Minnkota Power Cooperative Inc
501(c)(12)
Strong reserves Growing revenue
Minnkota Power Cooperative Inc is a 501(c)(12) organization based in Grand Forks, North Dakota, registered in 1943, with $472,008,366 in FY2024 revenue.
5301 32nd Ave S, Grand Forks, ND, 58201 EIN 45-0166406 Since 1943
Revenue (FY2024)
$472.0M
▲ 5.0% vs prior year
Expenses (FY2024)
$462.8M
Net assets
$235.8M
Employees
442
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 Minnkota Power Cooperative Inc— 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 rating6 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 Minnkota Power Cooperative Inc: 6 mo reserves · +2% 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 Minnkota Power Cooperative Inc: 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 Minnkota Power Cooperative Inc: 4 of 5 disclosure signals earns a A on this criterion. See the exact thresholds →
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Mission
Minnkota power cooperative is a rural electric cooperative that generates and transmits electric power for eleven member cooperatives.
Contact & location
- Address
- 5301 32nd Ave S, Grand Forks, ND, 58201
- City
- Grand Forks
- State
- North Dakota
- Category
- —
- Subcategory
- —
- Phone
- …
- Website
- …
Financial trends
Revenue grew from $324.6M (FY2013) to $472.0M (FY2024) across 12 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $956.2MNet assets $235.8M
Operating margin
2.0%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$1.2B
Total liabilities
$956.2M
Net assets
$235.8M
Salaries & benefits
$5.7M
1% of expenses
Board members
11
11 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $472,008,366▲5.0% | $462,753,449▲6.0% | $235,802,042▲4.6% | $1,191,992,873▲0.7% | 990 |
| 2023 | $449,704,391▼0.4% | $436,669,776▲0.9% | $225,333,538▲5.5% | $1,183,715,921▲2.2% | 990 |
| 2022 | $451,623,057▲11.1% | $432,708,147▲12.3% | $213,597,038▲12.1% | $1,158,057,527▲1.5% | 990 |
| 2021 | $406,680,982▲2.9% | $385,173,456▼0.6% | $190,594,292▲13.7% | $1,140,468,068▲0.1% | 990 |
| 2020 | $395,276,944▼1.7% | $387,606,652▼0.7% | $167,592,067▲6.9% | $1,139,298,514▲1.3% | 990 |
| 2019 | $402,196,354▼2.9% | $390,482,354▼3.3% | $156,767,393▲4.4% | $1,124,833,308▲6.0% | 990 |
| 2018 | $414,061,515▲4.7% | $403,962,515▲4.7% | $150,196,807▲7.4% | $1,060,797,950▲2.1% | 990 |
| 2017 | $395,642,680▲4.5% | $385,992,680▲4.5% | $139,893,680▲7.5% | $1,039,451,568▲2.1% | 990 |
| 2016 | $378,425,640 | $369,195,640▼0.5% | $130,156,542▲6.2% | $1,017,654,497▲3.2% | 990 |
| 2015 | $378,374,239▲8.9% | $370,874,239▲9.1% | $122,580,872▲6.0% | $986,053,407▲3.7% | 990 |
| 2014 | $347,340,379▲7.0% | $340,066,549▲7.0% | $115,587,837▲6.2% | $950,553,711▲4.6% | 990 |
| 2013 | $324,562,877 | $317,761,754▲10.1% | $108,853,198▲8.3% | $909,008,837▲24.8% | 990 |
| 2012 | — | $288,545,049▼2.0% | $100,511,643▲7.5% | $728,399,349▲19.0% | 990 |
| 2011 | — | $294,450,984▲20.7% | $93,464,180▲9.0% | $611,883,344▲8.7% | 990 |
| 2010 | — | $243,993,425 | $85,747,658 | $562,823,528 | 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: Robert Mclennan — $1,147,879 (0.25% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Robert Mclennan | President & Ceo | 40 | $1,147,879 |
| Lowell Stave | Vice President and Coo | 40 | $440,577 |
| Gerad Paul | General Counsel-vp of Legal, Compliance & Risk Mgmt | 40 | $387,741 |
| Jami Hovet | Vice President of Administration | 40 | $329,123 |
| Kay Schraeder | Vice President and Cfo | 40 | $322,134 |
| Todd Sailer | Vice President of Power Supply | 40 | $320,574 |
| Craig Bleth | Vice President of Project Development | 40 | $314,874 |
| Dan Inman | Vice President and Ciso | 40 | $311,437 |
| Brendan Kennelly | Vice President of Power Delivery | 40 | $298,608 |
| Andrew Sorbo | Vice President Strategic Initiatives | 40 | $257,802 |
| Stacey Dahl | Vice President of External Affairs | 40 | $248,807 |
| Shannon Mikula | Environmental Manager | 40 | $240,891 |
| Grant Gunderson | Senior Manager Resource Planning & Markets | 40 | $233,376 |
| Andrew Freidt | Senior Manager of Power Production | 40 | $227,012 |
| Tim Hagerott | Senior Manager of Generation & Development | 40 | $214,395 |
| Theresa Brorby | Senior Manager of Audit & Risk | 40 | $208,464 |
| Colette Kujava | Board Secretary/treasurer | 5.9 | $21,890 |
| Mark Habedank | Board Chair | 5.9 | $18,560 |
| Rick Coe | Board Member | 4.7 | $17,220 |
| Tom Woinarowicz | Board Vice Chair | 5.9 | $16,540 |
Top vendors & contractors (FY2024)
| Contractor | Services | Paid |
|---|---|---|
| Sargent & Lundy | Engineering Services | $1,440,229 |
| Ulteig Operations LLC | Engineering Services | $592,637 |
| Holland & Knight | Legal | $538,941 |
| David Greeson Consulting LLC | Consulting | $334,948 |
| Imperial Cleaning Services | Cleaning Services | $200,920 |
Frequently asked questions
- Is Minnkota Power Cooperative Inc a legitimate nonprofit?
- Yes. Minnkota Power Cooperative Inc is a 501(c)(12) organization registered with the U.S. Internal Revenue Service under EIN 45-0166406, based in Grand Forks, North Dakota.
- What is Minnkota Power Cooperative Inc's EIN?
- Minnkota Power Cooperative Inc's Employer Identification Number (EIN) is 45-0166406.
- How much revenue does Minnkota Power Cooperative Inc report?
- Minnkota Power Cooperative Inc reported $472,008,366 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- How much does Minnkota Power Cooperative Inc's highest-paid employee make?
- The highest reported compensation on Minnkota Power Cooperative Inc's latest Form 990 is $1,147,879, paid to Robert Mclennan (President & Ceo).
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Data for Minnkota Power Cooperative Inc (EIN 45-0166406) 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.