Blue Earth Nicollet Faribault Cooperative Electric Association

Benco Electric Cooperative

Mankato, MN
Tax-exempt since June 1939
EIN: 41-0155615

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Type of Nonprofit

Designated as a 501(c)(12) Benevolent life insurance associations, irrigation companies, telephone companies, etc., which have a mutually beneficial nature.

Donations to this organization are not tax deductible.

Details

According to its Dec. 2023 tax filing, this nonprofit:

Reported conflict of interest transactions

Organizations must report loans, grants or business transactions with interested parties, which may include key employees and officers, their family members and any businesses in which they hold a controlling interest. These transactions must be reported on Schedule L.

Revenue

$53.9M (2023)

Expenses

$53.9M (2023)

Total Assets

$144M (2023)

Total Liabilities

$86.9M (2023)

Source: Form 990 tax filings from 2011 to 2023

Tax Filings and Audits by Year

Form 990 is an information return that most organizations claiming federal tax-exempt status must file yearly with the IRS. Nonprofit Explorer has IRS digitized Form 990 data for filings processed in 2012 and later. If this organization filed an amended return, it may not be reflected below. Duplicate download links may indicate a resubmission or amendment to this organization's original return. Form 990 data is from the IRS.

Audits are required to be submitted by nonprofit organizations that spend $750,000 or more in federal grant money in a fiscal year. "Single audits" look at the entire organization's finances and compliance, while other audits are program specific. Nonprofit Explorer has PDFs of audits for some nonprofits for fiscal year 2015 and later. Audit data is from the Federal Audit Clearinghouse.

Fiscal Year Ending Dec.
2023

Revenue

$53,900,086

Expenses

$53,860,781

Net Income

$39,305

Net Assets

$57,522,272

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$51,500,695	95.5%
Investment Income	$569,892	1.1%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$3,280	0.0%
Net Fundraising	$0
Sales of Assets	-$44,744
Net Inventory Sales	-$80,987
Other Revenue	$1,951,950	3.6%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$713,702	1.3%
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$144,377,847
Total Liabilities	$86,855,575
Net Assets	$57,522,272

Club or Co-Op Income
Income From Members	$52,438,165
Income From Other Sources	$3,187,922

Reported conflict of interest transactions

Compensation

Key Employees and Officers	Compensation	Related	Other
David Sunderman (Ceo)	$269,814	$0	$143,016
Tim Braulick (Operations & Engineering Manager)	$151,125	$0	$58,504
Duane Hagen (Crew Chief)	$137,104	$0	$48,011
Kim Hanson (Crew Chief)	$129,825	$0	$56,527
Paul Cumbee (Crew Chief)	$127,887	$0	$69,930
Abby Dahms (Finance Manager)	$126,422	$0	$49,935
Scott Bohlke (Crew Chief)	$125,359	$0	$53,449
Terrance Genelin (Treasurer)	$18,160	$0	$0
Warren Scott Johnson (Secretary)	$17,665	$0	$0
Bradley Leiding (President)	$17,365	$0	$0
Don Westphal (Director)	$15,660	$0	$0
Gary Stenzel (Director)	$12,545	$0	$0
Marilyn Lynch (Vice President)	$12,045	$0	$0
Blake Meshke (Director)	$10,910	$0	$0
Duane Ehrich (Director)	$10,275	$0	$0
John Wells (Director)	$9,890	$0	$0

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990

Filed on June 12, 2024

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Fiscal Year Ending Dec.
2022

Revenue

$53,795,371

Expenses

$53,777,621

Net Income

$17,750

Net Assets

$52,445,795

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$52,623,194	97.8%
Investment Income	$300,942	0.6%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$6,880	0.0%
Net Fundraising	$0
Sales of Assets	$102,702	0.2%
Net Inventory Sales	-$82,584
Other Revenue	$844,237	1.6%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$834,775	1.6%
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$137,782,800
Total Liabilities	$85,337,005
Net Assets	$52,445,795

Club or Co-Op Income
Income From Members	$53,463,241
Income From Other Sources	$1,609,586

Reported conflict of interest transactions

Compensation

Key Employees and Officers	Compensation	Related	Other
David Sunderman (Ceo)	$252,042	$0	$264,665
Tim Braulick (Operations & Engineering Manager)	$141,444	$0	$72,609
Clay Hill (Crew Chief)	$133,897	$0	$48,958
Duane Hagen (Crew Chief)	$127,378	$0	$54,022
Paul Cumbee (Crew Chief)	$126,926	$0	$78,916
Christopher Becthold (Crew Chief)	$126,650	$0	$58,474
Abby Dahms (Finance Manager)	$117,998	$0	$56,185
Bradley Leiding (President)	$19,725	$0	$0
Terrance Genelin (Treasurer)	$18,305	$0	$0
Warren Scott Johnson (Secretary)	$17,990	$0	$0
Blake Meshke (Director)	$15,900	$0	$0
Don Westphal (Director)	$15,890	$0	$0
Marilyn Lynch (Vice President)	$15,660	$0	$0
John Wells (Director)	$14,275	$0	$0
Gary Stenzel (Director)	$13,775	$0	$0
Duane Ehrich (Director)	$12,365	$0	$0

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990

Filed on Oct. 31, 2023

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Fiscal Year Ending Dec.
2021

Revenue

$49,683,649

Expenses

$45,893,377

Net Income

$3,790,272

Net Assets

$48,355,784

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$47,845,679	96.3%
Investment Income	$155,606	0.3%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	-$39,457
Net Inventory Sales	-$38,909
Other Revenue	$1,760,730	3.5%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$809,283	1.8%
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$123,765,879
Total Liabilities	$75,410,095
Net Assets	$48,355,784

Club or Co-Op Income
Income From Members	$48,877,437
Income From Other Sources	$1,849,601

Reported conflict of interest transactions

Compensation

Key Employees and Officers	Compensation	Related	Other
David Sunderman (Ceo)	$243,773	$0	$284,657
Tim Braulick (Operations & Engineering Manager)	$137,733	$0	$79,150
Duane Hagen (Crew Chief)	$126,175	$0	$50,974
Clay Hill (Crew Chief)	$124,343	$0	$46,082
Christopher Becthold (Crew Chief)	$117,043	$0	$54,756
Paul Cumbee (Crew Chief)	$114,708	$0	$75,137
Abby Dahms (Finance Manager)	$113,786	$0	$50,767
Don Westphal (Director)	$15,105	$0	$0
Warren Scott Johnson (Secretary)	$14,310	$0	$0
Marilyn Lynch (Treasurer)	$14,165	$0	$0
Blake Meshke (Chairman)	$13,755	$0	$0
John Wells (Director)	$13,350	$0	$0
Terrance Genelin (Director)	$13,115	$0	$0
Bradley Leiding (Vice Chairman)	$12,520	$0	$0
Gary Stenzel (Director)	$10,515	$0	$0
Duane Ehrich (Director)	$9,465	$0	$0

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990

Filed on Sept. 13, 2022

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Audits

Audit for a nonprofit that spends $750,000+ in federal grant money in a fiscal year

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Fiscal Year Ending Dec.
2020

Revenue

$45,959,324

Expenses

$44,518,043

Net Income

$1,441,281

Net Assets

$44,621,081

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$44,904,369	97.7%
Investment Income	$186,330	0.4%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$40,658	0.1%
Net Inventory Sales	-$111,465
Other Revenue	$939,432	2.0%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$1,042,623	2.3%
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$118,260,844
Total Liabilities	$73,639,763
Net Assets	$44,621,081

Club or Co-Op Income
Income From Members	$44,962,704
Income From Other Sources	$1,854,692

Reported conflict of interest transactions

Compensation

Key Employees and Officers	Compensation	Related	Other
David Sunderman (Ceo)	$236,604	$0	$258,309
Wade Hensel (Former Ceo)	$194,024	$0	$0
Tim Braulick (Operations & Engineering Manager)	$133,637	$0	$67,188
Clay Hill (Crew Chief)	$125,667	$0	$43,721
Duane Hagen (Crew Chief)	$122,906	$0	$44,748
Christopher Bectold (Crew Chief)	$116,685	$0	$50,539
Kim Hanson (Crew Chief)	$114,955	$0	$59,169
Abby Dahms (Finance Manager)	$101,321	$0	$21,108
Sandra Sowieja (Manager Of Finance & Administration Part Ye)	$43,124	$0	$79,173
Marilyn Lynch (Treasurer)	$14,575	$0	$0
Warren Schott Johnson (Secretary)	$13,405	$0	$0
Terry Genelin (Director)	$12,825	$0	$0
Blake Meshke (Chairman)	$12,690	$0	$0
Bradley Leiding (Vice Chairman)	$11,445	$0	$0
Gary Stenzel (Director)	$11,445	$0	$0
John Wells (Director)	$11,190	$0	$0
Duane Ehrich (Director)	$10,310	$0	$0
Don Westphal (Director)	$9,225	$0	$0
Harlan Lanz (Secretary Part Year)	$1,850	$0	$0

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990

Filed on Sept. 20, 2021

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Audits

Audit for a nonprofit that spends $750,000+ in federal grant money in a fiscal year

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Fiscal Year Ending Dec.
2019

Revenue

$48,217,093

Expenses

$46,500,780

Net Income

$1,716,313

Net Assets

$42,183,418

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$46,879,250	97.2%
Investment Income	$292,801	0.6%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$36,630	0.1%
Net Inventory Sales	-$118,041
Other Revenue	$1,126,453	2.3%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$964,357	2.1%
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$114,600,121
Total Liabilities	$72,416,703
Net Assets	$42,183,418

Club or Co-Op Income
Income From Members	$47,333,745
Income From Other Sources	$1,388,101

Reported conflict of interest transactions

Compensation

Key Employees and Officers	Compensation	Related	Other
David Sunderman (Ceo)	$223,347	$0	$219,058
Wade Hensel (Former Ceo)	$186,801	$0	$0
Sandy Sowieja (Manager Of Finance And Adm)	$127,176	$0	$81,687
Tim Braulick (Manager Of Operations/Eng)	$126,549	$0	$50,656
Duane Hagen (Crew Chief)	$125,790	$0	$36,686
Clay Hill (Crew Chief)	$124,317	$0	$33,924
Lenoard Dohm (Line Tech)	$114,936	$0	$39,697
Christopher Bectold (Crew Chief)	$114,307	$0	$41,486
Terry Genelin (Director)	$17,250	$0	$0
Warren Johnson (Director)	$15,938	$0	$0
Marilyn Lynch (Treasurer)	$15,675	$0	$0
John Wells (Director)	$14,675	$0	$0
Bradley Leiding (Vice Chairman)	$14,325	$0	$0
Harlan Lanz (Secretary)	$13,800	$0	$0
Blake Meshke (Chairman)	$13,550	$0	$0
Gary Stenzel (Director)	$10,725	$0	$0
Duane Ehrich (Director)	$10,350	$0	$0

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990

Filed on July 9, 2020

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Fiscal Year Ending Dec.
2018

Revenue

$49,021,122

Expenses

$46,161,223

Net Income

$2,859,899

Net Assets

$40,267,245

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$47,756,572	97.4%
Investment Income	$230,869	0.5%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$21,575	0.0%
Net Inventory Sales	-$68,385
Other Revenue	$1,080,491	2.2%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$766,237	1.7%
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$110,994,265
Total Liabilities	$70,727,020
Net Assets	$40,267,245

Club or Co-Op Income
Income From Members	$48,070,323
Income From Other Sources	$1,192,239

Reported conflict of interest transactions

Compensation

Key Employees and Officers	Compensation	Related	Other
David Sunderman (Ceo)	$217,294	$0	$62,542
Wade Hensel (Former Ceo)	$178,889	$0	$0
Tim Braulick (Manager Of Operations/Eng)	$128,355	$0	$44,283
Sandy Sowieja (Manager Of Finance And Administration)	$123,508	$0	$44,639
Clay Hill (Crew Chief)	$122,773	$0	$35,301
Duane Hagen (Crew Chief)	$120,067	$0	$35,313
Len Dohm (Line Tech)	$110,159	$0	$42,893
Wade Groskreutz (Line Tech)	$109,537	$0	$39,361
Warren Johnson (Chairman)	$19,840	$0	$0
John Wells (Director)	$17,925	$0	$0
Marilyn Lynch (Treasurer)	$16,775	$0	$0
Harlan Lanz (Secretary)	$16,325	$0	$0
Gary Stenzel (Vice Chairman)	$13,950	$0	$0
Bradley Leiding (Director)	$13,725	$0	$0
Blake Meshke (Director)	$11,900	$0	$0
Duane Ehrich (Director)	$11,775	$0	$0
Terry Genelin (Director)	$11,625	$0	$0
Garfield Eckberg (Director Part Year)	$5,525	$0	$0

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990

Filed on Aug. 1, 2019

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Fiscal Year Ending Dec.
2017

Revenue

$47,637,148

Expenses

$44,359,862

Net Income

$3,277,286

Net Assets

$37,401,028

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$45,840,080	96.2%
Investment Income	$169,987	0.4%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	-$60,286
Net Inventory Sales	-$56,403
Other Revenue	$1,743,770	3.7%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$669,194	1.5%
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$103,142,625
Total Liabilities	$65,741,597
Net Assets	$37,401,028

Club or Co-Op Income
Income From Members	$46,802,129
Income From Other Sources	$1,463,388

Reported conflict of interest transactions

Compensation

Key Employees and Officers	Compensation	Related	Other
David Sunderman (Ceo)	$210,659	$0	$50,727
Tim Braulick (Manager Of Operations/Eng)	$124,147	$0	$44,616
Sandy Sowieja (Manager Of Finance And Adm)	$119,603	$0	$45,164
Wade Hensel (General Manager Part Year)	$104,645	$0	$21,433
John Hutchens (Manager Of Energy Service)	$104,473	$0	$41,393
Warren Johnson (Chairman)	$16,438	$0	$0
Harlan Lanz (Secretary)	$16,075	$0	$0
John Wells (Director)	$14,875	$0	$0
Garfield Eckberg (Director)	$14,150	$0	$0
Gary Stenzel (Vice Chairman)	$12,000	$0	$0
Bradley Leiding (Director)	$11,400	$0	$0
Marilyn Lynch (Director)	$11,275	$0	$0
Blake Meshke (Treasurer)	$10,675	$0	$0
Duane Ehrich (Director)	$10,075	$0	$0

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990

Filed on July 5, 2018

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Fiscal Year Ending Dec.
2016

Revenue

$46,169,037

Expenses

$45,090,516

Net Income

$1,078,521

Net Assets

$34,086,739

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$45,025,254	97.5%
Investment Income	$182,914	0.4%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$41,558	0.1%
Net Inventory Sales	-$224,931
Other Revenue	$1,144,242	2.5%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$445,374	1.0%
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$93,785,217
Total Liabilities	$59,698,478
Net Assets	$34,086,739

Club or Co-Op Income
Income From Members	$45,424,215
Income From Other Sources	$1,372,293

Reported conflict of interest transactions

Compensation

Key Employees and Officers	Compensation	Related	Other
David Sunderman (Ceo)	$137,533	$0	$45,075
Wade Hensel (General Manager)	$129,403	$0	$35,340
Sandy Sowieja (Manager Of Finance And Adm)	$112,906	$0	$41,625
John Wells (Director)	$17,950	$0	$0
Warren Johnson (Chairman)	$17,600	$0	$0
Garfield Eckberg (Director)	$16,950	$0	$0
Harlan Lanz (Secretary Co)	$15,925	$0	$0
Gary Stenzel (Vice Chairman)	$14,175	$0	$0
Blake Meshke (Treasurer)	$12,625	$0	$0
Bradley Leiding (Director)	$11,175	$0	$0
Duane Ehrich (Director)	$11,125	$0	$0
Harvey Hesse (Secretary)	$8,575	$0	$0

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990

Filed on July 10, 2017

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Fiscal Year Ending Dec.
2015

Revenue

$37,523,277

Expenses

$37,013,614

Net Income

$509,663

Net Assets

$32,397,665

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$37,000,036	98.6%
Investment Income	$134,292	0.4%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	-$10,871
Net Inventory Sales	-$193,621
Other Revenue	$593,441	1.6%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$421,539	1.1%
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$91,658,573
Total Liabilities	$59,260,908
Net Assets	$32,397,665

Club or Co-Op Income
Income From Members	$37,023,036
Income From Other Sources	$899,140

Reported conflict of interest transactions

Compensation

Key Employees and Officers	Compensation	Related	Other
David Sunderman (Member Services Manager)	$125,637	$0	$43,767
Wade Hensel (General Manager)	$122,105	$0	$34,835
Sandy Sowieja (Manager Of Finance And Adm)	$110,234	$0	$39,840
John Wells (Director)	$15,880	$0	$0
Harlan Lanz (Treasurer)	$15,830	$0	$0
Scott Johnson (Vice Chairman)	$15,070	$0	$0
Gary Stenzel (Director)	$12,350	$0	$0
Duane Ehrich (Chairman)	$12,245	$0	$0
Bradley Leiding (Director)	$11,395	$0	$0
Garfield Eckberg (Director)	$11,025	$0	$0
Blake Meshke (Director)	$10,945	$0	$0
Harvey Hesse (Secretary)	$9,785	$0	$0

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990

Filed on July 14, 2016

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Fiscal Year Ending Dec.
2014

Revenue

$35,983,515

Expenses

$34,578,146

Net Income

$1,405,369

Net Assets

$30,945,498

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$34,448,934	95.7%
Investment Income	$148,738	0.4%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$44,051	0.1%
Net Inventory Sales	-$129,481
Other Revenue	$1,471,273	4.1%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$417,470	1.2%
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$71,602,165
Total Liabilities	$40,656,667
Net Assets	$30,945,498

Club or Co-Op Income
Income From Members	$34,458,934
Income From Other Sources	$2,114,749

Reported conflict of interest transactions

Compensation

Key Employees and Officers	Compensation	Related	Other
David Sunderman (Member Services Manager)	$121,674	$0	$53,384
Wade Hensel (General Manager)	$117,338	$0	$41,716
Sandy Sowieja (Manager Of Finance And Adm)	$100,427	$0	$43,284
John Wells (Director)	$16,535	$0	$0
Harlan Lanz (Treasurer)	$13,880	$0	$0
Garfield Eckberg (Director)	$13,575	$0	$0
Warren Johnson (Vice Chairman)	$13,450	$0	$0
Gary Stenzel (Director)	$12,835	$0	$0
Duane Ehrich (Chairman)	$12,700	$0	$0
Bradley Leiding (Director)	$11,540	$0	$0
Blake Meshke (Director)	$10,675	$0	$0
Harvey Hesse (Secretary)	$9,515	$0	$0

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990

Filed on July 7, 2015

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Fiscal Year Ending Dec.
2013

Revenue

$34,022,997

Expenses

$34,198,254

Net Income

-$175,257

Net Assets

$28,851,458

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$32,769,727	96.3%
Investment Income	$170,758	0.5%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$22,722	0.1%
Net Inventory Sales	-$108,533
Other Revenue	$1,168,323	3.4%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$395,123	1.2%
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$71,122,401
Total Liabilities	$42,270,943
Net Assets	$28,851,458

Club or Co-Op Income
Income From Members	$32,887,506
Income From Other Sources	$1,692,269

Reported conflict of interest transactions

Compensation

Key Employees and Officers	Compensation	Related	Other
David Sunderman (Member Services Manager)	$113,824	$0	$50,445
Wade Hensel (General Manager)	$108,711	$0	$39,258
Sandy Sowieja (Manager Of Finance And Administration)	$92,144	$0	$40,920
John Wells (Director)	$16,285	$0	$0
Harlan Lanz (Treasurer)	$15,885	$0	$0
Garfield Eckberg (Director)	$14,375	$0	$0
Warren Johnson (Vice Chairman)	$13,080	$0	$0
Bradley Leiding (Director)	$12,030	$0	$0
Duane Ehrich (Chairman)	$11,315	$0	$0
Gary Stenzel (Director)	$11,230	$0	$0
Blake Meshke (Director)	$10,890	$0	$0
Harvey Hesse (Secretary)	$9,000	$0	$0

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990

Filed on Sept. 2, 2014

Primary tax return for a nonprofit’s activities, finances, and governance

View Filing

Schedules ▼

PDF XML

Fiscal Year Ending Dec.
2012

Revenue

$31,871,359

Expenses

$31,676,989

Net Income

$194,370

Net Assets

$27,486,441

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$30,371,816	95.3%
Investment Income	$149,247	0.5%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$3,500	0.0%
Net Inventory Sales	-$60,557
Other Revenue	$1,407,353	4.4%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$412,824	1.3%
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$65,033,175
Total Liabilities	$37,546,734
Net Assets	$27,486,441

Club or Co-Op Income
Income From Members	$30,814,168
Income From Other Sources	$368,311

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

Fiscal Year Ending Dec.
2011

Revenue

$29,808,143

Expenses

$28,730,701

Net Income

$1,077,442

Net Assets

$25,958,690

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$29,437,567	98.8%
Investment Income	$131,353	0.4%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$18,117	0.1%
Net Inventory Sales	-$33,359
Other Revenue	$254,465	0.9%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$430,737	1.5%
Professional Fundraising Fees	$0
Other Salaries and Wages	$2,161,685	7.5%

Assets/Debt
Total Assets	$61,138,585
Total Liabilities	$35,179,895
Net Assets	$25,958,690

Club or Co-Op Income
Income From Members	$28,992,157
Income From Other Sources	$554,521

Nonprofit Explorer has organizations claiming tax exemption in each of the 27 subsections of the 501(c) section of the tax code, and which have filed a Form 990, Form 990EZ or Form 990PF. Taxable trusts and private foundations that are required to file a form 990PF are also included. Small organizations filing a Form 990N "e-Postcard" are not included in this data.

Types of Nonprofits

There are 27 nonprofit designations based on the numbered subsections of section 501(c) of the tax code. See the list »

Get the Data

For those interested in acquiring the original data from the source, here’s where our data comes from:

Raw filing data. Includes EINs and summary financials as structured data.
Exempt Organization profiles. Includes organization names, addresses, etc. You can merge this with the raw filing data using EIN numbers.
Form 990 documents. Prior to 2017, these documents were obtained and processed by Public.Resource.org and ProPublica. Bulk PDF downloads since 2017 are available from the IRS.
Form 990 documents as XML files. Includes complete filing data (financial details, names of officers, tax schedules, etc.) in machine-readable format. Only available for electronically filed documents. Electronic data released prior to October 2021 is also available through Amazon Web Services.
Audits. PDFs of single or program-specific audits for nonprofit organizations that spent $750,000 or more in Federal grant money in a single fiscal year. Available for fiscal year 2015 and later.

API

The data powering this website is available programmatically, via an API. Read the API documentation »

By Andrea Suozzo, Alec Glassford and Ash Ngu, ProPublica, and Brandon Roberts, Special to ProPublica.
Design by Jeff Frankl. Additional development by Ken Schwencke, Mike Tigas, and Sisi Wei.

E-file viewer adapted from IRS e-File Viewer by Ben Getson. Code for scraping audit documents adapated from Govwiki.

Updated November 21, 2024

Blue Earth Nicollet Faribault Cooperative Electric Association

Organization summary

Type of Nonprofit

Details

Summary charts: organization finances over time

Revenue $53.9M (2023)

Expenses $53.9M (2023)

Total Assets $144M (2023)

Total Liabilities $86.9M (2023)

Tax Filings and Audits by Year

Fiscal Year Ending Dec. 2023

Extracted Financial Data

Extracted Financial Data from Form 990

Other

Compensation

Document Links

990

Fiscal Year Ending Dec. 2022

Extracted Financial Data

Extracted Financial Data from Form 990

Other

Compensation

Document Links

990

Fiscal Year Ending Dec. 2021

Extracted Financial Data

Extracted Financial Data from Form 990

Other

Compensation

Document Links

990

Audits

Fiscal Year Ending Dec. 2020

Extracted Financial Data

Extracted Financial Data from Form 990

Other

Compensation

Document Links

990

Audits

Fiscal Year Ending Dec. 2019

Extracted Financial Data

Extracted Financial Data from Form 990

Other

Compensation

Document Links

990

Fiscal Year Ending Dec. 2018

Extracted Financial Data

Extracted Financial Data from Form 990

Other

Compensation

Document Links

990

Fiscal Year Ending Dec. 2017

Extracted Financial Data

Extracted Financial Data from Form 990

Other

Compensation

Document Links

990

Fiscal Year Ending Dec. 2016

Extracted Financial Data

Extracted Financial Data from Form 990

Other

Compensation

Document Links

990

Fiscal Year Ending Dec. 2015

Extracted Financial Data

Extracted Financial Data from Form 990

Other

Compensation

Document Links

990

Fiscal Year Ending Dec. 2014

Extracted Financial Data

Extracted Financial Data from Form 990

Other

Compensation

Revenue

$53.9M (2023)

Expenses

$53.9M (2023)

Total Assets

$144M (2023)

Total Liabilities

$86.9M (2023)

Fiscal Year Ending Dec.
2023

Fiscal Year Ending Dec.
2022

Fiscal Year Ending Dec.
2021

Fiscal Year Ending Dec.
2020

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2019

Fiscal Year Ending Dec.
2018

Fiscal Year Ending Dec.
2017

Fiscal Year Ending Dec.
2016

Fiscal Year Ending Dec.
2015

Fiscal Year Ending Dec.
2014

Fiscal Year Ending Dec.
2013

Fiscal Year Ending Dec.
2012

Fiscal Year Ending Dec.
2011

Fiscal Year Ending Dec.
2010

Fiscal Year Ending Dec.
2009

Fiscal Year Ending Dec.
2008

Fiscal Year Ending Dec.
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Fiscal Year Ending Dec.
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Fiscal Year Ending Dec.
2005

Fiscal Year Ending Dec.
2004