Nonprofit · EIN 20-5114301
LAKE REGION ELECTRIC TRUST
Tax-exempt · PEL RAPIDS, MN 56572
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990-EZ | $149,723 | $162,435 | -$12,712 | $224,393 | $5,000 | $219,393 |
| December 31, 2023 | 990-EZ | $141,777 | $113,110 | $28,667 | $232,105 | $0 | $232,105 |
Financial details: 990-EZ for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $149,723
Expenses
- Grants and similar amounts paid
- $154,850
- Compensation of officers, directors and key employees
- $0
- Professional fees and payments to contractors
- $6,979
- Printing, publications and postage
- $227
- Other expenses
- $379
- Program services (functional)
- $154,850
Balance sheet and other
- Total assets, start of year
- $232,105
- Total assets, end of year
- $224,393
- Total liabilities, end of year
- $5,000
- Net assets, end of year
- $219,393
- Cash, savings and investments
- $223,768
- Gross receipts
- $149,723
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990-EZ for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| DENISE LAYMON | TRUSTEE | 0.9 | $0 |
| KRISTIE PARTAIN | TRUSTEE | 0.9 | $0 |
| NICK MURDOCK | TRUSTEE | 0.9 | $0 |
| DUANE HANSON | TRUSTEE | 0.9 | $0 |
| HAROLD STANISLAWSKI | TRUSTEE | 0.9 | $0 |
| PATTY JOHNSON | CHAIR | 0.9 | $0 |
| POLLY REITAN | TREASURER | 0.9 | $0 |
| RUTH VETTER | SECRETARY | 0.9 | $0 |
| KAREN HART | VICE CHAIR | 0.9 | $0 |
| TIFFINI DANKERT | RECORDING SECRETARY | 0.9 | $0 |
| AMANDA FULLER | EXECUTIVE DIRECTOR | 0.9 | $0 |
990-EZ for the year ended December 31, 2023: 12 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| DENISE LAYMON | TRUSTEE | 0.9 | $0 |
| KRISTIE PARTAIN | TRUSTEE | 0.9 | $0 |
| TEX LARSON | TRUSTEE | 0.9 | $0 |
| NICK MURDOCK | TRUSTEE | 0.9 | $0 |
| KAREN HART | TRUSTEE | 0.9 | $0 |
| PATTY JOHNSON | CHAIR | 0.9 | $0 |
| DON DAVENPORT | VICE CHAIR | 0.9 | $0 |
| POLLY REITAN | TREASURER | 0.9 | $0 |
| RUTH VETTER | SECRETARY | 0.9 | $0 |
| AMANDA FULLER | EXECUTIVE DIRECTOR (STARTED 9/23) | 0.9 | $0 |
| TIFFINI DANKERT | RECORDING SECRETARY | 0.9 | $0 |
| THERESA HALVERSON | EXECUTIVE DIRECTOR (THRU 9/23) | 0.9 | $0 |
Address and contacts
- Address (IRS master file)
- PO BOX 643, PEL RAPIDS, MN 56572-0643
- In care of
- % KAY PERRIN
- Mailing address (990-N for 2016)
- PO BOX 643, PELICAN RAPIDS MN 56572
- Principal officer (990-N for 2016)
- TIM THOMPSON, PO BOX 643, PELICAN RAPIDS MN 56572
- Signed the 990-EZ
- PATTY JOHNSON, BOARD CHAIR
- Phone
- (218) 863-1171
- Website
- WWW.LREC.COOP
- Return prepared by
- BRADY MARTZ & ASSOCIATES PC
Mission
THIS CORPORATION IS ORGANIZED EXCLUSIVELY FOR CHARITABLE, EDUCATIONAL, AND OTHER PURPOSES AS SPECIFIED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, INCLUDING FOR SUCH PURPOSES, THE MAKING OF DISTRIBUTIONS TO ORGANIZATIONS THAT QUALIFY AS EXEMPT ORGANIZATIONS UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, OR THE CORRESPONDING SECTION OF ANY FEDERAL TAX CODE.
Program accomplishments
- THE GENERAL PURPOSE OF THIS CORPORATION SHALL BE TO ADVANCE, PROMOTE, ENHANCE, AND ENGAGE IN CHARITABLE AND EDUCATIONAL PURPOSES, PRIMARILY IN THE AREA SERVED BY LAKE REGION ELECTRIC COOPERATIVE, PELICAN RAPIDS, MINNESOTA, WHICH WILL INCLUDE:THE ACCUMULATION AND DISBURSEMENTS OF FUNDS FOR CHARITABLE AND EDUCATIONAL PURPOSES, INCLUDING EMERGENCY ENERGY ASSISTANCE. TO CARRY ON ANY AND ALL ACTIVITIES PERMITTED TO BE CARRIED ON BY A NON-PROFIT CORPORATION UNDER THE STATE LAWS OF MINNESOTA AND THE FEDERAL LAWS OF THE UNITED STATES. TO MAKE DISTRIBUTIONS TO ORGANIZATIONS THAT QUALIFY AS EXEMPT ORGANIZATIONS UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, OR CORRESPONDING SECTION OF ANY FUTURE FEDERAL TAX CODE.$2,500 OF SERVICES WERE DONATED BY LAKE REGION ELECTRIC COOPERATIVE DURING THE TAX YEAR.Expenses $154,850 · grants $154,850
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990-EZ on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990-EZ on file |
IRS record
- EIN
- 20-5114301
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2010
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Philanthropy, voluntarism and grantmaking foundations (T31)
- Assets (IRS master file)
- $224,393
- Income (IRS master file)
- $149,723
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990-EZ | December 2024 | $149,723 | $162,435 | $224,393 | XML |
| 990-EZ | December 2023 | $141,777 | $113,110 | $232,105 | XML |
| 990-EZ | December 2022 | – | – | – | IRS |
| 990-EZ | December 2021 | – | – | – | IRS |
| 990-EZ | December 2020 | – | – | – | IRS |
| 990-EZ | December 2018 | – | – | – | IRS |
| 990-N for 2016 Officer: TIM THOMPSON | December 31, 2016 | ≤ $50,000 receipts | – | – | e-Postcard |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 20-5114301).
Questions about LAKE REGION ELECTRIC TRUST
- What is the EIN of LAKE REGION ELECTRIC TRUST?
- The employer identification number (EIN) of LAKE REGION ELECTRIC TRUST is 20-5114301.
- Is LAKE REGION ELECTRIC TRUST tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2010.
- Are donations to LAKE REGION ELECTRIC TRUST tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does LAKE REGION ELECTRIC TRUST file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of LAKE REGION ELECTRIC TRUST due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did LAKE REGION ELECTRIC TRUST last file with the IRS?
- The latest return in the IRS public files is the 990-EZ for the year ended December 2024.
- Who is the principal officer of LAKE REGION ELECTRIC TRUST?
- The 990-N for 2016 names TIM THOMPSON.
- Who are the officers and directors of LAKE REGION ELECTRIC TRUST?
- The 990-EZ for the year ended December 31, 2024 lists 11 people; 0 received compensation from the organization.
- How much revenue does LAKE REGION ELECTRIC TRUST have?
- On its 990-EZ for the year ended December 31, 2024 it reported revenue of $149,723, expenses of $162,435 and total assets of $224,393 at year end.
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- PELICAN RAPIDS COMMUNITY FOOD SHELF INC EIN 41-1591403 · last filed 990 for 2024
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All nonprofits in PEL RAPIDS · Minnesota · Philanthropy, voluntarism and grantmaking foundations