2023-10-24T14:37:26-05:00 2022-12-31 450250958 EIDE BAILLY LLP 345 N REID PL STE 400 SIOUX FALLS SD 571037034 990 2022-01-01 820136983 KOOTENAI ELECTRIC COOPERATIVE INC KOOT 2087651200 9014 W LANCASTER RD RATHDRUM ID 83858 REED CHRISTENSEN VP ACCOUNTING/FINANCE & IT/CFO 2087651200 2023-10-24 1 REED CHRISTENSEN 999009999 1 X LAURIE HANSON CPA P00851848 6053391999 2023-10-24 3 AAL1 IAL1 2022 2023-04-26 12:10:37Z DOUGLAS ELLIOTT 9014 W LANCASTER RD RATHDRUM ID 83858 60417265 0 X WWW.KEC.COM X 1938 ID PROVIDE MEMBER-OWNERS DEPENDABLE ELECTRIC POWER AND EXCEPTIONAL SERVICE AT COMPETITIVE RATES. 7 7 129 0 0 0 2147243 0 54170892 57923391 788851 431985 1411269 1742081 58518255 60097457 17990 16642 3171241 5357060 14123679 15941457 0 0 0 37211377 40798184 54524287 62113343 3993968 -2015886 200587122 242059488 116804821 156161124 83782301 85898364 PROVIDE OUR MEMBER-OWNERS DEPENDABLE ELECTRIC POWER AND EXCEPTIONAL SERVICE AT COMPETITIVE RATES. 0 0 KOOTENAI ELECTRIC COOPERATIVE, INC. IS A MEMBER-OWNED ELECTRIC UTILITY WHICH PROVIDES RELIABLE ELECTRIC SERVICE TO APPROXIMATELY 27,500 MEMBERS. 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 1 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 82 0 1 129 1 0 0 0 0 0 0 0 67045640 3135309 0 0 0 X 7 7 0 0 0 0 1 1 1 1 0 0 0 1 1 1 1 1 1 1 1 0 X LESLIE MILLER 2082923264 9014 W LANCASTER RD RATHDRUM ID 83858 X WILLIAM SWICK CHAIRPERSON 12.00 X X 36202 0 0 TIM MEYER VICE CHAIRPERSON 13.00 X X 28852 0 0 ROGER TINKEY DIRECTOR 7.00 X X 27102 0 0 DAVID BOBBITT DIRECTOR 8.70 X X 7127 0 20500 JAMES ROBBINS DIRECTOR 13.80 X 36289 0 0 TODD HOFFMAN DIRECTOR 6.00 X 7127 0 20500 CRYSTAL MUSSELMAN DIRECTOR 3.50 X 7656 0 20496 DOUGLAS ELLIOT GENERAL MANAGER/CEO 52.00 X 299687 0 223165 REED CHRISTENSEN VP ACCOUNTING/FINANCE & IT/CFO 42.00 X 174638 0 80552 BENJAMIN COOK JOURNEYMAN SERVICE LINEMAN 43.50 X 167062 0 86989 KEITH GEDNALSKE FOREMAN 44.30 X 190342 0 113569 DIANE GRISWOLD VP HUMAN RESOURCE 42.00 X 174489 0 106082 JULIE TURBIN VP OPS & OPS SERVICES 45.00 X 178242 0 236896 RYAN VANDEWERKER ELECTROTECH 45.60 X 182372 0 80602 1517187 0 989351 65 0 1 0 COOPERATIVE BUILDING SOLUTIONS 77 WEST PORT PLZ STE 250 ST LOUIS MO 631463121 BUILDING DESIGN & CONSTRUCTION CONTRACTO 22299720 ASSOCIATED ARBORISTS 6472 N COLFAX ST DALTON GARDENS ID 838159229 TREE TRIMMING 3665016 ENERGYNEERING SOLUTIONS INC 15820 BARCLAY DR SISTERS OR 977599872 LABOR & SUPPLIES FOR METHANE PLANT 738388 PALOUSE POWER LLC PO BOX 356 QUINCY WA 988480356 ELECTRIC UTILITY LINE CONSTRUCTION 684432 POTELCO INC 14103 STEWART RD SUMNER WA 983909641 ELECTRIC UTILITY LINE CONSTRUCTION 669378 10 ELECTRIC ENERGY SALES 221000 57660987 57660987 POLE RENTAL INCOME 221000 262404 262404 57923391 27409 27409 25327 0 25327 25327 25327 700275 295699 404576 404576 404576 22480 6504 15976 15976 22563 17605 4958 4958 PRIEST RAPIDS EXCHANGE 221000 759172 759172 PATRONAGE CAPITAL CREDITS 221000 749683 749683 186965 186965 1695820 60097457 59361765 0 735692 X 16642 5357060 901423 11452671 2698154 889209 4219940 7431543 COST OF POWER 26846607 DISTRIBUTION MAINTENANC 7252247 DISTRIBUTION OPERATIONS 2497428 CUSTOMER ACCOUNTS 1723559 -9173140 62113343 1630 1059586 8968754 8029204 1174107 1249991 8281248 10577602 5995240 5547531 270456275 59796966 172617093 210659309 3459591 3721340 89459 72419 0 1142506 200587122 242059488 13754955 16317505 4000000 5523 5869 97847134 117856205 1100000 12700000 4097209 5281545 116804821 156161124 X 0 0 56976586 53667626 26805715 32230738 83782301 85898364 200587122 242059488 X -2015886 4131949 X 0 1 X 1 1 1 0 1 X 3201909 3201909 4970943 1891817 3079126 228573146 57659814 170913332 33710277 245335 33464942 210659309 PATRONAGE CAPITAL PAYABLE 900000 ASSET RETIREMENT OBLIGATION 145424 POSTRETIREMENT BENEFIT OBLIGATION 2622891 OTHER RETIREMENT BENEFITS 581422 LEASE LIABILITY 1031808 5281545 X 60097457 0 60097457 0 60097457 56756283 0 56756283 5357060 5357060 62113343 PART IV, LINE 1B: INCOMING DONATIONS FOR THE KOOTENAI ELECTRIC TRUST ARE TRACKED IN A LIABILITY ACCOUNT AS RECEIVED AND TRANSFERRED TO THE TRUST'S BANK ACCOUNT MONTHLY. THE AMOUNT REPORTED IN PART X LINE 21 REPRESENTS COLLECTED DONATIONS NOT YET TRANSFERRED TO THE TRUST'S BANK ACCOUNT. PART IV, LINE 2B: OPERATION ROUNDUP FUND BALANCE PART X, LINE 2: THE COOPERATIVE IS EXEMPT FROM INCOME TAXES UNDER THE PROVISIONS OF SECTION 501(C)(12) OF THE INTERNAL REVENUE CODE, EXCEPT TO THE EXTENT OF UNRELATED BUSINESS INCOME, IF ANY. THE COOPERATIVE FOLLOWS FASB ASC 740-10, INCOME TAXES, WHICH RELATES TO ACCOUNTING FOR UNCERTAIN TAX POSITIONS. THE COOPERATIVE FILES AN EXEMPT ORGANIZATION TAX RETURN IN THE U.S. FEDERAL JURISDICTION. PART XII, LINE 4B - OTHER ADJUSTMENTS: 2022 MARGINS ALLOCATED TO MEMBERS IN 2023 5,357,060. KEC GOLF CLASSIC 22480 22480 175 1000 5329 22480 22480 175 1000 5329 6504 15976 1 COMMUNITY ACTION PARTNERSHIP 4144 W INDUSTRIAL LOOP COEUR D ALENE ID 83815 820263863 501(C)(3) 7500 0 PROVIDING ASSISTANCE TO LOCAL COMMUNITY POPULATION IN PAYING UTILITY BILLS 1 PART I, LINE 2: KOOTENAI ELECTRIC HAS A WRITTEN POLICY REGARDING DONATIONS. DONATION AND SPONSORSHIP APPLICANTS MUST FILL OUT AN ONLINE APPLICATION AVAILABLE AT WWW.KEC.COM. STAFF REVIEWS APPLICATIONS AND CONFIRMS THE APPLICANT IS A NOT-FOR-PROFIT ENTITY OR A KEC MEMBER. THE BOARD TRUSTS THAT THE FUNDS ARE BEING USED FOR THEIR INTENDED PURPOSE. X 0 1 X X 0 0 0 DOUGLAS ELLIOT GENERAL MANAGER/CEO 276500 0 0 0 23187 0 191825 0 34486 0 525998 0 0 0 JULIE TURBIN VP OPS & OPS SERVICES 159679 0 200 0 18363 0 206413 0 32469 0 417124 0 0 0 KEITH GEDNALSKE FOREMAN 178183 0 0 0 12159 0 93336 0 21900 0 305578 0 0 0 DIANE GRISWOLD VP HUMAN RESOURCE 161568 0 0 0 12921 0 83942 0 24217 0 282648 0 0 0 RYAN VANDEWERKER ELECTROTECH 179690 0 0 0 2682 0 47813 0 34337 0 264522 0 0 0 REED CHRISTENSEN VP ACCOUNTING/FINANCE & IT/CFO 163534 0 0 0 11104 0 45674 0 36915 0 257227 0 0 0 BENJAMIN COOK JOURNEYMAN SERVICE LINEMAN 150454 0 0 0 16608 0 52895 0 35620 0 255577 0 0 0 PART I, LINE 1A KEC OFFERS GYM MEMBERSHIP REIMBURSEMENTS THROUGH PAYROLL. EMPLOYEES MAY ENROLL IN A MONTHLY INDIVIDUAL REIMBURSEMENT OR A FAMILY REIMBURSEMENT. THE INDIVIDUAL RATE IS UP TO $30/MONTH AND THE FAMILY RATE IS UP TO $50/MONTH. PART I, LINE 1B THERE IS NO FORMAL POLICY ON THE GYM MEMBERSHIP REIMBURSEMENTS. THE HUMAN RESOURCE DEPARTMENT AND GENERAL MANAGER ARE RESPONSIBLE FOR OFFERING THE BENEFIT AS A PART OF WELLNESS INCENTIVES OFFERED TO EMPLOYEES. THE HR DEPARTMENT REQUIRES PROOF OF THE EMPLOYEE'S MONTHLY GYM MEMBERSHIP COST, WHICH CAN BE SUBSTANTIATED WITH A RECEIPT OR A BANK STATEMENT. THIS DOCUMENTATION IS RETAINED WITH THE FORM THE EMPLOYEE FILLS OUT REQUESTING THE REIMBURSEMENT. SUBSTANTIATION IS ONLY REQUIRED WHEN FIRST SIGNING UP FOR THE REIMBURSEMENT AND THE EMPLOYEE IS REQUIRED TO INFORM KEC WHEN THEY TERMINATE THEIR GYM MEMBERSHIP. KEC CAN (AND HAS) AUDIT THE EMPLOYEE'S CLAIM FOR GYM MEMBERSHIP REIMBURSEMENT AT ANY TIME. PART II, COLUMN C: INCLUDED IN COLUMN "C" , DEFERRED COMPENSATION, IS THE ESTIMATED ANNUAL INCREASE IN THE ACTUARIAL VALUE OF THE DEFINED BENEFIT PLAN. FORM 990, PART VI, SECTION A, LINE 6 KOOTENAI ELECTRIC COOPERATIVE, INC. HAS ONE CLASS OF MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A THERE IS ONE CLASS OF MEMBERSHIP FOR ALL MEMBERS AND EACH MEMBER IS ENTITLED TO ONE VOTE. FORM 990, PART VI, SECTION A, LINE 7B THE MEMBERS MUST APPROVE SIGNIFICANT DECISIONS OF THE GOVERNING BODY AS DEFINED IN ITS ARTICLES OF INCORPORATION AND BYLAWS. EACH MEMBER IS ENTITLED TO ONE VOTE. FORM 990, PART VI, SECTION A, LINE 8B NO COMMITTEES HAVE BROAD AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BOARD. FORM 990, PART VI, SECTION B, LINE 11B AFTER THE FORM 990 HAS BEEN PREPARED BY THE INDEPENDENT ACCOUNTANTS, MANAGEMENT REVIEWS THE FORM FOR ACCURACY AND COMPLETENESS. ONCE MANAGEMENT BELIEVES THE FORM IS COMPLETE AND ACCURATE, THE FORM IS PROVIDED TO THE BOARD. MANAGEMENT IS AVAILABLE TO ANSWER ANY QUESTIONS THE BOARD MAY HAVE, AND THE FORM IS SIGNED AND FILED. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY COVERS ALL DIRECTORS, OFFICERS AND KEY EMPLOYEES OF THE COOPERATIVE. THE BOARD OF DIRECTORS INTERPRETS AND ENFORCES THE POLICY. THE COOPERATIVE'S LEGAL COUNSEL ANNUALLY REVIEWS THIS POLICY WITH ALL DIRECTORS, OFFICERS AND KEY EMPLOYEES. THE MINUTES OF ALL BOARD MEETINGS RECORD ANY DISCLOSURES, VOTES, AUTHORIZATIONS AND OTHER ACTIONS TAKEN UNDER THIS POLICY. EACH DIRECTOR, OFFICER, AND KEY EMPLOYEE COMPLETES AND SIGNS, ANNUALLY, A DISCLOSURE QUESTIONNAIRE FORM. IF ANYONE DISCOVERS ANY INFORMATION OR FACT THAT COULD IMPACT ANOTHER'S COMPLIANCE WITH THIS POLICY, IT MUST BE DISCLOSED TO THE BOARD. DEPENDING UPON THE NATURE AND SEVERITY OF THE VIOLATION OF THIS POLICY, A DIRECTOR MAY BE DISQUALIFIED AND REMOVED FROM THE BOARD AND AN EMPLOYEE MAY BE TERMINATED. FORM 990, PART VI, SECTION B, LINE 15 EACH YEAR, THE BOARD OF DIRECTORS REVIEWS AND APPROVES COMPENSATION FOR THE GENERAL MANAGER. REVISIONS TO SALARY RANGES ARE BASED ON LABOR MARKET SURVEYS, ECONOMIC CONDITIONS, THE FINANCIAL CONDITION OF THE COOPERATIVE, AND ANY OTHER PERTINENT FACTORS AVAILABLE AT THE TIME. THE COOPERATIVE UTILIZES WAGE AND BENEFIT SURVEY DATA COLLECTED BY MILLIMAN, INC. INCLUDING THE SPOKANE/INLAND NORTHWEST COMPENSATION SURVEY, THE NORTHWEST UTILITIES SALARY AND WAGE SURVEY, THE NORTHWEST BENEFITS SURVEY, AND DATA COLLECTED BY NATIONAL RURAL COOPERATIVE ASSOCIATION'S (NRECA) NATIONAL COMPENSATION SYSTEM. IN ADDITION TO AN ANNUAL REVIEW OF THE GENERAL MANAGER'S COMPENSATION, THE GENERAL MANAGER RECOMMENDS AN ANNUAL COMPENSATION BUDGET FOR ALL EMPLOYEES, WHICH IS APPROVED BY THE BOARD. REVISIONS TO SALARY RANGES ARE BASED ON LABOR MARKET SURVEYS, ECONOMIC CONDITIONS, THE FINANCIAL CONDITION OF THE COOPERATIVE, AND ANY OTHER PERTINENT FACTORS AVAILABLE AT THE TIME. THE COOPERATIVE UTILIZES WAGE AND BENEFIT SURVEY DATA COLLECTED BY MILLIMAN, INC. INCLUDING THE SPOKANE/INLAND NORTHWEST COMPENSATION SURVEY, THE NORTHWEST UTILITIES SALARY AND WAGE SURVEY, THE NORTHWEST BENEFITS SURVEY, AND DATA COLLECTED BY NATIONAL RURAL COOPERATIVE ASSOCIATION'S (NRECA) NATIONAL COMPENSATION SYSTEM. FORM 990, PART VI, SECTION C, LINE 19 THE COOPERATIVES BYLAWS, ARTICLES OF INCORPORATION, AND ANNUAL REPORTS ARE POSTED ON THE ORGANIZATION'S WEBSITE. COPIES OF THE COOPERATIVE'S FORM 990, ANNUAL REPORT FROM OUR EXTERNAL AUDITORS AND THE ASSOCIATED FINANCIAL STATEMENTS, CFC FORM 7, AND CONFLICTS OF INTEREST POLICY ARE AVAILABLE UPON REQUEST. KEC MEMBERS CAN ALSO ACCESS BOARD MEETING AGENDAS, MEETING MINUTES AND THE LAST THREE YEARS OF FILED IRS FORM 990 BY LOGGING INTO THEIR ACCOUNT ONLINE. FORM 990, PART VII, COLUMN F, OTHER COMPENSATION: INCLUDED IN OTHER COMPENSATION IS THE ESTIMATED CURRENT YEAR INCREASE OR DECREASE IN THE VALUE OF THE DEFINED BENEFIT PLAN FOR THE EMPLOYEES OF THE COOPERATIVE WHO ARE COVERED BY THE PENSION PLAN. FORM 990, PART IX, LINE 4, BENEFITS PAID TO OR FOR MEMBERS: 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 BY-LAWS OF THE COOPERATIVE. FORM 990, PART IX, LINE 24E, ALL OTHER EXPENSES: THE LABOR, PENSION, OTHER EMPLOYEE BENEFITS AND PAYROLL TAXES REPORTED ON LINES 5-10 ARE ALREADY INCLUDED IN DISTRIBUTION EXPENSE, ADMINISTRATIVE & GENERAL EXPENSE AND CUSTOMER EXPENSE. THEREFORE, THESE AMOUNTS ARE BEING SUBTRACTED OUT AS AN OTHER DEDUCTION ON LINE 24E IN THE AMOUNT OF $15,916,247. FORM 990, PART XI, LINE 9: RETIREMENT OF CAPITAL CREDITS -2,656,167. UNCLAIMED CAPITAL CREDITS -195,960. ABANDONED CAPITAL CREDITS 491,508. DISCOUNT ON EARLY RETIREMENT OF CAPITAL CREDITS 1,409,137. OTHER COMPREHENSIVE LOSS -273,629. 2022 MARGINS ALLOCATED TO MEMBERS IN 2023 5,357,060. KOOTENAI ELECTRIC TRUST INC 2451 W DAKOTA AVENUE HAYDEN ID 83835 743063596 MAKING CHARITABLE CONTRIBUTIONS ID 501(C)(3) LINE 10 N/A 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 1 0 0 1 0 KOOTENAI ELECTRIC TRUST INC R 86469 CASH