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Nonprofiteer
← STEELE WASECA COOPERATIVE ELECTRIC

Form 990 for tax year 2025

Filed by STEELE WASECA COOPERATIVE ELECTRIC.

Totals

Total revenue
$50,967,936
Total expenses
$50,967,936
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$47,388,181
Investment income
$465,217
Other revenue
$3,114,538
Total assets, end of year
$123,264,557
Total liabilities, end of year
$67,300,910
Net assets or fund balances, end of year
$55,963,647
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: SALE OF POWER

    total $47,388,181 · related or exempt $47,388,181

  • 3 · Investment income

    total $465,632 · excluded $465,632

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

    other assets $415

  • 7c · Gain or loss

    other assets -$415

  • 7d · Net gain or loss

    total -$415 · excluded -$415

  • 11a · Other revenue: CAPITAL CREDITS

    total $3,076,745 · related or exempt $3,076,745

  • 11b · Other revenue: ELECTRIC WIRING

    total $37,793 · unrelated business $37,793

  • 11e · Other revenue, total

    $3,114,538

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $5,700,835

  • 5 · Compensation of officers, directors and key employees

    total $971,471

  • 20 · Interest

    total $1,533,879

  • 22 · Depreciation, depletion and amortization

    total $4,040,031

  • 24a · Other expenses: COST OF POWER

    total $32,120,753

  • 24b · Other expenses: DISTRIBUTION EXPENSE -

    total $2,039,684

  • 24c · Other expenses: DISTRIBUTION EXPENSE -

    total $1,661,421

  • 24d · Other expenses: ADMIN AND GENERAL EXPEN

    total $1,300,380

  • 24e · All other expenses

    total $1,599,482

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $5,500,430 · end of year $6,989,722

  • 4 · Accounts receivable

    beginning of year $5,521,523 · end of year $6,389,092

  • 7 · Other notes and loans receivable

    beginning of year $613,642 · end of year $855,096

  • 8 · Inventories for sale or use

    beginning of year $2,111,690 · end of year $2,284,785

  • 9 · Prepaid expenses and deferred charges

    beginning of year $606,328 · end of year $283,518

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

    $115,278,692

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

    $40,888,852

  • 10c · Land, buildings and equipment, net

    beginning of year $70,224,972 · end of year $74,389,840

  • 13 · Investments: program-related

    beginning of year $26,868,691 · end of year $31,987,214

  • 15 · Other assets

    beginning of year $21,337 · end of year $85,290

  • 17 · Accounts payable and accrued expenses

    beginning of year $6,749,942 · end of year $8,285,145

  • 23 · Secured mortgages and notes payable

    beginning of year $41,784,083 · end of year $47,459,048

  • 25 · Other liabilities

    beginning of year $11,256,203 · end of year $11,556,717

  • 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 $51,678,385 · end of year $55,963,647

Mission and programs · 2025

Mission

THE MISSION OF STEELE-WASECA COOPERATIVE ELECTRIC IS TO PROVIDE COMPETITIVE, RELIABLE QUALITY SERVICE TO OUR MEMBERSHIP.

Activities or mission (Part I)

COOPERATIVE ELECTRIC UTILITY

  • SALE OF ELECTRICITY TO MEMBERS.

As filed on the 2025 return.

Listed in Part VII

  • Rodney D Krell

    PRESIDENT

    Total calculated
    $35,465
    From this org
    $35,465
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

  • Patrick J Duchene

    VICE-PRES

    Total calculated
    $29,905
    From this org
    $29,905
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

  • Scott J Carlson

    ACTING SEC/TREAS

    Total calculated
    $33,605
    From this org
    $33,605
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

  • Ronald D Sommers

    SEC/TREAS

    Total calculated
    $34,250
    From this org
    $34,250
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

  • John R Beal

    DIRECTOR

    Total calculated
    $31,495
    From this org
    $31,495
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

  • Neil R Schlaak

    DIRECTOR

    Total calculated
    $32,380
    From this org
    $32,380
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

  • Geraldine G Lienke

    DIRECTOR

    Total calculated
    $19,877
    From this org
    $19,877
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

  • Dennis C Ringhofer

    DIRECTOR

    Total calculated
    $32,055
    From this org
    $32,055
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

  • Gary W Wilson

    DIRECTOR

    Total calculated
    $21,662
    From this org
    $21,662
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

  • Weston L Wilson

    DIRECTOR

    Total calculated
    $14,630
    From this org
    $14,630
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

  • Anton H Seykora

    DIRECTOR

    Total calculated
    $15,230
    From this org
    $15,230
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

  • Sydney R Briggs

    GENERAL MANAGER

    Total calculated
    $349,372
    From this org
    $259,650
    From related orgs
    $0
    Other
    $89,722
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $259,650
    Bonus
    $0
    Other
    $0
    Deferred
    $66,324
    Nontaxable benefits
    $23,398
    Filer's total
    $349,372

  • Jon P Stelter

    FINANCE MANAGER

    Total calculated
    $321,545
    From this org
    $162,064
    From related orgs
    $0
    Other
    $159,481
    Hours/week
    46

    Schedule J breakdown matched by us

    Base
    $162,064
    Bonus
    $0
    Other
    $0
    Deferred
    $123,808
    Nontaxable benefits
    $35,673
    Filer's total
    $321,545

  • Steve E Nordahl

    SYSTEM TECHNICIAN

    Total calculated
    $219,025
    From this org
    $149,444
    From related orgs
    $0
    Other
    $69,581
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $149,444
    Bonus
    $0
    Other
    $0
    Deferred
    $47,840
    Nontaxable benefits
    $21,741
    Filer's total
    $219,025

  • Kevin A Kjersten

    LINE FOREMAN

    Total calculated
    $207,117
    From this org
    $140,610
    From related orgs
    $0
    Other
    $66,507
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $140,610
    Bonus
    $0
    Other
    $0
    Deferred
    $31,449
    Nontaxable benefits
    $35,058
    Filer's total
    $207,117

  • Dan H Meier

    OPERATIONS MANAGER

    Total calculated
    $258,603
    From this org
    $169,275
    From related orgs
    $0
    Other
    $89,328
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $169,275
    Bonus
    $0
    Other
    $0
    Deferred
    $67,299
    Nontaxable benefits
    $22,029
    Filer's total
    $258,603

  • Adam W Davis

    LINE FOREMAN

    Total calculated
    $195,791
    From this org
    $141,253
    From related orgs
    $0
    Other
    $54,538
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $141,253
    Bonus
    $0
    Other
    $0
    Deferred
    $19,547
    Nontaxable benefits
    $34,991
    Filer's total
    $195,791

  • Matthew J Rohman

    LINE SUPERVISOR

    Total calculated
    $221,225
    From this org
    $140,443
    From related orgs
    $0
    Other
    $80,782
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $140,443
    Bonus
    $0
    Other
    $0
    Deferred
    $45,422
    Nontaxable benefits
    $35,360
    Filer's total
    $221,225

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

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
2025
Filed
1 September 2026
IRS schema version
2025v4.2
Source object
202642459349301509

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