BLUE EARTH-NICOLLET-FARIBAULT COOP… - Form 990 Financial Data

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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

DAVID SUNDERMAN

Phone

5073877963

Tax Period

2024-01-01 to 2024-12-31

BLUE EARTH-NICOLLET-FARIBAULT COOPERATIVE ELECTRIC ASSOCIATION, founded in 1937, is a mid-sized nonprofit that reported $53.2M in total revenue in fiscal year 2024.

Mission

TO SAFELY PROVIDE THE BEST POSSIBLE SERVICE, AT THE LOWEST POSSIBLE COST, CONSISTENT WITH SOUND BUSINESS MANAGEMENT.

Program Service Accomplishments

Program 1

SALE OF 377,458,862 KWH TO 19,980 ELECTRIC SERVICES. MAINTAINED 3,650 MILES OF UNDERGROUND AND OVERHEAD DISTRIBUTION 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 $51,900,145

Investment Income $327,511

Other Revenue $991,554

TOTAL REVENUE $53,219,210

Expense Breakdown

Grants Paid $0

Salaries & Benefits $757,269

Fundraising Expenses $0

Other Expenses $47,926,880

TOTAL EXPENSES $53,182,845

Year-over-Year Comparison

	2024	2023	Change
Revenue	$53,219,210	$53,900,086	0.0%
Expenses	$53,182,845	$53,860,781	0.0%
Net Income	$36,365	$39,305	-0.1%

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

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

$693,724

Total Directors

$135,265

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BRADLEY LEIDING	PRESIDENT	7.87	Officer Director	$19,115	$0	$19,115
DON WESTPHAL	VICE PRESIDENT	7.77	Officer Director	$15,830	$0	$15,830
TERRANCE GENELIN	TREASURER	10.40	Officer Director	$19,350	$0	$19,350
WARREN SCOTT JOHNSON	SECRETARY	7.90	Officer Director	$17,425	$0	$17,425
MARILYN LYNCH	DIRECTOR	7.48	Director	$14,785	$0	$14,785
DUANE EHRICH	DIRECTOR	5.77	Director	$10,830	$0	$10,830
BLAKE MESHKE	DIRECTOR	4.98	Director	$11,445	$0	$11,445
GARY STENZEL	DIRECTOR	6.13	Director	$12,195	$0	$12,195
JOHN WELLS	DIRECTOR	7.21	Director	$14,290	$0	$14,290
DAVID SUNDERMAN	CEO	40.00	Officer	$279,672	$157,023	$436,695
ABBY DAHMS	FINANCE MANAGER	40.00	Officer	$132,899	$52,410	$185,309
TIM BRAULICK	OPERATIONS & ENGINEERING MANAGER	40.00	Highest	$158,828	$62,171	$220,999
DUANE HAGEN	CREW CHIEF	40.00	Highest	$143,103	$52,473	$195,576
CHRISTOPHER BECTHOLD	CREW CHIEF	40.00	Highest	$133,530	$56,636	$190,166
NICK SMITH	CREW CHIEF	40.00	Highest	$130,639	$30,377	$161,016
CLAY HILL	CREW CHIEF	40.00	Highest	$142,971	$43,041	$186,012

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
2025	No data	No data	No data	No data
2024	$53,219,210	$53,182,845	$146,455,162	$36,365
2023	$53,900,086	$53,860,781	$144,377,847	$39,305
2022	$53,795,371	$53,777,621	$137,782,800	$17,750
2021	$49,683,649	$45,893,377	$123,765,879	$3,790,272
2020	$45,959,324	$44,518,043	$118,260,844	$1,441,281
2019	$48,217,093	$46,500,780	$114,600,121	$1,716,313
2018	$49,021,122	$46,161,223	$110,994,265	$2,859,899

BLUE EARTH-NICOLLET-FARIBAULT COOPERATIVE ELECTRIC ASSOCIATION