Runestone Electric Community Trust
- Assets
- $9.3k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Alexandria, MN
- Founding
- 04/2003
- Data as of
- 12/2022
- EIN
- 72-1541236
Organization Overview
Runestone Electric Community Trust is located in Alexandria, MN. The organization was established in 2003. According to its NTEE Classification (W80) the organization is classified as: Public Utilities, under the broad grouping of Public & Societal Benefit and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Runestone Electric Community Trust is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, Runestone Electric Community Trust generated $57.2k in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (1.0%) each year. All expenses for the organization totaled $62.8k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (0.6%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3
THE ORGANIZATION DISBURSED 147 GRANTS TOTALING $60,600 TO 124 COMMUNITY GROUPS. THESE GRANTS ARE USED FOR SUCH PURPOSES AS FIRE DEPARTMENT EQUIPMENT, FOOD SHELVES, DISABILITY PROGRAMS, YOUTH ACTIVITIES AND SENIOR PROJECTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Barry Wahlberg Vice President | 0.5 | $0 | |
Janet Johnson Treasurer | 0.5 | $0 | |
Mary Betterman Director | 0.5 | $0 | |
David Lundy Director | 0.5 | $0 | |
Jeff Gaffaney President | 0.5 | $0 | |
Richard Duncan Director | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $57,238 |
| Total Program Service Revenue | $0 |
| Membership dues | $0 |
| Investment income | $0 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $57,238 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $0 |
| Professional fees and other payments to independent contractors | $1,088 |
| Occupancy, rent, utilities, and maintenance | $0 |
| Printing, publications, postage, and shipping | $276 |
| Other expenses | $823 |
| Total expenses | $62,787 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $9,269 |
| Other assets | $0 |
| Total assets | $9,269 |
| Total liabilities | $0 |
| Net assets or fund balances | $9,269 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Taylor Electric Cooperative Medford, WI | $26,668,317 | $9,925,424 |
Grundy County Rural Electric Cooperative Grundy Center, IA | $25,480,735 | $9,712,208 |
North Itasca Electric Coop Inc Bigfork, MN | $32,719,376 | $9,276,458 |
Woodbury Co Rural Electric Cooperative Moville, IA | $29,447,926 | $9,801,005 |
Clay-Union Electric Corporation Vermillion, SD | $38,295,961 | $9,060,805 |
Rosebud Electric Cooperative Inc Gregory, SD | $32,506,970 | $8,797,386 |
Franklin Rural Electric Coop Hampton, IA | $19,806,688 | $8,127,748 |
Rushmore Electric Power Cooperative Inc Rapid City, SD | $66,615,714 | $7,530,453 |
Richland Electric Cooperative Richland Center, WI | $27,318,323 | $8,213,321 |
Cam Wal Electric Cooperative Inc Selby, SD | $28,154,586 | $7,408,612 |
Butte Electric Cooperative Inc Newell, SD | $66,049,241 | $8,524,779 |
Pella Cooperative Electric Association Pella, IA | $28,046,134 | $7,320,362 |