Civic Intelligence

Agralite Electric Cooperative

EIN 41-0560428 • 501(c)12 • Benson, MN

Profile

To provide safe, reliable electric service and other related products to improve the quality of life in our region.

PO Box 228Benson, MN 56215

www.agralite.coop

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

74th percentile

0.60x

Higher debt load relative to assets than 74% of similar nonprofits.

501(c)12 • $50M-$100M nonprofits • Source year 2024

Liabilities / Revenue

70th percentile

1.80x

Higher debt load relative to revenue than 70% of similar nonprofits.

501(c)12 • $50M-$100M nonprofits • Source year 2024

Net Margin

61st percentile

2.9%

Higher net margin than 61% of similar nonprofits.

501(c)12 • $50M-$100M nonprofits • Source year 2024

Top Officer Pay

48th percentile

$277,000

Higher top officer pay than 48% of similar nonprofits.

Top officer pay equals 1.0% of source-year revenue.

501(c)12 • $50M-$100M nonprofits • Source year 2024

Asset Growth

83rd percentile

9.5%

Faster asset growth than 83% of similar nonprofits.

501(c)12 • $50M-$100M nonprofits • Annualized from 2023 to 2024

Revenue Growth

18th percentile

-1.8%

Faster revenue growth than 18% of similar nonprofits.

501(c)12 • $50M-$100M nonprofits • Annualized from 2023 to 2024

Assets

Up

$80,313,301

Up $6,997,064 (+9.5%) from 2023

Liabilities

Up

$47,879,743

Up $6,334,237 (+15%) from 2023

Net Assets

Up

$32,433,558

Up $662,827 (+2.1%) from 2023

Revenue

Down

$26,539,668

Down $493,547 (-1.8%) from 2023

Expenses

Down

$25,768,343

Down $539,463 (-2.1%) from 2023

Net Income

Up

$771,325

Up $45,916 (+6.3%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$100M$50M$0Assets 2010: $42,661,847Liabilities 2010: $24,198,106Net Assets 2010: $18,463,7412010Assets 2011: $46,243,037Liabilities 2011: $27,426,492Net Assets 2011: $18,816,5452011Assets 2012: $46,414,750Liabilities 2012: $26,293,701Net Assets 2012: $20,121,0492012Assets 2013: $46,428,214Liabilities 2013: $25,161,802Net Assets 2013: $21,266,4122013Assets 2014: $48,287,532Liabilities 2014: $26,177,692Net Assets 2014: $22,109,8402014Assets 2015: $50,570,650Liabilities 2015: $28,161,414Net Assets 2015: $22,409,2362015Assets 2016: $50,910,165Liabilities 2016: $28,061,243Net Assets 2016: $22,848,9222016Assets 2017: $53,402,629Liabilities 2017: $29,436,177Net Assets 2017: $23,966,4522017Assets 2018: $55,721,404Liabilities 2018: $29,984,333Net Assets 2018: $25,737,0712018Assets 2019: $61,014,368Liabilities 2019: $34,572,157Net Assets 2019: $26,442,2112019Assets 2020: $66,398,391Liabilities 2020: $38,947,032Net Assets 2020: $27,451,3592020Assets 2021: $69,462,503Liabilities 2021: $40,844,321Net Assets 2021: $28,618,1822021Assets 2022: $70,519,941Liabilities 2022: $40,805,066Net Assets 2022: $29,714,8752022Assets 2023: $73,316,237Liabilities 2023: $41,545,506Net Assets 2023: $31,770,7312023Assets 2024: $80,313,301Liabilities 2024: $47,879,743Net Assets 2024: $32,433,5582024

Highlighted filing

2024

Assets$80,313,301
Liabilities$47,879,743
Net Assets$32,433,558

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$30M$20M$10M$0Expenses 2010: $17,279,8352010Expenses 2011: $18,125,7882011Expenses 2012: $20,166,0582012Revenue 2013: $21,808,076Expenses 2013: $21,013,043Net Income 2013: $795,0332013Revenue 2014: $22,007,703Expenses 2014: $21,652,142Net Income 2014: $355,5612014Revenue 2015: $21,206,661Expenses 2015: $20,923,522Net Income 2015: $283,1392015Revenue 2016: $22,147,566Expenses 2016: $21,781,778Net Income 2016: $365,7882016Revenue 2017: $23,718,811Expenses 2017: $23,295,171Net Income 2017: $423,6402017Revenue 2018: $23,454,541Expenses 2018: $22,957,343Net Income 2018: $497,1982018Revenue 2019: $23,619,317Expenses 2019: $23,128,504Net Income 2019: $490,8132019Revenue 2020: $23,129,437Expenses 2020: $22,688,478Net Income 2020: $440,9592020Revenue 2021: $24,861,344Expenses 2021: $23,842,283Net Income 2021: $1,019,0612021Revenue 2022: $25,358,621Expenses 2022: $24,722,194Net Income 2022: $636,4272022Revenue 2023: $27,033,215Expenses 2023: $26,307,806Net Income 2023: $725,4092023Revenue 2024: $26,539,668Expenses 2024: $25,768,343Net Income 2024: $771,3252024

Highlighted filing

2024

Revenue$26,539,668
Expenses$25,768,343
Net Income$771,325

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$80.3$47.9$32.4$26.5$25.8$0.77
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$73.3$41.5$31.8$27.0$26.3$0.73
2022Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$70.5$40.8$29.7$25.4$24.7$0.64
2021Detailed filing. Detailed filing data is available for this year.$69.5$40.8$28.6$24.9$23.8$1.02
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$66.4$38.9$27.5$23.1$22.7$0.44
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$61.0$34.6$26.4$23.6$23.1$0.49
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$55.7$30.0$25.7$23.5$23.0$0.50
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$53.4$29.4$24.0$23.7$23.3$0.42
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$50.9$28.1$22.8$22.1$21.8$0.37
2015Detailed filing. Detailed filing data is available for this year.$50.6$28.2$22.4$21.2$20.9$0.28
2014XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$48.3$26.2$22.1$22.0$21.7$0.36
2013XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$46.4$25.2$21.3$21.8$21.0$0.80
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$46.4$26.3$20.1$20.2
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$46.2$27.4$18.8$18.1
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$42.7$24.2$18.5$17.3
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Jul 30, 2025
Return Version
2024v5.2
Gross Receipts
$26,789,267
Mission and Program Overview

Mission

Distribute electricity to membership.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$45,220,559$53,571,863▲ $8,351,304
Rtn Earn Endowment Incm Other Fnds$31,770,731$32,433,558▲ $662,827
Investments Program Related$13,404,381$14,121,502▲ $717,121
Savings and Temporary Cash Investments$6,271,698$4,165,152▼ $2,106,546
Investments Other Securities$2,600,322$3,339,892▲ $739,570
Accounts Receivable$2,001,356$2,183,989▲ $182,633
Inventories for Sale or Use$2,713,117$2,076,151▼ $636,966
Other Notes and Loans Receivable, Net$783,382$583,390▼ $199,992
Prepaid Expenses and Deferred Charges$306,493$257,369▼ $49,124
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$73,316,237$80,313,301▲ $6,997,064
Other Assets Total$14,929$13,993▼ $936
Liabilities
Mortgage Notes Payable Secured by Investment Property$36,347,194$41,121,855▲ $4,774,661
Accounts Payable and Accrued Expenses$2,999,962$3,971,004▲ $971,042
Deferred Revenue$1,586,236$2,297,883▲ $711,647
Other Liabilities$560,748$447,432▼ $113,316
Escrow Account Liability$51,366$41,569▼ $9,797
Total Liabilities$41,545,506$47,879,743▲ $6,334,237
Net Assets / Fund Balance
Total Net Assets Fund Balance$31,770,731$32,433,558▲ $662,827
Total Liabilities and Net Assets / Fund Balance$73,316,237$80,313,301▲ $6,997,064

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$50,223,527$33,406,991$83,630,518
Equipment$2,939,606$2,839,180$5,778,786
Buildings$257,732$616,989$874,721
Land$150,998-$150,998
Investment Program Related Org$15,984--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Jennifer StryhnCEOFT$224,311$57,201$281,512
Thomas HoffmanOperations ManagerFT$166,667$74,205$240,872
Robert HobergLead Lineman/foremenFT$129,062$75,023$204,085
Jonanthan MessnerMember Services ManagerFT$144,342$41,346$185,688
Stephanie WrobleskiCFOFT$129,133$36,322$165,455
Jeremy SchauerLead Lineman/foremenFT$120,781$24,996$145,777
Chris LarsonLead Lineman/foremenFT$121,923$15,630$137,553
Warren RauPresidentPT$14,300-$14,300
Andrea ThomsonDirectorPT$13,650-$13,650
Bennett ZierkeDirectorPT$13,650-$13,650
Kathy DraegerDirector-$13,600-$13,600
Orvin GronsethVice PresidentPT$12,150-$12,150
Steve NelsonDirectorPT$11,250-$11,250
Jeff HuffordSecretary/treasurerPT$10,600-$10,600

Highest Paid Contractors

ContractorServicesLocationCompensation
Gardner Builders Minneapolis INCBuilding General Contractor730 2ND AVE SOUTH SUITE 1233, Minneapolis, MN 55402$4,014,195
Star Energy Services LLCEngineering And Safety6875 POWER LANE SW, Alexandria, MN 56308$736,946
Mohagen Hansen ArchitecturalArchitectural Firm1000 TWELVE OAKS CENTER DR, Wayzata, MN 55391$408,329
Carr's Tree ServiceRight Of Way ClearingPO BOX 1250, Otter Tail, MN 56571$375,746
Integrity Contracting INCPower Line Install17827 COUNTY RD 2, Shevlin, MN 56676$316,053
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$26,001,963
Investment Income
$472,113
Other Revenue
$65,592
Change in Net Assets
$771,325

Audited Revenue Reconciliation

Revenue per Audited Statements
$26,539,668
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$-7,830
Total Revenue per Audited Statements
$26,531,838
Total Revenue per Form 990
$26,539,668
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$20,752,373
Salaries, Compensation, and Employee Benefits$3,826,179
Grants and Similar Amounts Paid$5,839
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$2,438,323
Depreciation Depletion---$2,346,945
Other Expenses---$1,624,630
Benefits to Members---$1,183,952
Interest---$1,013,804
Pension Plan Contributions---$605,165
Current Officers, Directors, Trustees, and Key Employees---$572,045
Payroll Taxes---$210,646
Grants to Domestic Orgs---$5,839
All Other Expenses---$-1,666,920
Total Functional Expenses$0$0$0$25,768,343

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$25,768,343
Expenses per Audited Statements$24,584,391
Total Expenses per Audited Statements$24,576,561
Expenses Not Reported on Financial Statements$1,183,952
Other Expense Adjustments$1,183,952
Expenses Not Reported on Form 990$-7,830
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Finance Lease Liability$405,962
Consumer Deposits$41,260
Patronage Capital Payable$210
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 6

Substantially all customers of the cooperative are members. Each member has one vote.

Form 990, Part VI, Section A, Line 7A

The membership elects the board of directors. There is one class of membership.

Form 990, Part VI, Section A, Line 7B

The membership must approve changes to the by-laws.

Form 990, Part VI, Section A, Line 8B

The cooperative has no committees with broad authority to act on behalf of the governing body.

Form 990, Part VI, Section B, Line 11B

The board of directors receive a copy of form 990 before it is filed. The form is reviewed and approved during a monthly board meeting.

Form 990, Part VI, Section B, Line 12C

The conflict of interest policy applies to board members, the general manager, and all employees. As potential conflicts arise, management makes inquiries and determines if a conflict exists. Management is responsible for the handling of all conflicts.

Form 990, Part VI, Section B, Line 15A

The general manager's salary is compared to other cooperatives through industry surverys and approved by the board of directors. This process is undertaken annually.

Form 990, Part VI, Section C, Line 19

Governing documents, conflict of interest policy, and financial documents are available upon request.

Form 990, Part VII, Column F, Other Compensation

Included in other compensation is the estimated current year increase or decrease in the actuarial value of the defined benefit plan for the general manager. The current year increase or decrease does not represent current year contributions to the plan. Rather, it is an estimate of the increase or decrease in the actuarial value of the plan as calculated by the plan administrator.

Filing and Contact Details

Filer

Filer Name
Agralite Electric Cooperative
EIN
41-0560428
Phone
3208434150
Address
PO BOX 228, BENSON, MN 56215

Signing Officer

Name
Warren Rau
Title
President
Phone
3208434150
Signed
2025-07-30
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Warren Rau
Formed
1939
Legal Domicile
Mn
Voting Board Members
7
Independent Board Members
7
Employees
28
Volunteers
0

Preparer

Firm
Eide Bailly Llp
Address
345 N REID PL STE 400, SIOUX FALLS, SD 57103-7034
Preparer
Laurie Hanson CPA
Phone
6053391999
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

Retirement of capital credits -1,292,450. Allocation of 2024 margins to members in 2025 1,183,952.

FORM 990, PART IX, LINE 4 STATEMENT OF FUNCTIONAL EXPENSES:

The cooperative has interpreted the instructions to part ix, line 4, to mean patronage capital allocated for the year, rather than patronage capital retired. This is consistent with the bylaws of the cooperative.

FORM 990, PART IX, LINE 24E, STATEMENT OF FUNCTIONAL EXPENSES:

The labor, pension and payroll taxes reported on lines 5-10 are included in distribution expense, administrative & general expense and customer expense. Therefore, labor, pension and payroll taxes are shown as a reduction to other expenses on line 24e.

Financial Statement Notes

PART IV, LINE 2B:

The cooperative receives contributions from members for agralite electric trust, an operation roundup program. The cooperative transfers the contributions to the trust quarterly in january, march, july and october.

PART X, LINE 2:

The cooperative believes it has appropriate support for any tax positions taken affecting its annual filing requirements, and as such, does not have any uncertain tax positions that are material to the financial statements. The cooperative would recognize future accrued interest and penalties related to unrecognized tax benefits in income tax expense if such interest and penalties are incurred.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Reclass expense reported as revenue in financial statements -7,830.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Reclass expense reported as revenue in financial statements -7,830.

PART XII, LINE 4B - OTHER ADJUSTMENTS:

Allocation of 2024 margins to members in 2025 1,183,952.

Raw XML AppendixShowing 400 of 651 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Form990PartVIISectionAGrp/PersonNm7JENNIFER STRYHN
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IRS990/Form990PartVIISectionAGrp/PersonNm10JONANTHAN MESSNER
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IRS990/Form990PartVIISectionAGrp/TitleTxt12LEAD LINEMAN/FOREMEN
IRS990/Form990PartVIISectionAGrp/TitleTxt13LEAD LINEMAN/FOREMEN
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