LAKE COUNTRY POWER ELECTRIC TRUST

EIN: 206179494 501(c)(3) Philanthropy & Grantmaking

COHASSET, MN

Total Revenue
$234,197
Total Expenses
$226,383
Total Assets
$43,846
Net Assets
$43,846
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
2004
Legal Domicile
MN
Principal Officer
TRACY PETERSON WIRTANEN
Phone
8004219959
Tax Period
2024-01-01 to 2024-12-31

LAKE COUNTRY POWER ELECTRIC TRUST, founded in 2004, is a small nonprofit in the Philanthropy & Grantmaking sector that reported $234K in total revenue in fiscal year 2024. Revenue grew 11% year-over-year, indicating healthy expansion. Expenses of $226K left a modest 3% surplus.

Mission

LAKE COUNTRY POWER ELECTRIC TRUST PROVIDES A FUNDING SOURCE FOR OTHER NON-PROFIT ORGANIZATIONS THAT SERVE PRIMARILY THE AREA SERVED BY LAKE COUNTRY POWER ELECTRIC COOPERATIVE. PARTICIPATING MEMBERS OF LAKE COUNTRY POWER ELECTRIC COOPERATIVE CONTRIBUTE TO THE LAKE COUNTRY POWER ELECTRIC TRUST BY ALLOWING THEIR ENERGY BILLS TO BE ROUNDED UP TO THE NEXT WHOLE DOLLAR AMOUNT EACH MONTH. THE EXCESS OF THIS ROUNDED UP AMOUNT OVER THE ENERGY BILL IS CONTRIBUTED TO THE TRUST.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $234,197
Program Service Revenue $0
Investment Income $0
Other Revenue $0
TOTAL REVENUE $234,197

Expense Breakdown

Grants Paid $226,383
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $226,383
Other Expenses $0
TOTAL EXPENSES $226,383

Year-over-Year Comparison

2024 2023 Change
Revenue $234,197 $210,941 +0.1%
Expenses $226,383 $211,413 +0.1%
Net Income $7,814 $-472 -17.6%
Key Indicators
✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
8
Independent Members
8
Employees
N/A
Volunteers
N/A

Governance Policies

✗ Conflict of Interest Policy
✗ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
4
$0
Total Directors
9
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
CHARLIE ROSS BOARD MEMBER (STARTED MAY 2024) 0.50
Director
$0 $0 $0
STEVE COUNCILMAN BOARD MEMBER (STARTED MAY 2024) 0.50
Director
$0 $0 $0
KEYTH WALLIN BOARD MEMBER (THROUGH JUNE 2024) 0.50
Director
$0 $0 $0
MARY JO STENSON PRESIDENT 0.50
Officer Director
$0 $0 $0
TARRY EDINGTON TREASURER 0.50
Officer Director
$0 $0 $0
RON SVATOS BOARD MEMBER 0.50
Director
$0 $0 $0
KATIE HILDENBRAND VICE PRESIDENT 0.50
Officer Director
$0 $0 $0
GENE RANDS BOARD MEMBER 0.50
Director
$0 $0 $0
GARY NELSON SECRETARY 0.50
Officer Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 $234,197 $226,383 $43,846 $7,814
2023 $210,941 $211,413 $36,032 $-472
2022 $210,527 $212,940 $36,504 $-2,413
2021 $206,999 $218,306 $38,917 $-11,307
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