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Nonprofit · EIN 41-0419129

MINNESOTA VALLEY COOPERATIVE LIGHT AND POWER ASSOCIATION

Tax-exempt · MONTEVIDEO, MN 56265

Financials

$25.7M$26M2023$26M$25.3M2024$29.1M$29.3M2025
Revenue Expenses · by fiscal year end
Financials of MINNESOTA VALLEY COOPERATIVE LIGHT AND POWER ASSOCIATION by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2025990$29,138,552$29,291,825-$153,273$106,148,192$69,460,462$36,687,730
December 31, 2024990$26,016,362$25,343,416$672,946$101,109,680$65,817,111$35,292,569
December 31, 2023990$25,650,557$26,043,792-$393,235$95,415,919$62,163,662$33,252,257
Financial details: 990 for the year ended December 31, 2025

Revenue

Contributions, gifts and grants
$0
Program service revenue
$26,991,688
Investment income
$750,429
Net gain from sales of assets
$52,605
Net income from sales of inventory
$96,993
Other revenue
$1,396,435

Expenses

Grants and similar amounts paid
$53
Benefits paid to members
$3,361,018
Compensation of officers, directors and key employees
$1,215,523
Salaries, compensation and benefits (total)
$1,215,523
Professional fundraising fees
$0
Depreciation
$2,964,434

Balance sheet and other

Total assets, start of year
$101,109,680
Total assets, end of year
$106,148,192
Total liabilities, end of year
$69,460,462
Net assets, end of year
$36,687,730
Land, buildings and equipment
$77,327,562
Gross unrelated business income
$446,900
Gross receipts
$30,060,364
Employees
33
Volunteers
0
Year formed
1938
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.

NameTitleHours / weekCompensationOther / benefits
PATRICK CARRUTHGENERAL MANAGER
Officer
40$551,452$278,402
SCOTT KUBESHMEMBER SERVICES MANAGER
Highest-paid employee
40$166,685$131,101
TODD BOLKEMAENGINEERING AND OPERATIONS MANAGER
Highest-paid employee
40$201,088$57,807
JILL ROTHSCHADLOFFICE MANAGER
Officer
40$184,187$61,939
KENT SMITHFOREMAN
Highest-paid employee
40$129,404$65,386
ANTHONY BEDNAREKLINEMAN
Highest-paid employee
40$129,468$13,950
TYLER DEZEEUWLINEMAN
Highest-paid employee
40$129,039$8,459
MARK PETERSONSECRETARY
Trustee or director
8$19,200$0
TIMOTHY VELDEDIRECTOR
Trustee or director
8$18,960$0
DONALD FERNHOLZVICE PRESIDENT
Trustee or director
8$18,914$0
DARRYL BURSACKDIRECTOR
Trustee or director
8$18,760$0
GARY GROOTHUISTREASURER
Trustee or director
8$18,720$0
WAYNE PELTIERDIRECTOR
Trustee or director
8$18,520$0
STEVE NORMANPRESIDENT
Trustee or director
8$17,340$0
990 for the year ended December 31, 2024: 14 people
NameTitleHours / weekCompensationOther / benefits
PATRICK CARRUTHGENERAL MANAGER
Officer
40$530,435$144,864
SCOTT KUBESHMEMBER SERVICES MANAGER
Highest-paid employee
40$155,253$101,640
JILL ROTHSCHADLOFFICE MANAGER
Officer
40$174,543$52,566
KENT SMITHFOREMAN
Highest-paid employee
40$123,130$59,633
TREVOR DIGGINSSYSTEM COORDINATOR
Highest-paid employee
40$121,783$59,126
ANTHONY BEDNAREKLINEMAN
Highest-paid employee
40$124,490$15,586
ERIC WOLLSCHLAGEROPERATIONS MANAGER
Highest-paid employee
40$125,455$8,589
MARK PETERSONSECRETARY
Trustee or director
8$19,123$0
TIMOTHY VELDEDIRECTOR
Trustee or director
8$18,840$0
DONALD FERNHOLZVICE PRESIDENT
Trustee or director
8$18,840$0
STEVE NORMANPRESIDENT
Trustee or director
8$18,840$0
DARRYL BURSACKDIRECTOR
Trustee or director
8$18,760$0
GARY GROOTHUISTREASURER
Trustee or director
8$18,720$0
WAYNE PELTIERDIRECTOR
Trustee or director
8$18,480$0
990 for the year ended December 31, 2023: 14 people
NameTitleHours / weekCompensationOther / benefits
PATRICK CARRUTHGENERAL MANAGER
Officer
40$488,145$206,787
ERIC WOLLSCHLAGEROPERATIONS MANAGER
Highest-paid employee
40$164,601$91,285
SCOTT KUBESHMEMBER SERVICES MANAGER
Highest-paid employee
40$144,781$87,744
JILL ROTHSCHADLOFFICE MANAGER
Officer
40$164,679$50,620
KENT SMITHFOREMAN
Highest-paid employee
40$119,491$58,193
ANDREW JOHNSONCREW CHIEF
Highest-paid employee
40$115,592$58,995
ANTHONY BEDNAREKLINEMAN
Highest-paid employee
40$116,801$3,797
MARK PETERSONSECRETARY
Trustee or director
8$18,880$0
TIMOTHY VELDEDIRECTOR
Trustee or director
8$18,840$0
GARY GROOTHUISTREASURER
Trustee or director
8$18,815$0
DONALD FERNHOLZVICE PRESIDENT
Trustee or director
8$18,800$0
DARRYL BURSACKDIRECTOR
Trustee or director
8$18,720$0
STEVE NORMANPRESIDENT
Trustee or director
8$18,720$0
WAYNE PELTIERDIRECTOR
Trustee or director
8$18,480$0

Address and contacts

Address (IRS master file)
PO BOX 248, MONTEVIDEO, MN 56265-0248
Mailing address (990-N for 2017)
PO Box 248, Montevideo MN 56265
Principal officer (990 for 2025)
PATRICK C CARRUTH, PO BOX 248, MONTEVIDEO, MN 562650248
Principal officer (990-N for 2017)
Jon Kleven, PO Box 248, Montevideo MN 56265
Signed the 990
PATRICK C CARRUTH, GENERAL MANAGER
Phone
(320) 269-2163
Return prepared by
BRADY MARTZ PLLC

Mission

MINNESOTA VALLEY COOPERATIVE LIGHT AND POWER ASSOCIATION IS A PROACTIVE COOPERATIVE THAT CONTINUES TO PROVIDE VALUE TO OUR MEMBERS.

990 for the year ended December 31, 2025

Program accomplishments

  • PURCHASE AND DISTRIBUTION OF ELECTRICAL POWER TO APPROXIMATELY 5,325 RURAL CUSTOMERS

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 yearYear endedDueIRS public records
2025December 31, 2025May 15, 2026990 on file
2024December 31, 2024May 15, 2025990 on file
2023December 31, 2023May 15, 2024990 on file

IRS record

EIN
41-0419129
Tax-exempt status
501(c)(12): Benevolent life insurance association or mutual company
Donations deductible
No
Exempt since
1943
Accounting year ends
December
Files
Form 990 or 990-EZ
Assets (IRS master file)
$106,148,192
Income (IRS master file)
$30,060,364

Filing history

FormYear endedRevenueExpensesAssetsReturn
990December 2025$29,138,552$29,291,825$106,148,192XML
990December 2024$26,016,362$25,343,416$101,109,680XML
990December 2023$25,650,557$26,043,792$95,415,919XML
990December 2022$24,527,313$25,134,140$85,287,908IRS
990December 2021–––IRS
990December 2020–––IRS
990December 2018–––IRS
990-N for 2017
Officer: Jon Kleven
December 31, 2017≤ $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 41-0419129).

Questions about MINNESOTA VALLEY COOPERATIVE LIGHT AND POWER ASSOCIATION

What is the EIN of MINNESOTA VALLEY COOPERATIVE LIGHT AND POWER ASSOCIATION?
The employer identification number (EIN) of MINNESOTA VALLEY COOPERATIVE LIGHT AND POWER ASSOCIATION is 41-0419129.
Is MINNESOTA VALLEY COOPERATIVE LIGHT AND POWER ASSOCIATION tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(12) since 1943.
Are donations to MINNESOTA VALLEY COOPERATIVE LIGHT AND POWER ASSOCIATION tax-deductible?
No. The IRS master file says contributions to it are not deductible.
Which annual return does MINNESOTA VALLEY COOPERATIVE LIGHT AND POWER 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 MINNESOTA VALLEY COOPERATIVE LIGHT AND POWER 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 MINNESOTA VALLEY COOPERATIVE LIGHT AND POWER 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 MINNESOTA VALLEY COOPERATIVE LIGHT AND POWER ASSOCIATION?
The 990 for the year ended December 31, 2025 names PATRICK C CARRUTH.
Who are the officers and directors of MINNESOTA VALLEY COOPERATIVE LIGHT AND POWER ASSOCIATION?
The 990 for the year ended December 31, 2025 lists 14 people; 14 received compensation from the organization, the highest $551,452 (PATRICK CARRUTH, GENERAL MANAGER).
How much revenue does MINNESOTA VALLEY COOPERATIVE LIGHT AND POWER ASSOCIATION have?
On its 990 for the year ended December 31, 2025 it reported revenue of $29,138,552, expenses of $29,291,825 and total assets of $106,148,192 at year end.

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