Nonprofit · EIN 41-0223597
RUNESTONE ELECTRIC ASSOCIATION
Tax-exempt · ALEXANDRIA, MN 56308
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2025 | 990 | $37,517,813 | $37,517,813 | $0 | $111,530,102 | $67,624,642 | $43,905,460 |
| December 31, 2024 | 990 (amended) | $33,444,294 | $33,444,294 | $0 | $108,251,306 | $66,989,893 | $41,261,413 |
| December 31, 2023 | 990 | $32,966,732 | $32,966,732 | $0 | $103,047,892 | $63,177,763 | $39,870,129 |
Financial details: 990 for the year ended December 31, 2025
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $35,098,094
- Investment income
- $2,374,709
- Net rental income
- $1,889
- Net gain from sales of assets
- $11,844
- Other revenue
- $45,010
Expenses
- Grants and similar amounts paid
- $0
- Benefits paid to members
- $3,771,165
- Compensation of officers, directors and key employees
- $828,799
- Other salaries and wages
- $2,134,313
- Salaries, compensation and benefits (total)
- $2,963,112
- Professional fundraising fees
- $0
- Depreciation
- $4,549,025
Balance sheet and other
- Total assets, start of year
- $108,251,306
- Total assets, end of year
- $111,530,102
- Total liabilities, end of year
- $67,624,642
- Net assets, end of year
- $43,905,460
- Land, buildings and equipment
- $85,522,563
- Gross unrelated business income
- $42,938
- Gross receipts
- $37,521,967
- Employees
- 38
- Volunteers
- 0
- Year formed
- 1935
- State of legal domicile
- MN
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 for the year ended December 31, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Alan Haman | CEO Officer | 42 | $302,713 | $196,076 |
| Janet Nelson | Manager of Finance Officer | 45 | $162,495 | $110,965 |
| Susan Lundeen | Manager of Member Services Highest-paid employee | 42 | $147,044 | $105,956 |
| David Jablonski | Line Superintendent Highest-paid employee | 45 | $137,716 | $107,568 |
| Ryan Rooney | Energy Services & Business Development Manager Highest-paid employee | 42 | $144,059 | $62,096 |
| Susan Gibbons | Network & IT Administrator Highest-paid employee | 47 | $144,334 | $50,821 |
| Kyle Blade | Journeyman Lineman Highest-paid employee | 43 | $125,000 | $26,183 |
| Michael Loken | Director Trustee or director | 7.1 | $9,400 | $0 |
| Joel Seela | Director Trustee or director | 3.3 | $8,400 | $0 |
| David Staples | Director Trustee or director | 3.3 | $8,400 | $0 |
| Barbara Johnson | Director Trustee or director | 5.5 | $8,350 | $0 |
| Gary Anderson | Director Trustee or director | 6.5 | $7,850 | $0 |
| Matthew Mattson | Director Trustee or director | 3.3 | $7,450 | $0 |
| Jon Winter | Director Trustee or director | 2.8 | $6,700 | $0 |
990 for the year ended December 31, 2024: 14 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Alan Haman | CEO Officer | 42 | $291,678 | $150,156 |
| Janet Nelson | Manager of Finance Officer | 44 | $155,967 | $80,365 |
| Susan Lundeen | Manager of Member Services Highest-paid employee | 43 | $139,474 | $85,052 |
| David Jablonski | Line Superintendent Highest-paid employee | 45 | $132,486 | $86,881 |
| Ryan Rooney | Energy Services & Business Development Manager Highest-paid employee | 44 | $138,232 | $49,825 |
| Susan Gibbons | Network & IT Administrator Highest-paid employee | 46 | $135,541 | $43,893 |
| Kyle Blade | Journeyman Lineman Highest-paid employee | 48 | $131,040 | $25,344 |
| Joel Seela | Director Trustee or director | 6 | $8,450 | $0 |
| Michael Loken | Director Trustee or director | 4.4 | $7,700 | $0 |
| David Staples | Director Trustee or director | 4 | $7,300 | $0 |
| Barbara Johnson | Director Trustee or director | 6.6 | $7,250 | $0 |
| Gary Anderson | Director Trustee or director | 4 | $7,050 | $0 |
| Matthew Mattson | Director Trustee or director | 3.1 | $5,700 | $0 |
| Audrey Hjelle | Director Trustee or director | 2 | $1,900 | $0 |
990 for the year ended December 31, 2023: 15 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Alan Haman | CEO Officer | 42 | $269,955 | $149,082 |
| Janet Nelson | Manager of Finance Officer | 44 | $143,873 | $79,406 |
| Susan Lundeen | Manager of Member Services Highest-paid employee | 43 | $135,764 | $84,582 |
| David Jablonski | Line Superintendent Highest-paid employee | 45 | $127,781 | $86,119 |
| Susan Gibbons | Network & IT Administrator Highest-paid employee | 50 | $141,696 | $42,879 |
| Ryan Rooney | Energy Services & Business Development Manager Highest-paid employee | 40 | $131,945 | $48,959 |
| Tyler Doherty | Journeyman Lineman Highest-paid employee | 44 | $117,358 | $34,389 |
| David Staples | Director Trustee or director | 4 | $7,750 | $0 |
| Barbara Johnson | Director Trustee or director | 6 | $7,500 | $0 |
| Gary Anderson | Director Trustee or director | 4 | $7,250 | $0 |
| Michael Loken | Director Trustee or director | 3 | $6,300 | $0 |
| Matthew Mattson | Director Trustee or director | 2 | $4,400 | $0 |
| Audrey Hjelle | Director Trustee or director | 3 | $4,050 | $0 |
| Joel Seela | Director Trustee or director | 6 | $3,350 | $0 |
| Clifford Patrick | Director Trustee or director | 7 | $2,000 | $0 |
Address and contacts
- Address (IRS master file)
- 6839 POWER LN SW, ALEXANDRIA, MN 56308-4410
- Principal officer (990 for 2025)
- Alan Haman, 6839 Power Lane SW, Alexandria, MN 56308
- Signed the 990
- Janet Nelson, Mgr Finance
- Phone
- (320) 762-1121
- Website
- www.runestoneelectric.com
Mission
To serve our members with safe, reliable and affordable electricity.
Program accomplishments
- Sales and distribution of electricity to 15,542 residential, seasonal, and commercial accounts.
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 | 990 on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 41-0223597
- Tax-exempt status
- 501(c)(12): Benevolent life insurance association or mutual company
- Donations deductible
- No
- Exempt since
- 1937
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $111,530,102
- Income (IRS master file)
- $37,521,967
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2025 | $37,517,813 | $37,517,813 | $111,530,102 | IRS |
| 990 | December 2024 | $33,444,294 | $33,444,294 | $108,251,306 | XML |
| 990 | December 2023 | $32,966,732 | $32,966,732 | $103,047,892 | XML |
| 990 | December 2022 | $31,843,187 | $31,843,187 | $102,638,988 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
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 41-0223597).
Questions about RUNESTONE ELECTRIC ASSOCIATION
- What is the EIN of RUNESTONE ELECTRIC ASSOCIATION?
- The employer identification number (EIN) of RUNESTONE ELECTRIC ASSOCIATION is 41-0223597.
- Is RUNESTONE ELECTRIC ASSOCIATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(12) since 1937.
- Are donations to RUNESTONE ELECTRIC ASSOCIATION tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does RUNESTONE ELECTRIC ASSOCIATION 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 RUNESTONE ELECTRIC ASSOCIATION due?
- The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did RUNESTONE ELECTRIC ASSOCIATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2025.
- Who is the principal officer of RUNESTONE ELECTRIC ASSOCIATION?
- The 990 for the year ended December 31, 2025 names Alan Haman.
- Who are the officers and directors of RUNESTONE ELECTRIC ASSOCIATION?
- The 990 for the year ended December 31, 2025 lists 14 people; 14 received compensation from the organization, the highest $302,713 (Alan Haman, CEO).
- How much revenue does RUNESTONE ELECTRIC ASSOCIATION have?
- On its 990 for the year ended December 31, 2025 it reported revenue of $37,517,813, expenses of $37,517,813 and total assets of $111,530,102 at year end.
Other nonprofits in ALEXANDRIA
- KNUTE NELSON EIN 41-1263433 · last filed 990 for 2024
- WALKER METHODIST EIN 41-1916102 · last filed 990 for 2024
- WALKER ASSISTED LIVING CORP I EIN 41-1673628 · last filed 990 for 2024
- WEST CENTAL DENTAL RESOURCES INC EIN 20-2417571 · last filed 990 for 2025
- HEARTLAND INDUSTRIES OF DAWSON INC EIN 41-1666451 · last filed 990 for 2024
- ALEXANDRIA AREA YOUNG MENS CHRISTIAN ASSOCIATION EIN 20-2231427 · last filed 990 for 2025
- WALKER RESIDENCE INC EIN 41-1443583 · last filed 990 for 2024
- ALEXANDRIA TECHNICAL & COMMUNITY COLLEGE FOUNDATION EIN 41-1272662 · last filed 990 for 2025