Iowa Lakes Electric Cooperative

Estherville, IA
Tax-exempt since May 1986
EIN: 42-1259366

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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.

Category: Public, Society Benefit — Multipurpose and Other / Public Utilities (NTEE)

Donations to this organization are not tax deductible.

Revenue

$73.8M (2023)

Expenses

$67.9M (2023)

Total Assets

$179M (2023)

Total Liabilities

$54.3M (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

$73,826,421

Expenses

$67,867,720

Net Income

$5,958,701

Net Assets

$124,784,905

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$67,353,873	91.2%
Investment Income	$524,417	0.7%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$35,771	0.0%
Net Inventory Sales	-$38,097
Other Revenue	$5,950,457	8.1%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$1,062,706	1.6%
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$179,052,148
Total Liabilities	$54,267,243
Net Assets	$124,784,905

Club or Co-Op Income
Income From Members	$74,368,362
Income From Other Sources	$1,738,685

Compensation

Key Employees and Officers	Compensation	Related	Other
Aaron Ruschy (Vp Of Operations & Engineering)	$187,930	$0	$87,834
Shelly Tredway (Vp Of Finance/Cfo)	$161,096	$0	$63,026
Tim Mccollough (President/Ceo)	$156,959	$0	$17,475
Jennifer Sievert (Vp Of Customer & Corp Relations)	$151,875	$0	$56,376
Alden Zeitz (Manager Of Renewable Energy Services)	$121,444	$0	$59,264
Brian Scott (Superintendent Of Field Operations)	$119,461	$0	$61,724
Kristin Hanson (Manager Of Hr)	$114,537	$0	$42,954
Jed Skogerboe (Manager Of Business And Community Development)	$114,293	$0	$49,586
Mike Kummer (Line Foreman)	$109,218	$0	$66,726
Ryan Craig (President/Ceo)	$67,005	$0	$7,530
Neal Heldt (Director)	$11,300	$0	$0
Jerry Beck (Chairman)	$9,550	$0	$0
Gary Rouse (Vice Chairman)	$9,550	$0	$0
Bruce Amundson (Director)	$8,500	$0	$0
Daniel Winterhof (Treasurer)	$8,150	$0	$0
Crystal Pluth (Director)	$8,150	$0	$0
Alan Madden (Director)	$8,050	$0	$0
Roger Williamson (Director)	$7,800	$0	$0
Chad Boysen (Director)	$7,800	$0	$0
Trent Will (Secretary)	$7,450	$0	$0
Mark Tuttle (Director)	$6,400	$0	$0
David Friedrich (Director)	$5,350	$0	$0
Craig Deim (Director)	$5,000	$0	$0
Marc Rush (Director)	$2,200	$0	$0
Ben Ashland (Director)	$350	$0	$0

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990

Filed on Sept. 4, 2024

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Fiscal Year Ending Dec.
2022

Revenue

$73,260,940

Expenses

$67,916,375

Net Income

$5,344,565

Net Assets

$118,766,822

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$65,402,557	89.3%
Investment Income	$269,045	0.4%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$24,512	0.0%
Net Inventory Sales	$17,306	0.0%
Other Revenue	$7,547,520	10.3%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$1,724,050	2.5%
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$175,789,673
Total Liabilities	$57,022,851
Net Assets	$118,766,822

Club or Co-Op Income
Income From Members	$73,778,769
Income From Other Sources	$898,656

Compensation

Key Employees and Officers	Compensation	Related	Other
Tim Mccollough (President/Ceo)	$246,997	$0	$28,870
September Dau (Sr Vp Of Finance)	$206,100	$0	$58,421
Rick Olesen (President/Ceo Part Year)	$198,593	$0	$16,912
Aaron Ruschy (Vp Of Operations & Engineering)	$175,927	$0	$113,256
Pam Caboth (Vp Of Administrative Servi)	$141,231	$0	$60,338
Jennifer Sievert (Vp Of Customer & Corp Relations)	$133,421	$0	$43,217
Doug Dau (Manager Of Information Technology And Tech Support)	$121,990	$0	$65,412
Alden Zeitz (Manager Of Renewable Energy Services)	$116,890	$0	$66,120
Shelly Tredway (Vp Of Finance/Cfo)	$116,186	$0	$77,731
Brian Scott (Superintendent Of Field Operations)	$114,530	$0	$74,509
Jed Skogerboe (Manager Of Business And Community Development)	$112,051	$0	$60,402
Kristin Hanson (Manager Of Hr)	$107,121	$0	$53,868
Daniel Winterhof (Treasurer)	$9,650	$0	$0
Jerry Beck (Chairman)	$8,600	$0	$0
Bruce Amundson (Director)	$8,400	$0	$0
Gary Rouse (Vice Chairman)	$8,250	$0	$0
Craig Deim (Director)	$8,050	$0	$0
Crystal Pluth (Director)	$8,050	$0	$0
Mark Tuttle (Director)	$8,050	$0	$0
Neal Heldt (Director)	$7,700	$0	$0
Marc Rush (Director)	$7,350	$0	$0
Roger Williamson (Director)	$7,350	$0	$0
Chad Boysen (Director)	$7,000	$0	$0
David Friedrich (Director)	$6,650	$0	$0
Alan Madden (Director)	$6,300	$0	$0
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990

Filed on Sept. 12, 2023

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Fiscal Year Ending Dec.
2021

Revenue

$68,291,822

Expenses

$65,777,836

Net Income

$2,513,986

Net Assets

$112,054,182

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$64,640,197	94.7%
Investment Income	$184,715	0.3%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$8,151	0.0%
Net Inventory Sales	-$92,505
Other Revenue	$3,551,264	5.2%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$1,328,474	2.0%
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$167,443,125
Total Liabilities	$55,388,943
Net Assets	$112,054,182

Club or Co-Op Income
Income From Members	$65,730,129
Income From Other Sources	$3,826,456

Compensation

Key Employees and Officers	Compensation	Related	Other
Rick Olesen (President/Ceo)	$259,707	$0	$92,514
September Dau (Sr Vp Of Finance)	$197,474	$0	$54,277
Aaron Ruschy (Vp Of Operations & Engineering)	$166,766	$0	$71,238
Pam Caboth (Vp Of Administrative Services)	$129,041	$0	$54,220
Doug Dau (Manager Of It)	$117,196	$0	$60,873
Shelly Tredway (Manager Of Accounting)	$112,866	$0	$49,873
Alden Zeitz (Manager Of Renewable Energy)	$111,181	$0	$49,325
Brian Scott (Field Superintendent)	$111,021	$0	$56,102
Jed Skogerboe (Mgr Of Business & Community Dev)	$105,301	$0	$32,655
Tresa Hussong (Vp Customer & Corp Relations Part Year)	$78,871	$0	$34,937
Jennifer Sievert (Vp Customer & Corp Relations)	$57,773	$0	$10,206
Daniel Winterhof (Treasurer)	$11,900	$0	$0
Jerry Beck (Chairman)	$11,025	$0	$0
Trent Will (Secretary)	$9,800	$0	$0
Roger Williamson (Director)	$9,800	$0	$0
Mark Tuttle (Director)	$9,450	$0	$0
Crystal Pluth (Director)	$9,100	$0	$0
Alan Madden (Director)	$8,750	$0	$0
Neal Heldt (Director)	$8,400	$0	$0
Bruce Amundson (Director)	$8,050	$0	$0
Chad Boysen (Director)	$8,050	$0	$0
David Friedrich (Director)	$8,050	$0	$0
Gary Rouse (Director)	$8,050	$0	$0
Craig Deim (Vice Chairman)	$5,950	$0	$0
Marc Rush (Director)	$5,075	$0	$0

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990

Filed on Sept. 13, 2022

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Fiscal Year Ending Dec.
2020

Revenue

$65,953,608

Expenses

$63,418,433

Net Income

$2,535,175

Net Assets

$108,215,526

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$61,930,923	93.9%
Investment Income	$192,913	0.3%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$15,161	0.0%
Net Inventory Sales	-$32,274
Other Revenue	$3,846,885	5.8%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$1,296,695	2.0%
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$166,721,612
Total Liabilities	$58,506,086
Net Assets	$108,215,526

Club or Co-Op Income
Income From Members	$63,379,376
Income From Other Sources	$4,070,640

Compensation

Key Employees and Officers	Compensation	Related	Other
Rick Olesen (President/Ceo)	$257,386	$0	$86,559
September Dau (Sr Vp Of Finance)	$191,270	$0	$48,556
Aaron Ruschy (Vp Of Operations & Enginee)	$159,779	$0	$66,527
Tresa Hussong (Vp Of Customer & Corporate)	$153,463	$0	$56,960
Pam Caboth (Vp Of Administrative Servi)	$121,579	$0	$47,666
Doug Dau (Manager Of It)	$113,001	$0	$56,321
Shelly Tredway (Manager Of Accounting)	$109,141	$0	$46,191
Brian Scott (Field Superintendent)	$108,496	$0	$51,371
Alden Zeitz (Mgr Of Renewable Energy)	$107,984	$0	$45,667
Mike Kummer (Estherville/Swea City Foreman)	$104,035	$0	$46,687
Jerry Beck (Chairman)	$10,950	$0	$0
Crystal Pluth (Director)	$10,500	$0	$0
Alan Madden (Director)	$9,900	$0	$0
Chad Boysen (Director)	$8,050	$0	$0
Roger Williamson (Director)	$8,050	$0	$0
Bruce Amundson (Director)	$7,700	$0	$0
Neal Heldt (Director)	$7,500	$0	$0
Daniel Winterhof (Treasurer)	$7,350	$0	$0
Craig Diem (Vice Chairman)	$7,100	$0	$0
Marc Rush (Director)	$6,650	$0	$0
Mark Tuttle (Director)	$6,650	$0	$0
Gary Rouse (Director)	$6,300	$0	$0
David Friedrich (Director)	$5,600	$0	$0
Trent Will (Secretary)	$4,650	$0	$0

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990

Filed on Aug. 25, 2021

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Fiscal Year Ending Dec.
2019

Revenue

$73,512,821

Expenses

$69,869,310

Net Income

$3,643,511

Net Assets

$105,324,974

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$69,294,625	94.3%
Investment Income	$359,485	0.5%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$30,698	0.0%
Net Inventory Sales	-$55,963
Other Revenue	$3,883,976	5.3%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$1,224,111	1.8%
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$165,969,740
Total Liabilities	$60,644,766
Net Assets	$105,324,974

Club or Co-Op Income
Income From Members	$74,077,480
Income From Other Sources	$720,577

Compensation

Key Employees and Officers	Compensation	Related	Other
Rick Olesen (President/Ceo)	$243,124	$0	$80,376
September Dau (Sr Vp Of Finance)	$186,516	$0	$46,040
Aaron Ruschy (Vp Of Operations & Enginee)	$151,945	$0	$62,687
Tresa Hussong (Vp Of Customer & Corporate)	$146,393	$0	$56,856
Pam Caboth (Vp Of Administrative Servi)	$113,552	$0	$44,972
Doug Dau (Manager Of It)	$109,578	$0	$53,255
Alden Zeitz (Mgr Of Renewable Energy)	$105,658	$0	$43,242
Brian Scott (Field Superintendent)	$105,515	$0	$48,564
Shelly Tredway (Manager Of Accounting)	$104,692	$0	$42,598
Jed Skogerboe (Manager Of Business & Community Development)	$103,547	$0	$29,110
Jerry Beck (Chairman)	$9,100	$0	$0
Bruce Amundson (Director)	$9,000	$0	$0
Mark Tuttle (Director)	$7,200	$0	$0
Trent Will (Secretary)	$7,100	$0	$0
Gary Rouse (Director)	$7,050	$0	$0
Chad Boysen (Director)	$6,900	$0	$0
Daniel Winterhof (Director)	$6,600	$0	$0
Roger Williamson (Director)	$6,600	$0	$0
Neal Heldt (Director)	$6,300	$0	$0
Crystal Pluth (Director)	$6,200	$0	$0
Alan Madden (Treasurer)	$5,600	$0	$0
David Friedrich (Director)	$5,400	$0	$0
Craig Diem (Vice Chairman)	$5,300	$0	$0
Marc Rush (Director)	$3,300	$0	$0

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990

Filed on Aug. 25, 2020

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Fiscal Year Ending Dec.
2018

Revenue

$76,355,354

Expenses

$68,602,435

Net Income

$7,752,919

Net Assets

$100,459,605

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$68,425,153	89.6%
Investment Income	$312,797	0.4%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$47,315	0.1%
Net Inventory Sales	-$339,870
Other Revenue	$7,909,959	10.4%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$1,234,793	1.8%
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$165,950,083
Total Liabilities	$65,490,478
Net Assets	$100,459,605

Club or Co-Op Income
Income From Members	$77,047,138
Income From Other Sources	$936,029

Compensation

Key Employees and Officers	Compensation	Related	Other
Rick Olesen (President/Ceo)	$231,328	$0	$89,468
September Dau (Sr Vp Of Finance)	$181,253	$0	$44,429
Aaron Ruschy (Vp Of Operations & Enginee)	$144,665	$0	$70,719
Tresa Hussong (Vp Of Customer & Corporate)	$139,586	$0	$66,566
Doug Dau (Manager Of It)	$103,771	$0	$61,750
Brian Scott (Field Superintendent)	$103,403	$0	$57,571
Alden Zeitz (Mgr Of Renewable Energy)	$102,095	$0	$48,951
Pam Caboth (Vp Of Administrative Services)	$100,924	$0	$50,405
Jerry Beck (Chairman)	$12,600	$0	$0
Crystal Pluth (Director)	$11,250	$0	$0
Daniel Winterhof (Director)	$9,300	$0	$0
Roger Williamson (Director)	$8,800	$0	$0
Mark Tuttle (Director)	$8,400	$0	$0
Neal Heldt (Director)	$8,100	$0	$0
Gary Rouse (Director)	$8,100	$0	$0
Trent Will (Secretary)	$7,800	$0	$0
Bruce Amundson (Director)	$7,200	$0	$0
Alan Madden (Treasurer)	$6,900	$0	$0
Craig Diem (Vice Chairman)	$5,400	$0	$0
Chad Boysen (Director)	$5,400	$0	$0
David Friedrich (Director)	$5,400	$0	$0
Marc Rush (Director)	$5,400	$0	$0
Paul Benson (Director Part Year)	$5,400	$0	$0

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990

Filed on Sept. 3, 2019

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Fiscal Year Ending Dec.
2017

Revenue

$70,735,322

Expenses

$66,763,243

Net Income

$3,972,079

Net Assets

$91,012,599

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$67,040,533	94.8%
Investment Income	$216,632	0.3%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$25,132	0.0%
Net Inventory Sales	-$122,898
Other Revenue	$3,575,923	5.1%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$610,977	0.9%
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$158,491,807
Total Liabilities	$67,479,208
Net Assets	$91,012,599

Club or Co-Op Income
Income From Members	$71,687,272
Income From Other Sources	$607,640

Compensation

Key Employees and Officers	Compensation	Related	Other
Rick Olesen (President/Ceo)	$224,811	$0	$85,275
September Dau (Sr Vp Of Finance)	$174,497	$0	$42,545
Aaron Ruschy (Vp Of Operations & Enginee)	$140,275	$0	$67,594
Tresa Hussong (Vp Of Customer & Corporate)	$135,067	$0	$64,885
Doug Dau (Manager Of It)	$101,310	$0	$58,034
Alden Zeitz (Mgr Of Renewable Energy)	$101,032	$0	$46,560
Brian Scott (Field Superintendent)	$100,830	$0	$55,453
Jerry Beck (Chairman)	$9,600	$0	$0
Bruce Amundson (Director)	$8,100	$0	$0
Craig Diem (Vice Chairman)	$6,600	$0	$0
Neal Heldt (Director)	$6,600	$0	$0
Paul Benson (Director)	$6,300	$0	$0
Chad Boysen (Director)	$6,000	$0	$0
Mark Tuttle (Director)	$5,700	$0	$0
Alan Madden (Treasurer)	$5,550	$0	$0
Crystal Pluth (Director)	$5,400	$0	$0
Gary Rouse (Director)	$5,400	$0	$0
Trent Will (Secretary)	$5,100	$0	$0
David Friedrich (Director)	$4,500	$0	$0
Daniel Winterhof (Director)	$4,500	$0	$0
Roger Williamson (Director)	$4,500	$0	$0

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990

Filed on Aug. 27, 2018

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Fiscal Year Ending Dec.
2016

Revenue

$71,289,578

Expenses

$64,959,890

Net Income

$6,329,688

Net Assets

$86,648,517

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$65,589,996	92.0%
Investment Income	$175,990	0.2%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	-$14,821
Net Inventory Sales	-$111,122
Other Revenue	$5,649,535	7.9%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$582,576	0.9%
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$153,440,949
Total Liabilities	$66,792,432
Net Assets	$86,648,517

Club or Co-Op Income
Income From Members	$71,899,488
Income From Other Sources	$636,228

Compensation

Key Employees and Officers	Compensation	Related	Other
Rick Olesen (President/Ceo)	$212,728	$0	$76,815
September Dau (Sr Vp Of Finance)	$168,028	$0	$39,205
Aaron Ruschy (Vp Of Operations & Enginee)	$137,530	$0	$61,135
Tresa Hussong (Vp Of Customer & Corporate)	$127,496	$0	$58,538
Jerry Beck (Chairman)	$11,700	$0	$0
Bruce Amundson (Director)	$9,600	$0	$0
Paul Benson (Director)	$9,000	$0	$0
Neal Heldt (Director)	$8,400	$0	$0
Daniel Winterhof (Director)	$6,900	$0	$0
Craig Diem (Vice Chairman)	$6,600	$0	$0
David Friedrich (Director)	$6,300	$0	$0
Crystal Pluth (Director)	$6,300	$0	$0
Alan Madden (Treasurer)	$6,000	$0	$0
Chad Boysen (Director)	$5,700	$0	$0
Trent Will (Secretary)	$5,400	$0	$0
Mark Tuttle (Director)	$5,250	$0	$0
Roger Williamson (Director)	$5,250	$0	$0
Gary Rouse (Director)	$4,800	$0	$0
Peter Hansen (Director)	$1,200	$0	$0
Steven Williams (Director)	$900	$0	$0

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990

Filed on Aug. 1, 2017

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Fiscal Year Ending Dec.
2015

Revenue

$65,605,977

Expenses

$60,671,863

Net Income

$4,934,114

Net Assets

$77,801,886

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$63,042,007	96.1%
Investment Income	$151,470	0.2%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$9,466	0.0%
Net Fundraising	$0
Sales of Assets	$389,474	0.6%
Net Inventory Sales	-$90,986
Other Revenue	$2,104,546	3.2%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$926,752	1.5%
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$148,252,709
Total Liabilities	$70,450,823
Net Assets	$77,801,886

Club or Co-Op Income
Income From Members	$66,036,470
Income From Other Sources	$1,270,530

Compensation

Key Employees and Officers	Compensation	Related	Other
Rick Olesen (President/Ceo)	$200,602	$0	$71,294
September Dau (Sr Vp Of Finance)	$161,365	$0	$36,769
Aaron Ruschy (Vp Of Operations & Enginee)	$128,157	$0	$55,495
Tresa Hussong (Vp Of Customer & Corporate)	$124,323	$0	$56,247
Jerry Beck (Chairman)	$8,675	$0	$0
Trent Will (Secretary)	$7,625	$0	$0
Daniel Winterhof (Director)	$7,450	$0	$0
Paul Benson (Director)	$7,250	$0	$0
Neal Heldt (Director)	$6,950	$0	$0
Chad Boysen (Director)	$6,900	$0	$0
Steven Williams (Director)	$6,750	$0	$0
Crystal Pluth (Director)	$6,500	$0	$0
Alan Madden (Treasurer)	$6,225	$0	$0
Peter Hansen (Director)	$6,050	$0	$0
Gary Rouse (Director)	$5,900	$0	$0
Bruce Amundson (Director)	$5,600	$0	$0
Craig Diem (Vice Chairman)	$5,425	$0	$0
David Friedrich (Director)	$5,200	$0	$0

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990

Filed on July 26, 2016

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

View Filing

Schedules ▼

PDF XML

Audit

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

PDF

Fiscal Year Ending Dec.
2014

Revenue

$68,012,018

Expenses

$62,780,452

Net Income

$5,231,566

Net Assets

$72,353,724

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$65,638,788	96.5%
Investment Income	$138,043	0.2%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$16,925	0.0%
Net Fundraising	$0
Sales of Assets	$7,300	0.0%
Net Inventory Sales	-$83,461
Other Revenue	$2,294,423	3.4%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$909,602	1.4%
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$146,816,451
Total Liabilities	$74,462,727
Net Assets	$72,353,724

Club or Co-Op Income
Income From Members	$68,193,082
Income From Other Sources	$581,603

Compensation

Key Employees and Officers	Compensation	Related	Other
Rick Olesen (President/Ceo)	$188,099	$0	$69,545
September Dau (Sr Vp Of Finance)	$146,257	$0	$62,496
Tresa Hussong (Vp Of Customer & Corporate)	$121,064	$0	$54,976
Aaron Ruschy (Vp Of Operations & Enginee)	$120,855	$0	$53,485
Crystal Pluth (Director)	$9,150	$0	$0
Jerry Beck (Chairman)	$8,500	$0	$0
Peter Hansen (Director)	$6,950	$0	$0
Neal Heldt (Director)	$6,900	$0	$0
Gary Rouse (Director)	$6,900	$0	$0
Steve Williams (Director)	$6,750	$0	$0
Trent Will (Secretary)	$6,500	$0	$0
Alan Madden (Treasurer)	$6,150	$0	$0
Chad Boysen (Director)	$5,450	$0	$0
Craig Diem (Vice Chairman)	$5,400	$0	$0
Paul Benson (Director)	$5,375	$0	$0
Bruce Amundson (Director)	$5,000	$0	$0
Dan Winterhof (Director)	$4,750	$0	$0
Tom Mortenson (Director)	$3,800	$0	$0
L Kirby Range (Director)	$3,250	$0	$0
Vernon Winterhof (Director)	$2,000	$0	$0

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990

Filed on Aug. 10, 2015

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

View Filing

Schedules ▼

PDF XML

Fiscal Year Ending Dec.
2013

Revenue

$66,701,045

Expenses

$61,516,113

Net Income

$5,184,932

Net Assets

$66,722,601

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$64,028,561	96.0%
Investment Income	$127,186	0.2%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$15,487	0.0%
Net Fundraising	$0
Sales of Assets	$54,125	0.1%
Net Inventory Sales	-$116,459
Other Revenue	$2,592,145	3.9%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$862,065	1.4%
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$143,261,846
Total Liabilities	$76,539,245
Net Assets	$66,722,601

Club or Co-Op Income
Income From Members	$66,869,872
Income From Other Sources	$654,526

Compensation

Key Employees and Officers	Compensation	Related	Other
Rick Olesen (President/Ceo)	$161,819	$0	$62,149
September Dau (Sr Vp Of Finance)	$142,958	$0	$58,468
Tresa Hussong (Vp Of Customer & Corporate Relations)	$122,809	$0	$56,627
Aaron Ruschy (Vp Of Operations & Engineering)	$102,732	$0	$50,001
Vernon Winterhof (Vice Chair)	$11,281	$0	$0
Steve Williams (Chair)	$9,475	$0	$0
Trent Will (Secretary)	$8,725	$0	$0
Jim Hultgren (Director)	$8,546	$0	$0
Crystal Pluth (Director)	$7,350	$0	$0
Craig Deim (Director)	$7,050	$0	$0
Chad Boysen (Director)	$6,800	$0	$0
Neal Heldt (Director)	$6,775	$0	$0
Jerry Beck (Director)	$6,300	$0	$0
L Kirby Range (Director)	$5,850	$0	$0
Bruce Amundsom (Director)	$5,550	$0	$0
Tom Mortenson (Director)	$5,450	$0	$0
Gary Rouse (Director)	$5,250	$0	$0
Peter Hansen (Director)	$5,100	$0	$0
Alan Madden (Treasurer)	$5,000	$0	$0

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990

Filed on Aug. 7, 2014

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

View Filing

Schedules ▼

PDF XML

Fiscal Year Ending Dec.
2012

Revenue

$60,667,330

Expenses

$56,006,549

Net Income

$4,660,781

Net Assets

$60,991,745

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$57,881,149	95.4%
Investment Income	$169,381	0.3%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$10,815	0.0%
Net Fundraising	$0
Sales of Assets	$1,486	0.0%
Net Inventory Sales	-$249,897
Other Revenue	$2,854,396	4.7%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$963,121	1.7%
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$136,566,830
Total Liabilities	$75,575,085
Net Assets	$60,991,745

Club or Co-Op Income
Income From Members	$61,941,908
Income From Other Sources	$569,679

990

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

PDF

Fiscal Year Ending Dec.
2011

Revenue

$58,781,676

Expenses

$53,746,039

Net Income

$5,035,637

Net Assets

$56,091,705

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$55,499,851	94.4%
Investment Income	$177,233	0.3%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$20,982	0.0%
Net Fundraising	$0
Sales of Assets	$609,543	1.0%
Net Inventory Sales	-$158,302
Other Revenue	$2,632,369	4.5%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$482,947	0.9%
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$134,452,696
Total Liabilities	$78,360,991
Net Assets	$56,091,705

Club or Co-Op Income
Income From Members	$58,666,778
Income From Other Sources	$1,206,750

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 December 20, 2024

Iowa Lakes Electric Cooperative

Organization summary

Type of Nonprofit

Summary charts: organization finances over time

Revenue $73.8M (2023)

Expenses $67.9M (2023)

Total Assets $179M (2023)

Total Liabilities $54.3M (2023)

Tax Filings and Audits by Year

Fiscal Year Ending Dec. 2023

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending Dec. 2022

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending Dec. 2021

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending Dec. 2020

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending Dec. 2019

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending Dec. 2018

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending Dec. 2017

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending Dec. 2016

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending Dec. 2015

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Audit

Fiscal Year Ending Dec. 2014

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending Dec. 2013

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending Dec. 2012

Extracted Financial Data

Extracted Financial Data from Form 990

Document Links

Revenue

$73.8M (2023)

Expenses

$67.9M (2023)

Total Assets

$179M (2023)

Total Liabilities

$54.3M (2023)

Fiscal Year Ending Dec.
2023

Fiscal Year Ending Dec.
2022

Fiscal Year Ending Dec.
2021

Fiscal Year Ending Dec.
2020

Fiscal Year Ending Dec.
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.
2007

Fiscal Year Ending Dec.
2006

Fiscal Year Ending Dec.
2005

Fiscal Year Ending Dec.
2004