LAKE COUNTRY POWER (EIN 411857633) - 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

1996

Legal Domicile

Principal Officer

MARK BAKK

Phone

2187425751

Tax Period

2024-01-01 to 2024-12-31

LAKE COUNTRY POWER, founded in 1996, is a major nonprofit that reported $114.8M in total revenue in fiscal year 2024.

Mission

TO PROVIDE ELECTRICITY AND OTHER SERVICES TO THE COOPERATIVE'S MEMBERS.

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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 $111,208,265

Investment Income $491,532

Other Revenue $3,106,077

TOTAL REVENUE $114,805,874

Expense Breakdown

Grants Paid $45,519

Salaries & Benefits $1,202,252

Fundraising Expenses $0

Other Expenses $103,633,416

TOTAL EXPENSES $114,805,874

Year-over-Year Comparison

	2024	2023	Change
Revenue	$114,805,874	$110,408,177	+0.0%
Expenses	$114,805,874	$110,408,177	+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

142

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

$1,063,302

Total Directors

$137,950

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BRIAN NAPSTAD	DIRECTOR	7.13	Director	$18,350	$0	$18,350
CRAIG OLSON	PRESIDENT	9.56	Director	$18,000	$0	$18,000
DANIEL KINGSLEY	VICE PRESIDENT	7.17	Director	$15,650	$0	$15,650
MICHAEL FORSMAN	SECRETARY	9.46	Director	$15,600	$0	$15,600
JASON LONG	DIRECTOR	7.58	Director	$15,500	$0	$15,500
LARRY ANDERSON	DIRECTOR	9.27	Director	$15,350	$0	$15,350
JEFF SHELDON	TREASURER	8.47	Director	$14,600	$0	$14,600
STEVE RAUKAR	DIRECTOR	9.17	Director	$13,800	$0	$13,800
ROBERT BRUCKBAUER	DIRECTOR	7.92	Director	$11,100	$0	$11,100
MARK BAKK	GENERAL MANAGER	50.00	Officer	$376,400	$84,354	$460,754
DEREK HOWE	CHIEF OPERATING OFFICER	50.00	Officer	$245,232	$89,578	$334,810
TRACY PETERSON WIRTANEN	CHIEF FINANCIAL OFFICER	50.00	Officer	$221,322	$46,416	$267,738
WILLIAM BUSSEY	DIRECTOR OF SAFETY & RISK MANAGEMENT	50.00	Highest	$201,906	$76,592	$278,498
REBECCA SEELEY	HUMAN RESOURCES DIRECTOR	50.00	Highest	$175,839	$77,730	$253,569
JEFF THIEL	CREW CHIEF	51.80	Highest	$166,176	$25,318	$191,494
WADE GOULD	AREA SUPERVISOR	50.00	Highest	$162,779	$56,818	$219,597
CRAIG SISTAD	CREW CHIEF	50.01	Highest	$158,343	$36,113	$194,456

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	$114,805,874	$114,805,874	$412,383,625	No data
2023	$110,408,177	$110,408,177	$393,961,504	No data
2022	$110,864,875	$110,871,573	$369,734,330	$-6,698
2021	$99,712,243	$99,742,340	$360,562,297	$-30,097
2020	$92,478,659	$92,524,413	$343,138,601	$-45,754
2019	$92,858,618	$92,867,610	$327,288,686	$-8,992
2018	$94,052,463	$94,050,937	$315,105,128	$1,526

LAKE COUNTRY POWER