Mission
Minnkota Power is a rural electric cooperative that generates and transmits electric power.
Executive compensation, broken down
Form 990 · Schedule J · 27 reported individuals · Filing year 2024
President & CEO
$1.4M
$1.5M
- Base
- $1.1M
- Bonus
- —
- Other
- $25k
- Benefits
- $32k
Vice President and COO
$529k
$569k
- Base
- $360k
- Bonus
- $10k
- Other
- $71k
- Benefits
- $33k
General Counsel-vp of Legal, Compliance & Risk Mgmt
officer (unspecified)
$475k
$511k
- Base
- $355k
- Bonus
- $10k
- Other
- $23k
- Benefits
- $32k
Vice President of Administration
vice president
$413k
$445k
- Base
- $317k
- Bonus
- $13k
- Other
- $100
- Benefits
- $32k
Vice President and CFO
$406k
$436k
- Base
- $302k
- Bonus
- $10k
- Other
- $10k
- Benefits
- $32k
Vice President of Power Supply
vice president
$402k
$432k
- Base
- $271k
- Bonus
- $13k
- Other
- $37k
- Benefits
- $33k
Vice President of Project Development
vice president
$397k
$428k
- Base
- $302k
- Bonus
- $13k
- Other
- $140
- Benefits
- $33k
Vice President and Ciso
vice president
$393k
$423k
- Base
- $301k
- Bonus
- $10k
- Other
- $100
- Benefits
- $32k
Vice President of Power Delivery
vice president
$378k
$406k
- Base
- $286k
- Bonus
- $13k
- Other
- $233
- Benefits
- $32k
Vice President Strategic Initiatives
vice president
$328k
$353k
- Base
- $245k
- Bonus
- $13k
- Other
- $100
- Benefits
- $32k
Vice President of External Affairs
vice president
$321k
$345k
- Base
- $236k
- Bonus
- $13k
- Other
- $246
- Benefits
- $32k
Environmental Manager
highest compensated employee
$312k
$336k
- Base
- $231k
- Bonus
- $10k
- Other
- $100
- Benefits
- $32k
Senior Manager Resource Planning & Markets
highest compensated employee
$304k
$326k
- Base
- $228k
- Bonus
- $5k
- Other
- $100
- Benefits
- $32k
Senior Manager of Power Production
highest compensated employee
$282k
$303k
- Base
- $222k
- Bonus
- $5k
- Other
- $100
- Benefits
- $19k
Senior Manager of Audit & Risk
highest compensated employee
$275k
$295k
- Base
- $200k
- Bonus
- $5k
- Other
- $3k
- Benefits
- $32k
Senior Manager of Generation & Development
highest compensated employee
$274k
$294k
- Base
- $208k
- Bonus
- $6k
- Other
- $100
- Benefits
- $25k
Board Secretary/treasurer
officer (unspecified)
$22k
$24k
Board Chair
board chair
$19k
$20k
Board Member
board member
$17k
$19k
Board Vice Chair
board chair
$17k
$18k
Board Member
board member
$16k
$18k
Board Member
board member
$16k
$17k
Board Member
board member
$15k
$16k
Board Member
board member
$14k
$15k
Board Member
board member
$13k
$14k
Board Member
board member
$11k
$11k
Board Member
board member
$10k
$11k
| Position | Base | Bonus | Other | Benefits | Total |
|---|---|---|---|---|---|
President & CEO | $1.1M | — | $25k | $32k | $1.4M $1.5M |
Vice President and COO | $360k | $10k | $71k | $33k | $529k $569k |
General Counsel-vp of Legal, Compliance & Risk Mgmt officer (unspecified) | $355k | $10k | $23k | $32k | $475k $511k |
Vice President of Administration vice president | $317k | $13k | $100 | $32k | $413k $445k |
Vice President and CFO | $302k | $10k | $10k | $32k | $406k $436k |
Vice President of Power Supply vice president | $271k | $13k | $37k | $33k | $402k $432k |
Vice President of Project Development vice president | $302k | $13k | $140 | $33k | $397k $428k |
Vice President and Ciso vice president | $301k | $10k | $100 | $32k | $393k $423k |
Vice President of Power Delivery vice president | $286k | $13k | $233 | $32k | $378k $406k |
Vice President Strategic Initiatives vice president | $245k | $13k | $100 | $32k | $328k $353k |
Vice President of External Affairs vice president | $236k | $13k | $246 | $32k | $321k $345k |
Environmental Manager highest compensated employee | $231k | $10k | $100 | $32k | $312k $336k |
Senior Manager Resource Planning & Markets highest compensated employee | $228k | $5k | $100 | $32k | $304k $326k |
Senior Manager of Power Production highest compensated employee | $222k | $5k | $100 | $19k | $282k $303k |
Senior Manager of Audit & Risk highest compensated employee | $200k | $5k | $3k | $32k | $275k $295k |
Senior Manager of Generation & Development highest compensated employee | $208k | $6k | $100 | $25k | $274k $294k |
Board Secretary/treasurer officer (unspecified) | — | — | — | — | $22k $24k |
Board Chair board chair | — | — | — | — | $19k $20k |
Board Member board member | — | — | — | — | $17k $19k |
Board Vice Chair board chair | — | — | — | — | $17k $18k |
Board Member board member | — | — | — | — | $16k $18k |
Board Member board member | — | — | — | — | $16k $17k |
Board Member board member | — | — | — | — | $15k $16k |
Board Member board member | — | — | — | — | $14k $15k |
Board Member board member | — | — | — | — | $13k $14k |
Board Member board member | — | — | — | — | $11k $11k |
Board Member board member | — | — | — | — | $10k $11k |
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 9%
from 2023
From $1.3M in 2023 to $1.4M in 2024.
$1.3M
2023
$1.4M
2024
$1.3M
2023
$1.4M
2024
In today's dollarsEst.
Up 6% in real terms$1.4M to $1.5M
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.
Highest reported compensation in each year. Volunteer board members and partial-year payouts are filtered out.
Financial trend
Revenue and expenses over time
MINNKOTA POWER COOPERATIVE INC Kay Schraeder - Vice President and CFO reported revenue and expenses across 2 filing years.
RevenueExpenses
$449.7M
$436.7M
2023
$472M
$462.8M
2024
Total revenue and total expenses from IRS Form 990 filings.
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