Overview
What is Runestone Electric Association?
Runestone Electric Association is a nonprofit organization based in Alexandria, Minnesota, specifically located at 6839 Power Lane SW, with a ZIP code of 56308. Their primary role involves the sales and distribution of electricity to approximately 15,089 residential, seasonal, and commercial accounts. The Association's mission is to ensure the delivery of safe, reliable, and affordable electricity to its members. With a dedicated workforce of 40 employees, they are committed to maintaining the electric infrastructure and providing essential energy services to their community.
Official website here: www.runestoneelectric.com
What are the reviews and ratings of this charity?
Runestone Electric Association is not currently rated by Charity Navigator, primarily because it is not registered as a 501(c)(3) nonprofit. This lack of classification means it cannot be evaluated under Charity Navigator's typical methodologies, which require certain IRS qualifications. The absence of a rating from Charity Navigator does not imply any particular positive or negative assessment of the organization.
The organization's historical ratings, which reflect a version of the current Accountability and Finance score, do not account for newer criteria such as Leadership & Adaptability, Culture & Community, or Impact & Measurement. This limitation is due to its organizational classification outside the 501(c)(3) charitable framework, restricting comprehensive evaluations based on financial data or operational transparency.
There are no user reviews available on GreatNonprofits for Runestone Electric Association, which means public sentiment and community interaction for the organization are not documented on this platform. Thus, insights into direct stakeholder feedback remain unavailable.
This AI summary has been generated from information found on Charity Navigator.
Is Runestone Electric Association legitimate?
Runestone Electric Association is a legitimate nonprofit organization registered as a 501(c)(12) entity. Runestone Electric Association submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $710,688
Professional Fundraising Fees: $0
Other Salaries and Wages: $2,192,834
For more financial information, click here
Official website here: www.runestoneelectric.com
What is the mission statement of Runestone Electric Association?
The Runestone Electric Association is committed to providing its members with electricity that is safe, reliable, and affordable. This mission statement is reflected in their day-to-day operations, which include the sales and distribution of electricity to over 15,000 residential, seasonal, and commercial accounts. The organization prioritizes the well-being and satisfaction of its customers, ensuring a consistent power supply to support their various needs. By delivering electricity in a responsible and efficient manner, Runestone Electric Association strives to build strong relationships with its community and maintain their trust.
Official website here: www.runestoneelectric.com
Who is the CEO of Runestone Electric Association?
Alan Haman is the Ceo of Runestone Electric Association. The CEO's salary of Runestone Electric Association is $261,834 and their total compensation is $432,028.
Official website here: www.runestoneelectric.com
What is the revenue of Runestone Electric Association?
Runestone Electric Association's revenue in 2022 was $31,843,187.
Official website here: www.runestoneelectric.com
Who are the executives of Runestone Electric Association and what are their salaries?
The average compensation at Runestone Electric Association during 2022 was $72,588. There are 40 employees at Runestone Electric Association.
Here are 14 key members and their salaries (Runestone Electric Association's CEO's salary is $261,834 and their total compensation is $432,028):
- Compensation: $261,834
- Related: $0
- Other: $170,194
- Compensation: $130,544
- Related: $0
- Other: $106,146
- Compensation: $136,895
- Related: $0
- Other: $95,615
- Compensation: $130,834
- Related: $0
- Other: $95,762
- Compensation: $134,896
- Related: $0
- Other: $58,142
- Compensation: $127,359
- Related: $0
- Other: $61,363
- Compensation: $127,708
- Related: $0
- Other: $22,598
- Compensation: $7,450
- Related: $0
- Other: $0
- Compensation: $7,400
- Related: $0
- Other: $0
- Compensation: $7,350
- Related: $0
- Other: $0
- Compensation: $7,200
- Related: $0
- Other: $0
- Compensation: $6,350
- Related: $0
- Other: $0
- Compensation: $5,450
- Related: $0
- Other: $0
- Compensation: $4,950
- Related: $0
- Other: $0
Official website here: www.runestoneelectric.com
Where can I find the form 990 for Runestone Electric Association?
Runestone Electric Association's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.runestoneelectric.com
Learn more at the official website: www.runestoneelectric.com
Mission Statement of Runestone Electric Association
Runestone Electric Association, a dedicated organization, is committed to providing its members with electricity that is safe, reliable, and affordable. This mission is at the heart of the association's operations, driving its every move to ensure the satisfaction and well-being of its 15,089 residential, seasonal, and commercial account holders.
The association's unwavering dedication to its members is evident in its sales and distribution of electricity. By supplying a consistent power source, Runestone Electric Association enables its customers to power their homes and businesses, enhancing their quality of life and contributing to the development of their communities. The association's commitment to reliability means that it is ever-prepared to respond to any power outages or disruptions, minimizing the inconvenience to its members and ensuring their electricity needs are met promptly and efficiently.
Furthermore, Runestone Electric Association's mission extends beyond just supplying electricity. It is focused on making electricity accessible to its members, offering them affordable rates that enable them to manage their energy expenses effectively. This commitment to affordability is a testament to the association's dedication to its members and its belief that electricity is an essential service that should be available to all, regardless of financial circumstances.
In summary, Runestone Electric Association is a mission-driven organization dedicated to serving its members with safe, reliable, and affordable electricity. Through its sales and distribution efforts, it strives to enhance the quality of life of its 15,089 residential, seasonal, and commercial account holders, ensuring they have a consistent power source that they can rely on to meet their electricity needs.
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Impact
October, 2024
Runestone Electric Association (REA) significantly impacts its community by providing safe, reliable, and affordable electricity to 15,089 residential, seasonal, and commercial accounts in Alexandria, MN. The association plays a crucial role in ensuring that its members have consistent access to electrical power, which is essential for daily life and business operations. By focusing on affordability and reliability, REA helps support the local economy and enhances the quality of life for its members. Their commitment to public benefit reflects a dedication to serving the community's needs and fostering energy stability.
This information is meant to be a general summary of Runestone Electric Association. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $542,818
- Program Service Revenue: $31,171,518
- Gross Receipts: $31,848,652
Assets and Liabilities:
- Total Assets: $102,638,988
- Total Liabilities: $64,004,368
- Net Assets: $38,634,620
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Sales of Electric Energy
Revenue
$31,053,232
Late Payment Charges
Revenue
$108,665
Service Charge & Other Elec
Revenue
$9,621
Organization Details
Founding Year
1935
Phone
(320) 762-1121Principal Officer
Alan Haman
Main Address
6839 Power Lane SW, Alexandria, MN, 56308
Website
www.runestoneelectric.comNTEE Category
Code: W80 - Public benefit
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