IOWA LAKES ELECTRIC COOPERATIVE (EIN 421259366) - 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

1986

Legal Domicile

Principal Officer

RYAN CRAIG

Phone

7123627870

Tax Period

2024-01-01 to 2024-12-31

IOWA LAKES ELECTRIC COOPERATIVE, founded in 1986, is a mid-sized nonprofit in the Public & Societal Benefit sector that reported $74.7M in total revenue in fiscal year 2024. Expenses of $71.0M left a modest 5% surplus.

Mission

TO PROVIDE ELECTRIC UTILITY SERVICES TO MEMBERS OF THE COOPERATIVE.

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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 $69,130,162

Investment Income $635,965

Other Revenue $4,978,404

TOTAL REVENUE $74,744,531

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,313,962

Fundraising Expenses $0

Other Expenses $66,126,551

TOTAL EXPENSES $70,970,095

Year-over-Year Comparison

	2024	2023	Change
Revenue	$74,744,531	$73,826,421	+0.0%
Expenses	$70,970,095	$67,867,720	+0.0%
Net Income	$3,774,436	$5,958,701	-0.4%

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

$1,217,062

Total Directors

$144,600

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DANIEL WINTERHOF	CHAIR	6.00	Officer Director	$14,250	$0	$14,250
CHAD BOYSEN	VICE CHAIR	4.00	Officer Director	$10,900	$0	$10,900
TRENT WILL	SECRETARY	6.00	Officer Director	$10,650	$0	$10,650
CRYSTAL PLUTH	TREASURER	5.00	Officer Director	$11,900	$0	$11,900
BRUCE AMUNDSON	DIRECTOR	4.00	Director	$6,800	$0	$6,800
BEN ASHLAND	DIRECTOR	5.00	Director	$10,150	$0	$10,150
JERRY BECK	DIRECTOR	4.00	Director	$6,800	$0	$6,800
CRAIG DEIM	DIRECTOR	5.00	Director	$8,900	$0	$8,900
DAVID FRIEDRICH	DIRECTOR	5.00	Director	$12,150	$0	$12,150
NICK KERNS	DIRECTOR	5.00	Director	$8,400	$0	$8,400
ALAN MADDEN	DIRECTOR	7.00	Director	$9,750	$0	$9,750
GARY ROUSE	DIRECTOR	4.00	Director	$9,000	$0	$9,000
MARK TUTTLE	DIRECTOR	7.00	Director	$11,150	$0	$11,150
ROGER WILLIAMSON	DIRECTOR	5.00	Director	$8,800	$0	$8,800
NEAL HELDT	DIRECTOR	7.00	Director	$5,000	$0	$5,000
RYAN CRAIG	PRESIDENT/CEO	55.00	Officer	$268,448	$47,024	$315,472
SHELLY TREDWAY	VP OF FINANCE/CFO	48.00	Officer	$182,055	$122,950	$305,005
AARON RUSCHY	VP OF OPERATIONS & ENGINEERING	48.00	Officer	$197,972	$98,685	$296,657
JENNIFER SIEVERT	VP OF CUSTOMER & CORP RELATIONS	48.00	Officer	$183,152	$69,076	$252,228
JEREMY NELSON	MANAGER OF ENGINEERING	48.00	Highest	$125,308	$37,651	$162,959
JED SKOGERBOE	MANAGER OF BUSINESS AND COMMUNITY DEVELOPMENT	48.00	Highest	$119,049	$50,155	$169,204
BRIAN SCOTT	SUPERINTENDENT OF FIELD OPERATIONS	48.00	Highest	$128,386	$66,246	$194,632
KRISTIN HANSON	MANAGER OF HR	48.00	Highest	$120,908	$46,075	$166,983
ALDEN ZEITZ	MANAGER OF RENEWABLE ENERGY SERVICES	48.00	Highest	$128,223	$65,546	$193,769

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	$74,744,531	$70,970,095	$182,894,180	$3,774,436
2023	$73,826,421	$67,867,720	$179,052,148	$5,958,701
2022	$73,260,940	$67,916,375	$175,789,673	$5,344,565
2021	$68,291,822	$65,777,836	$167,443,125	$2,513,986
2020	$65,953,608	$63,418,433	$166,721,612	$2,535,175
2019	$73,512,821	$69,869,310	$165,969,740	$3,643,511
2018	$76,355,354	$68,602,435	$165,950,083	$7,752,919

IOWA LAKES ELECTRIC COOPERATIVE