BLUE EARTH-NICOLLET-FARIBAULT COOPERATIVE ELECTRIC ASSOCIATION

EIN: 410155615

MANKATO, MN

Total Revenue
$53,219,210
Total Expenses
$53,182,845
Total Assets
$146,455,162
Net Assets
$60,171,446
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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
MN
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

SAFELY PROVIDE THE BEST POSSIBLE SERVICE, AT THE LOWEST POSSIBLE COST.

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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 $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

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Governance

Voting Members
9
Independent Members
9
Employees
43
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
6
$693,724
Total Directors
9
$135,265
Key Employees
0
$0
Highest Compensated
5
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
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
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