2023-06-23T11:07:37-05:00 2022-12-31 450250958 EIDE BAILLY LLP 200 E 10TH ST STE 500 SIOUX FALLS SD 571046375 990 2022-01-01 410560428 AGRALITE ELECTRIC COOPERATIVE AGRA 3208434150 PO BOX 228 BENSON MN 56215 ORVIN GRONSETH PRESIDENT 3208434150 2023-06-21 1 ORVIN GRONSETH 999009999 1 LAURIE HANSON CPA P00851848 6053391999 2023-06-21 3 AAL1 IAL1 2022 2023-04-26 12:10:37Z ORVIN GRONSETH PO BOX 228 BENSON MN 56215 26103339 0 X WWW.AGRALITE.COOP X 1939 MN DISTRIBUTE ELECTRICITY TO MEMBERSHIP. 7 7 31 0 302205 181342 714660 0 24017058 25074491 107031 198236 22595 85894 24861344 25358621 2571 3658 1650070 1744245 3656225 3450734 0 0 0 18533417 19523557 23842283 24722194 1019061 636427 69462503 70519941 40844321 40805066 28618182 29714875 TO PROVIDE SAFE, RELIABLE ELECTRIC SERVICE AND OTHER RELATED PRODUCTS TO IMPROVE THE QUALITY OF LIFE IN OUR REGION. 0 0 DISTRIBUTE ELECTRIC POWER TO APPROXIMATELY 3,663 MEMBERS. 0 0 0 0 0 0 0 1 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 1 0 0 1 12 0 1 31 1 1 1 0 0 0 0 24598569 907794 0 0 0 X 7 7 0 0 0 0 1 1 1 1 0 0 0 1 1 0 1 0 0 1 0 1 0 X RALPH MARTIN 3208434150 320 E HWY 12 BENSON MN 56215 X ORVIN GRONSETH PRESIDENT 2.50 X X 13450 0 0 KATHRYN DRAEGER DIRECTOR 4.00 X 8350 0 0 ANDREA THOMSON DIRECTOR 6.00 X 9300 0 0 WARREN RAU VICE PRESIDENT 8.00 X X 11100 0 0 STEVEN NELSON DIRECTOR 7.00 X 9300 0 0 JEFF HUFFORD SEC-TREASURER 7.00 X X 9050 0 0 BENNETT ZIERKE DIRECTOR 6.00 X 9400 0 0 KORWIN JOHNSON CEO UNTIL 12/2022 55.00 X 257580 0 53216 JENNY STRYHN CEO/CFO BEGIN 12/2022 55.00 X 149235 0 55971 RALPH MARTIN CFO - STARTED 12/2022 56.00 X 5055 0 2509 THOMAS HOFFMAN OPERATIONS MANAGER 60.00 X 149134 0 94974 JONATHAN MESSNER MANAGER OF MEMBER SERVICES 55.00 X 134524 0 48726 ROBERT HOBERG LEAD LINEMAN/FOREMAN 43.00 X 121911 0 81557 JEREMY SCHAUER LEAD LINEMAN/FOREMAN 43.00 X 121493 0 35857 CHRIS LARSON LEAD LINEMAN/FOREMAN 44.00 X 121333 0 19831 1130215 0 392641 11 0 1 0 STAR ENERGY SERVICES 6875 CO RD 28 SW ALEXANDRIA MN 56308 ENGINEERING AND SAFETY 1061291 CARR'S TREE SERVICE PO BOX 1250 OTTER TAIL MN 56571 TREE TRIMMING 220120 NISC PO BOX 1147 MANDAN ND 58554 COMPUTER SOFTWARE 112817 INTEGRITY CONTRACTING 17827 COUNTY RD 2 SHEVLIN MN 56676 POWER LINE INSTALL 109637 4 SALE OF POWER 221000 23539136 23539136 CAPITAL CREDITS 522100 1199555 1199555 EQUITY EARNINGS 561499 322030 31240 290790 OTHER NON-OPERATING 221000 13770 13770 25074491 121240 121240 76996 0 76996 76996 76996 830612 744718 85894 74479 11415 25358621 24858180 302205 198236 3658 1744245 633623 2237430 377010 202671 937677 2198087 FEDERAL INCOME TAX 10412 COST OF POWER 14729564 ADMIN & GENERAL 1550030 DISTRIBUTION-MAINTENANC 1448007 -1350220 24722194 7940423 7270502 2497215 2277613 1183366 983374 1194031 1285053 40032 102731 77910372 33700718 43981684 44209654 1492812 1885885 11101997 12492116 24092 0 6851 13013 69462503 70519941 2813243 2581549 950150 1158408 20659 16555 37010801 36360008 49468 688546 40844321 40805066 X 0 0 0 0 28618182 29714875 28618182 29714875 69462503 70519941 X 636427 460267 X 0 1 X 1 0 0 1 X 149792 149792 867410 524270 343140 5330469 2281994 3048475 71562701 30894454 40668247 44209654 GREAT RIVER ENERGY 7479790 C NATIONAL RURAL UTILITIES COOP. FINANCE CORP. 1037798 C EAST RIVER ELECTRIC POWER COOPERATIVE, INC 3332950 C COBANK 150705 C SWIFT COOPERATIVE OIL CO. PATRONAGE CAPITAL 61105 C FEDERATED RURAL ELECTRIC INSURANCE EXCHANGE 165972 C RURAL ELECTRIC SUPPLY COOPERATIVE 118674 C CHIPPEWA VALLEY AGRAFUELS COOP. PATRONAGE CAPITAL 10005 C NATIONAL INFORMATION SOLUTIONS COOPERATIVE, PATRONAGE CAPITAL 39293 C RURAL ELECTRIC ECONOMIC DEVELOPMENT 80000 C OTHER 15824 C 12492116 CONSUMER DEPOSITS 43909 PATRONAGE CAPITAL PAYABLE 210 FINANCE LEASE LIABILITY 644427 688546 X 25336875 -21746 -21746 25358621 0 25358621 22956204 0 22956204 1765991 1765991 24722195 PART IV, LINE 2B: THE COOPERATIVE RECEIVES CONTRIBUTIONS FROM MEMBERS FOR AGRALITE ELECTRIC TRUST, AN OPERATION ROUNDUP PROGRAM. THE COOPERATIVE TRANSFERS THE CONTRIBUTIONS TO THE TRUST QUARTERLY IN JANUARY, MARCH, JULY AND OCTOBER. PART X, LINE 2: THE COOPERATIVE BELIEVES IT HAS APPROPRIATE SUPPORT FOR ANY TAX POSITIONS TAKEN AFFECTING ITS ANNUAL FILING REQUIREMENTS, AND AS SUCH, DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS THAT ARE MATERIAL TO THE FINANCIAL STATEMENTS. THE COOPERATIVE WOULD RECOGNIZE FUTURE ACCRUED INTEREST AND PENALTIES RELATED TO UNRECOGNIZED TAX BENEFITS IN INCOME TAX EXPENSE IF SUCH INTEREST AND PENALTIES ARE INCURRED. PART XI, LINE 2D - OTHER ADJUSTMENTS: RECLASS EXPENSE REPORTED AS REVENUE IN FINANCIAL STATEMENT -21,746. PART XII, LINE 4B - OTHER ADJUSTMENTS: ALLOCATION OF 2022 MARGINS TO MEMBERS IN 2023 1,744,245. RECLASS EXPENSE REPORTED AS REVENUE IN FINANCIAL STATEMENT 21,746. X X X 0 0 0 KORWIN JOHNSON CEO UNTIL 12/2022 257580 0 0 0 0 0 26278 0 32338 0 316196 0 0 0 THOMAS HOFFMAN OPERATIONS MANAGER 149134 0 0 0 0 0 69285 0 28867 0 247286 0 0 0 JENNY STRYHN CEO/CFO BEGIN 12/2022 149235 0 0 0 0 0 35877 0 23248 0 208360 0 0 0 ROBERT HOBERG LEAD LINEMAN/FOREMAN 121911 0 0 0 0 0 56339 0 27422 0 205672 0 0 0 JONATHAN MESSNER MANAGER OF MEMBER SERVICES 134524 0 0 0 0 0 25512 0 26086 0 186122 0 0 0 JEREMY SCHAUER LEAD LINEMAN/FOREMAN 121493 0 0 0 0 0 33081 0 4896 0 159470 0 0 0 EXPLANATION OF AMOUNT REPORTED IN PART II, COLUMN (C) INCLUDED IN OTHER COMPENSATION IS THE ESTIMATED CURRENT YEAR INCREASE OR DECREASE IN THE ACTUARIAL VALUE OF THE DEFINED BENEFIT PLAN. THE CURRENT YEAR INCREASE OR DECREASE DOES NOT REPRESENT CURRENT YEAR CONTRIBUTIONS TO THE PLAN. RATHER, IT IS AN ESTIMATE OF THE INCREASE OR DECREASE IN THE ACTUARIAL VALUE OF THE PLAN AS CALCULATED BY THE PLAN ADMINISTRATOR. THE CURRENT YEAR CHANGE IN ACTUARIAL VALUE FOR KORWIN JOHNSON IS $18,598 WITH ACTUAL CURRENT YEAR EXPENSE OF $51,200. THE CURRENT YEAR CHANGE IN ACTUARIAL VALUE FOR THOMAS HOFFMAN IS $64,730 WITH ACTUAL CURRENT YEAR EXPENSE OF $30,200. THE CURRENT YEAR CHANGE IN ACTUARIAL VALUE FOR JENNY STRYHN IS $31,148 WITH ACTUAL CURRENT YEAR EXPENSE OF $30,100. THE CURRENT YEAR CHANGE IN ACTUARIAL VALUE FOR ROBERT HOBERG IS $52,143 WITH ACTUAL CURRENT YEAR EXPENSE OF $18,796. THE CURRENT YEAR CHANGE IN ACTUARIAL VALUE FOR JONATHAN MESSNER IS $21,377 WITH ACTUAL CURRENT YEAR EXPENSE OF $27,400. THE CURRENT YEAR CHANGE IN ACTUARIAL VALUE FOR JEREMY SCHAUER IS $29,010 WITH ACTUAL CURRENT YEAR EXPENSE OF $18,113. FORM 990, PART VI, SECTION A, LINE 6 SUBSTANTIALLY ALL CUSTOMERS OF THE COOPERATIVE ARE MEMBERS. EACH MEMBER HAS ONE VOTE. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERSHIP ELECTS THE BOARD OF DIRECTORS. THERE IS ONE CLASS OF MEMBERSHIP. FORM 990, PART VI, SECTION A, LINE 7B THE MEMBERSHIP MUST APPROVE CHANGES TO THE BY-LAWS. FORM 990, PART VI, SECTION A, LINE 8B THE COOPERATIVE HAS NO COMMITTEES WITH BROAD AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B THE BOARD OF DIRECTORS RECEIVE A COPY OF FORM 990 BEFORE IT IS FILED. THE FORM IS REVIEWED AND APPROVED DURING A MONTHLY BOARD MEETING. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY APPLIES TO BOARD MEMBERS, THE GENERAL MANAGER, AND ALL EMPLOYEES. AS POTENTIAL CONFLICTS ARISE, MANAGEMENT MAKES INQUIRIES AND DETERMINES IF A CONFLICT EXISTS. MANAGEMENT IS RESPONSIBLE FOR THE HANDLING OF ALL CONFLICTS. FORM 990, PART VI, SECTION B, LINE 15A THE GENERAL MANAGER'S SALARY IS COMPARED TO OTHER COOPERATIVES THROUGH INDUSTRY SURVERYS AND APPROVED BY THE BOARD OF DIRECTORS. THIS PROCESS IS UNDERTAKEN ANNUALLY. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL DOCUMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART VII, COLUMN F, OTHER COMPENSATION INCLUDED IN OTHER COMPENSATION IS THE ESTIMATED CURRENT YEAR INCREASE OR DECREASE IN THE ACTUARIAL VALUE OF THE DEFINED BENEFIT PLAN FOR THE GENERAL MANAGER. THE CURRENT YEAR INCREASE OR DECREASE DOES NOT REPRESENT CURRENT YEAR CONTRIBUTIONS TO THE PLAN. RATHER, IT IS AN ESTIMATE OF THE INCREASE OR DECREASE IN THE ACTUARIAL VALUE OF THE PLAN AS CALCULATED BY THE PLAN ADMINISTRATOR. FORM 990, PART XI, LINE 9: RETIREMENT OF CAPITAL CREDITS -1,283,978. ALLOCATION OF 2022 MARGINS TO MEMBERS IN 2023 1,744,245. FORM 990, PART IX, LINE 4 STATEMENT OF FUNCTIONAL EXPENSES: THE COOPERATIVE HAS INTERPRETED THE INSTRUCTIONS TO PART IX, LINE 4, TO MEAN PATRONAGE CAPITAL ALLOCATED FOR THE YEAR, RATHER THAN PATRONAGE CAPITAL RETIRED. THIS IS CONSISTENT WITH THE BYLAWS OF THE COOPERATIVE. FORM 990, PART IX, LINE 24E, STATEMENT OF FUNCTIONAL EXPENSES: THE LABOR, PENSION AND PAYROLL TAXES REPORTED ON LINES 6-10 ARE INCLUDED IN DISTRIBUTION EXPENSE, ADMINISTRATIVE & GENERAL EXPENSE AND CUSTOMER EXPENSE. THEREFORE, LABOR, PENSION AND PAYROLL TAXES ARE SHOWN AS A REDUCTION TO OTHER EXPENSES ON LINE 24E. AGRALITE ELECTRIC TRUST PO BOX 228 BENSON MN 56215 411731852 CHARITABLE MN 501(C)(3) LINE 7 AGRALITE ELECTRIC COOPERATIVE 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 1 0