Beltrami Electric Cooperative
- Assets
- $132.9m
- Revenue
- $58.7m
- Investments
- $3.8m
- Employees
- 79
- Location
- Bemidji, MN
- Founding
- 06/1946
- Data as of
- 12/2021
- EIN
- 41-0144943
Organization Overview
Beltrami Electric Cooperative is located in Bemidji, MN. The organization was established in 1946. According to its NTEE Classification (W80) the organization is classified as: Public Utilities, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2021, Beltrami Electric Cooperative employed 79 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Beltrami Electric Cooperative is a 501(c)(12) and as such, is described as a "Benevolent Life Insurance Association, Mutual Ditch or Irrigation Company, Mutual or Cooperative Telephone Company" by the IRS.
For the year ending 12/2021, Beltrami Electric Cooperative generated $58.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.2% each year. All expenses for the organization totaled $56.3m during the year ending 12/2021. While expenses have increased by 1.8% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE TAX-EXEMPT PURPOSE OF THE ORGANIZATION IS TO DELIVER ELECTRICITY TO MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED ENERGY TO 18,140 MEMBERS AND 21,937 CUSTOMERS.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jared Echternach CEO | Officer | 52 | $251,502 |
Richard Riewer Manager Of Engineering | 41 | $145,054 | |
Daniel Edens Manager Of Operations | 40 | $142,463 | |
Arlene Hogquist Director Of Finance & Corp | Officer | 47 | $139,307 |
Sam Mason Director Of Energy & Membe | 41 | $138,986 | |
Eric Splichal Lineman Foreman | 46 | $116,580 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Cooperative Development Llc 1831 Anne S Plowing, Boring, Cable Locating | 12/30/21 | $1,433,369 |
Central Applicators Inc 3190 Highway 2 Right Of Way Spraying & Clearing | 12/30/21 | $308,071 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $57,736,391 |
| Investment income | $199,942 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $19,122 |
| Net Gain/Loss on Asset Sales | $154 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $9,368 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $58,653,821 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $23,606 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $2,682,152 |
| Compensation of current officers, directors, key employees. | $603,513 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,285,139 |
| Pension plan accruals and contributions | $1,132,489 |
| Other employee benefits | $0 |
| Payroll taxes | $440,748 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $2,734,123 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,271,094 |
| Insurance | $0 |
| All other expenses | -$7,430,683 |
| Total functional expenses | $56,341,936 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $4,452,690 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $6,722,901 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,171,633 |
| Prepaid expenses and deferred charges | $1,124,318 |
| Net Land, buildings, and equipment | $107,526,813 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $3,755,765 |
| Investments—program-related | $8,182,738 |
| Intangible assets | $3,165 |
| Other assets | $8,120 |
| Total assets | $132,948,143 |
| Accounts payable and accrued expenses | $6,177,980 |
| Grants payable | $0 |
| Deferred revenue | $1,499,308 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $73,242,789 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,235,606 |
| Total liabilities | $82,155,683 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $850,775 |
| Paid-in or capital surplus, or land, building, or equipment fund | $22,976,601 |
| Retained earnings, endowment, accumulated income, or other funds | $26,965,084 |
| Total liabilities and net assets/fund balances | $132,948,143 |
Grants Awarded
Over the last fiscal year, Beltrami Electric Cooperative has awarded $11,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Bemidji, MN PURPOSE: PROGRAM SUPPORT | $6,000 |
Sioux Falls, SD PURPOSE: PROGRAM SUPPORT | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Nodak Electric Cooperative Inc Grand Forks, ND | $162,149,817 | $119,843,322 |
Wright-Hennepin Cooperative Electric Association Rockford, MN | $233,547,306 | $112,957,716 |
Northwest Iowa Power Cooperative Le Mars, IA | $209,144,882 | $97,805,529 |
Minnesota Valley Electric Cooperative Jordan, MN | $225,562,606 | $97,633,848 |
Sioux Valley-Southwestern Electric Cooperative Inc Colman, SD | $299,619,509 | $95,033,427 |
Lake Country Power Cohasset, MN | $343,138,601 | $92,478,659 |
Crow Wing Cooperative Power & Light Company Brainerd, MN | $238,884,299 | $79,431,443 |
Roughrider Electric Cooperative Inc Hazen, ND | $306,147,341 | $78,571,891 |
Mienergy Cooperative Rushford, MN | $203,461,309 | $76,660,548 |
Adams-Columbia Electric Co-Op Friendship, WI | $247,246,792 | $77,428,375 |
Stearns Cooperative Electric Association Melrose, MN | $153,957,017 | $65,381,947 |
Iowa Lakes Electric Cooperative Estherville, IA | $166,721,612 | $65,953,608 |