Stearns Cooperative Electric Association
501(c)(12)
Only null% goes to programs Strong reserves
Stearns Cooperative Electric Association is a 501(c)(12) organization based in Melrose, Minnesota, registered in 1939, with $71,510,283 in FY2024 revenue. CharityIndex grades it A.
700 Kraft Dr Se, Melrose, MN, 56352 EIN 41-0558175 Since 1939
Revenue (FY2024)
$71.5M
▲ 3.7% vs prior year
Expenses (FY2024)
$71.5M
Net assets
$83.7M
Employees
86
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 Stearns Cooperative Electric Association— 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 rating14 mo reserves · +0% 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 Stearns Cooperative Electric Association: 14 mo reserves · +0% 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 Stearns Cooperative Electric Association: 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 Stearns Cooperative Electric Association: 3 of 5 disclosure signals earns a B on this criterion. See the exact thresholds →
Show this grade on your website
A live seal — it updates automatically when the grade changes and links donors to this verified profile.
Mission
Generation and purchase of electricity for distribution on a cooperative basis to members.
Contact & location
Financial trends
Revenue grew from $57.8M (FY2016) to $71.5M (FY2024) across 9 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $106.8MNet assets $83.7M
Operating margin
0.0%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$190.4M
Total liabilities
$106.8M
Net assets
$83.7M
Salaries & benefits
$840K
1% of expenses
Board members
9
9 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $71,510,283▲3.7% | $71,510,283▲3.7% | $83,659,005▲5.7% | $190,422,858▲15.8% | 990 |
| 2023 | $68,934,211▲7.1% | $68,934,211▲7.1% | $79,143,871▲4.5% | $164,428,387▲4.1% | 990 |
| 2022 | $64,351,952▼1.6% | $64,351,952▼1.6% | $75,719,079▲2.9% | $157,900,352▲2.6% | 990 |
| 2021 | $65,381,947▲6.7% | $65,381,947▲6.7% | $73,571,833▲4.9% | $153,957,017▲4.2% | 990 |
| 2020 | $61,265,048▲0.6% | $61,265,048▲0.6% | $70,155,116▲2.7% | $147,743,922▲4.0% | 990 |
| 2019 | $60,899,451▲0.9% | $60,899,451▲0.9% | $68,305,177▲3.6% | $142,108,580▲3.3% | 990 |
| 2018 | $60,381,799▲3.5% | $60,381,799▲3.5% | $65,907,383▲3.9% | $137,573,482▲1.4% | 990 |
| 2017 | $58,362,370▲1.0% | $58,362,370▲1.0% | $63,430,944▲4.0% | $135,608,005▲1.9% | 990 |
| 2016 | $57,760,775 | $57,760,775 | $60,984,486 | $133,142,416 | 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 O'shea — $280,547 (0.39% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Matthew O'shea | Ceo | 45 | $280,547 |
| Victoria A Herkenhoff | Vp of Administration and Finance | 45 | $192,344 |
| Glenn Blommel | Manager of Operations | 48 | $176,921 |
| Ryan Zierden | Manager of It | 50 | $163,745 |
| Cindy Anderson | Manager of Finance | 45 | $149,559 |
| James Turner | Manager of Engineering | 43 | $147,008 |
| Jacob Ronning | Jouneyman Lineman | 47.27 | $142,966 |
| Eric Peterson | President | 8 | $21,050 |
| Michael Cramer | Secretary/treasurer | 7 | $20,550 |
| Scott Dirkes | Director | 8 | $18,500 |
| Randall Rothstein | Vice President | 5 | $17,000 |
| Arlyn Lawrenz | Director | 8 | $16,000 |
| Greg Blaine | Director | 5 | $16,000 |
| Jerome Fries | Director | 7 | $16,000 |
| Robert Niehaus | Director | 6 | $16,000 |
| Jeff Koehler | Director | 6 | $15,750 |
Top vendors & contractors (FY2024)
| Contractor | Services | Paid |
|---|---|---|
| Carr's Tree Service | Tree Clearing | $1,787,477 |
| Glt Architects (glta) | Architect Services | $994,236 |
| Integrity Contracting Inc | Underground Power Line Utility Contracti | $927,885 |
| National Info Solution Coop | Software Service Support | $483,340 |
| Johnson Locating Service Inc | Cable Locates | $270,976 |
Frequently asked questions
- Is Stearns Cooperative Electric Association a legitimate nonprofit?
- Yes. Stearns Cooperative Electric Association is a 501(c)(12) organization registered with the U.S. Internal Revenue Service under EIN 41-0558175, based in Melrose, Minnesota.
- What is Stearns Cooperative Electric Association's EIN?
- Stearns Cooperative Electric Association's Employer Identification Number (EIN) is 41-0558175.
- How much revenue does Stearns Cooperative Electric Association report?
- Stearns Cooperative Electric Association reported $71,510,283 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- What financial grade does Stearns Cooperative Electric Association have?
- CharityIndex grades Stearns Cooperative Electric Association A, based on financial health (reserves and operating margin).
- How much does Stearns Cooperative Electric Association's highest-paid employee make?
- The highest reported compensation on Stearns Cooperative Electric Association's latest Form 990 is $280,547, paid to Matthew O'shea (Ceo).
More nonprofits in Melrose
Explore more
Data for Stearns Cooperative Electric Association (EIN 41-0558175) 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.