Minnesota Rural Electric Associatio N
- Assets
- $3.0m
- Revenue
- $4.2m
- Investments
- $0.0
- Employees
- 15
- Location
- Maple Grove, MN
- Founding
- 06/1945
- Data as of
- 12/2021
- 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 12/2021, Minnesota Rural Electric Associatio N employed 15 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 12/2021, Minnesota Rural Electric Associatio N generated $4.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.8% each year. All expenses for the organization totaled $3.9m during the year ending 12/2021. While expenses have increased by 3.2% 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
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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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Darrick Moe President & | Officer | 40 | $258,805 |
Melissa Stachovich Director-Fin | Officer | 40 | $148,090 |
Lidia Dilley Jacobson Director-Saf | 40 | $143,933 | |
Krista Benjamin Director- Ed | 40 | $119,241 | |
Jenny Glumack Manager-Leg. | 40 | $111,985 | |
Wes Waller Chair | Trustee | 8 | $10,849 |
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 | $4,136,290 |
| Investment income | $17,750 |
| 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 | $4,154,040 |
| 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. | $610,674 |
| Compensation of current officers, directors, key employees. | $387,371 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,049,131 |
| Pension plan accruals and contributions | $320,828 |
| Other employee benefits | $153,253 |
| Payroll taxes | $108,355 |
| Fees for services: Management | $111,508 |
| Fees for services: Legal | $8,756 |
| 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 | $14,074 |
| Travel | $52,800 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $62,899 |
| Interest | $41,884 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $79,595 |
| Insurance | $82,297 |
| All other expenses | $439,961 |
| Total functional expenses | $3,936,728 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $297,246 |
| Savings and temporary cash investments | $1,800,000 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $33,436 |
| 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 | $153,408 |
| Net Land, buildings, and equipment | $399,195 |
| Investments—publicly traded securities | $222,021 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $63,225 |
| Total assets | $2,968,531 |
| Accounts payable and accrued expenses | $143,446 |
| Grants payable | $0 |
| Deferred revenue | $235,558 |
| 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 | $250,555 |
| Total liabilities | $629,559 |
| Net assets without donor restrictions | $2,338,972 |
| 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 | $2,968,531 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Minnesota Rural Electric Associatio N has recieved totaling $25,600.
| Awarding Organization | Amount |
|---|---|
National Rural Utilities Cooperative Finance Corp Dulles, VA PURPOSE: EDUCATIONAL FUND-BOARD LEADERSHIP CERTIFICATE DIRECTOR COURSES | $25,600 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Lake Region Electric Association Inc Webster, SD | $46,798,980 | $19,860,340 |
Black Hills Electric Cooperative Inc Custer, SD | $75,104,972 | $23,022,656 |
Roseau Electric Cooperative Inc Roseau, MN | $41,619,663 | $19,513,008 |
Lewis And Clark Rural Water System Inc Tea, SD | $426,307,061 | $39,792,007 |
West Central Electric Cooperative Incorporated Murdo, SD | $53,451,686 | $18,722,038 |
Midwest Reliability Organization Inc St Paul, MN | $14,721,870 | $17,505,130 |
Rathbun Regional Water Association Inc Centerville, IA | $143,535,509 | $19,524,917 |
Oconto Electric Cooperative Oconto Falls, WI | $45,027,823 | $17,184,584 |
T I P Rural Electric Cooperative Brooklyn, IA | $57,344,467 | $17,059,790 |
Nishnabotna Valley Rural Electric Cooperative Harlan, IA | $46,708,124 | $17,798,413 |
Renville-Sibley Cooperative Power Association Danube, MN | $38,100,201 | $16,486,591 |
Central Wisconsin Electric Cooperative Rosholt, WI | $60,789,666 | $16,195,495 |