Nonprofit · EIN 41-0558175
STEARNS COOPERATIVE ELECTRIC ASSOCIATION
Tax-exempt · MELROSE, MN 56352
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $71,510,283 | $71,510,283 | $0 | $190,422,858 | $106,763,853 | $83,659,005 |
| December 31, 2023 | 990 | $68,934,211 | $68,934,211 | $0 | $164,428,387 | $85,284,516 | $79,143,871 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $68,905,868
- Investment income
- $558,855
- Net rental income
- $45,867
- Net gain from sales of assets
- $3,544
- Net income from sales of inventory
- -$1,654
- Other revenue
- $2,045,560
Expenses
- Grants and similar amounts paid
- $0
- Benefits paid to members
- $6,632,331
- Compensation of officers, directors and key employees
- $839,703
- Salaries, compensation and benefits (total)
- $839,703
- Professional fundraising fees
- $0
- Depreciation
- $5,237,243
Balance sheet and other
- Total assets, start of year
- $164,428,387
- Total assets, end of year
- $190,422,858
- Total liabilities, end of year
- $106,763,853
- Net assets, end of year
- $83,659,005
- Land, buildings and equipment
- $125,596,820
- Gross unrelated business income
- $70,590
- Gross receipts
- $71,828,603
- Employees
- 86
- Volunteers
- 0
- Year formed
- 1937
- State of legal domicile
- MN
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, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| MATTHEW O'SHEA | CEO Officer | 45 | $280,547 | $116,317 |
| VICTORIA A HERKENHOFF | VP OF ADMINISTRATION AND FINANCE Key employee | 45 | $192,344 | $93,645 |
| GLENN BLOMMEL | MANAGER OF OPERATIONS Highest-paid employee | 48 | $176,921 | $88,825 |
| RYAN ZIERDEN | MANAGER OF IT Highest-paid employee | 50 | $163,745 | $67,503 |
| CINDY ANDERSON | MANAGER OF FINANCE Highest-paid employee | 45 | $149,559 | $81,014 |
| JAMES TURNER | MANAGER OF ENGINEERING Highest-paid employee | 43 | $147,008 | $51,698 |
| JACOB RONNING | JOUNEYMAN LINEMAN Highest-paid employee | 47.27 | $142,966 | $27,844 |
| ERIC PETERSON | PRESIDENT Trustee or director, Officer | 8 | $21,050 | $0 |
| MICHAEL CRAMER | SECRETARY/TREASURER Trustee or director, Officer | 7 | $20,550 | $0 |
| SCOTT DIRKES | DIRECTOR Trustee or director | 8 | $18,500 | $0 |
| RANDALL ROTHSTEIN | VICE PRESIDENT Trustee or director, Officer | 5 | $17,000 | $0 |
| ROBERT NIEHAUS | DIRECTOR Trustee or director | 6 | $16,000 | $0 |
| ARLYN LAWRENZ | DIRECTOR Trustee or director | 8 | $16,000 | $0 |
| GREG BLAINE | DIRECTOR Trustee or director | 5 | $16,000 | $0 |
| JEROME FRIES | DIRECTOR Trustee or director | 7 | $16,000 | $0 |
1 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| JEFF KOEHLER | DIRECTOR Trustee or director | 6 | $15,750 |
990 for the year ended December 31, 2023: 18 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| MATT O'SHEA | CEO Officer | 45 | $246,380 | $92,330 |
| VICTORIA HERKENHOFF | VP OF ADMINISTRATION AND FINANCE Key employee | 47 | $184,790 | $88,957 |
| GLENN BLOMMEL | MANAGER OF OPERATIONS Highest-paid employee | 50.5 | $173,020 | $84,890 |
| JAMES PACHAN | VP OF ENGINEERING & OPERATIONS Key employee | 45 | $165,708 | $77,966 |
| RYAN ZIERDEN | MANAGER OF IT Highest-paid employee | 49 | $156,733 | $64,275 |
| CINDY ANDERSON | MANAGER OF FINANCE Highest-paid employee | 45 | $143,477 | $75,863 |
| DARLA HONKOMP | MANAGER OF MEMBER ACCOUNTS Highest-paid employee | 45 | $131,248 | $71,539 |
| JACOB DOONER | LINE SUPERINTENDENT Highest-paid employee | 53 | $127,209 | $47,264 |
| ERIC PETERSON | DIRECTOR/PRESIDENT Trustee or director, Officer | 7 | $16,375 | $0 |
| MICHAEL CRAMER | DIRECTOR/SECRETARY/TREASURER Trustee or director, Officer | 8 | $14,875 | $0 |
| RANDALL ROTHSTEIN | DIRECTOR/VICE PRESIDENT Trustee or director, Officer | 5 | $13,675 | $0 |
| ROBERT NIEHAUS | DIRECTOR Trustee or director | 5 | $13,675 | $0 |
| GREG BLAINE | DIRECTOR Trustee or director | 6 | $13,675 | $0 |
| JEROME FRIES | DIRECTOR Trustee or director | 8 | $13,675 | $0 |
| JEFF KOEHLER | DIRECTOR Trustee or director | 6 | $13,675 | $0 |
| ARLYN LAWRENZ | DIRECTOR Trustee or director | 6 | $13,425 | $0 |
| SCOTT DIRKES | DIRECTOR Trustee or director | 6 | $9,250 | $0 |
| LAWRENCE IVERSON | DIRECTOR Trustee or director | 2 | $4,175 | $0 |
Address and contacts
- Address (IRS master file)
- PO BOX 40, MELROSE, MN 56352-0040
- Principal officer (990 for 2024)
- MATTHEW O'SHEA, 900 KRAFT DR SE PO BOX 40, MELROSE, MN 56352
- Signed the 990
- MATTHEW O'SHEA, CEO
- Phone
- (800) 962-0655
- Website
- WWW.STEARNSELECTRIC.ORG
- Return prepared by
- CLIFTONLARSONALLEN LLP
Mission
GENERATION AND PURCHASE OF ELECTRICITY FOR DISTRIBUTION AND SALE ON A COOPERATIVE BASIS TO MEMBERS.
Program accomplishments
- SOLD 524,306,568 KWH'S TO OUR COOPERATIVE MEMBERS IN 2024. THE AVERAGE NUMBER OF TOTAL SERVICES WAS 28,559. WE OPERATE ON A COOPERATIVE BASIS TO GENERATE, PURCHASE, DISTRIBUTE, AND SELL ELECTRICITY TO OUR MEMBERS. NET PATRONAGE MARGINS, OUR NET INCOME, IS USED TO GROW OUR PLANT AND RETIRE CAPITAL CREDITS. NET MARGINS ARE ALLOCATED TO MEMBERS AND RETURNED TO OUR MEMBERS OVER TIME.
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 | Check at the IRS |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 41-0558175
- Tax-exempt status
- 501(c)(12): Benevolent life insurance association or mutual company
- Donations deductible
- No
- Exempt since
- 1939
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $202,204,742
- Income (IRS master file)
- $79,425,611
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $71,510,283 | $71,510,283 | $190,422,858 | XML |
| 990 | December 2023 | $68,934,211 | $68,934,211 | $164,428,387 | XML |
| 990 | December 2022 | $64,351,952 | $64,351,952 | $157,900,352 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | 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 41-0558175).
Questions about STEARNS COOPERATIVE ELECTRIC ASSOCIATION
- What is the EIN of STEARNS COOPERATIVE ELECTRIC ASSOCIATION?
- The employer identification number (EIN) of STEARNS COOPERATIVE ELECTRIC ASSOCIATION is 41-0558175.
- Is STEARNS COOPERATIVE ELECTRIC ASSOCIATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(12) since 1939.
- Are donations to STEARNS COOPERATIVE ELECTRIC ASSOCIATION tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does STEARNS COOPERATIVE ELECTRIC ASSOCIATION 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 STEARNS COOPERATIVE ELECTRIC ASSOCIATION 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 STEARNS COOPERATIVE ELECTRIC ASSOCIATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of STEARNS COOPERATIVE ELECTRIC ASSOCIATION?
- The 990 for the year ended December 31, 2024 names MATTHEW O'SHEA.
- Who are the officers and directors of STEARNS COOPERATIVE ELECTRIC ASSOCIATION?
- The 990 for the year ended December 31, 2024 lists 16 people; 16 received compensation from the organization, the highest $280,547 (MATTHEW O'SHEA, CEO).
- How much revenue does STEARNS COOPERATIVE ELECTRIC ASSOCIATION have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $71,510,283, expenses of $71,510,283 and total assets of $190,422,858 at year end.
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