2023-09-13T11:39:23-05:00 2022-12-31 450310328 BRADY MARTZ & ASSOCIATES PC PO BOX 1297 BISMARCK ND 585021297 990 2022-01-01 450173086 NORTH CENTRAL ELECTRIC COOPERATIVE INC NORT 7012282202 538 11TH ST W 1 BOTTINEAU ND 58318 JONATHAN BEYER GENERAL MANAGER 7012282202 2023-07-24 1 JONATHAN BEYER 999009999 1 LANCE RAMBOUSEK P01212867 7012231717 2023-07-24 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z JESSE FAHNESTOCK 538 11TH ST W 1 BOTTINEAU ND 58318 27995991 0 X WWW.NCECI.COM X 1941 ND THE EXEMPT PURPOSE OF THE ORGANIZATION IS TO PROVIDE ELECTRICITY TO MEMBERS. 9 9 37 0 0 0 0 0 24317482 27246829 83432 120649 -19239 32415 24381675 27399893 0 0 1369500 2145306 4664481 4909225 0 0 0 18347694 20345362 24381675 27399893 0 0 91530446 92151015 59838297 59094777 31692149 33056238 NONE 0 0 SALE OF ELECTRICITY AND ELECTRICAL SERVICES TO OVER 8,500 RESIDENTIAL AND COMMERCIAL METERS. SERVICE ENCOMPASSES OVER 3,300 MILES OF UTILITY LINE. 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 0 0 1 31 0 1 37 1 0 0 0 0 0 0 0 25502154 2493836 0 0 0 X 9 9 0 0 0 0 1 1 1 1 0 0 0 1 1 1 1 1 1 1 1 0 X SARAH DAWSON 7012282202 538 11TH ST WEST STE 1 BOTTINEAU ND 58318 X JESSE FAHNESTOCK PRESIDENT 10.00 X X 12616 0 0 STUART ROTHE VICE PRESIDENT 3.00 X X 8866 0 0 LORI M KITTLESON SECRETARY/TREASURER 4.00 X X 7266 0 0 DEVIN TOLSTAD SECRETARY/TREASURER ASSIST 3.00 X X 8266 0 0 NORMAN BUYNAK DIRECTOR 3.00 X 4309 0 0 JOEL BRANDVOLD DIRECTOR 3.00 X 12966 0 0 R JAY PAUL DIRECTOR 3.00 X 7166 0 0 JOHN GUNNING DIRECTOR 3.00 X 12916 0 0 JEAN R BRANDT DIRECTOR 3.00 X 0 0 0 JONATHAN BEYER GENERAL MANAGER 40.00 X 192089 0 127072 SARAH DAWSON BUSINESS MANAGER 50.00 X 134181 0 70294 PETE ERICKSON MEMBER SERVICE MANAGER 40.00 X 128732 0 24761 TYLER LEE ENGINEERING & OPERATIONS MANAGER 40.00 X 130063 0 60757 TYSON BRANDT LINE CREW FOREMAN 40.00 X 117601 0 54201 DARIN HASENWINKEL JOURNEYMAN LINEMAN 40.00 X 122577 0 44830 TYLER LIEBELT LINE CREW FOREMAN 40.00 X 121722 0 51851 1021336 0 433766 7 0 1 0 CENTRAL TRENCHING INC 5200 7TH AVE SW MINOT ND 58701 TRENCHING AND BORING 724745 PARISIEN'S TREE SERVICE PO BOX 777 BELCOURT ND 58316 TRIMMING TREES 268480 DAKOTA TREE SERVICE INC PO BOX 195 DEVILS LAKE ND 58301 TRIMMING TREES 211291 3 ELECTRIC SALES 221000 25502155 25502155 CAPITAL CREDITS 221000 1744674 1744674 27246829 115431 115431 15000 0 15000 15000 15000 5218 0 5218 5218 5218 613513 596098 17415 17415 27399893 27264244 0 135649 2145306 598007 2902406 1143826 264986 1578994 2832553 COST OF POWER 14412775 DISTRIBUTION EXPENSE 3674455 ADMINISTRATIVE AND GENE 1322406 CUSTOMER EXPENSE 1232430 -4708251 27399893 6717143 6406155 2732388 2423910 2297211 1808962 535456 515930 103297186 40205304 61320445 63091882 322733 379141 17466577 17474074 138493 50961 91530446 92151015 3231915 3235252 2832035 3266431 1797 1849 53634073 52540300 138477 50945 59838297 59094777 X 31692149 33056238 0 0 0 0 31692149 33056238 91530446 92151015 X 0 1364089 X X 0 1 X 1 0 0 1 X 217950 217950 6076573 1642909 4433664 93835450 38562395 55273055 3167213 3167213 63091882 INVESTMENTS IN ASSOCIATED COMPANIES 16228978 C OTHER INVESTMENTS 1056621 C REVOLVING LOAN FUNDS 188475 C 17474074 POST RETIREMENT LIABILITIES 50945 50945 X 27399892 0 27399892 0 27399892 25254586 0 25254586 2145306 2145306 27399892 PART IV, LINE 2B: THE MEMBERS OF THE COOPERATIVE CAN ELECT TO ROUND UP THEIR MONTHLY ELECTRIC BILL TO THE NEXT DOLLAR. THESE FUNDS COLLECTED FROM THE MEMBERSHIP ARE HELD IN A COOPERATIVE ACCOUNT UNTIL THEY ARE RELEASED TO THE NORTH CENTRAL ELECTRIC TRUST, INC. THESE FUNDS ARE TRANSFERRED DIRECTLY TO THE NORTH CENTRAL ELECTRIC TRUST, INC. ON A QUARTERLY BASIS. PART X, LINE 2: IT IS THE OPINION OF MANAGEMENT THAT THE COOPERATIVE HAS NO SIGNIFICANT UNCERTAIN TAX POSITIONS THAT WOULD BE SUBJECT TO CHANGE UPON EXAMINATION. THE INCOME TAX RETURNS OF THE COOPERATIVE ARE SUBJECT TO EXAMINATION BY THE IRS AND STATE TAX AUTHORITIES, GENERALLY FOR THREE YEARS AFTER THEY WERE FILED. ALL REQUIRED FILINGS ARE CURRENT. PART XII, LINE 4B - OTHER ADJUSTMENTS: PATRONAGE CAPITAL CREDITS ALLOCATED FOR CURRENT YEAR 2,145,306. X X X 0 0 0 JONATHAN BEYER GENERAL MANAGER 189977 0 350 0 1762 0 104978 0 22094 0 319161 0 0 0 SARAH DAWSON BUSINESS MANAGER 133573 0 350 0 258 0 48844 0 21450 0 204475 0 0 0 TYLER LEE ENGINEERING & OPERATIONS MANAGER 129520 0 350 0 193 0 39609 0 21148 0 190820 0 0 0 TYLER LIEBELT LINE CREW FOREMAN 121202 0 350 0 170 0 39574 0 12277 0 173573 0 0 0 TYSON BRANDT LINE CREW FOREMAN 117081 0 350 0 170 0 38139 0 16062 0 171802 0 0 0 DARIN HASENWINKEL JOURNEYMAN LINEMAN 122112 0 350 0 115 0 28828 0 16002 0 167407 0 0 0 PETE ERICKSON MEMBER SERVICE MANAGER 127260 0 350 0 1122 0 12592 0 12169 0 153493 0 0 0 PART II INCLUDED IN COLUMN "C", 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 ACTUARIAL VALUE IN THE PLANS RECEIVED FROM NRECA. THE CURRENT YEAR EXPENSE AND THE INCREASE IN ACTUARIAL VALUE FOR EACH EMPLOYEE IS REFLECTED IN THE SCHEDULE O STATEMENT FOR FORM 990, PART VII, COLUMN F. FORM 990, PART VI, SECTION A, LINE 6 THERE IS ONE CLASS OF MEMBERS WHICH ALL HAVE THE SAME VOTING RIGHTS. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS VOTE FOR ALL OPEN POSITIONS IN ALL DISTRICTS THAT ARE UP FOR ELECTION THAT YEAR. FORM 990, PART VI, SECTION A, LINE 7B CHANGES TO BYLAWS OR ARTICLES OF INCORPORATION MUST BE APPROVED BY MEMBERS OF THE COOPERATIVE. FORM 990, PART VI, SECTION A, LINE 8B THERE ARE NO COMMITTEES THAT HAVE AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B THE GENERAL MANAGER AND BUSINESS MANAGER REVIEWED A DRAFT OF THE FORM 990. THE FORM 990 WAS PRESENTED AT A BOARD MEETING PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C EACH INTEREST DISCLOSED TO THE PRESIDENT OF THE BOARD OF DIRECTORS IS REVIEWED BY THE PRESIDENT TO DETERMINE: A) TAKE NO ACTION, B) FULL DISCLOSURE TO THE BOARD & OTHER COVERED INDIVIDUALS, C) ASK PERSON TO RECUSE FROM PARTICIPATION IN RELATED DISCUSSIONS/DECISIONS, OR D) ASK PERSON TO RESIGN THEIR POSITION. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD ANNUALLY USES A SALARY SURVEY MADE AVAILABLE THROUGH THE NORTH DAKOTA ASSOCIATION OF RURAL ELECTRIC COOPERATIVES. THE SALARY DELIBERATION IS DOCUMENTED IN THE MINUTES. THE BOARD VOTES ON THE COMPENSATION. COMPENSATION FOR THE BUSINESS MANAGER IS DETERMINED BASED ON BUSINESS MANAGER SALARIES AT OTHER COOPERATIVES ACROSS NORTH DAKOTA, TAKING INTO ACCOUNT THE RESULTS OF THE ND ASSOCIATION OF REC'S WAGE AND SALARY SURVEY. IN ADDITION, THE BUSINESS MANAGER'S YEARS OF SERVICE TO THE COOPERATIVE ARE CONSIDERED. THE BOARD APPROVES ALL WAGES ANNUALLY. FOR NON-UNION EMPLOYEES THE GENERAL MANAGER MAKES A RECOMMENDATION, AND THE BOARD VOTES TO APPROVE. FOR UNION MEMBERS, THE UNION NEGOTIATES DIRECTLY WITH THE BOARD AND THE GENERAL MANAGER. WHEN AN AGREEMENT IS REACHED, THE BOARD WILL FORMALLY APPROVE THE NEW WAGE SCALE. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST FORM 990, PART VII, SECTION A, COLUMN (F) INCLUDED IN THE COLUMN "F" ESTIMATED AMOUNT OF OTHER COMPENSATION IS THE ESTIMATED ANNUAL INCREASE IN THE ACTUARIAL VALUE OF THE DEFINED BENEFIT PLAN. THE ESTIMATED INCREASE IS AS FOLLOWS FOR THOSE LISTED IN PART VII: JONATHAN BEYER - $97,003 SARAH DAWSON - $43,096 TYLER LIEBELT - $35,461 TYSON BRANDT - $34,043 TYLER LEE - $34,147 DARIN HASENWINKEL - $24,872 PETE ERICKSON - $0 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 AS FOLLOWS: JONATHAN BEYER - $44,831 SARAH DAWSON - $32,881 TYLER LIEBELT - $23,498 TYSON BRANDT - $23,498 TYLER LEE - $27,949 DARIN HASENWINKEL - $23,164 PETE ERICKSON - $0 FORM 990, PART XI, LINE 9: CAPITAL CREDITS RETIRED -629,456. PATRONAGE CAPITAL CREDITS ALLOCATED FOR CURRENT YEAR 2,145,306. ROUNDING ADJUSTMENT DISCOUNTED ESTATE RETIREMENTS -151,761. FORM 990, PARTI XII, LINE 2(C) THERE WAS NO CHANGE IN THE OVERSIGHT OR SELECTION PROCESS OF THE INDEPENDENT AUDITORS. THE FULL BOARD OF DIRECTORS REVIEWED AND APPROVED THE INDEPENDENT AUDITORS. FORM 990, PART IX, STATEMENT OF FUNCTIONAL EXPENSES, LINE 24E ALLOCATED COSTS - THE LABOR, PENSION AND PAYROLL TAXES REPORTED ON LINES 5 - 10 ARE ALREADY INCLUDED IN DISTRIBUTION, ADMINSTRATIVE AND GENERAL EXPENSE, AND CUSTOMER EXPENSE. THEREFORE, THESE AMOUNTS ARE BEING SUBTRACTED OUT AS AN OTHER DEDUCTION IN LINE 24E FOR THE TOTAL AMOUNT. FORM 990, PART IX, LINE 4: THE COOPERATIVE HAS INTERPRETED THE INSTRUCTIONS OF 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. NORTH CENTRAL ELECTRIC TRUST INC 538 11TH STREET WEST SUITE 1 BOTTINEAU ND 58318 467523359 OPERATION ROUNDUP ND 501(C)(3) LINE 7 NORTH CENTRAL ELECTRIC COOPERATIVE INC 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0