Itasca-Mantrap Co-Op Electricalassn Trust
- Assets
- $37.0k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Park Rapids, MN
- Founding
- 02/2009
- Data as of
- 12/2021
- EIN
- 20-5048055
Organization Overview
Itasca-Mantrap Co-Op Electricalassn Trust is located in Park Rapids, MN. The organization was established in 2009. According to its NTEE Classification (S12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Itasca-Mantrap Co-Op Electricalassn Trust is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Itasca-Mantrap Co-Op Electricalassn Trust generated $101.3k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.1% each year. All expenses for the organization totaled $110.5k during the year ending 12/2021. While expenses have increased by 1.3% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3
THE PURPOSE OF THE ORGANIZATION IS TO ACCUMULATE AND DISTRIBUTE FUNDS FOR CHARITABLE AND EDUCATIONAL PURPOSES. THE ORGANIZATION IS FUNDED SOLELY BY VOLUNTARY OPERATION ROUND UP CONTRIBUTIONS FROM MEMBERS OF THE COOPERATIVE AND FROM OTHER SOURCES OF FUNDS AVAILABLE TO THE TRUST. OPERATION ROUND UP CONTRIBUTIONS ARE USED PRIMARILY IN THE LOCAL AREA SERVED BY THE COOPERATIVE FOR CHARITABLE AND EDUCATIONAL PURPOSES. GRANTS ARE AWARDED TO NON-PROFIT OR COMMUNITY-BASED ORGANIZATIONS THAT DEMONSTRATE A COMMITMENT TO ENHANCING THE QUALITY OF LIFE IN THE REGION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard Magaard Director | 0.18 | $177 | |
Rhonda Lageson Director | 0.16 | $175 | |
Al Judson Chair | 0.23 | $172 | |
Carol Winskowski Secretary | 0.17 | $172 | |
Christine Longfors Treasurer | 0.19 | $168 | |
Ron Ahmann Vice Chair | 0.22 | $168 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $101,130 |
| Total Program Service Revenue | $0 |
| Membership dues | $0 |
| Investment income | $177 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $101,307 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $1,137 |
| Professional fees and other payments to independent contractors | $215 |
| Occupancy, rent, utilities, and maintenance | $0 |
| Printing, publications, postage, and shipping | $225 |
| Other expenses | $209 |
| Total expenses | $110,471 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $37,042 |
| Other assets | $0 |
| Total assets | $37,042 |
| Total liabilities | $0 |
| Net assets or fund balances | $37,042 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Cedar Street Charitable Foundation Inc Milwaukee, WI | $72,743,564 | $36,616,391 |
Missouri River Historical Develop- Ment Inc Sioux City, IA | $5,283,123 | $4,260,184 |
Michael E Portzen And Sara A Portzen Family Foundation Peosta, IA | $2,370,924 | $1,197,691 |
Owatonna Area Chamber Foundation Owatonna, MN | $195,093 | $449,503 |
Community Betterment Organization Pella, IA | $2,432,406 | $1,698,245 |
Mille Lacs Trails Inc Aitkin, MN | $865,196 | $621,358 |
Ndn Fund Rapid City, SD | $6,707,836 | $217,223 |
Central Iowa Housing Trust Fund Des Moines, IA | $344,976 | $398,757 |
Cooperstown Municipal Association Cooperstown, ND | $1,277,517 | $652,098 |
Itasca-Mantrap Co-Op Electricalassn Trust Park Rapids, MN | $37,042 | $0 |
Levy Giving Fund Inc Wauankee, WI | $217,321 | $0 |
Rhinelander Community Foundation Inc Rhinelander, WI | $985,574 | $418,702 |