Minnesota Rural Electric Associatio N
- Assets
- $3.4m
- Revenue
- $5.0m
- Investments
- $0.0
- Employees
- 19
- Location
- Maple Grove, MN
- Founding
- 06/1945
- Data as of
- 12/2023
- EIN
- 41-0417193
Organization Overview
Minnesota Rural Electric Associatio N is located in Maple Grove, MN. The organization was established in 1945. According to its NTEE Classification (W80) the organization is classified as: Public Utilities, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2023, Minnesota Rural Electric Associatio N employed 19 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Minnesota Rural Electric Associatio N is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2023, Minnesota Rural Electric Associatio N generated $5.0m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 4.2% each year. All expenses for the organization totaled $4.6m during the year ending 12/2023. While expenses have increased by 4.3% per year over the past 9 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE ASSOCIATION WAS FORMED TO PROVIDE SERVICES TO ITS MEMBERS INCLUDING EDUCATION, JOB TRAINING AND SAFETY, AND LEGISLATIVE AND REGULATOR REPRESENTATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATION, JOB TRAINING AND SAFETY PROGRAMS
LEGISLATIVE RELATIONS
MEMBERSHIP SERVICES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Darrick Moe President & | Officer | 40 | $289,409 |
Joe Miller Director Of | 40 | $128,427 | |
Melissa Stachovich Director-Fin | Officer | 40 | $178,555 |
Jenny Glumack Director Gov | 40 | $170,008 | |
Anthony Lenz Director-Saf | 40 | $102,246 | |
Wes Waller Chair | Trustee | 13 | $12,701 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $4,845,056 |
| Investment income | $117,988 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,963,044 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $708,455 |
| Compensation of current officers, directors, key employees. | $452,825 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,156,885 |
| Pension plan accruals and contributions | $339,323 |
| Other employee benefits | $211,770 |
| Payroll taxes | $127,138 |
| Fees for services: Management | $136,211 |
| Fees for services: Legal | $5,173 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $15,567 |
| Travel | $72,462 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $91,968 |
| Interest | $35,198 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $106,269 |
| Insurance | $94,779 |
| All other expenses | $623,673 |
| Total functional expenses | $4,614,349 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $244,862 |
| Savings and temporary cash investments | $2,475,000 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $18,268 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $126,310 |
| Net Land, buildings, and equipment | $500,455 |
| Investments—publicly traded securities | $53,511 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,418,406 |
| Accounts payable and accrued expenses | $178,841 |
| Grants payable | $0 |
| Deferred revenue | $317,170 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $74,201 |
| Total liabilities | $570,212 |
| Net assets without donor restrictions | $2,848,194 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $3,418,406 |