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Nonprofiteer
← MIENERGY COOPERATIVE

Form 990 for tax year 2024

Filed by MIENERGY COOPERATIVE.

Totals

Total revenue
$84,435,068
Total expenses
$83,129,549
Contributions and grants received
$0
Grants paid
$77,723
Program service revenue
$82,992,763
Investment income
$422,123
Other revenue
$1,020,182
Total assets, end of year
$239,832,669
Total liabilities, end of year
$155,588,535
Net assets or fund balances, end of year
$84,244,134
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
not reported

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: OPERATING REVENUES

    total $80,357,592 · related or exempt $80,357,592

  • 2b · Program service revenue: CAPITAL CREDITS

    total $2,746,960 · related or exempt $2,746,960

  • 2c · Program service revenue: EQUITY EARNINGS

    total -$111,789 · related or exempt $38,165 · unrelated business -$149,954

  • 3 · Investment income

    total $305,840 · excluded $305,840

  • 7a · Gross sales of assets other than inventory

    other assets $168,704

  • 7b · Less cost or other basis and sales expenses

    other assets $52,421

  • 7c · Gain or loss

    other assets $116,283

  • 7d · Net gain or loss

    total $116,283 · excluded $116,283

  • 10a · Gross sales of inventory

    $841,339

  • 10b · Cost of goods sold

    $818,934

  • 10c · Net income from sales of inventory

    total $22,405 · related or exempt -$1,475 · unrelated business $23,880

  • 11a · Other revenue: OTHER NONOPERATING MARGINS

    total $997,777 · related or exempt $997,777

  • 11e · Other revenue, total

    $997,777

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $13,723

  • 2 · Grants to domestic individuals

    total $64,000

  • 4 · Benefits paid to or for members

    total $3,694,711

  • 5 · Compensation of officers, directors and key employees

    total $979,400

  • 7 · Other salaries and wages

    total $7,301,040

  • 8 · Pension plan contributions

    total $2,186,380

  • 9 · Other employee benefits

    total $586,316

  • 12 · Advertising and promotion

    total $168,875

  • 20 · Interest

    total $4,187,454

  • 22 · Depreciation, depletion and amortization

    total $7,651,312

  • 23 · Insurance

    total $243,037

  • 24a · Other expenses: COST OF POWER

    total $49,831,068

  • 24b · Other expenses: DISTRIBUTION - MAINTENA

    total $5,558,175

  • 24c · Other expenses: DISTRIBUTION - OPERATIO

    total $4,483,940

  • 24d · Other expenses: UBI TAXES

    total $25,000

  • 24e · All other expenses

    total -$3,844,882

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $905,244 · end of year $1,788,915

  • 4 · Accounts receivable

    beginning of year $8,640,649 · end of year $11,031,870

  • 7 · Other notes and loans receivable

    beginning of year $300,000

  • 8 · Inventories for sale or use

    beginning of year $9,342,655 · end of year $12,076,966

  • 9 · Prepaid expenses and deferred charges

    beginning of year $773,762 · end of year $670,934

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

    $231,636,448

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

    $73,801,993

  • 10c · Land, buildings and equipment, net

    beginning of year $155,656,900 · end of year $157,834,455

  • 12 · Investments: other securities

    beginning of year $692,654 · end of year $837,893

  • 13 · Investments: program-related

    beginning of year $40,975,651 · end of year $46,587,884

  • 15 · Other assets

    beginning of year $8,725,451 · end of year $9,003,752

  • 17 · Accounts payable and accrued expenses

    beginning of year $8,954,492 · end of year $9,656,672

  • 21 · Escrow or custodial account liability

    beginning of year $40,193 · end of year $38,379

  • 23 · Secured mortgages and notes payable

    beginning of year $124,341,621 · end of year $137,672,589

  • 24 · Unsecured notes and loans payable

    beginning of year $3,700,000 · end of year $2,750,000

  • 25 · Other liabilities

    beginning of year $7,656,861 · end of year $5,470,895

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $81,319,799 · end of year $84,244,134

Mission and programs · 2024

Mission

TO DELIVER HIGH-QUALITY ENERGY SERVICES AT REASONABLE PRICES AND MAXIMIZE VALUE TO OUR MEMBERS CONSISTENT WITH THE WISE USE OF RESOURCES.

Activities or mission (Part I)

TO DELIVER HIGH-QUALITY ENERGY SERVICES AT REASONABLE PRICES AND MAXIMIZE VALUE TO OUR MEMBERS.

  • PROVIDED ELECTRIC SERVICE TO APPROXIMATELY 19,297 MEMBERS AND MAINTAINED 5,592 MILES OF LINES PRIMARILY IN RURAL AREAS.

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Dean Nierling

    PRESIDENT

    Total calculated
    $19,700
    From this org
    $19,700
    From related orgs
    $0
    Other
    $0
    Hours/week
    9

  • Ronald Stevens

    VICE PRESIDENT

    Total calculated
    $16,175
    From this org
    $16,175
    From related orgs
    $0
    Other
    $0
    Hours/week
    9

  • Don Petersen

    TREASURER

    Total calculated
    $19,625
    From this org
    $19,625
    From related orgs
    $0
    Other
    $0
    Hours/week
    11

  • Dennis Ptacek

    SECRETARY

    Total calculated
    $17,245
    From this org
    $17,245
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Kyle Holthaus

    DIRECTOR

    Total calculated
    $16,175
    From this org
    $16,175
    From related orgs
    $0
    Other
    $0
    Hours/week
    9

  • Beth Olson

    DIRECTOR

    Total calculated
    $19,175
    From this org
    $19,175
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

  • Jeff Redalen

    DIRECTOR UNTIL 11/2024

    Total calculated
    $10,800
    From this org
    $10,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Carl Reicks

    DIRECTOR

    Total calculated
    $15,125
    From this org
    $15,125
    From related orgs
    $0
    Other
    $0
    Hours/week
    7

  • Jennifer Scharmer

    DIRECTOR

    Total calculated
    $17,875
    From this org
    $17,875
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Al Skip Wieser

    DIRECTOR

    Total calculated
    $12,875
    From this org
    $12,875
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Dennis Young

    DIRECTOR UNTIL 04/2024

    Total calculated
    $3,700
    From this org
    $3,700
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Brian Krambeer

    CEO

    Total calculated
    $529,651
    From this org
    $390,711
    From related orgs
    $0
    Other
    $138,940
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $359,029
    Bonus
    $31,079
    Other
    $603
    Deferred
    $119,526
    Nontaxable benefits
    $21,095
    Filer's total
    $531,332

  • Shelly Hove

    CFO

    Total calculated
    $293,493
    From this org
    $201,573
    From related orgs
    $0
    Other
    $91,920
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $201,323
    Bonus
    $0
    Other
    $250
    Deferred
    $66,509
    Nontaxable benefits
    $27,120
    Filer's total
    $295,202

  • Kent Whitcomb

    VP OF MEMBER SERVICES

    Total calculated
    $186,571
    From this org
    $129,927
    From related orgs
    $0
    Other
    $56,644
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $129,677
    Bonus
    $0
    Other
    $250
    Deferred
    $22,019
    Nontaxable benefits
    $36,081
    Filer's total
    $188,027

  • Michael Walton

    VP OF ENGINEERING & SYSTEM PLANNING

    Total calculated
    $274,640
    From this org
    $159,619
    From related orgs
    $0
    Other
    $115,021
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $159,369
    Bonus
    $0
    Other
    $250
    Deferred
    $84,162
    Nontaxable benefits
    $32,454
    Filer's total
    $276,235

  • Vassil Vutov

    VP OF INFORMATION TECHNOLOGY

    Total calculated
    $226,679
    From this org
    $163,392
    From related orgs
    $0
    Other
    $63,287
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $163,142
    Bonus
    $0
    Other
    $250
    Deferred
    $33,924
    Nontaxable benefits
    $30,958
    Filer's total
    $228,274

  • Steven Oian

    VP OF SYSTEM OPERATIONS

    Total calculated
    $239,512
    From this org
    $164,900
    From related orgs
    $0
    Other
    $74,612
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $164,350
    Bonus
    $0
    Other
    $550
    Deferred
    $45,072
    Nontaxable benefits
    $31,135
    Filer's total
    $241,107

  • Davin Thompson

    DIRECTOR OF OPERATIONS

    Total calculated
    $198,380
    From this org
    $121,302
    From related orgs
    $0
    Other
    $77,078
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $121,052
    Bonus
    $0
    Other
    $250
    Deferred
    $47,921
    Nontaxable benefits
    $30,530
    Filer's total
    $199,753

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 · Compensation survey or study
  • 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

The filer's explanations (Part III)

FORM 990, PART VII, SECTION A, LINE 5
PER THE INSTRUCTIONS, INCLUDED IN COLUMN (C) IS THE CHANGE IN ACTUARIAL VALUE OF THE DEFINED BENEFIT PLAN FOR 2024. THE CHANGE IN ACTUARIAL VALUE OF THE DEFINED BENEFIT PLAN FOR BRIAN KRAMBEER IS $102,447. THE ACTUAL DEFINED BENEFIT PLAN EXPENSE IS $91,188. THE CHANGE IN ACTUARIAL VALUE OF THE DEFINED BENEFIT PLAN FOR SHELLY HOVE IS $56,171. THE ACTUAL DEFINED BENEFIT PLAN EXPENSE IS $51,015. THE CHANGE IN ACTUARIAL VALUE OF THE DEFINED BENEFIT PLAN FOR VASSIL VUTOV IS $25,685. THE ACTUAL DEFINED BENEFIT PLAN EXPENSE IS $43,724. THE CHANGE IN ACTUARIAL VALUE OF THE DEFINED BENEFIT PLAN FOR STEVEN OIAN IS $36,922. THE ACTUAL DEFINED BENEFIT PLAN EXPENSE IS $43,182. THE CHANGE IN ACTUARIAL VALUE OF THE DEFINED BENEFIT PLAN FOR MICHAEL WALTON IS $75,863. THE ACTUAL DEFINED BENEFIT PLAN EXPENSE IS $43,193. THE CHANGE IN ACTUARIAL VALUE OF THE DEFINED BENEFIT PLAN FOR KENT WHITCOMB IS $15,009. THE ACTUAL DEFINED BENEFIT PLAN EXPENSE IS $36,614. THE CHANGE IN ACTUARIAL VALUE OF THE DEFINED BENEFIT PLAN FOR DAVIN THOMPSON IS $41,622. THE ACTUAL DEFINED BENEFIT PLAN EXPENSE IS $33,528.

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.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

  • MIENERGY TRUST

    501(C)(3) · GRANTING ORGANIZATION · MN · controlled entity

    Directly controlled by MIENERGY

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • MINNESOTA THREE LLC

    UNRELATED · ELECTRIC AND OTHER SERVICES · MN · 33% owned · share of income -$4,031 · share of assets $353,454 · general or managing partner

    Directly controlled by MIENERGY COOPERATIVE

  • TEC COMMUNITY SOLAR I LLC

    SOLAR ENERGY · MN

  • HARMONY TELEPHONE COMPANY LLC

    RELATED · PROVIDE BROADBAND SERVICE · MN · 33% owned · share of income $2,193,904 · share of assets $16,053,985

    Directly controlled by MIENERGY COOPERATIVE

  • MINNOWA ALLIANCE LLC

    UNRELATED · CONSULTING/ENGINEERING · IA · 50% owned · share of income $39,329 · share of assets $301,373 · general or managing partner

    Directly controlled by MIENERGY COOPERATIVE

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • TEC COMMUNITY SOLAR HOLDINGS

    C · SOLAR POWER INVESTMENT · MN · 100% owned · share of income $77 · share of assets $3,830 · controlled entity

    Directly controlled by MIENERGY COOPERATIVE

  • HTC DEVELOPMENT CORPORATION

    C · HOUSING DEVELOPMENT · IA · 100% owned · share of income $198,494 · share of assets $833,322 · controlled entity

    Directly controlled by MIENERGY COOPERATIVE

Provenance

Return type
form_990
Tax year
2024
Filed
7 October 2025
IRS schema version
2024v5.2
Source object
202542809349302019

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