Nodak Electric Cooperative Inc
501(c)(12)
100% goes to programs Strong reserves
Nodak Electric Cooperative Inc is a 501(c)(12) organization based in Grand Forks, North Dakota, registered in 1942, with $147,271,424 in FY2025 revenue. CharityIndex grades it A, and it directs about 100% of spending to programs.
4000 32nd Ave S, Grand Forks, ND, 58201 EIN 45-0172533 Since 1942
Revenue (FY2025)
$147.3M
▲ 5.2% vs prior year
Expenses (FY2025)
$145.5M
Net assets
$74.9M
Employees
72
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 Nodak Electric Cooperative Inc: 100% to programs earns a A+ on this criterion. See the exact thresholds →
AFinancial health25% of the rating6 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 Nodak Electric Cooperative Inc: 6 mo reserves · +1% margin earns a A on this criterion. See the exact thresholds →
BGovernance25% of the rating4 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 Nodak Electric Cooperative Inc: 4 of 6 checks met earns a B on this criterion. See the exact thresholds →
A+Transparency10% of the rating5 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 Nodak Electric Cooperative Inc: 5 of 5 disclosure signals earns a A+ on this criterion. See the exact thresholds →
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Mission
Rural electric cooperative serving 20,000+ accounts in northeastern nd.
What they do
Depreciation expense to provide electric service to 20,000 accounts
Interest expense to provide electric service to 20,000 accounts
Other program services to provide electric service to 20,000 accounts.
Contact & location
- Address
- 4000 32nd Ave S, Grand Forks, ND, 58201
- City
- Grand Forks
- State
- North Dakota
- Category
- —
- Subcategory
- —
- Phone
- …
- Website
- …
Financial trends
Revenue grew from $104.2M (FY2020) to $147.3M (FY2025) across 6 reported years.
Financial snapshot
Financial health & position (FY2025)
Liabilities $107.5MNet assets $74.9M
Operating margin
1.2%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$182.5M
Total liabilities
$107.5M
Net assets
$74.9M
Salaries & benefits
$0
0% of expenses
Board members
9
9 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2025 | $147,271,424▲5.2% | $145,472,168▲5.2% | $74,939,206▲3.0% | $182,450,195▲2.9% | 990 |
| 2024 | $139,970,585▲1.7% | $138,254,060▲2.2% | $72,761,668▲2.6% | $177,299,391▲3.7% | 990 |
| 2023 | $137,633,929▼5.0% | $135,291,143▼4.7% | $70,898,181▲3.8% | $171,041,522▲1.9% | 990 |
| 2022 | $144,951,964▲21.0% | $141,889,868▲27.0% | $68,329,179▲5.0% | $167,870,496▲3.5% | 990 |
| 2021 | $119,843,322▲15.0% | $111,750,756▲10.3% | $65,045,735▲14.6% | $162,149,817▲11.9% | 990 |
| 2020 | $104,223,078 | $101,294,173 | $56,753,161 | $144,864,960 | 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: Mylo Einarson — $350,879 (0.24% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Mylo Einarson | President/ceo | 50 | $350,879 |
| Jay Raymond | Line Superintendant | 40 | $160,793 |
| Blaine Rekken | Customer and Energy Services Manager | 40 | $155,382 |
| Cole Johnson | Engineering Manager | 40 | $148,137 |
| Andrew Peterson | Accounting and Finance Manager | 40 | $135,171 |
| David Brag | Director | 4 | $16,200 |
| Cheryl Osowski | Director | 12 | $14,250 |
| Pete Naastad | Director | 4 | $14,100 |
| Steve Smaaladen | Vice Chairman | 6 | $13,800 |
| Luther Meberg | Director | 12 | $13,650 |
| Ryan Benson | Secretary / Treasurer | 20 | $13,650 |
| Les Windjue | Chairman | 5 | $12,600 |
| David Kent | Director | 10 | $12,300 |
| David Hagert | Director | 3 | $7,900 |
| Luke Ressler | Director | 20 | $5,300 |
Top vendors & contractors (FY2025)
| Contractor | Services | Paid |
|---|---|---|
| North Plains Utility | Utility Contractor | $671,972 |
| Eagle River Utility Solutions | Utility Contractor | $295,215 |
| Arrow E Tree LLC | Tree Contractor | $291,642 |
| Carr's Tree Service Inc | Tree Contractor | $148,586 |
Frequently asked questions
- Is Nodak Electric Cooperative Inc a legitimate nonprofit?
- Yes. Nodak Electric Cooperative Inc is a 501(c)(12) organization registered with the U.S. Internal Revenue Service under EIN 45-0172533, based in Grand Forks, North Dakota.
- What is Nodak Electric Cooperative Inc's EIN?
- Nodak Electric Cooperative Inc's Employer Identification Number (EIN) is 45-0172533.
- How much revenue does Nodak Electric Cooperative Inc report?
- Nodak Electric Cooperative Inc reported $147,271,424 in total revenue on its fiscal year 2025 IRS Form 990 filing.
- How much of Nodak Electric Cooperative Inc's spending goes to programs?
- Nodak Electric Cooperative Inc spends about 100% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does Nodak Electric Cooperative Inc have?
- CharityIndex grades Nodak Electric Cooperative Inc A, based on program efficiency and fundraising cost.
- How much does Nodak Electric Cooperative Inc's highest-paid employee make?
- The highest reported compensation on Nodak Electric Cooperative Inc's latest Form 990 is $350,879, paid to Mylo Einarson (President/ceo).
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Data for Nodak Electric Cooperative Inc (EIN 45-0172533) 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.