Nonprofit · EIN 42-0260720
FRANKLIN RURAL ELECTRIC COOP
Tax-exempt · HAMPTON, IA 50441
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2025 | 990 | $9,895,929 | $9,458,126 | $437,803 | $27,182,903 | $16,990,168 | $10,192,735 |
| December 31, 2024 | 990 | $9,100,289 | $9,100,289 | $0 | $23,062,346 | $13,203,442 | $9,858,904 |
| December 31, 2023 | 990 | $9,081,971 | $8,490,300 | $591,671 | $22,277,035 | $12,754,943 | $9,522,092 |
Financial details: 990 for the year ended December 31, 2025
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $9,349,727
- Investment income
- -$67,395
- Net gain from sales of assets
- $9,985
- Net income from sales of inventory
- $38,419
- Other revenue
- $613,597
Expenses
- Grants and similar amounts paid
- $0
- Benefits paid to members
- $258,708
- Compensation of officers, directors and key employees
- $376,090
- Salaries, compensation and benefits (total)
- $376,090
- Professional fundraising fees
- $0
- Depreciation
- $671,435
Balance sheet and other
- Total assets, start of year
- $23,062,346
- Total assets, end of year
- $27,182,903
- Total liabilities, end of year
- $16,990,168
- Net assets, end of year
- $10,192,735
- Land, buildings and equipment
- $16,717,109
- Gross unrelated business income
- $24,054
- Gross receipts
- $9,952,457
- Employees
- 16
- Volunteers
- 0
- Year formed
- 1936
- 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 |
|---|---|---|---|---|
| GARRETT THOMPSON | GENERAL MANAGER Officer | 40 | $134,587 | $45,263 |
| KAREN RINGLEB | OFFICE MANAGER/ACCOUNTANT Officer | 40 | $88,773 | $63,627 |
| COLE MARZEN | CREW CHIEF Highest-paid employee | 40 | $120,673 | $20,654 |
| CHAD FOSTER | MEMBER SERVICE Highest-paid employee | 40 | $102,102 | $37,269 |
| TOM DEMRO | CREW CHIEF Highest-paid employee | 40 | $112,047 | $25,706 |
| AUSTIN NEFF | LINEMAN Highest-paid employee | 40 | $112,160 | $22,053 |
| TREY SWANEY | APPRENTICE LINEMAN Highest-paid employee | 40 | $102,043 | $18,696 |
| GORDON GREIMANN | PRESIDENT Trustee or director, Officer | 2.4 | $8,000 | $0 |
| JOHN SNYDER | VICE PRESIDENT Trustee or director, Officer | 0.8 | $7,680 | $0 |
| DARWIN VAN HORN | SECRETARY/TREASURER Trustee or director, Officer | 1 | $7,680 | $0 |
| DALE SCHAEFER | DIRECTOR Trustee or director | 3.1 | $6,080 | $0 |
| DON GREIMANN | DIRECTOR Trustee or director | 2.1 | $5,760 | $0 |
| MATTHEW ROELFS | DIRECTOR Trustee or director | 2.5 | $4,800 | $0 |
| DAVID KENINGER | DIRECTOR Trustee or director | 1.7 | $3,840 | $0 |
990 for the year ended December 31, 2024: 12 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| GARRETT THOMPSON | GENERAL MANAGER Officer | 40 | $129,104 | $42,491 |
| KAREN RINGLEB | OFFICE MANAGER/ACCOUNTANT Officer | 40 | $85,544 | $62,696 |
| CHAD FOSTER | MEMBER SERVICE Highest-paid employee | 40 | $101,953 | $34,032 |
| TOM DEMRO | CREW CHIEF Highest-paid employee | 40 | $102,173 | $25,973 |
| COLE MARZEN | CREW CHIEF Highest-paid employee | 40 | $105,140 | $19,831 |
| JOHN SNYDER | VICE PRESIDENT Trustee or director, Officer | 0.3 | $8,800 | $0 |
| GORDON GREIMANN | PRESIDENT Trustee or director, Officer | 2.1 | $7,800 | $0 |
| MATTHEW ROELFS | DIRECTOR Trustee or director | 1.6 | $7,360 | $0 |
| DON GREIMANN | DIRECTOR Trustee or director | 2.2 | $7,200 | $0 |
| DAVID KENINGER | SECRETARY/TREASURER Trustee or director, Officer | 1.6 | $6,500 | $0 |
| DARWIN VAN HORN | DIRECTOR Trustee or director | 0.4 | $6,400 | $0 |
| DALE SCHAEFER | DIRECTOR Trustee or director | 2.9 | $5,120 | $0 |
990 for the year ended December 31, 2023: 9 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| KAREN RINGLEB | OFFICE MANAGER/ACCOUNTANT Officer | 40 | $83,537 | $79,586 |
| GARRETT THOMPSON | GENERAL MANAGER Officer | 40 | $122,936 | $27,030 |
| JOHN SNYDER | VICE PRESIDENT Trustee or director, Officer | 0.6 | $10,325 | $0 |
| GORDON GREIMANN | PRESIDENT Trustee or director, Officer | 2.8 | $8,520 | $0 |
| DAVID KENINGER | SECRETARY/TREASURER Trustee or director, Officer | 1.6 | $7,880 | $0 |
| DON GREIMANN | DIRECTOR Trustee or director | 2.8 | $7,555 | $0 |
| DALE SCHAEFER | DIRECTOR Trustee or director | 3.3 | $7,080 | $0 |
| DARWIN VAN HORN | DIRECTOR Trustee or director | 0.6 | $6,330 | $0 |
| MATTHEW ROELFS | DIRECTOR Trustee or director | 2 | $3,890 | $0 |
Address and contacts
- Address (IRS master file)
- PO BOX 437, HAMPTON, IA 50441-0437
- Principal officer (990 for 2025)
- GARRETT THOMPSON, PO BOX 437, HAMPTON, IA 50441
- Signed the 990
- GARRETT THOMPSON, GENERAL MANAGER/CEO
- Phone
- (641) 456-2557
- Website
- WWW.FRANKLINREC.COOP
- Return prepared by
- CLIFTONLARSONALLEN LLP
Mission
TO PROVIDE RELIABLE AND AFFORDABLE ELECTRICITY TO OUR MEMBERS
Program accomplishments
- THE SALE OF ENERGY AND RELATED SERVICES TO APPROXIMATELY 1,442 MEMBERS.
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
- 42-0260720
- Tax-exempt status
- 501(c)(12): Benevolent life insurance association or mutual company
- Exempt since
- 1939
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $27,182,903
- Income (IRS master file)
- $9,952,457
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2025 | $9,895,929 | $9,458,126 | $27,182,903 | XML |
| 990 | December 2024 | $9,100,289 | $9,100,289 | $23,062,346 | XML |
| 990 | December 2023 | $9,081,971 | $8,490,300 | $22,277,035 | XML |
| 990 | December 2022 | $8,423,010 | $8,423,010 | $20,255,882 | 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 42-0260720).
Questions about FRANKLIN RURAL ELECTRIC COOP
- What is the EIN of FRANKLIN RURAL ELECTRIC COOP?
- The employer identification number (EIN) of FRANKLIN RURAL ELECTRIC COOP is 42-0260720.
- Is FRANKLIN RURAL ELECTRIC COOP tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(12) since 1939.
- Which annual return does FRANKLIN RURAL ELECTRIC COOP 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 FRANKLIN RURAL ELECTRIC COOP 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 FRANKLIN RURAL ELECTRIC COOP 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 FRANKLIN RURAL ELECTRIC COOP?
- The 990 for the year ended December 31, 2025 names GARRETT THOMPSON.
- Who are the officers and directors of FRANKLIN RURAL ELECTRIC COOP?
- The 990 for the year ended December 31, 2025 lists 14 people; 14 received compensation from the organization, the highest $134,587 (GARRETT THOMPSON, GENERAL MANAGER).
- How much revenue does FRANKLIN RURAL ELECTRIC COOP have?
- On its 990 for the year ended December 31, 2025 it reported revenue of $9,895,929, expenses of $9,458,126 and total assets of $27,182,903 at year end.
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