Nonprofit · EIN 42-1259366
IOWA LAKES ELECTRIC COOPERATIVE
Tax-exempt · ESTHERVILLE, IA 51334
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $74,744,531 | $70,970,095 | $3,774,436 | $182,894,180 | $52,829,509 | $130,064,671 |
| December 31, 2023 | 990 | $73,826,421 | $67,867,720 | $5,958,701 | $179,052,148 | $54,267,243 | $124,784,905 |
| December 31, 2021 | 990 | $68,291,822 | $65,777,836 | $2,513,986 | $167,443,125 | $55,388,943 | $112,054,182 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $69,130,162
- Investment income
- $635,965
- Net gain from sales of assets
- $107,225
- Net income from sales of inventory
- -$64,074
- Other revenue
- $4,978,404
Expenses
- Grants and similar amounts paid
- $0
- Benefits paid to members
- $3,529,582
- Compensation of officers, directors and key employees
- $1,313,962
- Salaries, compensation and benefits (total)
- $1,313,962
- Professional fundraising fees
- $0
- Depreciation
- $8,024,231
Balance sheet and other
- Total assets, start of year
- $179,052,148
- Total assets, end of year
- $182,894,180
- Total liabilities, end of year
- $52,829,509
- Net assets, end of year
- $130,064,671
- Land, buildings and equipment
- $101,900,578
- Gross unrelated business income
- $31,580
- Gross receipts
- $75,299,860
- Employees
- 66
- Volunteers
- 0
- Year formed
- 1986
- 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, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| RYAN CRAIG | PRESIDENT/CEO Officer | 55 | $268,448 | $47,024 |
| SHELLY TREDWAY | VP OF FINANCE/CFO Officer | 48 | $182,055 | $122,950 |
| AARON RUSCHY | VP OF OPERATIONS & ENGINEERING Officer | 48 | $197,972 | $98,685 |
| JENNIFER SIEVERT | VP OF CUSTOMER & CORP RELATIONS Officer | 48 | $183,152 | $69,076 |
| BRIAN SCOTT | SUPERINTENDENT OF FIELD OPERATIONS Highest-paid employee | 48 | $128,386 | $66,246 |
| ALDEN ZEITZ | MANAGER OF RENEWABLE ENERGY SERVICES Highest-paid employee | 48 | $128,223 | $65,546 |
| JED SKOGERBOE | MANAGER OF BUSINESS AND COMMUNITY DEVELOPMENT Highest-paid employee | 48 | $119,049 | $50,155 |
| KRISTIN HANSON | MANAGER OF HR Highest-paid employee | 48 | $120,908 | $46,075 |
| JEREMY NELSON | MANAGER OF ENGINEERING Highest-paid employee | 48 | $125,308 | $37,651 |
| DANIEL WINTERHOF | CHAIR Trustee or director, Officer | 6 | $14,250 | $0 |
| DAVID FRIEDRICH | DIRECTOR Trustee or director | 5 | $12,150 | $0 |
| CRYSTAL PLUTH | TREASURER Trustee or director, Officer | 5 | $11,900 | $0 |
| MARK TUTTLE | DIRECTOR Trustee or director | 7 | $11,150 | $0 |
| CHAD BOYSEN | VICE CHAIR Trustee or director, Officer | 4 | $10,900 | $0 |
| TRENT WILL | SECRETARY Trustee or director, Officer | 6 | $10,650 | $0 |
9 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| BEN ASHLAND | DIRECTOR Trustee or director | 5 | $10,150 |
| ALAN MADDEN | DIRECTOR Trustee or director | 7 | $9,750 |
| GARY ROUSE | DIRECTOR Trustee or director | 4 | $9,000 |
| CRAIG DEIM | DIRECTOR Trustee or director | 5 | $8,900 |
| ROGER WILLIAMSON | DIRECTOR Trustee or director | 5 | $8,800 |
| NICK KERNS | DIRECTOR Trustee or director | 5 | $8,400 |
| BRUCE AMUNDSON | DIRECTOR Trustee or director | 4 | $6,800 |
| JERRY BECK | DIRECTOR Trustee or director | 4 | $6,800 |
| NEAL HELDT | DIRECTOR Trustee or director | 7 | $5,000 |
990 for the year ended December 31, 2023: 25 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| AARON RUSCHY | VP OF OPERATIONS & ENGINEERING Officer | 48 | $187,930 | $87,834 |
| SHELLY TREDWAY | VP OF FINANCE/CFO Officer | 48 | $161,096 | $63,026 |
| JENNIFER SIEVERT | VP OF CUSTOMER & CORP RELATIONS Officer | 48 | $151,875 | $56,376 |
| BRIAN SCOTT | SUPERINTENDENT OF FIELD OPERATIONS Highest-paid employee | 48 | $119,461 | $61,724 |
| ALDEN ZEITZ | MANAGER OF RENEWABLE ENERGY SERVICES Highest-paid employee | 48 | $121,444 | $59,264 |
| MIKE KUMMER | LINE FOREMAN Highest-paid employee | 48 | $109,218 | $66,726 |
| TIM MCCOLLOUGH | PRESIDENT/CEO Officer | 55 | $156,959 | $17,475 |
| JED SKOGERBOE | MANAGER OF BUSINESS AND COMMUNITY DEVELOPMENT Highest-paid employee | 48 | $114,293 | $49,586 |
| KRISTIN HANSON | MANAGER OF HR Highest-paid employee | 48 | $114,537 | $42,954 |
| RYAN CRAIG | PRESIDENT/CEO Officer | 55 | $67,005 | $7,530 |
| NEAL HELDT | DIRECTOR Trustee or director | 6 | $11,300 | $0 |
| JERRY BECK | CHAIRMAN Trustee or director, Officer | 7 | $9,550 | $0 |
| GARY ROUSE | VICE CHAIRMAN Trustee or director, Officer | 7 | $9,550 | $0 |
| BRUCE AMUNDSON | DIRECTOR Trustee or director | 6 | $8,500 | $0 |
| DANIEL WINTERHOF | TREASURER Trustee or director, Officer | 6 | $8,150 | $0 |
| CRYSTAL PLUTH | DIRECTOR Trustee or director | 5 | $8,150 | $0 |
| ALAN MADDEN | DIRECTOR Trustee or director | 7 | $8,050 | $0 |
| ROGER WILLIAMSON | DIRECTOR Trustee or director | 9 | $7,800 | $0 |
| CHAD BOYSEN | DIRECTOR Trustee or director | 5 | $7,800 | $0 |
| TRENT WILL | SECRETARY Trustee or director, Officer | 5 | $7,450 | $0 |
| MARK TUTTLE | DIRECTOR Trustee or director | 10 | $6,400 | $0 |
| DAVID FRIEDRICH | DIRECTOR Trustee or director | 5 | $5,350 | $0 |
| CRAIG DEIM | DIRECTOR Trustee or director | 3 | $5,000 | $0 |
| MARC RUSH | DIRECTOR Trustee or director | 5 | $2,200 | $0 |
| BEN ASHLAND | DIRECTOR Trustee or director | 2 | $350 | $0 |
990 for the year ended December 31, 2021: 25 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| RICK OLESEN | PRESIDENT/CEO Officer | 55 | $259,707 | $92,514 |
| SEPTEMBER DAU | SR VP OF FINANCE Officer | 48 | $197,474 | $54,277 |
| AARON RUSCHY | VP OF OPERATIONS & ENGINEERING Officer | 48 | $166,766 | $71,238 |
| PAM CABOTH | VP OF ADMINISTRATIVE SERVICES Officer | 48 | $129,041 | $54,220 |
| DOUG DAU | MANAGER OF IT Highest-paid employee | 48 | $117,196 | $60,873 |
| BRIAN SCOTT | FIELD SUPERINTENDENT Highest-paid employee | 48 | $111,021 | $56,102 |
| SHELLY TREDWAY | MANAGER OF ACCOUNTING Highest-paid employee | 48 | $112,866 | $49,873 |
| ALDEN ZEITZ | MANAGER OF RENEWABLE ENERGY Highest-paid employee | 48 | $111,181 | $49,325 |
| JED SKOGERBOE | MGR OF BUSINESS & COMMUNITY DEV Highest-paid employee | 48 | $105,301 | $32,655 |
| TRESA HUSSONG | VP CUSTOMER & CORP RELATIONS - PART YEAR Officer | 48 | $78,871 | $34,937 |
| JENNIFER SIEVERT | VP CUSTOMER & CORP RELATIONS Officer | 48 | $57,773 | $10,206 |
| DANIEL WINTERHOF | TREASURER Trustee or director, Officer | 6 | $11,900 | $0 |
| JERRY BECK | CHAIRMAN Trustee or director, Officer | 8 | $11,025 | $0 |
| TRENT WILL | SECRETARY Trustee or director, Officer | 5 | $9,800 | $0 |
| ROGER WILLIAMSON | DIRECTOR Trustee or director | 10 | $9,800 | $0 |
| MARK TUTTLE | DIRECTOR Trustee or director | 5 | $9,450 | $0 |
| CRYSTAL PLUTH | DIRECTOR Trustee or director | 5 | $9,100 | $0 |
| ALAN MADDEN | DIRECTOR Trustee or director | 5 | $8,750 | $0 |
| NEAL HELDT | DIRECTOR Trustee or director | 4 | $8,400 | $0 |
| BRUCE AMUNDSON | DIRECTOR Trustee or director | 4 | $8,050 | $0 |
| CHAD BOYSEN | DIRECTOR Trustee or director | 4 | $8,050 | $0 |
| DAVID FRIEDRICH | DIRECTOR Trustee or director | 4 | $8,050 | $0 |
| GARY ROUSE | DIRECTOR Trustee or director | 6 | $8,050 | $0 |
| CRAIG DEIM | VICE CHAIRMAN Trustee or director, Officer | 4 | $5,950 | $0 |
| MARC RUSH | DIRECTOR Trustee or director | 5 | $5,075 | $0 |
Address and contacts
- Address (IRS master file)
- 702 S 1ST ST, ESTHERVILLE, IA 51334-2522
- Principal officer (990 for 2024)
- RYAN CRAIG, 702 SOUTH 1ST STREET, ESTHERVILLE, IA 513342522
- Signed the 990
- RYAN CRAIG, PRESIDENT/CEO
- Phone
- (712) 362-7870
- Website
- WWW.ILEC.COOP
- Return prepared by
- CLIFTONLARSONALLEN LLP
Mission
TO PROVIDE ELECTRIC UTILITY SERVICES TO MEMBERS OF THE COOPERATIVE.
Program accomplishments
- RURAL ELECTRIC COOPERATIVE - SALES OF ELECTRICITY TO 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 | Not 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
- 42-1259366
- Tax-exempt status
- 501(c)(12): Benevolent life insurance association or mutual company
- Donations deductible
- No
- Exempt since
- 1986
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Public and societal benefit (W80)
- Assets (IRS master file)
- $182,894,180
- Income (IRS master file)
- $75,299,860
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $74,744,531 | $70,970,095 | $182,894,180 | XML |
| 990 | December 2023 | $73,826,421 | $67,867,720 | $179,052,148 | XML |
| 990 | December 2022 | $73,260,940 | $67,916,375 | $175,789,673 | IRS |
| 990 | December 2021 | $68,291,822 | $65,777,836 | $167,443,125 | XML |
| 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 42-1259366).
Questions about IOWA LAKES ELECTRIC COOPERATIVE
- What is the EIN of IOWA LAKES ELECTRIC COOPERATIVE?
- The employer identification number (EIN) of IOWA LAKES ELECTRIC COOPERATIVE is 42-1259366.
- Is IOWA LAKES ELECTRIC COOPERATIVE tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(12) since 1986.
- Are donations to IOWA LAKES ELECTRIC COOPERATIVE tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does IOWA LAKES 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 IOWA LAKES ELECTRIC COOPERATIVE due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did IOWA LAKES ELECTRIC COOPERATIVE 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 IOWA LAKES ELECTRIC COOPERATIVE?
- The 990 for the year ended December 31, 2024 names RYAN CRAIG.
- Who are the officers and directors of IOWA LAKES ELECTRIC COOPERATIVE?
- The 990 for the year ended December 31, 2024 lists 24 people; 24 received compensation from the organization, the highest $268,448 (RYAN CRAIG, PRESIDENT/CEO).
- How much revenue does IOWA LAKES ELECTRIC COOPERATIVE have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $74,744,531, expenses of $70,970,095 and total assets of $182,894,180 at year end.
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All nonprofits in ESTHERVILLE · Iowa · Public and societal benefit