Nonprofit · EIN 27-1224818
RACCOON VALLEY ELECTRIC COOPERATIVE
Tax-exempt · GLIDDEN, IA 51443
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2025 | 990 | $16,871,352 | $15,965,955 | $905,397 | $54,382,974 | $29,068,021 | $25,314,953 |
| December 31, 2024 | 990 | $17,040,958 | $16,110,886 | $930,072 | $54,111,775 | $30,376,339 | $23,735,436 |
| December 31, 2023 | 990 | $16,500,789 | $16,298,462 | $202,327 | $53,526,848 | $31,489,016 | $22,037,832 |
Financial details: 990 for the year ended December 31, 2025
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $16,719,458
- Investment income
- $96,285
- Net gain from sales of assets
- $27,930
- Net income from sales of inventory
- $55,609
- Other revenue
- $55,609
Expenses
- Grants and similar amounts paid
- $8,186
- Benefits paid to members
- $1,000,000
- Compensation of officers, directors and key employees
- $426,335
- Other salaries and wages
- $1,489,553
- Salaries, compensation and benefits (total)
- $2,321,897
- Professional fundraising fees
- $0
- Depreciation
- $1,399,927
Balance sheet and other
- Total assets, start of year
- $54,111,775
- Total assets, end of year
- $54,382,974
- Total liabilities, end of year
- $29,068,021
- Net assets, end of year
- $25,314,953
- Land, buildings and equipment
- $29,492,028
- Gross receipts
- $16,941,649
- Employees
- 18
- Volunteers
- 0
- Year formed
- 2010
- State of legal domicile
- IA
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| JACK SCANLAN | LINE SUPERINTENDENT Highest-paid employee | 45 | $126,516 | $93,745 |
| TERRY VAUBLE | LINE FOREMAN Highest-paid employee | 43 | $112,245 | $82,656 |
| MITCHELL MCKEEVER | OPERATIONS SUPERINTENDENT Highest-paid employee | 43 | $112,023 | $82,107 |
| CHAD LANKFORD | METER TECHNICIAN Highest-paid employee | 43 | $111,102 | $58,245 |
| EUGENE HANDLOS | CFO Officer | 45 | $129,408 | $39,030 |
| RYAN GALLOWAY | LINE FOREMAN Highest-paid employee | 43 | $116,489 | $32,164 |
| KEATON HILDRETH | INTERIM CEO (JAN-JUN)/CEO (JUL-DEC) Officer | 24 | $93,558 | $20,310 |
| JAMES GOSSETT | CEO (UNTIL JAN 2025) Officer | 45 | $59,285 | $16,566 |
| MARK LUDWIG | SECRETARY/TREASURER Trustee or director, Officer | 5.6 | $9,600 | $0 |
| STEVE SCHABLE | VICE PRESIDENT Trustee or director, Officer | 3.5 | $7,200 | $0 |
| KAREN WERNER | ASST SEC-TREAS. Trustee or director, Officer | 4.1 | $7,200 | $0 |
| DAVID ONKEN | PRESIDENT Trustee or director, Officer | 4.6 | $6,000 | $0 |
| DAVE SCHROEDER | DIRECTOR Trustee or director | 2.7 | $6,000 | $0 |
| ADAM HANDLOS | DIRECTOR Trustee or director | 0.9 | $3,600 | $0 |
| CAROL RAASCH | DIRECTOR (SEPT-DEC) Trustee or director | 5 | $3,000 | $0 |
1 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| JEFF CRANSTON | DIRECTOR (JAN-SEPT) Trustee or director | 1.2 | $1,800 |
990 for the year ended December 31, 2024: 14 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| JAMES GOSSETT | CEO Officer | 40 | $180,465 | $71,183 |
| JACK SCANLAN | LINE SUPERINTENDENT Highest-paid employee | 40 | $117,067 | $77,613 |
| MITCHELL MCKEEVER | OPERATIONS SUPERINTENDENT Highest-paid employee | 40 | $105,177 | $70,134 |
| TERRY VAUBLE | LINE FOREMAN Highest-paid employee | 40 | $104,770 | $69,158 |
| EUGENE HANDLOS | CFO Officer | 40 | $129,536 | $29,402 |
| CHAD LANKFORD | METER TECHNICIAN Highest-paid employee | 40 | $106,864 | $51,505 |
| RYAN GALLOWAY | LINE FOREMAN Highest-paid employee | 40 | $105,883 | $21,373 |
| MARK LUDWIG | SECRETARY/TREASURER Trustee or director, Officer | 6.9 | $11,850 | $0 |
| KAREN WERNER | ASST SEC-TREAS. Trustee or director, Officer | 4.5 | $7,500 | $0 |
| STEVE SCHABLE | VICE PRESIDENT Trustee or director, Officer | 3.7 | $7,200 | $0 |
| DAVID ONKEN | PRESIDENT Trustee or director, Officer | 4.9 | $6,600 | $0 |
| DAVE SCHROEDER | DIRECTOR Trustee or director | 2.8 | $6,300 | $0 |
| JEFF CRANSTON | DIRECTOR Trustee or director | 3.6 | $6,000 | $0 |
| ADAM HANDLOS | DIRECTOR Trustee or director | 1.4 | $4,500 | $0 |
990 for the year ended December 31, 2023: 12 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| JAMES GOSSETT | CEO Officer | 40 | $171,878 | $70,182 |
| JACK SCANLAN | LINE SUPERINTENDENT Highest-paid employee | 40 | $119,665 | $79,164 |
| EUGENE HANDLOS | CFO Officer | 40 | $114,165 | $44,241 |
| CHAD LANKFORD | METER TECHNICIAN Highest-paid employee | 40 | $101,261 | $48,601 |
| RYAN GALLOWAY | LINE FOREMAN Highest-paid employee | 40 | $102,145 | $22,049 |
| MARK LUDWIG | SECRETARY/TREASURER Trustee or director, Officer | 6.4 | $10,296 | $0 |
| KAREN WERNER | ASST SEC-TREAS. Trustee or director, Officer | 6.4 | $9,438 | $0 |
| JEFF CRANSTON | DIRECTOR Trustee or director | 4.8 | $7,436 | $0 |
| DAVE SCHROEDER | DIRECTOR Trustee or director | 3.1 | $6,864 | $0 |
| DAVID ONKEN | PRESIDENT Trustee or director, Officer | 5.4 | $6,292 | $0 |
| STEVE SCHABLE | VICE PRESIDENT Trustee or director, Officer | 3.4 | $5,720 | $0 |
| ADAM HANDLOS | DIRECTOR Trustee or director | 0.8 | $2,860 | $0 |
Address and contacts
- Address (IRS master file)
- 28725 HIGHWAY 30, GLIDDEN, IA 51443-8823
- In care of
- % KEATON HILDRETH
- Principal officer (990 for 2025)
- KEATON HILDRETH, PO BOX 486, GLIDDEN, IA 514430486
- Signed the 990
- KEATON HILDRETH, CEO
- Phone
- (712) 659-3649
- Website
- WWW.RVEC.COOP
- Return prepared by
- EIDE BAILLY LLP
Mission
TO PROVIDE SAFE, RELIABLE AND COMPETITIVE SERVICES WHILE BEING A LEADER IN OUR COMMUNITY'S PROSPERITY AND GROWTH.
Program accomplishments
- PROVIDE ELECTRIC SERVICE TO APPROXIMATELY 2,094 MEMBERS. REVENUE IS COLLECTED FROM THE MEMBERS AND OTHER RELATED SOURCES FOR THE SOLE PURPOSE OF COVERING THE COST OF ELECTRIC SERVICE PROVIDED; AND TO PROVIDE OPERATING RESERVES TO FUND THOSE ACTIVITIES. EXCESS REVENUES OVER THE COST OF OPERATIONS AND ALLOCATIONS TO RESERVES ARE RETURNED TO THE MEMBERS AS PATRONAGE CAPITAL.
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | 990 on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 27-1224818
- Tax-exempt status
- 501(c)(12): Benevolent life insurance association or mutual company
- Donations deductible
- No
- Exempt since
- 2010
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Public and societal benefit (W80)
- Assets (IRS master file)
- $54,382,974
- Income (IRS master file)
- $16,941,649
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2025 | $16,871,352 | $15,965,955 | $54,382,974 | XML |
| 990 | December 2024 | $17,040,958 | $16,110,886 | $54,111,775 | XML |
| 990 | December 2023 | $16,500,789 | $16,298,462 | $53,526,848 | XML |
| 990 | December 2022 | $16,981,957 | $16,690,827 | $47,798,291 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2019 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 27-1224818).
Questions about RACCOON VALLEY ELECTRIC COOPERATIVE
- What is the EIN of RACCOON VALLEY ELECTRIC COOPERATIVE?
- The employer identification number (EIN) of RACCOON VALLEY ELECTRIC COOPERATIVE is 27-1224818.
- Is RACCOON VALLEY ELECTRIC COOPERATIVE tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(12) since 2010.
- Are donations to RACCOON VALLEY ELECTRIC COOPERATIVE tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does RACCOON VALLEY ELECTRIC COOPERATIVE file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of RACCOON VALLEY ELECTRIC COOPERATIVE due?
- The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did RACCOON VALLEY ELECTRIC COOPERATIVE last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2025.
- Who is the principal officer of RACCOON VALLEY ELECTRIC COOPERATIVE?
- The 990 for the year ended December 31, 2025 names KEATON HILDRETH.
- Who are the officers and directors of RACCOON VALLEY ELECTRIC COOPERATIVE?
- The 990 for the year ended December 31, 2025 lists 16 people; 16 received compensation from the organization, the highest $126,516 (JACK SCANLAN, LINE SUPERINTENDENT).
- How much revenue does RACCOON VALLEY ELECTRIC COOPERATIVE have?
- On its 990 for the year ended December 31, 2025 it reported revenue of $16,871,352, expenses of $15,965,955 and total assets of $54,382,974 at year end.
Other nonprofits in GLIDDEN
- LIL WILDCAT EDUCATION CENTER INC EIN 84-3317030 · last filed 990 for 2025
- GLIDDEN HOUSING CORP EIN 23-7124657 · last filed 990-N for 2025
- ENDOWGLIDDEN EIN 83-1937461 · last filed 990-EZ for 2025
- ANCIENT FREE & ACCEPTED MASONS OF IOWA EIN 23-7503065 · last filed 990 for 2024
- HONEY CREEK RODEO EIN 88-3329528 · last filed 990-EZ for 2023
- ELMER L SMITH SCHOLARSHIP SCHOOL TRUST EIN 42-6485539 · last filed 990 for 2025
- THE GLIDDEN-RALSTON FOUNDATION FOR EDUCATION EXCELLENCE INC EIN 42-1427458 · last filed 990-PF for 2025
- WILDCAT TRAINING CENTER EIN 87-3651035 · last filed 990-N for 2024
All nonprofits in GLIDDEN · Iowa · Public and societal benefit