2024-11-14T13:47:11-06:00 2023-12-31 450310328 BRADY MARTZ & ASSOCIATES PC PO BOX 14296 GRAND FORKS ND 582084296 990 2023-01-01 410480748 EAST CENTRAL ENERGY EAST 8002547944 PO BOX 39 BRAHAM MN 550060039 JUSTIN JAHNZ CEO/PRESIDENT 8002547944 2024-11-07 1 0 DAVID HOLT P00014251 7017754685 2024-11-07 2023 2024-10-15 13:58:12Z JUSTIN JAHNZ 412 N MAIN BRAHAM MN 55006 143421987 0 X WWW.EASTCENTRALENERGY.COM X 1936 MN DISTRIBUTE ELECTRIC ENERGY TO MEMBERS 12 9 191 0 65498 16132 0 0 134646028 141514404 432040 498360 1337428 1398502 136415496 143411266 27808 31949 9421303 13037381 1320744 1526721 0 0 0 125572165 131016529 136342020 145612580 73476 -2201314 359107957 422306337 216712795 271866940 142395162 150439397 TO PROVIDE ELECTRIC DISTRIBUTION AND OTHER RELATED SERVICES TO ITS 66,358 MEMBERS. 0 0 PROVIDE ELECTRIC ENERGY TO MEMBERS. 0 0 0 0 0 0 0 0 0 1 0 1 0 1 1 0 1 0 0 1 0 0 0 0 0 0 1 0 1 0 0 0 1 0 1 0 0 0 0 1 1 0 0 1 395 0 1 191 1 1 1 0 0 0 0 136931666 7953146 0 0 0 X 12 9 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 X KAYLA HAGFORS 7636898014 412 N MAIN BRAHAM MN 55006 X JOSEPH MORLEY SECRETARY/TREASURER 5.33 X 16044 0 0 RICK OLSON DIRECTOR 6.75 X 15868 0 0 MICHAEL GAINOR DIRECTOR - STARTED 4/20/2023 2.26 X 7655 0 0 WAYNE ELLER DIRECTOR 5.88 X 14306 0 0 LINDA LAITALA CHAIR 8.56 X 15971 0 0 GARRY BYE DIRECTOR - LEFT 4/20/2023 2.25 X 3018 0 0 JIM JESOK DIRECTOR 5.31 X 18610 0 0 DAVID DEUTSCHLANDER DIRECTOR - LEFT 4/20/2023 2.88 X 3579 0 0 GREG KVANICKA ASST. SECRETARY/TREASURER 5.71 X 15106 0 0 LONNIE JOHNSON DIRECTOR 6.40 X 12514 0 0 SHELLY NAULT DIRECTOR 8.64 X 20717 0 0 RON VOLKER DIRECTOR 4.75 X 13914 0 0 JERRY TVEDT VICE CHAIR 6.13 X 15580 0 0 THOMAS SCHOENECKER DIRECTOR - STARTED 4/20/2023 6.31 X 11670 0 0 JUSTIN JAHNZ PRESIDENT/CEO 46.00 X 285084 0 92741 ANDY OLSON VP/CHIEF OPERATING OFFICER 43.00 X 238504 0 90653 LISA PRACHAR VP/CHIEF FINANCIAL OFFICER 43.00 X 236585 0 216526 TY HOUGLUM VP/CHIEF INFORMATION OFFICER 48.00 X 229446 0 83714 MARK NELSON MANAGER, BUSINESS ACCOUNTS 48.00 X 174826 0 12897 TANNER OLSON LINE TECHNICIAN 51.00 X 157145 0 34162 ADAM EYE LINE PERSONNEL 60.00 X 167799 0 18674 MARK MACHOVEC LINE TECHNICIAN 57.00 X 168619 0 48135 DAVID WALETSKI MANAGER, ENGINEERING 42.00 X 171776 0 78017 2014336 0 675519 79 0 1 0 ITG COMMUNICATIONS LLC 152 MOLLY WALTON DR HENDERSONVILLE TN 37075 BROADBAND CONSULTING 8787330 PULSE BROADBAND LLC 2121 COOPERATIVE WAY SUITE 600 HERNDON VA 20171 BROADBAND CONSULTING 8656958 NEW AGE TREE SERVICE INC PO BOX 543 SPRING GROVE MN 55974 TREE TRIMMING/CLEARING 2371066 R & G WALDHALM CONTRACTORS 3263 LAKETOWN RD STURGEON LAKE MN 55783 EXCAVATION WORK 1784355 YTS COMPANIES 11720 BROCKTON LANE NORTH MAPLE GROVE MN 55369 POWER LINE CONSTRUCTION 1212101 19 ELECTRIC SALES 221000 136023173 136023173 CAPITAL CREDITS 221000 5491231 5491231 141514404 463678 463678 45403 10721 34682 34682 34682 OTHER REVENUE 900099 1333004 1333004 JOBBING AND CONTRACT REVENUE 541900 78034 78034 COMO OIL REVENUE 541900 -12536 -12536 1398502 143411266 142882090 65498 463678 X 31949 13037381 1526721 6548851 12165065 COST OF POWER 82843323 DIST EXP - MAINTENANCE 9057119 ADMIN & GENERAL 7256424 DIST EXP - OPERATIONS 6039093 7106654 145612580 15987927 13568809 19284620 16909661 1511828 1532519 4616666 15744460 619675 700646 440983374 142580142 243289614 298403232 394781 405020 70730498 72323929 2672348 2718061 359107957 422306337 19987640 23738741 16562647 19082050 179140511 227770236 1021997 1275913 216712795 271866940 X 0 0 0 0 142395162 150439397 142395162 150439397 359107957 422306337 X -2201314 10245549 X 0 1 X 1 1 1 1289004 1289004 14872000 8719625 6152375 374162092 133860517 240301575 50660278 50660278 298403232 INVEST PATRONAGE CAP - ASSOC ORGAN 66299564 C INVEST NONGENERAL CTC'S 2101522 C INVEST GENERAL ASSOC COOPS 2544093 C OTHER INVEST ECE NET 1378750 C 72323929 ACCRUED INTEREST 373219 CONSUMER DEPOSITS 803634 ACCU PROV FOR BENEFITS 99060 1275913 X PART X, LINE 2: 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. 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 TAX FILINGS ARE CURRENT. CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENT IN THE PREFERRED ENERGY GROUP, LTD 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 INITIATIVE FOUNDATION 405 FIRST STREET SOUTHEAST LITTLE FALLS MN 56345 363451562 501(C)(3) 10000 0 PROVIDE PERMANENT SUPPORT FOR COMMUNITY AND ECONOMIC DEVELOPMENT IN ECE CENTRAL MINNESOTA SERVICE AREA. 1 X X 0 1 0 LISA PRACHAR VP/CHIEF FINANCIAL OFFICER 236585 0 0 0 0 0 192913 0 25218 0 454716 0 0 0 JUSTIN JAHNZ PRESIDENT/CEO 285084 0 0 0 0 0 69128 0 25528 0 379740 0 0 0 ANDY OLSON VP/CHIEF OPERATING OFFICER 238504 0 0 0 0 0 67040 0 25241 0 330785 0 0 0 TY HOUGLUM VP/CHIEF INFORMATION OFFICER 229446 0 0 0 0 0 60101 0 25214 0 314761 0 0 0 DAVID WALETSKI MANAGER, ENGINEERING 171776 0 0 0 0 0 54404 0 24853 0 251033 0 0 0 MARK MACHOVEC LINE TECHNICIAN 168619 0 0 0 0 0 24522 0 24368 0 217509 0 0 0 TANNER OLSON LINE TECHNICIAN 157145 0 0 0 0 0 10549 0 24368 0 192062 0 0 0 MARK NELSON MANAGER, BUSINESS ACCOUNTS 174826 0 0 0 0 0 10497 0 3472 0 188795 0 0 0 ADAM EYE LINE PERSONNEL 167799 0 0 0 0 0 10286 0 9130 0 187215 0 0 0 FORM 990, SCHEDULE J, PART II, COLUMN C COMPENSATION OF OFFICERS, DIRECTORS, KEY EMPLOYEES, HIGHEST COMPENSATED EMPLOYEES: INCLUDED IN OTHER DEFERRED COMPENSATION IS THE ESTIMATED CURRENT YEAR INCREASE IN THE ACTUARIAL VALUE OF THE DEFINED BENEFIT PLAN. THESE AMOUNTS DO NOT REPRESENT ANY CURRENT YEAR CONTRIBUTIONS TO THE PLAN. THEY ARE ESTIMATES OF THE INCREASE IN THE ACTUARIAL VALUE OF THE PLANS RECEIVED FROM THE NRECA. THE CURRENT YEAR EXPENSE AND THE INCREASE IN ACTUARIAL VALUE FOR EACH EMPLOYEE ARE DISCLOSED IN THE STATEMENT ON SCHEDULE O FOR FORM 990, PART VII, COLUMN F. GREAT RIVER ENERGY JOSEPH MORLEY REPRESENTS THE COOPERATIVE ON GREAT RIVER ENERGY'S BOARD 81690730 PURCHASE OF WHOLESALE POWER 0 GREAT RIVER ENERGY LONNIE JOHNSON REPRESENTS THE COOPERATIVE ON GREAT RIVER ENERGY'S BOARD 81690730 PURCHASE OF WHOLESALE POWER 0 GREAT RIVER ENERGY LINDA LAITALA REPRESENTS THE COOPERATIVE ON GREAT RIVER ENERGY'S BOARD 81690730 PURCHASE OF WHOLESALE POWER 0 FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION IS A MEMBER OWNED COOPERATIVE. FORM 990, PART VI, SECTION A, LINE 7A THERE IS ONE CLASS OF MEMBERSHIP AND MEMBERS ELECT THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 7B THE MEMBERS VOTE ON BYLAW CHANGES AND ANY OTHER DECISIONS AS SPECIFIED IN THE BYLAWS. FORM 990, PART VI, SECTION B, LINE 11B COPIES OF THE FORM 990 ARE PROVIDED TO THE FINANCE SUPERVISOR AND FINANCE & ASSET MANAGER FOR REVIEW AND THEN FORWARDED TO THE CEO FOR APPROVAL. FORM 990, PART VI, SECTION B, LINE 12C EAST CENTRAL ENERGY ENFORCES WHAT IS IN THE EMPLOYEE HANDBOOK RELATED TO CONFLICTS OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15 HUMAN RESOURCE DEPARTMENT GATHERS MARKET COMPENSATION DATA FOR ALL EMPLOYEES AND THE BOARD OF DIRECTORS PERFORMS A REVIEW AND DETERMINES THE CEO COMPENSATION. OTHER KEY EMPLOYEE COMPESNATION IS DETERMINED BY THE CEO. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS AND THE FINANCIAL STATEMENTS ARE AVAILABLE ON EAST CENTRAL ENERGY'S WEBSITE AND BY REQUEST. THE CONFLICT OF INTEREST STATEMENT IS IN THE EMPLOYEE HANDBOOK AND IS NOT AVAILABLE TO THE PUBLIC. FORM 990, PART VII, SECTION A, COLUMN F INCLUDED IN COLUMN (F), ESTIMATED AMOUNT OF OTHER COMPENSATION, IS THE ESTIMATED ANNUAL INCREASE IN THE ACTUARIAL VALUE OF THE DEFINED BENEFIT PLAN. THE ESTIMATED INCREASE FOR JUSTIN JAHNZ IS $61,147, $60,181 FOR ANDY OLSON, $186,139 FOR LISA PRACHAR, $53,344 FOR TY HOUGLUM, $5,985 FOR MARK NELSON, $0 FOR ADAM EYE, $0 FOR TANNER OLSON, $49,180 FOR DAVID WALETSKI, AND $21,250 FOR MARK MACHOVEC. THESE AMOUNTS ARE ESTIMATES IN THE INCREASE OF THE VALUE OF THE PLAN AND ARE NOT CURRENT YEAR EXPENSES OF THE COOPERATIVE. THE CURRENT YEAR EXPENSE FOR THIS DEFINED BENEFIT PLAN WAS $65,625, $54,729, $54,581, $48,043, $38,388, $0, $0, $45,291 AND $27,567, RESPECTIVELY. 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. 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 -2,820,787. DIVERSIFIED ENTERPRISES-COMO OIL - BOOK TO TAX ADJUSTMENT 28,955. ALLOCATED CAPITAL CREDITS 13,037,381. ECE NET LLC 412 N MAIN BRAHAM MN 55006 202174383 PROVIDER OF HIGH SPEED INTERNET SERVICE MN 0 1378750 EAST CENTRAL ENERGY DIVERSIFIED ENTERPRISES LLC 412 N MAIN BRAHAM MN 55006 411995071 PROVIDER OF OIL, PROPANE, AND NATURAL GAS MN 16419 0 EAST CENTRAL ENERGY EAST CENTRAL ENERGY TRUST 412 N MAIN BRAHAM MN 55006 411889062 COMMUNITY TRUST MN 501(C)(3) LINE 8 N/A 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 EAST CENTRAL ENERGY TRUST R 90897 ACTUAL AMOUNTS TRANSFERRED