Roseau Electric Cooperative Inc

Nonprofit profile at a glance

EIN
410510033
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Roseau, MN, USA
Phone
2184631543
Rating confidence
Limited

Official website

Reported finances

Revenue
$20,439,224
Expenses
$20,212,848
Assets
$46,463,378
Liabilities
$24,558,260

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

18 people listed

Executive titles in this filing

  • BRIAN GRAFSTROM (VICE PRESIDENT)
  • MARK SAX (PRESIDENT)
  • JAMES HALLAN (VICE PRESIDENT (THROUGH APRIL 2024))

Highest reported compensation

  • TRACEY STOLL (GENERAL MANAGER): $309,541 total reported compensation
  • RYAN SEVERSON (ASSISTANT MANAGER): $214,461 total reported compensation
  • MICHAEL MILLNER (LINE SUPERINTENDENT): $197,648 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Roseau electric cooperative is committed to providing its member owners low cost, high quality, safe, and reliable electricity with friendly, efficient, and knowledgeable service.

What it reported doing in 2024

The cooperative delivers electric energy to its 6,737 members. The cooperative serves 2,188 miles.

Operating model

Revenue model
Earned-program. 96% 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: 65
  • Accountability: 91
  • Sustainability: 45
  • 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; 4th percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • 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; 66th percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • 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: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 1.1%; rating input score 38; 38th percentile among comparable filings
  • Total-asset coverage ratio: 2.3; rating input score 66; 66th percentile among comparable filings
  • Liabilities to assets ratio: 0.53; rating input score 27; 27th percentile among comparable filings
  • Officer compensation ratio: 7.2%; rating input score 35; 35th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 1.6% per year; rating input score 100; 15th percentile among comparable filings
  • Asset growth: 2.1% per year; rating input score 100; 18th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 9 of 9 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $310K · 18 people listed · 1 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $481K reported
  • Consistency: 12 of 13 current checks pass · 1 finding to review
  • Schedules: 4 filed schedules · includes executive pay
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 18 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.

  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.
  • Moderate — Sustainability: Operating margin scored 38/100.
  • High — Sustainability: Liabilities to assets ratio scored 27/100.
  • Moderate — Sustainability: Officer compensation ratio scored 35/100.