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Filing year 2024

LAKE REGION ELECTRIC COOPERATIVE

Pelican Rapids, Minnesota·EIN 41-0363020·501(c)(12)
Total revenue
$59.5M
Total assets
$155.6M
Total expenses
$57.7M
Reported officers
18
Mission

TO PROVIDE OUR MEMBERS WITH SAFE, RELIABLE, AFFORDABLE ELECTRICITY, AND LEAD BY OFFERING INNOVATIVE ENERGY SERVICES TO GROW THE COOPERATIVE.

Executive compensation, broken down

Form 990 · Part VII & Schedule J · 18 reported individuals · Filing year 2024

Percentile bands compare each position's total pay with the same role at nonprofits nationwide, across all sectors.

CEO
Above 90th percentile
$511k
$550k
Base
$281k
Bonus
$48k
Other
$17k
Benefits
$38k
Vice President of Engineering/operatings
Board Vice President
75th to 90th percentile
$268k
$288k
Base
$164k
Bonus
$7k
Other
$3k
Benefits
$36k
Lead Journeyman Lineworker
Highest Compensated Employee
Median to 75th percentile
$202k
$217k
Base
$137k
Bonus
$500
Other
$4k
Benefits
$34k
Vice President of Business Solutions
Board Vice President
Median to 75th percentile
$194k
$208k
Base
$157k
Bonus
$7k
Other
$2k
Benefits
$16k
Vice President of Finance/cfo
Vice President
75th to 90th percentile
$189k
$203k
Base
$154k
Bonus
$5k
Other
$2k
Benefits
$15k
Journeyman Lineworker
Highest Compensated Employee
Median to 75th percentile
$186k
$200k
Base
$139k
Bonus
$400
Other
$1k
Benefits
$36k
Journeyman Lineworker
Highest Compensated Employee
Median to 75th percentile
$183k
$197k
Base
$136k
Bonus
$1k
Other
$1k
Benefits
$35k
Lead Journeyman Lineworker
Highest Compensated Employee
Median to 75th percentile
$181k
$195k
Base
$136k
Bonus
$900
Other
$1k
Benefits
$33k
Vice Chair
Board Vice Chair
Median to 75th percentile
$16k
$17k
Chairman
Board Chair
25th percentile to median
$15k
$16k
Secretary/treasurer
Officer (Unspecified)
$14k
$15k
Director
Board Member
25th percentile to median
$14k
$15k
Director
Board Member
25th percentile to median
$12k
$13k
Director
Board Member
25th percentile to median
$11k
$12k
Director (joined 4/25/24)
Board Member
25th percentile to median
$11k
$12k
Director
Board Member
25th percentile to median
$10k
$10k
Director
Board Member
25th percentile to median
$10k
$10k
Director (termed 4/25/24)
Board Member
10th to 25th percentile
$4k
$4k

Teal figures restate each filed amount in 2026 dollars.

Estimated with BLS CPI-U for the Midwest region, restating filed pay into May 2026 dollars. A restatement of past pay, not current or projected pay.

Up 7%
from 2023

From $478k in 2023 to $511k in 2024.

$478k
2023
$511k
2024
In today's dollarsEst.
Up 4% in real terms$528k to $550k

Estimated with BLS CPI-U for the Midwest region, restating filed pay into May 2026 dollars. A restatement of past pay, not current or projected pay.

Pay for the position

Chief Executive Officer pay rose 7% from 2023 to 2024, while revenue rose 4%.

$478k in 2023 to $511k in 2024.
  • Board Vice President pay rose 7% from 2023 to 2024.
  • Highest Compensated Employee pay fell 5% from 2023 to 2024.

Pay for the position itself, not any one person. The officeholder may have changed between 2023 and 2024.

Highest reported compensation in each year. Volunteer board members and partial-year payouts are filtered out.
Financial trend

Revenue and expenses over time

LAKE REGION ELECTRIC COOPERATIVE reported revenue and expenses across 2 filing years.

RevenueExpenses
$57.2M
$56.8M
2023
$59.5M
$57.7M
2024
Total revenue and total expenses from IRS Form 990 filings.
FAQ

Common questions about LAKE REGION ELECTRIC COOPERATIVE

What does the Chief Executive Officer of LAKE REGION ELECTRIC COOPERATIVE earn?

In 2024, the Chief Executive Officer of LAKE REGION ELECTRIC COOPERATIVE received $511,357 in total compensation. This pay is in the top 10% for Chief Executive Officer roles among nonprofits nationwide, across all sectors: at least 9 in 10 comparable filings report less. Based on IRS Form 990 data.

How does Chief Executive Officer pay at LAKE REGION ELECTRIC COOPERATIVE compare with similar nonprofits?

Compared with the same role at nonprofits nationwide, across all sectors, the 2024 pay of the Chief Executive Officer at LAKE REGION ELECTRIC COOPERATIVE falls in the top 10%.

What are LAKE REGION ELECTRIC COOPERATIVE's revenue and expenses?

In 2024, LAKE REGION ELECTRIC COOPERATIVE reported $59.5M in total revenue and $57.7M in total expenses on its IRS Form 990.

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