Great Lakes Energy Cooperative
501(c)(12)
100% goes to programs Strong reserves Growing revenue
Great Lakes Energy Cooperative is a 501(c)(12) organization based in Boyne City, Michigan, registered in 1997, with $278,373,109 in FY2024 revenue. CharityIndex grades it A+, and it directs about 100% of spending to programs.
1323 Boyne Ave, Boyne City, MI, 49712 EIN 38-3321875 Since 1997
Revenue (FY2024)
$278.4M
▲ 8.6% vs prior year
Expenses (FY2024)
$275.1M
Net assets
$281.0M
Employees
320
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
A+
A+Program efficiency40% of the rating100% to programs
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. For Great Lakes Energy Cooperative: 100% to programs earns a A+ on this criterion. See the exact thresholds →
AFinancial health25% of the rating12 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 Great Lakes Energy Cooperative: 12 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 Great Lakes Energy 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 Great Lakes Energy Cooperative: 4 of 5 disclosure signals earns a A on this criterion. See the exact thresholds →
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Mission
To deliver reliable electric service at the best possible value for rural michigan members.
Contact & location
- Address
- 1323 Boyne Ave, Boyne City, MI, 49712
- City
- Boyne City
- State
- Michigan
- Category
- —
- Subcategory
- —
- Phone
- …
- Website
- …
Financial trends
Revenue grew from $195.9M (FY2013) to $278.4M (FY2024) across 12 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $759.5MNet assets $281.0M
Operating margin
1.2%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$1.0B
Total liabilities
$759.5M
Net assets
$281.0M
Salaries & benefits
$46.2M
17% of expenses
Board members
9
9 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $278,373,109▲8.6% | $275,076,316▲7.3% | $281,010,969▲7.2% | $1,040,503,055▲8.2% | 990 |
| 2023 | $256,252,080▼2.4% | $256,252,080▼2.4% | $262,026,719▲4.8% | $961,358,899▲9.5% | 990 |
| 2022 | $262,446,486▲10.3% | $262,446,486▲10.3% | $250,065,886▲7.5% | $877,952,006▲10.5% | 990 |
| 2021 | $238,017,889▲7.2% | $238,017,889▲7.2% | $232,657,156▲4.5% | $794,670,914▲17.3% | 990 |
| 2020 | $222,026,091▲2.0% | $222,026,091▲2.0% | $222,602,606▲4.0% | $677,695,355▲17.0% | 990 |
| 2019 | $217,615,824▲3.8% | $217,615,824▲3.8% | $214,047,924▲4.0% | $579,459,258▲10.6% | 990 |
| 2018 | $209,724,114▲6.0% | $209,724,114▲6.0% | $205,797,782▲5.7% | $523,889,867▲6.5% | 990 |
| 2017 | $197,882,135▲1.6% | $197,882,135▲1.6% | $194,619,927▲2.0% | $491,870,160▲0.8% | 990 |
| 2016 | $194,814,069▼1.6% | $194,814,069▼1.6% | $190,773,170▲0.8% | $487,956,364▲0.3% | 990 |
| 2015 | $198,041,250▼0.8% | $198,041,250▼0.8% | $189,181,951▲4.2% | $486,453,216▲3.9% | 990 |
| 2014 | $199,700,167▲1.9% | $199,699,655▲1.9% | $181,632,462▲4.8% | $468,142,972▲3.9% | 990 |
| 2013 | $195,883,437 | $195,882,911▲3.8% | $173,302,408▲10.4% | $450,430,734▲6.0% | 990 |
| 2012 | — | $188,654,855▲9.8% | $156,986,363▲6.0% | $424,737,654▲4.7% | 990 |
| 2011 | — | $171,875,414▲10.5% | $148,156,885▲3.5% | $405,755,356▲2.4% | 990 |
| 2010 | — | $155,488,378 | $143,162,332 | $396,211,529 | 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 (FY2024)
Highest-paid: Shaun Lamp — $585,268 (0.21% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Shaun Lamp | President & Ceo | 57 | $585,268 |
| Shari Culver | Chief Operating Officer | 49 | $338,770 |
| Jennifer Wilson | Chief Impact Officer | 51 | $331,141 |
| John Fettig | Chief Financial Officer (end Apr) | 58 | $327,015 |
| Daryl Desloover | Vp of Information Technology | 57 | $312,116 |
| Denne' Smith | Chief Financial Officer (beg Apr) | 58 | $304,823 |
| Ashley Smith | Vp of Engineering | 60 | $287,876 |
| Kevin Forbes | Director of Operations | 60 | $232,397 |
| Thomas Mclouth | Lineworker | 54 | $217,235 |
| Nicholas Ochampaugh | Lineworker | 55 | $216,894 |
| Howard Bowersox | Chairman | 9 | $47,100 |
| John Laforge | Director | 5 | $39,350 |
| Mark Carson | Director | 3 | $39,300 |
| Mary O'connell | Director | 9 | $38,850 |
| Rick Evans | Director | 8 | $35,700 |
| Paul Byl | Secretary | 6 | $33,600 |
| David Coveyou | Director | 3 | $31,300 |
| Dale Farrier | Treasurer | 3 | $30,200 |
| Janet Anderson | Vice Chairman | 6 | $29,200 |
Top vendors & contractors (FY2024)
| Contractor | Services | Paid |
|---|---|---|
| Trees LLC | Right of Way Tree Clearing | $2,304,566 |
| Alpine Tree Service LLC | Right of Way Tree Clearing | $815,546 |
| Aviso LLC | Consulting Services | $228,000 |
| Dykema Gossett Pllc | Professional Services | $212,372 |
| Bodman Plc | Professional Services | $116,209 |
Frequently asked questions
- Is Great Lakes Energy Cooperative a legitimate nonprofit?
- Yes. Great Lakes Energy Cooperative is a 501(c)(12) organization registered with the U.S. Internal Revenue Service under EIN 38-3321875, based in Boyne City, Michigan.
- What is Great Lakes Energy Cooperative's EIN?
- Great Lakes Energy Cooperative's Employer Identification Number (EIN) is 38-3321875.
- How much revenue does Great Lakes Energy Cooperative report?
- Great Lakes Energy Cooperative reported $278,373,109 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- How much of Great Lakes Energy Cooperative's spending goes to programs?
- Great Lakes Energy Cooperative spends about 100% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does Great Lakes Energy Cooperative have?
- CharityIndex grades Great Lakes Energy Cooperative A+, based on program efficiency and fundraising cost.
- How much does Great Lakes Energy Cooperative's highest-paid employee make?
- The highest reported compensation on Great Lakes Energy Cooperative's latest Form 990 is $585,268, paid to Shaun Lamp (President & Ceo).
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Data for Great Lakes Energy Cooperative (EIN 38-3321875) 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.