Corn Belt Power Cooperative
Humboldt, IA · EIN 42-0655796 · Rank 3,269 by total revenue
Generating and transmitting electrical energy to our members.
Money, Form 990 for tax year 2025
- Total revenue
- $179,857,821
- Total expenses
- $177,333,272
- Total assets
- $600,300,691
- Salary base (all salaries and wages)
- $8,514,780
- Salaries, other pay and benefits
- $12,897,504
- Employees
- 94
- Salary base per employee
- $90,583
"Salary base" is Form 990 Part IX lines 5 to 7. "Employees" is everyone who got a W-2 that year, full or part time. Form 990-EZ and 990-PF report pay differently; see About the data.
Leadership (15)
| Name | Title | Role | Hours/week | Total pay |
|---|---|---|---|---|
| Jacob Olberding | Executive VP and General Manager | Officer | 40 | $359,278 |
| Michael Finnegan | VP Engineering and System Operations | Officer | 40 | $342,302 |
| Michael Thatcher | VP Power Supply | Officer | 40 | $276,395 |
| Ryan Cornelius | VP Corporate Relations | Officer | 40 | $240,528 |
| Brittany Dickey | VP Business Development | Officer | 40 | $235,280 |
| Faith Warden | VP Finance and Administration | Officer | 40 | $233,135 |
| Larry Rohach | Treasurer | Board, Officer | 7 | $18,200 |
| Dale Schaefer | Vice President | Board, Officer | 7 | $16,400 |
| Gary Poppe | Asst Secretary/Treasurer | Board, Officer | 5 | $14,800 |
| Jerry Beck | Secretary | Board, Officer | 6 | $10,200 |
| David Onken | President | Board, Key employee | 10 | $27,600 |
| Rick Thompson | Director | Board | 3 | $15,600 |
| Brad Honold | Director | Board | 7 | $14,800 |
| Steve Boedecker | Director | Board | 3 | $13,800 |
| Ted Hall | Director | Board | 5 | $10,800 |
Top 10 paid people listed
These 10 people received $2,501,531, which is 29.4% of the $8,514,780 salary base shared by 94 employees.
| Name | Title | Role | Hours/week | From this org | From related orgs | Other pay | Total |
|---|---|---|---|---|---|---|---|
| Jacob Olberding | Executive VP and General Manager | Officer | 40 | $303,671 | $0 | $55,607 | $359,278 |
| Michael Finnegan | VP Engineering and System Operations | Officer | 40 | $193,950 | $0 | $148,352 | $342,302 |
| Michael Thatcher | VP Power Supply | Officer | 40 | $225,869 | $0 | $50,526 | $276,395 |
| Patrick Connor | Plant Manager | Highly paid employee | 40 | $174,195 | $0 | $86,193 | $260,388 |
| Ryan Cornelius | VP Corporate Relations | Officer | 40 | $210,017 | $0 | $30,511 | $240,528 |
| Brittany Dickey | VP Business Development | Officer | 40 | $189,476 | $0 | $45,804 | $235,280 |
| Faith Warden | VP Finance and Administration | Officer | 40 | $201,067 | $0 | $32,068 | $233,135 |
| Larry Brusseau | Compliance Director | Highly paid employee | 40 | $154,989 | $0 | $53,188 | $208,177 |
| Brad Hill | Communications Superintendent | Highly paid employee | 40 | $143,318 | $0 | $38,983 | $182,301 |
| Jon Behounek | Chief System Operator | Highly paid employee | 40 | $145,033 | $0 | $18,714 | $163,747 |
Sources
- IRS e-file return 202620969349300417 (Form 990, period ending 2025-12-31): readable copy at ProPublica Nonprofit Explorer
- IRS Tax Exempt Organization Search for EIN 42-0655796
- Organization website (as filed): www.cbpower.coop