Northwest Iowa Power Cooperative
- Assets
- $209.1m
- Revenue
- $97.8m
- Investments
- $744.4k
- Employees
- 51
- Location
- Le Mars, IA
- Founding
- 09/1958
- Data as of
- 12/2021
- EIN
- 42-0723014
Organization Overview
Northwest Iowa Power Cooperative is located in Le Mars, IA. The organization was established in 1958. 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, Northwest Iowa Power Cooperative employed 51 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Northwest Iowa Power 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, Northwest Iowa Power Cooperative generated $97.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.1% each year. All expenses for the organization totaled $97.3m during the year ending 12/2021. While expenses have increased by 1.2% 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
WHOLESALE ELECTRICITY SALES TO ITS MEMBER COOPERATIVES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
NIPCO IS A WHOLESALE POWER SUPPLIER TO SIX RURAL ELECTRIC DISTRIBUTION COOPERATIVES AND ONE MUNICIPAL COOPERATIVE COMPRISED OF SEVEN CITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Matthew Washburn Exec. VP And General Manager | Officer | 43 | $244,152 |
Jayme Huber VP Of Engineering Services | 41 | $145,880 | |
Steve Spieler Cio | 42 | $134,176 | |
Jane Scheitler CFO | Officer | 41 | $124,385 |
Steve Harringa Transmission Superintendent | 43 | $117,096 | |
Michael J Persinger Apparatus Services Manager | 42 | $116,437 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Watts Electric Company Transmission Line Construction | 12/30/21 | $6,003,661 |
Primoris T&d Service Switch Station Construction | 12/30/21 | $709,033 |
Paul Hastings Legal Services | 12/30/21 | $296,543 |
Dgr Engineering Engineering Services | 12/30/21 | $421,231 |
N&m Power Company Substation Construction | 12/30/21 | $191,776 |
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 | $96,841,598 |
| Investment income | $106,642 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $165,945 |
| Net Gain/Loss on Asset Sales | $3,829 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $97,805,529 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $6,523 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $4,456,500 |
| Compensation of current officers, directors, key employees. | $569,636 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,106,529 |
| Pension plan accruals and contributions | $655,020 |
| Other employee benefits | $0 |
| Payroll taxes | $336,949 |
| 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 | $3,920,613 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,837,165 |
| Insurance | $0 |
| All other expenses | $350,578 |
| Total functional expenses | $97,310,307 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $6,742,339 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,306,718 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $825,381 |
| Inventories for sale or use | $5,074,313 |
| Prepaid expenses and deferred charges | $1,053,220 |
| Net Land, buildings, and equipment | $131,382,182 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $744,379 |
| Investments—program-related | $57,952,043 |
| Intangible assets | $41,689 |
| Other assets | $22,618 |
| Total assets | $209,144,882 |
| Accounts payable and accrued expenses | $13,382,322 |
| Grants payable | $0 |
| Deferred revenue | $102,081 |
| 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 | $109,839,429 |
| Unsecured mortgages and notes payable | $3,353,402 |
| Other liabilities | $761,795 |
| Total liabilities | $127,439,029 |
| 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 | $81,705,853 |
| Total liabilities and net assets/fund balances | $209,144,882 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Dairyland Power Cooperative La Crosse, WI | $1,543,973,952 | $466,517,279 |
East River Electric Power Cooperative Inc Madison, SD | $750,935,062 | $299,322,334 |
Nebraska Electric Generation And Transmission Cooperative Inc Columbus, NE | $24,698,351 | $237,875,387 |
Central Electric Power Cooperative Jefferson City, MO | $478,589,080 | $224,762,707 |
Dakota Electric Association Farmington, MN | $386,937,429 | $228,776,645 |
Central Iowa Power Cooperative Cedar Rapids, IA | $899,434,034 | $189,203,690 |
National Electrical Contractors Association Inc Kansas City, MO | $2,543,076 | $175,759,939 |
Corn Belt Power Cooperative Humboldt, IA | $515,608,745 | $168,893,187 |
Southern Illinois Power Cooperative Marion, IL | $684,387,502 | $167,555,011 |
Prairie Power Inc Springfield, IL | $704,846,695 | $159,851,306 |
Citizens Electric Corporation Perryville, MO | $190,238,434 | $155,506,076 |
Cuivre River Electric Cooperative Incorporated Troy, MO | $339,510,149 | $127,588,100 |