Runestone Telephone Association: Nonprofit Profile, Financials & Form 990 (EIN 41-0733426)

Revenue by fiscal year
FY2020	$11.1M
FY2021	$11.5M
FY2022	$11.8M
FY2023	$12.4M
FY2024	$13.0M
FY2025	$13.0M

Expenses by fiscal year
FY2020	$9.1M
FY2021	$10.6M
FY2022	$8.3M
FY2023	$10.5M
FY2024	$10.8M
FY2025	$12.2M

Net assets by fiscal year
FY2020	$27.9M
FY2021	$30.8M
FY2022	$32.1M
FY2023	$35.3M
FY2024	$38.5M
FY2025	$40.9M

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Mar 1963.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Who runs it and what they're paid

9 people listed on the 990; $731K paid to officers and key staff (Part VII, Section A).

Part VII, Section A · reportable compensation

Kent Hedstrom

General Manager/CEO

$279,560Pt VII · Sec A

Russ Froemming

Network Technician

$140,263Pt VII · Sec A

Ryan Schonhardt

Office Manager/CFO

$129,529Pt VII · Sec A

Chris Veldhouse

Outside Plant Manager

$117,137Pt VII · Sec A

John Kapphahn

Secretary/Treasurer

$13,680Pt VII · Sec A

Richard Staples

Director

$13,080Pt VII · Sec A

Robert Leegaard

President

$12,780Pt VII · Sec A

Tory Belgum

Vice President

$12,780Pt VII · Sec A

Compensation history total reportable pay by year · 8 named individuals · Part VII

Name	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020
Kent Hedstrom	$279,560	$275,532	$268,580	$213,495	$187,725	$204,703
Jeanne Meidl	—	—	—	—	$146,497	$146,931
Russ Froemming	$140,263	$132,986	$129,552	$109,167	—	—
Ryan Schonhardt	$129,529	$126,111	$115,198	$109,884	$111,705	$106,560
Chris Veldhouse	$117,137	$114,642	$105,283	—	—	—
Clayton Drews	—	—	—	—	—	$106,000
Robert Leegaard	$12,780	$12,780	$13,680	$12,480	$11,880	$12,180
John Kapphahn	$13,680	$12,240	$13,230	$12,180	$11,880	$12,180

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Runestone Telephone Association executive salaries →

Questions the 990 asks

The form asks each of these directly. These are the filed answers.

Family or business ties among officersPt VI · Ln 2No
Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Offers dependable phone and internet services to cooperative members.

Questions for Runestone Telephone Association

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1 program · in their own filed words · FY2025

01

Provision of telephone, internet and cable television services to cooperative members.

Pt IX · Ln 25 · col B

By the numbers

The FY2025 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$13.0M

Ln 12

Fees for servicesLn 2g$12.7M

Other incomeLn 4–11$189K

Investment incomeLn 3$170K

Money outPt IX

$12.2M

Ln 25

Owns and owesPt X

$40.9M

net assets · Ln 32

Cash and savingsLn 1–2$5.9M

Total assetsLn 16$42.7M

LiabilitiesLn 26$1.8M

PeoplePt VI, VII

9

listed · VII A

PaidVII A9

Voting boardVI 1a5

IndependentVI 1b5

2In more detail

Revenue in detailPt VIII

Fees for servicesLn 2g$12.7M

Investment incomeLn 3$170K

Other incomeLn 4–11$189K

Total revenueLn 12$13.0M

Assets in detailPt X, end of year

CashLn 1$1.3M

SavingsLn 2$4.6M

Cash and savings togetherLn 1–2$5.9M

Accounts receivableLn 4$3.5M

Notes and loans receivableLn 7$133K

Prepaid expenses and deferred chargesLn 9$115K

Land, buildings, equipmentLn 10c$22.4M

InvestmentsLn 11–13$986K

Other assetsLn 15$9.8M

Total assetsLn 16$42.7M

LiabilitiesLn 26$1.8M

Net assetsLn 32$40.9M

OperationsPt I, VI

EmployeesI 527

VolunteersI 60

Fiscal year endsHeaderDecember

Conflict-of-interest policyVI 12aYes

Whistleblower policyVI 13No

Records policyVI 14No

3Year over year

Balance sheet, start vs end of yearPt X · col A, B

Line	Start FY25	End FY25
Cash and savingsLn 1–2	$5.5M	$5.9M
InvestmentsLn 11–13	$995K	$986K
Land, buildings, equipmentLn 10c	$21.6M	$22.4M
Total assetsLn 16	$40.2M	$42.7M
LiabilitiesLn 26	$1.8M	$1.8M
Net assetsLn 32	$38.5M	$40.9M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Benefits paid to or for membersLn 4	$3.7M
Pay of officers and key staff (Part IX, line 5)Ln 5	$432K
Pension plan contributionsLn 8	$390K
Legal feesLn 11b	$7K
Accounting feesLn 11c	$260K
Advertising and promotionLn 12	$97K
Depreciation, depletion and amortizationLn 22	$2.9M
Other expenses (24a–d)Ln 24	$3.2M
All other expensesLn 24e	$1.2M
Total functional expensesLn 25	$12.2M

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2025 Latest ViewingFiled with the IRS Jul 15, 2026	$13.0M	$12.2M	$874K	$40.9M	990 PDF
FY2024Filed with the IRS Jun 18, 2025	$13.0M	$10.8M	$2.2M	$38.5M	990 PDF
FY2023Filed with the IRS Jun 17, 2024	$12.4M	$10.5M	$1.9M	$35.3M	990 PDF
FY2022Filed with the IRS Jun 21, 2023	$11.8M	$8.3M	$3.5M	$32.1M	990 PDF
FY2021Filed with the IRS Jun 22, 2022	$11.5M	$10.6M	$911K	$30.8M	990 PDF
FY2020Filed with the IRS Jul 15, 2021	$11.1M	$9.1M	$1.9M	$27.9M	990 PDF

Schedules filed Part IV

D · Assets and endowments J · Pay O · Explanations

See the full FY2025 990

Part I · Summary $13,028,526 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $0$0

I-9 Program service revenuePrior year $12,648,751$12,669,387

I-10 Investment incomePrior year $172,934$169,855

I-11 Other revenuePrior year $173,052$189,284

I-12 Total revenuePrior year $12,994,737$13,028,526

I-13 Grants and similar amounts paidPrior year $0$0

I-14 Benefits paid to membersPrior year $2,908,137$3,681,084

I-15 Salaries and benefitsPrior year $773,912$822,187

I-16a Professional fundraising feesPrior year $0$0

I-17 Other expensesPrior year $7,122,715$7,651,172

I-18 Total expensesPrior year $10,804,764$12,154,443

I-19 Revenue less expensesPrior year $2,189,973$874,083

Part VI · Governance 5 of 5 board members independent, 2 to look at

VI-1a Voting members of the governing body5

VI-1b Independent voting members5

VI-13 Written whistleblower policyNo

VI-14 Document retention and destruction policyNo

VI-2 Family or business relationship among officers or directorsNo

VI-12a Written conflict of interest policyYes

VI-15a Process for setting top official's payYes

Part VIII · Statement of revenue $13,028,526 across 5 lines filed

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $12,665,297 · Unrelated business $4,090$12,669,387

VIII-3 Investment incomeExcluded from tax $169,855$169,855

VIII-6 Net rental income or lossRelated to mission $35,763 · Unrelated business $24,084$59,847

VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $129,437$129,437

VIII-12 Total revenueRelated to mission $12,830,497 · Unrelated business $28,174 · Excluded from tax $169,855$13,028,526

Part IX · Statement of functional expenses $12,154,443 across 9 lines filed

IX-4 Benefits paid to or for members$3,681,084

IX-5 Pay of officers and key staff (Part IX, line 5)$432,250

IX-8 Pension plan contributions$389,937

IX-11b Legal fees$7,140

IX-11c Accounting fees$260,449

IX-12 Advertising and promotion$96,575

IX-22 Depreciation, depletion and amortization$2,943,541

IX-24 Other expenses (24a–d)$3,180,151

IX-24e All other expenses$1,163,316

IX-25 Total functional expenses$12,154,443

Part X · Balance sheet $42,708,452 assets, 18 lines filed

X-1 Cash, non-interest-bearingStart of year $1,250,720$1,301,486

X-2 Savings and temporary cash investmentsStart of year $4,208,840$4,597,688

X-4 Accounts receivableStart of year $1,351,493$3,460,072

X-7 Notes and loans receivableStart of year $187,950$132,940

X-9 Prepaid expenses and deferred chargesStart of year $122,350$115,357

X-10c Land, buildings and equipment, netStart of year $21,554,769$22,361,923

X-12 Other securitiesStart of year $994,990$986,125

X-15 Other assetsStart of year $10,559,463$9,752,861

X-16 Total assetsStart of year $40,230,575$42,708,452

X-17 Accounts payable and accrued expensesStart of year $965,189$862,685

X-19 Deferred revenueStart of year $0$131,014

X-25 Other liabilitiesStart of year $807,473$831,323

X-26 Total liabilitiesStart of year $1,772,662$1,825,022

X-29 Capital stock or trust principalStart of year $0$0

X-30 Paid-in or capital surplusStart of year $16,401,901$17,139,535

X-31 Retained earnings or endowmentStart of year $22,056,012$23,743,895

X-32 Total net assets or fund balancesStart of year $38,457,913$40,883,430

X-33 Total liabilities and net assetsStart of year $40,230,575$42,708,452

Part XI · Reconciliation of net assets $40,883,430 net assets at year end

XI-1 Total revenue$13,028,526

XI-2 Total expenses$12,154,443

XI-3 Revenue less expenses$874,083

XI-4 Net assets at start of year$38,457,913

XI-9 Other changes in net assets$1,551,434

XI-10 Net assets at end of year$40,883,430

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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