Nonprofit · EIN 45-0166406
MINNKOTA POWER COOPERATIVE INC
Tax-exempt · GRAND FORKS, ND 58201
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2025 | 990 | $486,986,596 | $477,334,362 | $9,652,234 | $1,230,034,108 | $984,597,037 | $245,437,071 |
| December 31, 2024 | 990 | $472,008,366 | $462,753,449 | $9,254,917 | $1,191,992,873 | $956,190,831 | $235,802,042 |
| December 31, 2023 | 990 | $449,704,391 | $436,669,776 | $13,034,615 | $1,183,715,921 | $958,382,383 | $225,333,538 |
Financial details: 990 for the year ended December 31, 2025
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $481,518,031
- Investment income
- $3,325,892
- Royalties
- $1,399,978
- Other revenue
- $2,142,673
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $6,484,879
- Salaries, compensation and benefits (total)
- $6,484,879
- Professional fundraising fees
- $0
- Depreciation
- $32,635,351
Balance sheet and other
- Total assets, start of year
- $1,191,992,873
- Total assets, end of year
- $1,230,034,108
- Total liabilities, end of year
- $984,597,037
- Net assets, end of year
- $245,437,071
- Land, buildings and equipment
- $1,036,425,432
- Gross receipts
- $486,986,596
- Employees
- 456
- Volunteers
- 0
- Year formed
- 1940
- 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, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Robert McLennan | President & CEO Officer | 40 | $1,219,485 | $210,431 |
| Gerad Paul | Executive VP, Chief Legal Officer Officer | 40 | $400,375 | $89,681 |
| Brendan Kennelly | Executive VP, Chief Operating Officer Officer | 40 | $363,994 | $88,681 |
| Dan Inman | Senior VP of Power Delivery, CITO Officer | 40 | $335,740 | $86,614 |
| Jami Hovet | Executive VP, Chief Administrative Officer Officer | 40 | $334,258 | $86,695 |
| Lowell Stave | VP, Chief Operating Officer Officer | 40 | $389,326 | $28,401 |
| Kay Schraeder | Executive VP, Chief Financial Officer Officer | 40 | $329,040 | $85,750 |
| Todd Sailer | Vice President of Power Supply Officer | 40 | $329,089 | $84,125 |
| Andrew Sorbo | Senior VP of Power Supply Officer | 40 | $300,553 | $80,005 |
| Grant Gunderson | Vice President Resource Planning & Markets Officer | 40 | $273,323 | $74,809 |
| Stacey Dahl | Vice President of External Affairs Officer | 40 | $251,459 | $74,333 |
| Shannon Mikula | Environmental Manager Highest-paid employee | 40 | $246,815 | $73,425 |
| Theresa Brorby | Vice President of Compliance & Risk Officer | 40 | $242,042 | $70,683 |
| Tim Hagerott | Vice President of Generation & Development Officer | 40 | $238,817 | $63,379 |
| Andrew Freidt | Senior Manager of Power Production Highest-paid employee | 40 | $239,323 | $56,796 |
15 more people on this return
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Samuel Schmitz | Senior Manager of Legal Services Highest-paid employee | 40 | $208,960 | $67,087 |
| Kasey Borboa | Senior Manager of Power Delivery Engineering Highest-paid employee | 40 | $203,612 | $65,594 |
| Neil Kramar | Plant Manager Highest-paid employee | 40 | $193,880 | $60,476 |
| Marcy Douglas | Executive VP, Chief Member Services Officer Officer | 40 | $161,548 | $7,463 |
| Mark Habedank | Board Chair Trustee or director, Officer | 6 | $42,240 | $0 |
| Kalvin Hoff | Board Member Trustee or director | 5 | $25,220 | $0 |
| Rick Coe | Board Member Trustee or director | 5 | $24,540 | $0 |
| Tom Woinarowicz | Board Vice Chair Trustee or director, Officer | 6 | $20,040 | $0 |
| Mike Wahl | Board Member Trustee or director | 5 | $19,600 | $0 |
| Colette Kujava | Board Secretary/Treasurer Trustee or director, Officer | 6 | $19,420 | $0 |
| Les Windjue | Board Member Trustee or director | 5 | $8,700 | $9,350 |
| Steve Arnesen | Board Member Trustee or director | 5 | $17,910 | $0 |
| Cheryl Grover | Board Member Trustee or director | 5 | $16,960 | $0 |
| Anthony Ottem | Board Member Trustee or director | 5 | $14,440 | $0 |
| Roger Krostue | Board Member Trustee or director | 5 | $14,170 | $0 |
990 for the year ended December 31, 2024: 27 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Robert McLennan | President & CEO Officer | 40 | $1,147,879 | $212,631 |
| Lowell Stave | Vice President and COO Officer | 40 | $440,577 | $88,631 |
| Gerad Paul | General Counsel-VP of Legal, Compliance & Risk Mgmt Officer | 40 | $387,741 | $87,631 |
| Jami Hovet | Vice President of Administration Officer | 40 | $329,123 | $84,253 |
| Kay Schraeder | Vice President and CFO Officer | 40 | $322,134 | $83,442 |
| Todd Sailer | Vice President of Power Supply Officer | 40 | $320,574 | $81,457 |
| Craig Bleth | Vice President of Project Development Officer | 40 | $314,874 | $82,573 |
| Dan Inman | Vice President and CISO Officer | 40 | $311,437 | $81,538 |
| Brendan Kennelly | Vice President of Power Delivery Officer | 40 | $298,608 | $79,235 |
| Andrew Sorbo | Vice President Strategic Initiatives Officer | 40 | $257,802 | $70,399 |
| Stacey Dahl | Vice President of External Affairs Officer | 40 | $248,807 | $72,276 |
| Shannon Mikula | Environmental Manager Highest-paid employee | 40 | $240,891 | $71,446 |
| Grant Gunderson | Senior Manager Resource Planning & Markets Highest-paid employee | 40 | $233,376 | $70,137 |
| Andrew Freidt | Senior Manager of Power Production Highest-paid employee | 40 | $227,012 | $54,895 |
| Theresa Brorby | Senior Manager of Audit & Risk Highest-paid employee | 40 | $208,464 | $66,101 |
| Tim Hagerott | Senior Manager of Generation & Development Highest-paid employee | 40 | $214,395 | $59,265 |
| Colette Kujava | Board Secretary/Treasurer Trustee or director, Officer | 5.9 | $21,890 | $0 |
| Mark Habedank | Board Chair Trustee or director, Officer | 5.9 | $18,560 | $0 |
| Rick Coe | Board Member Trustee or director | 4.7 | $17,220 | $0 |
| Tom Woinarowicz | Board Vice Chair Trustee or director, Officer | 5.9 | $16,540 | $0 |
| Les Windjue | Board Member Trustee or director | 4.7 | $1,000 | $15,420 |
| Kalvin Hoff | Board Member Trustee or director | 4.8 | $16,180 | $0 |
| Cheryl Grover | Board Member Trustee or director | 4.5 | $15,160 | $0 |
| Mike Wahl | Board Member Trustee or director | 4.7 | $13,600 | $0 |
| Steve Arnesen | Board Member Trustee or director | 4.7 | $13,200 | $0 |
| Anthony Ottem | Board Member Trustee or director | 4.7 | $10,560 | $0 |
| Roger Krostue | Board Member Trustee or director | 4.7 | $10,150 | $0 |
990 for the year ended December 31, 2023: 27 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Robert McLennan | President & CEO Officer | 40 | $1,042,101 | $209,091 |
| Lowell Stave | Vice President and COO Officer | 40 | $417,183 | $86,091 |
| Gerad Paul | General Counsel-VP of Legal, Compliance & Risk Mgmt Officer | 40 | $361,327 | $84,075 |
| Jami Hovet | Vice President of Administration Officer | 40 | $305,943 | $81,086 |
| Kay Schraeder | Vice President and CFO Officer | 40 | $298,448 | $80,090 |
| Todd Sailer | Vice President of Power Supply Officer | 40 | $291,069 | $77,920 |
| Craig Bleth | Vice President of Project Development Officer | 40 | $287,332 | $79,941 |
| Dan Inman | Vice President and CISO Officer | 40 | $280,871 | $70,608 |
| Brendan Kennelly | Vice President of Power Delivery Officer | 40 | $256,599 | $73,548 |
| Andrew Sorbo | Vice President Strategic Initiatives Officer | 40 | $231,184 | $67,030 |
| Shannon Mikula | Environmental Manager Highest-paid employee | 40 | $219,513 | $68,495 |
| Stacey Dahl | Vice President of External Affairs Officer | 40 | $219,152 | $67,957 |
| Grant Gunderson | Senior Manager Resource Planning Highest-paid employee | 40 | $211,514 | $65,957 |
| Theresa Brorby | Senior Manager of Audit & Risk Highest-paid employee | 40 | $192,356 | $64,266 |
| Andrew Freidt | Senior Manager of Power Production Highest-paid employee | 40 | $203,520 | $51,592 |
| Tim Hagerott | Senior Manager of Product Development Highest-paid employee | 40 | $198,159 | $56,721 |
| Kalvin Hoff | Board Member Trustee or director | 3.9 | $19,910 | $0 |
| Rick Coe | Board Member Institutional trustee | 3.9 | $19,280 | $0 |
| Les Windjue | Board Member Trustee or director | 3.6 | $2,000 | $17,060 |
| Mark Habedank | Board Chair Trustee or director, Officer | 3.9 | $18,640 | $0 |
| Colette Kujava | Board Secretary/Treasurer Trustee or director, Officer | 3.9 | $16,121 | $0 |
| Steve Arnesen | Board Member Trustee or director | 3.9 | $12,840 | $0 |
| Mike Wahl | Board Member Trustee or director | 3.7 | $12,100 | $0 |
| Tom Woinarowicz | Board Vice Chair Trustee or director | 3.9 | $10,950 | $0 |
| Anthony Ottem | Board Member Trustee or director | 3.9 | $10,020 | $0 |
| Roger Krostue | Board Member Trustee or director | 3.7 | $9,640 | $0 |
| Cheryl Grover | Board Member Trustee or director | 3.9 | $2,650 | $0 |
Address and contacts
- Address (IRS master file)
- 5301 32ND AVE S, GRAND FORKS, ND 58201-3312
- In care of
- % KRISTIE LANSING
- Principal officer (990 for 2025)
- Robert McLennan, 5301 32nd Avenue South, Grand Forks, ND 58201
- Signed the 990
- Robert McLennan, President & CEO
- Phone
- (701) 795-4000
- Website
- www.minnkota.com
Mission
Minnkota Power is a rural electric cooperative that generates and transmits electric power.
Program accomplishments
- Minnkota Power is a rural electric cooperative that generates and transmits electric power.
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
- 45-0166406
- Tax-exempt status
- 501(c)(12): Benevolent life insurance association or mutual company
- Donations deductible
- No
- Exempt since
- 1943
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $1,230,034,108
- Income (IRS master file)
- $486,986,596
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2025 | $486,986,596 | $477,334,362 | $1,230,034,108 | IRS |
| 990 | December 2024 | $472,008,366 | $462,753,449 | $1,191,992,873 | IRS |
| 990 | December 2023 | $449,704,391 | $436,669,776 | $1,183,715,921 | XML |
| 990 | December 2022 | $451,623,057 | $432,708,147 | $1,158,057,527 | 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 45-0166406).
Questions about MINNKOTA POWER COOPERATIVE INC
- What is the EIN of MINNKOTA POWER COOPERATIVE INC?
- The employer identification number (EIN) of MINNKOTA POWER COOPERATIVE INC is 45-0166406.
- Is MINNKOTA POWER COOPERATIVE INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(12) since 1943.
- Are donations to MINNKOTA POWER COOPERATIVE INC tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does MINNKOTA POWER COOPERATIVE INC 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 MINNKOTA POWER COOPERATIVE INC 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 MINNKOTA POWER COOPERATIVE INC 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 MINNKOTA POWER COOPERATIVE INC?
- The 990 for the year ended December 31, 2025 names Robert McLennan.
- Who are the officers and directors of MINNKOTA POWER COOPERATIVE INC?
- The 990 for the year ended December 31, 2025 lists 30 people; 30 received compensation from the organization, the highest $1,219,485 (Robert McLennan, President & CEO).
- How much revenue does MINNKOTA POWER COOPERATIVE INC have?
- On its 990 for the year ended December 31, 2025 it reported revenue of $486,986,596, expenses of $477,334,362 and total assets of $1,230,034,108 at year end.
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