Beltrami Electric Cooperative
Legal name: Beltrami Electric Cooperative Inc
Nonprofit profile at a glance
- EIN
- 410144943
- IRS 990 coverage
- 2010–2024
- Official website data refreshed
- Sep 2026
- Forms available
- Form 990 2024
- Location
- Bemidji, MN, US
- Phone
- 218-444-2540
- Rating confidence
- Limited
Reported finances
- Revenue
- $61,294,466
- Expenses
- $60,389,722
- Assets
- $139,080,509
- Liabilities
- $86,965,990
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
16 people listed
Executive titles in this filing
- JARED ECHTERNACH (CEO)
Highest reported compensation
- JARED ECHTERNACH (CEO): $446,380 total reported compensation
- ARLENE HOGQUIST (DIRECTOR OF FINANCE & CORPORATE SERVICES): $347,637 total reported compensation
- LEE PEMBERTON (MANAGER OF OPERATIONS): $249,138 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
To provide reliable, affordable electricity and energy services to our members.
What it reported doing in 2024
Provided energy to 18,520 members and 22,512 customers.
Operating model
- Revenue model
- Earned-program. 98% of the money available for current operations came from fees and other program revenue.
- Distribution model
- Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.
The verdict
- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.
Rating breakdown
- Financial Efficiency: NotEnoughData
- Transparency & Controls: 69
- Accountability: 83
- Sustainability: 46
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: Limited
- Program expense ratio: Limited
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 90%; rating input score 90; 4th percentile among comparable filings
- Pay-setting controls: 2 of 6 controls in place; rating input score 33
- Compensation committee: Missing
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Missing
- Compensation survey or study: Pass
- Board or committee approval: Pass
- Foreign activity oversight: Limited
- Grant itemization coverage: 58.6%; rating input score 59; 12th percentile among comparable filings
- Major donor itemization: Limited
- Related-party transparency: Yes; rating input score 100
Accountability
- Independent voting board: 77.8%; rating input score 78; 26th percentile among comparable filings
- Governance controls: 8 of 9 controls in place; rating input score 89
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: Fail
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 1.5%; rating input score 40; 40th percentile among comparable filings
- Total-asset coverage ratio: 2.3; rating input score 68; 68th percentile among comparable filings
- Liabilities to assets ratio: 0.63; rating input score 27; 27th percentile among comparable filings
- Officer compensation ratio: 3.3%; rating input score 33; 33rd percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: 2.6% per year; rating input score 100; 18th percentile among comparable filings
- Asset growth: 2% per year; rating input score 100; 15th percentile among comparable filings
Details
- What they do: 5 programs and campaigns described on the official site · 1 operating location identified
- Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
- Governance: 7 of 9 board members independent · 8 of 9 filing controls reported
- Programs: 1 filed program accomplishment
- Leadership: top reported pay $446K · 16 people listed · 2 of 6 pay-setting controls reported
- Highest-paid contractors: 2 contractors listed · $1.2M reported
- Consistency: 11 of 12 current checks pass · 1 finding to review
- Schedules: 6 filed schedules · includes grants, executive pay, and related organizations
- Filing history: 14 filing years from 2010 to 2024
- Contacts: How to reach this organization
- Money network: 17 filed money-flow records
- Related organizations: 4 filed related-organization links
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- Review — Transparency & Controls: Grant itemization coverage scored 59/100.
- Moderate — Sustainability: Operating margin scored 40/100.
- Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
- Review — Accountability: Governance controls: Other executive compensation review process not reported.
- High — Sustainability: Liabilities to assets ratio scored 27/100.
- Moderate — Sustainability: Officer compensation ratio scored 33/100.