Minnesota Valley Electric Cooperative
501(c)(12)
Only null% goes to programs Strong reserves
Minnesota Valley Electric Cooperative is a 501(c)(12) organization based in Jordan, Minnesota, registered in 1939, with $108,271,085 in FY2024 revenue. CharityIndex grades it A.
125 Minnesota Valley Electric Dr, Jordan, MN, 55352 EIN 41-0419150 Since 1939
Revenue (FY2024)
$108.3M
▼ 0.3% vs prior year
Expenses (FY2024)
$110.6M
Net assets
$88.5M
Employees
116
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 Minnesota Valley Electric Cooperative— this filing type doesn't report it, and the rating simply skips it (never counts it against the organization). See the exact thresholds →
B+Financial health25% of the rating10 mo reserves · -2% 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 Minnesota Valley Electric Cooperative: 10 mo reserves · -2% margin earns a B+ 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 Minnesota Valley Electric Cooperative: 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 Minnesota Valley Electric Cooperative: 3 of 5 disclosure signals earns a B on this criterion. See the exact thresholds →
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Mission
Provide electric service to members
Contact & location
Financial trends
Revenue grew from $75.7M (FY2013) to $108.3M (FY2024) across 12 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $180.3MNet assets $88.5M
Operating margin
-2.1%
Spent more than it raised in the latest fiscal year.
Total assets
$268.8M
Total liabilities
$180.3M
Net assets
$88.5M
Salaries & benefits
$1.4M
1% of expenses
Board members
9
9 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $108,271,085▼0.3% | $110,577,794▲3.2% | $88,490,334▲3.7% | $268,805,374▲7.5% | 990 |
| 2023 | $108,564,734▼3.8% | $107,152,255▼2.4% | $85,361,933▲4.9% | $250,122,932▲4.0% | 990 |
| 2022 | $112,862,188▲15.6% | $109,796,025▲13.4% | $81,346,290▲4.7% | $240,589,872▲6.7% | 990 |
| 2021 | $97,633,848▲3.9% | $96,823,868▲2.9% | $77,679,364▲2.6% | $225,562,606▲1.8% | 990 |
| 2020 | $93,961,370▲1.4% | $94,080,870▲1.9% | $75,722,196▲4.4% | $221,519,963▲3.8% | 990 |
| 2019 | $92,655,686▼3.9% | $92,342,792▼4.3% | $72,508,653▲2.4% | $213,393,836▲5.0% | 990 |
| 2018 | $96,408,322▲7.4% | $96,525,782▲7.2% | $70,841,829▲5.5% | $203,198,407▲7.2% | 990 |
| 2017 | $89,725,384▲2.4% | $90,057,533▲0.7% | $67,121,625▲3.2% | $189,600,326▲1.7% | 990 |
| 2016 | $87,635,360▲11.5% | $89,451,533▲14.5% | $65,069,210▲5.2% | $186,410,162▲8.3% | 990 |
| 2015 | $78,589,739▲2.7% | $78,153,287▲3.2% | $61,871,633▲2.3% | $172,078,378▲13.3% | 990 |
| 2014 | $76,513,147▲1.1% | $75,736,387▲0.4% | $60,501,986▲3.7% | $151,875,070▲3.9% | 990 |
| 2013 | $75,653,128 | $75,438,470▲5.4% | $58,339,883▲5.1% | $146,204,264▲2.0% | 990 |
| 2012 | — | $71,590,938▲3.8% | $55,497,813▲6.1% | $143,290,562▲4.4% | 990 |
| 2011 | — | $68,966,570▲12.5% | $52,305,090▲5.1% | $137,188,201▲1.2% | 990 |
| 2010 | — | $61,294,280 | $49,747,194 | $135,611,367 | 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: Marvin Denzer — $389,792 (0.35% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Marvin Denzer | Ceo | 40 | $389,792 |
| Randy Erdman | Vp of Finance | 40 | $215,775 |
| Michael Dietz | Vp of Operations | 40 | $199,318 |
| Ryan Fedie | Vp Energy Services Thru Sept 2024 | 40 | $198,837 |
| Sarah Peterson | Vp of Engineering | 40 | $191,386 |
| Brandi Adelmann | Director of Human Resources | 40 | $187,115 |
| Joseph Jutz | Foreman - Construction | 52.67 | $183,541 |
| Terri Bakken | Vp Member Services | 40 | $176,968 |
| Stuart Haefner | Foreman - Lead | 49.41 | $175,044 |
| Deborah Erickson | President | 8 | $22,220 |
| Elizabeth Krocak | Secretary/treasurer | 4 | $18,585 |
| Thomas Wolf | Vice President | 25 | $18,555 |
| Kevin Gibbs | Director | 8 | $18,120 |
| Brent Lawrence | Director | 7 | $18,000 |
| Gary Haberman | Director | 2 | $18,000 |
| James Connelly | Director | 25 | $18,000 |
| Michael Lins | Director | 8 | $18,000 |
| Michelle Morrison | Director | 8 | $18,000 |
Top vendors & contractors (FY2024)
| Contractor | Services | Paid |
|---|---|---|
| Donlie Underground Inc | Underground Line Services | $3,071,128 |
| Carr's Tree Service Inc | Tree Trimming & Spraying Services | $1,766,851 |
| Highline Construction Inc | Overhead/underground Line Services | $785,329 |
| Mbi Designbuild LLC | Engineering Design Services | $552,517 |
| Usic Locating Services LLC | Underground Locating Services | $514,472 |
Frequently asked questions
- Is Minnesota Valley Electric Cooperative a legitimate nonprofit?
- Yes. Minnesota Valley Electric Cooperative is a 501(c)(12) organization registered with the U.S. Internal Revenue Service under EIN 41-0419150, based in Jordan, Minnesota.
- What is Minnesota Valley Electric Cooperative's EIN?
- Minnesota Valley Electric Cooperative's Employer Identification Number (EIN) is 41-0419150.
- How much revenue does Minnesota Valley Electric Cooperative report?
- Minnesota Valley Electric Cooperative reported $108,271,085 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- What financial grade does Minnesota Valley Electric Cooperative have?
- CharityIndex grades Minnesota Valley Electric Cooperative A, based on financial health (reserves and operating margin).
- How much does Minnesota Valley Electric Cooperative's highest-paid employee make?
- The highest reported compensation on Minnesota Valley Electric Cooperative's latest Form 990 is $389,792, paid to Marvin Denzer (Ceo).
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Data for Minnesota Valley Electric Cooperative (EIN 41-0419150) 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.