Connexus Energy
501(c)(12)
Only null% goes to programs Strong reserves
Connexus Energy is a 501(c)(12) organization based in Ramsey, Minnesota, registered in 1937, with $260,909,344 in FY2023 revenue. CharityIndex grades it A.
14601 Ramsey Blvd Nw, Ramsey, MN, 55303 EIN 41-0128105 Since 1937
Revenue (FY2023)
$260.9M
▼ 2.2% vs prior year
Expenses (FY2023)
$260.9M
Net assets
$222.9M
Employees
270
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
A
—Program efficiency40% of the ratingNo expense breakdown in filings
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. Not scored for Connexus Energy— this filing type doesn't report it, and the rating simply skips it (never counts it against the organization). See the exact thresholds →
AFinancial health25% of the rating10 mo reserves · +0% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For Connexus Energy: 10 mo reserves · +0% margin earns a A on this criterion. See the exact thresholds →
A+Governance25% of the rating6 of 6 checks met
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. For Connexus Energy: 6 of 6 checks met earns a A+ on this criterion. See the exact thresholds →
BTransparency10% of the rating3 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For Connexus Energy: 3 of 5 disclosure signals earns a B on this criterion. See the exact thresholds →
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Mission
Providing utility services to members.
Contact & location
Financial trends
Revenue held steady from $258.7M (FY2013) to $260.9M (FY2023) across 11 reported years.
Financial snapshot
Financial health & position (FY2023)
Liabilities $273.2MNet assets $222.9M
Operating margin
0.0%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$496.1M
Total liabilities
$273.2M
Net assets
$222.9M
Salaries & benefits
$29.3M
11% of expenses
Board members
8
8 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2023 | $260,909,344▼2.2% | $260,909,344▼2.2% | $222,861,030▲1.0% | $496,063,364▲0.8% | 990 |
| 2022 | $266,851,245▼2.6% | $266,851,245▼2.6% | $220,732,835▲0.5% | $491,977,657▲3.9% | 990 |
| 2021 | $273,978,610▲7.4% | $273,978,610▲7.4% | $219,732,919▲3.3% | $473,343,536▲2.3% | 990 |
| 2020 | $255,163,109▲3.4% | $255,163,109▲3.4% | $212,662,016▲4.2% | $462,654,743▲2.0% | 990 |
| 2019 | $246,785,973▼12.0% | $246,785,973▼12.0% | $204,007,391▲2.0% | $453,628,669▲2.2% | 990 |
| 2018 | $280,543,555▲2.7% | $280,543,555▲2.7% | $200,062,766▲7.3% | $443,862,647▲9.5% | 990 |
| 2017 | $273,137,918▲0.3% | $273,137,918▲0.3% | $186,383,555▲3.4% | $405,353,390▲3.0% | 990 |
| 2016 | $272,386,633▲5.7% | $272,386,633▲5.7% | $180,229,432▲5.3% | $393,699,930▲5.9% | 990 |
| 2015 | $257,593,709▼4.6% | $257,593,709▼4.6% | $171,191,631▲1.2% | $371,645,339▲0.4% | 990 |
| 2014 | $270,081,235▲4.4% | $270,081,235▲4.4% | $169,081,002▲7.6% | $370,231,736▲3.5% | 990 |
| 2013 | $258,711,936 | $258,711,936▲1.5% | $157,076,094▲3.0% | $357,557,329▲1.5% | 990 |
| 2012 | — | $254,996,034▲6.8% | $152,445,352▲4.8% | $352,302,341▲3.3% | 990 |
| 2011 | — | $238,674,493▲7.2% | $145,522,379▲3.5% | $340,989,167▲3.4% | 990 |
| 2010 | — | $222,552,828 | $140,569,123 | $329,637,831 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Leadership & compensation (FY2023)
Highest-paid: Greg Ridderbusch — $979,519 (0.38% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Greg Ridderbusch | President/ceo | 50 | $979,519 |
| Yan Paul Martinez | Vp/cfo | 48 | $344,429 |
| Brian Burandt | Vp Power Supply/bus. Development | 50 | $311,133 |
| Mark Koplin | Vp Technology | 45 | $277,150 |
| Nick Loehlein | Vp Electric Operations | 45 | $272,342 |
| Linda Maegi | Vp Employee Services | 50 | $253,993 |
| Scott Johnson | Crew Lead Lineworker | 56 | $240,556 |
| Michael Kenning | Lead Lineworker | 57 | $221,277 |
| Alison Miles | Vp Member Services | 47 | $215,131 |
| Jared Rolstad | Lead Lineworker | 56 | $211,069 |
| Leon Richter | Lead Lineworker | 54 | $208,014 |
| Blayne Nelson | Lead Lineworker | 52 | $198,395 |
| Fran Bator | Chair | 26 | $53,567 |
| Shelly Peterson | Secretary/treasurer | 20 | $46,751 |
| Michael Cady | Asst. Secretary/treasurer | 12 | $46,691 |
| Kenneth Fiereck | Director | 14 | $46,531 |
| Richard Braastad | Director | 10 | $46,531 |
| Mike Thews | Director From 04/23 | 14 | $31,021 |
| Gordon Westerlind | Director | 12 | $27,531 |
| Mark Ethen | Vice Chair | 16 | $24,198 |
Top vendors & contractors (FY2023)
| Contractor | Services | Paid |
|---|---|---|
| Rp Schroeder Construction | Construction Services | $3,929,600 |
| Brink Constructors Inc | Construction Services | $3,012,926 |
| Asplundh Tree Experts LLC | Vegetation Management | $2,726,410 |
| Comport Consulting Group | It Consulting & Supplies | $1,458,462 |
| Michels Power Inc | Construction Services | $1,205,846 |
Grants made · $449K in FY2023
1 grant totaling $449K in FY2023. All grants made by Connexus Energy →
| Recipient | Purpose | Amount |
|---|---|---|
| Connexus Energy Foundation | General donation | $449,257 |
Frequently asked questions
- Is Connexus Energy a legitimate nonprofit?
- Yes. Connexus Energy is a 501(c)(12) organization registered with the U.S. Internal Revenue Service under EIN 41-0128105, based in Ramsey, Minnesota.
- What is Connexus Energy's EIN?
- Connexus Energy's Employer Identification Number (EIN) is 41-0128105.
- How much revenue does Connexus Energy report?
- Connexus Energy reported $260,909,344 in total revenue on its fiscal year 2023 IRS Form 990 filing.
- What financial grade does Connexus Energy have?
- CharityIndex grades Connexus Energy A, based on financial health (reserves and operating margin).
- How much does Connexus Energy's highest-paid employee make?
- The highest reported compensation on Connexus Energy's latest Form 990 is $979,519, paid to Greg Ridderbusch (President/ceo).
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Data for Connexus Energy (EIN 41-0128105) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.