Overview
What is Lake Country Power?
Lake Country Power is a cooperative based in Cohasset, Minnesota, with an address at 26039 Bear Ridge Drive. This nonprofit organization serves a community of 43,980 members, providing them with essential electric and other services. The mission of Lake Country Power is to ensure the delivery of safe and reliable electricity while managing resources wisely and contributing positively to the communities they serve. With a workforce of 153 dedicated individuals, they strive to maintain a strong commitment to their members and the local area.
Official website here: www.lakecountrypower.coop
Is Lake Country Power legitimate?
Lake Country Power is a legitimate nonprofit organization registered as a 501(c)(12) entity. Lake Country Power 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: $1,066,185
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.lakecountrypower.coop
What is the mission statement of Lake Country Power?
Lake Country Power is committed to providing electricity and other essential services to its cooperative members. In delivering these services, the organization prioritizes safety and reliability. Moreover, it wisely manages member resources and goes beyond electricity, aiming to contribute to the prosperity of the communities it serves.
Official website here: www.lakecountrypower.coop
Who is the CEO of Lake Country Power?
Mark Bakk is the Treasurer of Lake Country Power.
Official website here: www.lakecountrypower.coop
What is the revenue of Lake Country Power?
Lake Country Power's revenue in 2022 was $110,864,875.
Official website here: www.lakecountrypower.coop
Who are the executives of Lake Country Power and what are their salaries?
The average compensation at Lake Country Power during 2022 was $6,969. There are 153 employees at Lake Country Power.
Here are 17 key members and their salaries:
- Compensation: $12,900
- Related: $0
- Other: $0
- Compensation: $14,400
- Related: $0
- Other: $0
- Compensation: $4,833
- Related: $0
- Other: $0
- Compensation: $16,800
- Related: $0
- Other: $0
- Compensation: $4,533
- Related: $0
- Other: $0
- Compensation: $17,100
- Related: $0
- Other: $0
- Compensation: $10,500
- Related: $0
- Other: $0
- Compensation: $15,600
- Related: $0
- Other: $0
- Compensation: $18,000
- Related: $0
- Other: $0
- Compensation: $329,599
- Related: $0
- Other: $121,045
- Compensation: $225,356
- Related: $0
- Other: $105,633
- Compensation: $197,923
- Related: $0
- Other: $49,863
- Compensation: $185,383
- Related: $0
- Other: $93,007
- Compensation: $166,276
- Related: $0
- Other: $58,821
- Compensation: $169,209
- Related: $0
- Other: $30,304
- Compensation: $163,348
- Related: $0
- Other: $17,371
- Compensation: $172,328
- Related: $0
- Other: $19,701
Official website here: www.lakecountrypower.coop
Where can I find the form 990 for Lake Country Power?
Lake Country Power's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.lakecountrypower.coop
Learn more at the official website: www.lakecountrypower.coop
Mission Statement of Lake Country Power
Lake Country Power, a cooperative, is dedicated to providing electricity and other essential services to its 43,980 members. In doing so, the organization strives to deliver safe and reliable electric service, ensuring the well-being of those it serves. Beyond powering homes and businesses, Lake Country Power also manages resources wisely and contributes to the prosperity of its communities. By focusing on the needs of its members, Lake Country Power aims to foster growth and development in the areas it serves. Its commitment to quality electricity and resource management sets it apart as a trusted partner for its cooperative members.
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Impact
October, 2024
Lake Country Power plays a significant role in delivering safe and reliable electric service to its members. Serving approximately 43,980 members, the cooperative ensures a consistent and dependable supply of electricity, which is vital for daily life and local economies. By managing resources wisely, Lake Country Power not only meets the energy needs of its community but also contributes to the prosperity of the area it serves. The cooperative's commitment to community well-being enhances the quality of life for residents while fostering a sense of shared responsibility and collaboration among its members.
This information is meant to be a general summary of Lake Country Power. 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: $74,375
- Program Service Revenue: $108,745,308
- Gross Receipts: $111,715,693
Assets and Liabilities:
- Total Assets: $369,734,330
- Total Liabilities: $245,319,527
- Net Assets: $124,414,803
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RESIDENTIAL SALES-RURAL
Revenue
$80,800,788
COMMERCIAL SALES
Revenue
$17,407,974
INDUSTRIAL SALES
Revenue
$9,642,643
FORFEITED DISC/PENALTIES
Revenue
$300,383
RENT-ELECTRIC PROPERTY
Revenue
$181,066
Organization Details
Founding Year
1996
Phone
(218) 742-5751Principal Officer
Mark Bakk
Main Address
26039 BEAR RIDGE DRIVE, COHASSET, MN, 55721
Website
www.lakecountrypower.coopNTEE Category
Code: W80 - Public benefit
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