Wild Rice Electric Cooperative Inc
- Assets
- $71.2m
- Revenue
- $34.6m
- Investments
- $0.0
- Employees
- 48
- Location
- Mahnomen, MN
- Founding
- 11/1942
- Data as of
- 12/2021
- EIN
- 41-0612945
Organization Overview
Wild Rice Electric Cooperative Inc is located in Mahnomen, 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 12/2021, Wild Rice Electric Cooperative Inc employed 48 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Wild Rice Electric Cooperative Inc 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, Wild Rice Electric Cooperative Inc generated $34.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.8% each year. All expenses for the organization totaled $33.0m during the year ending 12/2021. While expenses have increased by 1.1% 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 EXEMPT PURPOSE OF THE ORGANIZATION IS TO PROVIDE ELECTRICITY TO MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
WILD RICE ELECTRIC IS A RETAIL POWER SUPPLIER, WHICH OWNS AND MAINTAINS OVER 4,014 MILES OF DISTRIBUTION LINES IN A 3,200 SQUARE MILE SERVICE AREA. THE COOPERATIVE SERVES 14,617 CONSUMERS MADE UP OF 11,753 MEMBERS.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Steven Haaven President/ceo (jan) | Officer | 40 | $220,819 |
Kristin Dolan President/ceo | Officer | 40 | $186,568 |
Duane Gunderson Director Of Finance & Admin (jan-Mar) | Officer | 40 | $184,880 |
Tom Houdek Director Of Member Services & Communic | 40 | $107,034 | |
Cody Turner Lead Lineman | 44 | $104,895 | |
Ross Halland Journeyman Lineman | 43 | $103,744 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Carr's Tree Service Right-of-way Clearing | 12/30/21 | $887,616 |
Legacy Power Line Inc Pole Change Outs | 12/30/21 | $436,782 |
Mei Engineering Inc Engineering | 12/30/21 | $129,123 |
Star Energy Services Llc Engineering, It | 12/30/21 | $172,563 |
Bluesky Daylighting Boring | 12/30/21 | $122,637 |
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 | $34,528,075 |
| Investment income | $42,046 |
| 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 | -$547 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $34,569,574 |
| 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 | $1,179,487 |
| Compensation of current officers, directors, key employees. | $848,501 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,159,920 |
| Pension plan accruals and contributions | $774,322 |
| Other employee benefits | $0 |
| Payroll taxes | $283,145 |
| 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 | $1,160,665 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,290,902 |
| Insurance | $0 |
| All other expenses | -$5,038,478 |
| Total functional expenses | $33,013,356 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $3,041,391 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,235,692 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $811,606 |
| Prepaid expenses and deferred charges | $485,292 |
| Net Land, buildings, and equipment | $57,093,708 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $5,158,342 |
| Intangible assets | $0 |
| Other assets | $357,200 |
| Total assets | $71,183,231 |
| Accounts payable and accrued expenses | $3,306,259 |
| Grants payable | $0 |
| Deferred revenue | $450,312 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $1,277 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $36,350,739 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $348,219 |
| Total liabilities | $40,456,806 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $170,260 |
| Paid-in or capital surplus, or land, building, or equipment fund | $27,578,626 |
| Retained earnings, endowment, accumulated income, or other funds | $2,977,539 |
| Total liabilities and net assets/fund balances | $71,183,231 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Nodak Electric Cooperative Inc Grand Forks, ND | $162,149,817 | $119,843,322 |
Wright-Hennepin Cooperative Electric Association Rockford, MN | $233,547,306 | $112,957,716 |
Northwest Iowa Power Cooperative Le Mars, IA | $209,144,882 | $97,805,529 |
Minnesota Valley Electric Cooperative Jordan, MN | $225,562,606 | $97,633,848 |
Sioux Valley-Southwestern Electric Cooperative Inc Colman, SD | $299,619,509 | $95,033,427 |
Lake Country Power Cohasset, MN | $343,138,601 | $92,478,659 |
Crow Wing Cooperative Power & Light Company Brainerd, MN | $238,884,299 | $79,431,443 |
Roughrider Electric Cooperative Inc Hazen, ND | $306,147,341 | $78,571,891 |
Mienergy Cooperative Rushford, MN | $203,461,309 | $76,660,548 |
Adams-Columbia Electric Co-Op Friendship, WI | $247,246,792 | $77,428,375 |
Stearns Cooperative Electric Association Melrose, MN | $153,957,017 | $65,381,947 |
Iowa Lakes Electric Cooperative Estherville, IA | $166,721,612 | $65,953,608 |