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Organizations Lake Region Electric Cooperative

Lake Region Electric Cooperative

Fiscal year ending 2024. Filed on September 30, 2025.

PO Box 643
Pelican Rapids, Minnesota 56572

Lake Region Electric Cooperative (EIN: 41-0363020) has filed an IRS Form 990 since at least fiscal year 2016. In its fiscal year 2024 IRS Form 990 filing, Lake Region Electric Cooperative, a 501(c)(12) mutual or cooperative insurance or utility provider, reported compensation for 8 out of 84 total employees. Among the employees shown here, the average compensation is $239,271. The highest compensated employee at Lake Region Electric Cooperative is Tim Thompson with fiscal year 2024 compensation of $511,357.

Revenue, expenses, and employee compensation

Revenue

$59,514,606

Expenses

$57,663,270

Employee compensation

$1,026,678
Revenue, expenses, and employee compensation over time

Reported Compensated Employees

Tim Thompson
Chief Executive Officer
$511,357
$345,442 No related comp$165,915
Al Fazio
Vice President of Engineering/Operatings
$268,152
$174,327 No related comp$93,825
Donald Hanson
LEAD Journeyman Lineworker
$202,160
$140,764 No related comp$61,396
Dylan Aafedt
Vice President of Business Solutions
$193,526
$165,539 No related comp$27,987
Amanda Fuller
Chief Financial Officer and Vice President, Finance
$188,850
$161,241 No related comp$27,609
Phillip Bollingberg
Journeyman Lineworker
$186,196
$141,002 No related comp$45,194
Erik Olson
Journeyman Lineworker
$182,734
$138,720 No related comp$44,014
Kyle Jensen
LEAD Journeyman Lineworker
$181,195
$138,079 No related comp$43,116

Benchmark Employee Compensation

Non-Employee Board Members

Kurt Krueger
Vice Chair
$15,640
$15,640 No related compNo other comp
Thomas Jennen
Chair
$14,700
$14,700 No related compNo other comp
Cecil Hensel
Secretary and Treasurer
$14,280
$14,280 No related compNo other comp
Jim Gronbeck
Director
$13,760
$13,760 No related compNo other comp
Charlie Blixt
Director
$12,120
$12,120 No related compNo other comp
Gary Olson
Director
$11,080
$11,080 No related compNo other comp
Lee Mindemann
Director (Joined 4/25/24)
$10,830
$10,830 No related compNo other comp
Michael Brasel
Director
$9,580
$9,580 No related compNo other comp
Patrick Meyers
Director
$9,540
$9,540 No related compNo other comp
Earl Rydell
Director (Termed 4/25/24)
$4,130
$4,130 No related compNo other comp

Contractors

Carr's Tree Service Inc.
Tree Clearing
$2,235,311
Highline Construction Inc
Poles Work Order Outage Restoration
$528,018
Arvig Construction Inc.
Plowing/Boring/Contract Work for Plant
$416,480
Mvm Contracting Inc.
Plowing/Boring for Underground Cable
$196,276
Ripley's Inc.
Plowing/Boring for Underground Cable
$169,055

Mission Statement

TO PROVIDE OUR MEMBERS WITH SAFE, RELIABLE, AFFORDABLE ELECTRICITY, AND LEAD BY OFFERING INNOVATIVE ENERGY SERVICES TO GROW THE COOPERATIVE.

Revisions to this organization profile

September 30, 2025:
2024 Lake Region Electric Cooperative 990 filed
October 3, 2024:
2023 Lake Region Electric Cooperative 990 filed
September 15, 2023:
2022 Lake Region Electric Cooperative 990 filed

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Lake Region Electric Cooperative Inc.
Hulbert, Oklahoma
Lake Region Electric Cooperative Foundation Inc.
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