Roseau Electric Cooperative Inc
- Assets
- $41.6m
- Revenue
- $19.5m
- Investments
- $0.0
- Employees
- 35
- Location
- Roseau, MN
- Founding
- 07/1945
- Data as of
- 12/2021
- EIN
- 41-0510033
Organization Overview
Roseau Electric Cooperative Inc is located in Roseau, MN. The organization was established in 1945. 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, Roseau Electric Cooperative Inc employed 35 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Roseau Electric Cooperative Inc 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, Roseau Electric Cooperative Inc generated $19.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.7% each year. All expenses for the organization totaled $18.6m during the year ending 12/2021. While expenses have increased by 0.4% 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 ELECTRICITY TO MEMBERS
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE COOPERATIVE DELIVERS ELECTRIC ENERGY TO ITS 6,636 MEMBERS. THE COOPERATIVE SERVES 2,175 MILES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tracey Stoll General Manager | Officer | 40 | $158,700 |
Ryan Severson Assistant Manager | Officer | 40 | $138,463 |
Michael Millner Line Superintendent | 40 | $116,009 | |
Dale Moser Director | Trustee | 3.1 | $4,150 |
Shawn Gust Director | Trustee | 6.8 | $4,150 |
Wes Mcfarlane Secretary/treasurer | OfficerTrustee | 2.7 | $3,950 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $218,414 |
| 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 | $218,414 |
| Total Program Service Revenue | $19,262,938 |
| Investment income | $31,656 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $19,513,008 |
| 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 | $248,905 |
| Compensation of current officers, directors, key employees. | $456,479 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,063,321 |
| Pension plan accruals and contributions | $607,603 |
| Other employee benefits | $0 |
| Payroll taxes | $179,879 |
| 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 | $733,696 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,010,756 |
| Insurance | $0 |
| All other expenses | -$3,195,800 |
| Total functional expenses | $18,596,565 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,286,625 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,261,516 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $2,404,362 |
| Prepaid expenses and deferred charges | $207,658 |
| Net Land, buildings, and equipment | $31,542,135 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $3,917,367 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $41,619,663 |
| Accounts payable and accrued expenses | $2,077,032 |
| Grants payable | $0 |
| Deferred revenue | $266,190 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $6,841 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $18,904,316 |
| Unsecured mortgages and notes payable | $300,000 |
| Other liabilities | $142,414 |
| Total liabilities | $21,696,793 |
| 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 | $19,922,870 |
| Total liabilities and net assets/fund balances | $41,619,663 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Blue Earth Nicollet Faribault Cooperative Electric Association Mankato, MN | $118,260,844 | $45,959,324 |
Capital Electric Cooperative Inc Bismarck, ND | $133,692,620 | $42,124,624 |
Oakdale Electric Cooperative Oakdale, WI | $108,949,694 | $41,848,166 |
Barron Electric Cooperative Barron, WI | $83,238,959 | $40,823,389 |
Northern Plains Electric Cooperative Carrington, ND | $137,367,234 | $41,884,973 |
Garden Valley Telephone Company Erskine, MN | $115,867,634 | $40,536,799 |
Riverland Energy Cooperative Arcadia, WI | $120,553,523 | $39,958,076 |
West River Electric Association Inc Wall, SD | $136,764,788 | $38,874,089 |
District Energy St Paul Inc St Paul, MN | $133,953,246 | $38,563,375 |
Steele Waseca Cooperative Electric Owatonna, MN | $93,180,056 | $37,750,212 |
Maquoketa Valley Rural Electric Cooperative Anamosa, IA | $145,482,750 | $38,262,856 |
Access Energy Cooperative Mt Pleasant, IA | $101,668,176 | $38,281,251 |