THOMPSON, IA
4 risk indicators measuring financial stability and operational resilience
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Sign In — Free (10 views/day)HEARTLAND POWER COOPERATIVE, founded in 1997, is a mid-sized nonprofit that reported $31.3M in total revenue in fiscal year 2023. Expenses of $29.8M left a modest 5% surplus.
OUR VISION IS TO BE THE PROVIDER OF CHOICE FOR ENERGY AND SERVICES BY ALL CONSUMERS. OUR PRIMARY PURPOSE IS TO PROVIDE ELECTRICAL ENERGY AND OTHER SERVICES THAT ENHANCE THE QUALITY OF LIFE OF OUR MEMBERS AND THE ECONOMIC AND SOCIAL WELL-BEING OF THE REGION AT THE LOWEST POSSIBLE COST CONSISTENT WITH SOUND ECONOMIC AND MANAGEMENT DECISIONS.
HEARTLAND POWER COOPERATIVE INVESTED IN NEW SERVICE LINES, LINE AND SERVICE IMPROVEMENTS, AND ORDINARY REPLACEMENT OF EXISTING LINE TO KEEP UP THE CONDITION OF OUR DISTRIBUTION SYSTEM. A SUMMARY OF...
HEARTLAND POWER COOPERATIVE INVESTED IN NEW SERVICE LINES, LINE AND SERVICE IMPROVEMENTS, AND ORDINARY REPLACEMENT OF EXISTING LINE TO KEEP UP THE CONDITION OF OUR DISTRIBUTION SYSTEM. A SUMMARY OF THESE IMPROVEMENTS IS LISTED BELOW:15 MILES OF OVERHEAD LINE WAS REBUILT22 MILES OF UNDERGROUND LINE WAS INSTALLED35 NEW SERVICES CONNECTED467 NEW POLES WERE PLACED FOR NEW LINE, NEW SERVICES, AND FOR ORDINARY REPLACEMENT OF DAMAGED OR DECAYED POLES OR FOR BETTER LINE CLEARANCE3,056 POLES WERE INSPECTED FOR DECAY OR DAMAGE, 36 POLES TAGGED FOR REPLACEMENT306 ARRESTORS WERE ADDED TO LINES TO DRAIN OFF LIGHTNING SURGES48 ELECTRONIC TRIP SAVERS WERE INSTALLED TO IMPROVE RELIABILITY AND REDUCE OUTAGES165 SECURITY LIGHTS WERE REPAIRED
Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency
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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)
Sign In — Free (10 views/day)| 2023 | 2022 | Change | |
|---|---|---|---|
| Revenue | $31,295,055 | $29,708,110 | +0.1% |
| Expenses | $29,841,744 | $29,197,113 | +0.0% |
| Net Income | $1,453,311 | $510,997 | +1.8% |
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
Sign In| Name | Title | Hours/Week | Role | Reportable Comp | Other Comp | Total |
|---|---|---|---|---|---|---|
| DON KNUDTSON | PRESIDENT | 8.00 |
Officer
Director
|
$11,250 | $0 | $11,250 |
| MARK KINGLAND | VICE PRESIDENT | 6.00 |
Officer
Director
|
$7,500 | $0 | $7,500 |
| VINCE MORISCHE | SECRETARY | 6.00 |
Officer
Director
|
$10,025 | $0 | $10,025 |
| GARY PEARSON | ASST. SECRETARY-TREASURER | 4.00 |
Officer
Director
|
$5,850 | $0 | $5,850 |
| MICHAEL COLE | DIRECTOR | 6.00 |
Director
|
$10,350 | $0 | $10,350 |
| ROGER SOLOMONSON | DIRECTOR | 7.00 |
Director
|
$7,425 | $0 | $7,425 |
| ROGER TJARKS | DIRECTOR UNTIL 09/2023 | 4.00 |
Director
|
$5,700 | $0 | $5,700 |
| TRICIA JAEGER | TREASURER | 6.00 |
Officer
Director
|
$9,150 | $0 | $9,150 |
| JON LEERAR | CEO/GENERAL MANAGER | 50.00 |
Officer
|
$193,122 | $122,945 | $316,067 |
| KARRIE PRINGNITZ | DIRECTOR OF FINANCE | 50.00 |
Officer
|
$124,399 | $74,162 | $198,561 |
| DAVE LOW | DIRECTOR OF OPERATIONS | 50.00 |
Highest
|
$119,195 | $76,655 | $195,850 |
| JARRETT WOODS | FIRST CLASS LINEMAN | 40.00 |
Highest
|
$100,597 | $17,640 | $118,237 |
| Year | Revenue | Expenses | Assets | Net Income |
|---|---|---|---|---|
| 2024 | No data | No data | No data | No data |
| 2023 | $31,295,055 | $29,841,744 | $63,233,645 | $1,453,311 |
| 2022 | $29,708,110 | $29,197,113 | $58,299,150 | $510,997 |
| 2021 | $24,643,781 | $23,914,066 | $55,926,018 | $729,715 |
| 2020 | $27,879,416 | $27,655,584 | $54,949,765 | $223,832 |
| 2019 | $29,909,949 | $29,534,949 | $57,654,349 | $375,000 |
| 2018 | $29,461,187 | $29,159,906 | $50,865,057 | $301,281 |
Compare HEARTLAND POWER COOPERATIVE with other nonprofits in Iowa and across the country.