STEELE-WASECA COOPERATIVE ELECTRIC (EIN 410558515) - Form 990 Financial Analysis & Trantor Score

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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

1936

Legal Domicile

Principal Officer

SYDNEY BRIGGS

Phone

5074517340

Tax Period

2024-01-01 to 2024-12-31

STEELE-WASECA COOPERATIVE ELECTRIC, founded in 1936, is a mid-sized nonprofit that reported $45.0M in total revenue in fiscal year 2024.

Mission

COOPERATIVE ELECTRIC UTILITY

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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 $43,353,270

Investment Income $599,630

Other Revenue $1,078,482

TOTAL REVENUE $45,031,382

Expense Breakdown

Grants Paid $0

Salaries & Benefits $910,345

Fundraising Expenses $0

Other Expenses $40,912,982

TOTAL EXPENSES $45,031,382

Year-over-Year Comparison

	2024	2023	Change
Revenue	$45,031,382	$45,660,073	0.0%
Expenses	$45,031,382	$45,660,073	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

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

$753,585

Total Directors

$290,920

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
RODNEY D KRELL	PRESIDENT	8.00	Officer Director	$34,425	$0	$34,425
PATRICK J DUCHENE	VICE-PRES	8.00	Officer Director	$30,495	$0	$30,495
SCOTT J CARLSON	ACTING SEC/TREAS	8.00	Officer Director	$35,805	$0	$35,805
RONALD D SOMMERS	SEC/TREAS	8.00	Officer Director	$33,435	$0	$33,435
JOHN R BEAL	DIRECTOR	8.00	Director	$30,990	$0	$30,990
NEIL R SCHLAAK	DIRECTOR	8.00	Director	$30,475	$0	$30,475
GERALDINE G LIENKE	DIRECTOR	8.00	Director	$30,690	$0	$30,690
DENNIS C RINGHOFER	DIRECTOR	8.00	Director	$33,765	$0	$33,765
GARY W WILSON	DIRECTOR	8.00	Director	$30,840	$0	$30,840
SYDNEY R BRIGGS	GENERAL MANAGER	40.00	Officer	$243,147	$85,843	$328,990
JON P STELTER	FINANCE MANAGER	46.00	Officer	$151,453	$138,982	$290,435
STEVE E NORDAHL	SYSTEM TECHNICIAN	40.00	Highest	$143,980	$63,208	$207,188
KEVIN A KJERSTEN	LINE FOREMAN	45.00	Highest	$154,333	$66,494	$220,827
DAN H MEIER	OPERATIONS MANAGER	40.00	Highest	$160,561	$77,008	$237,569
ADAM W DAVIS	LINE FOREMAN	45.00	Highest	$144,825	$57,092	$201,917
JACOB D JABLONSKI	LINE FOREMAN	45.00	Highest	$147,197	$54,990	$202,187

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	$45,031,382	$45,031,382	$111,468,613	No data
2023	$45,660,073	$45,660,073	$110,810,113	No data
2022	$39,111,435	$39,111,435	$99,899,632	No data
2021	$37,750,212	$37,750,212	$93,180,056	No data
2020	$38,367,246	$38,367,246	$84,043,217	No data
2019	$39,882,173	$39,882,173	$84,103,429	No data
2018	$40,549,117	$40,549,117	$81,661,170	No data

STEELE-WASECA COOPERATIVE ELECTRIC