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MINNESOTA VALLEY ELECTRIC COOPERATIVE
MINNESOTA VALLEY ELECTRIC COOPERATIVE
MN · EIN 410419150
32
Executives Disclosed
$108.3M
Annual Revenue
$268.8M
Total Assets
3.2:1
Internal Pay Ratio
MINNESOTA VALLEY ELECTRIC COOPERATIVE has 32 executives with disclosed compensation. The highest-paid executive, Marvin Denzer (CEO), received peak total compensation of $677,998.
Top Executive Compensation Over Time
Executive Compensation
| Name | Title | Peak Comp. | Latest Comp. | Years | vs. Household |
|---|---|---|---|---|---|
| Marvin Denzer | CEO | $678K | $679K | 2016–2024 | 9x |
| Roger Geckler | GENERAL MANAGER | $605K | $605K | 2016–2016 | 8.1x |
| Ryan Hentges | CEO - THROUGH FEB 2023 | $446K | $0 | 2016–2023 | 5.9x |
| Michael Dietz | VP OF OPERATIONS | $276K | $277K | 2020–2024 | 3.7x |
| Gerald Mareck | VP FINANCE (RETIRED APRIL 2021) | $264K | $152K | 2016–2021 | 3.5x |
| Joanne Kolb | CFO - THROUGH MARCH 2023 | $261K | $0 | 2021–2023 | 3.5x |
| Terri Bakken | VP MEMBER SERVICES | $257K | $258K | 2016–2024 | 3.4x |
| Ryan Fedie | VP ENERGY SERVICES THRU SEPT 2024 | $249K | $221K | 2022–2024 | 3.3x |
| Stuart Haefner | FOREMAN - LEAD | $246K | $246K | 2019–2024 | 3.3x |
| Randy Erdman | VP OF FINANCE | $230K | $231K | 2023–2024 | 3.1x |
| Joseph Jutz | FOREMAN - CONSTRUCTION | $227K | $227K | 2021–2024 | 3x |
| Brandi Adelmann | DIRECTOR OF HUMAN RESOURCES | $218K | $219K | 2022–2024 | 2.9x |
| James Schwalbe | FOREMAN - LEAD | $211K | $211K | 2019–2019 | 2.8x |
| Lee Hoese | FOREMAN - MAINTENANCE | $211K | $211K | 2017–2021 | 2.8x |
| Sarah Peterson | VP OF ENGINEERING | $210K | $211K | 2022–2024 | 2.8x |
| Daryl Hoffman | VP OPERATIONS | $205K | $197K | 2016–2017 | 2.7x |
| Bryan Ott | MAINTENANCE | $203K | $203K | 2016–2021 | 2.7x |
| Steven Volek | FOREMAN | $201K | $201K | 2016–2020 | 2.7x |
| Curt Cordt | ENGINEERING MANAGER | $189K | $190K | 2017–2020 | 2.5x |
| Eddie Webster | VP CORPORATE SERVICES | $181K | $182K | 2017–2018 | 2.4x |
| Randy Breeggeemann | FOREMAN | $170K | $170K | 2016–2016 | 2.3x |
| Brent Lawrence | DIRECTOR | $22K | $0 | 2016–2024 | 0.3x |
| Deborah Erickson | PRESIDENT | $22K | $0 | 2016–2024 | 0.3x |
| Michelle Morrison | DIRECTOR | $19K | $0 | 2016–2024 | 0.3x |
| Thomas Wolf | VICE PRESIDENT | $19K | $0 | 2016–2024 | 0.2x |
| Elizabeth Krocak | SECRETARY/TREASURER | $19K | $0 | 2023–2024 | 0.2x |
| Frances Barten | VICE PRESIDENT (RETIRED) | $19K | $0 | 2016–2023 | 0.2x |
| Gary Haberman | DIRECTOR | $19K | $0 | 2016–2024 | 0.2x |
| Kevin Gibbs | DIRECTOR | $18K | $0 | 2016–2024 | 0.2x |
| James Connelly | DIRECTOR | $18K | $0 | 2016–2024 | 0.2x |
| William Heinlein | DIRECTOR (RETIRED) | $18K | $0 | 2016–2023 | 0.2x |
| Michael Lins | DIRECTOR | $18K | $0 | 2023–2024 | 0.2x |
Annual Summary
| Year | Executives | Avg. Comp. | Highest Comp. | Total Payroll |
|---|---|---|---|---|
| 2016 | 18 | $263K | $605K | $1.8M |
| 2017 | 17 | $203K | $269K | $1.6M |
| 2018 | 17 | $210K | $275K | $1.7M |
| 2019 | 17 | $227K | $307K | $1.8M |
| 2020 | 17 | $242K | $351K | $1.9M |
| 2021 | 18 | $240K | $395K | $2.2M |
| 2022 | 17 | $262K | $446K | $2.1M |
| 2023 | 22 | $253K | $486K | $2.0M |
| 2024 | 18 | $285K | $679K | $2.6M |
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