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Filing year 2024

REDWOOD ELECTRIC COOPERATIVE

Clements, Minnesota·EIN 41-0184475·501(c)(12)
Total revenue
$16.6M
Total assets
$41.7M
Total expenses
$16.6M
Reported officers
14
Mission

PROVIDE RELIABLE, EFFICIENT DELIVERY OF ELECTRICITY AND OTHER SERVICES TO OUR MEMBER OWNERS WITH THE HIGHEST LEVEL OF CUSTOMER SERVICE.

Executive compensation, broken down

Form 990 · Part VII & Schedule J · 14 reported individuals · Filing year 2024

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

Manager of Finance & Admin
Finance Manager
Above 90th percentile
$201k
$216k
Base
$128k
Bonus
$900
Other
$954
Benefits
$40k
Operations Manager
75th to 90th percentile
$200k
$215k
Base
$129k
Bonus
$600
Other
$1k
Benefits
$39k
Senior Foreman
Highest Compensated Employee
Median to 75th percentile
$190k
$204k
Base
$116k
Bonus
$350
Other
$789
Benefits
$19k
General Manager
Median to 75th percentile
$189k
$203k
Base
$118k
Bonus
$300
Other
$6k
Benefits
$21k
Foreman
Highest Compensated Employee
Median to 75th percentile
$180k
$193k
Base
$109k
Bonus
$350
Other
$708
Benefits
$40k
Senior Foreman
Highest Compensated Employee
Median to 75th percentile
$179k
$193k
Base
$112k
Bonus
$350
Other
$2k
Benefits
$36k
Foreman
Highest Compensated Employee
Median to 75th percentile
$179k
$192k
Base
$110k
Bonus
$350
Other
$3k
Benefits
$39k
Director
Board Member
25th percentile to median
$16k
$17k
President
10th to 25th percentile
$15k
$16k
Director
Board Member
25th percentile to median
$14k
$15k
Vice President
25th percentile to median
$14k
$15k
Secretary/treasurer
Officer (Unspecified)
$14k
$15k
Director
Board Member
25th percentile to median
$14k
$15k
Director
Board Member
25th percentile to median
$13k
$14k

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.

Fell 17%
over 3 years

From $242k in 2021 to $201k in 2024.

$242k
2021
$198k
2023
$201k
2024
In today's dollarsEst.
Down 28% in real terms$300k to $216k

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

Finance Manager pay rose 7% from 2021 to 2024, while revenue rose 4%.

$187k in 2021 to $201k in 2024.
  • Operations Manager pay fell 11% from 2021 to 2024.
  • Highest Compensated Employee pay fell 4% from 2023 to 2024.

Pay for the position itself, not any one person. The officeholder may have changed between 2021 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

REDWOOD ELECTRIC COOPERATIVE reported revenue and expenses across 3 filing years.

RevenueExpenses
$15.9M
$15.6M
2021
$16.7M
$16.7M
2023
$16.6M
$16.6M
2024
Total revenue and total expenses from IRS Form 990 filings.
FAQ

Common questions about REDWOOD ELECTRIC COOPERATIVE

What does the Finance Manager of REDWOOD ELECTRIC COOPERATIVE earn?

In 2024, the Finance Manager of REDWOOD ELECTRIC COOPERATIVE received $200,645 in total compensation. This pay is in the top 10% for Finance Manager roles among nonprofits nationwide, across all sectors: at least 9 in 10 comparable filings report less. Based on IRS Form 990 data.

How does Finance Manager pay at REDWOOD ELECTRIC COOPERATIVE compare with similar nonprofits?

Compared with the same role at nonprofits nationwide, across all sectors, the 2024 pay of the Finance Manager at REDWOOD ELECTRIC COOPERATIVE falls in the top 10%.

What are REDWOOD ELECTRIC COOPERATIVE's revenue and expenses?

In 2024, REDWOOD ELECTRIC COOPERATIVE reported $16.6M in total revenue and $16.6M in total expenses on its IRS Form 990.

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