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Nonprofiteer
← NODAK ELECTRIC COOPERATIVE INC

Form 990 for tax year 2025

Filed by NODAK ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$147,271,424
Total expenses
$145,472,168
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$144,960,845
Investment income
$789,211
Other revenue
$1,521,368
Total assets, end of year
$182,450,195
Total liabilities, end of year
$107,510,989
Net assets or fund balances, end of year
$74,939,206
Program services expenses (Part IX)
$145,472,168
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$145,472,168

Program services were 100.0% 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 Revenue

    total $142,602,680 · related or exempt $142,602,680 · unrelated business $0 · excluded $0

  • 2b · Program service revenue: AFB Revenue

    total $2,358,165 · related or exempt $2,358,165 · unrelated business $0 · excluded $0

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $789,211 · related or exempt $789,211 · unrelated business $0 · excluded $0

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 5 · Royalties

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 6a · Gross rents

    real property $0 · personal property $0

  • 6b · Less rental expenses

    real property $0 · personal property $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 6d · Net rental income or loss

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 7a · Gross sales of assets other than inventory

    securities $0 · other assets $0

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

    securities $0 · other assets $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 7d · Net gain or loss

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 8a · Fundraising events: gross income

    $0

  • 8a · Fundraising events: contributions included on line 1c

    $0

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $0 · unrelated business $0 · excluded $0

  • 9a · Gaming: gross income

    $0

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 10a · Gross sales of inventory

    $128,137

  • 10b · Cost of goods sold

    $70,019

  • 10c · Net income from sales of inventory

    total $58,118 · related or exempt $58,118 · unrelated business $0 · excluded $0

  • 11a · Other revenue: Other Capital Credits

    total $1,463,250 · related or exempt $1,463,250 · unrelated business $0 · excluded $0

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $1,463,250

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $0 · program services $0

  • 2 · Grants to domestic individuals

    total $0 · program services $0

  • 3 · Grants to foreign organizations and individuals

    total $0 · program services $0

  • 4 · Benefits paid to or for members

    total $3,702,691 · program services $3,702,691

  • 5 · Compensation of officers, directors and key employees

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 6 · Compensation of disqualified persons

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 7 · Other salaries and wages

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 8 · Pension plan contributions

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 9 · Other employee benefits

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 10 · Payroll taxes

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11a · Fees: management

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11b · Fees: legal

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11c · Fees: accounting

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11d · Fees: lobbying

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11e · Fees: professional fundraising services

    total $0 · fundraising $0

  • 11f · Fees: investment management

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11g · Fees: other

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 12 · Advertising and promotion

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 13 · Office expenses

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 14 · Information technology

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 15 · Royalties

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 16 · Occupancy

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 17 · Travel

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 18 · Travel or entertainment for public officials

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 19 · Conferences, conventions and meetings

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 20 · Interest

    total $2,391,036 · program services $2,391,036 · management and general $0 · fundraising $0

  • 21 · Payments to affiliates

    total $123,429,928 · program services $123,429,928 · management and general $0 · fundraising $0

  • 22 · Depreciation, depletion and amortization

    total $5,022,013 · program services $5,022,013 · management and general $0 · fundraising $0

  • 23 · Insurance

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 24e · All other expenses

    total $10,926,500 · program services $10,926,500 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $9,170,575 · end of year $9,063,617

  • 2 · Savings and temporary cash investments

    beginning of year $15,171,499 · end of year $11,216,418

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $13,667,423 · end of year $14,517,589

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $472,222 · end of year $682,722

  • 8 · Inventories for sale or use

    beginning of year $7,339,958 · end of year $8,077,888

  • 9 · Prepaid expenses and deferred charges

    beginning of year $0 · end of year $0

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

    $198,434,373

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

    $81,997,618

  • 10c · Land, buildings and equipment, net

    beginning of year $113,550,995 · end of year $116,436,755

  • 11 · Investments: publicly traded securities

    beginning of year $0 · end of year $0

  • 12 · Investments: other securities

    beginning of year $0 · end of year $0

  • 13 · Investments: program-related

    beginning of year $17,570,620 · end of year $21,899,085

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $356,099 · end of year $556,121

  • 17 · Accounts payable and accrued expenses

    beginning of year $10,831,570 · end of year $11,849,304

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $0 · end of year $0

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $82,263,041 · end of year $82,543,761

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $11,443,112 · end of year $13,117,924

  • 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 $72,761,668 · end of year $74,939,206

Mission and programs · 2025

Mission

Rural Electric Cooperative serving 20000+ accounts in Northeastern ND

Activities or mission (Part I)

Rural Electric Cooperative serving 20,000+ accounts in Northeastern ND.

  • Power cost expense to provide electricity to 20,000 accounts

    Expenses $123,429,928 · Revenue $147,271,424

  • Depreciation expense to provide electric service to 20,000 accounts

    Expenses $5,022,013 · Revenue $147,271,424

  • Interest expense to provide electric service to 20,000 accounts

    Expenses $2,391,036 · Revenue $147,271,424

  • Other program services to provide electric service to 20,000 accounts.

    Expenses $14,629,191 · Revenue $147,271,424

As filed on the 2025 return.

Listed in Part VII

  • Mylo Einarson

    President/CEO

    Total calculated
    $448,737
    From this org
    $350,879
    From related orgs
    $0
    Other
    $97,858
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $350,879
    Bonus
    $0
    Other
    $0
    Deferred
    $73,547
    Nontaxable benefits
    $24,311
    Filer's total
    $448,737

  • Blaine Rekken

    Customer and Energy Services Manager

    Total calculated
    $231,011
    From this org
    $155,382
    From related orgs
    $0
    Other
    $75,629
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $155,382
    Bonus
    $0
    Other
    $0
    Deferred
    $53,834
    Nontaxable benefits
    $21,795
    Filer's total
    $231,011

  • Jay Raymond

    Line Superintendant

    Total calculated
    $228,965
    From this org
    $160,793
    From related orgs
    $0
    Other
    $68,172
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $160,793
    Bonus
    $0
    Other
    $0
    Deferred
    $49,516
    Nontaxable benefits
    $18,656
    Filer's total
    $228,965

  • Cole Johnson

    Engineering Manager

    Total calculated
    $203,372
    From this org
    $148,137
    From related orgs
    $0
    Other
    $55,235
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $148,137
    Bonus
    $0
    Other
    $0
    Deferred
    $33,543
    Nontaxable benefits
    $21,692
    Filer's total
    $203,372

  • Andrew Peterson

    Accounting and Finance Manager

    Total calculated
    $179,590
    From this org
    $135,171
    From related orgs
    $0
    Other
    $44,419
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $135,171
    Bonus
    $0
    Other
    $0
    Deferred
    $26,088
    Nontaxable benefits
    $18,331
    Filer's total
    $179,590

  • David Brag

    Director

    Total calculated
    $16,200
    From this org
    $16,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Cheryl Osowski

    Director

    Total calculated
    $14,250
    From this org
    $14,250
    From related orgs
    $0
    Other
    $0
    Hours/week
    12

  • Pete Naastad

    Director

    Total calculated
    $14,100
    From this org
    $14,100
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Steve Smaaladen

    Vice Chairman

    Total calculated
    $13,800
    From this org
    $13,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Luther Meberg

    Director

    Total calculated
    $13,650
    From this org
    $13,650
    From related orgs
    $0
    Other
    $0
    Hours/week
    12

  • Ryan Benson

    Secretary / Treasurer

    Total calculated
    $13,650
    From this org
    $13,650
    From related orgs
    $0
    Other
    $0
    Hours/week
    20

  • Les Windjue

    Chairman

    Total calculated
    $12,600
    From this org
    $12,600
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • David Kent

    Director

    Total calculated
    $12,300
    From this org
    $12,300
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • David Hagert

    Director

    Total calculated
    $7,900
    From this org
    $7,900
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Luke Ressler

    Director

    Total calculated
    $5,300
    From this org
    $5,300
    From related orgs
    $0
    Other
    $0
    Hours/week
    20

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

None.

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.

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.

  • Nodak Electric Trust

    501C3 · Charitable Trust · ND

Provenance

Return type
form_990
Tax year
2025
Filed
7 April 2026
IRS schema version
2025v4.0
Source object
202611049349301911

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