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Choptank Electric Trust INC

Tax-deductible

Denton, MD501(c)(3)Foundations & GrantmakersEIN 86-1072289Revenue $325K in FY2024

On file with the IRSPo Box 426, 21629-0426 · Denton, MDTax-exempt since Jun 2003Publicly supported charity — 170(b)(1)(A)(vi)

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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.

501(c)(3) charity; gifts are tax-deductible.
100¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 5
filings with a surplus
Average deficit $13K a year · 4% of revenue · last 5 filings
Concern: a surplus in 1 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
1 mo
of spending, in cash
Fine: 1.4 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $19K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$28K
66% of total assets
Worth a look: liabilities are 66% of assets; over 65%.
Pt X · Ln 26
Independent board members
10
of 10 voting members
Looks good: 10 of 10 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$325K
+0.2% vs prior year
Spent
$357K
To programs
100%
Net assets
$14K
By yearFY2020–FY2024
Revenue
$325K
FY2024+0.2%
Tap a bar for its year
Revenue by fiscal year
FY2020$358K
FY2021$349K
FY2022$319K
FY2023$324K
FY2024$325K
Expenses
$357K
FY2024▲ +6%
Tap a bar for its year
Expenses by fiscal year
FY2020$321K
FY2021$385K
FY2022$344K
FY2023$336K
FY2024$357K
Net assets
$14K
FY2024▼ -70%
Tap a bar for its year
Net assets by fiscal year
FY2020$118K
FY2021$83K
FY2022$58K
FY2023$46K
FY2024$14K

From the FY2024 Form 990 · see the original

Form 990 (PDF) Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jun 2003.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $357K

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

10 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
$0Pt VII · Sec A
John Moore
Director
$0Pt VII · Sec A
Thomas Terry
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Deborah Luthy
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
Donna Landis-Smith
Vice Chairma
$0Pt VII · Sec A
See Choptank Electric Trust INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Provides funds for scholarships and community projects to eligible Maryland residents and organizations.

Provided by the organization

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1 program · $357K · in their own filed words · FY2024
01

Distributions for scholarships and other educational and community purposes

$357Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2020
Community Foundation of the Eastern Shore INCFY2020$10K
Paypal Charitable Giving FundFY2020$9K
Total grants receivedfrom 2 funders$19K
Grants paid · 15 grants · $1.1M · 2020–2024
Unitemized GrantFY2024$101,016
Unitemized GrantFY2024$80,188
Unitemized GrantFY2024$53,871
Unitemized GrantFY2023$86,468
Unitemized GrantFY2023$82,224
Unitemized GrantFY2023$52,603
Unitemized GrantFY2022$94,176
Unitemized GrantFY2022$76,506
Unitemized GrantFY2022$52,475
Unitemized GrantFY2021$89,752
Unitemized GrantFY2021$80,799
Unitemized GrantFY2021$59,945
Unitemized GrantFY2020$83,218
Unitemized GrantFY2020$58,764
Unitemized GrantFY2020$42,560

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$325K
Ln 12
Gifts and grantsLn 1h$325K
Money outPt IX
$357K
Ln 25
Programscol B$357K
Owns and owesPt X
$14K
net assets · Ln 32
Cash and savingsLn 1–2$42K
Total assetsLn 16$42K
LiabilitiesLn 26$28K
PeoplePt VI, VII
10
listed · VII A
PaidVII A0
Voting boardVI 1a10
IndependentVI 1b10
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$325K
Total revenueLn 12$325K
Assets in detailPt X, end of year
SavingsLn 2$42K
Cash and savings togetherLn 1–2$42K
Total assetsLn 16$42K
LiabilitiesLn 26$28K
Net assetsLn 32$14K
OperationsPt I, VI
EmployeesI 50
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$62K$42K
Total assetsLn 16$62K$42K
LiabilitiesLn 26$16K$28K
Net assetsLn 32$46K$14K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$121K$121K
Grants to domestic individualsLn 2$235K$235K
Other expenses (24a–d)Ln 24$198$198
Total functional expensesLn 25$357K$357K$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $325K$357K−$32K$14K 990 PDF
FY2023 $324K$336K−$12K$46K 990 PDF
FY2022 $319K$344K−$25K$58K 990 PDF
FY2021 $349K$385K−$36K$83K 990 PDF
FY2020 $358K$321K$37K$118K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (6 parts)
Part I · Summary $324,599 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $323,995$324,599
I-9 Program service revenue$0
I-10 Investment income$0
I-11 Other revenue$0
I-12 Total revenuePrior year $323,995$324,599
I-13 Grants and similar amounts paidPrior year $335,514$356,544
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expenses$198
I-18 Total expensesPrior year $335,514$356,742
I-19 Revenue less expensesPrior year −$11,519−$32,143
Part VI · Governance 10 of 10 board members independent, 4 to look at
VI-1a Voting members of the governing body10
VI-1b Independent voting members10
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $324,599 across 3 lines filed
VIII-1f All other contributions, gifts and grants$324,599
VIII-1h Total contributions, gifts and grants$324,599
VIII-12 Total revenue$324,599
Part IX · Statement of functional expenses $356,742 across 3 lines filed
IX-1 Grants to domestic organizationsPrograms $121,469$121,469
IX-2 Grants to domestic individualsPrograms $235,075$235,075
IX-24 Other expenses (24a–d)Programs $198$198
IX-25 Total functional expensesPrograms $356,742 · Management $0 · Fundraising $0$356,742
Part X · Balance sheet $41,609 assets, 7 lines filed
X-2 Savings and temporary cash investmentsStart of year $62,486$41,609
X-16 Total assetsStart of year $62,486$41,609
X-17 Accounts payable and accrued expensesStart of year $16,276$27,542
X-26 Total liabilitiesStart of year $16,276$27,542
X-28 Net assets with donor restrictionsStart of year $46,210$14,067
X-32 Total net assets or fund balancesStart of year $46,210$14,067
X-33 Total liabilities and net assetsStart of year $62,486$41,609
Part XI · Reconciliation of net assets $14,067 net assets at year end
XI-1 Total revenue$324,599
XI-2 Total expenses$356,742
XI-3 Revenue less expenses−$32,143
XI-4 Net assets at start of year$46,210
XI-10 Net assets at end of year$14,067

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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