NORTHWEST IOWA POWER COOPERATIVE

EIN: 420723014

LE MARS, IA

Total Revenue
$114,611,981
Total Expenses
$113,962,140
Total Assets
$279,034,305
Net Assets
$98,358,568
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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
1949
Legal Domicile
IA
Principal Officer
MATTHEW R WASHBURN
Phone
7125464141
Tax Period
2024-01-01 to 2024-12-31

NORTHWEST IOWA POWER COOPERATIVE, founded in 1949, is a major nonprofit that reported $114.6M in total revenue in fiscal year 2024.

Mission

WHOLESALE ELECTRICITY SALES TO ITS MEMBER COOPERATIVES.

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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 $113,729,851
Investment Income $258,946
Other Revenue $623,184
TOTAL REVENUE $114,611,981

Expense Breakdown

Grants Paid $7,367
Salaries & Benefits $6,562,676
Fundraising Expenses $0
Other Expenses $101,544,497
TOTAL EXPENSES $113,962,140

Year-over-Year Comparison

2024 2023 Change
Revenue $114,611,981 $110,395,836 +0.0%
Expenses $113,962,140 $109,664,924 +0.0%
Net Income $649,841 $730,912 -0.1%
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
48
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
$685,031
Total Directors
7
$84,100
Key Employees
1
$234,831
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
LOUIS REED PRESIDENT 10.00
Officer Director
$17,750 $0 $17,750
RONALD STEINHOFF VICE PRESIDENT 9.00
Officer Director
$13,080 $0 $13,080
TRENT WILL SECRETARY 7.00
Officer Director
$9,750 $0 $9,750
THOMAS WAGNER TREASURER 8.00
Officer Director
$11,260 $0 $11,260
BRYAN GREVE DIRECTOR 6.00
Director
$7,170 $0 $7,170
JAMES ELSE DIRECTOR 9.00
Director
$14,070 $0 $14,070
BRENDA LUNDERGARD DIRECTOR 8.00
Director
$11,020 $0 $11,020
MATTHEW WASHBURN EXEC. VP & GENERAL MANAGER 44.00
Officer
$304,901 $118,847 $423,748
JANE SCHEITLER CFO 41.00
Officer
$152,012 $57,431 $209,443
JAYME HUBER VP OF ENGINEERING SERVICES 41.00
Key Emp
$178,194 $56,637 $234,831
STEVE SPIELER CIO 41.00
Highest
$163,553 $48,466 $212,019
MARK NELSON POWER DISPATCHING MANAGER 41.00
Highest
$138,999 $45,869 $184,868
MICHAEL J PERSINGER APPARATUS SERVICES MANAGER 41.00
Highest
$137,272 $61,729 $199,001
THOMAS BERKENPAS TRANSMISSION SUPERINTENDEN 43.00
Highest
$132,359 $62,600 $194,959
GRANT OLIVER CREW FOREMAN 43.00
Highest
$129,932 $39,786 $169,718
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 $114,611,981 $113,962,140 $279,034,305 $649,841
2023 $110,395,836 $109,664,924 $258,746,815 $730,912
2022 $106,140,124 $105,118,609 $234,022,291 $1,021,515
2021 $97,805,529 $97,310,307 $209,144,882 $495,222
2020 $104,137,752 $103,639,160 $207,293,424 $498,592
2019 $103,773,468 $103,371,925 $190,140,714 $401,543
2018 $108,335,597 $107,182,446 $173,841,959 $1,153,151
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