Nonprofit · EIN 42-0655796
CORN BELT POWER COOPERATIVE
Tax-exempt · HUMBOLDT, IA 50548
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2025 | 990 | $179,857,821 | $177,333,272 | $2,524,549 | $600,300,691 | $382,836,965 | $217,463,726 |
| December 31, 2024 | 990 | $171,564,846 | $168,932,021 | $2,632,825 | $570,127,492 | $362,527,974 | $207,599,518 |
| December 31, 2023 | 990 | $172,579,186 | $171,220,431 | $1,358,755 | $542,332,165 | $346,009,863 | $196,322,302 |
Financial details: 990 for the year ended December 31, 2025
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $178,108,269
- Investment income
- $1,743,825
- Net rental income
- $5,295
- Net gain from sales of assets
- $1,135,214
- Other revenue
- $5,727
Expenses
- Grants and similar amounts paid
- $0
- Benefits paid to members
- $14,766,000
- Compensation of officers, directors and key employees
- $1,981,183
- Other salaries and wages
- $6,533,597
- Salaries, compensation and benefits (total)
- $12,897,504
- Professional fundraising fees
- $0
- Legal fees
- $57,599
- Accounting fees
- $88,252
- Travel
- $473,193
- Depreciation
- $14,113,899
Balance sheet and other
- Total assets, start of year
- $570,127,492
- Total assets, end of year
- $600,300,691
- Total liabilities, end of year
- $382,836,965
- Net assets, end of year
- $217,463,726
- Land, buildings and equipment
- $317,759,345
- Publicly traded securities
- $78,938,649
- Gross receipts
- $179,857,821
- Employees
- 94
- Volunteers
- 0
- Year formed
- 1947
- 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 |
|---|---|---|---|---|
| Jacob Olberding | Executive VP and General Manager Officer | 40 | $303,671 | $55,607 |
| Michael Finnegan | VP Engineering and System Operations Officer | 40 | $193,950 | $148,352 |
| Michael Thatcher | VP Power Supply Officer | 40 | $225,869 | $50,526 |
| Patrick Connor | Plant Manager Highest-paid employee | 40 | $174,195 | $86,193 |
| Ryan Cornelius | VP Corporate Relations Officer | 40 | $210,017 | $30,511 |
| Brittany Dickey | VP Business Development Officer | 40 | $189,476 | $45,804 |
| Faith Warden | VP Finance and Administration Officer | 40 | $201,067 | $32,068 |
| Larry Brusseau | Compliance Director Highest-paid employee | 40 | $154,989 | $53,188 |
| Brad Hill | Communications Superintendent Highest-paid employee | 40 | $143,318 | $38,983 |
| Jon Behounek | Chief System Operator Highest-paid employee | 40 | $145,033 | $18,714 |
| Jon Myer | Manger of Information Technology Highest-paid employee | 40 | $142,369 | $19,963 |
| David Onken | President Trustee or director, Key employee | 10 | $27,600 | $0 |
| Larry Rohach | Treasurer Trustee or director, Officer | 7 | $18,200 | $0 |
| Dale Schaefer | Vice President Trustee or director, Officer | 7 | $16,400 | $0 |
| Rick Thompson | Director Trustee or director | 3 | $15,600 | $0 |
5 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Brad Honold | Director Trustee or director | 7 | $14,800 |
| Gary Poppe | Asst Secretary/Treasurer Trustee or director, Officer | 5 | $14,800 |
| Steve Boedecker | Director Trustee or director | 3 | $13,800 |
| Ted Hall | Director Trustee or director | 5 | $10,800 |
| Jerry Beck | Secretary Trustee or director, Officer | 6 | $10,200 |
990 for the year ended December 31, 2024: 23 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Jacob Olberding eff April 24 | Executive VP and General Manager Officer | 40 | $279,413 | $66,478 |
| Michael Finnegan eff March 24 | VP Engineering and System Operations Officer | 40 | $164,363 | $146,446 |
| Kenneth H Kuyper retired April 24 | Executive VP and General Manager Officer | 40 | $213,274 | $78,294 |
| Patrick Connor | Plant Manager Highest-paid employee | 40 | $167,315 | $108,404 |
| Michael Thatcher | VP Power Supply Officer | 40 | $202,789 | $67,457 |
| Ryan Cornelius | VP Corporate Relations Officer | 40 | $202,855 | $54,885 |
| Karen K Berte retired June 24 | Sr VP Finance and Administration Officer | 40 | $160,348 | $96,581 |
| Larry Brusseau | Compliance Director Highest-paid employee | 40 | $149,159 | $74,209 |
| Brittany Dickey | VP Business Development Officer | 40 | $177,203 | $36,814 |
| Daniel Shiflett | ROW & Construction Superintendent Highest-paid employee | 40 | $141,786 | $68,758 |
| Brad Hill | Communications Superintendent Highest-paid employee | 40 | $137,367 | $45,957 |
| Faith Warden eff June 24 | VP Finance and Administration Officer | 40 | $126,951 | $40,621 |
| Jon Behounek | Chief System Operator Highest-paid employee | 40 | $138,305 | $15,745 |
| Kevin Bornhoft retired March 24 | SR VP, Engineering Officer | 40 | $96,821 | $0 |
| David Onken | President Trustee or director, Officer | 8 | $22,200 | $0 |
| Brad Honold | Director Trustee or director | 8 | $20,400 | $0 |
| Dale Schaefer | Vice President Trustee or director, Officer | 6 | $17,800 | $0 |
| Larry Rohach | Treasurer Trustee or director, Officer | 6 | $17,400 | $0 |
| Steve Boedecker | Director Trustee or director | 5 | $16,600 | $0 |
| Rick Thompson | Director Trustee or director | 4 | $16,000 | $0 |
| Jerry Beck | Secretary Trustee or director, Officer | 7 | $15,400 | $0 |
| Gary Poppe | Asst Secretary/Treasurer Trustee or director, Officer | 5 | $15,200 | $0 |
| Ted Hall | Director Trustee or director | 5 | $10,600 | $0 |
990 for the year ended December 31, 2023: 20 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Kenneth H Kuyper | Executive VP and General Manager Officer | 40 | $377,775 | $175,414 |
| Kevin W Bornhoft | VP Engineering and System Operations Officer | 40 | $210,413 | $308,131 |
| Ryan Cornelius | VP Corporate Relations Officer | 40 | $187,267 | $226,239 |
| Jacob Olberding | VP Power Supply Officer | 40 | $207,141 | $195,035 |
| Patrick Connor | Plant Manager Highest-paid employee | 40 | $161,656 | $165,365 |
| Karen K Berte | Sr VP Finance and Administration Officer | 40 | $229,344 | $83,274 |
| Michael Finnegan | System Electrical Supt Highest-paid employee | 40 | $127,436 | $177,680 |
| Brittany Dickey | VP Business Development Officer | 40 | $156,958 | $133,442 |
| Jeremy Stattelman | Transmission Superintendent Highest-paid employee | 40 | $126,979 | $150,356 |
| Larry Brusseau | Compliance Director Highest-paid employee | 40 | $144,318 | $97,642 |
| Daniel Shiflett | ROW & Construction Superintendent Highest-paid employee | 40 | $135,565 | $89,451 |
| David Onken | President Trustee or director, Officer | 11 | $30,875 | $0 |
| Steve Boedecker | Director Trustee or director | 5 | $21,600 | $0 |
| Dale Schaefer | Vice President Trustee or director, Officer | 6 | $20,750 | $0 |
| Brad Honold | Director Trustee or director | 9 | $19,400 | $0 |
| Larry Rohach | Treasurer Trustee or director, Officer | 7 | $18,400 | $0 |
| Rick Thompson | Director Trustee or director | 4 | $15,200 | $0 |
| Gary Poppe | Asst Secretary/Treasurer Trustee or director, Officer | 4 | $12,600 | $0 |
| Ted Hall | Director Trustee or director | 5 | $12,200 | $0 |
| Jerry Beck | Secretary Trustee or director, Officer | 6 | $10,000 | $0 |
Address and contacts
- Address (IRS master file)
- PO BOX 508, HUMBOLDT, IA 50548-0508
- In care of
- % CORN BELT POWER COOPERATIVE
- Principal officer (990 for 2025)
- Jacob Olberding, 1300 13th St N, Humboldt, IA 50548
- Signed the 990
- Faith Warden, VP Finance & Administration
- Phone
- (515) 332-2571
- Website
- www.cbpower.coop
Mission
To enhance the quality of life for our members, employees and communities.
Program accomplishments
- Each activity is part of the whole process of generating and transmitting electrical energy to our 9 member rural service cooperatives and our one member municipal electrical cooperative.
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
- 42-0655796
- Tax-exempt status
- 501(c)(12): Benevolent life insurance association or mutual company
- Donations deductible
- No
- Exempt since
- 1949
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $600,300,691
- Income (IRS master file)
- $179,857,821
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2025 | $179,857,821 | $177,333,272 | $600,300,691 | XML |
| 990 | December 2024 | $171,564,846 | $168,932,021 | $570,127,492 | IRS |
| 990 | December 2023 | $172,579,186 | $171,220,431 | $542,332,165 | XML |
| 990 | December 2022 | $168,893,187 | $167,570,093 | $515,608,745 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | 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 42-0655796).
Questions about CORN BELT POWER COOPERATIVE
- What is the EIN of CORN BELT POWER COOPERATIVE?
- The employer identification number (EIN) of CORN BELT POWER COOPERATIVE is 42-0655796.
- Is CORN BELT POWER COOPERATIVE tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(12) since 1949.
- Are donations to CORN BELT POWER COOPERATIVE tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does CORN BELT POWER 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 CORN BELT POWER 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 CORN BELT POWER 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 CORN BELT POWER COOPERATIVE?
- The 990 for the year ended December 31, 2025 names Jacob Olberding.
- Who are the officers and directors of CORN BELT POWER COOPERATIVE?
- The 990 for the year ended December 31, 2025 lists 20 people; 20 received compensation from the organization, the highest $303,671 (Jacob Olberding, Executive VP and General Manager).
- How much revenue does CORN BELT POWER COOPERATIVE have?
- On its 990 for the year ended December 31, 2025 it reported revenue of $179,857,821, expenses of $177,333,272 and total assets of $600,300,691 at year end.
Other nonprofits in HUMBOLDT
- WE WILL COLLECTIVE INCORPORATED EIN 88-1849753 · last filed 990 for 2024
- CENTRAL IOWA RECOVERY INC EIN 84-4341141 · last filed 990 for 2025
- HUMBOLDT HOMES LTD EIN 23-7409470 · last filed 990 for 2025
- HUMBOLDT COUNTY MEMORIAL HOSPITAL FOUNDATION EIN 42-1354617 · last filed 990 for 2025
- HUMBOLDT COUNTY AGRICULTURAL SOCIETY EIN 42-0684986 · last filed 990 for 2025
- PARTNERSHIP FOR ECONOMIC GROWTH OF HUMBOLDT COUNTY INC EIN 42-1356939 · last filed 990 for 2025
- HUMBOLDT COUNTY ANIMAL SHELTER INC EIN 46-1980961 · last filed 990 for 2025
- HUMOTA MOVIE GROUP INC EIN 83-2805280 · last filed 990 for 2024