2024-05-09T16:40:57-07:00 2023-12-31 990 2023-01-01 390154234 BAYFIELD ELECTRIC COOPERATIVE BAYF 7153724287 PO BOX 68 IRON RIVER WI 54847 Sara Anderson Chief Financial Officer 7153724287 2024-05-09 Sara Anderson 999009999 1 1 11 0 AAL2 2023 2023-04-26 12:10:37Z X Christopher Kopel PO Box 68 Iron River WI 54847 15276420 0 X www.bayfieldelectric.com X 1940 WI Electric Energy Distribution 9 9 20 0 0 0 0 302180 15225740 14532950 17720 16802 371167 424488 15614627 15276420 0 0 456051 370897 2890311 2355168 0 0 0 12271132 12073270 15617494 14799335 -2867 477085 40635209 41601216 26793624 27435581 13841585 14165635 Committed to provide safe, reliable, and affordable electricity to rural areas through superior customer service. 0 0 14799335 15276420 To provide electrical energy to its members 0 0 0 14799335 0 0 0 0 0 0 0 0 0 1 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 16 0 20 1 0 0 0 0 0 14704714 130416 0 0 0 X 9 9 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 WI X Sara Anderson 7153724287 68460 District Street Iron River WI 54847 Christopher Kopel CEO 40 0 X X X 213737 0 77044 Robert Lahti Operations Manager 40 0 X 127971 0 61067 Sara Anderson CFC 40 0 X X 125757 0 61109 Jacob Hipsher Member Service Director 40 0 X 116770 0 56543 Amanda Kavajecz Biling Specialist 59.5 0 X 126015 0 43544 Dustin McKay Lineman 48.2 0 X 121134 0 42339 Keith Klobucher Lineman 46.5 0 X 119571 0 42385 Matthew Tarasewicz Lineman 48.85 0 X 128934 0 29745 Keith Kavajecz Lineman 46 0 X 114917 0 42358 Adam Waddle Lineman 46.45 0 X 114913 0 42346 Kenneth Koosman Lineman 47 0 X 112663 0 42302 Troy Seeger Line Foreman 46.7 0 X 129419 0 24026 Elliot Powers Lineman 45.6 0 X 110356 0 40898 Blake Reijo Lineman 46.70 0 X 118327 0 32011 Barry Radloff Director 4.60 4 X 8450 0 24030 Mark Santikko President 6.56 0 X X 10500 0 0 Curtis Berweger Secretary/Treasurer 5 0 X X 10200 0 0 James Kinzie Director 7.65 0 X 9950 0 0 Michael Neslon Director 6.46 0 X 9700 0 0 Roy Settgas Director 5.73 0 X 8950 0 0 Carl Schutte Director 4.94 0 X 8700 0 0 Russell Bailey Vice President 4.63 0 X X 7700 0 0 Robert Kretzschmar Director 4.21 0 X 7700 0 0 1862334 0 661747 14 0 1 1 Zielie's Tree Service 28190 State Hwy 137 Ashland WI 54806 Right-away clearing 999229 Coleman Engineering Company 635 Circle Dr Iron Mountain MI 49801 Surveying 119051 2 X 0 0 0 0 302180 0 0 302180 Operating Revenue 221122 14532950 14532950 0 0 0 0 0 0 14532950 16802 16802 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Non-operating Revenue 221122 15382 15382 0 0 Capital Credit Patronage 221122 409106 409106 0 0 0 0 0 0 424488 15276420 14974240 0 0 X 370897 1862334 262925 37047 38754 154108 18040 39040 39629 53182 167244 69018 0 4681 785637 0 1655031 Gross Revenue Taxes 273047 Cost of Power 6590371 Dues to Member Organizations 58770 Uncollectible Accounts 1484 2318096 14799335 0 0 0 2544737 2001278 443 1119 1725432 1672800 693977 1783362 155909 129961 62510312 33288342 28961440 29221970 6553271 6790726 40635209 41601216 1007722 740930 23779232 24709775 2006670 1984876 26793624 27435581 X 42265 42515 0 0 13799320 14123120 13841585 14165635 40635209 41601216 X 477085 0 0 0 0 -153035 X 1 1 0 0 130282 0 130282 5517539 0 919785 4597754 0 0 0 0 51451646 0 30775162 20676484 5410845 0 1593395 3817450 29221970 Non-Utility Property 133753 Investments in Associated Organizations Patronage Capital 5862554 Investments in Associated Organizations - Other Non-General Funds 528992 Investment in Economic Loans 3084 Other Investments 262343 6790726 Consumer Deposits 63563 Other Current and Accrued Liabilities 535026 Other Deferred Credits 974369 Accumulated Employee Benefits 288833 Other Deferred Member Credit Balances 123085 1984876 X 14835130 0 0 0 0 0 14835130 0 441290 441290 15276420 14799335 0 0 0 0 0 14799335 0 0 0 14799335 Schedule D, Part X, Line 2 The cooperative has evaluated its income tax position and determined that they have no uncertain tax positions that need to be recorded or reported in the financial statements as of December 31, 2022 and 2023. Schedule D, Part XI, Line 4b Capital Credits $409,106 plus Non-operating Margins of Interest Income $16,802 plus other non-operating Income of $15,382 for a total of $441,290. X 0 0 0 Christopher Kopel CEO 213737 0 0 0 77074 0 0 0 0 0 290811 0 0 0 Schedule J, Part I, Line 3 The board of directors determine the wages of the CEO with the guidance of a labor attorney. Barry Radloff Director 24030 Purchase Power 0 Schedule L, Part I, Line 1 Barry Radloff, a Director for Dairyland Power Cooperative, is a Board Member with Bayfield Electric Cooperative. Form 990, Part VI, Section A, Line 6 The organization is a cooperative and has memberships. The cooperative association is organized without capital stock and is only one class of members with respect to voting districts. Form 990, Part VI, Section A, Line 7a The members from each district of the cooperative shall elect a director to serve a three-year term commencing at the date of the annual meeting of the members. Each year three of the nine districts are up for re-election. Form 990, Part VI, Section A, Line 7b Each active membership shall be entitled to one vote for the voting needs at the member's annual meeting held with the guidelines of the bylaws each year. Form 990, Part VI, Section B, Line 11b The process used by the organization to review the Form 990 occurs annually, at a board meeting with the entire board will review and discuss the return. Form 990, Part VI, Section B, Line 12c The written conflict of interest policy is reviewed annually at a board meeting. If any board members have a conflict throughout the year, it is their duty to abstain from voting on a matter and notify the board it is due to a conflict. Form 990, Part VI, Section B, Line 15 The process used to determine compensation of the top official and officers is to review the compensation and goals met by personnel and discuss in an executive session of the board. At this time the current board only reviews the CEO compensation. The CEO determines the wages of all other non-union staff. Form 990, Part VI, Section C, Line 19 The organization makes its governing documents, conflicts of interest policy and financial statements available upon request. Form 990, Part VIII, Line 1f Grants Received from Wisconsin Emergency Management for $87,407.16 and additional funds Funded Project for $214,772.84 for a total of $302,180. Form 990, Part IX, Line 24e Other expenses include general expense not categorized in above lines. Form 990, Part XI, Line 9 Includes a change in Non-operating Margins of -$179 and a Comprehensive income of -$153,107 and the addition of the change in additional new memberships of $250 and no change for other equities for the total of -$153,036 in other changes of net income.