Minnesota Valley Cooperative Light And Power Association is located in Montevideo, MN. The organization was established in 1943. 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 Valley Cooperative Light And Power Association employed 38 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Minnesota Valley Cooperative Light And Power Association is a 501(c)(12) and as such, is described as a "Benevolent Life Insurance Association, Mutual Ditch or Irrigation Company, Mutual or Cooperative Telephone Company" by the IRS.
For the year ending 12/2021, Minnesota Valley Cooperative Light And Power Association generated $22.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.0% each year. All expenses for the organization totaled $23.1m during the year ending 12/2021. While expenses have increased by 2.8% 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
TO PROVIDE ELECTRICAL ENERGY SERVICES TO RURAL CUSTOMERS
Describe the Organization's Program Activity:
Part 3 - Line 4a
PURCHASE AND DISTRIBUTION OF ELECTRICAL POWER TO APPROXIMATELY 5,336 RURAL CUSTOMERS
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Patrick Carruth General Manager | Officer | 40 | $431,536 |
Robert Kratz Operation Manager | 40 | $245,296 | |
Jill Rothschadl Office Manager | 40 | $153,354 | |
Kent Smith Foreman | 40 | $115,189 | |
James Hughes Foreman | 40 | $113,668 | |
Trevor Diggins System Coordinator | 40 | $109,018 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Karian Peterson Powerline Powerline Contracting | 12/30/21 | $1,701,331 |
Power Systems Engineering Inc Engineering Consulting | 12/30/21 | $262,675 |
Minnesota Valley Tree Service Right Of Way Tree Cleaning | 12/30/21 | $1,047,698 |
Nisc Computer Software And Services | 12/30/21 | $111,139 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $815,245 |
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 | $815,245 |
Total Program Service Revenue | $20,711,284 |
Investment income | $318,751 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $66,162 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $68,563 |
Miscellaneous Revenue | $0 |
Total Revenue | $22,632,419 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $21 |
Grants and other assistance to domestic individuals. | $0 |
Grants and other assistance to Foreign Orgs/Individuals | $0 |
Benefits paid to or for members | $3,356,134 |
Compensation of current officers, directors, key employees. | $680,661 |
Compensation of current officers, directors, key employees. | $0 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $0 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $0 |
Payroll taxes | $0 |
Fees for services: Management | $0 |
Fees for services: Legal | $0 |
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 | $0 |
Travel | $0 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $0 |
Interest | $966,389 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $2,391,489 |
Insurance | $0 |
All other expenses | $1,161,989 |
Total functional expenses | $23,060,089 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $1,394,542 |
Savings and temporary cash investments | $0 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $2,474,233 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $0 |
Inventories for sale or use | $1,475,552 |
Prepaid expenses and deferred charges | $409,207 |
Net Land, buildings, and equipment | $55,918,996 |
Investments—publicly traded securities | $0 |
Investments—other securities | $5,505,204 |
Investments—program-related | $10,629,525 |
Intangible assets | $0 |
Other assets | $19,758 |
Total assets | $77,827,017 |
Accounts payable and accrued expenses | $1,450,865 |
Grants payable | $0 |
Deferred revenue | $273,573 |
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 | $43,460,547 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $2,325,064 |
Total liabilities | $47,510,049 |
Net assets without donor restrictions | $0 |
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 | $30,316,968 |
Total liabilities and net assets/fund balances | $77,827,017 |
Organization Name | Assets | Revenue |
---|---|---|
Blue Earth Nicollet Faribault Cooperative Electric Association Mankato, MN | $118,260,844 | $45,959,324 |
Capital Electric Cooperative Inc Bismarck, ND | $133,692,620 | $42,124,624 |
Oakdale Electric Cooperative Oakdale, WI | $108,949,694 | $41,848,166 |
Barron Electric Cooperative Barron, WI | $83,238,959 | $40,823,389 |
Northern Plains Electric Cooperative Carrington, ND | $137,367,234 | $41,884,973 |
Garden Valley Telephone Company Erskine, MN | $115,867,634 | $40,536,799 |
Riverland Energy Cooperative Arcadia, WI | $120,553,523 | $39,958,076 |
West River Electric Association Inc Wall, SD | $136,764,788 | $38,874,089 |
District Energy St Paul Inc St Paul, MN | $133,953,246 | $38,563,375 |
Steele Waseca Cooperative Electric Owatonna, MN | $93,180,056 | $37,750,212 |
Maquoketa Valley Rural Electric Cooperative Anamosa, IA | $145,482,750 | $38,262,856 |
Access Energy Cooperative Mt Pleasant, IA | $101,668,176 | $38,281,251 |