2024-10-02T13:03:44-05:00 2023-12-31 410746749 CLIFTONLARSONALLEN LLP 2689 COMMERCE DRIVE NW SUITE 201 ROCHESTER MN 55901 990 2023-01-01 390783977 CENTRAL WISCONSIN ELECTRIC COOPERATIVE CENT 7156772211 PO BOX 100 ROSHOLT WI 54473 LILA A MALVIK-SHOWER PRESIDENT/CEO 7156772211 2024-09-25 1 1 KATHERINE LUTZKE CPA P01760889 5072802300 2024-09-25 2023 2024-10-15 13:58:12Z LILA A MALVIK-SHOWER PO BOX 100 ROSHOLT WI 54473 19993828 0 X HTTP://WWW.CWECOOP.COM/ X 1938 WI TO PROVIDE RELIABLE ELECTRIC ENERGY AND RELATED SERVICES TO MEMBERS UNDER COOPERATIVE PRINCIPLES. 7 7 26 0 1517 0 0 0 18096492 19336326 205479 214070 368710 435535 18670681 19985931 0 0 1040420 2598136 416010 437080 0 0 0 17097276 16803866 18553706 19839082 116975 146849 63650466 65573452 42313412 41669686 21337054 23903766 WE ARE YOUR TRUSTED ENERGY PARTNER AND PROVIDER OF VALUED COMMUNITY SUPPORT. 0 0 THE COOPERATIVE SOLD 100,579,706 KWH OF ELECTRICITY TO MEMBERS DURING 2023. IN CONNECTION WITH THE COOPERATIVE'S MISSION THE COOPERATIVE CONTINUES TO PROVIDE RELIABLE, AFFORDABLE ENERGY, AND OTHER SERVICES OF MERIT IN A SAFE AND ENVIRONMENTALLY RESPONSIBLE MANNER TO RESPOND TO THE GROWING NEEDS OF OUR COMMUNITIES AND THOSE WE SERVE. 0 0 0 0 0 0 0 0 0 1 0 1 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 1 27 0 1 26 1 1 1 0 0 0 0 20429968 741236 0 0 0 X 7 7 0 0 0 0 1 1 0 1 0 0 0 1 1 1 1 1 1 1 1 0 X LILA MALVIK-SHOWER 7156772211 10401 LYSTUL ROAD ROSHOLT WI 54473 TOM SMITH CHAIRMAN 13.27 0.00 X X 16000 0 0 LOUIS OPPOR VICE CHAIR 10.42 0.00 X X 13100 0 0 ALLEN ZANDER SECRETARY 8.53 0.00 X X 16050 0 0 MICHAEL SCHULTZ DIRECTOR 5.99 0.00 X 10800 0 0 LEE LEHRER DIRECTOR 5.60 0.00 X 11850 0 0 RONALD ONESTI DIRECTOR 9.01 0.00 X 12950 0 0 SUE ROMBALSKI DIRECTOR 9.70 0.00 X 12950 0 0 LILA A MALVIK-SHOWER PRESIDENT/CEO 50.00 0.00 X 128427 0 99981 MICHAEL WADE PRESIDENT/CEO (THROUGH MARCH) 50.00 0.00 X 65613 0 49358 JARRET BROW LINEMAN/JOURNEYMAN 40.00 0.00 X 117685 0 54234 KEVIN KURZWEIL VP OF OPERATIONS & ENGINEE 50.00 0.00 X 129323 0 89561 CHRIS TUSZKE LINEMAN 40.00 0.00 X 113036 0 89300 WYATT PHILLIPS LINEMAN/JOURNEYMAN 40.00 0.00 X 113837 0 49274 DENNIS MAGEE ASSISTANT OPERATIONS MANAGER 40.00 0.00 X 103910 0 95863 865531 0 527571 10 0 1 0 ZIELIE'S TREE SERVICE PO BOX 307 BRUCE WI 54819 BRUSHING & SPRAYING 619883 AJ CONTRUCTION 3532 PLAYBIRD ROAD SHEBOYGAN WI 53083 CABLE TRENCHING 459680 2 SALE OF POWER 221000 19336326 19336326 19336326 214070 214070 13440 0 13440 13440 13440 8301 7897 404 404 CAPITAL CREDITS 523000 240504 240504 ATC - REVENUE 900099 175219 175219 DBS K-1 INCOME 900099 1113 1113 4855 4855 421691 19985931 19756904 1517 227510 X 2598136 437080 1396862 1766377 COST OF POWER 8956919 MAINTENANCE EXPENSE 1531442 OPERATIONS EXPENSE 1145755 CONSUMER ACCOUNTS 632472 1374039 19839082 768200 1123191 2488067 2552010 777650 595058 891004 849175 345289 294965 76817137 25712254 48436512 51104883 795543 785968 9148201 8268202 63650466 65573452 1284683 1002460 260520 570520 39579014 38822807 1189195 1273899 42313412 41669686 X 0 0 2049064 805808 19287990 23097958 21337054 23903766 63650466 65573452 X 146849 2419863 X 0 1 X 1 0 224098 224098 4982070 1299652 3682418 71610969 24412602 47198367 51104883 INVESTMENTS IN NRUCFC NOTES 2606544 C INVESTMENT IN ATC, LLC 3460119 C OTHER ASSOCIATED ORGANIZATIONS 1825117 C INVESTMENT IN CFC PAPER 376422 C 8268202 CUSTOMER DEPOSITS 46914 OTHER LIABILITIES 288889 ACCRUED INTEREST 302440 ACCRUED PAYROLL 316168 ACCRUED GROSS REVENUE TAX 319488 1273899 X PART X, LINE 2: THE COOPERATIVE IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(12) OF THE INTERNAL REVENUE CODE (IRC). THERE IS NO PROVISION FOR INCOME TAXES AT DECEMBER 31, 2023 AND 2022. THE COOPERATIVE AND ITS SUBSIDIARY EVALUATED THEIR TAX POSITIONS AND DETERMINED THAT THERE ARE NO UNCERTAIN TAX POSITIONS AS OF DECEMBER 31, 2023 AND 2022. X 0 0 0 LILA A MALVIK-SHOWER PRESIDENT/CEO 128427 0 0 0 0 0 64488 0 35493 0 228408 0 0 0 KEVIN KURZWEIL VP OF OPERATIONS & ENGINEE 129323 0 0 0 0 0 68714 0 20847 0 218884 0 0 0 CHRIS TUSZKE LINEMAN 113036 0 0 0 0 0 50972 0 38328 0 202336 0 0 0 DENNIS MAGEE ASSISTANT OPERATIONS MANAGER 103910 0 0 0 0 0 62880 0 32983 0 199773 0 0 0 JARRET BROW LINEMAN/JOURNEYMAN 117685 0 0 0 0 0 16230 0 38004 0 171919 0 0 0 WYATT PHILLIPS LINEMAN/JOURNEYMAN 113837 0 0 0 0 0 19847 0 29427 0 163111 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 ORGANIZATION IS A MEMBER COOPERATIVE. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERSHIP VOTES ON THE BOARD OF DIRECTORS. THERE ARE SEVEN DIRECTORS AND THEY REPRESENT THE MEMBERSHIP. FORM 990, PART VI, SECTION A, LINE 8B THE ORGANIZATION DOES NOT HAVE ANY COMMITTEES THAT HAVE AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B THE 990 IS REVIEWED BY THE CEO AND THE MANAGER OF ACCOUNTING AND FINANCE. THE MANAGER OF ACCOUNTING AND FINANCE PRESENTS THE 990 FORM TO THE BOARD OF DIRECTORS FOR THEIR REVIEW. FORM 990, PART VI, SECTION B, LINE 12C OFFICERS, DIRECTORS, AND KEY EMPLOYEES ARE TO INFORM THE CEO AND/OR THE CHAIRPERSON OF THE BOARD IF HE OR SHE HAS A POTENTIAL CONFLICT OF INTEREST. ANY PERSON WITH A CONFLICT WOULD BE PROHIBITED FROM PARTICIPATING IN THE DELIBERATIONS AND DECISIONS IN THE TRANSACTIONS. THE PRESIDEND/CEO IS RESPONSIBLE FOR ADMINISTRATION OF THE POLICY. THE BOARD OF DIRECTORS ARE RESPONSIBLE FOR THE ENFOREMENT OF THIS POLICY. CONFLICTS ARE DOCUMENTED IN THE BOARD MINUTES. FORM 990, PART VI, SECTION B, LINE 15 THE CEO'S COMPENSATION IS DETERMINED & APPROVED BY THE BOARD OF DIRECTORS. COMPENSATION IS COMPARED TO WAGE STUDIES PERFORMED BY THE NRECA (NATIONAL RURAL ELECTRIC COOPERATIVE ASSOCIATION). WAGES ARE COMPARED TO THE STATE AVERAGE OF THE INDUSTRY. THIS PROCESS IS DOCUMENTED IN THE BOARD MINUTES. THESE PROCESSES ARE COMPLETED ANNUALLY, LAST OCCURING IN 2023. FORM 990, PART VI, SECTION C, LINE 19 THE COOPERATIVE MAKES ITS MINUTES, BYLAWS, AND GOVERNANCE INFORMATION AVAILABLE TO THE PUBLIC BY MAKING THIS INFORMATION AVAILABLE UPON REQUEST. THE FINANCIAL STATEMENTS ARE PUBLISHED ANNUALLY AND DISTRIBUTED AT AN ANNUAL MEETING FOR MEMBERS. FORM 990, PART IX, LINE 4: THE IRS INSTRUCTIONS STATE THAT PATRONAGE DIVIDENDS PAID BY SECTION 501(C)(12) ORGANIZATIONS TO THEIR MEMBERS SHOULD BE REPORTED ON LINE 4. THE ORGANIZATION HAS INTERPRETED PATRONAGE DIVIDENDS PAID TO MEAN PATRONAGE DIVDENDS ALLOCATED OR TO BE ALLOCATED FOR THE CURRENT YEAR. SINCE THIS ALLOCATION IS NOT AN EXPENSE UNDER GENERALLY ACCEPTED ACCOUNTING PRINCIPLES (GAAP), THIS HAS RESULTED IN A RECONCILING ITEM TO NET ASSETS IN PART XI ON PAGE 12 OF THE FORM 990 AND IN PARTS XI AND XIII ON SCHEDULE D. FORM 990, PART XI, LINE 9: ATC K-1 NET INCOME ADJUSTMENT 106,679. DBS K-1 NET INCOME ADJUSTMENT 41,032. NET CHANGE IN EQUITIES FOR RETIREMENTS -225,861. NET CHANGE IN NON-OPERATING MARGINS -100,123. PATRONAGE DIVIDEND ALLOCATED 2,598,136. CWEC SERVICES LLC 10401 LYSTUL ROAD ROSHOLT WI 54473 760760302 GASOLINE WI 4856 100772 CENTRAL WISCONSIN ELECTRIC COOPERATIVE 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 NO TRANSACTIONS GREATER THAN 50000