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Runestone Telephone Association

  • Hoffman, MN
  • Tax-exempt since March 1963
  • EIN: 41-0733426

Organization summary

Type of Nonprofit

Designated as a Benevolent life insurance associations, irrigation companies, telephone companies, etc., which have a mutually beneficial nature.

Donations to this organization are not tax deductible.

Summary charts: organization finances over time

Revenue
$12.4M (2023)

Expenses
$10.5M (2023)

Total Assets
$37M (2023)

Total Liabilities
$1.74M (2023)

Source: Form 990 tax filings from 2011 to 2023

Tax Filings 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.

Fiscal Year Ending Dec.
2023

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$12,390,032
Expenses
$10,466,406
Net Income
$1,923,626
Net Assets
$35,286,440
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $12,113,973
97.8%
Investment Income $122,202
1.0%
Bond Proceeds $0
Royalties $0
Rental Property Income $80,169
0.6%
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $73,688
0.6%
Notable Expenses Percent of Total Expenses
Executive Compensation $420,161
4.0%
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $37,028,271
Total Liabilities $1,741,831
Net Assets $35,286,440
Club or Co-Op Income
Income From Members $6,074,232
Income From Other Sources $420,625
Compensation
Key Employees and Officers Compensation Related Other
Kent Hedstrom (General Manager/Ceo) $268,580 $0 $86,331
Russ Froemming (Network Technician) $129,552 $0 $56,130
Ryan Schonhardt (Office Manager/Cfo) $115,198 $0 $43,227
Chris Veldhouse (Outside Plant Manager) $105,283 $0 $54,253
Robert Leegaard (President) $13,680 $0 $0
John Kapphahn (Secretary/Treasurer) $13,230 $0 $0
Tory Belgum (Vice President) $12,780 $0 $0
Richard Staples (Director) $12,780 $0 $0
Jolene Vipond (Director) $12,780 $0 $0
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Document Links

990
Filed on June 17, 2024

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

View Filing
XML

Fiscal Year Ending Dec.
2022

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$11,787,535
Expenses
$8,299,942
Net Income
$3,487,593
Net Assets
$32,106,585
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $11,594,246
98.4%
Investment Income $49,599
0.4%
Bond Proceeds $0
Royalties $0
Rental Property Income $79,757
0.7%
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $63,933
0.5%
Notable Expenses Percent of Total Expenses
Executive Compensation $356,817
4.3%
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $33,594,503
Total Liabilities $1,487,918
Net Assets $32,106,585
Club or Co-Op Income
Income From Members $5,529,528
Income From Other Sources $326,603
Compensation
Key Employees and Officers Compensation Related Other
Kent Hedstrom (General Manager/Ceo) $213,495 $0 $82,922
Ryan Schonhardt (Office Manager/Cfo) $109,884 $0 $49,968
Russ Froemming (Network Technician) $109,167 $0 $57,101
Robert Leegaard (President) $12,480 $0 $0
John Kapphahn (Secretary/Treasurer) $12,180 $0 $0
Jolene Vipond (Director) $11,980 $0 $0
Tory Belgum (Vice President) $11,880 $0 $0
Richard Staples (Director) $11,880 $0 $0
+ View more people

Document Links

990
Filed on June 21, 2023

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

View Filing
PDF XML

Fiscal Year Ending Dec.
2021

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$11,495,965
Expenses
$10,585,142
Net Income
$910,823
Net Assets
$30,814,542
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $11,310,039
98.4%
Investment Income $39,442
0.3%
Bond Proceeds $0
Royalties $0
Rental Property Income $86,100
0.7%
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $60,384
0.5%
Notable Expenses Percent of Total Expenses
Executive Compensation $321,965
3.0%
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $32,214,901
Total Liabilities $1,400,359
Net Assets $30,814,542
Club or Co-Op Income
Income From Members $5,127,698
Income From Other Sources $425,206
Compensation
Key Employees and Officers Compensation Related Other
Kent Hedstrom (General Manager/Ceo) $187,725 $0 $74,840
Jeanne Meidl (Office Manager/Cfo) $146,497 $0 $60,537
Ryan Schonhardt (Network Technician) $111,705 $0 $47,803
Robert Leegaard (President) $11,880 $0 $0
Tory Belgum (Vice President) $11,880 $0 $0
John Kapphahn (Secretary/Treasurer) $11,880 $0 $0
Richard Staples (Director) $11,880 $0 $0
Jolene Vipond (Director) $11,880 $0 $0
+ View more people

Document Links

990
Filed on June 22, 2022

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

View Filing
XML

Fiscal Year Ending Dec.
2020

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$11,079,391
Expenses
$9,133,723
Net Income
$1,945,668
Net Assets
$27,924,124
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $10,832,029
97.8%
Investment Income $126,228
1.1%
Bond Proceeds $0
Royalties $0
Rental Property Income $95,173
0.9%
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $25,961
0.2%
Notable Expenses Percent of Total Expenses
Executive Compensation $339,739
3.7%
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $29,399,452
Total Liabilities $1,475,328
Net Assets $27,924,124
Club or Co-Op Income
Income From Members $4,626,175
Income From Other Sources $486,950
Compensation
Key Employees and Officers Compensation Related Other
Kent Hedstrom (General Manager/Ceo) $204,703 $0 $74,636
Jeanne Meidl (Office Manager/Cfo) $146,931 $0 $56,390
Ryan Schonhardt (Network Technician) $106,560 $0 $45,975
Clayton Drews (Internet Manager) $106,000 $0 $54,518
Richard Staples (Director) $12,280 $0 $0
Robert Leegaard (President) $12,180 $0 $0
John Kapphahn (Secretary/Treasurer) $12,180 $0 $0
Tory Belgum (Vice President) $11,880 $0 $0
Jolene Vipond (Director) $11,880 $0 $0
+ View more people

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990
Filed on July 15, 2021

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

View Filing
XML

Fiscal Year Ending Dec.
2019

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$10,869,301
Expenses
$7,877,834
Net Income
$2,991,467
Net Assets
$24,873,276
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $10,654,266
98.0%
Investment Income $85,778
0.8%
Bond Proceeds $0
Royalties $0
Rental Property Income $107,467
1.0%
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $21,790
0.2%
Notable Expenses Percent of Total Expenses
Executive Compensation $332,538
4.2%
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $26,137,925
Total Liabilities $1,264,649
Net Assets $24,873,276
Club or Co-Op Income
Income From Members $4,432,056
Income From Other Sources $483,706
Compensation
Key Employees and Officers Compensation Related Other
Kent Hedstrom (General Manager/Ceo) $201,886 $0 $69,752
Jeanne Meidl (Office Manager/Cfo) $149,645 $0 $53,795
Clayton Drews (Internet Manager) $105,703 $0 $50,523
Robert Leegaard (President) $12,580 $0 $0
John Kapphahn (Secretary/Treasurer) $12,280 $0 $0
Richard Staples (Director) $12,280 $0 $0
Tory Belgum (Vice President) $11,880 $0 $0
Jolene Vipond (Director) $11,880 $0 $0
+ View more people

Document Links

990
Filed on June 16, 2020

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

View Filing
PDF XML

Fiscal Year Ending Dec.
2018

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$7,803,875
Expenses
$7,554,588
Net Income
$249,287
Net Assets
$21,012,155
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $7,595,169
97.3%
Investment Income $52,130
0.7%
Bond Proceeds $0
Royalties $0
Rental Property Income $104,242
1.3%
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $52,334
0.7%
Notable Expenses Percent of Total Expenses
Executive Compensation $307,224
4.1%
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $22,339,066
Total Liabilities $1,326,911
Net Assets $21,012,155
Club or Co-Op Income
Income From Members $4,123,228
Income From Other Sources $551,312
Compensation
Key Employees and Officers Compensation Related Other
Kent Hedstrom (General Manager/Ceo) $189,249 $0 $57,576
Jeanne Meidl (Office Manager/Cfo) $136,746 $0 $41,754
Clayton Drews (Internet Manager) $102,302 $0 $42,254
Richard Staples (Director) $12,280 $0 $0
Robert Leegaard (President) $12,180 $0 $0
John Kapphahn (Secretary/Treasurer) $12,180 $0 $0
Tory Belgum (Vice President) $11,880 $0 $0
Jolene Vipond (Director) $11,880 $0 $0
+ View more people

Document Links

990
Filed on June 20, 2019

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

View Filing
PDF XML

Fiscal Year Ending Dec.
2017

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$7,203,399
Expenses
$6,199,690
Net Income
$1,003,709
Net Assets
$20,145,828
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $7,041,722
97.8%
Investment Income $38,275
0.5%
Bond Proceeds $0
Royalties $0
Rental Property Income $96,833
1.3%
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $26,569
0.4%
Notable Expenses Percent of Total Expenses
Executive Compensation $323,880
5.2%
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $21,441,210
Total Liabilities $1,295,382
Net Assets $20,145,828
Club or Co-Op Income
Income From Members $3,939,680
Income From Other Sources $536,283
Compensation
Key Employees and Officers Compensation Related Other
Kent Hedstrom (General Manager/Ceo) $204,081 $0 $58,499
Jeanne Meidl (Office Manager/Cfo) $134,801 $0 $40,007
Clayton Drews (Internet Manager) $104,974 $0 $40,340
Robert Leegaard (President) $12,580 $0 $0
Richard Staples (Director) $12,280 $0 $0
Tory Belgum (Vice President) $12,180 $0 $0
John Kapphahn (Secretary/Treasurer) $12,180 $0 $0
Jolene Vipond (Director) $12,080 $0 $0
+ View more people

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990
Filed on June 22, 2018

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

View Filing
PDF XML

Fiscal Year Ending Dec.
2016

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$6,981,600
Expenses
$6,293,294
Net Income
$688,306
Net Assets
$18,816,553
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $6,785,049
97.2%
Investment Income $35,520
0.5%
Bond Proceeds $0
Royalties $0
Rental Property Income $96,373
1.4%
Net Fundraising $0
Sales of Assets $21,600
0.3%
Net Inventory Sales $0
Other Revenue $43,058
0.6%
Notable Expenses Percent of Total Expenses
Executive Compensation $283,841
4.5%
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $20,119,701
Total Liabilities $1,303,148
Net Assets $18,816,553
Club or Co-Op Income
Income From Members $3,821,457
Income From Other Sources $493,780
Compensation
Key Employees and Officers Compensation Related Other
Kent Hedstrom (General Manager/Ceo) $170,683 $0 $53,448
Jeanne Meidl (Office Manager/Cfo) $129,823 $0 $36,046
Clayton Drews (Internet Manager) $101,452 $0 $36,574
Robert Leegaard (President) $12,180 $0 $0
John Kapphahn (Secretary/Treasurer) $12,180 $0 $0
Tory Belgum (Vice President) $11,880 $0 $0
Jolene Vipond (Director) $11,880 $0 $0
Richard Staples (Director) $11,590 $0 $0
+ View more people

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990
Filed on May 31, 2017

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

View Filing
PDF XML

Fiscal Year Ending Dec.
2015

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$6,701,657
Expenses
$6,441,319
Net Income
$260,338
Net Assets
$17,495,043
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $6,509,570
97.1%
Investment Income $41,103
0.6%
Bond Proceeds $0
Royalties $0
Rental Property Income $95,263
1.4%
Net Fundraising $0
Sales of Assets $20,224
0.3%
Net Inventory Sales $0
Other Revenue $35,497
0.5%
Notable Expenses Percent of Total Expenses
Executive Compensation $390,401
6.1%
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $18,900,126
Total Liabilities $1,405,083
Net Assets $17,495,043
Club or Co-Op Income
Income From Members $3,621,176
Income From Other Sources $488,494
Compensation
Key Employees and Officers Compensation Related Other
Lee Maier (General Manager (Through 12/2/15)) $263,393 $0 $60,019
Kent Hedstrom (Plant Manager/General Manager (12/2/15 12/31/15)) $128,266 $0 $40,390
Jeanne Meidl (Office Manager) $123,471 $0 $33,978
Clayton Drews (Internet Manager) $100,051 $0 $35,258
Richard Staples (Director) $12,580 $0 $0
Tory Belgum (Vice President) $12,480 $0 $0
Robert Leegaard (President) $12,380 $0 $0
John Kapphahn (Secretary/Treasurer) $12,380 $0 $0
Jolene Vipond (Director) $11,880 $0 $0
Connie Reuss (Director) $5,289 $0 $0
+ View more people

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990
Filed on July 19, 2016

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

View Filing
PDF XML

Fiscal Year Ending Dec.
2014

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$6,500,274
Expenses
$5,923,517
Net Income
$576,757
Net Assets
$17,033,755
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $6,278,623
96.6%
Investment Income $30,980
0.5%
Bond Proceeds $0
Royalties $0
Rental Property Income $95,852
1.5%
Net Fundraising $0
Sales of Assets $43,079
0.7%
Net Inventory Sales $0
Other Revenue $51,740
0.8%
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $402,784
6.8%
Assets/Debt
Total Assets $17,934,256
Total Liabilities $900,501
Net Assets $17,033,755
Club or Co-Op Income
Income From Members $3,552,712
Income From Other Sources $496,706
Compensation
Key Employees and Officers Compensation Related Other
Lee Maier (General Manager) $271,475 $0 $58,704
Jeanne Meidl (Office Manager) $114,959 $0 $31,788
Kent Hedstrom (Plant Manager) $114,674 $0 $37,394
John Kapphahn (Secretary/Treasurer) $12,280 $0 $0
Jolene Vipond (Director) $12,280 $0 $0
Connie Reuss (Director) $12,205 $0 $0
Tory Belgum (Vice President) $12,080 $0 $0
Robert Leegaard (President) $11,880 $0 $0
Richard Staples (Director) $11,880 $0 $0
+ View more people

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990
Filed on Aug. 10, 2015

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

View Filing
PDF XML

Fiscal Year Ending Dec.
2013

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$6,488,700
Expenses
$6,104,083
Net Income
$384,617
Net Assets
$17,271,833
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $6,300,739
97.1%
Investment Income $35,549
0.5%
Bond Proceeds $0
Royalties $0
Rental Property Income $97,247
1.5%
Net Fundraising $0
Sales of Assets $24,023
0.4%
Net Inventory Sales $0
Other Revenue $31,142
0.5%
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $371,015
6.1%
Assets/Debt
Total Assets $18,041,047
Total Liabilities $769,214
Net Assets $17,271,833
Club or Co-Op Income
Income From Members $3,531,609
Income From Other Sources $455,648
Compensation
Key Employees and Officers Compensation Related Other
Lee Maier (General Manager) $236,400 $0 $59,935
Jeanne Meidl (Office Manager) $105,788 $0 $34,611
Kent Hedstrom (Plant Manager) $105,476 $0 $37,292
Tory Belgum (Vice President) $12,780 $0 $0
Connie Reuss (Director) $12,580 $0 $0
Richard Staples (Director) $12,480 $0 $0
Jolene Vipond (Director) $12,380 $0 $0
John Kapphahn (Secretary/Treasurer) $12,280 $0 $0
Robert Leegaard (President) $12,180 $0 $0
+ View more people

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990
Filed on Aug. 14, 2014

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

View Filing
PDF XML

Fiscal Year Ending Dec.
2012

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$6,520,485
Expenses
$6,146,281
Net Income
$374,204
Net Assets
$17,030,066
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $6,334,801
97.2%
Investment Income $41,830
0.6%
Bond Proceeds $0
Royalties $0
Rental Property Income $100,086
1.5%
Net Fundraising $0
Sales of Assets $3,400
0.1%
Net Inventory Sales $0
Other Revenue $40,368
0.6%
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $303,875
4.9%
Assets/Debt
Total Assets $17,768,453
Total Liabilities $738,387
Net Assets $17,030,066
Club or Co-Op Income
Income From Members $3,549,999
Income From Other Sources $457,593

Document Links

990

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

PDF

Fiscal Year Ending Dec.
2011

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$6,671,391
Expenses
$5,747,196
Net Income
$924,195
Net Assets
$16,760,094
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $6,487,031
97.2%
Investment Income $46,298
0.7%
Bond Proceeds $0
Royalties $0
Rental Property Income $94,569
1.4%
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $43,493
0.7%
Notable Expenses Percent of Total Expenses
Executive Compensation $304,086
5.3%
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $17,800,293
Total Liabilities $1,040,199
Net Assets $16,760,094
Club or Co-Op Income
Income From Members $3,358,935
Income From Other Sources $587,376

Document Links

990

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

PDF

About This Data

Nonprofit Explorer includes summary data for nonprofit tax returns and full Form 990 documents, in both PDF and digital formats.

The summary data contains information processed by the IRS during the 2012-2019 calendar years; this generally consists of filings for the 2011-2018 fiscal years, but may include older records. This data release includes only a subset of what can be found in the full Form 990s.

In addition to the raw summary data, we link to PDFs and digital copies of full Form 990 documents wherever possible. This consists of separate releases by the IRS of Form 990 documents processed by the agency, which we update regularly.

We also link to copies of audits nonprofit organizations that spent $750,000 or more in Federal grant money in a single fiscal year since 2016. These audits are copied from the Federal Audit Clearinghouse.

Which Organizations Are Here?

Every organization that has been recognized as tax exempt by the IRS has to file Form 990 every year, unless they make less than $200,000 in revenue and have less than $500,000 in assets, in which case they have to file form 990-EZ. Organizations making less than $50,000 don’t have to file either form but do have to let the IRS they’re still in business via a Form 990N "e-Postcard."

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.

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Byline

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.

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