Corn Belt Power Cooperative
501(c)(12)
Strong reserves
Corn Belt Power Cooperative is a 501(c)(12) organization based in Humboldt, Iowa, registered in 1949, with $179,857,821 in FY2025 revenue.
Po Box 508, Humboldt, IA, 50548 EIN 42-0655796 Since 1949
Revenue (FY2025)
$179.9M
▲ 4.8% vs prior year
Expenses (FY2025)
$177.3M
Net assets
$217.5M
Employees
94
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 Corn Belt Power Cooperative— 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 rating15 mo reserves · +1% 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 Corn Belt Power Cooperative: 15 mo reserves · +1% 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 Corn Belt Power Cooperative: 6 of 6 checks met earns a A+ on this criterion. See the exact thresholds →
ATransparency10% of the rating4 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 Corn Belt Power Cooperative: 4 of 5 disclosure signals earns a A on this criterion. See the exact thresholds →
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Mission
Generating and transmitting electrical energy to our members.
Contact & location
Financial trends
Revenue grew from $162.3M (FY2020) to $179.9M (FY2025) across 6 reported years.
Financial snapshot
Financial health & position (FY2025)
Liabilities $382.8MNet assets $217.5M
Operating margin
1.4%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$600.3M
Total liabilities
$382.8M
Net assets
$217.5M
Salaries & benefits
$12.9M
7% of expenses
Board members
9
9 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2025 | $179,857,821▲4.8% | $177,333,272▲5.0% | $217,463,726▲4.8% | $600,300,691▲5.3% | 990 |
| 2024 | $171,564,846▼0.6% | $168,932,021▼1.3% | $207,599,518▲5.7% | $570,127,492▲5.1% | 990 |
| 2023 | $172,579,186▲2.2% | $171,220,431▲2.2% | $196,322,302▲6.1% | $542,332,165▲5.2% | 990 |
| 2022 | $168,893,187▲5.0% | $167,570,093▲5.1% | $185,039,781▲11.3% | $515,608,745▲7.1% | 990 |
| 2021 | $160,842,985▼0.9% | $159,503,641▲7.1% | $166,260,033▲3.1% | $481,545,574▲0.2% | 990 |
| 2020 | $162,299,808 | $148,947,263 | $161,225,309 | $480,770,132 | 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 (FY2025)
Highest-paid: Jacob Olberding — $303,671 (0.17% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Jacob Olberding | Executive Vp and General Manager | 40 | $303,671 |
| Michael Thatcher | Vp Power Supply | 40 | $225,869 |
| Ryan Cornelius | Vp Corporate Relations | 40 | $210,017 |
| Faith Warden | Vp Finance and Administration | 40 | $201,067 |
| Michael Finnegan | Vp Engineering and System Operations | 40 | $193,950 |
| Brittany Dickey | Vp Business Development | 40 | $189,476 |
| Patrick Connor | Plant Manager | 40 | $174,195 |
| Larry Brusseau | Compliance Director | 40 | $154,989 |
| Jon Behounek | Chief System Operator | 40 | $145,033 |
| Brad Hill | Communications Superintendent | 40 | $143,318 |
| Jon Myer | Manger of Information Technology | 40 | $142,369 |
| David Onken | President | 10 | $27,600 |
| Larry Rohach | Treasurer | 7 | $18,200 |
| Dale Schaefer | Vice President | 7 | $16,400 |
| Rick Thompson | Director | 3 | $15,600 |
| Brad Honold | Director | 7 | $14,800 |
| Gary Poppe | Asst Secretary/treasurer | 5 | $14,800 |
| Steve Boedecker | Director | 3 | $13,800 |
| Ted Hall | Director | 5 | $10,800 |
| Jerry Beck | Secretary | 6 | $10,200 |
Top vendors & contractors (FY2025)
| Contractor | Services | Paid |
|---|---|---|
| Highline Construction Inc | Line Construction | $10,405,509 |
| Open Systems International Inc | Equipment Design and Installation | $932,746 |
| Friest Tree Experts LLC | Tree Trimming | $490,877 |
| Wright Tree Service | Tree Clearing Service | $320,609 |
| Infinity Technology Solutions LLC | Equipment Design and Installation | $259,848 |
Frequently asked questions
- Is Corn Belt Power Cooperative a legitimate nonprofit?
- Yes. Corn Belt Power Cooperative is a 501(c)(12) organization registered with the U.S. Internal Revenue Service under EIN 42-0655796, based in Humboldt, Iowa.
- What is Corn Belt Power Cooperative's EIN?
- Corn Belt Power Cooperative's Employer Identification Number (EIN) is 42-0655796.
- How much revenue does Corn Belt Power Cooperative report?
- Corn Belt Power Cooperative reported $179,857,821 in total revenue on its fiscal year 2025 IRS Form 990 filing.
- How much does Corn Belt Power Cooperative's highest-paid employee make?
- The highest reported compensation on Corn Belt Power Cooperative's latest Form 990 is $303,671, paid to Jacob Olberding (Executive Vp and General Manager).
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Data for Corn Belt Power Cooperative (EIN 42-0655796) 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.