McLeod Cooperative Power
Legal name: Mcleod Cooperative Power Association
Nonprofit profile at a glance
- EIN
- 410403745
- IRS 990 coverage
- 2015–2025
- Official website data refreshed
- Sep 2026
- Forms available
- Form 990 2025
- Location
- Glencoe, MN, US
- Phone
- 320.864.3148
- Rating confidence
- Limited
Reported finances
- Revenue
- $26,598,923
- Expenses
- $26,258,179
- Assets
- $88,939,034
- Liabilities
- $55,379,474
Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.
Leadership & pay
17 people listed
Executive titles in this filing
- DOUG KIRTZ (PRESIDENT)
- DAVID RESCH (VICE PRESIDENT)
- RONALD MEIER (CEO)
Highest reported compensation
- RONALD MEIER (CEO): $292,042 total reported compensation
- TERRY UNDERDAHL (LINE FOREMAN): $226,363 total reported compensation
- CRAIG MARTI (LINE FOREMAN): $210,219 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
McLeod Cooperative Power is an equal opportunity employer and provider.
What it reported doing in 2025
Provided electric service to an average of 6,021 members in 2025. We had a decrease of 4 miles of line during 2025. The cooperative has 2,035 miles of distribution line as of december 31, 2025.
Operating model
- Revenue model
- Earned-program. 93% 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: 76
- Accountability: 100
- Sustainability: 43
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: Limited
- Program expense ratio: Limited
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 90.9%; rating input score 91; 7th percentile among comparable filings
- Pay-setting controls: 3 of 6 controls in place; rating input score 50
- Compensation committee: Missing
- Independent consultant: Pass
- 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: Limited
- Major donor itemization: Limited
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 64th 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: 1.3%; rating input score 30; 30th percentile among comparable filings
- Total-asset coverage ratio: 3.39; rating input score 70; 70th percentile among comparable filings
- Liabilities to assets ratio: 0.62; rating input score 18; 18th percentile among comparable filings
- Officer compensation ratio: 5.9%; rating input score 51; 51st percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: 1.8% per year; rating input score 100; 13th percentile among comparable filings
- Asset growth: 3.8% per year; rating input score 100; 25th percentile among comparable filings
Details
- What they do: 7 programs and campaigns described on the official site · 3 operating locations identified
- Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
- Governance: 9 of 9 board members independent · 9 of 9 filing controls reported
- Programs: 1 filed program accomplishment
- Leadership: top reported pay $292K · 17 people listed · 3 of 6 pay-setting controls reported
- Highest-paid contractors: 3 contractors listed · $1.3M reported
- Consistency: 12 of 13 current checks pass · 1 finding to review
- Schedules: 4 filed schedules · includes executive pay
- Filing history: 11 filing years from 2015 to 2025
- Contacts: How to reach this organization
- Money network: 17 filed money-flow records
- Related organizations: 1 filed related-organization link
- 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.
- Moderate — Sustainability: Operating margin scored 30/100.
- Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.
- High — Sustainability: Liabilities to assets ratio scored 18/100.
- Review — Sustainability: Officer compensation ratio scored 51/100.