TODD-WADENA ELECTRIC COOPERATIVE INC

EIN: 410579258

WADENA, MN

Total Revenue
$23,052,133
Total Expenses
$23,017,414
Total Assets
$63,637,493
Net Assets
$25,692,792
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Financial Trends

Organization Details

Formation Year
1940
Legal Domicile
MN
Principal Officer
LISA GRABA-MEECH
Phone
2186313120
Tax Period
2023-01-01 to 2023-12-31

TODD-WADENA ELECTRIC COOPERATIVE INC, founded in 1940, is a mid-sized nonprofit that reported $23.1M in total revenue in fiscal year 2023.

Mission

TODD WADENA ELECTRIC COOPERATIVE'S MISSION IS TO BE A TRUSTED PARTNER PROVIDING SAFE, RELIABLE, AND AFFORDABLE ENERGY OPTIONS TO OUR MEMBERS. OUR VISION IS TO IMPROVE THE QUALITY OF LIFE FOR OUR MEMBERS AND EMBRACE BENEFICIAL OPPORTUNITIES IN A CHANGING INDUSTRY. OUR VALUES ARE SERVICE, SAFETY, FISCAL RESPONSIBILITY, INTEGRITY, COMMUNICATION, EDUCATION, AND COMMITMENT TO COMMUNITY.

Program Service Accomplishments

Program 1

TODD-WADENA ELECTRIC COOPERATIVE'S ENHANCED SERVICES FOR ITS 7,585 MEMBERS INCLUDE ENERGY CONSERVATION AND EFFICIENCY GRANTS, REBATES, FREE CONSULTATIONS, AN ENERGY ANALYSIS SERVICE AND STAND ALONE...

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TODD-WADENA ELECTRIC COOPERATIVE'S ENHANCED SERVICES FOR ITS 7,585 MEMBERS INCLUDE ENERGY CONSERVATION AND EFFICIENCY GRANTS, REBATES, FREE CONSULTATIONS, AN ENERGY ANALYSIS SERVICE AND STAND ALONE GENERATORS. WE ALSO OFFER A RENEWABLE WIND ENERGY OPTION, SAFETY EDUCATION, A LOAN PROGRAM, MULTIPLE PAYMENT OPTIONS, A MONTHLY NEWSLETTER AND AN INTERACTIVE WEBSITE.ABOUT $10,050 WAS DONATED TO VARIOUS COMMUNITY GROUPS AND ORGANIZATIONS, INCLUDING SCHOOLS, COMMUNITY ACTION, FIRE DEPARTMENTS, CITY FESTIVALS, AND THE LIKE. IN ADDITION, TODD-WADENA'S MEMBERS CONTINUED TO CONTRIBUTE 100% OF THE FUNDING OF ITS 'OPERATION ROUND UP' PROGRAM, A 501(C)(3) PROGRAM THAT FUNDS PROJECTS UNDERTAKEN BY LOCAL COMMUNITY ORGANIZATIONS. OVERSEEN BY AN INDEPENDENT BOARD OF DIRECTORS, RECIPIENT ORGANIZATIONS INCLUDE FOOD SHELVES, SCHOOL GROUPS, CIVIC GROUPS, SENIOR CENTERS, HISTORICAL SOCIETIES, FIRE AND RESCUE DEPARTMENTS AND THE LIKE. IN 2023, $35,600 WAS DISTRIBUTED TO 20 LOCAL SERVICE GROUPS THROUGH THIS PROGRAM.TODD-WADENA CONTINUES TO BE AN AVID SUPPORTER OF LOCAL YOUTH. IN 2023 TWEC UNDERWROTE $4,030 IN SUPPORT OF YOUTH SUCH AS SPONSORING 4H TSHIRTS, AND $3,930 FOR SUPPORTING A YOUTH REPRESENTATIVE ON THE NRECA YOUTH TOUR TO WASHINGTON DC, WHERE THEY MET LEGISLATORS AND LEARNED ABOUT GOVERNMENT AND THE COOPERATIVE BUSINESS MODEL. IN 2023 TODD-WADENA SUPPORTED EDUCATION THROUGH UNCASHED CAPITAL CREDITS CHECKS PAYING OUT $6,000.TODD-WADENA SUPPORTS THE COMMUNITIES THEY SERVE THROUGH THEIR COMMITMENT TO COMMUNITY PROGRAMS. THERE WAS $10,490 IN SPONSORSHIPS AND EMPLOYEE TIME PROVIDED.

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $22,025,688
Investment Income $91,697
Other Revenue $934,748
TOTAL REVENUE $23,052,133

Expense Breakdown

Grants Paid $24,009
Salaries & Benefits $649,304
Fundraising Expenses $0
Other Expenses $20,938,273
TOTAL EXPENSES $23,017,414

Year-over-Year Comparison

2023 2022 Change
Revenue $23,052,133 $22,509,338 +0.0%
Expenses $23,017,414 $22,592,159 +0.0%
Net Income $34,719 $-82,821 -1.4%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
7
Independent Members
5
Employees
29
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
2
$566,626
Total Directors
7
$95,610
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MILES KUSCHEL BOARD CHAIR 14.00
Director
$18,360 $0 $18,360
TOM BRICHACEK VICE CHAIR 9.00
Director
$13,225 $0 $13,225
DALE ADAMS TREASURER 8.00
Director
$13,975 $0 $13,975
KRISTINE SPADGENSKE DIRECTOR 8.00
Director
$13,075 $0 $13,075
MARIE KATTERHAGEN SECRETARY 5.00
Director
$12,475 $0 $12,475
GENE KERN DIRECTOR 6.00
Director
$12,775 $0 $12,775
MICHAEL THORSON DIRECTOR 4.00
Director
$11,725 $0 $11,725
DAN CARLISLE PRESIDENT/CEO 45.00
Officer
$241,791 $84,757 $326,548
LISA GRABA-MEECH FINANCE MANAGER/CFO 45.00
Officer
$150,533 $89,545 $240,078
TYLER FISHER OPERATIONS MANAGER 45.00
Highest
$134,493 $45,297 $179,790
JON GRENIER CREW CHIEF 42.00
Highest
$120,618 $50,987 $171,605
JASON ORLANDO CREW CHIEF 42.00
Highest
$117,636 $56,389 $174,025
JAMIE LINE CREW CHIEF 42.40
Highest
$125,079 $28,440 $153,519
ALLISON FREDERICKSON MEMBER SERVICE MANAGER 45.00
Highest
$140,376 $40,276 $180,652
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 No data No data No data No data
2023 $23,052,133 $23,017,414 $63,637,493 $34,719
2022 $22,509,338 $22,592,159 $62,043,419 $-82,821
2021 $21,851,926 $22,054,776 $59,373,114 $-202,850
2020 $20,246,671 $20,318,409 $57,150,101 $-71,738
2019 $20,884,206 $20,904,663 $53,836,529 $-20,457
2018 $20,480,878 $20,484,906 $53,103,770 $-4,028
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