Renville-Sibley Cooperative Power Association
- Assets
- $53.9m
- Revenue
- $17.2m
- Investments
- $0.0
- Employees
- 20
- Location
- Danube, MN
- Founding
- 10/1942
- Data as of
- 12/2023
- EIN
- 41-0501059
Organization Overview
Renville-Sibley Cooperative Power Association is located in Danube, MN. The organization was established in 1942. 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, Renville-Sibley Cooperative Power Association employed 20 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Renville-Sibley Cooperative 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 12/2023, Renville-Sibley Cooperative Power Association generated $17.2m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 2.7% each year. All expenses for the organization totaled $17.2m during the year ending 12/2023. While expenses have increased by 2.6% 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
TO PROVIDE ELECTRIC SERVICE TO MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE COOPERATIVE ENGAGES IN THE DISTRIBUTION AND SALE OF ELECTRICAL POWER TO ITS MEMBERS IN WESTERN MINNESOTA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gary Eekhoff Director | Trustee | 3.4 | $7,963 |
Roger Manthei Chairman | Trustee | 4.3 | $7,225 |
Gary Peterson Director | Trustee | 2.3 | $5,300 |
Helen Ruebel Director | Trustee | 2.3 | $4,950 |
Kylie Rieke Director (through September 2023) | Trustee | 2.9 | $4,690 |
Wayland Zaske Secretary/treasurer | Trustee | 1.6 | $4,375 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Midwest Underground Of Minnesota Inc Underground Cable Burial | 12/30/23 | $199,731 |
Star Energy Engineering | 12/30/23 | $151,086 |
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 | $15,895,247 |
| Investment income | $213,283 |
| 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 | $17,249,467 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $11,140 |
| Grants and other assistance to domestic individuals. | $6,856 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $1,787,955 |
| Compensation of current officers, directors, key employees. | $767,270 |
| 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 | $748,867 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $846,857 |
| Insurance | $0 |
| All other expenses | $364,303 |
| Total functional expenses | $17,249,467 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $3,011,755 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,958,348 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,290,332 |
| Prepaid expenses and deferred charges | $5,480 |
| Net Land, buildings, and equipment | $33,447,909 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $14,167,980 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $53,881,804 |
| Accounts payable and accrued expenses | $1,748,422 |
| Grants payable | $0 |
| Deferred revenue | $2,592,932 |
| 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 | $26,660,355 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $140,377 |
| Total liabilities | $31,142,086 |
| 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 | $22,739,718 |
| Total liabilities and net assets/fund balances | $53,881,804 |