Skip to content
Nonprofiteer
← GOODHUE COUNTY COOPERATIVE ELECTRIC ASSOCIATION

Form 990 for tax year 2024

Filed by GOODHUE COUNTY COOPERATIVE ELECTRIC ASSOCIATION.

Totals

Total revenue
$14,014,750
Total expenses
$13,960,502
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$13,971,887
Investment income
$42,863
Other revenue
$0
Total assets, end of year
$45,187,806
Total liabilities, end of year
$31,078,927
Net assets or fund balances, end of year
$14,108,879
Program services expenses (Part IX)
$0
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
not reported

Program services were 0.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 2a · Program service revenue: ELECTRIC

    total $13,481,442 · related or exempt $13,481,442

  • 2b · Program service revenue: G&T CAPITAL CREDITS

    total $257,825 · related or exempt $257,825

  • 2c · Program service revenue: OTHER CAPITAL CREDITS

    total $97,754 · related or exempt $97,754

  • 2d · Program service revenue: COMMISSION REVENUES

    total $81,090 · unrelated business $81,090

  • 2e · Program service revenue: OTHER

    total $51,682 · related or exempt $51,682

  • 2f · All other program service revenue

    total $2,094 · excluded $2,094

  • 3 · Investment income

    total $26,815 · excluded $26,815

  • 7a · Gross sales of assets other than inventory

    other assets $16,048

  • 7c · Gain or loss

    other assets $16,048

  • 7d · Net gain or loss

    total $16,048 · related or exempt $16,048

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $220,476

  • 5 · Compensation of officers, directors and key employees

    total $286,824

  • 20 · Interest

    total $817,556

  • 22 · Depreciation, depletion and amortization

    total $1,574,666

  • 24a · Other expenses: COST OF POWER

    total $8,306,125

  • 24b · Other expenses: DISTRIBUTION - MAINTENANC

    total $1,024,948

  • 24c · Other expenses: DISTRIBUTION - OPERATIONS

    total $892,004

  • 24d · Other expenses: ADMINISTRATIVE AND GENERA

    total $704,802

  • 24e · All other expenses

    total $133,101

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $918,381 · end of year $963,241

  • 4 · Accounts receivable

    beginning of year $2,006,112 · end of year $2,123,474

  • 8 · Inventories for sale or use

    beginning of year $389,796 · end of year $507,828

  • 9 · Prepaid expenses and deferred charges

    beginning of year $752,573 · end of year $668,295

  • 10a · Land, buildings and equipment: cost or other basis

    $49,538,640

  • 10b · Land, buildings and equipment: accumulated depreciation

    $16,313,360

  • 10c · Land, buildings and equipment, net

    beginning of year $31,502,434 · end of year $33,225,280

  • 13 · Investments: program-related

    beginning of year $7,463,175 · end of year $7,558,463

  • 15 · Other assets

    beginning of year $127,602 · end of year $141,225

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,624,554 · end of year $2,717,049

  • 23 · Secured mortgages and notes payable

    beginning of year $25,824,392 · end of year $28,188,678

  • 25 · Other liabilities

    beginning of year $443,844 · end of year $173,200

  • 31 · Retained earnings, endowment or other funds

    beginning of year $14,267,283 · end of year $14,108,879

Mission and programs · 2024

Mission

TO BE THE PROVIDER OF CHOICE FOR RELIABLE, COMPETITIVELY PRICED ENERGY AND OTHER SERVICES THAT BENEFIT THE COOPERATIVE MEMBERS.

  • RURAL ELECTRIC COOPERATIVE PROVIDED ELECTRICAL POWER TO 5,274 RURAL MEMBERS DURING THE YEAR.

As filed on the 2024 return.

Listed in Part VII

  • Timothy Krohn

    LINE SUPERIN

    Total calculated
    $216,686
    From this org
    $119,692
    From related orgs
    $0
    Other
    $96,994
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $119,692
    Bonus
    not reported
    Other
    not reported
    Deferred
    $57,719
    Nontaxable benefits
    $39,275
    Filer's total
    $216,686

  • Christopher Olson

    FOREMAN

    Total calculated
    $190,895
    From this org
    $120,599
    From related orgs
    $0
    Other
    $70,296
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $120,599
    Bonus
    not reported
    Other
    not reported
    Deferred
    $36,645
    Nontaxable benefits
    $33,651
    Filer's total
    $190,895

  • Kelly Hovel

    GENERAL MANA

    Total calculated
    $186,173
    From this org
    $142,797
    From related orgs
    $0
    Other
    $43,376
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $142,797
    Bonus
    not reported
    Other
    not reported
    Deferred
    $25,434
    Nontaxable benefits
    $17,942
    Filer's total
    $186,173

  • Allen Jantzen

    FOREMAN

    Total calculated
    $166,127
    From this org
    $129,101
    From related orgs
    $0
    Other
    $37,026
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $129,101
    Bonus
    not reported
    Other
    not reported
    Deferred
    $21,771
    Nontaxable benefits
    $15,255
    Filer's total
    $166,127

  • Ryne McNamara

    LINEMAN

    Total calculated
    $163,216
    From this org
    $118,192
    From related orgs
    $0
    Other
    $45,024
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $118,192
    Bonus
    not reported
    Other
    not reported
    Deferred
    $12,729
    Nontaxable benefits
    $32,295
    Filer's total
    $163,216

  • Kyle Lodermeier

    LINEMAN

    Total calculated
    $158,423
    From this org
    $114,128
    From related orgs
    $0
    Other
    $44,295
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $114,128
    Bonus
    not reported
    Other
    not reported
    Deferred
    $10,225
    Nontaxable benefits
    $34,070
    Filer's total
    $158,423

  • Amber Gesme

    FINANCE MANA

    Total calculated
    $147,777
    From this org
    $102,528
    From related orgs
    $0
    Other
    $45,249
    Hours/week
    40

  • Darla Vieths

    DIRECTOR

    Total calculated
    $6,200
    From this org
    $6,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • David Hernke

    PRESIDENT

    Total calculated
    $5,000
    From this org
    $5,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Gene Bang

    DIRECTOR

    Total calculated
    $4,900
    From this org
    $4,900
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Larry Jensen

    DIRECTOR

    Total calculated
    $4,800
    From this org
    $4,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Jim Dicke

    SECRETARY

    Total calculated
    $4,400
    From this org
    $4,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Gary Esterby

    VICE PRESIDE

    Total calculated
    $4,400
    From this org
    $4,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Edward Bauman

    DIRECTOR

    Total calculated
    $4,200
    From this org
    $4,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Donnell Buck

    DIRECTOR

    Total calculated
    $4,000
    From this org
    $4,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Paul Huneke

    TREASURER

    Total calculated
    $3,600
    From this org
    $3,600
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2024
Filed
6 May 2025
IRS schema version
2024v5.0
Source object
202521259349302927

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.