Overview
What is Traverse Electric Cooperative Inc?
Traverse Electric Cooperative Inc is a Minnesota-based nonprofit organization, with a mailing address at 1618 Broadway, PO Box 66, Wheaton, MN 56296. With a team of 16 dedicated employees, this electric cooperative provides electric services to approximately 2,242 members, managing an average of 3,202 active electric accounts. Their mission is to deliver electric power to their members at the most affordable rates, adhering to sound business principles. The cooperative is committed to offering electric service, ensuring a low-cost solution for its community.
Official website here: www.traverseelectric.com
What are the reviews and ratings of this charity?
Traverse Electric Cooperative Inc is not currently rated by Charity Navigator due to its lack of a 501(c)(3) status. This limitation means the cooperative cannot be assessed using Charity Navigator's beacons for Accountability & Finance, Leadership & Adaptability, Culture & Community, or Impact & Measurement. As such, the absence of a rating is not inherently indicative of the cooperative's performance or reputation.
Although historical ratings from Charity Navigator generally considered aspects similar to today's Accountability and Finance score, details like total revenue, expenses, and salaries of key persons are not currently available for Traverse Electric Cooperative Inc. This makes it challenging to evaluate financial transparency and administrative efficiency comprehensively.
Given that Traverse Electric Cooperative Inc is not a 501(c)(3) organization, it operates independently outside the usual charity framework assessed by Charity Navigator. Without user reviews from GreatNonprofits, specific stakeholder experiences or testimonials are unavailable, which might otherwise provide additional insights into the cooperative's community impact or service quality.
This AI summary has been generated from information found on Charity Navigator.
Is Traverse Electric Cooperative Inc legitimate?
Traverse Electric Cooperative Inc is a legitimate nonprofit organization registered as a 501(c)(12) entity. Traverse Electric Cooperative Inc 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: $540,975
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.traverseelectric.com
What is the mission statement of Traverse Electric Cooperative Inc?
Traverse Electric Cooperative Inc is dedicated to providing electric service at the most affordable rates for its members. Its mission is to deliver electricity while adhering to sound business principles. The cooperative serves a customer base of 2,242 members, with an average of 3,202 active electric services. By focusing on cost efficiency, Traverse Electric Cooperative Inc aims to ensure that affordable electricity is accessible to all its members.
Official website here: www.traverseelectric.com
Who is the CEO of Traverse Electric Cooperative Inc?
Douglas Diekmann is the President of Traverse Electric Cooperative Inc.
Official website here: www.traverseelectric.com
What is the revenue of Traverse Electric Cooperative Inc?
Traverse Electric Cooperative Inc's revenue in 2022 was $13,733,233.
Official website here: www.traverseelectric.com
Who are the executives of Traverse Electric Cooperative Inc and what are their salaries?
The average compensation at Traverse Electric Cooperative Inc during 2022 was $33,811. There are 16 employees at Traverse Electric Cooperative Inc.
Here are 15 key members and their salaries:
- Compensation: $3,875
- Related: $0
- Other: $0
- Compensation: $6,063
- Related: $0
- Other: $0
- Compensation: $2,625
- Related: $0
- Other: $0
- Compensation: $1,625
- Related: $0
- Other: $0
- Compensation: $5,750
- Related: $0
- Other: $0
- Compensation: $3,750
- Related: $0
- Other: $0
- Compensation: $4,188
- Related: $0
- Other: $0
- Compensation: $4,375
- Related: $0
- Other: $0
- Compensation: $4,500
- Related: $0
- Other: $0
- Compensation: $4,750
- Related: $0
- Other: $0
- Compensation: $198,299
- Related: $0
- Other: $97,780
- Compensation: $116,220
- Related: $0
- Other: $87,176
- Compensation: $101,180
- Related: $0
- Other: $61,996
- Compensation: $113,603
- Related: $0
- Other: $84,737
- Compensation: $105,187
- Related: $0
- Other: $42,694
Official website here: www.traverseelectric.com
Where can I find the form 990 for Traverse Electric Cooperative Inc?
Traverse Electric Cooperative Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.traverseelectric.com
Learn more at the official website: www.traverseelectric.com
Mission Statement of Traverse Electric Cooperative Inc
Traverse Electric Cooperative Inc, a dedicated electric cooperative, is committed to delivering electric service to its members at the most affordable rates, adhering to sound business principles. The cooperative's primary mission is to provide dependable and economical electric power to its 2,242 members, serving an average of 3,202 active electric services. By focusing on affordability, Traverse Electric Cooperative Inc ensures that it remains a reliable energy partner for its community. Through its unwavering commitment to cost efficiency, the cooperative aims to provide essential electric services while maintaining a strong financial footing.
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Impact
October, 2024
Traverse Electric Cooperative Inc has a significant impact on its community by delivering reliable electric service to its 2,242 members in Wheaton, Minnesota. Focusing on providing electricity at the lowest possible rates, the cooperative ensures that its members have access to affordable power, which is essential for everyday life and local economic stability. With an average of 3,202 active electric services, the cooperative plays a crucial role in supporting households and businesses alike, fostering growth and contributing to the overall well-being of the region. By adhering to sound business principles while prioritizing cost-efficiency, Traverse Electric Cooperative not only meets the energy needs of its members but also enhances public benefit, promoting a sustainable future for its community.
This information is meant to be a general summary of Traverse Electric Cooperative Inc. 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: $110,484
- Program Service Revenue: $12,181,691
- Gross Receipts: $13,952,260
Assets and Liabilities:
- Total Assets: $36,319,243
- Total Liabilities: $19,638,031
- Net Assets: $16,681,212
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
ELECTRIC SERVICE
Revenue
$12,181,691
Organization Details
Founding Year
1940
Phone
(320) 563-8616Principal Officer
Douglas Diekmann
Main Address
1618 BROADWAY PO BOX 66, WHEATON, MN, 562960066
Website
www.traverseelectric.comNTEE Category
Code: W80 - Public benefit
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