Otsego Electric Cooperative Inc
Otsego Electric Cooperative demonstrates consistent revenue growth and strong asset accumulation over the past decade.
EIN: 150500061 · Hartwick, NY · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $13.5M |
| Total Expenses | $12.7M |
| Program Spending | 97% |
| CEO/Top Officer Pay | $13 |
| Net Assets | $15.7M |
| Transparency Score | 85/100 |
Is Otsego Electric Cooperative Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Otsego Electric Cooperative Inc directs 97% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Otsego Electric Cooperative Inc
Otsego Electric Cooperative Inc (EIN: 150500061) is a nonprofit organization based in Hartwick, NY. The organization reported total revenue of $13.5M and total assets of $55.2M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Otsego Electric Cooperative Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Otsego Electric Cooperative Inc is a large nonprofit that has been operating for 80 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 6.2%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $13.1M |
| Total Expenses | $12.7M |
| Surplus / Deficit | +$375K |
| Total Assets | $54.9M |
| Total Liabilities | $39.2M |
| Net Assets | $15.7M |
| Operating Margin | 2.9% |
| Debt-to-Asset Ratio | 71.4% |
| Months of Reserves | 51.8 months |
Financial Health Grade: A
In 2023, Otsego Electric Cooperative Inc reported a surplus of $375K with revenue exceeding expenses, holds 51.8 months of operating reserves (strong position), has a debt-to-asset ratio of 71.4% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), Otsego Electric Cooperative Inc's revenue has grown at a compound annual growth rate (CAGR) of 6.2%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +2.5% | +4.0% | +11.9% |
| 2022 | +22.8% | +19.2% | +0.0% |
| 2021 | +19.7% | +22.9% | -4.8% |
| 2020 | -6.9% | +6.3% | +23.5% |
| 2019 | +25.5% | +10.3% | +13.8% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 3000 |
| IRS Ruling Date | 1946 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Otsego Electric Cooperative Inc with a Mission Score of 85 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 3%
- programs: 97%
- fundraising: 0%
According to IRS 990 filings, Otsego Electric Cooperative Inc allocates its expenses as follows: admin: 3%, programs: 97%, fundraising: 0%. With 97% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $375K, with revenue exceeding expenses.
- Debt-to-asset ratio: 71.4%.
Executive Compensation Analysis
The provided data indicates 0% officer compensation across all reported periods, which is highly unusual for an organization with annual revenues exceeding $13 million and assets over $50 million. This suggests that executive compensation may be reported under other expense categories or is not disclosed in this summary format, warranting further investigation for complete transparency.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Otsego Electric Cooperative Inc's IRS 990 filings:
- Unexplained 0% officer compensation for a large organization
- NTEE Code is unknown, limiting direct comparison to peer organizations
Strengths
The following positive indicators were identified for Otsego Electric Cooperative Inc:
- Consistent revenue growth over the past decade, from $7.5M in 2014 to $13.1M in 2023.
- Strong and growing asset base, increasing from $29.8M in 2014 to $54.9M in 2023.
- Positive net income in most years, indicating sound financial management (e.g., $374,716 in 2023).
- Expenses closely track revenue, suggesting efficient use of resources for its operational mission.
Frequently Asked Questions about Otsego Electric Cooperative Inc
Is Otsego Electric Cooperative Inc a legitimate charity?
Otsego Electric Cooperative Inc (EIN: 150500061) is a registered tax-exempt nonprofit based in New York. Our AI analysis gives it a Mission Score of 85/100. It has 13 years of IRS 990 filings on record. Total revenue: $13.5M. 2 red flags identified. 4 strengths noted. Financial health grade: A.
How does Otsego Electric Cooperative Inc spend its money?
Otsego Electric Cooperative Inc directs 97% of its spending to programs and services. This exceeds the 65% industry benchmark.
Are donations to Otsego Electric Cooperative Inc tax-deductible?
Otsego Electric Cooperative Inc is registered as a tax-exempt nonprofit (EIN: 150500061). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Otsego Electric Cooperative Inc CEO make?
Otsego Electric Cooperative Inc's highest-compensated officer earns $13 annually. The organization reported $13.5M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
Where is Otsego Electric Cooperative Inc located?
Otsego Electric Cooperative Inc is headquartered in Hartwick, New York and files with the IRS under EIN 150500061.
How many years of IRS 990 filings does Otsego Electric Cooperative Inc have?
Otsego Electric Cooperative Inc has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $13.5M in total revenue.
How does Otsego Electric Cooperative Inc allocate its expenses between program services, administrative costs, and fundraising?
Based on the available data, with expenses consistently close to revenue (e.g., $12,729,444 expenses against $13,104,160 revenue in 2023), it suggests a high proportion of spending is directed towards its core mission (programs). Assuming minimal fundraising for a cooperative, and a reasonable administrative overhead, the majority of expenses would be program-related.
Why is officer compensation reported as 0% across all years, despite the organization's significant size?
The consistent reporting of 0% officer compensation is atypical for an organization of this scale. It could mean that compensation is included in other expense categories, paid by a related entity, or that the officers are uncompensated volunteers. Further detail from the full IRS 990 filing would be needed to clarify this.
What is the long-term debt burden of the cooperative, given its growing liabilities?
The cooperative's liabilities have grown from $20,657,779 in 2014 to $39,235,249 in 2023. While assets have grown proportionally, understanding the composition of these liabilities (e.g., long-term debt vs. operational payables) is crucial for assessing its financial risk and sustainability.
Filing History
IRS 990 filing history for Otsego Electric Cooperative Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Otsego Electric Cooperative Inc's revenue has grown by 106.3%, moving from $6.4M to $13.1M. Total assets increased by 105.2% over the same period, from $26.8M to $54.9M. Total functional expenses rose by 104.7%, from $6.2M to $12.7M. In its most recent filing year (2023), Otsego Electric Cooperative Inc reported a surplus of $375K, with revenue exceeding expenses. The organization holds $39.2M in liabilities against $54.9M in assets (debt-to-asset ratio: 71.4%), resulting in net assets of $15.7M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $13.1M | $12.7M | $54.9M | $39.2M | — | View 990 |
| 2022 | $12.8M | $12.2M | $49.1M | $35.2M | — | — |
| 2021 | $10.4M | $10.3M | $49.1M | $36.4M | — | View 990 |
| 2020 | $8.7M | $8.4M | $51.6M | $39.7M | — | — |
| 2019 | $9.3M | $7.9M | $41.7M | $30.4M | — | View 990 |
| 2018 | $7.4M | $7.1M | $36.7M | $26.1M | — | View 990 |
| 2017 | $7.0M | $6.5M | $30.5M | $20.3M | — | View 990 |
| 2016 | $6.6M | $6.5M | $30.4M | $20.7M | — | View 990 |
| 2015 | $6.9M | $6.7M | $29.9M | $20.4M | — | View 990 |
| 2014 | $7.5M | $7.2M | $29.9M | $20.7M | — | View 990 |
| 2013 | $6.8M | $6.5M | $29.9M | $21.0M | — | View 990 |
| 2012 | $6.4M | $6.3M | $27.2M | $18.8M | — | View 990 |
| 2011 | $6.4M | $6.2M | $26.8M | $18.5M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $13.1M, expenses of $12.7M, and assets of $54.9M (revenue +2.5% year-over-year).
- 2022: Revenue of $12.8M, expenses of $12.2M, and assets of $49.1M (revenue +22.8% year-over-year).
- 2021: Revenue of $10.4M, expenses of $10.3M, and assets of $49.1M (revenue +19.7% year-over-year).
- 2020: Revenue of $8.7M, expenses of $8.4M, and assets of $51.6M (revenue -6.9% year-over-year).
- 2019: Revenue of $9.3M, expenses of $7.9M, and assets of $41.7M (revenue +25.5% year-over-year).
- 2018: Revenue of $7.4M, expenses of $7.1M, and assets of $36.7M (revenue +6.0% year-over-year).
- 2017: Revenue of $7.0M, expenses of $6.5M, and assets of $30.5M (revenue +5.8% year-over-year).
- 2016: Revenue of $6.6M, expenses of $6.5M, and assets of $30.4M (revenue -4.2% year-over-year).
- 2015: Revenue of $6.9M, expenses of $6.7M, and assets of $29.9M (revenue -8.0% year-over-year).
- 2014: Revenue of $7.5M, expenses of $7.2M, and assets of $29.9M (revenue +10.2% year-over-year).
- 2013: Revenue of $6.8M, expenses of $6.5M, and assets of $29.9M (revenue +7.5% year-over-year).
- 2012: Revenue of $6.4M, expenses of $6.3M, and assets of $27.2M (revenue +0.2% year-over-year).
- 2011: Revenue of $6.4M, expenses of $6.2M, and assets of $26.8M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Otsego Electric Cooperative Inc:
Data Sources and Methodology
This transparency report for Otsego Electric Cooperative Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.