Verendrye Electric Cooperative Inc

Velva, ND
Tax-exempt since Sept. 1952
EIN: 45-0206162

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Type of Nonprofit

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

Donations to this organization are not tax deductible.

Details

According to its Dec. 2022 tax filing, this nonprofit:

Reported conflict of interest transactions

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

Revenue

$58.3M (2022)

Expenses

$56.8M (2022)

Total Assets

$171M (2022)

Total Liabilities

$107M (2022)

Source: Form 990 tax filings from 2011 to 2022

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.
2022

Revenue

$58,253,353

Expenses

$56,817,444

Net Income

$1,435,909

Net Assets

$63,551,513

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$57,886,094	99.4%
Investment Income	$313,788	0.5%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$7,605	0.0%
Net Inventory Sales	$45,866	0.1%
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$1,231,071	2.2%
Professional Fundraising Fees	$0
Other Salaries and Wages	$6,310,055	11.1%

Assets/Debt
Total Assets	$170,733,986
Total Liabilities	$107,182,473
Net Assets	$63,551,513

Club or Co-Op Income
Income From Members	$54,853,644
Income From Other Sources	$2,318,786

Reported conflict of interest transactions

Compensation

Key Employees and Officers	Compensation	Related	Other
Randy Hauck (General Manager)	$255,554	$0	$124,163
Brad Doll (Engineering Manager)	$168,236	$0	$77,342
Tim Krumwiede (Operations Manager)	$162,905	$0	$75,740
Christel Laskowski (Business Manager)	$161,650	$0	$75,623
Curt Peterson (Lineman)	$134,904	$0	$54,927
Bryan Schwan (Lineman)	$133,563	$0	$60,928
Dj Randolph (Computer Engineer)	$132,786	$0	$65,531
Rick Erickson (Area Foreman)	$126,973	$0	$62,789
Tom Rafferty (Member Service Manager)	$124,021	$0	$62,306
Karen Hennessy (Vice President)	$16,313	$0	$0
Maxine Rognlien (Asst Secretary Treasurer)	$14,613	$0	$0
Clint Gjellstad (Director)	$9,713	$0	$0
Shawn Kaylor (Secretary Treasurer)	$9,563	$0	$0
Jon Hansen (Director)	$7,713	$0	$0
Ken Schild (Director)	$6,013	$0	$0
Blaine Bruner (President)	$5,713	$0	$0
Robert Wolf (Director)	$5,413	$0	$0

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990

Filed on Nov. 8, 2023

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

View Filing

Schedules ▼

XML

Fiscal Year Ending Dec.
2021

Revenue

$53,998,395

Expenses

$51,976,938

Net Income

$2,021,457

Net Assets

$59,066,629

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$1,267,419	2.3%
Program Services	$52,565,173	97.3%
Investment Income	$121,614	0.2%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$6,096	0.0%
Net Inventory Sales	$38,093	0.1%
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$927,762	1.8%
Professional Fundraising Fees	$0
Other Salaries and Wages	$5,947,847	11.4%

Assets/Debt
Total Assets	$164,038,117
Total Liabilities	$104,971,488
Net Assets	$59,066,629

Club or Co-Op Income
Income From Members	$51,355,730
Income From Other Sources	$1,449,645

Reported conflict of interest transactions

Compensation

Key Employees and Officers	Compensation	Related	Other
Randy Hauck (General Manager)	$242,522	$0	$116,355
Brad Doll (Engineering Manager)	$162,020	$0	$73,161
Christel Laskowski (Business Manager)	$156,054	$0	$71,309
Tim Krumwiede (Operations Manager)	$141,359	$0	$70,485
Dj Randolph (Computer Engineer)	$124,410	$0	$71,112
Rick Erickson (Area Foreman)	$119,872	$0	$57,687
Tom Rafferty (Member Service Manager)	$119,870	$0	$69,065
Curt Peterson (Lineman)	$118,400	$0	$51,436
Karen Hennessy (Vice President)	$13,363	$0	$0
Maxine Rognlien (Asst Secretary Treasurer)	$10,663	$0	$0
Clint Gjellstad (Director)	$7,513	$0	$0
Shawn Kaylor (Secretary Treasurer)	$6,013	$0	$0
Ken Schild (Director)	$5,713	$0	$0
Blaine Bruner (President)	$5,413	$0	$0
Howard Anderson (Director)	$5,408	$0	$0
Robery Wolf (Director)	$5,113	$0	$0
Jon Hansen (Director)	$4,006	$0	$0

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990

Filed on Oct. 27, 2022

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

View Filing

Schedules ▼

XML

Fiscal Year Ending Dec.
2020

Revenue

$54,692,036

Expenses

$53,688,998

Net Income

$1,003,038

Net Assets

$54,751,689

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$54,109,978	98.9%
Investment Income	$548,505	1.0%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$4,900	0.0%
Net Inventory Sales	$28,653	0.1%
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$899,195	1.7%
Professional Fundraising Fees	$0
Other Salaries and Wages	$5,805,920	10.8%

Assets/Debt
Total Assets	$151,675,990
Total Liabilities	$96,924,301
Net Assets	$54,751,689

Club or Co-Op Income
Income From Members	$52,461,859
Income From Other Sources	$597,589

Reported conflict of interest transactions

Compensation

Key Employees and Officers	Compensation	Related	Other
Randy Hauck (General Manager)	$232,707	$0	$109,945
Brad Doll (Engineering Manager)	$154,128	$0	$67,974
Christel Laskowski (Business Manager)	$150,573	$0	$61,105
Tim Krumwiede (Operations Manager)	$138,499	$0	$66,537
Dj Randolph (Computer Engineer)	$120,080	$0	$67,595
Tom Rafferty (Member Service Manager)	$115,968	$0	$56,896
Rick Erickson (Area Foreman)	$115,488	$0	$57,195
Lance Werchau (Area Foreman)	$111,123	$0	$45,804
Karen Hennessy (Vice President)	$14,063	$0	$0
Shawn Kaylor (Director)	$10,313	$0	$0
Maxine Rognlien (Asst Secretary Treasurer)	$9,263	$0	$0
Clint Gjellstad (Director)	$8,213	$0	$0
Ken Schild (Director)	$7,313	$0	$0
Blaine Bruner (President)	$7,313	$0	$0
Bucky Anderson (Director)	$7,308	$0	$0
Robert Wolf (Director)	$7,013	$0	$0
John Warner (Secretary Treasurer)	$6,113	$0	$0

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990

Filed on Nov. 2, 2021

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

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Schedules ▼

XML

Fiscal Year Ending Dec.
2019

Revenue

$56,396,882

Expenses

$55,008,783

Net Income

$1,388,099

Net Assets

$52,093,770

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$55,479,109	98.4%
Investment Income	$862,157	1.5%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$30,909	0.1%
Net Inventory Sales	$24,707	0.0%
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$651,859	1.2%
Professional Fundraising Fees	$0
Other Salaries and Wages	$5,921,867	10.8%

Assets/Debt
Total Assets	$146,033,087
Total Liabilities	$93,939,317
Net Assets	$52,093,770

Club or Co-Op Income
Income From Members	$54,495,688
Income From Other Sources	$989,144

990

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

PDF

Fiscal Year Ending Dec.
2018

Revenue

$57,618,334

Expenses

$56,303,597

Net Income

$1,314,737

Net Assets

$49,025,518

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$56,818,145	98.6%
Investment Income	$785,930	1.4%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	-$5,391
Net Inventory Sales	$19,650	0.0%
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$910,513	1.6%
Professional Fundraising Fees	$0
Other Salaries and Wages	$5,750,891	10.2%

Assets/Debt
Total Assets	$145,457,561
Total Liabilities	$96,432,043
Net Assets	$49,025,518

Club or Co-Op Income
Income From Members	$52,042,883
Income From Other Sources	$984,558

990

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

PDF

Fiscal Year Ending Dec.
2017

Revenue

$53,972,957

Expenses

$52,872,534

Net Income

$1,100,423

Net Assets

$42,906,357

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$53,467,250	99.1%
Investment Income	$461,822	0.9%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$7,000	0.0%
Net Inventory Sales	$36,885	0.1%
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$840,005	1.6%
Professional Fundraising Fees	$0
Other Salaries and Wages	$5,590,795	10.6%

Assets/Debt
Total Assets	$128,369,382
Total Liabilities	$85,463,025
Net Assets	$42,906,357

Club or Co-Op Income
Income From Members	$52,149,427
Income From Other Sources	$644,577

990

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

PDF

Fiscal Year Ending Dec.
2016

Revenue

$54,782,971

Expenses

$53,974,712

Net Income

$808,259

Net Assets

$40,084,826

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$54,407,044	99.3%
Investment Income	$336,214	0.6%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$10,950	0.0%
Net Inventory Sales	$28,763	0.1%
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$943,207	1.7%
Professional Fundraising Fees	$0
Other Salaries and Wages	$5,484,987	10.2%

Assets/Debt
Total Assets	$121,379,788
Total Liabilities	$81,294,962
Net Assets	$40,084,826

Club or Co-Op Income
Income From Members	$53,763,779
Income From Other Sources	$483,753

990

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

PDF

Fiscal Year Ending Dec.
2015

Revenue

$50,009,980

Expenses

$49,080,225

Net Income

$929,755

Net Assets

$35,672,637

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$49,561,400	99.1%
Investment Income	$321,500	0.6%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$78,448	0.2%
Net Inventory Sales	$48,632	0.1%
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$812,762	1.7%
Professional Fundraising Fees	$0
Other Salaries and Wages	$5,158,567	10.5%

Assets/Debt
Total Assets	$114,285,254
Total Liabilities	$78,612,617
Net Assets	$35,672,637

Club or Co-Op Income
Income From Members	$52,808,319
Income From Other Sources	$447,487

990

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

PDF

Fiscal Year Ending Dec.
2014

Revenue

$50,328,799

Expenses

$49,613,415

Net Income

$715,384

Net Assets

$33,134,523

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$49,613,415	98.6%
Investment Income	$310,936	0.6%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$404,448	0.8%
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$967,404	1.9%
Professional Fundraising Fees	$0
Other Salaries and Wages	$4,752,875	9.6%

Assets/Debt
Total Assets	$104,403,248
Total Liabilities	$71,268,725
Net Assets	$33,134,523

Club or Co-Op Income
Income From Members	$53,518,795
Income From Other Sources	$443,246

990

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

PDF

Fiscal Year Ending Dec.
2013

Revenue

$46,227,540

Expenses

$45,533,740

Net Income

$693,800

Net Assets

$30,317,504

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$45,533,740	98.5%
Investment Income	$305,157	0.7%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$388,643	0.8%
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$924,189	2.0%
Professional Fundraising Fees	$0
Other Salaries and Wages	$4,429,373	9.7%

Assets/Debt
Total Assets	$99,266,462
Total Liabilities	$68,948,958
Net Assets	$30,317,504

Club or Co-Op Income
Income From Members	$48,901,896
Income From Other Sources	$506,796

990

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

PDF

Fiscal Year Ending Dec.
2012

Revenue

$40,821,693

Expenses

$40,233,312

Net Income

$588,381

Net Assets

$27,947,476

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$40,233,312	98.6%
Investment Income	$304,839	0.7%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$283,542	0.7%
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$848,329	2.1%
Professional Fundraising Fees	$0
Other Salaries and Wages	$3,903,720	9.7%

Assets/Debt
Total Assets	$89,293,382
Total Liabilities	$61,345,906
Net Assets	$27,947,476

Club or Co-Op Income
Income From Members	$41,836,297
Income From Other Sources	$952,501

990

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

PDF

Fiscal Year Ending Dec.
2011

Revenue

$36,251,541

Expenses

$35,779,750

Net Income

$471,791

Net Assets

$25,895,269

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$35,779,750	98.7%
Investment Income	$317,900	0.9%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$153,891	0.4%
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$689,707	1.9%
Professional Fundraising Fees	$0
Other Salaries and Wages	$2,456,356	6.9%

Assets/Debt
Total Assets	$80,792,852
Total Liabilities	$54,897,583
Net Assets	$25,895,269

Club or Co-Op Income
Income From Members	$34,298,572
Income From Other Sources	$906,748

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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Verendrye Electric Cooperative Inc

Organization summary

Type of Nonprofit

Details

Summary charts: organization finances over time

Revenue $58.3M (2022)

Expenses $56.8M (2022)

Total Assets $171M (2022)

Total Liabilities $107M (2022)

Tax Filings by Year

Fiscal Year Ending Dec. 2022

Extracted Financial Data

Extracted Financial Data from Form 990

Other

Compensation

Document Links

990

Fiscal Year Ending Dec. 2021

Extracted Financial Data

Extracted Financial Data from Form 990

Other

Compensation

Document Links

990

Fiscal Year Ending Dec. 2020

Extracted Financial Data

Extracted Financial Data from Form 990

Other

Compensation

Document Links

990

Fiscal Year Ending Dec. 2019

Extracted Financial Data

Extracted Financial Data from Form 990

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990

Fiscal Year Ending Dec. 2018

Extracted Financial Data

Extracted Financial Data from Form 990

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990

Fiscal Year Ending Dec. 2017

Extracted Financial Data

Extracted Financial Data from Form 990

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990

Fiscal Year Ending Dec. 2016

Extracted Financial Data

Extracted Financial Data from Form 990

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990

Fiscal Year Ending Dec. 2015

Extracted Financial Data

Extracted Financial Data from Form 990

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990

Fiscal Year Ending Dec. 2014

Extracted Financial Data

Extracted Financial Data from Form 990

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990

Fiscal Year Ending Dec. 2013

Extracted Financial Data

Extracted Financial Data from Form 990

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990

Fiscal Year Ending Dec. 2012

Extracted Financial Data

Extracted Financial Data from Form 990

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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

Document Links

990

Revenue

$58.3M (2022)

Expenses

$56.8M (2022)

Total Assets

$171M (2022)

Total Liabilities

$107M (2022)

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