CONNEXUS ENERGY

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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

1937

Legal Domicile

Principal Officer

BRIAN BURANDT

Phone

7633232600

Tax Period

2024-01-01 to 2024-12-31

CONNEXUS ENERGY, founded in 1937, is a major nonprofit that reported $259.0M in total revenue in fiscal year 2024.

Mission

CONNEXUS ENERGY SERVES OUR MEMBERSHIP BY PROVIDING COST COMPETITIVE, RELIABLE ELECTRICITY AND RELATED SERVICES, WITH AN ENVIRONMENTAL COMMITMENT, AFFIRMING THE VALUE OF MEMBER COOPERATIVE OWNERSHIP.

Program Service Accomplishments

Program 1

CONNEXUS ENERGY PROVIDED UTILITY SERVICES TO APPROXIMATELY 147,624 MEMBERS IN EIGHT COUNTIES IN THE NORTH SUBURBAN AREA OF MINNEAPOLIS AND ST. PAUL, MN AND MAINTAINED 9,640 MILES OF LINES.

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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%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $256,273,120

Investment Income $2,221,004

Other Revenue $458,968

TOTAL REVENUE $258,953,092

Expense Breakdown

Grants Paid $576,060

Salaries & Benefits $30,852,880

Fundraising Expenses $0

Other Expenses $216,951,969

TOTAL EXPENSES $258,953,092

Year-over-Year Comparison

	2024	2023	Change
Revenue	$258,953,092	$260,909,344	0.0%
Expenses	$258,953,092	$260,909,344	0.0%
Net Income	$0	$0	N/A

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

Governance

Voting Members

Independent Members

Employees

261

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

$3,538,981

Total Directors

$388,677

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
FRAN BATOR	CHAIR	25.00	Officer Director	$60,510	$0	$60,510
MARK ETHEN	VICE CHAIR	14.00	Officer Director	$26,683	$22,500	$49,183
SHELLY PETERSON	SECRETARY/TREASURER	10.00	Officer Director	$49,423	$0	$49,423
MIKE THEWS	ASST. SECRETARY/TREASURER	14.00	Officer Director	$49,223	$0	$49,223
ANGELA RONAYNE	DIRECTOR FROM 04/2024	7.00	Director	$32,789	$0	$32,789
KENNETH FIERECK	DIRECTOR UNTIL 04/2024	14.00	Director	$16,394	$0	$16,394
GORDON WESTERLIND	DIRECTOR UNTIL 04/2024	12.00	Director	$10,061	$6,333	$16,394
RICHARD BRAASTAD	DIRECTOR	9.00	Director	$49,183	$0	$49,183
JOSEPH GRUENES	DIRECTOR FROM 04/2024	10.00	Director	$20,289	$12,500	$32,789
SAM VILLELLA	DIRECTOR FROM 04/2024	10.00	Director	$9,789	$23,000	$32,789
GREG RIDDERBUSCH	PRESIDENT/CEO UNTIL 03/2024	50.00	Officer	$518,420	$39,376	$557,796
YAN PAUL MARTINEZ	VP/CFO	50.00	Officer	$439,202	$72,849	$512,051
BRIAN BURANDT	PRESIDENT/CEO	50.00	Officer	$407,389	$71,011	$478,400
MARK KOPLIN	VP TECHNOLOGY	45.00	Officer	$295,622	$88,237	$383,859
NICK LOEHLEIN	VP ELECTRIC OPERATIONS	45.00	Officer	$291,669	$96,487	$388,156
LINDA MAEGI	VP EMPLOYEE SERVICES	50.00	Officer	$289,918	$96,920	$386,838
ALISON MILES	VP MEMBER SERVICES	47.00	Officer	$241,483	$61,979	$303,462
SIDNEY JACKSON	PRESIDENT AND CEO 03/2024-06/2024	50.00	Officer	$303,905	$16,175	$320,080
MICHAEL RIMOLDE	CREW LEAD	59.00	Highest	$220,319	$57,981	$278,300
JARED ROLSTAD	LEAD LINEWORKER	64.00	Highest	$231,179	$35,662	$266,841
TED BOONSTRA	CREW LEAD	58.00	Highest	$216,562	$62,321	$278,883
SCOTT JOHNSON	CREW LEAD	62.00	Highest	$233,198	$65,892	$299,090
JARED NEWTON	DIRECTOR, ENGINEERING & SYSTEM OPS	50.00	Highest	$216,174	$63,515	$279,689

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	$258,953,092	$258,953,092	$493,777,555	No data
2023	$260,909,344	$260,909,344	$496,063,364	No data
2022	$266,851,245	$266,851,245	$491,977,657	No data
2021	$273,978,610	$273,978,610	$473,343,536	No data
2020	$255,163,109	$255,163,109	$462,654,743	No data
2019	$246,785,973	$246,785,973	$453,628,669	No data
2018	$280,543,555	$280,543,555	$443,862,647	No data