Nonprofit · EIN 42-0723014
NORTHWEST IOWA POWER COOPERATIVE
Tax-exempt · LE MARS, IA 51031
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2025 | 990 | $124,060,780 | $123,412,750 | $648,030 | $301,403,673 | $199,265,509 | $102,138,164 |
| December 31, 2024 | 990 | $114,611,981 | $113,962,140 | $649,841 | $279,034,305 | $180,675,737 | $98,358,568 |
| December 31, 2023 | 990 | $110,395,836 | $109,664,924 | $730,912 | $258,746,815 | $164,503,663 | $94,243,152 |
Financial details: 990 for the year ended December 31, 2025
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $123,110,209
- Investment income
- $158,439
- Net rental income
- $140,387
- Other revenue
- $792,132
Expenses
- Grants and similar amounts paid
- $23,088
- Benefits paid to members
- $5,831,000
- Compensation of officers, directors and key employees
- $1,002,020
- Other salaries and wages
- $4,648,178
- Salaries, compensation and benefits (total)
- $6,813,627
- Professional fundraising fees
- $0
- Depreciation
- $6,678,578
Balance sheet and other
- Total assets, start of year
- $279,034,305
- Total assets, end of year
- $301,403,673
- Total liabilities, end of year
- $199,265,509
- Net assets, end of year
- $102,138,164
- Land, buildings and equipment
- $202,462,667
- Gross receipts
- $124,060,780
- Employees
- 45
- Volunteers
- 0
- Year formed
- 1949
- 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 |
|---|---|---|---|---|
| MATTHEW WASHBURN | EXECUTIVE VP & GENERAL MANAGER Officer | 43 | $324,715 | $135,556 |
| JAYME HUBER | VP OF ENGINEERING SERVICE Key employee | 41 | $187,635 | $64,898 |
| STEVE SPIELER | CIO Highest-paid employee | 40 | $171,654 | $56,509 |
| JANE SCHEITLER | CFO Officer | 41 | $160,731 | $65,023 |
| THOMAS BERKENPAS | TRANSMISSION SUPERINTENDENT Highest-paid employee | 43 | $138,109 | $76,170 |
| MARK NELSON | POWER DISPATCHING MANAGER Highest-paid employee | 41 | $143,956 | $56,961 |
| WILLIAM THOMPSON | CREW FOREMAN Highest-paid employee | 43 | $137,556 | $58,269 |
| GRANT OLIVER | CREW FOREMAN Highest-paid employee | 43 | $136,597 | $45,122 |
| LOUIS REED | PRESIDENT Trustee or director, Officer | 10 | $20,210 | $0 |
| RONALD STEINHOFF | VICE PRESIDENT Trustee or director, Officer | 10 | $17,530 | $0 |
| BRENDA LUNDERGARD | DIRECTOR Trustee or director | 9 | $15,500 | $0 |
| JAMES ELSE | DIRECTOR Trustee or director | 9 | $14,160 | $0 |
| BRYAN GREVE | DIRECTOR Trustee or director | 8 | $11,100 | $0 |
| TRENT WILL | SECRETARY Trustee or director, Officer | 8 | $11,080 | $0 |
| THOMAS WAGNER | TREASURER Trustee or director, Officer | 7 | $7,990 | $0 |
990 for the year ended December 31, 2024: 15 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| MATTHEW WASHBURN | EXEC. VP & GENERAL MANAGER Officer | 44 | $304,901 | $118,847 |
| JAYME HUBER | VP OF ENGINEERING SERVICES Key employee | 41 | $178,194 | $56,637 |
| STEVE SPIELER | CIO Highest-paid employee | 41 | $163,553 | $48,466 |
| JANE SCHEITLER | CFO Officer | 41 | $152,012 | $57,431 |
| MICHAEL J PERSINGER | APPARATUS SERVICES MANAGER Highest-paid employee | 41 | $137,272 | $61,729 |
| THOMAS BERKENPAS | TRANSMISSION SUPERINTENDEN Highest-paid employee | 43 | $132,359 | $62,600 |
| MARK NELSON | POWER DISPATCHING MANAGER Highest-paid employee | 41 | $138,999 | $45,869 |
| GRANT OLIVER | CREW FOREMAN Highest-paid employee | 43 | $129,932 | $39,786 |
| LOUIS REED | PRESIDENT Trustee or director, Officer | 10 | $17,750 | $0 |
| JAMES ELSE | DIRECTOR Trustee or director | 9 | $14,070 | $0 |
| RONALD STEINHOFF | VICE PRESIDENT Trustee or director, Officer | 9 | $13,080 | $0 |
| THOMAS WAGNER | TREASURER Trustee or director, Officer | 8 | $11,260 | $0 |
| BRENDA LUNDERGARD | DIRECTOR Trustee or director | 8 | $11,020 | $0 |
| TRENT WILL | SECRETARY Trustee or director, Officer | 7 | $9,750 | $0 |
| BRYAN GREVE | DIRECTOR Trustee or director | 6 | $7,170 | $0 |
990 for the year ended December 31, 2023: 16 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| MATTHEW WASHBURN | EXEC. VP & GENERAL MANAGER Officer | 43 | $286,914 | $109,381 |
| JAYME HUBER | VP OF ENGINEERING SERVICES Key employee | 42 | $167,472 | $54,786 |
| STEVE SPIELER | CIO Highest-paid employee | 42 | $154,577 | $45,136 |
| JANE SCHEITLER | CFO Officer | 42 | $143,920 | $53,250 |
| MICHAEL J PERSINGER | APPARATUS SERVICES MANAGER Highest-paid employee | 42 | $130,267 | $55,383 |
| THOMAS BERKENPAS | TRANSMISSION SUPERINTENDENT Highest-paid employee | 43 | $125,384 | $51,102 |
| MARK NELSON | POWER DISPATCHING MANAGER Highest-paid employee | 41 | $131,901 | $41,210 |
| CHRISTOPHER LARSON | ENGINEER III Highest-paid employee | 42 | $121,015 | $34,274 |
| LOUIS REED | PRESIDENT Trustee or director, Officer | 10 | $21,810 | $0 |
| RONALD STEINHOFF | VICE PRESIDENT Trustee or director, Officer | 9 | $14,630 | $0 |
| JAMES ELSE | DIRECTOR Trustee or director | 8 | $11,880 | $0 |
| BRYAN GREVE | DIRECTOR Trustee or director | 8 | $10,500 | $0 |
| TRENT WILL | SECRETARY Trustee or director, Officer | 7 | $8,690 | $0 |
| THOMAS WAGNER | TREASURER Trustee or director, Officer | 6 | $6,370 | $0 |
| BRENDA LUNDERGARD | DIRECTOR (BEG 04/2023) Trustee or director | 6 | $5,350 | $0 |
| A JAMES SHARP | DIRECTOR (END 03/2023) Trustee or director | 6 | $2,350 | $0 |
Address and contacts
- Address (IRS master file)
- PO BOX 240, LE MARS, IA 51031-0240
- In care of
- NORTHWEST IOWA POWER COOPERATIVE
- Principal officer (990 for 2025)
- MATTHEW R WASHBURN, 31002 COUNTY ROAD C38 PO BOX 240, LE MARS, IA 510310240
- Signed the 990
- MATTHEW R WASHBURN, EXECUTIVE VP & GEN MANAGER
- Phone
- (712) 546-4141
- Website
- WWW.NIPCO.COOP
- Return prepared by
- EIDE BAILLY ADVISORY LLC
Mission
WHOLESALE ELECTRICITY SALES TO ITS MEMBER COOPERATIVES.
Program accomplishments
- NIPCO IS A WHOLESALE POWER SUPPLIER TO SIX RURAL ELECTRIC DISTRIBUTION COOPERATIVES AND ONE MUNICIPAL COOPERATIVE COMPRISED OF SIX CITIES.
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
- 42-0723014
- Tax-exempt status
- 501(c)(12): Benevolent life insurance association or mutual company
- Donations deductible
- No
- Exempt since
- 1958
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $301,403,673
- Income (IRS master file)
- $124,060,780
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2025 | $124,060,780 | $123,412,750 | $301,403,673 | XML |
| 990 | December 2024 | $114,611,981 | $113,962,140 | $279,034,305 | XML |
| 990 | December 2023 | $110,395,836 | $109,664,924 | $258,746,815 | XML |
| 990 | December 2022 | $106,140,124 | $105,118,609 | $234,022,291 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2019 | – | – | – | 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 42-0723014).
Questions about NORTHWEST IOWA POWER COOPERATIVE
- What is the EIN of NORTHWEST IOWA POWER COOPERATIVE?
- The employer identification number (EIN) of NORTHWEST IOWA POWER COOPERATIVE is 42-0723014.
- Is NORTHWEST IOWA POWER COOPERATIVE tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(12) since 1958.
- Are donations to NORTHWEST IOWA POWER COOPERATIVE tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does NORTHWEST IOWA POWER 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 NORTHWEST IOWA POWER 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 NORTHWEST IOWA POWER 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 NORTHWEST IOWA POWER COOPERATIVE?
- The 990 for the year ended December 31, 2025 names MATTHEW R WASHBURN.
- Who are the officers and directors of NORTHWEST IOWA POWER COOPERATIVE?
- The 990 for the year ended December 31, 2025 lists 15 people; 15 received compensation from the organization, the highest $324,715 (MATTHEW WASHBURN, EXECUTIVE VP & GENERAL MANAGER).
- How much revenue does NORTHWEST IOWA POWER COOPERATIVE have?
- On its 990 for the year ended December 31, 2025 it reported revenue of $124,060,780, expenses of $123,412,750 and total assets of $301,403,673 at year end.
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