Mienergy Cooperative
- Assets
- $203.5m
- Revenue
- $76.7m
- Investments
- $175.1k
- Employees
- 80
- Location
- Rushford, MN
- Founding
- 03/1949
- Data as of
- 12/2021
- 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 12/2021, Mienergy Cooperative employed 80 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 12/2021, Mienergy Cooperative generated $76.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.2% each year. All expenses for the organization totaled $74.6m during the year ending 12/2021. While expenses have increased by 7.9% 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
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 19,062 MEMBERS AND MAINTAINED 5,561 MILES OF LINES PRIMARILY IN RURAL AREAS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brian Krambeer President/ceo | Officer | 50 | $301,038 |
Shelly Hove CFO | Officer | 50 | $159,539 |
Vassil Vutov VP Of Information Technology | 40 | $142,106 | |
Michael Walton VP Of System Operations | 40 | $129,409 | |
Steven Oian VP Of System Operations | 40 | $126,058 | |
Tyler Eide Journeyman Foreman | 40 | $109,084 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Dairyland Power Cooperative Line & Substation Upgrades/maintenance | 12/30/21 | $1,783,713 |
Highline Construction Inc Line Construction | 12/30/21 | $990,484 |
Tjader & Highstrom Utility Services Line Construction | 12/30/21 | $601,427 |
Asplundh Tree Expert Comp Tree Clearing | 12/30/21 | $1,003,778 |
West Union Trenching Llc Line Construction | 12/30/21 | $539,696 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,625,600 |
| 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 | $1,625,600 |
| Total Program Service Revenue | $74,844,158 |
| Investment income | $111,833 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $65,018 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $8,977 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $76,660,548 |
| 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 | $3,226,167 |
| Compensation of current officers, directors, key employees. | $842,272 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $6,333,617 |
| Pension plan accruals and contributions | $1,716,737 |
| Other employee benefits | $0 |
| Payroll taxes | $510,622 |
| 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 | $141,263 |
| 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 | $3,565,521 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,449,272 |
| Insurance | $164,237 |
| All other expenses | -$4,339,441 |
| Total functional expenses | $74,632,672 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $148,487 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $7,584,863 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,032,173 |
| Inventories for sale or use | $5,506,849 |
| Prepaid expenses and deferred charges | $1,510,060 |
| Net Land, buildings, and equipment | $145,046,674 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $175,133 |
| Investments—program-related | $35,161,203 |
| Intangible assets | $0 |
| Other assets | $7,295,867 |
| Total assets | $203,461,309 |
| Accounts payable and accrued expenses | $9,448,783 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $33,700 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $112,482,517 |
| Unsecured mortgages and notes payable | $600,000 |
| Other liabilities | $6,016,361 |
| Total liabilities | $128,581,361 |
| Net assets without donor restrictions | $74,879,948 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $203,461,309 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Mienergy Cooperative has recieved totaling $16,258.
| Awarding Organization | Amount |
|---|---|
National Rural Utilities Cooperative Finance Corp Dulles, VA PURPOSE: INTEGRITY FUND - TERRITORY THREAT | $16,258 |
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 |