Stearns Electric Association Trust
- Assets
- $57.1k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Melrose, MN
- Founding
- 02/1995
- Data as of
- 12/2023
- EIN
- 41-1768397
Organization Overview
Stearns Electric Association Trust is located in Melrose, MN. The organization was established in 1995. According to its NTEE Classification (T70) the organization is classified as: Federated Giving Programs, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Stearns Electric Association Trust is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Stearns Electric Association Trust generated $178.4k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.0% each year. All expenses for the organization totaled $169.8k during the year ending 12/2023. While expenses have increased by 3.6% 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
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3
THE ORGANIZATION COLLECTS AND DISBURSES FUNDS FOR CHARITABLE AND EDUCATIONAL PURPOSES IN THE AREA SERVED BY STEARNS COOPERATIVE ELECTRIC ASSOCIATION. GRANTS ARE GIVEN TO CHARITABLE ORGANIZATIONS, WORTHY CAUSES, & INDIVIDUALS IN NEED AFTER THE BOARD REVIEWS AN "OPERATION ROUND UP APPLICATION" REQUESTING FUNDS. ORGANIZATIONS OR INDIVIDUALS REQUESTING FUNDS EXPLAIN WHAT THE FUNDS WILL BE USED FOR AND WHY THEY ARE IN NEED. PROFILE INFORMATION ON THE APPLICATION IS ALSO USED AS THE BASIS FOR A GRANT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joseph Christensen President | 0.35 | $400 | |
Chris Bergman Vice President | 0.29 | $400 | |
Jen Heinen Secretary/treasurer | 0.29 | $200 | |
Steve Gudgell Director | 0.25 | $200 | |
Chuck Marks Director | 0.31 | $300 | |
Ronald Paulsen Director | 0.1 | $100 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $178,011 |
| Total Program Service Revenue | $0 |
| Membership dues | $0 |
| Investment income | $343 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $178,354 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $2,500 |
| Professional fees and other payments to independent contractors | $0 |
| Occupancy, rent, utilities, and maintenance | $0 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $1,012 |
| Total expenses | $169,785 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $46,574 |
| Other assets | $0 |
| Total assets | $57,087 |
| Total liabilities | $0 |
| Net assets or fund balances | $57,087 |