GRUNDY COUNTY RURAL ELECTRIC COOPERATIVE

EIN: 420287740 Public & Societal Benefit

GRUNDY CENTER, IA

Total Revenue
$10,275,054
Total Expenses
$10,274,377
Total Assets
$28,388,987
Net Assets
$14,026,724
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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
IA
Principal Officer
MICHAEL GEERDES
Phone
3198245251
Tax Period
2024-01-01 to 2024-12-31

GRUNDY COUNTY RURAL ELECTRIC COOPERATIVE, founded in 1937, is a mid-sized nonprofit in the Public & Societal Benefit sector that reported $10.3M in total revenue in fiscal year 2024.

Mission

PROVIDING DEPENDABLE, AFFORDABLE ELECTRIC SERVICE TO RURAL FAMILIES, FARMS AND INDUSTRIES IN GRUNDY, BLACK HAWK, MARSHALL, TAMA, BUTLER AND HARDIN COUNTIES.

Program Service Accomplishments

Program 1

SALE OF DEPENDABLE, RELIABLE ELECTRICITY AND SERVICES TO OUR 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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $9,524,975
Investment Income $28,969
Other Revenue $721,110
TOTAL REVENUE $10,275,054

Expense Breakdown

Grants Paid $0
Salaries & Benefits $1,379,181
Fundraising Expenses $0
Other Expenses $7,852,211
TOTAL EXPENSES $10,274,377

Year-over-Year Comparison

2024 2023 Change
Revenue $10,275,054 $10,250,490 +0.0%
Expenses $10,274,377 $10,250,793 +0.0%
Net Income $677 $-303 -3.2%
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
7
Independent Members
7
Employees
15
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
$202,141
Total Directors
7
$51,275
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
NICK STROHBEHN PRESIDENT 1.52
Officer Director
$6,200 $0 $6,200
KEVIN PRUISNER VICE PRESIDENT 3.85
Officer Director
$10,250 $0 $10,250
MATT KOPRIVA SECRETARY 1.38
Officer Director
$5,925 $0 $5,925
NORBERT BOYLE TREASURER 3.25
Officer Director
$10,225 $0 $10,225
JASON PAPER ASST. TREASURER/SECRETARY 1.17
Officer Director
$4,300 $0 $4,300
LARRY ROHACH DIRECTOR 4.15
Director
$9,500 $0 $9,500
ROGER BROWN DIRECTOR 0.89
Director
$4,875 $0 $4,875
MICHAEL GEERDES GENERAL MANAGER/CEO 40.00
Officer
$109,452 $55,789 $165,241
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 $10,275,054 $10,274,377 $28,388,987 $677
2023 $10,250,490 $10,250,793 $27,173,178 $-303
2022 $11,131,300 $10,605,225 $26,484,981 $526,075
2021 $9,712,208 $9,435,386 $25,480,735 $276,822
2020 $8,700,100 $8,453,216 $23,711,820 $246,884
2019 $8,342,032 $8,242,031 $22,944,825 $100,001
2018 $8,865,130 $8,508,027 $21,985,090 $357,103
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