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LAKE REGION ELECTRIC COOPERATIVE
LAKE REGION ELECTRIC COOPERATIVE
MN · EIN 410363020
36
Executives Disclosed
$59.5M
Annual Revenue
$155.6M
Total Assets
2.6:1
Internal Pay Ratio
LAKE REGION ELECTRIC COOPERATIVE has 36 executives with disclosed compensation. The highest-paid executive, Tim Thompson (CEO), received peak total compensation of $511,357.
Top Executive Compensation Over Time
Executive Compensation
| Name | Title | Peak Comp. | Latest Comp. | Years | vs. Household |
|---|---|---|---|---|---|
| Tim Thompson | CEO | $511K | $513K | 2016–2024 | 6.8x |
| Al Fazio | VICE PRESIDENT OF ENGINEERING/OPERATINGS | $268K | $270K | 2016–2024 | 3.6x |
| Jason Haman | LEAD JOURNEYMAN LINEWORKER | $224K | $206K | 2018–2023 | 3x |
| Donald J Hanson | LEAD LINEMAN | $221K | $200K | 2016–2022 | 3x |
| Daniel Husted | VP OF ENERGY SVCS/COMM | $219K | $219K | 2016–2020 | 2.9x |
| Paul Bergren | SUPERINTENDENT - PELICAN RAPIDS | $213K | $214K | 2023–2023 | 2.8x |
| Joseph Belz | OPERATIONS MANAGER | $206K | $160K | 2016–2019 | 2.7x |
| Donald Hanson | LEAD JOURNEYMAN LINEWORKER | $202K | $203K | 2023–2024 | 2.7x |
| Dylan Aafedt | VICE PRESIDENT OF BUSINESS SOLUTIONS | $194K | $195K | 2021–2024 | 2.6x |
| Amanda Fuller | VICE PRESIDENT OF FINANCE/CFO | $189K | $190K | 2023–2024 | 2.5x |
| Phillip Bollingberg | JOURNEYMAN LINEWORKER | $186K | $187K | 2024–2024 | 2.5x |
| Erik Olson | JOURNEYMAN LINEWORKER | $183K | $184K | 2022–2024 | 2.4x |
| Tim Hart | ELECTRONICS SYSTEM SUPERVISOR | $182K | $182K | 2023–2023 | 2.4x |
| Kyle Jensen | LEAD JOURNEYMAN LINEWORKER | $181K | $182K | 2024–2024 | 2.4x |
| Lloyd Nelson | CFO - PART YEAR | $168K | $0 | 2016–2019 | 2.2x |
| Jed Evenson | LEAD LINEMAN | $150K | $150K | 2017–2021 | 2x |
| Brian Johnson | LEAD LINEMAN | $136K | $0 | 2016–2016 | 1.8x |
| Thomas Jennen | CHAIRMAN | $17K | $0 | 2016–2024 | 0.2x |
| Charles Kvare | CHAIR - PART YEAR | $17K | $0 | 2016–2020 | 0.2x |
| Kurt Krueger | VICE CHAIR | $16K | $0 | 2021–2024 | 0.2x |
| Sid Wisness | VICE CHAIR | $15K | $0 | 2016–2022 | 0.2x |
| Cecil Hensel | SECRETARY/TREASURER | $14K | $0 | 2020–2024 | 0.2x |
| Jim Gronbeck | DIRECTOR | $14K | $0 | 2023–2024 | 0.2x |
| Earl Rydell | DIRECTOR (TERMED 4/25/24) | $13K | $0 | 2016–2024 | 0.2x |
| Patrick Meyers | DIRECTOR | $13K | $0 | 2020–2024 | 0.2x |
| Michael Brasel | DIRECTOR | $13K | $0 | 2020–2024 | 0.2x |
| Dennis Tollefson | VICE CHAIR/DIRECTOR - PART YEAR | $13K | $0 | 2016–2021 | 0.2x |
| Robert Shaw | TREASURER | $12K | $0 | 2016–2022 | 0.2x |
| Charlie Blixt | DIRECTOR | $12K | $0 | 2022–2024 | 0.2x |
| Joyce Valley | SECRETARY | $12K | $0 | 2016–2022 | 0.2x |
| Gary Olson | DIRECTOR | $11K | $0 | 2022–2024 | 0.1x |
| Lee Mindemann | DIRECTOR (JOINED 4/25/24) | $11K | $0 | 2024–2024 | 0.1x |
| Dennis Mathiason | DIRECTOR - PART YEAR | $11K | $0 | 2016–2020 | 0.1x |
| Kenneth Hendrickx | DIRECTOR - PART YEAR | $9K | $0 | 2016–2019 | 0.1x |
| Sidney Wisness | VICE CHAIR (TERMED 4/25/23) | $6K | $0 | 2023–2023 | 0.1x |
| Mike Brasel | DIRECTOR | $5K | $0 | 2019–2019 | 0.1x |
Annual Summary
| Year | Executives | Avg. Comp. | Highest Comp. | Total Payroll |
|---|---|---|---|---|
| 2016 | 16 | $224K | $350K | $1.1M |
| 2017 | 16 | $233K | $404K | $1.4M |
| 2018 | 16 | $216K | $391K | $1.5M |
| 2019 | 17 | $230K | $408K | $1.4M |
| 2020 | 17 | $268K | $451K | $1.3M |
| 2021 | 16 | $238K | $474K | $1.4M |
| 2022 | 17 | $251K | $490K | $1.5M |
| 2023 | 18 | $245K | $480K | $1.7M |
| 2024 | 18 | $241K | $513K | $1.9M |
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