Central Iowa Power Cooperative

Organization Overview

Central Iowa Power Cooperative is located in Cedar Rapids, IA. The organization was established in 1951. 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 12/2022, Central Iowa Power Cooperative employed 130 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Central Iowa Power Cooperative 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 12/2022, Central Iowa Power Cooperative generated $219.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.2% each year. All expenses for the organization totaled $216.9m during the year ending 12/2022. While expenses have increased by 2.6% 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

ELECTRIC GENERATION AND TRANSMISSION COOPERATIVE

Describe the Organization's Program Activity:

Part 3 - Line 4a

THE COOPERATIVE IS AN ELECTRICAL GENERATION AND TRANSMISSION COOPERATIVE PROVIDING WHOLESALE ELECTRICAL SERVICE TO ITS MEMBERS.


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Board, Officers & Key Employees

Name (title)Compensation
Paul Heineman
Board President
$47,288
Dan Westphal
Board Vice President
$27,030
Gene Manternach
Board Secretary/treasurer
$34,840
Duane Ver Ploeg
Board Asst Secretary/treas
$25,480
Gary Kester
Board Director
$38,800
Kirk Hiland
Board Director
$35,640

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Itc Holdings Corp
Transmission Maintenance
$5,555,889
Aces Power Marketing
Energy Management
$446,536
Heartland Divide Wind Project
Electric Energy
$10,926,896
Bridgewell Resources
Transmission Construction Materials
$405,166
R R H Woods
Rent
$340,292
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$212,285,267
Investment income $1,273,238
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $551,699
Net Gain/Loss on Asset Sales $2,365,066
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $219,280,606

Peer Organizations

Organization NameAssets
Dairyland Power Cooperative
La Crosse, WI
$494,461,937
East River Electric Power Cooperative Inc
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$356,938,059
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$262,303,290
Central Electric Power Cooperative
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$253,080,355
National Electrical Contractors Association Inc
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$233,742,629
Dakota Electric Association
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$231,566,305
Central Iowa Power Cooperative
Cedar Rapids, IA
$219,280,606
Southern Illinois Power Cooperative
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$180,838,082
Prairie Power Inc
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$173,048,857
Corn Belt Power Cooperative
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$168,893,187
Cuivre River Electric Cooperative Incorporated
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$137,337,346
Citizens Electric Corporation
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$140,040,021
Wright-Hennepin Cooperative Electric Association
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$125,052,995
N W Electric Power Cooperative Inc
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$113,398,837
Lake Country Power
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$110,408,177
Minnesota Valley Electric Cooperative
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$112,862,188
Northwest Iowa Power Cooperative
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$110,395,836
Sioux Valley-Southwestern Electric Cooperative Inc
Colman, SD
$99,757,961
Northeast Missouri Electric Power Cooperative
Palmyra, MO
$99,763,852
Corn Belt Electric Cooperative Inc
Bloomington, IL
$91,331,713
Crow Wing Cooperative Power & Light Company
Brainerd, MN
$91,498,148
Southeastern Illinois Electric
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$88,029,423
Adams-Columbia Electric Co-Op
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$86,231,995
Mienergy Cooperative
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$82,515,576
Ozark Electric Cooperative
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$76,057,964

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