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Minnkota Power Cooperative is a rural electric cooperative that generates and transmits electric power for eleven member cooperatives.
Source: IRS Form 990 (Tax Year 2023)
Source: IRS e-Filed Form 990 (from the IRS e-File system), Tax Year 2023
Total Revenue
▼$449.7M
Program Spending
0%
of total expenses go to program services
Total Contributions
$0
Total Expenses
▼$436.7M
Total Assets
$1.2B
Total Liabilities
▼$958.4M
Net Assets
$225.3M
Officer Compensation
→$5.2M
Other Salaries
$0
Investment Income
$4.2M
Fundraising
▼N/A
Source: USAspending.gov · Searched by organization name
Total Federal Funding
$269.4M
Awards Found
3
| Awarding Agency | Description | Amount | Fiscal Year | Period | Link |
|---|---|---|---|---|---|
| Department of Agriculture | RUS IRA NEW ERA GRANT | $159.6M | FY2025 | Jan 2025 – Jan 2027 | Open → |
| Department of Agriculture | RUS IRA NEW ERA LOAN GRANT COMBO - LOAN 2% - GRANT | $100M | FY2025 | Jan 2025 – Jan 2027 | Open → |
| Department of Energy | DE-FE0031845 WITH MINNKOTA POWER COOPERATIVE, INC. TITLED ''FRONT-END ENGINEERING AND DESIGN: PROJECT TUNDRA CARBON CAPTURE SYSTEM''. | $9.8M | FY2020 | Oct 2019 – Jun 2023 | Open → |
Department of Agriculture
$100M
RUS IRA NEW ERA LOAN GRANT COMBO - LOAN 2% - GRANT
Department of Energy
$9.8M
DE-FE0031845 WITH MINNKOTA POWER COOPERATIVE, INC. TITLED ''FRONT-END ENGINEERING AND DESIGN: PROJECT TUNDRA CARBON CAPTURE SYSTEM''.
Source: Federal Audit Clearinghouse (fac.gov)
Total Audits
5
Clean Audits
5
Material Weakness
No
Noncompliance Issues
No
| Year | Status | Financial Report | Federal Expenditure | Low Risk | Accepted |
|---|---|---|---|---|---|
| 2024 | Clean | Unmodified (Clean) | $1.4M | No | 2025-02-27 |
| 2023 | Clean | Unmodified (Clean) | $865.6K | No | 2024-03-18 |
| 2021 | Clean | Unmodified (Clean) | $4.1M | Yes | 2022-03-27 |
| 2020 | Clean | Unmodified (Clean) | $11.6M | No | 2021-03-31 |
| 2019 | Clean | Unmodified (Clean) | $4.8M | No | 2020-04-07 |
Financial Report
Unmodified (Clean)
Federal Expenditure
$1.4M
Financial Report
Unmodified (Clean)
Federal Expenditure
$865.6K
Financial Report
Unmodified (Clean)
Federal Expenditure
$4.1M
Financial Report
Unmodified (Clean)
Federal Expenditure
$11.6M
Financial Report
Unmodified (Clean)
Federal Expenditure
$4.8M
Tax Year 2023 · Source: IRS e-Filed Form 990Schedule J available
Individuals serving as officers, directors, or trustees of the organization.
| Name | Title | Hrs/Wk | Compensation | Related Orgs | Other |
|---|
Source: IRS Publication 78, Auto-Revocation List & e-Postcard Data
Tax-deductible contributions: Not confirmed
No additional tax-exempt status records found in ReconForce's database.
Sources: IRS e-Filed Form 990 (XML) & ProPublica Nonprofit Explorer
Scroll →
| Year | Revenue | Contributions | Expenses | Assets | Net Assets |
|---|---|---|---|---|---|
| 2023IRS e-File | $449.7M | $0 | $436.7M | $1.2B | $225.3M |
| 2022 | $451.6M | $0 | $432.7M | $1.2B | $213.6M |
| 2021 | $406.7M | $0 | $385.2M | $1.1B | $190.6M |
| 2020 | $395.3M | $0 | $387.6M |
Sources: ProPublica Nonprofit Explorer & IRS e-File Index
Financial data: IRS e-Filed Form 990 (Tax Year 2023)
Leadership & compensation: IRS e-Filed Form 990, Part VII (Tax Year 2023)
Federal grants: USAspending.gov (live)
Organization info: IRS Business Master File
| Total |
|---|
| Robert Mclennan | President & CEO | 40 | $1M | $0 | $209.1K | $1.3M |
| Lowell Stave | Vice President And COO | 40 | $417.2K | $0 | $86.1K | $503.3K |
| Gerad Paul | General Counsel-vp Of Legal, Compliance & Risk Mgmt | 40 | $361.3K | $0 | $84.1K | $445.4K |
| Jami Hovet | Vice President Of Administration | 40 | $305.9K | $0 | $81.1K | $387K |
| Kay Schraeder | Vice President And CFO | 40 | $298.4K | $0 | $80.1K | $378.5K |
| Todd Sailer | Vice President Of Power Supply | 40 | $291.1K | $0 | $77.9K | $369K |
| Craig Bleth | Vice President Of Project Development | 40 | $287.3K | $0 | $79.9K | $367.3K |
| Dan Inman | Vice President And Ciso | 40 | $280.9K | $0 | $70.6K | $351.5K |
| Brendan Kennelly | Vice President Of Power Delivery | 40 | $256.6K | $0 | $73.5K | $330.1K |
| Andrew Sorbo | Vice President Strategic Initiatives | 40 | $231.2K | $0 | $67K | $298.2K |
| Stacey Dahl | Vice President Of External Affairs | 40 | $219.2K | $0 | $68K | $287.1K |
| Mark Habedank | Board Chair | 3.9 | $18.6K | $0 | $0 | $18.6K |
| Colette Kujava | Board Secretary/treasurer | 3.9 | $16.1K | $0 | $0 | $16.1K |
Robert Mclennan
President & CEO
$1.3M
Hrs/Wk
40
Compensation
$1M
Related Orgs
$0
Other
$209.1K
Lowell Stave
Vice President And COO
$503.3K
Hrs/Wk
40
Compensation
$417.2K
Related Orgs
$0
Other
$86.1K
Gerad Paul
General Counsel-vp Of Legal, Compliance & Risk Mgmt
$445.4K
Hrs/Wk
40
Compensation
$361.3K
Related Orgs
$0
Other
$84.1K
Jami Hovet
Vice President Of Administration
$387K
Hrs/Wk
40
Compensation
$305.9K
Related Orgs
$0
Other
$81.1K
Kay Schraeder
Vice President And CFO
$378.5K
Hrs/Wk
40
Compensation
$298.4K
Related Orgs
$0
Other
$80.1K
Todd Sailer
Vice President Of Power Supply
$369K
Hrs/Wk
40
Compensation
$291.1K
Related Orgs
$0
Other
$77.9K
Craig Bleth
Vice President Of Project Development
$367.3K
Hrs/Wk
40
Compensation
$287.3K
Related Orgs
$0
Other
$79.9K
Dan Inman
Vice President And Ciso
$351.5K
Hrs/Wk
40
Compensation
$280.9K
Related Orgs
$0
Other
$70.6K
Brendan Kennelly
Vice President Of Power Delivery
$330.1K
Hrs/Wk
40
Compensation
$256.6K
Related Orgs
$0
Other
$73.5K
Andrew Sorbo
Vice President Strategic Initiatives
$298.2K
Hrs/Wk
40
Compensation
$231.2K
Related Orgs
$0
Other
$67K
Stacey Dahl
Vice President Of External Affairs
$287.1K
Hrs/Wk
40
Compensation
$219.2K
Related Orgs
$0
Other
$68K
Mark Habedank
Board Chair
$18.6K
Hrs/Wk
3.9
Compensation
$18.6K
Related Orgs
$0
Other
$0
Colette Kujava
Board Secretary/treasurer
$16.1K
Hrs/Wk
3.9
Compensation
$16.1K
Related Orgs
$0
Other
$0
Highest compensated employees who are not officers or directors.
| Name | Title | Hrs/Wk | Compensation | Related Orgs | Other | Total |
|---|---|---|---|---|---|---|
| Shannon Mikula | Environmental Manager | 40 | $219.5K | $0 | $68.5K | $288K |
| Grant Gunderson | Senior Manager Resource Planning | 40 | $211.5K | $0 | $66K | $277.5K |
| Theresa Brorby | Senior Manager Of Audit & Risk | 40 | $192.4K |
Shannon Mikula
Environmental Manager
$288K
Hrs/Wk
40
Compensation
$219.5K
Related Orgs
$0
Other
$68.5K
Grant Gunderson
Senior Manager Resource Planning
$277.5K
Hrs/Wk
40
Compensation
$211.5K
Related Orgs
$0
Other
$66K
Theresa Brorby
Senior Manager Of Audit & Risk
$256.6K
Hrs/Wk
40
Compensation
$192.4K
Related Orgs
$0
Other
$64.3K
Members of the governing board. Board members often serve without compensation.
| Name | Title | Hrs/Wk | Compensation | Related Orgs | Other | Total |
|---|---|---|---|---|---|---|
| Anthony Ottem | Board Member | 3.9 | $10K | $0 | $0 | $10K |
| Cheryl Grover | Board Member | 3.9 | $2,650 | $0 | $0 | $2,650 |
| Kalvin Hoff | Board Member | 3.9 | $19.9K | $0 | $0 | $19.9K |
| Les Windjue | Board Member | 3.6 | $2,000 | $0 | $17.1K | $19.1K |
| Mike Wahl | Board Member | 3.7 | $12.1K | $0 | $0 | $12.1K |
| Rick Coe | Board Member |
Anthony Ottem
Board Member
$10K
Hrs/Wk
3.9
Compensation
$10K
Related Orgs
$0
Other
$0
Cheryl Grover
Board Member
$2,650
Hrs/Wk
3.9
Compensation
$2,650
Related Orgs
$0
Other
$0
Kalvin Hoff
Board Member
$19.9K
Hrs/Wk
3.9
Compensation
$19.9K
Related Orgs
$0
Other
$0
| $1.1B |
| $167.6M |
| 2019 | $402.2M | $0 | $390.5M | $1.1B | $156.8M |
| 2018 | $414.1M | $0 | $404M | $1.1B | $150.2M |
| 2017 | $395.6M | $0 | $386M | $1B | $139.9M |
| 2016 | $378.4M | $0 | $369.2M | $1B | $130.2M |
| 2015 | $378.4M | $0 | $370.9M | $986.1M | $122.6M |
| 2014 | $347.3M | $0 | $340.1M | $950.6M | $115.6M |
| 2013 | $324.6M | $0 | $317.8M | $909M | $108.9M |
| 2012 | $293.5M | $0 | $288.5M | $728.4M | $100.5M |
| 2011 | $301.2M | $0 | $294.5M | $611.9M | $93.5M |
| 2021 | 990 | Data | PDF not yet published by IRS |
| 2020 | 990 | Data | PDF not yet published by IRS |
| 2019 | 990 | Data |
| 2018 | 990 | Data |
| 2017 | 990 | Data |
| 2016 | 990 | Data |
| 2015 | 990 | Data |
| 2014 | 990 | Data |
| 2013 | 990 | Data |
| 2012 | 990 | Data |
| 2011 | 990 | Data |
| 2010 | 990 | — |
| 2009 | 990 | — |
| 2008 | 990 | — |
| 2007 | 990 | — |
| 2006 | 990 | — |
| 2005 | 990 | — |
| 2004 | 990 | — |
| $0 |
| $64.3K |
| $256.6K |
| Andrew Freidt | Senior Manager Of Power Production | 40 | $203.5K | $0 | $51.6K | $255.1K |
| Tim Hagerott | Senior Manager Of Product Development | 40 | $198.2K | $0 | $56.7K | $254.9K |
Andrew Freidt
Senior Manager Of Power Production
$255.1K
Hrs/Wk
40
Compensation
$203.5K
Related Orgs
$0
Other
$51.6K
Tim Hagerott
Senior Manager Of Product Development
$254.9K
Hrs/Wk
40
Compensation
$198.2K
Related Orgs
$0
Other
$56.7K
| 3.9 |
| $19.3K |
| $0 |
| $0 |
| $19.3K |
| Roger Krostue | Board Member | 3.7 | $9,640 | $0 | $0 | $9,640 |
| Steve Arnesen | Board Member | 3.9 | $12.8K | $0 | $0 | $12.8K |
| Tom Woinarowicz | Board Vice Chair | 3.9 | $10.9K | $0 | $0 | $10.9K |
Les Windjue
Board Member
$19.1K
Hrs/Wk
3.6
Compensation
$2,000
Related Orgs
$0
Other
$17.1K
Mike Wahl
Board Member
$12.1K
Hrs/Wk
3.7
Compensation
$12.1K
Related Orgs
$0
Other
$0
Rick Coe
Board Member
$19.3K
Hrs/Wk
3.9
Compensation
$19.3K
Related Orgs
$0
Other
$0
Roger Krostue
Board Member
$9,640
Hrs/Wk
3.7
Compensation
$9,640
Related Orgs
$0
Other
$0
Steve Arnesen
Board Member
$12.8K
Hrs/Wk
3.9
Compensation
$12.8K
Related Orgs
$0
Other
$0
Tom Woinarowicz
Board Vice Chair
$10.9K
Hrs/Wk
3.9
Compensation
$10.9K
Related Orgs
$0
Other
$0