Nonprofit · EIN 45-0172533
NODAK ELECTRIC 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 | $147,271,424 | $145,472,168 | $1,799,256 | $182,450,195 | $107,510,989 | $74,939,206 |
| December 31, 2024 | 990 | $139,970,585 | $138,254,060 | $1,716,525 | $177,299,391 | $104,537,723 | $72,761,668 |
| December 31, 2023 | 990 | $137,633,929 | $135,291,143 | $2,342,786 | $171,041,522 | $100,143,341 | $70,898,181 |
Financial details: 990 for the year ended December 31, 2025
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $144,960,845
- Investment income
- $789,211
- Net income from sales of inventory
- $58,118
- Other revenue
- $1,521,368
Expenses
- Grants and similar amounts paid
- $0
- Benefits paid to members
- $3,702,691
- Compensation of officers, directors and key employees
- $0
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
- Depreciation
- $5,022,013
- Program services (functional)
- $145,472,168
Balance sheet and other
- Total assets, start of year
- $177,299,391
- Total assets, end of year
- $182,450,195
- Total liabilities, end of year
- $107,510,989
- Net assets, end of year
- $74,939,206
- Land, buildings and equipment
- $116,436,755
- Gross receipts
- $147,341,443
- Employees
- 72
- Volunteers
- 0
- Year formed
- 1939
- State of legal domicile
- ND
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 |
|---|---|---|---|---|
| Mylo Einarson | President/CEO Highest-paid employee | 50 | $350,879 | $97,858 |
| Blaine Rekken | Customer and Energy Services Manager Key employee | 40 | $155,382 | $75,629 |
| Jay Raymond | Line Superintendant Key employee | 40 | $160,793 | $68,172 |
| Cole Johnson | Engineering Manager Key employee | 40 | $148,137 | $55,235 |
| Andrew Peterson | Accounting and Finance Manager Key employee | 40 | $135,171 | $44,419 |
| David Brag | Director Trustee or director | 4 | $16,200 | $0 |
| Cheryl Osowski | Director Trustee or director | 12 | $14,250 | $0 |
| Pete Naastad | Director Trustee or director | 4 | $14,100 | $0 |
| Steve Smaaladen | Vice Chairman Trustee or director, Officer | 6 | $13,800 | $0 |
| Luther Meberg | Director Trustee or director | 12 | $13,650 | $0 |
| Ryan Benson | Secretary / Treasurer Trustee or director, Officer | 20 | $13,650 | $0 |
| Les Windjue | Chairman Trustee or director, Officer | 5 | $12,600 | $0 |
| David Kent | Director Trustee or director | 10 | $12,300 | $0 |
| David Hagert | Director Trustee or director, Former | 3 | $7,900 | $0 |
| Luke Ressler | Director Trustee or director | 20 | $5,300 | $0 |
990 for the year ended December 31, 2024: 14 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Mylo Einarson | President/CEO Highest-paid employee | 50 | $323,112 | $90,321 |
| Tom Edwards | Accounting and Finance Manager Key employee | 40 | $160,706 | $76,628 |
| Blaine Rekken | Customer and Energy Services Manager Key employee | 40 | $149,752 | $73,293 |
| Dan Schaefer | Line Superintendant Key employee | 40 | $158,279 | $63,080 |
| Cole Johnson | Engineering Manager Key employee | 40 | $135,921 | $51,947 |
| David Brag | Secretary Treasurer Trustee or director, Officer | 4 | $17,400 | $0 |
| Luther Meberg | Chairman Trustee or director, Officer | 12 | $17,400 | $0 |
| Pete Naastad | Director Trustee or director | 4 | $15,000 | $0 |
| David Hagert | Director Trustee or director | 3 | $14,250 | $0 |
| Cheryl Osowski | Director Trustee or director | 10 | $13,650 | $0 |
| Steve Smaaladen | Director Trustee or director | 4 | $13,200 | $0 |
| Ryan Benson | Director Trustee or director | 17 | $12,600 | $0 |
| David Kent | Director Trustee or director | 10 | $12,250 | $0 |
| Les Windjue | Vice Chairman Trustee or director, Officer | 5 | $12,150 | $0 |
990 for the year ended December 31, 2023: 15 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Mylo Einarson | President/CEO Highest-paid employee | 50 | $301,859 | $78,766 |
| Tom Edwards | Accounting and Finance Manager Key employee | 40 | $155,298 | $72,960 |
| Blaine Rekken | Customer and Energy Services Manager Key employee | 40 | $144,555 | $70,456 |
| Dan Schaefer | Line Superintendant Key employee | 40 | $153,633 | $60,504 |
| Steve Breidenbach | Engineering Manager Key employee, Former | 40 | $119,289 | $51,290 |
| Cole Johnson | Engineering Manager Key employee | 40 | $119,866 | $42,527 |
| David Brag | Secretary Treasurer Trustee or director, Officer | 4 | $17,850 | $0 |
| Luther Meberg | Chairman Trustee or director, Officer | 12 | $17,550 | $0 |
| Pete Naastad | Director Trustee or director | 4 | $15,900 | $0 |
| Steve Smaaladen | Director Trustee or director | 4 | $14,100 | $0 |
| Cheryl Osowski | Director Trustee or director | 12 | $13,950 | $0 |
| David Kent | Director Trustee or director | 10 | $13,050 | $0 |
| Ryan Benson | Director Trustee or director | 15 | $12,750 | $0 |
| Les Windjue | Vice Chairman Trustee or director, Officer | 5 | $11,700 | $0 |
| David Hagert | Director Trustee or director | 3 | $11,400 | $0 |
Address and contacts
- Address (IRS master file)
- 4000 32ND AVE S, GRAND FORKS, ND 58201-5944
- Principal officer (990 for 2025)
- Andrew Peterson, 4000 32nd Ave S, Grand Forks, ND 58201
- Signed the 990
- Andrew Peterson, Acctg. and Finance Mgr
- Phone
- (701) 746-4461
- Website
- www.nodakelectric.com
Mission
Rural Electric Cooperative serving 20000+ accounts in Northeastern ND
Program accomplishments
- Power cost expense to provide electricity to 20,000 accountsExpenses $123,429,928 · revenue $147,271,424
- Depreciation expense to provide electric service to 20,000 accountsExpenses $5,022,013 · revenue $147,271,424
- Interest expense to provide electric service to 20,000 accountsExpenses $2,391,036 · revenue $147,271,424
- Other program services to provide electric service to 20,000 accounts.Expenses $14,629,191 · revenue $147,271,424
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
- 45-0172533
- Tax-exempt status
- 501(c)(12): Benevolent life insurance association or mutual company
- Donations deductible
- No
- Exempt since
- 1942
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $182,450,195
- Income (IRS master file)
- $147,341,443
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2025 | $147,271,424 | $145,472,168 | $182,450,195 | XML |
| 990 | December 2024 | $139,970,585 | $138,254,060 | $177,299,391 | XML |
| 990 | December 2023 | $137,633,929 | $135,291,143 | $171,041,522 | XML |
| 990 | December 2022 | $144,951,964 | $141,889,868 | $167,870,496 | 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 45-0172533).
Questions about NODAK ELECTRIC COOPERATIVE INC
- What is the EIN of NODAK ELECTRIC COOPERATIVE INC?
- The employer identification number (EIN) of NODAK ELECTRIC COOPERATIVE INC is 45-0172533.
- Is NODAK ELECTRIC COOPERATIVE INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(12) since 1942.
- Are donations to NODAK ELECTRIC COOPERATIVE INC tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does NODAK ELECTRIC 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 NODAK ELECTRIC 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 NODAK ELECTRIC 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 NODAK ELECTRIC COOPERATIVE INC?
- The 990 for the year ended December 31, 2025 names Andrew Peterson.
- Who are the officers and directors of NODAK ELECTRIC COOPERATIVE INC?
- The 990 for the year ended December 31, 2025 lists 15 people; 15 received compensation from the organization, the highest $350,879 (Mylo Einarson, President/CEO).
- How much revenue does NODAK ELECTRIC COOPERATIVE INC have?
- On its 990 for the year ended December 31, 2025 it reported revenue of $147,271,424, expenses of $145,472,168 and total assets of $182,450,195 at year end.
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