Minnkota Power Cooperative Inc

Grand Forks, ND
Tax-exempt since March 1943
EIN: 45-0166406

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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.

Revenue

$450M (2023)

Expenses

$437M (2023)

Total Assets

$1.18B (2023)

Total Liabilities

$958M (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

$449,704,391

Expenses

$436,669,776

Net Income

$13,034,615

Net Assets

$225,333,538

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$443,190,820	98.6%
Investment Income	$4,160,064	0.9%
Bond Proceeds	$0
Royalties	$1,350,000	0.3%
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$1,003,507	0.2%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$5,150,462	1.2%
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$1,183,715,921
Total Liabilities	$958,382,383
Net Assets	$225,333,538

Club or Co-Op Income
Income From Members	$420,038,588
Income From Other Sources	$23,152,232

Compensation

Key Employees and Officers	Compensation	Related	Other
Robert Mc Lennan (President & Ceo)	$1,042,101	$0	$209,091
Lowell Stave (Vice President And Coo)	$417,183	$0	$86,091
Gerad Paul (General Counsel Vp Of Legal, Compliance & Risk Mgmt)	$361,327	$0	$84,075
Jami Hovet (Vice President Of Administration)	$305,943	$0	$81,086
Kay Schraeder (Vice President And Cfo)	$298,448	$0	$80,090
Todd Sailer (Vice President Of Power Supply)	$291,069	$0	$77,920
Craig Bleth (Vice President Of Project Development)	$287,332	$0	$79,941
Dan Inman (Vice President And Ciso)	$280,871	$0	$70,608
Brendan Kennelly (Vice President Of Power Delivery)	$256,599	$0	$73,548
Andrew Sorbo (Vice President Strategic Initiatives)	$231,184	$0	$67,030
Shannon Mikula (Environmental Manager)	$219,513	$0	$68,495
Stacey Dahl (Vice President Of External Affairs)	$219,152	$0	$67,957
Grant Gunderson (Senior Manager Resource Planning)	$211,514	$0	$65,957
Andrew Freidt (Senior Manager Of Power Production)	$203,520	$0	$51,592
Tim Hagerott (Senior Manager Of Product Development)	$198,159	$0	$56,721
Theresa Brorby (Senior Manager Of Audit & Risk)	$192,356	$0	$64,266
Kalvin Hoff (Board Member)	$19,910	$0	$0
Rick Coe (Board Member)	$19,280	$0	$0
Mark Habedank (Board Chair)	$18,640	$0	$0
Colette Kujava (Board Secretary/Treasurer)	$16,121	$0	$0
Steve Arnesen (Board Member)	$12,840	$0	$0
Mike Wahl (Board Member)	$12,100	$0	$0
Tom Woinarowicz (Board Vice Chair)	$10,950	$0	$0
Anthony Ottem (Board Member)	$10,020	$0	$0
Roger Krostue (Board Member)	$9,640	$0	$0
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990

Filed on April 30, 2024

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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.
2022

Revenue

$451,623,057

Expenses

$432,708,147

Net Income

$18,914,910

Net Assets

$213,597,038

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$447,046,055	99.0%
Investment Income	$1,262,529	0.3%
Bond Proceeds	$0
Royalties	$1,350,000	0.3%
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$1,964,473	0.4%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$4,814,677	1.1%
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$1,158,057,527
Total Liabilities	$944,460,489
Net Assets	$213,597,038

Club or Co-Op Income
Income From Members	$417,724,700
Income From Other Sources	$29,321,355

Compensation

Key Employees and Officers	Compensation	Related	Other
Robert Mc Lennan (President & Ceo)	$986,822	$0	$185,650
Lowell Stave (Vice President And Coo)	$376,329	$0	$78,423
Gerad Paul (General Counsel Vp Of Legal, Compliance & Risk Mgmt)	$346,487	$0	$77,423
Jami Hovet (Vice President Of Administration)	$290,622	$0	$71,739
Kay Schraeder (Vice President And Cfo)	$285,877	$0	$75,121
Craig Bleth (Vice President Of Project Development)	$267,771	$0	$72,586
Dan Inman (Vice President And Ciso)	$267,538	$0	$65,391
Gerry Pfau (Senior Manager Of Project Development)	$261,782	$0	$42,894
Todd Sailer (Vice President Of Power Supply)	$228,758	$0	$64,743
Andrew Sorbo (Vice President Strategic Initiatives)	$206,250	$0	$60,178
Grant Gunderson (Senior Manager Power Delivery Operations)	$198,065	$0	$61,400
Brendan Kennelly (Vice President Of Power Delivery)	$192,776	$0	$61,392
Stacey Dahl (Senior Manager Of External Affairs)	$192,282	$0	$61,129
Theresa Brorby (Senior Manager Of Internal Audit And Risk)	$185,848	$0	$59,371
Andrew Freidt (Senior Manager Or Resource P Lanning)	$185,740	$0	$46,898
Tim Hagerott (Senior Manager Of Power Production)	$183,066	$0	$57,101
Rick Coe (Board Member)	$22,280	$0	$0
Colette Kujava (Board Secretary/Treasurer)	$17,914	$0	$0
Mark Habedank (Board Vice Chair)	$16,060	$0	$0
Greg Spaulding (Board Member)	$15,600	$0	$0
Steve Arnesen (Board Member)	$14,910	$0	$0
Mike Wahl (Board Member)	$14,550	$0	$0
Anthony Ottem (Board Member)	$14,480	$0	$0
Kalvin Hoff (Board Member)	$13,160	$0	$0
Roger Krostue (Board Member)	$12,160	$0	$0
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990

Filed on May 4, 2023

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Fiscal Year Ending Dec.
2021

Revenue

$406,680,982

Expenses

$385,173,456

Net Income

$21,507,526

Net Assets

$190,594,292

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$402,032,396	98.9%
Investment Income	$1,563,539	0.4%
Bond Proceeds	$0
Royalties	$1,350,000	0.3%
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$1,735,047	0.4%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$0
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$1,140,468,068
Total Liabilities	$949,873,776
Net Assets	$190,594,292

Club or Co-Op Income
Income From Members	$386,814,841
Income From Other Sources	$19,522,114

Compensation

Key Employees and Officers	Compensation	Related	Other
Robert Mc Lennan (President & Ceo)	$953,278	$0	$59,096
Lowell Stave (Vice President And Coo)	$376,329	$0	$73,883
Gerad Paul (General Counsel Vp Of Legal, Compliance & Risk Mgmt)	$333,729	$0	$72,883
Jami Hovet (Vice President Of Administration)	$285,628	$0	$45,539
Kay Schraeder (Vice President And Cfo)	$280,789	$0	$71,283
Dan Inman (Vice President And Ciso)	$259,217	$0	$60,170
Gerry Pfau (Senior Manager Of Project Development)	$243,755	$0	$65,310
Craig Bleth (Senior Manager Of Power Production)	$215,076	$0	$62,793
Todd Sailer (Sr Manager Of Power Supply & Resource Planning)	$200,439	$0	$59,371
Grant Gunderson (Senior Manager Power Delivery Operations)	$191,665	$0	$58,151
Brendan Kennelly (Sr Manager Power Delivery Engineering)	$186,371	$0	$58,156
Theresa Brorby (Senior Manager Of Internal Audit And Risk)	$179,282	$0	$56,150
Rick Coe (Board Member)	$12,720	$0	$0
Donald Skjervheim (Board Member Former)	$12,250	$0	$0
Mark Habedank (Board Vice Chairman)	$11,560	$0	$0
Colette Kujava (Board Secretary/Treasurer)	$10,360	$0	$0
Marcy Svenningsen (Board Member)	$10,220	$0	$0
Les Windjue (Board Chairman)	$9,900	$0	$0
Greg Spaulding (Board Member)	$9,600	$0	$0
Steve Arnesen (Board Member)	$8,340	$0	$0
Roger Krostue (Board Member)	$8,150	$0	$0
Mike Wahl (Board Member)	$8,050	$0	$0
Tom Woinarowicz (Board Member)	$7,920	$0	$0
Anthony Ottem (Board Member)	$540	$0	$0

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990

Filed on April 29, 2022

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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

$395,276,944

Expenses

$387,606,652

Net Income

$7,670,292

Net Assets

$167,592,067

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$390,338,364	98.8%
Investment Income	$1,657,057	0.4%
Bond Proceeds	$0
Royalties	$1,350,000	0.3%
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$1,931,523	0.5%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$3,968,526	1.0%
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$1,139,298,514
Total Liabilities	$971,706,447
Net Assets	$167,592,067

Club or Co-Op Income
Income From Members	$378,110,272
Income From Other Sources	$13,073,216

Compensation

Key Employees and Officers	Compensation	Related	Other
Robert Mc Lennan (President And Ceo)	$836,554	$0	$66,696
Karen Thingelstad (Vice President And Cfo)	$411,099	$0	$72,086
Lowell Stave (Vice President Energy Supply And Coo)	$376,068	$0	$72,796
Gerad Paul (General Counsel And Vice President For Legal Affairs)	$327,261	$0	$71,796
Dan Inman (Vice President And Ciso)	$259,217	$0	$58,717
Jami Hovet (Vice President Of Administration)	$252,541	$0	$67,583
Gerry Pfau (Senior Manager Of Project Development)	$243,545	$0	$64,340
Craig Bleth (Senior Manager Of Power Production)	$222,725	$0	$61,551
Todd Sailer (Senior Manager Power Supply And Resource Planning)	$200,518	$0	$58,345
Brendan Kennelly (Senior Manager Power Delivery Engineering)	$194,692	$0	$57,156
Grant Gunderson (Senior Manager Power Delivery Operations)	$192,533	$0	$57,163
Theresa Brorby (Senior Manager Internal Audit And Risk)	$179,783	$0	$55,195
Kay Schraeder (Vice President And Cfo)	$156,360	$0	$48,727
Donald Skjervheim (Board Member)	$15,100	$0	$0
Les Windjue (Board Chairman)	$12,540	$0	$0
Steve Arnesen (Vice Chairman)	$11,030	$0	$0
Mark Habedank (Board Member)	$11,020	$0	$0
Colette Kujava (Board Secretary/Treasurer)	$10,700	$0	$0
Rick Coe (Board Member)	$10,380	$0	$0
Roger Krostue (Board Member)	$8,790	$0	$0
Collin Jensen (Board Member)	$6,150	$0	$0
Marcy Svenningsen (Board Member)	$6,120	$0	$0
Tom Woinarowicz (Board Member)	$5,940	$0	$0
Sid Berg (Board Member)	$5,850	$0	$0
Mike Wahl (Board Member)	$4,350	$0	$0
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990

Filed on May 3, 2021

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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

$402,196,354

Expenses

$390,482,354

Net Income

$11,714,000

Net Assets

$156,767,393

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$393,471,100	97.8%
Investment Income	$7,373,520	1.8%
Bond Proceeds	$0
Royalties	$1,351,734	0.3%
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$3,245,428	0.8%
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$1,124,833,308
Total Liabilities	$968,065,915
Net Assets	$156,767,393

Club or Co-Op Income
Income From Members	$380,961,942
Income From Other Sources	$21,234,412

Compensation

Key Employees and Officers	Compensation	Related	Other
Robert Mc Lennan (President And Ceo)	$759,533	$0	$69,825
Lowell Stave (Vice President Energy Supply And Coo)	$344,275	$0	$70,825
Karen Thingelstad (Vice President And Cfo)	$313,197	$0	$70,825
Gerad Paul (General Counsel And Vice President For Legal Affairs)	$301,692	$0	$69,825
Dan Inman (Vice President And Ciso)	$238,053	$0	$56,524
Gerry Pfau (Senior Manager Of Project Development)	$224,349	$0	$61,916
Craig Bleth (Senior Manager Of Power Production)	$203,336	$0	$57,300
Todd Sailer (Senior Manager Power Supply And Resource Planning)	$194,177	$0	$56,089
Brendan Kennelly (Senior Manager Power Delivery Engineering)	$181,073	$0	$54,940
Grant Gunderson (Senior Manager Power Delivery Operations)	$179,715	$0	$54,947
Theresa Brorby (Senior Manager Internal Audit And Risk)	$170,518	$0	$52,614
Donald Skjervheim (Board Member)	$15,450	$0	$0
Collin Jensen (Board Chairman)	$15,200	$0	$0
Rick Coe (Board Member)	$14,720	$0	$0
Sid Berg (Board Member)	$13,550	$0	$0
Les Windjue (Vice Chairman)	$13,480	$0	$0
Steve Arnesen (Board Member)	$12,840	$0	$0
Colette Kujava (Board Secretary/Treasurer)	$12,300	$0	$0
Jeffrey Folland (Board Member)	$11,900	$0	$0
Roger Krostue (Board Member)	$10,130	$0	$0
Leroy Riewer (Board Member)	$7,940	$0	$0
Mark Habedank (Board Member)	$5,900	$0	$0
Russell Okeson (Board Member)	$2,100	$0	$0

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990

Filed on June 17, 2020

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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.
2018

Revenue

$414,061,515

Expenses

$403,962,515

Net Income

$10,099,000

Net Assets

$150,196,807

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$406,396,814	98.1%
Investment Income	$9,534,487	2.3%
Bond Proceeds	$0
Royalties	$1,432,408	0.3%
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	-$3,302,194
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$3,515,073	0.9%
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$1,060,797,950
Total Liabilities	$910,601,143
Net Assets	$150,196,807

Club or Co-Op Income
Income From Members	$394,155,404
Income From Other Sources	$19,906,111

Compensation

Key Employees and Officers	Compensation	Related	Other
Robert Mc Lennan (President And Ceo)	$713,675	$0	$66,300
Lowell Stave (Vice President Energy Supply And Coo)	$348,282	$0	$67,300
Gerad Paul (General Counsel And Vice President For Legal Affairs)	$290,766	$0	$66,300
Karen Thingelstad (Vice President And Cfo)	$288,539	$0	$67,300
Timothy Sanger (Database Administrator)	$271,197	$0	$34,155
Craig Rustad (Accounting Manager)	$269,683	$0	$33,795
Dan Inman (Vice President And Ciso)	$227,774	$0	$53,289
Gerry Pfau (Senior Manager Of Project Development)	$220,680	$0	$59,395
Dale Morseth (Line Worker)	$207,508	$0	$24,686
Todd Sailer (Senior Manager Power Supply And Resource Planning)	$189,411	$0	$53,445
Brendan Kennelly (Senior Manager Power Delivery Engineering)	$179,869	$0	$52,049
Craig Bleth (Senior Manager Of Power Production)	$169,649	$0	$50,323
Collin Jensen (Board Chairman)	$16,700	$0	$0
Donald Skjervheim (Board Member)	$15,600	$0	$0
Rick Coe (Board Member)	$14,220	$0	$0
Sid Berg (Board Member)	$13,050	$0	$0
Roger Krostue (Board Member)	$12,160	$0	$0
Jeffrey Folland (Board Member)	$12,100	$0	$0
Russell Okeson (Board Vice Chairman)	$12,050	$0	$0
Les Windjue (Director)	$11,980	$0	$0
Steve Arnesen (Board Member)	$10,840	$0	$0
Colette Kujava (Board Secretary/Treasurer)	$9,860	$0	$0
Leroy Riewer (Board Member)	$9,480	$0	$0

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990

Filed on April 29, 2019

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Fiscal Year Ending Dec.
2017

Revenue

$395,642,680

Expenses

$385,992,680

Net Income

$9,650,000

Net Assets

$139,893,680

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$384,894,716	97.3%
Investment Income	$9,302,594	2.4%
Bond Proceeds	$0
Royalties	$1,445,370	0.4%
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$2,982,888	0.8%
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$1,039,451,568
Total Liabilities	$899,557,888
Net Assets	$139,893,680

Club or Co-Op Income
Income From Members	$375,499,608
Income From Other Sources	$20,143,072

Compensation

Key Employees and Officers	Compensation	Related	Other
Robert Mc Lennan (President And Ceo)	$668,348	$0	$65,165
Lowell Stave (Vice President Energy Supply And Coo)	$319,650	$0	$66,165
Gerad Paul (General Counsel And Vice President For Legal Affairs)	$280,086	$0	$65,165
Karen Thingelstad (Vice President And Cfo)	$276,161	$0	$66,165
Dan Inman (Vice President And Ciso)	$217,576	$0	$51,242
Gerry Pfau (Senior Manager Of Power Production)	$214,540	$0	$58,238
Todd Sailer (Senior Manager Power Supply And Resource Planning)	$183,303	$0	$52,248
Brendan Kennelly (Senior Manager Power Delivery Operations)	$172,495	$0	$50,606
Grant Gunderson (Senior Manager Power Delivery Engineering)	$168,872	$0	$50,021
Tim Bartel (Power Delivery Business Administrator)	$166,851	$0	$49,512
Craig Bleth (Environmental Manager)	$164,206	$0	$49,208
Collin Jensen (Board Chairman)	$17,750	$0	$0
Rick Coe (Board Member)	$15,280	$0	$0
Jeffrey Folland (Board Secretary/Treasurer)	$14,520	$0	$0
Donald Skjervheim (Board Member)	$14,100	$0	$0
Steve Arnesen (Board Member)	$13,770	$0	$0
Russell Okeson (Board Vice Chairman)	$13,600	$0	$0
Roger Krostue (Board Member)	$13,180	$0	$0
Colette Kujava (Board Member)	$12,420	$0	$0
Sid Berg (Board Member)	$11,600	$0	$0
Leroy Riewer (Board Member)	$10,520	$0	$0
Lee Mc Laughlin (Board Member)	$7,120	$0	$0
Les Windjue (Director)	$6,940	$0	$0

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990

Filed on May 1, 2018

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Fiscal Year Ending Dec.
2016

Revenue

$378,425,640

Expenses

$369,195,640

Net Income

$9,230,000

Net Assets

$130,156,542

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$367,355,133	97.1%
Investment Income	$9,711,795	2.6%
Bond Proceeds	$0
Royalties	$1,358,712	0.4%
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$3,274,964	0.9%
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$1,017,654,497
Total Liabilities	$887,497,955
Net Assets	$130,156,542

Club or Co-Op Income
Income From Members	$358,345,353
Income From Other Sources	$20,080,287

Compensation

Key Employees and Officers	Compensation	Related	Other
Robert Mc Lennan (President And Ceo)	$635,485	$0	$62,476
Michael Hennes (Vice President Transmission)	$294,232	$0	$59,806
John Graves (Environmental Policy Advisor)	$285,108	$0	$47,333
Lowell Stave (Vice President Energy Supply And Member Relations)	$278,807	$0	$63,476
Gerad Paul (General Counsel And Vice President For Legal Affairs)	$267,404	$0	$61,976
Karen Thingelstad (Vice President And Cfo)	$253,743	$0	$62,891
Dale Toman (Plant Operations And Maintenance Manager)	$233,210	$0	$47,386
Gerry Pfau (Senior Manager Of Power Production)	$202,590	$0	$53,346
Dan Inman (Senior Manager Of Safety And Security/Ciso)	$182,607	$0	$45,433
Todd Sailer (Senior Manager For Energy Supply)	$169,712	$0	$49,705
Tim Bartel (Senior Manager Transmission Planning)	$163,786	$0	$47,427
Brendan Kennelly (Senior Manager Electrical Operations)	$158,450	$0	$47,984
Lee Mc Laughlin (Board Member)	$20,310	$0	$0
Collin Jensen (Board Chairman)	$17,730	$0	$0
Jeffrey Folland (Board Secretary/Treasurer)	$13,980	$0	$0
Sid Berg (Board Member)	$13,300	$0	$0
Leroy Riewer (Board Member)	$13,220	$0	$0
Steve Arnesen (Board Member)	$12,970	$0	$0
Roger Krostue (Board Member)	$12,870	$0	$0
Russell Okeson (Board Vice Chairman)	$12,640	$0	$0
Donald Skjervheim (Board Member)	$11,330	$0	$0
Rick Coe (Board Member)	$10,040	$0	$0
Colette Kujava (Board Member)	$9,060	$0	$0
Terry Diffley (Board Member)	$2,380	$0	$0

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990

Filed on May 5, 2017

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

View Filing

Schedules ▼

PDF XML

Fiscal Year Ending Dec.
2015

Revenue

$378,374,239

Expenses

$370,874,239

Net Income

$7,500,000

Net Assets

$122,580,872

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$368,421,666	97.4%
Investment Income	$8,574,799	2.3%
Bond Proceeds	$0
Royalties	$1,377,774	0.4%
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$3,326,950	0.9%
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$986,053,407
Total Liabilities	$863,472,535
Net Assets	$122,580,872

Club or Co-Op Income
Income From Members	$359,677,095
Income From Other Sources	$18,697,144

Compensation

Key Employees and Officers	Compensation	Related	Other
Robert Mc Lennan (President And Ceo)	$599,222	$0	$62,611
Al Tschepen (Vp Planning And System Operation)	$342,886	$0	$12,094
Lowell Stave (Vice President Member Services)	$275,004	$0	$62,611
Gerad Paul (General Counsel And Vice President For Legal Affairs)	$256,437	$0	$60,411
David Sogard (General Counsel)	$251,689	$0	$59,444
Karen Thingelstad (Vice President And Cfo)	$242,611	$0	$60,228
Michael Hennes (Vice President Transmission)	$242,002	$0	$59,389
Gerry Pfau (Senior Manager Of Power Production)	$194,042	$0	$51,089
Todd Sailer (Senior Manager For Energy Supply)	$161,942	$0	$46,914
Tim Bartel (Senior Manager Transmission Planning)	$159,489	$0	$44,988
Dan Inman (Senior Manager Safety & Security/Ciso)	$154,132	$0	$44,766
Brendan Kennelly (Electrical Operations Manager)	$154,038	$0	$45,741
Grant Gunderson (Senior Manager Transmission Engineering)	$153,226	$0	$45,547
Collin Jensen (Board Chairman)	$18,400	$0	$0
Lee Mc Laughlin (Board Member)	$17,920	$0	$0
Jeffrey Folland (Board Secretary/Treasurer)	$14,760	$0	$0
Russell Okeson (Board Vice Chairman)	$13,580	$0	$0
Sid Berg (Board Member)	$13,200	$0	$0
Roger Krostue (Board Member)	$11,760	$0	$0
Steve Arnesen (Board Member)	$10,940	$0	$0
Leroy Riewer (Board Member)	$10,920	$0	$0
Terry Diffley (Board Member)	$10,380	$0	$0
Colette Kujava (Board Member)	$9,160	$0	$0
Donald Skjervheim (Board Member)	$8,350	$0	$0
Kelly Lundeen (Board Member)	$860	$0	$0

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990

Filed on May 5, 2016

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

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Schedules ▼

PDF XML

Fiscal Year Ending Dec.
2014

Revenue

$347,340,379

Expenses

$340,066,549

Net Income

$7,273,830

Net Assets

$115,587,837

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$340,066,549	97.9%
Investment Income	$5,919,474	1.7%
Bond Proceeds	$0
Royalties	$1,354,356	0.4%
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$3,837,894	1.1%
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$950,553,711
Total Liabilities	$834,965,874
Net Assets	$115,587,837

Club or Co-Op Income
Income From Members	$319,544,271
Income From Other Sources	$27,796,108

Compensation

Key Employees and Officers	Compensation	Related	Other
Robert Mc Lennan (President And Ceo)	$588,617	$0	$63,662
Gary Spielman (Vice President And Cfo)	$326,428	$0	$57,162
Wally Lang (Vp Transmission)	$269,627	$0	$57,162
Lowell Stave (Vice President Member Services)	$253,122	$0	$64,230
David Sogard (General Counsel)	$249,668	$0	$61,933
Al Tschepen (Vp Planning And System Operation)	$245,654	$0	$63,258
Gerad Paul (General Counsel And Vice President For Legal Affairs)	$226,264	$0	$58,319
Michael Hennes (Vice President Transmission)	$216,733	$0	$58,867
Luther Kvernen (Vp Generation)	$207,946	$0	$49,057
Karen Thingelstad (Vice President And Cfo)	$200,463	$0	$56,290
Gerry Pfau (Senior Manager Of Power Production)	$180,097	$0	$51,677
Tim Bartel (Senior Manager Transmission Planning)	$154,272	$0	$46,878
Todd Sailer (Senior Manager For Energy Supply)	$153,334	$0	$48,976
Grant Gunderson (Senior Manager Transmission Engineering)	$148,793	$0	$47,183
Brendan Kennelly (Electrical Operations Manager)	$145,098	$0	$47,690
John Graves (Environmental Manager)	$142,958	$0	$45,342
Lee Mc Laughlin (Board Member)	$16,430	$0	$0
Jeffrey Folland (Board Secretary/Treasurer)	$14,680	$0	$0
Collin Jensen (Board Chairman)	$14,300	$0	$0
Russell Okeson (Board Vice Chairman)	$12,330	$0	$0
Sid Berg (Board Member)	$11,870	$0	$0
Terry Diffley (Board Member)	$11,580	$0	$0
Roger Krostue (Board Member)	$10,570	$0	$0
Leroy Riewer (Board Member)	$10,520	$0	$0
Steve Arnesen (Board Member)	$9,310	$0	$0
See filing for compensation of 2 other people →

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990

Filed on May 5, 2015

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

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Schedules ▼

PDF XML

Fiscal Year Ending Dec.
2013

Revenue

$324,562,877

Expenses

$317,761,754

Net Income

$6,801,123

Net Assets

$108,853,198

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$317,761,754	97.9%
Investment Income	$5,451,123	1.7%
Bond Proceeds	$0
Royalties	$1,350,000	0.4%
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$3,223,528	1.0%
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$909,008,837
Total Liabilities	$800,155,639
Net Assets	$108,853,198

Club or Co-Op Income
Income From Members	$309,231,496
Income From Other Sources	$15,331,381

Compensation

Key Employees and Officers	Compensation	Related	Other
Robert Mc Lennan (President And Ceo)	$446,594	$0	$57,742
Luther Kvernen (Vp Generation)	$240,033	$0	$55,557
David Sogard (General Counsel)	$239,429	$0	$54,305
Al Tschepen (Vp Planning And System Operation)	$238,827	$0	$55,367
Wally Lang (Vp Transmission)	$237,371	$0	$55,272
Lowell Stave (Vice President Member Services)	$232,859	$0	$46,029
Gary Spielman (Vice President & Cfo)	$232,762	$0	$54,412
Gerad Paul (Vice President Legal Affairs & Regulatory Compliance)	$196,761	$0	$47,120
Michael Hennes (Senior Manager Transmission Operations)	$172,628	$0	$44,491
Paul Trosen (Heavy Crew Foreman)	$157,961	$0	$26,927
Gerry Pfau (Plant Manager)	$153,281	$0	$41,020
Tim Bartel (Senior Manager Transmission Planning)	$142,900	$0	$38,705
Paul Koedam (Maintenance Supervisor)	$142,897	$0	$32,614
Karen Thingelstad (Senior Manager Of Finance)	$141,006	$0	$40,156
Todd Sailer (Energy Supply Manager)	$138,479	$0	$39,793
Collin Jensen (Board Chairman)	$13,500	$0	$0
Lee Mc Laughlin (Board Member)	$13,130	$0	$0
Jeffrey Folland (Board Secretary/Treasurer)	$11,400	$0	$0
Steve Arnesen (Board Member)	$9,170	$0	$0
Russell Okeson (Board Vice Chairman)	$8,700	$0	$0
Donald Skjervheim (Board Member)	$8,550	$0	$0
Terry Diffley (Board Member)	$8,380	$0	$0
Sid Berg (Board Member)	$8,050	$0	$0
Kelly Lundeen (Board Member)	$6,390	$0	$0
Robert Huether (Board Member)	$6,180	$0	$0
See filing for compensation of 4 other people →

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990

Filed on April 29, 2014

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

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Schedules ▼

PDF XML

Fiscal Year Ending Dec.
2012

Revenue

$293,491,917

Expenses

$288,545,049

Net Income

$4,946,868

Net Assets

$100,511,643

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$288,545,049	98.3%
Investment Income	$3,589,049	1.2%
Bond Proceeds	$0
Royalties	$1,357,819	0.5%
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$2,613,909	0.9%
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$728,399,349
Total Liabilities	$627,887,706
Net Assets	$100,511,643

Club or Co-Op Income
Income From Members	$273,267,849
Income From Other Sources	$20,224,068

990

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

PDF

Fiscal Year Ending Dec.
2011

Revenue

$301,170,235

Expenses

$294,450,984

Net Income

$6,719,251

Net Assets

$93,464,180

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$297,483,659	98.8%
Investment Income	$2,285,779	0.8%
Bond Proceeds	$0
Royalties	$1,381,947	0.5%
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$18,850	0.0%
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$2,546,923	0.9%
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$611,883,344
Total Liabilities	$518,419,164
Net Assets	$93,464,180

Club or Co-Op Income
Income From Members	$289,700,516
Income From Other Sources	$11,469,719

990

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

PDF

PDF (2 of 2)

Fiscal Year Ending Dec.
2004

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

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.

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 October 30, 2024

Minnkota Power Cooperative Inc

Organization summary

Type of Nonprofit

Summary charts: organization finances over time

Revenue $450M (2023)

Expenses $437M (2023)

Total Assets $1.18B (2023)

Total Liabilities $958M (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

Audits

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

Audits

Fiscal Year Ending Dec. 2020

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Audits

Fiscal Year Ending Dec. 2019

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Audits

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

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

Revenue

$450M (2023)

Expenses

$437M (2023)

Total Assets

$1.18B (2023)

Total Liabilities

$958M (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