mission and Program Overview

Mission

To provide electric energy to our members on a cooperative basis.

Provide electric service to over 8,500 members on a cooperative basis

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$38,101,280$38,791,137▲ $689,857
Rtn Earn Endowment Incm Other Fnds$19,447,262$20,930,727▲ $1,483,465
Investments Program Related$11,399,717$11,757,258▲ $357,541
Accounts Receivable$2,098,885$2,464,291▲ $365,406
Inventories for Sale or Use$585,941$719,933▲ $133,992
Other Notes and Loans Receivable, Net$716,393$562,747▼ $153,646
Savings and Temporary Cash Investments$292,237$313,905▲ $21,668
Cash and Non-Interest-Bearing Accounts$121,256$256,524▲ $135,268
Prepaid Expenses and Deferred Charges$534,589$213,476▼ $321,113
Cap Stk Tr Prin Current Funds$169,455$171,195▲ $1,740
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Total Assets$53,850,298$55,079,271▲ $1,228,973
Liabilities
Mortgage Notes Payable Secured by Investment Property$29,484,221$29,316,069▼ $168,152
Accounts Payable and Accrued Expenses$2,053,416$2,043,731▼ $9,685
Tax Exempt Bond Liabilities$1,895,273$1,688,080▼ $207,193
Other Liabilities$800,671$929,469▲ $128,798
Total Liabilities$34,233,581$33,977,349▼ $256,232
Net Assets / Fund Balance
Total Net Assets Fund Balance$19,616,717$21,101,922▲ $1,485,205
Total Liabilities and Net Assets / Fund Balance$53,850,298$55,079,271▲ $1,228,973

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$38,113,166$18,771,771$56,884,937
Buildings$588,896$1,205,132$1,794,028
Land$89,075-$89,075
Investment Program Related Org$231,459--
Compensation and Service Providers
Top Officer Pay56th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
James ThompsonGeneral ManagerFT$206,844$50,904$257,748
Michael OlsonLine ForemanFT$108,377$40,334$148,711
Timothy BrechtMgr of Engineering & OperationsFT$102,568$45,416$147,984
Steven JenningsMgt of FinanceFT$112,863$34,374$147,237
Duane JonesLine ForemanFT$100,907$40,334$141,241
Gary WagnerApprentice LinemanFT$110,053$26,261$136,314
Jim BenzDirectorPT$6,000-$6,000
Laura MeyerDirector-$5,200-$5,200
Alan AchesonDirectorPT$5,000-$5,000
Rebecca BarlowSecretary-$5,000-$5,000
Kris FarwellTreasurer-$4,400-$4,400
Roger BusenVice-President-$3,000-$3,000
Lyle WanerPresident-$2,800-$2,800
Tom TravisDirectorPT$1,050-$1,050
Jim WardDirector-$900-$900

Highest Paid Contractors

ContractorServicesLocationCompensation
Grizzly Tree & VegetationROW Clearing213 N IL St, Camp Point, IL 62320$196,960
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$23,454,867
Investment Income
$44,568
Other Revenue
$0
Change in Net Assets
$1,483,465

Audited Revenue Reconciliation

Revenue per Audited Statements
$23,499,435
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$23,499,435
Total Revenue per Form 990
$23,499,435
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$21,736,885
Salaries, Compensation, and Employee Benefits$240,194
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$1,738,329--$1,738,329
Interest$1,219,196--$1,219,196
All Other Expenses$841,027--$841,027
Other Expenses$662,284--$662,284
Current Officers, Directors, Trustees, and Key Employees$240,194--$240,194
Benefits to Members$38,891--$38,891
Total Functional Expenses$22,015,970$0$0$22,015,970

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$22,015,970
Expenses per Audited Statements$21,977,079
Total Expenses per Audited Statements$21,977,079
Expenses Not Reported on Financial Statements$38,891
Other Expense Adjustments$38,891
Expenses Not Reported on Form 990$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
-Adams Electric is a member cooperative of Prairie Power IncPurchase of wholesale energyNo$14,540,413
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Regulatory Credits$567,303
Customer Deposits$362,166

Bond Issues

BondIssuerIssuedIssue PricePurpose
BAdams Electric Cooperative CREBs 22011-04-13$1,750,000Clean Renewable Energy Bonds used to construct a wind turbine
AAdams Electric Cooperative CREBs 12009-08-04$1,504,080Clean Renewable Energy Bonds used to construct a wind turbine

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A--$94,005-
B--$113,188-

Bond Financing Compliance

No rebate due
No
Rebate not yet due
No
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
No
Corrective action procedures
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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 18

“Form 1023 and Form 990 are available upon request of the General manager of the Cooperative.”

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.”

Filing and Contact Details

Filer

Filer Name
Adams Electric Cooperative
EIN
37-0147965
Phone
2175937701
Address
PO Box 247, Camp Point, IL 62320-0247

Signing Officer

Name
James Thompson
Title
General Manager
Phone
2175937701
Signed
2018-09-03
Discuss with paid preparer
Yes

Organization Details

Principal Officer
James Thompson
Formed
1938
Legal Domicile
Il
Voting Board Members
9
Independent Board Members
9
Employees
40
Volunteers
0

Preparer

Firm
Dennis G Koch CPA
Address
PO Box 1007, Quincy, IL 62306-1007
Preparer
Dennis G Koch
Phone
2172248484
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 4

“This amount represents the patronage margins retired and paid to members for the year.”

Form 990, Part XI, line 9:

“Net increase in memberships 1,740.”

Financial Statement Notes

Part X, Line 2:

“Adams is a not-for-profit corporation which is generally exempt from federal and state income taxes under Section 501(c)(12) of the Internal Revenue Code. Adams is required to file IRS Form 990, Return of Organization Exempt from Income Tax, and pays income tax on unrelated business income, if any, on an annual basis. Future events may arise which could affect this tax-exempt status. Returns for the years ended December 31, 2015, 2014 and 2013 remain subject to examination by the Internal Revenue Service. Adams believes that it has adequately provided for all open years by tax jurisdiction under ASC Section 740, Income Taxes.”

Part XII, Line 4B - Other Adjustments:

“Benefits Paid to or on behalf of members (Patronage Capital Retired) 38,891.”

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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt140
IRS990/Form990PartVIISectionAGrp/TitleTxt0President
IRS990/Form990PartVIISectionAGrp/TitleTxt1Vice-President
IRS990/Form990PartVIISectionAGrp/TitleTxt2Secretary
IRS990/Form990PartVIISectionAGrp/TitleTxt3Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt4Director
IRS990/Form990PartVIISectionAGrp/TitleTxt5Director
IRS990/Form990PartVIISectionAGrp/TitleTxt6Director
IRS990/Form990PartVIISectionAGrp/TitleTxt7Director
IRS990/Form990PartVIISectionAGrp/TitleTxt8Director
IRS990/Form990PartVIISectionAGrp/TitleTxt9General Manager
IRS990/Form990PartVIISectionAGrp/TitleTxt10Mgt of Finance
IRS990/Form990PartVIISectionAGrp/TitleTxt11Apprentice Lineman
IRS990/Form990PartVIISectionAGrp/TitleTxt12Line Foreman
IRS990/Form990PartVIISectionAGrp/TitleTxt13Mgr of Engineering & Operations
IRS990/Form990PartVIISectionAGrp/TitleTxt14Line Foreman
IRS990/Form990ProvidedToGvrnBodyInd01
IRS990/FormationYr01938
IRS990/FormerOfcrEmployeesListedInd00
IRS990/FSAuditedBasisGrp/SeparateBasisFinclStmtInd0X
IRS990/FSAuditedInd01
IRS990/FundraisingActivitiesInd00
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt09
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossReceiptsAmt023499435
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
IRS990/IndependentAuditFinclStmtInd01
IRS990/IndependentVotingMemberCnt09
IRS990/IndivRcvdGreaterThan100KCnt06
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartIXInd0X
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIInd0X
IRS990/InterestGrp/ProgramServicesAmt01219196
IRS990/InterestGrp/TotalAmt01219196
IRS990/InventoriesForSaleOrUseGrp/BOYAmt0585941
IRS990/InventoriesForSaleOrUseGrp/EOYAmt0719933
IRS990/InvestmentIncomeGrp/RelatedOrExemptFuncIncomeAmt044568
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt044568
IRS990/InvestmentInJointVentureInd00
IRS990/InvestmentsProgramRelatedGrp/BOYAmt011399717
IRS990/InvestmentsProgramRelatedGrp/EOYAmt011757258
IRS990/InvestTaxExemptBondsInd00
IRS990/IRPDocumentCnt030
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt019976903
IRS990/LandBldgEquipBasisNetGrp/BOYAmt038101280
IRS990/LandBldgEquipBasisNetGrp/EOYAmt038791137
IRS990/LandBldgEquipCostOrOtherBssAmt058768040
IRS990/LegalDomicileStateCd0IL
IRS990/LoanOutstandingInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersAndShrGrossIncomeAmt022963161
IRS990/MembersOrStockholdersInd01
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0To provide electric energy to our members on a cooperative basis
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/MortgNotesPyblScrdInvstPropGrp/BOYAmt029484221
IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt029316069
IRS990/NetAssetsOrFundBalancesBOYAmt019616717
IRS990/NetAssetsOrFundBalancesEOYAmt021101922
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NondeductibleContributionsInd00
IRS990/OfficerMailingAddressInd00
IRS990/OnBehalfOfIssuerInd00
IRS990/OperateHospitalInd00
IRS990/Organization501cInd0X
IRS990/OrgDoesNotFollowSFAS117Ind0X
IRS990/OtherChangesInNetAssetsAmt01740
IRS990/OtherExpensesGrp/Desc0Purchased & Generated P
IRS990/OtherExpensesGrp/Desc1Distribution Maintenanc
IRS990/OtherExpensesGrp/Desc2Administration
IRS990/OtherExpensesGrp/Desc3Distribution Operations
IRS990/OtherExpensesGrp/ProgramServicesAmt014708684
IRS990/OtherExpensesGrp/ProgramServicesAmt11466466
IRS990/OtherExpensesGrp/ProgramServicesAmt21100899
IRS990/OtherExpensesGrp/ProgramServicesAmt3662284
IRS990/OtherExpensesGrp/TotalAmt014708684
IRS990/OtherExpensesGrp/TotalAmt11466466
IRS990/OtherExpensesGrp/TotalAmt21100899
IRS990/OtherExpensesGrp/TotalAmt3662284
IRS990/OtherLiabilitiesGrp/BOYAmt0800671
IRS990/OtherLiabilitiesGrp/EOYAmt0929469
IRS990/OtherSourcesGrossIncomeAmt0536274
IRS990/OtherWebsiteInd0X
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt0716393
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt0562747
IRS990/PartialLiquidationInd00
IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt00
IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0534589
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0213476
IRS990/PrincipalOfficerNm0James Thompson
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0221000
IRS990/ProgramServiceRevenueGrp/BusinessCd1221000
IRS990/ProgramServiceRevenueGrp/BusinessCd2221000
IRS990/ProgramServiceRevenueGrp/BusinessCd3221000
IRS990/ProgramServiceRevenueGrp/Desc0Energy Sales
IRS990/ProgramServiceRevenueGrp/Desc1Capital Credits
IRS990/ProgramServiceRevenueGrp/Desc2Other Electric Revenues
IRS990/ProgramServiceRevenueGrp/Desc3Non-Operating Margins
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt022069630
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt11139195
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt2241116
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt34926
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt022069630
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt11139195
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt2241116
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt34926
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt0398693
IRS990/PYContributionsGrantsAmt00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt045517
IRS990/PYOtherExpensesAmt021164416
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt023020411
IRS990/PYRevenuesLessExpensesAmt01263266
IRS990/PYSalariesCompEmpBnftPaidAmt0239553
IRS990/PYTotalExpensesAmt021802662
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt023065928
IRS990/ReconcilationRevenueExpnssAmt01483465
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd01
IRS990/RevenueAmt023499435
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt019447262
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt020930727
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0292237
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0313905
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt0588896
IRS990ScheduleD/BuildingsGrp/DepreciationAmt01205132
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt01794028
IRS990ScheduleD/EquipmentGrp/BookValueAmt038113166
IRS990ScheduleD/EquipmentGrp/DepreciationAmt018771771
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt056884937
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt038891
IRS990ScheduleD/ExpensesSubtotalAmt021977079
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt06058288
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt1732007
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt2866561
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt3184329
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt4144186
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt53540428
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt6231459
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc0Patronage-Prairie Power
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc1Patronage-NRUCFC
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc2NRUCFC Certificates
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc3Federated Insurance
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc4Other Cooperatives
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc5Prairie Power Inc
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc6CoBank
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd0C
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd1C
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd2C
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd3C
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd4C
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd5C
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd6C
IRS990ScheduleD/LandGrp/BookValueAmt089075
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt089075
IRS990ScheduleD/OtherExpensesNotIncludedAmt038891
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0567303
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1362166
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Regulatory Credits
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Customer Deposits
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt023499435
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0Adams is a not-for-profit corporation which is generally exempt from federal and state income taxes under Section 501(c)(12) of the Internal Revenue Code. Adams is required to file IRS Form 990, Return of Organization Exempt from Income Tax, and pays income tax on unrelated business income, if any, on an annual basis. Future events may arise which could affect this tax-exempt status. Returns for the years ended December 31, 2015, 2014 and 2013 remain subject to examination by the Internal Revenue Service. Adams believes that it has adequately provided for all open years by tax jurisdiction under ASC Section 740, Income Taxes.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1Benefits Paid to or on behalf of members (Patronage Capital Retired) 38,891.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X, Line 2:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1Part XII, Line 4b - Other Adjustments:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt038791137
IRS990ScheduleD/TotalBookValueProgramRltdAmt011757258
IRS990ScheduleD/TotalExpensesPerForm990Amt022015970
IRS990ScheduleD/TotalLiabilityAmt0929469
IRS990ScheduleD/TotalRevenuePerForm990Amt023499435
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt023499435
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt021977079
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/CompensationSurveyInd0X
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0206844
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt044585
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt06319
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0James Thompson
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0General Manager
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0257748
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt00
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt0The Board of Directors review compensation, based on industry surveys and employee performance before approving executive compensation.
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc0Part I, Line 3
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990ScheduleJ/WrittenEmploymentContractInd0X
IRS990ScheduleK/ProceduresCorrectiveActionGrp/BondReferenceCd0A
IRS990ScheduleK/ProceduresCorrectiveActionGrp/BondReferenceCd1B
IRS990ScheduleK/ProceduresCorrectiveActionGrp/ProceduresCorrectiveActionInd00

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$55,079,271
Liabilities
$33,977,349
Net assets
$21,101,922
Revenue
$23,499,435
Expenses
$22,015,970
Net income
$1,483,465
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$70.6$39.7$31.0$28.3$28.3$0.00
2023Detailed filing. Detailed filing data is available for this year.$68.4$39.1$29.3$28.1$28.1$0.00
2022Detailed filing. Detailed filing data is available for this year.$65.4$37.7$27.7$26.6$26.6$0.00
2021Detailed filing. Detailed filing data is available for this year.$62.0$35.9$26.1$25.0$25.0$0.00
2020Detailed filing. Detailed filing data is available for this year.$58.9$34.2$24.7$24.3$24.3$0.00
2019Detailed filing. Detailed filing data is available for this year.$58.0$34.7$23.4$25.5$25.5$0.00
2018Detailed filing. Detailed filing data is available for this year.$56.4$34.5$21.9$24.8$24.8$0.00
2017Detailed filing. Detailed filing data is available for this year.$55.1$34.0$21.1$23.5$22.0$1.48
2016Detailed filing. Detailed filing data is available for this year.$53.9$34.2$19.6$23.1$21.8$1.26
2015Detailed filing. Detailed filing data is available for this year.$53.1$34.8$18.4$22.9$21.7$1.17
2014Detailed filing. Detailed filing data is available for this year.$52.2$35.0$17.2$22.8$22.3$0.44
2013Detailed filing. Detailed filing data is available for this year.$52.2$35.5$16.7$22.3$20.8$1.52
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$50.6$35.4$15.2$20.6
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$49.3$34.2$15.1$20.6
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$45.9$31.8$14.1$18.8