Mille Lacs Energy Cooperative
Aitkin, MN 56431 · IRS data through FY2025
Revenue, expenses and net assets
Revenue Expenses Net assets
| Tax year | Revenue | Expenses | Net assets |
|---|---|---|---|
| FY2025 | $37,222,762 | $35,707,265 | $41,674,642 |
| FY2024 | $32,345,600 | $31,632,285 | $37,180,888 |
| FY2023 | $32,476,630 | $31,688,640 | $34,918,883 |
| FY2022 | $29,203,634 | $28,814,017 | $32,241,837 |
| FY2021 | $29,692,681 | $29,538,691 | $31,268,280 |
| FY2020 | $28,320,088 | $27,799,006 | $30,323,271 |
| FY2019 | $29,742,616 | $28,318,487 | $30,041,051 |
| FY2018 | $27,117,494 | $27,467,494 | $29,518,852 |
| FY2017 | $26,043,531 | $26,543,529 | $28,538,356 |
| FY2016 | $25,005,997 | $25,005,997 | $27,889,457 |
| FY2015 | $24,193,613 | $24,193,613 | $27,551,005 |
| FY2014 | $26,706,042 | $26,706,042 | $27,139,522 |
| FY2013 | $25,483,534 | $25,483,534 | $25,062,136 |
| FY2012 | $24,295,372 | $24,295,372 | $20,606,507 |
Form 990 filings
The returns filed by Mille Lacs Energy Cooperative (EIN 41-0411772), including Form 990 PDFs and e-file data by year, are available in ProPublica's Nonprofit Explorer. The figures on this page come from IRS data files built from those returns.
Where the revenue came from
| Source | Amount | % of revenue |
|---|---|---|
| Contributions & grants | $0 | 0% |
| Program service revenue | $33,853,448 | 91% |
| Other revenue | $3,369,314 | 9% |
What the numbers show
- Program service revenue made up 91% of total revenue in FY2025.
- Net assets covered about 14 months of expenses at the end of the reporting year. That puts it in the 50th percentile among 121 Public & Societal Benefit organizations in MN.
- Total revenue was higher than 99.2% of 121 Public & Societal Benefit organizations in MN.
- Total revenue rose from $24,295,372 in FY2012 to $37,222,762 in FY2025. Revenue increased in 9 and decreased in 4 of 13 year-over-year comparisons.
- Expenses exceeded revenue in 2 of 14 reported years (FY2017, FY2018).
- Net assets grew from $20,606,507 to $41,674,642 between FY2012 and FY2025.
Figures compared against other organizations of the same NTEE program area in the same state. See the methodology page for how these are calculated and the guide to reading nonprofit financials for their limits.
About this organization
PROVIDES ELECTRIC DISTRIBUTION SERVICE TO 13,742 MEMBERS OF THE COOPERATIVE.
IRS status
| Ruling year | 1941 |
| Subsection | 501(c)(12) |
| Program area (NTEE) | W80Z — Public & Societal Benefit |
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Source: Internal Revenue Service — Exempt Organizations Business Master File (downloaded November 4, 2026), Statistics of Income extracts, Form 990 e-file data, Publication 78 and the Automatic Revocation list. Figures are as reported by the organization; IRS processing may adjust them. This is not a charity rating and not tax advice. Confirm deductibility in IRS Tax Exempt Organization Search.
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