NORTHERN PLAINS ELECTRIC COOPERATI… - Form 990 Financial Data

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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

1997

Legal Domicile

Principal Officer

SETH SYVERSON

Phone

7016523156

Tax Period

2024-01-01 to 2024-12-31

NORTHERN PLAINS ELECTRIC COOPERATIVE INC, founded in 1997, is a mid-sized nonprofit that reported $48.3M in total revenue in fiscal year 2024.

Mission

NORTHERN PLAINS WILL DELIVER DEPENDABLE ELECTRIC POWER AND ENERGY AT FAIR AND REASONABLE PRICES. WE WILL DELIVER AN EXTENDED RANGE OF CONVENIENT CUSTOMER SUPPORT SERVICES, COMPLEMENTARY TO OUR CORE ELECTRIC AND ENERGY BUSINESS. AND WE WILL PROVIDE TECHNICAL ASSISTANCE, FINANCIAL TOOLS AND HUMAN RESOURCES THAT FOSTER COMMUNITY DEVELOPMENT.

Program Service Accomplishments

Program 1

TO PROVIDE ELECTRICAL SERVICE FOR APPROXIMATELY 8,200 MEMBERS. IN 2024 THERE WERE 6,648 MILES OF TOTAL LINE.

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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 $44,388,935

Investment Income $735,899

Other Revenue $3,214,956

TOTAL REVENUE $48,339,790

Expense Breakdown

Grants Paid $0

Salaries & Benefits $7,420,624

Fundraising Expenses $0

Other Expenses $35,944,111

TOTAL EXPENSES $47,028,963

Year-over-Year Comparison

	2024	2023	Change
Revenue	$48,339,790	$44,894,140	+0.1%
Expenses	$47,028,963	$45,587,176	+0.0%
Net Income	$1,310,827	$-693,036	-2.9%

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

$592,176

Total Directors

$131,313

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
TRACY BOE	PRESIDENT	7.00	Director	$14,797	$0	$14,797
CURTIS WIESZ	VICE PRESIDENT	6.00	Director	$15,082	$0	$15,082
RANDY SIMON	SECRETARY/TREASURER	6.00	Director	$15,237	$0	$15,237
DAVID TEIGEN	ASST SECRETARY/TREASURER	6.00	Director	$12,932	$0	$12,932
MARK BREHM	DIRECTOR	6.00	Director	$12,847	$0	$12,847
CURTIS HANSON	DIRECTOR	6.00	Director	$13,847	$0	$13,847
BRUCE OLSEN	DIRECTOR	6.00	Director	$13,382	$0	$13,382
JUDY GEIER	DIRECTOR	6.00	Director	$16,507	$0	$16,507
LORI CARLSON	DIRECTOR	6.00	Director	$16,682	$0	$16,682
CHERYL BELLE	BUSINESS MANAGER	40.00	Officer	$168,779	$94,902	$263,681
SETH SYVERSON	GENERAL MANAGER	40.00	Officer	$240,594	$87,901	$328,495
SCOTT BUCHHOLTZ	MANAGER OF INFORMATION TECHNOLOGY	40.00	Highest	$152,311	$38,025	$190,336
ASHTEN DEWALD	MANAGER OF ENGINEERING/OPERATIONS	40.00	Highest	$139,205	$51,755	$190,960
JOSHUA CABLER	OPERATION MANAGER	40.00	Highest	$123,867	$72,615	$196,482
SHANNON PETERSEN	FOREMAN	40.00	Highest	$125,075	$46,236	$171,311
DOYLE SCHWANKE	FOREMAN	40.00	Highest	$133,476	$60,347	$193,823

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
2025	No data	No data	No data	No data
2024	$48,339,790	$47,028,963	$154,716,456	$1,310,827
2023	$44,894,140	$45,587,176	$149,863,792	$-693,036
2022	$45,511,655	$45,002,927	$140,788,745	$508,728
2021	$41,884,973	$40,803,461	$137,367,234	$1,081,512
2020	$45,539,170	$45,528,945	$138,564,583	$10,225
2019	$45,672,181	$45,663,124	$136,279,007	$9,057
2018	$47,434,747	$47,434,775	$122,058,723	$-28

NORTHERN PLAINS ELECTRIC COOPERATIVE INC