Wolverine Power Supply Cooperative Inc
501(c)(12)
Only null% goes to programs
Wolverine Power Supply Cooperative Inc is a 501(c)(12) organization based in Cadillac, Michigan, registered in 1951, with $544,868,259 in FY2024 revenue. CharityIndex grades it A.
10125 W Watergate Rd, Cadillac, MI, 49601 EIN 38-1326766 Since 1951
Revenue (FY2024)
$544.9M
▲ 0.9% vs prior year
Expenses (FY2024)
$544.9M
Net assets
$272.0M
Employees
198
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 Wolverine Power Supply 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 · +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 Wolverine Power Supply Cooperative Inc: 6 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 Wolverine Power Supply Cooperative Inc: 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 Wolverine Power Supply Cooperative Inc: 3 of 5 disclosure signals earns a B on this criterion. See the exact thresholds →
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Mission
To deliver reliable and competitively priced power, while providing exceptional service to our members.
Contact & location
Financial trends
Revenue grew from $376.5M (FY2013) to $544.9M (FY2024) across 12 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $890.5MNet assets $272.0M
Operating margin
0.0%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$1.2B
Total liabilities
$890.5M
Net assets
$272.0M
Salaries & benefits
$33.1M
6% of expenses
Board members
14
14 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $544,868,259▲0.9% | $544,868,259▲0.9% | $271,964,277▲9.1% | $1,162,477,220▲8.1% | 990 |
| 2023 | $540,004,811▼23.6% | $540,004,811▼23.4% | $249,167,052▲7.3% | $1,074,978,996▲2.7% | 990 |
| 2022 | $706,588,810▲27.0% | $704,772,082▲26.9% | $232,209,536▲5.6% | $1,046,991,533▲8.7% | 990 |
| 2021 | $556,306,485▲19.8% | $555,287,360▲19.9% | $219,949,225▲2.7% | $963,621,114▲5.3% | 990 |
| 2020 | $464,201,273▲6.5% | $463,058,988▲6.7% | $214,161,449▲1.0% | $915,295,568▲6.6% | 990 |
| 2019 | $435,826,214▼8.6% | $434,073,653▼8.7% | $212,109,125▲0.8% | $858,746,678▲10.3% | 990 |
| 2018 | $476,602,350▲9.9% | $475,561,367▲10.0% | $210,420,700▲2.2% | $778,347,522▲6.4% | 990 |
| 2017 | $433,603,930▲0.5% | $432,336,084▲2.7% | $205,841,164▲1.3% | $731,279,326▲0.6% | 990 |
| 2016 | $431,387,311▲10.8% | $420,844,287▲15.1% | $203,101,199▲1.2% | $726,863,919▼0.7% | 990 |
| 2015 | $389,169,068▼3.5% | $365,777,755▼5.3% | $200,769,263▲11.4% | $732,042,364▲17.6% | 990 |
| 2014 | $403,110,457▲7.1% | $386,387,241▲8.8% | $180,237,624▲5.0% | $622,631,088▼2.2% | 990 |
| 2013 | $376,476,436 | $355,224,866▼1.5% | $171,721,201▲11.7% | $636,905,682▲27.8% | 990 |
| 2012 | — | $360,682,714▲7.8% | $153,751,859▲13.2% | $498,341,082▲5.6% | 990 |
| 2011 | — | $334,687,290▲15.9% | $135,869,862▲7.6% | $472,088,417▲8.6% | 990 |
| 2010 | — | $288,731,432 | $126,307,243 | $434,706,997 | 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: Eric Baker — $971,232 (0.18% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Eric Baker | President & Ceo | 50 | $971,232 |
| Craig Borr | Executive Vice President | 4.8 | $499,526 |
| Joseph Baumann | Chief Legal Officer | 45 | $358,010 |
| Zachary Anderson | Chief Operating Officer | 50 | $353,716 |
| Kacy Wickenhauser | Chief Human Resources Officer | 50 | $276,940 |
| Daniel Calverley | Vp of Generation & Operations | 50 | $257,284 |
| Dustan Daniel | Vp of Accounting & Finance | 45 | $233,560 |
| Dawn Coon | Vp of Administration | 50 | $219,232 |
| Jeffrey Fisher | Operator I - Maintenance | 56.7 | $197,561 |
| John Brown | Director | 4.1 | $25,000 |
| Terry Lautner | Director | 2.8 | $25,000 |
| Ric Evans | Director | 3.1 | $23,500 |
| Mark Carson | Director | 1.7 | $22,000 |
| John Lord | Director | 1.3 | $21,500 |
| Paul Byl | Director / Secretary | 2.1 | $19,125 |
| Dave Schweitzer | Director (apr - Dec) | 0.9 | $17,500 |
| Sandra Borowicz | Director (jun - Dec) | 0.7 | $13,500 |
| Melinda Lautner | Director / Vice Chair | 3.2 | $12,500 |
| Shirley Sprague | Director / Treasurer | 2.1 | $12,100 |
| Rence Meredith | Director | 2.7 | $11,250 |
Top vendors & contractors (FY2024)
| Contractor | Services | Paid |
|---|---|---|
| Hydaker Wheatlake Co | Construction Services | $40,339,231 |
| Stuart C Irby Co | Electrical Contracting | $10,178,678 |
| Pete's Contracting Inc | Construction Services | $3,013,397 |
| General Electric Intl | Electrical Contracting | $2,819,026 |
| Turbine Technology Service | Engineering Consulting | $1,464,078 |
Grants made · $20K in FY2024
1 grant totaling $20K in FY2024. All grants made by Wolverine Power Supply Cooperative Inc →
| Recipient | Purpose | Amount |
|---|---|---|
| Lineman - Electrical Joint Apprenticeship and Training Tr Fun | General support | $20,000 |
Frequently asked questions
- Is Wolverine Power Supply Cooperative Inc a legitimate nonprofit?
- Yes. Wolverine Power Supply Cooperative Inc is a 501(c)(12) organization registered with the U.S. Internal Revenue Service under EIN 38-1326766, based in Cadillac, Michigan.
- What is Wolverine Power Supply Cooperative Inc's EIN?
- Wolverine Power Supply Cooperative Inc's Employer Identification Number (EIN) is 38-1326766.
- How much revenue does Wolverine Power Supply Cooperative Inc report?
- Wolverine Power Supply Cooperative Inc reported $544,868,259 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- What financial grade does Wolverine Power Supply Cooperative Inc have?
- CharityIndex grades Wolverine Power Supply Cooperative Inc A, based on financial health (reserves and operating margin).
- How much does Wolverine Power Supply Cooperative Inc's highest-paid employee make?
- The highest reported compensation on Wolverine Power Supply Cooperative Inc's latest Form 990 is $971,232, paid to Eric Baker (President & Ceo).
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Explore more
Data for Wolverine Power Supply Cooperative Inc (EIN 38-1326766) 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.