Clearwater-Polk Electric Cooperative Inc

Organization Overview

Clearwater-Polk Electric Cooperative Inc is located in Bagley, MN. The organization was established in 1954. 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, Clearwater-Polk Electric Cooperative Inc employed 19 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Clearwater-Polk 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, Clearwater-Polk Electric Cooperative Inc generated $10.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.9% each year. All expenses for the organization totaled $10.0m during the year ending 12/2021. While expenses have increased by 1.7% 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

ELECTRICAL DISTRIBUTION COOPERATIVE WITH SALE OF ELECTRICITY TO APPROXIMATELY 4,504 MEMBERS.

Describe the Organization's Program Activity:

Part 3 - Line 4a

SALE OF ELECTRICITY TO APPROXIMATELY 4,504 MEMBERS.


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Board, Officers & Key Employees

Name (title)Compensation
Deanna Lefebvre
General Manager
$127,867
Todd Waggoner
Operations Manager
$95,757
Angela Schneider
Office And Finance Manager
$55,608
Harlan Highberg
Treasurer/director
$6,575
Greg Spaulding
President/director
$5,875
Bill Lanners
Director
$4,500

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$10,007,415
Investment income $15,082
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 $108
Miscellaneous Revenue$0
Total Revenue $10,431,714

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