Mienergy Cooperative
- Assets
- $226.0m
- Revenue
- $82.5m
- Investments
- $692.7k
- Employees
- 78
- Location
- Rushford, MN
- Founding
- 03/1949
- Data as of
- 12/2023
- EIN
- 41-0254835
Organization Overview
Mienergy Cooperative is located in Rushford, MN. The organization was established in 1949. 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 12/2023, Mienergy Cooperative employed 78 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mienergy 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 12/2023, Mienergy Cooperative generated $82.5m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 7.2% each year. All expenses for the organization totaled $81.9m during the year ending 12/2023. While expenses have increased by 7.2% per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO DELIVER HIGH-QUALITY ENERGY SERVICES AT REASONABLE PRICES AND MAXIMIZE VALUE TO OUR MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED ELECTRIC SERVICE TO APPROXIMATELY 19,223 MEMBERS AND MAINTAINED 5,579 MILES OF LINES PRIMARILY IN RURAL AREAS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dean Nierling President | OfficerTrustee | 7 | $20,300 |
Ronald Stevens Vice President | OfficerTrustee | 8 | $17,675 |
Don Petersen Treasurer | OfficerTrustee | 11 | $20,075 |
Dennis Ptacek Secretary | OfficerTrustee | 9 | $17,911 |
Kyle Holthaus Director | Trustee | 10 | $17,375 |
Beth Olson Director | Trustee | 9 | $19,025 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Riggs Tree Service Llc Tree Clearing | 12/30/23 | $856,049 |
Dairyland Power Cooperative Line, Sub Upgrades,printing Svcs | 12/30/23 | $1,412,915 |
Asplundh Tree Expert Comp Tree Clearing | 12/30/23 | $738,607 |
Highline Construction Inc Line Construction | 12/30/23 | $760,907 |
106 Group Inc Environmental Review | 12/30/23 | $697,993 |
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 | $82,106,413 |
| Investment income | $276,628 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $142,050 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$14,915 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $82,515,576 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $5,346,868 |
| Compensation of current officers, directors, key employees. | $914,476 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $6,874,940 |
| Pension plan accruals and contributions | $2,066,477 |
| Other employee benefits | $0 |
| Payroll taxes | $555,540 |
| 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 | $163,735 |
| 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 | $3,797,192 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $7,161,102 |
| Insurance | $191,418 |
| All other expenses | -$3,242,151 |
| Total functional expenses | $81,851,864 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $905,244 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $8,640,649 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $300,000 |
| Inventories for sale or use | $9,342,655 |
| Prepaid expenses and deferred charges | $773,762 |
| Net Land, buildings, and equipment | $155,656,900 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $692,654 |
| Investments—program-related | $40,975,651 |
| Intangible assets | $0 |
| Other assets | $8,725,451 |
| Total assets | $226,012,966 |
| Accounts payable and accrued expenses | $8,954,492 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $40,193 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $124,341,621 |
| Unsecured mortgages and notes payable | $3,700,000 |
| Other liabilities | $7,656,861 |
| Total liabilities | $144,693,167 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $81,319,799 |
| Total liabilities and net assets/fund balances | $226,012,966 |