Northwest Iowa Power Cooperative
501(c)(12)
Only null% goes to programs Strong reserves Growing revenue
Northwest Iowa Power Cooperative is a 501(c)(12) organization based in Le Mars, Iowa, registered in 1958, with $114,611,981 in FY2024 revenue. CharityIndex grades it A.
31002 County Road C38, Le Mars, IA, 51031 EIN 42-0723014 Since 1958
Revenue (FY2024)
$114.6M
▲ 3.8% vs prior year
Expenses (FY2024)
$114.0M
Net assets
$98.4M
Employees
48
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 Northwest Iowa 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 rating10 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 Northwest Iowa Power Cooperative: 10 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 Northwest Iowa Power 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 Northwest Iowa Power Cooperative: 3 of 5 disclosure signals earns a B on this criterion. See the exact thresholds →
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Mission
Wholesale electricity sales to its member cooperatives.
Contact & location
Financial trends
Revenue grew from $91.9M (FY2013) to $114.6M (FY2024) across 12 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $180.7MNet assets $98.4M
Operating margin
0.6%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$279.0M
Total liabilities
$180.7M
Net assets
$98.4M
Salaries & benefits
$6.6M
6% of expenses
Board members
7
7 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $114,611,981▲3.8% | $113,962,140▲3.9% | $98,358,568▲4.4% | $279,034,305▲7.8% | 990 |
| 2023 | $110,395,836▲4.0% | $109,664,924▲4.3% | $94,243,152▲5.8% | $258,746,815▲10.6% | 990 |
| 2022 | $106,140,124▲8.5% | $105,118,609▲8.0% | $89,107,626▲9.1% | $234,022,291▲11.9% | 990 |
| 2021 | $97,805,529▼6.1% | $97,310,307▼6.1% | $81,705,853▲3.6% | $209,144,882▲0.9% | 990 |
| 2020 | $104,137,752▲0.4% | $103,639,160▲0.3% | $78,884,404▲3.9% | $207,293,424▲9.0% | 990 |
| 2019 | $103,773,468▼4.2% | $103,371,925▼3.6% | $75,941,890▲2.7% | $190,140,714▲9.4% | 990 |
| 2018 | $108,335,597▲6.1% | $107,182,446▲5.5% | $73,943,525▲15.1% | $173,841,959▲13.0% | 990 |
| 2017 | $102,063,487▲3.2% | $101,604,547▲3.4% | $64,265,565▲5.0% | $153,848,514▲14.6% | 990 |
| 2016 | $98,900,491▲9.5% | $98,238,786▲9.7% | $61,192,119▲12.1% | $134,205,245▲11.1% | 990 |
| 2015 | $90,342,074▼3.8% | $89,573,168▼4.1% | $54,580,414▲8.7% | $120,826,077▲0.3% | 990 |
| 2014 | $93,887,731▲2.1% | $93,395,859▲2.2% | $50,211,508▲9.6% | $120,489,296▲3.3% | 990 |
| 2013 | $91,946,737 | $91,427,127▲12.7% | $45,819,636▲10.7% | $116,587,762▲13.1% | 990 |
| 2012 | — | $81,135,977▲8.3% | $41,400,026▲10.4% | $103,121,742▲12.1% | 990 |
| 2011 | — | $74,929,598▲12.1% | $37,493,488▲6.4% | $91,974,096▲10.2% | 990 |
| 2010 | — | $66,832,749 | $35,252,274 | $83,495,733 | 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: Matthew Washburn — $304,901 (0.27% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Matthew Washburn | Exec. Vp & General Manager | 44 | $304,901 |
| Jayme Huber | Vp of Engineering Services | 41 | $178,194 |
| Steve Spieler | Cio | 41 | $163,553 |
| Jane Scheitler | Cfo | 41 | $152,012 |
| Mark Nelson | Power Dispatching Manager | 41 | $138,999 |
| Michael J Persinger | Apparatus Services Manager | 41 | $137,272 |
| Thomas Berkenpas | Transmission Superintenden | 43 | $132,359 |
| Grant Oliver | Crew Foreman | 43 | $129,932 |
| Louis Reed | President | 10 | $17,750 |
| James Else | Director | 9 | $14,070 |
| Ronald Steinhoff | Vice President | 9 | $13,080 |
| Thomas Wagner | Treasurer | 8 | $11,260 |
| Brenda Lundergard | Director | 8 | $11,020 |
| Trent Will | Secretary | 7 | $9,750 |
| Bryan Greve | Director | 6 | $7,170 |
Top vendors & contractors (FY2024)
| Contractor | Services | Paid |
|---|---|---|
| Watts Electric Company | Transmission Line Construction | $9,010,688 |
| L&l Builders Co | Outpost Building Construction | $1,790,695 |
| N&m Power Company | Switch Station Construction | $359,242 |
| Schoon Construction Inc | Fiber Boring | $264,006 |
| Cardis Mfg Co Inc | Install Fencing | $172,465 |
Frequently asked questions
- Is Northwest Iowa Power Cooperative a legitimate nonprofit?
- Yes. Northwest Iowa Power Cooperative is a 501(c)(12) organization registered with the U.S. Internal Revenue Service under EIN 42-0723014, based in Le Mars, Iowa.
- What is Northwest Iowa Power Cooperative's EIN?
- Northwest Iowa Power Cooperative's Employer Identification Number (EIN) is 42-0723014.
- How much revenue does Northwest Iowa Power Cooperative report?
- Northwest Iowa Power Cooperative reported $114,611,981 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- What financial grade does Northwest Iowa Power Cooperative have?
- CharityIndex grades Northwest Iowa Power Cooperative A, based on financial health (reserves and operating margin).
- How much does Northwest Iowa Power Cooperative's highest-paid employee make?
- The highest reported compensation on Northwest Iowa Power Cooperative's latest Form 990 is $304,901, paid to Matthew Washburn (Exec. Vp & General Manager).
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Data for Northwest Iowa Power Cooperative (EIN 42-0723014) 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.