Wild Rice Electric Cooperative Inc

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 12/2023, Wild Rice Electric Cooperative Inc employed 47 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 12/2023, Wild Rice Electric Cooperative Inc generated $36.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.4% each year. All expenses for the organization totaled $36.1m during the year ending 12/2023. While expenses have increased by 2.3% 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2023

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 3,646 MILES OF DISTRIBUTION LINES IN A 3,200 SQUARE MILE SERVICE AREA. THE COOPERATIVE SERVES 14,701 CONSUMERS MADE UP OF 11,907 MEMBERS.


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Board, Officers & Key Employees

Name (title)Compensation
David Hamre
Treasurer
$8,362
Greg Lavoy
Director
$8,482
Jeff Nornes
Director
$10,357
Jimmy Kaiser
Chairman
$9,607
Larry Sollie
Vice Chairman
$8,707
Mark Habedank
Secretary
$7,907

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Carr's Tree Service
Right-of-way Clearing
$1,617,069
Star Energy Services Llc
Engineering, It
$210,539
Legacy Power Line Inc
Pole Replacement
$290,250
Bluesky Daylighting
Boring
$193,243
View All Vendors

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$36,528,628
Investment income $74,840
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales -$74,880
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory -$628
Miscellaneous Revenue$0
Total Revenue $36,527,960

Peer Organizations

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Verendrye Electric Cooperative Inc
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Lake Region Electric Cooperative
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$57,227,491
North West Rural Electric Cooperative
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$57,563,670
District Energy St Paul Inc
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$61,525,227
Midland Power Cooperative
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$57,765,405
Blue Earth Nicollet Faribault Cooperative Electric Association
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$53,900,086
Capital Electric Cooperative Inc
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$46,315,028
Riverland Energy Cooperative
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Northern Plains Electric Cooperative
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$44,894,140
West River Electric Association Inc
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$45,909,924

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