2024-10-31T12:55:49-05:00 2023-12-31 450310328 BRADY MARTZ & ASSOCIATES PC PO BOX 14296 GRAND FORKS ND 582084296 990 2023-01-01 410404900 MEEKER COOPERATIVE LIGHT & POWER ASSOCIATION MEEK 3206933231 1725 US HWY 12 E STE 100 LITCHFIELD MN 55355 SCOTT FROEMMING FINANCE MANAGER 3206933231 2024-10-29 1 1 DAVID HOLT P00014251 7017754685 2024-10-28 2023 2024-10-15 13:58:12Z MEEKER COOPERATIVE SCOTT FROEMMING 1725 US HWY 12 E STE 100 LITCHFIELD MN 55355 31504656 0 X WWW.MEEKER.COOP X 1935 MN TO ENERGIZE AND CONNECT THE COOPERATIVE'S MEMBERS AND CUSTOMERS, ENHANCING THEIR LIVES 9 9 50 0 1357590 81338 0 0 25387352 25824187 160409 196672 4024229 5325511 29571990 31346370 0 0 2758238 3423574 706737 938808 0 0 0 26328244 27566314 29793219 31928696 -221229 -582326 113346809 120230995 78673793 83518859 34673016 36712136 TO ENERGIZE AND CONNECT THE COOPERATIVE'S MEMBERS AND CUSTOMERS, ENHANCING THEIR LIVES. 0 0 PROVIDING SAFE, RELIABLE ENERGY AND OTHER VALUE ADDED SERVICES TO 7,998 MEMBERS. 0 0 0 0 0 0 0 0 0 1 0 1 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 64 0 1 50 1 1 1 0 0 0 0 28326838 3176276 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 X SCOTT FROEMMING 3206933231 1725 US HWY 12 E STE 100 LITCHFIELD MN 553550068 X JAMES ELLINGSON DIRECTOR (STARTED 11/27/23) 1.20 X 680 0 0 KAREN L BECKER DIRECTOR 5.46 X 9210 0 0 KEVIN ISSENDORF PRESIDENT (THRU 7/31/23) 4.64 X 5790 0 0 DAVID LEONHARDI DIRECTOR (STARTED 9/25/23) 4.14 X 1655 0 0 MARK LARSON TREASURER (THRU 4/24/23) 5.20 X 2390 0 0 NEIL PEARSON DIRECTOR (STARTED 4/24/23) 6.70 X 6915 0 0 PAUL BUGBEE DIRECTOR 4.04 X 8185 0 0 RANDY BRYANT DIRECTOR 3.92 X 7355 0 0 BRADLEY DONNAY VICE PRESIDENT 6.50 X 10805 0 0 STEPHEN PLAISANCE DIRECTOR (THRU 6/26/23) 5.52 X 3575 0 0 JESSE TURCK DIRECTOR 4.06 X 8650 0 0 LARRY HUHN DIRECTOR 5.96 X 9655 0 0 SCOTT FROEMMING FINANCE MANAGER 44.00 X 151318 0 41761 LUKE JOHNSON CEO (EFFECTIVE 03/31/23) 50.00 X 244345 0 67472 TIMOTHY N MERGEN CEO/GENERAL MANAGER (THRU 3/31/23) 69.70 X 352282 0 7885 ALLEN RESMEN FOREMAN 42.60 X 126290 0 44470 STEVEN KOSBAB ENERGY SERVICES MANAGER 46.40 X 155532 0 37860 JOHN GRABOW FOREMAN 43.00 X 118946 0 38932 DANIEL SCHRUPP OPERATIONS SUPERVISOR 42.90 X 138730 0 64883 LOGAN JOSEPHSON FOREMAN 42.81 X 123642 0 28045 1485950 0 331308 19 0 1 0 HIGHLINE CONSTRUCTION INC 16124 OLD LAKE ROAD PAYNESVILLE MN 56362 LINE AND BROADBAND CONSTRUCTION AND MAIN 4821053 RATH UNDERGROUND LLC 6941 HOLLY LANE N MAPLE GROVE MN 55311 UNDERGROUND LINE CONSTRUCTION 1156552 STAR ENERGY SERVICES LLC PO BOX 1677 MONTICELLO MN 55362 ENGINEERING SERVICES 606980 PULSE BROADBAND LLC 2121 COOPERATIVE WAY SUITE 600 HERNDON VA 20171 BROADBAND CONSULTING AND MANAGEMENT SERV 239854 TREESTORY INC PO BOX 676 DASSEL MN 55325 TREE TRIMMING AND VEGETATION CONTROL SER 239250 5 ELECTRIC REVENUE 221000 25824187 25824187 25824187 184631 184631 78820 53498 25322 25322 25322 30000 17959 12041 12041 12041 83356 86829 -3473 -3473 VIBRANT BROADBAND 900099 4003244 2737016 1266228 CAPITAL CREDITS 900099 1200960 1200960 INCOME FROM PARTNERSHIPS 900099 94835 94835 4623 4623 5303662 31346370 29804149 1357590 184631 X 3423574 938808 2180253 2425962 COST OF POWER 13497195 DIST. EXP. - MAINTENANC 6267239 ADMIN & GENERAL EXP 1052988 CUST. SERVICE & INFORMA 953184 1189493 31928696 521446 239597 1779253 4214549 4148738 11293 22180 4148616 4320183 218000 211696 132346784 35041482 89391183 97305302 12875911 13761961 898 494 185660 220844 113346809 120230995 7929086 6901362 1900000 70569313 73682363 175394 1035134 78673793 83518859 X 0 0 0 0 34673016 36712136 34673016 36712136 113346809 120230995 X -582326 2621446 X 0 1 X 1 1 1 1219082 1219082 5608455 2472175 3136280 117476541 32569307 84907234 8042706 8042706 97305302 INVESTMENTS IN ASSOCIATED ORGANIZATIONS 13761961 C 13761961 CONSUMER DEPOSITS 179050 CONTINGENT LIABILITY 856084 1035134 X 27298732 15200 15200 27283532 4062838 4062838 31346370 24517078 -3988044 -3988044 28505122 3423574 3423574 31928696 PART X, LINE 2: INCOME TAXES: THE COOPERATIVE IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES UNDER 501(C)(12) OF THE INTERNAL REVENUE CODE. THE COOPERATIVE'S POLICY IS TO EVALUATE THE LIKELIHOOD THAT ITS UNCERTAIN TAX POSITIONS WILL PREVAIL UPON EXAMINATION BASED ON THE EXTENT TO WHICH THOSE POSITIONS HAVE SUBSTANTIAL SUPPORT WITHIN THE INTERNAL REVENUE CODE AND REGULATIONS, REVENUE RULINGS, COURT DECISIONS, AND OTHER EVIDENCE. ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES: IT IS THE OPINION OF MANAGEMENT THAT THE COOPERATIVE HAS NO SIGNIFICANT UNCERTAIN TAX POSITIONS THAT WOULD BE SUBJECT TO CHANGE UPON EXAMINATION. THE FEDERAL INCOME TAX RETURNS OF THE COOPERATIVE ARE SUBJECT TO EXAMINATION BY THE IRS, GENERALLY FOR THREE YEARS AFTER THEY WERE FILED. ALL FILINGS ARE CURRENT. PART XI, LINE 2D - OTHER ADJUSTMENTS: WATER HEATER REBATES 15,200. PART XI, LINE 4B - OTHER ADJUSTMENTS: BOOK TO TAX DIFFERENCES ON K-1'S 59,594. VIBRANT BROADBAND 4,003,244. PART XII, LINE 2D - OTHER ADJUSTMENTS: VIBRANT BROADBAND -4,003,244. WATER HEATER REBATES 15,200. PART XII, LINE 4B - OTHER ADJUSTMENTS: ALLOCATED CAPITAL CREDITS 3,423,574. X X X 0 0 0 TIMOTHY N MERGEN CEO/GENERAL MANAGER (THRU 3/31/23) 73316 0 0 0 278966 0 4500 0 4029 0 360811 0 0 0 LUKE JOHNSON CEO (EFFECTIVE 03/31/23) 203705 0 50 0 40590 0 48749 0 20111 0 313205 0 0 0 DANIEL SCHRUPP OPERATIONS SUPERVISOR 126433 0 5050 0 7247 0 46160 0 19761 0 204651 0 0 0 STEVEN KOSBAB ENERGY SERVICES MANAGER 146610 0 0 0 8922 0 29590 0 9514 0 194636 0 0 0 SCOTT FROEMMING FINANCE MANAGER 141818 0 7550 0 1950 0 23038 0 20023 0 194379 0 0 0 ALLEN RESMEN FOREMAN 120625 0 50 0 5615 0 25747 0 19672 0 171709 0 0 0 JOHN GRABOW FOREMAN 118598 0 50 0 298 0 20604 0 19276 0 158826 0 0 0 LOGAN JOSEPHSON FOREMAN 123284 0 50 0 308 0 9322 0 19672 0 152636 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 MEEKER COOPERATIVE IS A NON-PROFIT 501(C)(12) CORPORATION OPERATING AS A COOPERATIVE. THE OWNERS OF MEEKER COOPERATIVE ARE THE MEMBERS WHO HAVE EQUAL VOTING RIGHTS. EACH MEMBER HAS ONE VOTE. FORM 990, PART VI, SECTION A, LINE 7A MEEKER COOPERATIVE HAS NINE DISTRICTS. THE MEMBERS OF MEEKER COOPERATIVE VOTE TO ELECT THE DIRECTOR WITHIN THEIR DISTRICT. DIRECTORS ELECTED FROM EACH DISTRICT MAKE UP THE GOVERNING BODY AND SERVE THE MEMBERSHIP AT LARGE. FORM 990, PART VI, SECTION A, LINE 7B THE VOTING MEMBERS OF THE COOPERATIVE APPROVE ANY AMENDMENTS TO THE BY-LAWS GOVERNING MEEKER COOPERATIVE. THE GOVERNING BODY OF THE COOPERATIVE ADHERES TO THIS GOVERNING DOCUMENT. FORM 990, PART VI, SECTION B, LINE 11B A COPY OF THE 990 IS PRESENTED TO THE BOARD OF DIRECTORS AT A REGULARLY SCHEDULED BOARD MEETING. THE DOCUMENT IS ACCEPTED BY THE BOARD OF DIRECTORS. THE 990 IS THEN FILED. THE FORM 990 IS ALSO REVIEWED BY THE CEO AND THE FINANCIAL MANAGER. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY IS REVIEWED ANNUALLY. ANNUALLY, THE BOARD OF DIRECTOR COMPLETES AND SIGNS A CONFLICT OF INTEREST CERTIFICATION AND DISCLOSURE FORM. FORM 990, PART VI, SECTION B, LINE 15 CEO JOB PERFORMANCE APPRAISAL AND COMPENSATION IS REVIEWED ANNUALLY. EACH DIRECTOR EVALUATES THE CEO INDIVIDUALLY BASED ON EIGHT CRITERIA. INDIVIDUAL APPRAISALS ARE COMPILED INTO A FINAL APPRAISAL WHICH IS THEN COVERED WITH THE CEO. THE NRECA COMPENSATION SURVEY IS ANALYZED AND USED TO MAKE COMPARATIVE SALARY ADJUSTMENTS. FORM 990, PART VI, SECTION C, LINE 19 THE BYLAWS ARE AVAILABLE ON MEEKER COOPERATIVE'S WEBSITE. THE ANNUAL FINANCIAL STATEMENT IS PRESENTED AT THE ANNUAL MEETING TO THE MEMBERSHIP. GOVERNING DOCUMENTS, FINANCIAL STATEMENTS, POLICIES AND FORM 990 ARE AVAILABLE UPON REQUEST TO THE PUBLIC. FORM 990, PART VII: OFFICER AND DIRECTOR COMPENSATION REPORTED ON PART IX, LINE 5 DOES NOT EQUAL THE TOTAL COMPENSATION REPORTED ON PART VII, LINE 1B FOR THESE INDIVIDUALS. THE DIFFERENCE OF $16,362 IS DUE TO THE DIFFERENCE BETWEEN THE CURRENT YEAR CONTRIBUTIONS (A CURRENT YEAR EXPENSE) AND THE INCREASE IN ACTUARIAL VALUE. THE INCREASE IN ACTUARIAL VALUE IS NOT A CURRENT YEAR EXPENSE, BUT IS REPORTED AS COMPENSATION FOR PURPOSES OF PART VII. INCLUDED IN PART VII, COLUMN "F", OTHER COMPENSATION, IS THE ESTIMATED ANNUAL INCREASE IN THE ACTUARIAL VALUE OF THE DEFINED BENEFIT PLAN. FOR THE FOLLOWING INDIVIDUALS, THE ESTIMATED INCREASE IS: TIMOTHY N. MERGEN: $0 LUKE JOHNSON: $31,487 SCOTT FROEMMING: $10,795 THIS AMOUNT IS AN ESTIMATE OF THE INCREASE OF THE VALUE OF THE PLAN AND IS NOT REPORTED AS A CURRENT YEAR EXPENSE OF THE COOPERATIVE ON PART IX, LINE 5. CONTRIBUTIONS FOR CURRENT YEAR OFFICERS ARE RECOGNIZED AS AN EXPENSE ON PART IX, LINE 5. AMOUNTS CONTRIBUTED INTO THE DEFINED BENEFIT PLAN FOR THESE OFFICERS WERE AS FOLLOWS: TIMOTHY N. MERGEN: $17,138 LUKE JOHNSON: $10,674 SCOTT FROEMMING: $10,020 THE AMOUNT IS INCLUDED IN THE ABOVE ESTIMATED ANNUAL INCREASE IN THE ACTUARIAL VALUE OF THE DEFINED BENEFIT PLAN. FORM 990, PART IX, LINE 4: AS REQUIRED BY FORM 990 INSTRUCTIONS, FORM 990, PART IX, LINE 4 (BENEFITS PAID TO OR FOR MEMBERS) INCLUDES PATRONAGE DIVIDENDS PAID. THIS AMOUNT IS AN EXPENSE FOR PURPOSES OF FORM 990, BUT IS NOT RECOGNIZED AS AN EXPENSE UNDER G.A.A.P. REPORTING REQUIREMENTS, WHICH ARE USED FOR BOOK INCOME. THE RESULT IS A BOOK TO TAX DIFFERENCE WHICH IS DISCLOSED ON PART XI AND ON SCHEDULE D PARTS XI AND XIII. IN REFERENCE TO PART IX, LINE 4, THE COOPERATIVE HAS INTERPRETED "PATRONAGE DIVIDENDS PAID" AS CAPITAL CREDITS ALLOCATED TO MEMBERS UNDER THE PREEXISTING OBLIGATIONS PURSUANT TO THE BYLAWS OF THE COOPERATIVE. FORM 990, PART XI, LINE 9: RETIREMENT OF CAPITAL CREDITS -1,180,271. CAPITAL CREDIT CLASS B 426,588. DONATED CAPITAL 13,760. PATRONAGE CAPITAL RETIREMENT -2,611. BOOK/TAX DIFFERENCE FROM K-1'S -59,594. ALLOCATED CAPITAL CREDITS 3,423,574. MEEKER COOPERATIVE ELECTRIC TRUST 1725 US HWY 12 E SUITE 100 LITCHFIELD MN 55355 416446397 ACCUMULATION AND DISBURSEMENT OF FUNDS FOR CHARITABLE & EDUCATIONAL PURPOSES MN 501(C)(3) LINE 7 N/A 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 0