Civic Intelligence

Choptank Electric Trust Inc.

990 • Fiscal year 2023 • EIN 86-1072289

Jan 01, 2023 to Dec 31, 2023 • Filed on Oct 10, 2024

Organization ProfileN/A
PO Box 426Denton, MD 21629

(410) 479-0380

Siviq Scores

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

Liabilities / Assets

86th percentile

0.26x

Higher debt load relative to assets than 86% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Liabilities / Revenue

78th percentile

0.05x

Higher debt load relative to revenue than 78% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Net Margin

35th percentile

-3.6%

Higher net margin than 35% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Top Officer Pay

80th percentile

$4,800

Higher top officer pay than 80% of similar nonprofits.

Top officer pay equals 1.5% of source-year revenue.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Asset Growth

45th percentile

-1.1%

Faster asset growth than 45% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Annualized from 2022 to 2023

Revenue Growth

46th percentile

1.5%

Faster revenue growth than 46% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets86th percentile

Assets

Down

$62,486

Down $673 (-1.1%) from 2022

Net Assets

Down

$46,210

Down $11,519 (-20%) from 2022

Liabilities

Up

$16,276

Up $10,846 (+200%) from 2022

Revenue And Expenses
Liabilities / Revenue78th percentileNet Margin35th percentile

Revenue

Up

$323,995

Up $4,686 (+1.5%) from 2022

Expenses

Down

$335,514

Down $8,638 (-2.5%) from 2022

Net Income

Up

-$11,519

Up $13,324 (+54%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth45th percentile

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

$150K$100K$50K$0Assets 2010: $117,085Liabilities 2010: $43,394Net Assets 2010: $73,6912010Assets 2011: $136,513Liabilities 2011: $57,470Net Assets 2011: $79,0432011Assets 2012: $81,354Liabilities 2012: $52,778Net Assets 2012: $28,5762012Assets 2013: $84,420Liabilities 2013: $49,206Net Assets 2013: $35,2142013Assets 2014: $87,330Liabilities 2014: $51,850Net Assets 2014: $35,4802014Assets 2015: $78,066Liabilities 2015: $22,893Net Assets 2015: $55,1732015Assets 2016: $119,000Liabilities 2016: $55,695Net Assets 2016: $63,3052016Assets 2017: $81,239Liabilities 2017: $53,066Net Assets 2017: $28,1732017Assets 2018: $104,845Liabilities 2018: $40,508Net Assets 2018: $64,3372018Assets 2019: $97,896Liabilities 2019: $16,600Net Assets 2019: $81,2962019Assets 2020: $148,291Liabilities 2020: $29,878Net Assets 2020: $118,4132020Assets 2021: $87,670Liabilities 2021: $5,098Net Assets 2021: $82,5722021Assets 2022: $63,159Liabilities 2022: $5,430Net Assets 2022: $57,7292022Assets 2023: $62,486Liabilities 2023: $16,276Net Assets 2023: $46,2102023Assets 2024: $41,609Liabilities 2024: $27,542Net Assets 2024: $14,0672024

Highlighted filing

2023

Assets$62,486
Liabilities$16,276
Net Assets$46,210
Open 2023 Filing

Operations Trend

Revenue Growth46th percentile

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

$400K$200K$0-$200KExpenses 2010: $265,1702010Expenses 2011: $290,5092011Expenses 2012: $347,6152012Revenue 2013: $298,544Expenses 2013: $291,906Net Income 2013: $6,6382013Revenue 2014: $295,868Expenses 2014: $295,602Net Income 2014: $2662014Revenue 2015: $296,106Expenses 2015: $276,413Net Income 2015: $19,6932015Revenue 2016: $299,155Expenses 2016: $291,023Net Income 2016: $8,1322016Revenue 2017: $298,262Expenses 2017: $333,394Net Income 2017: -$35,1322017Revenue 2018: $306,359Expenses 2018: $270,195Net Income 2018: $36,1642018Revenue 2019: $313,735Expenses 2019: $296,776Net Income 2019: $16,9592019Revenue 2020: $358,300Expenses 2020: $321,183Net Income 2020: $37,1172020Revenue 2021: $348,870Expenses 2021: $384,711Net Income 2021: -$35,8412021Revenue 2022: $319,309Expenses 2022: $344,152Net Income 2022: -$24,8432022Revenue 2023: $323,995Expenses 2023: $335,514Net Income 2023: -$11,5192023Revenue 2024: $324,599Expenses 2024: $356,742Net Income 2024: -$32,1432024

Highlighted filing

2023

Revenue$323,995
Expenses$335,514
Net Income-$11,519
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Oct 10, 2024
Return Version
2023v5.0
Gross Receipts
$323,995
Mission and Program Overview

Mission

Accept applications from non-profit organizations/agencies and individuals in the counties of cecil, kent, queen anne, caroline, talbot, dorchester, wimcomico, somerset and worchester in maryland for donation of funds to be used for scholarships, educational and other community purposes.

Accept applications from non-profit organizations/agencies and individuals in the counties of cecil, kent, queen anne, caroline, talbot, dorchester, wicomico, somerset and worchester in maryland for donation of funds to be used for scholarships, educational and other community purposes.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$63,159$62,486▼ $673
Total Assets$63,159$62,486▼ $673
Liabilities
Accounts Payable and Accrued Expenses$5,430$16,276▲ $10,846
Total Liabilities$5,430$16,276▲ $10,846
Net Assets / Fund Balance
Net Assets With Donor Restrictions$57,729$46,210▼ $11,519
Total Net Assets Fund Balance$57,729$46,210▼ $11,519
Total Liabilities and Net Assets / Fund Balance$63,159$62,486▼ $673
Compensation and Service Providers
Top Officer Pay80th percentile

Employees

NameTitleOtherTotal
Deborah BarnesVice Chairma$4,800$4,800
Donna Landis-smithDirector$4,800$4,800
John MooreDirector$4,800$4,800
Chris McclaryDirector$4,800$4,800
Deborah LuthySecretary$4,800$4,800
Thomas TerryChairman$4,400$4,400
Jackie BrownDirector$3,600$3,600
Kristen NickersonDirector$2,800$2,800
Shawn D SmithDirector$2,400$2,400
Michael BoyleDirector$1,200$1,200
Edward Henry JrTreasurer$800$800
Sharon K ReddingDirector$800$800
Revenue and Support

Revenue Composition

Contributions and Grants
$323,995
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$323,995
Change in Net Assets
$-11,519
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$335,514
Other Expenses$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$221,295--$221,295
Grants to Domestic Orgs$114,219--$114,219
Total Functional Expenses$335,514$0$0$335,514
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
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Business relationship with 35% controlled entity
No
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 8B

“All board decisions are documented; no committees set up.”

Form 990, Page 6, Part VI, Line 11B

“No review was or will be conducted.”

Form 990, Page 6, Part VI, Line 19

“No documents available to the public.”

Filing and Contact Details

Filer

Filer Name
Choptank Electric Trust
EIN
86-1072289
Phone
4104790380
Address
PO BOX 426, DENTON, MD 21629

Signing Officer

Name
Lisa Desantis
Title
VP & CFO
Phone
4104790380
Signed
2024-10-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Thomas Terry
Formed
2003
Legal Domicile
Md
Voting Board Members
9
Independent Board Members
9
Employees
0

Preparer

Firm
Adams Jenkins & Cheatham
Address
231 WYLDEROSE DR, MIDLOTHIAN, VA 23113
Preparer
G Steven Gilliam CPA
Phone
8043231313
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“Accept applications from non-profit organizations/agencies and individuals in the counties of cecil, kent, queen anne, caroline, talbot, dorchester, wimcomico, somerset and worchester in maryland for donation of funds to be used for scholarships, educational and other community purposes.”

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0ACCEPT APPLICATIONS FROM NON-PROFIT ORGANIZATIONS/AGENCIES AND INDIVIDUALS IN THE COUNTIES OF CECIL, KENT, QUEEN ANNE, CAROLINE, TALBOT, DORCHESTER, WIMCOMICO, SOMERSET AND WORCHESTER IN MARYLAND FOR DONATION OF FUNDS TO BE USED FOR SCHOLARSHIPS, EDUCATIONAL AND OTHER COMMUNITY PURPOSES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ALL BOARD DECISIONS ARE DOCUMENTED; NO COMMITTEES SET UP.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2NO REVIEW WAS OR WILL BE CONDUCTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3NO DOCUMENTS AVAILABLE TO THE PUBLIC.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleR/AssetExchangeInd0false
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd0false
IRS990ScheduleR/AssetSaleToOtherOrgInd0false
IRS990ScheduleR/DivRelatedOrganizationInd0false
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd0false
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd0false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd0N/A
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0520271943
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501C
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0MD
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0DIST ELEC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt0PO BOX 426
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0DENTON
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0MD
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd021629
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd0false
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd0false
IRS990ScheduleR/PaidEmployeesSharingInd0false
IRS990ScheduleR/PerformOfServicesByOtherOrgInd0false
IRS990ScheduleR/PerformOfServicesForOthOrgInd0false
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd0false
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd0false
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0false
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd0false
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd0false
IRS990ScheduleR/SharingOfFacilitiesInd0false
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt0323995
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0CASH RECEIVED
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0CHOPTANK ELEC COOPERATIVE
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0S
IRS990ScheduleR/TransferFromOtherOrgInd0true
IRS990ScheduleR/TransferToOtherOrgInd0false
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt063159
IRS990/TotalAssetsEOYAmt062486
IRS990/TotalAssetsGrp/BOYAmt063159
IRS990/TotalAssetsGrp/EOYAmt062486
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0323995
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0335514
IRS990/TotalFunctionalExpensesGrp/TotalAmt0335514
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt05430
IRS990/TotalLiabilitiesEOYAmt016276
IRS990/TotalLiabilitiesGrp/BOYAmt05430
IRS990/TotalLiabilitiesGrp/EOYAmt016276
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt057729
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt046210
IRS990/TotalProgramServiceExpensesAmt0335514
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0323995
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt063159
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt062486
IRS990/TotReportableCompRltdOrgAmt040000
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationTrustInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO BOX 426
IRS990/USAddress/CityNm0DENTON
IRS990/USAddress/StateAbbreviationCd0MD
IRS990/USAddress/ZIPCd021629
IRS990/VotingMembersGoverningBodyCnt09
IRS990/VotingMembersIndependentCnt09
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02024-10-15 13:58:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0LISA DESANTIS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0VP & CFO
ReturnHeader/BusinessOfficerGrp/PhoneNum04104790380
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-10-10
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0CHOPTANK ELECTRIC TRUST
ReturnHeader/Filer/BusinessNameControlTxt0CHOP
ReturnHeader/Filer/EIN0861072289
ReturnHeader/Filer/PhoneNum04104790380
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 426
ReturnHeader/Filer/USAddress/CityNm0DENTON
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MD
ReturnHeader/Filer/USAddress/ZIPCd021629
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0541320089
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0ADAMS JENKINS & CHEATHAM
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0231 WYLDEROSE DR
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0MIDLOTHIAN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0VA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd023113
ReturnHeader/PreparerPersonGrp/PhoneNum08043231313
ReturnHeader/PreparerPersonGrp/PreparationDt02024-10-10
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0G STEVEN GILLIAM CPA
ReturnHeader/ReturnTs02024-10-11T16:23:07-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$62,486
Liabilities
$16,276
Net assets
$46,210
Revenue
$323,995
Expenses
$335,514
Net income
-$11,519
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.42$0.28$0.14$3.25$3.57$0.32
2023Detailed filing. Detailed filing data is available for this year.$0.62$0.16$0.46$3.24$3.36$0.12
2022Detailed filing. Detailed filing data is available for this year.$0.63$0.05$0.58$3.19$3.44$0.25
2021Detailed filing. Detailed filing data is available for this year.$0.88$0.05$0.83$3.49$3.85$0.36
2020Detailed filing. Detailed filing data is available for this year.$1.48$0.30$1.18$3.58$3.21$0.37
2019Detailed filing. Detailed filing data is available for this year.$0.98$0.17$0.81$3.14$2.97$0.17
2018Detailed filing. Detailed filing data is available for this year.$1.05$0.41$0.64$3.06$2.70$0.36
2017Detailed filing. Detailed filing data is available for this year.$0.81$0.53$0.28$2.98$3.33$0.35
2016Detailed filing. Detailed filing data is available for this year.$1.19$0.56$0.63$2.99$2.91$0.08
2015Detailed filing. Detailed filing data is available for this year.$0.78$0.23$0.55$2.96$2.76$0.20
2014Detailed filing. Detailed filing data is available for this year.$0.87$0.52$0.35$2.96$2.96$0.00
2013Detailed filing. Detailed filing data is available for this year.$0.84$0.49$0.35$2.99$2.92$0.07
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.81$0.53$0.29$3.48
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.37$0.57$0.79$2.91
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.17$0.43$0.74$2.65