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Nonprofiteer
← NORTHWEST IOWA POWER COOPERATIVE

Form 990 for tax year 2025

Filed by NORTHWEST IOWA POWER COOPERATIVE.

Totals

Total revenue
$124,060,780
Total expenses
$123,412,750
Contributions and grants received
$0
Grants paid
$23,088
Program service revenue
$123,110,209
Investment income
$158,439
Other revenue
$792,132
Total assets, end of year
$301,403,673
Total liabilities, end of year
$199,265,509
Net assets or fund balances, end of year
$102,138,164
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 $103,192,901 · related or exempt $103,192,901

  • 2b · Program service revenue: RTO SERVICE REVENUE

    total $14,335,758 · related or exempt $14,335,758

  • 2c · Program service revenue: CAPITAL CREDITS

    total $4,602,530 · related or exempt $4,602,530

  • 2d · Program service revenue: OTHER ELECTRIC REVENUE

    total $702,827 · related or exempt $702,827

  • 2e · Program service revenue: FIBER OPTIC SALES

    total $276,193 · related or exempt $276,193

  • 3 · Investment income

    total $158,439 · excluded $158,439

  • 6a · Gross rents

    real property $140,387

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $140,387

  • 6d · Net rental income or loss

    total $140,387 · excluded $140,387

  • 11a · Other revenue: MISCELLANEOUS REVENUE

    total $651,745 · related or exempt $651,745

  • 11e · Other revenue, total

    $651,745

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $23,088

  • 4 · Benefits paid to or for members

    total $5,831,000

  • 5 · Compensation of officers, directors and key employees

    total $1,002,020

  • 7 · Other salaries and wages

    total $4,648,178

  • 8 · Pension plan contributions

    total $763,871

  • 10 · Payroll taxes

    total $399,558

  • 20 · Interest

    total $7,782,385

  • 22 · Depreciation, depletion and amortization

    total $6,678,578

  • 24a · Other expenses: PURCHASED POWER

    total $87,299,156

  • 24b · Other expenses: TRANSMISSION

    total $5,109,487

  • 24c · Other expenses: STEAM GENERATION

    total $3,481,004

  • 24d · Other expenses: CUSTOMER SERVICE & SALE

    total $2,068,428

  • 24e · All other expenses

    total -$1,674,003

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $5,521,822 · end of year $4,240,389

  • 4 · Accounts receivable

    beginning of year $11,180,603 · end of year $11,976,478

  • 7 · Other notes and loans receivable

    beginning of year $219,295 · end of year $532,431

  • 8 · Inventories for sale or use

    beginning of year $6,736,294 · end of year $6,323,269

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,252,503 · end of year $898,515

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

    $276,775,887

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

    $74,313,220

  • 10c · Land, buildings and equipment, net

    beginning of year $182,256,015 · end of year $202,462,667

  • 12 · Investments: other securities

    beginning of year $1,966,891 · end of year $3,831,231

  • 13 · Investments: program-related

    beginning of year $69,833,964 · end of year $71,072,190

  • 14 · Intangible assets

    beginning of year $44,346 · end of year $44,346

  • 15 · Other assets

    beginning of year $22,572 · end of year $22,157

  • 17 · Accounts payable and accrued expenses

    beginning of year $17,251,818 · end of year $17,923,996

  • 19 · Deferred revenue

    beginning of year $1,276,771 · end of year $3,068,854

  • 23 · Secured mortgages and notes payable

    beginning of year $153,765,812 · end of year $172,591,376

  • 24 · Unsecured notes and loans payable

    beginning of year $7,680,146 · end of year $4,860,732

  • 25 · Other liabilities

    beginning of year $701,190 · end of year $820,551

  • 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 $98,358,568 · end of year $102,138,164

Mission and programs · 2025

Mission

WHOLESALE ELECTRICITY SALES TO ITS MEMBER COOPERATIVES.

  • NIPCO IS A WHOLESALE POWER SUPPLIER TO SIX RURAL ELECTRIC DISTRIBUTION COOPERATIVES AND ONE MUNICIPAL COOPERATIVE COMPRISED OF SIX CITIES.

As filed on the 2025 return.

Listed in Part VII

  • Louis Reed

    PRESIDENT

    Total calculated
    $20,210
    From this org
    $20,210
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Ronald Steinhoff

    VICE PRESIDENT

    Total calculated
    $17,530
    From this org
    $17,530
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Trent Will

    SECRETARY

    Total calculated
    $11,080
    From this org
    $11,080
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

  • Thomas Wagner

    TREASURER

    Total calculated
    $7,990
    From this org
    $7,990
    From related orgs
    $0
    Other
    $0
    Hours/week
    7

  • Bryan Greve

    DIRECTOR

    Total calculated
    $11,100
    From this org
    $11,100
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

  • James Else

    DIRECTOR

    Total calculated
    $14,160
    From this org
    $14,160
    From related orgs
    $0
    Other
    $0
    Hours/week
    9

  • Brenda Lundergard

    DIRECTOR

    Total calculated
    $15,500
    From this org
    $15,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    9

  • Matthew Washburn

    EXECUTIVE VP & GENERAL MANAGER

    Total calculated
    $460,271
    From this org
    $324,715
    From related orgs
    $0
    Other
    $135,556
    Hours/week
    43

    Schedule J breakdown matched by us

    Base
    $322,860
    Bonus
    $254
    Other
    $1,601
    Deferred
    $107,456
    Nontaxable benefits
    $31,921
    Filer's total
    $464,092

  • Jane Scheitler

    CFO

    Total calculated
    $225,754
    From this org
    $160,731
    From related orgs
    $0
    Other
    $65,023
    Hours/week
    41

    Schedule J breakdown matched by us

    Base
    $159,650
    Bonus
    $271
    Other
    $810
    Deferred
    $35,158
    Nontaxable benefits
    $32,324
    Filer's total
    $228,213

  • Jayme Huber

    VP OF ENGINEERING SERVICE

    Total calculated
    $252,533
    From this org
    $187,635
    From related orgs
    $0
    Other
    $64,898
    Hours/week
    41

    Schedule J breakdown matched by us

    Base
    $184,149
    Bonus
    $254
    Other
    $3,232
    Deferred
    $42,404
    Nontaxable benefits
    $25,195
    Filer's total
    $255,234

  • Steve Spieler

    CIO

    Total calculated
    $228,163
    From this org
    $171,654
    From related orgs
    $0
    Other
    $56,509
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $169,887
    Bonus
    $271
    Other
    $1,496
    Deferred
    $35,089
    Nontaxable benefits
    $23,963
    Filer's total
    $230,706

  • Mark Nelson

    POWER DISPATCHING MANAGER

    Total calculated
    $200,917
    From this org
    $143,956
    From related orgs
    $0
    Other
    $56,961
    Hours/week
    41

    Schedule J breakdown matched by us

    Base
    $141,003
    Bonus
    $271
    Other
    $2,682
    Deferred
    $47,361
    Nontaxable benefits
    $11,824
    Filer's total
    $203,141

  • Thomas Berkenpas

    TRANSMISSION SUPERINTENDENT

    Total calculated
    $214,279
    From this org
    $138,109
    From related orgs
    $0
    Other
    $76,170
    Hours/week
    43

    Schedule J breakdown matched by us

    Base
    $135,595
    Bonus
    $271
    Other
    $2,243
    Deferred
    $45,975
    Nontaxable benefits
    $32,418
    Filer's total
    $216,502

  • William Thompson

    CREW FOREMAN

    Total calculated
    $195,825
    From this org
    $137,556
    From related orgs
    $0
    Other
    $58,269
    Hours/week
    43

    Schedule J breakdown matched by us

    Base
    $136,274
    Bonus
    $271
    Other
    $1,011
    Deferred
    $32,726
    Nontaxable benefits
    $27,585
    Filer's total
    $197,867

  • Grant Oliver

    CREW FOREMAN

    Total calculated
    $181,719
    From this org
    $136,597
    From related orgs
    $0
    Other
    $45,122
    Hours/week
    43

    Schedule J breakdown matched by us

    Base
    $136,005
    Bonus
    $271
    Other
    $321
    Deferred
    $17,522
    Nontaxable benefits
    $29,642
    Filer's total
    $183,761

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

  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement

The filer's explanations (Part III)

PART I, LINE 4B
INVESTMENT GAINS/(LOSSES) IN SUPPLEMENT NON-QUALIFIED RETIREMENT PLAN: MATTHEW WASHBURN $32,501.30 JAYME HUBER $4,695.99 JANE SCHEITLER $5,111.93 STEVE SPIELER $5,597.32
SCHEDULE J, PART II, COLUMN C
PER THE INSTRUCTIONS, COLUMN C INCLUDES THE CHANGE IN ACTUARIAL VALUE IN THE DEFINED BENEFIT PLAN FOR PERSONS LISTED IN SCHEDULE J, PART II. ACTUAL EXPENSE OF THE PLAN MAY BE SIGNIFICANTLY DIFFERENT FROM THE CHANGE IN ACTUARIAL VALUE. ACTUAL EXPENSES OF THE PLAN ARE AS FOLLOWS: MATTHEW WASHBURN $58,055 JANE SCHEITLER $20,342 JAYME HUBER $23,198 MARK NELSON $25,737 WILLIAM THOMPSON $22,548 STEVE SPIELER $21,336 THOMAS BERKENPAS $25,717 GRANT OLIVER $15,391 CHANGES IN ACTUARIAL VALUES ARE AS FOLLOWS: MATTHEW WASHBURN $88,181 JANE SCHEITLER $25,302 JAYME HUBER $31,200 MARK NELSON $43,088 WILLIAM THOMPSON $28,526 STEVE SPIELER $24,808 THOMAS BERKENPAS $41,705 GRANT OLIVER $13,321

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

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.

  • IOWA COOPERATIVES FOR ENERGY EFFICIENCY

    UNRELATED · ENERGY EFFICIENCY CONFERENCE · IA · 50% owned · share of income -$5,012 · share of assets $3,664 · general or managing partner

    Directly controlled by NORTHWEST IOWA POWER COOPERATIVE

Provenance

Return type
form_990
Tax year
2025
Filed
27 August 2026
IRS schema version
2025v4.2
Source object
202642409349301034

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