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MINNKOTA POWER COOPERATIVE INC
MINNKOTA POWER COOPERATIVE INC
ND · EIN 450166406
46
Executives Disclosed
$472.0M
Annual Revenue
$1192.0M
Total Assets
4.1:1
Internal Pay Ratio
MINNKOTA POWER COOPERATIVE INC has 46 executives with disclosed compensation. The highest-paid executive, Robert McLennan (President & CEO), received peak total compensation of $1,251,192.
Top Executive Compensation Over Time
Executive Compensation
| Name | Title | Peak Comp. | Latest Comp. | Years | vs. Household |
|---|---|---|---|---|---|
| Robert McLennan | President & CEO | $1.3M | $1.3M | 2016–2023 | 16.7x |
| Lowell Stave | Vice President and COO | $503K | $503K | 2016–2023 | 6.7x |
| Karen Thingelstad | Vice President and CFO | $483K | $483K | 2016–2020 | 6.4x |
| Gerad Paul | General Counsel-VP of Legal, Compliance & Risk Mgmt | $445K | $445K | 2016–2023 | 5.9x |
| Jami Hovet | Vice President of Administration | $387K | $387K | 2020–2023 | 5.2x |
| Kay Schraeder | Vice President and CFO | $379K | $379K | 2020–2023 | 5x |
| Todd Sailer | Vice President of Power Supply | $369K | $369K | 2016–2023 | 4.9x |
| Craig Bleth | Vice President of Project Development | $367K | $367K | 2017–2023 | 4.9x |
| Michael Hennes | Vice President Transmission | $354K | $354K | 2016–2016 | 4.7x |
| Dan Inman | Vice President and CISO | $351K | $351K | 2016–2023 | 4.7x |
| John Graves | Environmental Policy Advisor | $332K | $332K | 2016–2016 | 4.4x |
| Brendan Kennelly | Vice President of Power Delivery | $330K | $330K | 2016–2023 | 4.4x |
| Gerry Pfau | Senior Manager of Project Development | $309K | $305K | 2016–2022 | 4.1x |
| Timothy Sanger | Database Administrator | $305K | $305K | 2018–2018 | 4.1x |
| Craig Rustad | Accounting Manager | $303K | $303K | 2018–2018 | 4x |
| Andrew Sorbo | Vice President Strategic Initiatives | $298K | $298K | 2022–2023 | 4x |
| Shannon Mikula | Environmental Manager | $288K | $288K | 2023–2023 | 3.8x |
| Stacey Dahl | Vice President of External Affairs | $287K | $287K | 2022–2023 | 3.8x |
| Dale Toman | Plant Operations and Maintenance Manager | $281K | $281K | 2016–2016 | 3.7x |
| Grant Gunderson | Senior Manager Resource Planning | $277K | $277K | 2017–2023 | 3.7x |
| Theresa Brorby | Senior Manager of Audit & Risk | $257K | $257K | 2019–2023 | 3.4x |
| Andrew Freidt | Senior Manager of Power Production | $255K | $255K | 2022–2023 | 3.4x |
| Tim Hagerott | Senior Manager of Product Development | $255K | $255K | 2022–2023 | 3.4x |
| Dale Morseth | Line Worker | $232K | $232K | 2018–2018 | 3.1x |
| Tim Bartel | Power Delivery Business Administrator | $216K | $216K | 2016–2017 | 2.9x |
| Les Windjue | Board Member | $25K | $0 | 2017–2023 | 0.3x |
| Rick Coe | Board Member | $22K | $0 | 2016–2023 | 0.3x |
| Lee McLaughlin | Board Member | $20K | $0 | 2016–2017 | 0.3x |
| Kalvin Hoff | Board Member | $20K | $0 | 2022–2023 | 0.3x |
| Mark Habedank | Board Chair | $19K | $0 | 2019–2023 | 0.2x |
| Colette Kujava | Board Secretary/Treasurer | $18K | $0 | 2016–2023 | 0.2x |
| Collin Jensen | Board Member | $18K | $0 | 2016–2020 | 0.2x |
| Donald Skjervheim | Board Member Former | $16K | $0 | 2016–2021 | 0.2x |
| Greg Spaulding | Board Member | $16K | $0 | 2020–2022 | 0.2x |
| Steve Arnesen | Board Member | $15K | $0 | 2016–2023 | 0.2x |
| Mike Wahl | Board Member | $15K | $0 | 2020–2023 | 0.2x |
| Jeffrey Folland | Board Member | $15K | $0 | 2016–2019 | 0.2x |
| Anthony Ottem | Board Member | $14K | $0 | 2021–2023 | 0.2x |
| Russell Okeson | Board Member | $14K | $0 | 2016–2019 | 0.2x |
| Sid Berg | Board Member | $14K | $0 | 2016–2020 | 0.2x |
| Leroy Riewer | Board Member | $13K | $0 | 2016–2020 | 0.2x |
| Roger Krostue | Board Member | $13K | $0 | 2016–2023 | 0.2x |
| Tom Woinarowicz | Board Vice Chair | $11K | $0 | 2020–2023 | 0.2x |
| Marcy Svenningsen | Board Member | $10K | $0 | 2020–2022 | 0.1x |
| Cheryl Grover | Board Member | $3K | $0 | 2023–2023 | 0x |
| Terry Diffley | Board Member | $2K | $0 | 2016–2016 | 0x |
Annual Summary
| Year | Executives | Avg. Comp. | Highest Comp. | Total Payroll |
|---|---|---|---|---|
| 2016 | 24 | $315K | $698K | $3.8M |
| 2017 | 23 | $314K | $734K | $3.5M |
| 2018 | 23 | $334K | $780K | $4.0M |
| 2019 | 23 | $344K | $829K | $3.8M |
| 2020 | 27 | $359K | $903K | $4.7M |
| 2021 | 24 | $371K | $1.0M | $4.4M |
| 2022 | 28 | $362K | $1.2M | $5.8M |
| 2023 | 27 | $394K | $1.3M | $6.3M |