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Nonprofiteer
← GOODHUE COUNTY COOPERATIVE ELECTRIC ASSOCIATION

Form 990 for tax year 2025

Filed by GOODHUE COUNTY COOPERATIVE ELECTRIC ASSOCIATION.

Totals

Total revenue
$15,940,018
Total expenses
$16,186,246
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$16,127,860
Investment income
-$187,842
Other revenue
$0
Total assets, end of year
$48,372,630
Total liabilities, end of year
$33,338,231
Net assets or fund balances, end of year
$15,034,399
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 $15,002,089 · related or exempt $15,002,089

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

    total $893,415 · related or exempt $893,415

  • 2c · Program service revenue: OTHER CAPITAL CREDITS

    total $99,184 · related or exempt $99,184

  • 2d · Program service revenue: OTHER

    total $71,559 · related or exempt $71,559

  • 2e · Program service revenue: COMMISSION REVENUES

    total $57,690 · unrelated business $57,690

  • 2f · All other program service revenue

    total $3,923 · excluded $3,923

  • 3 · Investment income

    total $25,050 · excluded $25,050

  • 7a · Gross sales of assets other than inventory

    other assets $10,000

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

    other assets $222,892

  • 7c · Gain or loss

    other assets -$212,892

  • 7d · Net gain or loss

    total -$212,892 · related or exempt -$212,892

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $1,230,063

  • 5 · Compensation of officers, directors and key employees

    total $304,165

  • 20 · Interest

    total $941,143

  • 22 · Depreciation, depletion and amortization

    total $1,648,467

  • 24a · Other expenses: COST OF POWER

    total $9,254,129

  • 24b · Other expenses: DISTRIBUTION - MAINTENANC

    total $1,021,083

  • 24c · Other expenses: DISTRIBUTION - OPERATIONS

    total $921,904

  • 24d · Other expenses: ADMINISTRATIVE AND GENERA

    total $750,195

  • 24e · All other expenses

    total $115,097

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $963,241 · end of year $411,462

  • 4 · Accounts receivable

    beginning of year $2,123,474 · end of year $2,456,806

  • 8 · Inventories for sale or use

    beginning of year $507,828 · end of year $530,288

  • 9 · Prepaid expenses and deferred charges

    beginning of year $668,295 · end of year $610,014

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

    $53,079,933

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

    $17,133,616

  • 10c · Land, buildings and equipment, net

    beginning of year $33,225,280 · end of year $35,946,317

  • 13 · Investments: program-related

    beginning of year $7,558,463 · end of year $8,413,543

  • 15 · Other assets

    beginning of year $141,225 · end of year $4,200

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,717,049 · end of year $3,183,981

  • 23 · Secured mortgages and notes payable

    beginning of year $28,188,678 · end of year $29,961,967

  • 25 · Other liabilities

    beginning of year $173,200 · end of year $192,283

  • 31 · Retained earnings, endowment or other funds

    beginning of year $14,108,879 · end of year $15,034,399

Mission and programs · 2025

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 5,282 RURAL MEMBERS DURING THE YEAR.

As filed on the 2025 return.

Listed in Part VII

  • Timothy Krohn

    LINE SUPERIN

    Total calculated
    $235,568
    From this org
    $124,915
    From related orgs
    $0
    Other
    $110,653
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $124,915
    Bonus
    not reported
    Other
    not reported
    Deferred
    $68,719
    Nontaxable benefits
    $41,934
    Filer's total
    $235,568

  • Christopher Olson

    FOREMAN

    Total calculated
    $209,258
    From this org
    $125,102
    From related orgs
    $0
    Other
    $84,156
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $125,102
    Bonus
    not reported
    Other
    not reported
    Deferred
    $45,821
    Nontaxable benefits
    $38,335
    Filer's total
    $209,258

  • Kelly Hovel

    GENERAL MANA

    Total calculated
    $201,492
    From this org
    $149,242
    From related orgs
    $0
    Other
    $52,250
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $149,242
    Bonus
    not reported
    Other
    not reported
    Deferred
    $32,793
    Nontaxable benefits
    $19,457
    Filer's total
    $201,492

  • Ryne McNamara

    LINEMAN

    Total calculated
    $173,009
    From this org
    $122,289
    From related orgs
    $0
    Other
    $50,720
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $122,289
    Bonus
    not reported
    Other
    not reported
    Deferred
    $15,752
    Nontaxable benefits
    $34,968
    Filer's total
    $173,009

  • Amber Gesme

    FINANCE MANA

    Total calculated
    $161,143
    From this org
    $106,193
    From related orgs
    $0
    Other
    $54,950
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $106,193
    Bonus
    not reported
    Other
    not reported
    Deferred
    $15,387
    Nontaxable benefits
    $39,563
    Filer's total
    $161,143

  • Allen Jantzen

    FOREMAN

    Total calculated
    $158,044
    From this org
    $113,937
    From related orgs
    $0
    Other
    $44,107
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $113,937
    Bonus
    not reported
    Other
    not reported
    Deferred
    $27,773
    Nontaxable benefits
    $16,334
    Filer's total
    $158,044

  • Donnell Buck

    DIRECTOR

    Total calculated
    $5,950
    From this org
    $5,950
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Edward Bauman

    DIRECTOR

    Total calculated
    $5,850
    From this org
    $5,850
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Gene Bang

    DIRECTOR

    Total calculated
    $5,550
    From this org
    $5,550
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Paul Huneke

    TREASURER

    Total calculated
    $5,550
    From this org
    $5,550
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Gary Esterby

    VICE PRESIDE

    Total calculated
    $5,350
    From this org
    $5,350
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Larry Jensen

    DIRECTOR

    Total calculated
    $5,350
    From this org
    $5,350
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Darla Vieths

    DIRECTOR

    Total calculated
    $5,150
    From this org
    $5,150
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Jim Dicke

    SECRETARY

    Total calculated
    $5,030
    From this org
    $5,030
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • David Hernke

    PRESIDENT

    Total calculated
    $4,950
    From this org
    $4,950
    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
2025
Filed
27 April 2026
IRS schema version
2025v4.0
Source object
202601179349302000

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