Steele-waseca Cooperative Electric
Nonprofit profile at a glance
- EIN
- 410558515
- IRS 990 coverage
- 2010–2025
- Forms available
- Form 990 2025
- Location
- Owatonna, MN, USA
- Phone
- 5074517340
- Rating confidence
- Limited
Reported finances
- Revenue
- $50,967,936
- Expenses
- $50,967,936
- Assets
- $123,264,557
- Liabilities
- $67,300,910
Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.
Leadership & pay
18 people listed
Executive titles in this filing
- RODNEY D KRELL (PRESIDENT)
Highest reported compensation
- SYDNEY R BRIGGS (GENERAL MANAGER): $349,372 total reported compensation
- JON P STELTER (FINANCE MANAGER): $321,545 total reported compensation
- DAN H MEIER (OPERATIONS MANAGER): $258,603 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
The mission of steele-waseca cooperative electric is to provide competitive, reliable quality service to our membership.
What it reported doing in 2025
Sale of electricity to members.
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: 71
- Accountability: 100
- Sustainability: 36
- 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; 66th 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: Limited
- Major donor itemization: Limited
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 65th 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 23; 23rd percentile among comparable filings
- Total-asset coverage ratio: 2.42; rating input score 58; 58th percentile among comparable filings
- Liabilities to assets ratio: 0.55; rating input score 37; 37th percentile among comparable filings
- Officer compensation ratio: 4.1%; rating input score 29; 29th percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: 3.9% per year; rating input score 100; 33rd percentile among comparable filings
- Asset growth: 4.8% per year; rating input score 100; 34th 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 · 9 of 9 filing controls reported
- Programs: 1 filed program accomplishment
- Leadership: top reported pay $349K · 18 people listed · 2 of 6 pay-setting controls reported
- Highest-paid contractors: 5 contractors listed · $2.5M reported
- Consistency: 12 of 12 current checks pass
- Schedules: 3 filed schedules · includes executive pay
- Filing history: 15 filing years from 2010 to 2025
- Contacts: How to reach this organization
- Money network: 18 filed money-flow records
- Related organizations: Filed and resolved organization relationships.
- 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.
- High — Sustainability: Operating margin scored 23/100.
- Review — Sustainability: Total-asset coverage ratio scored 58/100.
- High — Sustainability: Officer compensation ratio scored 29/100.
- Moderate — Sustainability: Liabilities to assets ratio scored 37/100.