The Iowa Lakes Electric Member-Owner Charitable Foundation is a non-profit, 501c3 Corporation that administers the funds from Iowa Lakes Electric Cooperative's Operation Round Up program.
The Iowa Lakes Electric Member-Owner Charitable Foundation Board of Directors is made up of volunteer member-owners from each of the eight counties in your Cooperative's service territory. The Foundation's 2018 board members include the following: Chairperson Janet Deim, Swea City; Vice Chairperson Jarrett Smith, Spencer; Secretary John Boettcher, Spirit Lake; Treasurer Dan Sievers, Storm Lake; Robert Beneke, Palmer; Ruth Brown, Ruthven; Bruce Chrestiansen, Estherville and Lynn Winterhof, Aurelia.
The Foundation's Board of Directors will meet quarterly in January, April, July and October to review the grant applications. Grant applications can be filled out online or we have them at our headquarters office in Estherville.
How Operation Round Up Works
Iowa Lakes Electric Cooperative rounds up the electric bills of participating member-owners to the nearest dollar amount. For example, if a bill is $92.73, a member will pay $93, with all 27 cents going directly to the Iowa Lakes Electric Member-Owner Charitable Foundation. On average, a member-owners account will contribute less than $6 a year, but no more than $11.88.
Operation Round Up is strictly voluntary. If a member-owner decides not to participate or chooses to discontinue contributions at any time, they may simply contact Iowa Lakes Electric Cooperative and opt-out.
Donations to Operation Round Up are tax deductible and both monthly and year-to-date donations will be printed on the member's monthly billing statement.
Iowa Lakes Electric Cooperative will print in its quarterly newsletter, ILEC News, the donations the Iowa Lakes Electric Member-Owner Charitable Foundation makes from the Operation Round Up funds.
Operation Round Up Facts
- Average annual member donation is just under $6.00 or +50¢ per month
- Together 50¢ donations make a huge difference
- Funds collected are transferred and held in a separate Operation Round Up Account
- Foundation Board meets four times per year to distribute funds
- Foundation Board functions separately from your Cooperative's Board of Directors
- Operation Round Up is unique to electric cooperatives
- Started in 1989 by Palmetto Electric Cooperative in South Carolina
- More than 260 cooperatives nationwide now participate
Grant Application Deadline July 1
To have your grant be considered at the July Foundation Board meeting, completed grant applications must be received in Iowa Lakes Electric Cooperative's office by July 1.
Operation Round Up Application Deadlines
July 1, 2018 │ October 1, 2018 │ January 1, 2019 │ April 1, 2019