BROWN COUNTY RURAL ELECTRICAL ASSOCIATION

EIN: 410167135

SLEEPY EYE, MN

Total Revenue
$17,158,565
Total Expenses
$17,092,441
Total Assets
$49,130,905
Net Assets
$24,062,572
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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
MICHAEL HEIDEMANN
Phone
5077943331
Tax Period
2024-01-01 to 2024-12-31

BROWN COUNTY RURAL ELECTRICAL ASSOCIATION, founded in 1937, is a mid-sized nonprofit that reported $17.2M in total revenue in fiscal year 2024.

Mission

THE MISSION OF BROWN COUNTY ELECTRIC IS TO IMPROVE THE QUALITY OF LIFE FOR ITS MEMBERS BY PROVIDING RELIABLE ELECTRICITY AND SERVICES THAT ARE COMPETITIVELY PRICED.

Program Service Accomplishments

Program 1

THE COOPERATIVE ENGAGES IN THE DISTRIBUTION AND SALE OF ELECTRICAL POWER TO APPROXIMATELY 3,755 MEMBERS IN SOUTHWESTERN MINNESOTA WITH 4,607 ACTIVE ACCOUNTS. THE COOPERATIVE HAS 1,535 MILES OF LINE...

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THE COOPERATIVE ENGAGES IN THE DISTRIBUTION AND SALE OF ELECTRICAL POWER TO APPROXIMATELY 3,755 MEMBERS IN SOUTHWESTERN MINNESOTA WITH 4,607 ACTIVE ACCOUNTS. THE COOPERATIVE HAS 1,535 MILES OF LINE CONSISTING OF 769 MILES OF OVERHEAD AND 766 MILES OF UNDERGROUND LINE.

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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 $16,766,705
Investment Income $394,144
Other Revenue $-2,284
TOTAL REVENUE $17,158,565

Expense Breakdown

Grants Paid $2,870
Salaries & Benefits $558,173
Fundraising Expenses $0
Other Expenses $14,743,821
TOTAL EXPENSES $17,092,441

Year-over-Year Comparison

2024 2023 Change
Revenue $17,158,565 $17,469,616 0.0%
Expenses $17,092,441 $17,300,815 0.0%
Net Income $66,124 $168,801 -0.6%
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
9
Independent Members
9
Employees
17
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
5
$465,365
Total Directors
9
$116,050
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
THOMAS HAYES PRESIDENT 9.10
Officer Director
$15,150 $0 $15,150
WILLIAM BERG VICE PRESIDENT 6.20
Officer Director
$14,000 $0 $14,000
JAMES HANSON SECRETARY/TREASURER 7.80
Officer Director
$13,000 $0 $13,000
JOEL CHRISTENSEN DIRECTOR 4.10
Director
$11,000 $0 $11,000
GREGORY MAGES DIRECTOR 3.70
Director
$11,900 $0 $11,900
BRADLEY SPRENGER DIRECTOR 4.50
Director
$12,200 $0 $12,200
DAVID WENDINGER DIRECTOR 5.30
Director
$12,700 $0 $12,700
LANDON SLETTA DIRECTOR 3.90
Director
$12,200 $0 $12,200
JAMES MICKELSON DIRECTOR 5.30
Director
$13,900 $0 $13,900
MICHAEL HEIDEMANN CEO 40.30
Officer
$174,158 $94,825 $268,983
JENNIFER ROSE CFO 43.30
Officer
$93,510 $60,722 $154,232
BRANDON HAVEMEIER ENGINEERING AND OPERATIONS MANAGER 45.80
Highest
$126,568 $56,441 $183,009
NICHOLAS HORMAN LINEMAN-IN-CHARGE 41.70
Highest
$121,359 $16,380 $137,739
CONNOR NELSEN LINEMAN 41.10
Highest
$107,505 $23,604 $131,109
ADAM FISCHER LINEMAN-IN-CHARGE 41.40
Highest
$112,538 $48,501 $161,039
TYLER JENSEN LINEMAN 41.60
Highest
$106,419 $42,590 $149,009
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 $17,158,565 $17,092,441 $49,130,905 $66,124
2023 $17,469,616 $17,300,815 $47,777,901 $168,801
2022 $16,899,394 $16,842,651 $45,245,763 $56,743
2021 $16,302,715 $16,152,571 $44,068,104 $150,144
2020 $16,066,825 $15,992,493 $43,369,853 $74,332
2019 $15,400,952 $15,400,953 $40,485,127 $-1
2018 $15,157,269 $15,206,128 $37,944,586 $-48,859
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