Connexus Energy
Nonprofit profile at a glance
- EIN
- 410128105
- IRS 990 coverage
- 2010–2024
- Forms available
- Form 990 2024
- Location
- Ramsey, MN, USA
- Phone
- 7633232600
- Rating confidence
- Limited
Reported finances
- Revenue
- $258,953,092
- Expenses
- $258,953,092
- Assets
- $493,777,555
- Liabilities
- $267,895,764
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
23 people listed
Executive titles in this filing
- GREG RIDDERBUSCH (PRESIDENT/CEO UNTIL 03/2024)
- BRIAN BURANDT (PRESIDENT/CEO)
- SIDNEY JACKSON (PRESIDENT AND CEO 03/2024-06/2024)
Highest reported compensation
- GREG RIDDERBUSCH (PRESIDENT/CEO UNTIL 03/2024): $557,796 total reported compensation
- YAN PAUL MARTINEZ (VP/CFO): $512,051 total reported compensation
- BRIAN BURANDT (PRESIDENT/CEO): $478,400 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Connexus energy serves our membership by providing cost competitive, reliable electricity and related services, with an environmental commitment, affirming the value of member cooperative ownership.
What it reported doing in 2024
Connexus energy provided utility services to approximately 147,624 members in eight counties in the north suburban area of minneapolis and st. Paul, mn and maintained 9,640 miles of lines.
Operating model
- Revenue model
- Other-operating. 98% of the money available for current operations came from other operating 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: 91
- Accountability: 100
- Sustainability: 42
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: Limited
- Program expense ratio: Limited
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 68th percentile among comparable filings
- Pay-setting controls: 4 of 6 controls in place; rating input score 67
- Compensation committee: Pass
- Independent consultant: Missing
- Other Form 990s reviewed: Pass
- Written employment contract: Missing
- Compensation survey or study: Pass
- Board or committee approval: Pass
- Foreign activity oversight: Limited
- Grant itemization coverage: 100%; rating input score 100; 77th percentile among comparable filings
- Major donor itemization: Limited
- Related-party transparency: Yes; rating input score 100
Accountability
- Independent voting board: 100%; rating input score 100; 77th percentile among comparable filings
- Governance controls: 9 of 9 controls in place; rating input score 100
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: Pass
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 0%; rating input score 29; 29th percentile among comparable filings
- Total-asset coverage ratio: 1.91; rating input score 62; 62nd percentile among comparable filings
- Liabilities to assets ratio: 0.54; rating input score 33; 33rd percentile among comparable filings
- Officer compensation ratio: 2%; rating input score 56; 56th percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: 0.5% per year; rating input score 100; 7th percentile among comparable filings
- Asset growth: 3.2% per year; rating input score 100; 22nd percentile among comparable filings
Details
- Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
- Governance: 8 of 8 board members independent · 9 of 9 filing controls reported
- Programs: 1 filed program accomplishment
- Leadership: top reported pay $558K · 23 people listed · 4 of 6 pay-setting controls reported
- Highest-paid contractors: 5 contractors listed · $13.9M reported
- Consistency: 14 of 14 current checks pass
- Schedules: 5 filed schedules · includes grants, executive pay, and related organizations
- Filing history: 15 filing years from 2010 to 2024
- Contacts: How to reach this organization
- Money network: 24 filed money-flow records
- Related organizations: 2 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.
- Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- High — Sustainability: Operating margin scored 29/100.
- Moderate — Sustainability: Liabilities to assets ratio scored 33/100.
- Review — Sustainability: Officer compensation ratio scored 56/100.