Nodak Electric Cooperative Inc

Grand Forks, ND
Tax-exempt since Nov. 1942
EIN: 45-0172533

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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

$138M (2023)

Expenses

$135M (2023)

Total Assets

$171M (2023)

Total Liabilities

$100M (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

Revenue

$137,633,929

Expenses

$135,291,143

Net Income

$2,342,786

Net Assets

$70,898,181

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$134,448,412	97.7%
Investment Income	$1,067,287	0.8%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$71,794	0.1%
Other Revenue	$2,046,436	1.5%

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

Assets/Debt
Total Assets	$171,041,522
Total Liabilities	$100,143,341
Net Assets	$70,898,181

Club or Co-Op Income
Income From Members	$134,448,414
Income From Other Sources	$3,185,207

Compensation

Key Employees and Officers	Compensation	Related	Other
Mylo Einarson (President/Ceo)	$301,859	$0	$78,766
Tom Edwards (Accounting And Finance Manager)	$155,298	$0	$72,960
Dan Schaefer (Line Superintendant)	$153,633	$0	$60,504
Blaine Rekken (Customer And Energy Services Manager)	$144,555	$0	$70,456
Cole Johnson (Engineering Manager)	$119,866	$0	$42,527
Steve Breidenbach (Engineering Manager)	$119,289	$0	$51,290
David Brag (Secretary Treasurer)	$17,850	$0	$0
Luther Meberg (Chairman)	$17,550	$0	$0
Pete Naastad (Director)	$15,900	$0	$0
Steve Smaaladen (Director)	$14,100	$0	$0
Cheryl Osowski (Director)	$13,950	$0	$0
David Kent (Director)	$13,050	$0	$0
Ryan Benson (Director)	$12,750	$0	$0
Les Windjue (Vice Chairman)	$11,700	$0	$0
David Hagert (Director)	$11,400	$0	$0

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990

Filed on May 1, 2024

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

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XML

Fiscal Year Ending Dec.
2022

Revenue

$144,951,964

Expenses

$141,889,868

Net Income

$3,062,096

Net Assets

$68,329,179

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$142,542,213	98.3%
Investment Income	$232,065	0.2%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$31,335	0.0%
Other Revenue	$2,146,351	1.5%

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

Assets/Debt
Total Assets	$167,870,496
Total Liabilities	$99,541,317
Net Assets	$68,329,179

Club or Co-Op Income
Income From Members	$142,542,212
Income From Other Sources	$2,371,787

Compensation

Key Employees and Officers	Compensation	Related	Other
Mylo Einarson (President/Ceo)	$289,228	$0	$72,463
Steve Breidenbach (Engineering Manager)	$175,777	$0	$65,341
Dan Schaefer (Line Superintendant)	$147,669	$0	$57,013
Tom Edwards (Accounting And Finance Manager)	$146,826	$0	$67,366
Blaine Rekken (Customer And Energy Services Manager)	$140,095	$0	$66,284
David Brag (Secretary Treasurer)	$19,350	$0	$0
Luther Meberg (Director)	$18,300	$0	$0
David Hagert (Director)	$15,900	$0	$0
Steve Smaaladen (Chairman)	$14,250	$0	$0
Cheryl Osowski (Director)	$14,250	$0	$0
Pete Naastad (Director)	$14,150	$0	$0
Ryan Benson (Director)	$14,100	$0	$0
Les Windjue (Director)	$12,600	$0	$0
David Kent (Vice Chairman)	$12,000	$0	$0

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990

Filed on May 9, 2023

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

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Schedules ▼

PDF XML

Fiscal Year Ending Dec.
2021

Revenue

$119,843,322

Expenses

$111,750,756

Net Income

$8,092,566

Net Assets

$65,045,735

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$1,518,414	1.3%
Program Services	$113,757,498	94.9%
Investment Income	$75,800	0.1%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$9,887	0.0%
Other Revenue	$4,481,723	3.7%

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

Assets/Debt
Total Assets	$162,149,817
Total Liabilities	$97,104,082
Net Assets	$65,045,735

Club or Co-Op Income
Income From Members	$113,757,498
Income From Other Sources	$6,085,824

Compensation

Key Employees and Officers	Compensation	Related	Other
Mylo Einarson (President/Ceo)	$272,680	$0	$64,480
Steve Breidenbach (Engineering Manager)	$169,551	$0	$60,735
Dan Schaefer (Line Superintendant)	$145,766	$0	$53,144
Tom Edwards (Accounting And Finance Manager)	$136,755	$0	$61,849
Blaine Rekken (Customer And Energy Services Manager)	$135,801	$0	$61,986
Luther Meberg (Director)	$17,700	$0	$0
David Brag (Secretary Treasurer)	$16,350	$0	$0
Steve Smaaladen (Chairman)	$13,350	$0	$0
David Kent (Vice Chairman)	$13,200	$0	$0
Cheryl Osowski (Director)	$13,200	$0	$0
Pete Naastad (Director)	$12,900	$0	$0
David Hagert (Director)	$12,550	$0	$0
Les Windjue (Director)	$11,700	$0	$0
Ryan Benson (Director)	$8,900	$0	$0
Paul Sigurdson (Director)	$4,300	$0	$0

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990

Filed on April 26, 2022

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

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Schedules ▼

XML

Fiscal Year Ending Dec.
2020

Revenue

$104,223,078

Expenses

$101,294,173

Net Income

$2,928,905

Net Assets

$56,753,161

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$102,119,329	98.0%
Investment Income	$226,854	0.2%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$18,474	0.0%
Other Revenue	$1,858,421	1.8%

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

Assets/Debt
Total Assets	$144,864,960
Total Liabilities	$88,111,799
Net Assets	$56,753,161

Club or Co-Op Income
Income From Members	$102,119,330
Income From Other Sources	$440,568

Compensation

Key Employees and Officers	Compensation	Related	Other
Mylo Einarson (President/Ceo)	$263,717	$0	$57,653
Steve Breidenbach (Engineering Manager)	$160,820	$0	$63,121
Dan Schaefer (Line Superintendant)	$137,425	$0	$49,856
Tom Edwards (Accounting And Finance Manager)	$135,948	$0	$58,238
Blaine Rekken (Customer And Energy Services Manager)	$132,506	$0	$58,467
Luther Meberg (Director)	$16,800	$0	$0
David Brag (Secretary Treasurer)	$15,300	$0	$0
Steve Smaaladen (Chairman)	$14,769	$0	$0
David Hagert (Director)	$13,500	$0	$0
David Kent (Vice Chairman)	$13,450	$0	$0
Cheryl Osowski (Director)	$13,350	$0	$0
Paul Sigurdson (Director)	$13,200	$0	$0
Pete Naastad (Director)	$13,200	$0	$0
Les Windjue (Director)	$12,300	$0	$0

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990

Filed on March 4, 2021

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

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Schedules ▼

XML

Fiscal Year Ending Dec.
2019

Revenue

$106,291,763

Expenses

$104,981,269

Net Income

$1,310,494

Net Assets

$53,650,575

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$105,719,568	99.5%
Investment Income	$419,082	0.4%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	-$21,434
Other Revenue	$174,547	0.2%

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

Assets/Debt
Total Assets	$135,198,287
Total Liabilities	$81,547,712
Net Assets	$53,650,575

Club or Co-Op Income
Income From Members	$0
Income From Other Sources	$0

990

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

PDF

PDF (2 of 2)

Fiscal Year Ending Dec.
2018

Revenue

Expenses

Net Income

Net Assets

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$0
Investment Income	$0
Bond Proceeds	$0
Royalties	$0
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	$0
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$0
Total Liabilities	$0
Net Assets	$0

Club or Co-Op Income
Income From Members	$0
Income From Other Sources	$0

990

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

PDF

Fiscal Year Ending Dec.
2017

Revenue

$103,817,758

Expenses

$102,590,523

Net Income

$1,227,235

Net Assets

$50,249,709

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$103,044,861	99.3%
Investment Income	$517,865	0.5%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	-$4,401
Other Revenue	$259,433	0.2%

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

Assets/Debt
Total Assets	$127,677,255
Total Liabilities	$77,427,546
Net Assets	$50,249,709

Club or Co-Op Income
Income From Members	$103,817,758
Income From Other Sources	$0

990

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

PDF

Fiscal Year Ending Dec.
2016

Revenue

$96,370,248

Expenses

$95,556,886

Net Income

$813,362

Net Assets

$48,913,706

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$95,581,108	99.2%
Investment Income	$484,371	0.5%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	-$12,115
Other Revenue	$316,884	0.3%

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

Assets/Debt
Total Assets	$126,568,532
Total Liabilities	$77,654,826
Net Assets	$48,913,706

Club or Co-Op Income
Income From Members	$0
Income From Other Sources	$0

990

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

PDF

Fiscal Year Ending Dec.
2015

Revenue

$95,943,079

Expenses

$93,086,185

Net Income

$2,856,894

Net Assets

$49,704,708

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$95,277,243	99.3%
Investment Income	$474,643	0.5%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	-$10,116
Other Revenue	$201,309	0.2%

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

Assets/Debt
Total Assets	$120,706,242
Total Liabilities	$71,001,534
Net Assets	$49,704,708

Club or Co-Op Income
Income From Members	$0
Income From Other Sources	$0

990

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

PDF

Fiscal Year Ending Dec.
2014

Revenue

$94,355,363

Expenses

$92,590,237

Net Income

$1,765,126

Net Assets

$47,566,099

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$93,698,697	99.3%
Investment Income	$324,748	0.3%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$3,729	0.0%
Other Revenue	$328,189	0.3%

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

Assets/Debt
Total Assets	$118,690,038
Total Liabilities	$71,123,939
Net Assets	$47,566,099

Club or Co-Op Income
Income From Members	$93,698,697
Income From Other Sources	$656,666

990

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

PDF

Fiscal Year Ending Dec.
2013

Revenue

$92,526,842

Expenses

$90,208,336

Net Income

$2,318,506

Net Assets

$45,800,973

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$91,865,571	99.3%
Investment Income	$258,104	0.3%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$1,993	0.0%
Other Revenue	$401,174	0.4%

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

Assets/Debt
Total Assets	$117,801,382
Total Liabilities	$72,000,409
Net Assets	$45,800,973

Club or Co-Op Income
Income From Members	$0
Income From Other Sources	$0

990

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

PDF

Fiscal Year Ending Dec.
2012

Revenue

$84,917,717

Expenses

$82,361,715

Net Income

$2,556,002

Net Assets

$43,574,781

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$84,069,756	99.0%
Investment Income	$7,835	0.0%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	-$9,018
Other Revenue	$849,144	1.0%

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

Assets/Debt
Total Assets	$109,651,569
Total Liabilities	$66,076,788
Net Assets	$43,574,781

Club or Co-Op Income
Income From Members	$84,069,756
Income From Other Sources	$847,961

990

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

PDF

Fiscal Year Ending Dec.
2011

Revenue

$77,289,390

Expenses

$77,577,500

Net Income

-$288,110

Net Assets

$41,018,779

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$76,887,035	99.5%
Investment Income	$14,869	0.0%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	-$13,643
Other Revenue	$401,129	0.5%

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

Assets/Debt
Total Assets	$103,926,363
Total Liabilities	$62,907,584
Net Assets	$41,018,779

Club or Co-Op Income
Income From Members	$76,887,035
Income From Other Sources	$402,355

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 »

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Updated December 20, 2024

Nodak Electric Cooperative Inc

Organization summary

Type of Nonprofit

Summary charts: organization finances over time

Revenue $138M (2023)

Expenses $135M (2023)

Total Assets $171M (2023)

Total Liabilities $100M (2023)

Tax Filings 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

Document Links

990

Fiscal Year Ending Dec. 2018

Extracted Financial Data

Extracted Financial Data from Form 990

Document Links

990

Fiscal Year Ending Dec. 2017

Extracted Financial Data

Extracted Financial Data from Form 990

Document Links

990

Fiscal Year Ending Dec. 2016

Extracted Financial Data

Extracted Financial Data from Form 990

Document Links

990

Fiscal Year Ending Dec. 2015

Extracted Financial Data

Extracted Financial Data from Form 990

Document Links

990

Fiscal Year Ending Dec. 2014

Extracted Financial Data

Extracted Financial Data from Form 990

Document Links

990

Fiscal Year Ending Dec. 2013

Extracted Financial Data

Extracted Financial Data from Form 990

Document Links

990

Fiscal Year Ending Dec. 2012

Extracted Financial Data

Extracted Financial Data from Form 990

Document Links

990

Fiscal Year Ending Dec. 2011

Extracted Financial Data

Extracted Financial Data from Form 990

Document Links

990

Fiscal Year Ending Dec. 2010

No Extracted Financial Data

Revenue

$138M (2023)

Expenses

$135M (2023)

Total Assets

$171M (2023)

Total Liabilities

$100M (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.
2005

Fiscal Year Ending Dec.
2004