2024-11-15T09:53:00-06:00 2023-12-31 383567911 REHMANN ROBSON LLC MILLIKEN PLACE 107 S CASS STE A TRAVERSE CITY MI 49684 990 2023-01-01 380429495 CLOVERLAND ELECTRIC COOPERATIVE CLOV 9066356800 725 EAST POSTAGE AVE SAULT STE MARIE MI 49783 MICHAEL HEISE PRESIDENT/CEO 9066356800 2024-11-15 1 0 JEFFREY E HERT CPA P00066715 2319463230 2024-11-15 2023 2024-10-15 13:58:12Z MICHAEL HEISE 725 EAST POSTAGE AVE SAULT STE MARIE MI 49783 92360603 0 X WWW.CLOVERLAND.COM X 1938 MI ELECTRIC COOPERATIVE 9 9 132 9 -32548 0 0 0 87946072 89165455 1529605 1599613 -26859 -31395 89448818 90733673 0 0 89136 40794 1879188 2125622 0 0 0 84865653 81505832 86833977 83672248 2614841 7061425 214176437 223251430 148836119 151502795 65340318 71748635 ELECTRIC COOPERATIVE 0 0 PROVIDE ELECTRIC POWER TO OVER 44,000 CONSUMERS 0 0 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 1 0 0 1 68 0 1 132 1 1 1 0 0 0 0 1 0 0 89165455 3195147 0 0 0 X 9 9 0 0 0 0 1 1 0 1 1 0 0 0 1 0 0 1 1 1 1 0 X X JILLIAN KING 9066356800 725 EAST POSTAGE AVE SAULT STE MARIE MI 49783 WILLIAM LALONDE CHAIRPERSON 10.00 X X 10650 0 802 JOHN SAWRUK VICE CHAIRPERSON 5.00 X X 9200 0 802 CARMINE BONACCI JR SECRETARY/TREASURER 5.00 X X 9600 0 802 JASON OBERLE DIRECTOR 5.00 X 10400 0 802 VIRGIL MONROE DIRECTOR 5.00 X 7400 0 796 RONALD PROVO DIRECTOR 5.00 X 7500 0 793 JASON ST ONGE DIRECTOR 5.00 X 7200 0 811 GERALD NETTLETON DIRECTOR 5.00 X 7800 0 802 KEVIN VANATTA DIRECTOR 5.00 X 2200 0 7802 MICHAEL HEISE PRESIDENT/CEO 40.00 X 367755 0 150745 PATRICK FRAZIER COO 40.00 X 297815 0 70582 JILLIAN KING DIRECTOR OF FINANCE 40.00 X 133532 0 54353 ROGER LINE DIR OF GENERATION 40.00 X 147389 0 46881 BRIAN LAVEY DIR OF ENGINEERING 40.00 X 144362 0 61143 JARED KANGAS LINE FOREMAN 40.00 X 150226 0 45001 MIKE TALSMA LINE FOREMAN 40.00 X 143112 0 40279 TRAVIS TEMPLETON LINEMAN 40.00 X 142178 0 44109 1598319 0 527305 78 0 1 0 ASPLUNDH TREE EXPERT LLC 708 BLAIR MILL RD WILLOW GROVE PA 19090 TREE TRIMMING SERVICES 2459499 TREES LLC 1700 SOLUTIONS CENTER CHICAGO IL 60677 TREE TRIMMING 620357 PICKFORD SOLAR LLC 121 E FRONT ST SUITE 205 TRAVERSE CITY MI 49684 SOLAR ENERGY 432850 O'MELVENY & MEYERS 400 S HOPE ST 18TH FLOOR LOS ANGELES CA 90071 CONSULTING 102486 4 ELECTRIC REVENUE FROM MEMBERS 221000 88811419 88811419 POLE CONTACT FEES 221000 354036 354036 89165455 1611712 1551100 60612 9000 28880 15160 55268 -6160 -26388 -32548 -32548 1543044 1555143 -12099 -12099 -12099 2512 1359 1153 1153 90733673 90363672 -32548 402549 X 40794 1160944 727267 153314 84097 208607 4228266 7527974 COST OF POWER - PURCHAS 29458364 TRANSMISSIONS 8860104 DISTRIBUTION - MAINTENA 8765812 COST OF POWER - PRODUCE 7595435 14861270 83672248 2500 2500 1105030 1058851 10559794 11262550 5341299 5880487 321782 353378 250789736 73136790 171341372 177652946 17655039 18907573 7849621 8133145 214176437 223251430 12821577 12390696 672545 685046 132130105 135621309 3211892 2805744 148836119 151502795 X 185215 193130 2176671 2071740 62978432 69483765 65340318 71748635 214176437 223251430 X 7061425 -653108 X X 0 1 X 1 0 233705717 70916977 162788740 83442 83442 0 17000577 2136371 14864206 177652946 ATC, LLC 15252337 C INVESTMENT IN NRUCFC 821539 C DEFERRED COMP 457 PLANS 125301 C OTHER INVESTMENTS IN ASSOC ORG 843780 C COBANK 957005 C FEDERATED RURAL ELECTRIC INSURANCE 637421 C PATRONAGE CAPITAL CREDITS 270190 C 18907573 LINE OF CREDIT 750000 457B DEFERRED COMP PLANS 125301 OPEB 518341 REFUNDABLE POWER COSTS 1412102 2805744 X 90720468 70427 70427 90650041 83632 83632 90733673 83659043 70427 70427 83588616 83632 83632 83672248 PART X, LINE 2: CLOVERLAND IS A NOT-FOR-PROFIT ORGANIZATION EXEMPT FROM INCOME TAX UNDER SECTION 501(C)(12) OF THE INTERNAL REVENUE CODE AND IS EXEMPT FROM SIMILAR STATE AND LOCAL TAXES, PROVIDED THAT CLOVERLAND DERIVES AT LEAST 85 PERCENT OF ITS ANNUAL GROSS INCOME FROM MEMBERS TO RETAIN THE EXEMPTION. ALTHOUGH CLOVERLAND WAS GRANTED INCOME TAX EXEMPTION BY THE INTERNAL REVENUE SERVICE, SUCH EXEMPTION DOES NOT APPLY TO "UNRELATED BUSINESS TAXABLE INCOME." SUCH INCOME, PURSUANT TO THE INTERNAL REVENUE CODE AND RELATED REGULATIONS, INCLUDES INVESTMENT INCOME SUCH AS INTEREST RECEIVED FROM SOURCES OTHER THAN DIRECTLY FROM THE MEMBERSHIP. CLOVERLAND ANALYZES ITS INCOME TAX FILING POSITIONS IN THE FEDERAL AND STATE JURISDICTIONS WHERE IT IS REQUIRED TO FILE INCOME TAX RETURNS, FOR ALL OPEN TAX YEARS IN THESE JURISDICTIONS, TO IDENTIFY POTENTIAL UNCERTAIN TAX POSITIONS. CLOVERLAND HAS EVALUATED ITS INCOME TAX FILING POSITIONS FOR 2020 THROUGH 2023, THE YEARS THAT REMAIN SUBJECT TO EXAMINATION AS OF DECEMBER 31, 2023. CLOVERLAND CONCLUDED THAT THERE ARE NO SIGNIFICANT UNCERTAIN TAX POSITIONS REQUIRING RECOGNITION IN THE FINANCIAL STATEMENTS. CLOVERLAND DOES NOT EXPECT THE TOTAL AMOUNT OF UNRECOGNIZED TAX BENEFITS ("UTB") (E.G. TAX DEDUCTIONS, EXCLUSIONS, OR CREDITS CLAIMED OR EXPECTED TO BE CLAIMED) TO SIGNIFICANTLY CHANGE IN THE NEXT TWELVE MONTHS. CLOVERLAND DOES NOT HAVE ANY AMOUNTS ACCRUED FOR INTEREST AND PENALTIES RELATED TO UTBS AT DECEMBER 31, 2023 OR 2022, AND IS NOT AWARE OF ANY CLAIMS FOR SUCH AMOUNTS BY FEDERAL OR STATE INCOME TAX AUTHORITIES. PART XII, LINE 4B PATRONAGE CAPITAL PAYMENTS TO MEMBERS - $40,794 EXPENSES OF NON OPERATIONAL RENTALS - $42,838 PART XII, LINE 2D RENT EXPENSES - $70,427 X X X X X 0 1 0 MICHAEL HEISE PRESIDENT/CEO 367755 0 0 0 0 0 118280 0 32465 0 518500 0 0 0 PATRICK FRAZIER COO 297815 0 0 0 0 0 54143 0 16439 0 368397 0 0 0 BRIAN LAVEY DIR OF ENGINEERING 144362 0 0 0 0 0 39780 0 21363 0 205505 0 0 0 JARED KANGAS LINE FOREMAN 150226 0 0 0 0 0 25940 0 19061 0 195227 0 0 0 ROGER LINE DIR OF GENERATION 147389 0 0 0 0 0 36422 0 10459 0 194270 0 0 0 JILLIAN KING DIRECTOR OF FINANCE 133532 0 0 0 0 0 35568 0 18785 0 187885 0 0 0 TRAVIS TEMPLETON LINEMAN 142178 0 0 0 0 0 25589 0 18520 0 186287 0 0 0 MIKE TALSMA LINE FOREMAN 143112 0 0 0 0 0 25584 0 14695 0 183391 0 0 0 SCHEDULE J, PART I, QUESTION 4B MICHAEL HEISE RECEIVED A $30,000 EMPLOYER CONTRIBUTION INTO HIS 457B ACCOUNT IN 2023. CARMINE BONACCI JR ENTITY MORE THAN 35% OWNED BY OFFICER 810000 CONTRACT WITH BONACCI CONTRACTING INC. FOR DEMOLITION OF FACILITY. 0 FORM 990, PART VI, SECTION A, LINE 6 THE COOPERATIVE IS OWNED BY ITS MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERS ELECT THE BOARD OF DIRECTORS BY REGION. FORM 990, PART VI, SECTION B, LINE 11B REVIEWED BY THE PRESIDENT & CEO AND CFO. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION SURVEY AND APPROVAL BY BOARD. COMPENSATION STUDY. FORM 990, PART VI, SECTION C, LINE 19 MADE AVAILABLE BY WRITTEN REQUEST. FORM 990, PART IX, LINE 24E ADMINISTRATIVE AND GENERAL 6,221,182. DISTRIBUTION - OPERATIONS 4,075,506. TAXES - PROPERTY 2,945,217. CUSTOMER ACCOUNTS 2,288,367. CUSTOMER SERVICE AND INFORMATION 1,413,781. OTHER EXPENSES 42,839. ALLOCATED PAYROLL -2,125,622. FORM 990, PART XI, LINE 9: DONATED CAPITAL -728,360. INCREASE IN MEMBERSHIPS 7,915. COMPREHENSIVE INCOME 67,337. FORM 990, PART XII, LINE 2C THE PROCESS REMAINS UNCHANGED FROM THE PRIOR YEAR. CLOVERLAND CARES 725 E PORTAGE AVE SAULT STE MARIE MI 49783 850670727 PROVIDE SCHOLARSHIPS AND FUNDING FOR FOOD BANKS AND SCHOOL PROGRAMS MI 501(C)(3) LINE 10 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0