Nonprofit · EIN 42-0394605
MAQUOKETA VALLEY RURAL ELECTRIC COOPERATIVE
Tax-exempt · ANAMOSA, IA 52205
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2025 | 990 | $51,320,342 | $48,101,071 | $3,219,271 | $178,963,582 | $126,861,088 | $52,102,494 |
| December 31, 2024 | 990 | $45,593,070 | $41,879,853 | $3,713,217 | $169,738,874 | $121,245,918 | $48,492,956 |
| December 31, 2023 | 990 | $44,002,907 | $41,267,199 | $2,735,708 | $163,642,141 | $119,267,926 | $44,374,215 |
Financial details: 990 for the year ended December 31, 2025
Revenue
- Contributions, gifts and grants
- $100,711
- of which government grants
- $100,711
- Program service revenue
- $49,075,159
- Investment income
- $129,664
- Net gain from sales of assets
- $12,671
- Net income from sales of inventory
- $11,887
- Other revenue
- $2,014,808
Expenses
- Grants and similar amounts paid
- $20,040
- Benefits paid to members
- $1,200,000
- Compensation of officers, directors and key employees
- $682,411
- Other salaries and wages
- $833,023
- Salaries, compensation and benefits (total)
- $1,591,792
- Professional fundraising fees
- $0
- Depreciation
- $6,868,436
Balance sheet and other
- Total assets, start of year
- $169,738,874
- Total assets, end of year
- $178,963,582
- Total liabilities, end of year
- $126,861,088
- Net assets, end of year
- $52,102,494
- Land, buildings and equipment
- $148,692,416
- Gross unrelated business income
- $3,302
- Gross receipts
- $51,336,729
- Employees
- 84
- Volunteers
- 0
- Year formed
- 1936
- State of legal domicile
- IA
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 |
|---|---|---|---|---|
| Jeremy Richert | CEO/Executive Vice Preside Officer | 55 | $269,951 | $94,048 |
| Kelly Gibbs | Chief Financial Officer Officer | 50 | $175,536 | $63,571 |
| Dean Koopmann | Director of Tech Services Highest-paid employee | 50 | $141,874 | $90,086 |
| Brent Wegmann | Director of IT Highest-paid employee | 50 | $168,710 | $63,128 |
| Anthony Sheridan | Lead Lineman - Foreman Highest-paid employee | 43.87 | $139,291 | $45,382 |
| Nik Schulte | Director of Engineering Highest-paid employee | 50 | $143,058 | $25,595 |
| Trevor Koopmann | Lead Lineman - Foreman Highest-paid employee | 43.58 | $136,449 | $20,538 |
| Thomas Stewart | President Trustee or director, Officer | 6.7 | $14,260 | $0 |
| Scott Minzenmeyer | Assistant Secretary Trustee or director, Officer | 5.5 | $12,510 | $0 |
| Judy Gotto | Treasurer Trustee or director, Officer | 5.3 | $11,040 | $0 |
| Billie Zumbach | Secretary Trustee or director, Officer | 3.6 | $10,120 | $0 |
| Todd Wiedenman | Director Trustee or director | 10 | $9,265 | $0 |
| Brett Nagel | Director Trustee or director | 3.5 | $8,510 | $0 |
| Charlie Peters | Vice President Trustee or director, Officer | 4 | $8,025 | $0 |
| Ron Thielen | Director Trustee or director | 6 | $6,900 | $0 |
2 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Lee Hein | Director Trustee or director | 3.5 | $4,830 |
| Gene Manternach | Director (Thru 3/2025) Trustee or director | 0 | $0 |
990 for the year ended December 31, 2024: 18 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Jeremy Richert | CEO/Executive Vice President Officer | 55 | $257,564 | $96,032 |
| Dan Schulte | Director of Operations Highest-paid employee | 55 | $152,359 | $85,752 |
| Kelly Gibbs | Chief Financial Officer Officer | 50 | $169,580 | $56,001 |
| Brent Wegmann | Director of IT Highest-paid employee | 50 | $162,054 | $54,245 |
| Dean Koopmann | Director of Tech Services Highest-paid employee | 50 | $135,494 | $76,569 |
| Tony Sheridan | Lead Lineman - Foreman Highest-paid employee | 45.6 | $136,121 | $39,770 |
| Tony Marbach | Lead Lineman - Foreman Highest-paid employee | 44.8 | $130,041 | $41,964 |
| Billie Zumbach | Director/Secretary Trustee or director, Officer | 5 | $12,150 | $0 |
| Judy Gotto | Treasurer Trustee or director, Officer | 5.5 | $11,025 | $0 |
| Ron Thielen | President/Director Trustee or director, Officer | 6.5 | $10,800 | $0 |
| Scott Minzenmeyer | Director/Assistant Secretary Trustee or director, Officer | 6.5 | $10,575 | $0 |
| Thomas Stewart | Vice President/President Trustee or director, Officer | 5.8 | $9,240 | $0 |
| Charles McCullough | Assistant Secretary (until Aug 2024) Trustee or director, Officer | 4.4 | $7,070 | $0 |
| Charlie Peters | Director/Secretary/Vice President Trustee or director, Officer | 4 | $6,075 | $0 |
| Todd Wiedenman | Director (beg Aug 2024) Trustee or director | 10 | $4,725 | $0 |
| Brett Nagel | Director (beg Aug 2024) Trustee or director | 3 | $4,275 | $0 |
| Eugene Manternach | Secretary/Director Trustee or director, Officer | 4 | $3,650 | $0 |
| Larry Swanson | Director (until Aug 2024) Trustee or director | 8 | $3,530 | $0 |
990 for the year ended December 31, 2023: 16 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Jeremy Richert | CEO/Executive Vice President Officer | 55 | $243,601 | $92,461 |
| Dan Schulte | Director of Operations Highest-paid employee | 50 | $146,623 | $87,057 |
| Kelly Gibbs | Chief Financial Officer Officer | 50 | $156,868 | $53,010 |
| Brent Wegmann | Director of IT Highest-paid employee | 50 | $149,975 | $57,999 |
| Dean Koopmann | Director of Tech Services Highest-paid employee | 50 | $127,945 | $77,481 |
| Tony Sheridan | Lead Lineman - Foreman Highest-paid employee | 44.2 | $131,407 | $35,797 |
| Travis Manders | Lead Lineman - Foreman Highest-paid employee | 44.1 | $133,159 | $19,567 |
| Thomas Stewart | Vice President Trustee or director, Officer | 6.2 | $11,880 | $0 |
| Judy Gotto | Treasurer Trustee or director, Officer | 5 | $11,660 | $0 |
| Larry Swanson | Director Trustee or director | 8 | $10,780 | $0 |
| Billie Zumbach | Director Trustee or director | 4.4 | $10,560 | $0 |
| Charles McCullough | Assistant Secretary Trustee or director, Officer | 4.4 | $10,340 | $0 |
| Ron Thielen | President Trustee or director, Officer | 6.5 | $9,020 | $0 |
| Charlie Peters | Director Trustee or director | 4 | $8,360 | $0 |
| Eugene Manternach | Secretary Trustee or director, Officer | 4 | $6,800 | $0 |
| Jan Null - Left 092023 | Director Trustee or director | 4 | $4,510 | $0 |
Address and contacts
- Address (IRS master file)
- 109 N HUBER ST, ANAMOSA, IA 52205-1453
- In care of
- % P
- Principal officer (990 for 2025)
- Jeremy Richert, 109 N Huber St, Anamosa, IA 522050370
- Signed the 990
- Jeremy Richert, CEO/Executive Vice President
- Phone
- (319) 462-3542
- Website
- www.mvec.coop
- Return prepared by
- Eide Bailly LLP
Mission
We will be the utility of choice by providing reliable, quality services in a safe, respectful, environmentally responsible, cost-effective manner that benefits our members' quality of life and promotes the success of their local communities.
Program accomplishments
- Maquoketa Valley Electric Cooperative provides electric energy services over 3,333 miles of distribution line to 18,385 metered services, covering more than 17,418 rural residential and commercial member-consumers in nine counties in Northeastern Iowa.
- Maquoketa Valley Electric Cooperative provides internet service to 8,118 members and VoIP phone service to 763 members throughout its service territory.
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
- 42-0394605
- 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)
- $178,963,582
- Income (IRS master file)
- $51,336,729
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2025 | $51,320,342 | $48,101,071 | $178,963,582 | IRS |
| 990 | December 2024 | $45,593,070 | $41,879,853 | $169,738,874 | IRS |
| 990 | December 2023 | $44,002,907 | $41,267,199 | $163,642,141 | XML |
| 990 | December 2022 | $41,739,956 | $40,245,956 | $152,454,363 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | 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 42-0394605).
Questions about MAQUOKETA VALLEY RURAL ELECTRIC COOPERATIVE
- What is the EIN of MAQUOKETA VALLEY RURAL ELECTRIC COOPERATIVE?
- The employer identification number (EIN) of MAQUOKETA VALLEY RURAL ELECTRIC COOPERATIVE is 42-0394605.
- Is MAQUOKETA VALLEY RURAL ELECTRIC COOPERATIVE tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(12) since 1937.
- Are donations to MAQUOKETA VALLEY RURAL ELECTRIC COOPERATIVE tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does MAQUOKETA VALLEY RURAL ELECTRIC COOPERATIVE 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 MAQUOKETA VALLEY RURAL ELECTRIC COOPERATIVE 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 MAQUOKETA VALLEY RURAL ELECTRIC COOPERATIVE 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 MAQUOKETA VALLEY RURAL ELECTRIC COOPERATIVE?
- The 990 for the year ended December 31, 2025 names Jeremy Richert.
- Who are the officers and directors of MAQUOKETA VALLEY RURAL ELECTRIC COOPERATIVE?
- The 990 for the year ended December 31, 2025 lists 17 people; 16 received compensation from the organization, the highest $269,951 (Jeremy Richert, CEO/Executive Vice Preside).
- How much revenue does MAQUOKETA VALLEY RURAL ELECTRIC COOPERATIVE have?
- On its 990 for the year ended December 31, 2025 it reported revenue of $51,320,342, expenses of $48,101,071 and total assets of $178,963,582 at year end.
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