2023-11-01T08:52:30-05:00 2022-12-31 450310328 BRADY MARTZ & ASSOCIATES PC PO BOX 14296 GRAND FORKS ND 582084296 990 2022-01-01 411857633 LAKE COUNTRY POWER LAKE 2187425751 26039 BEAR RIDGE DRIVE COHASSET MN 55721 MARK BAKK GENERAL MANAGER 2187425751 2023-10-31 1 MARK BAKK 999009999 0 DAVID HOLT P00014251 7017754685 2023-10-31 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z MARK BAKK 26039 BEAR RIDGE DRIVE COHASSET MN 55721 111715693 0 X WWW.LAKECOUNTRYPOWER.COOP X 1996 MN TO PROVIDE ELECTRICITY AND OTHER SERVICES TO THE COOPERATIVE'S MEMBERS. 7 5 153 0 10418 7898 0 0 95617761 108745308 230037 74375 3864445 2045192 99712243 110864875 27816 37929 7330352 7071866 1333422 1066185 0 0 0 91050750 102695593 99742340 110871573 -30097 -6698 360562297 369734330 243786163 245319527 116776134 124414803 WE DELIVER SAFE AND RELIABLE ELECTRIC SERVICE, MANAGE MEMBER RESOURCES WISELY AND SERVE TO HELP OUR COMMUNITIES PROSPER. 0 0 PROVISION OF ELECTRICITY AND OTHER SERVICES TO THE COOPERATIVE'S 43,980 MEMBERS. 0 0 0 0 0 0 0 1 0 1 0 1 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 1 0 0 0 0 0 1 1 1 0 1 50 0 153 1 1 1 0 0 0 0 108745308 3686559 0 0 0 X 7 5 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X TRACY PETERSON WIRTANEN 2187425751 8535 PARK RIDGE DRIVE MOUNTAIN IRON MN 55768 JASON LONG TREASURER 5.63 X 12900 0 0 DANIEL KINGSLEY VICE PRESIDENT 7.50 X 14400 0 0 JAMES HUHTA DIRECTOR (THROUGH APRIL 2022) 6.46 X 4833 0 0 STEVE RAUKAR DIRECTOR 12.15 X 16800 0 0 CRAIG CARLSON DIRECTOR (THROUGH APRIL 2022) 5.54 X 4533 0 0 CRAIG OLSON PRESIDENT 8.08 X 17100 0 0 ROBERT BRUCKBAUER DIRECTOR 8.87 X 10500 0 0 MICHAEL FORSMAN SECRETARY 9.37 X 15600 0 0 LARRY ANDERSON DIRECTOR 11.29 X 18000 0 0 MARK BAKK GENERAL MANAGER 50.00 X 329599 0 121045 DEREK HOWE CHIEF OPERATING OFFICER 50.00 X 225356 0 105633 TRACY PETERSON WIRTANEN CHIEF FINANCIAL OFFICER 50.00 X 197923 0 49863 WILLIAM BUSSEY DIRECTOR OF SAFETY & RISK 50.00 X 185383 0 93007 BRIAN GRONDAHL CREW CHIEF 52.73 X 166276 0 58821 CRAIG SISTAD CREW CHIEF 54.05 X 169209 0 30304 WILLIAM KOSCHAK CREW CHIEF 52.38 X 163348 0 17371 MARK POHTO CREW CHIEF 54.04 X 172328 0 19701 1724088 0 495745 69 0 1 0 ZIELIE'S TREE SERVICE INC 28190 STATE HIGHWAY 137 ASHLAND WI 54806 RIGHT OF WAY CLEARING 5072286 LAKE STATES CONSTRUCTION LLC 25172 COMMERCIAL DRIVE GRAND RAPIDS MN 55744 CONSTRUCTION OF ELECTRICAL DIST. LINES 2541592 NATIONAL INFORMATION SOLUTIONS COOPERATI 3131 TECHNOLOGY DRIVE NW MANDAN ND 58554 SOFTWARE SUPPORT 691957 INTEGRITY CONTRACTING INC 17827 COUNTY 2 SHEVLIN MN 56676 CONSTRUCTION OF ELECTRICAL DIST. LINES 561064 HAWK CONSTRUCTION INC 1833 W US HWY 2 GRAND RAPIDS MN 55774 CONSTRUCTION OF SUBSTATION 412500 9 RESIDENTIAL SALES-RURAL 221000 80800788 80800788 COMMERCIAL SALES 221000 17407974 17407974 INDUSTRIAL SALES 221000 9642643 9642643 FORFEITED DISC/PENALTIES 221000 300383 300383 RENT-ELECTRIC PROPERTY 221000 181066 181066 412454 412454 108745308 118608 118608 91036 135269 -44233 -44233 -44233 600382 715549 -115167 -115167 CAPITAL CREDITS 517000 2142764 2142764 NCB, LLC K-1 517000 10418 10418 OTHER NON-OPERATING INCOME 517000 7177 7177 2160359 110864875 110780082 10418 74375 X 37929 7071866 1066185 37188 6909187 11046470 COST OF POWER 57241822 DIST EXP - MAINTENANCE 12302258 ADMIN & GENERAL EXPENSE 5764168 DIST EXP - OPERATIONS 5172671 4221829 110871573 9622232 6290810 12226110 12242836 6036527 8158096 678250 519292 411343959 127719482 275256913 283624477 7758240 10465835 48984025 48432984 360562297 369734330 20262775 24874943 10756 11072 17712 18054 222817145 219676846 677775 738612 243786163 245319527 X 0 0 0 0 116776134 124414803 116776134 124414803 360562297 369734330 X -6698 7645367 X X 0 1 X 1 0 0 1 X 3222816 3222816 24551961 5850456 18701504 27746547 15273709 12472838 355822635 106595317 249227319 283624477 GREAT RIVER ENERGY - PATR CAP 39286038 C NRUCFC - CAPITAL TERM CERTS 2265912 C NRTC - PATRONAGE CAPITAL 903653 C NRUCFC - PATRONAGE CAPITAL 863008 C RESCO - PATRONAGE CAPITAL 829807 C ECONOMIC DEVELOPMENT LOANS 748952 C OTHER PROGRAM RELATED 3265808 C NISC - PATRONAGE CAPITAL 269806 C 48432984 CUST DEPOSITS-REFUNDABLE 738612 738612 X 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 LAKE COUNTRY POWER ELECTRIC TRUST. THESE FUNDS ARE TRANSFERRED DIRECTLY TO THE TRUST ON A MONTHLY BASIS. FUNDS THAT EXIST AT THE END OF THE YEAR ARE A RESULT OF A TIMING DIFFERENCE IN THE RECEIPT OF THE FUNDS AND THE RELEASE OF THEM TO THE TRUST. FOR THE YEAR ENDED DECEMBER 31, 2022, THE ACCOUNT HELD $18,054. PART X, LINE 2: THE COMPANY'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 COMPANY ARE SUBJECT TO EXAMINATION BY THE IRS, GENERALLY FOR THREE YEARS AFTER THEY WERE FILED. ALL FILINGS ARE CURRENT. 1 CHISHOLM COMMUNITY FOUNDATION 4 SW 3RD AVENUE CHISHOLM MN 55719 416031510 501(C)(3) 10000 0 SENATOR DAVID J. TOMASSONI BRIDGE OF PEACE MEMORIAL 1 PART I, LINE 2: LAKE COUNTRY POWER MAKES CHARITABLE DONATIONS TO SUPPORT ITS COMMUNITY. X X X X 0 0 0 MARK BAKK GENERAL MANAGER 329599 0 0 0 0 0 114020 0 9530 0 453149 0 0 0 DEREK HOWE CHIEF OPERATING OFFICER 225356 0 0 0 0 0 90635 0 17299 0 333290 0 0 0 WILLIAM BUSSEY DIRECTOR OF SAFETY & RISK 185383 0 0 0 0 0 72704 0 22234 0 280321 0 0 0 TRACY PETERSON WIRTANEN CHIEF FINANCIAL OFFICER 197923 0 0 0 0 0 49863 0 2065 0 249851 0 0 0 BRIAN GRONDAHL CREW CHIEF 166276 0 0 0 0 0 43823 0 16168 0 226267 0 0 0 CRAIG SISTAD CREW CHIEF 169209 0 0 0 0 0 10393 0 21081 0 200683 0 0 0 MARK POHTO CREW CHIEF 172328 0 0 0 0 0 4703 0 16168 0 193199 0 0 0 WILLIAM KOSCHAK CREW CHIEF 163348 0 0 0 0 0 10346 0 8195 0 181889 0 0 0 FORM 990, SCHEDULE J, PART II, COLUMN (C) INCLUDED IN SCHEDULE J, PART II, COLUMN "C", DEFERRED COMPENSATION, IS THE ESTIMATED ANNUAL INCREASE IN THE ACTUARIAL VALUE OF THE DEFINED BENEFIT PLAN. FOR THE FOLLOWING INDIVIDUALS, THE ESTIMATED INCREASE IS: MARK BAKK: $107,920 DEREK HOWE: $86,037 TRACY PETERSON WIRTANEN: $42,059 WILLIAM BUSSEY: $69,101 MARK POHTO: $2,657 CRAIG SISTAD: $0 BRIAN GRONDAHL: $41,773 WILLIAM KOSCHAK: $0 THESE AMOUNTS ARE ESTIMATES IN THE INCREASE OF THE VALUE OF THE PLAN AND ARE NOT CURRENT YEAR EXPENSES OF THE COOPERATIVE. CURRENT YEAR CONTRIBUTIONS INTO THE DEFINED BENEFIT PLAN WERE: MARK BAKK: $75,488 DEREK HOWE: $55,408 TRACY PETERSON WIRTANEN: $20,349 WILLIAM BUSSEY: $43,424 MARK POHTO: $24,438 CRAIG SISTAD: $0 BRIAN GRONDAHL: $24,438 WILLIAM KOSCHAK: $0 GREAT RIVER ENERGY CRAIG OLSON REPRESENTS THE COOP. ON THE GREAT RIVER ENERGY BOARD 57509789 PURCHASE OF ELECTRICITY FROM THE ORGANIZATION'S POWER SUPPLIER 0 GREAT RIVER ENERGY ROBERT BRUCKBAUER REPRESENTS THE COOP. ON THE GREAT RIVER ENERGY BOARD 57509789 PURCHASE OF ELECTRICITY FROM THE ORGANIZATION'S POWER SUPPLIER 0 FORM 990, PART VI, SECTION A, LINE 6 THE COOPERATIVE HAS ONE CLASS OF MEMBERS. ALL ELECTRIC CUSTOMERS BECOME MEMBERS WHEN THEIR ELECTRIC SERVICE IS ESTABLISHED. MEMBERS ARE RESPONSIBLE FOR ELECTING THE BOARD OF DIRECTORS, RECEIVE ALLOCATIONS OF THE COOPERATIVE'S NET INCOME, AND MAY AMEND THE ARTICLES OF INCORPORATION OR BY-LAWS. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERS OF THE COOPERATIVE ARE RESPONSIBLE FOR ELECTING REPRESENTATIVES TO SERVE ON THE BOARD OF DIRECTORS. THE COOPERATIVE'S SERVICE TERRITORY IS DIVIDED INTO NINE DISTRICTS AND EACH DISTRICT HAS ONE REPRESENTATIVE ON THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 7B THE MEMBERS MAY ALTER, AMEND, OR REPEAL THE BY-LAWS OF THE COOPERATIVE. FORM 990, PART VI, SECTION B, LINE 11B EACH MEMBER OF THE BOARD OF DIRECTORS WILL RECEIVE A COPY OF THE FORM 990 PRIOR TO FILING OF THE RETURN. THE BOARD WILL REVIEW AND APPROVE THE FILING OF THE RETURN. IN ADDITION, MANAGEMENT WILL PERFORM A DETAILED REVIEW OF THE RETURN IN ADVANCE OF ITS FILING. FORM 990, PART VI, SECTION B, LINE 12C THE COOPERATIVE'S CONFLICT OF INTEREST POLICY APPLIES TO DIRECTORS, OFFICERS, AND OTHER SENIOR MANAGEMENT. DIRECTORS COMPLETE CONFLICT OF INTEREST DISCLOSURE STATEMENTS ANNUALLY AT THE TIME OF THE BOARD REORGANIZATION. OFFICERS AND OTHER SENIOR MANAGEMENT COMPLETE A "CONFLICT OF INTEREST DISCLOSURE STATEMENT" UPON HIRING. STATEMENTS ARE REVIEWED BY HUMAN RESOURCES AT THAT TIME. SHOULD A CONFLICT ARISE AFTER HIRING, THE DIRECTOR, OFFICER, OR OTHER SENIOR MANAGEMENT IS RESPONSIBLE FOR DISCLOSING THE CONFLICT TO THE BOARD OF DIRECTORS. THE BOARD SHALL DETERMINE THE EXTENT AND NATURE OF ANY ACTUAL OR APPARENT CONFLICT OF INTEREST AND DECIDE WHAT ACTION IS TO BE TAKEN WITH RESPECT TO THE CONFLICT. ACTIONS AVAILABLE AT THE BOARD'S DISCRETION INCLUDE REQUIRING DIVESTITURE OF PROPERTY, IMPOSING CONDITIONS AND RESTRICTIONS, OR REQUIRING RESIGNATION OF THE DIRECTOR, OFFICER, OR EMPLOYEE. FORM 990, PART VI, SECTION B, LINE 15 THE SALARY OF THE CEO/GENERAL MANAGER IS APPROVED ANNUALLY BY THE BOARD OF DIRECTORS. THIS WAS LAST PERFORMED IN 2022. WAGE RATES FOR UNION EMPLOYEES ARE DETERMINED THROUGH NEGOTIATIONS, WITH THE FINAL CONTRACT BEING APPROVED BY THE BOARD OF DIRECTORS. THE COOPERATIVE HAS A RATIFIED UNION CONTRACT THROUGH DECEMBER 31, 2024. NON-UNION EMPLOYEES ARE REVIEWED ANNUALLY THROUGH A PROCESS THAT INCLUDES AN EVALUATION OF JOB PERFORMANCE, AN ANNUAL EMPLOYEE APPRAISAL, AND AN APPROVED RANGE OF WAGE INCREASES BASED ON A POLICY APPROVED BY THE BOARD OF DIRECTORS. THIS PROCESS WAS LAST COMPLETED IN 2022. FORM 990, PART VI, SECTION C, LINE 19 THE COOPERATIVE MAKES ITS GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY AVAILABLE UPON REQUEST. FINANCIAL STATEMENT INFORMATION IS INCLUDED IN THE COOPERATIVE'S ANNUAL REPORT. FORM 990, PART XI, LINE 9: BOOK TO TAX DIFFERENCE FROM TAXABLE 2,707,594. RETIREMENT OF CAPITAL CREDITS -2,751,688. ALLOCATED CAPITAL CREDITS 7,071,866. DONATED CAPITAL 405,313. RETIRED CAPITAL CREDITS GAIN 205,613. BOOK TO TAX DIFFERENCE FROM K-1 6,669. LAKE COUNTRY POWER ELECTRIC TRUST 26039 BEAR RIDGE DRIVE COHASSET MN 55721 206179494 COMMUNITY TRUST MN 501(C)(3) LINE 10 LAKE COUNTRY POWER 1 LAKE COUNTRY POWER HOLDINGS INC 26039 BEAR RIDGE DRIVE COHASSET MN 55721 411977064 HOLDING COMPANY MN LAKE COUNTRY POWER C 10927206 16839836 1.00000 1 LAKE STATES TREE SERVICE INC 26039 BEAR RIDGE DRIVE COHASSET MN 55721 410810558 TREE TRIMMING MN LAKE COUNTRY POWER HOLDINGS INC C 5521767 7276095 1.00000 1 LAKE STATES CONSTRUCTION INC 26039 BEAR RIDGE DRIVE COHASSET MN 55721 411367401 CONSTRUCTION OF ELECTRICAL SYSTEMS MN LAKE COUNTRY POWER HOLDINGS INC C 5249439 5708877 1.00000 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 LAKE COUNTRY POWER ELECTRIC TRUST R 210527 CASH TRANSFERRED PART IV: LAKE COUNTRY POWER HOLDINGS, INC OWNS 100% OF LAKE STATES TREE SERVICE, INC AND LAKE STATES CONSTRUCTION, INC AND FILES A CONSOLIDATED TAX RETURN WITH THESE SUBSIDIARIES. THE AMOUNTS REPORTED IN PART IV FOR INCOME AND ASSETS FOR LAKE COUNTRY POWER HOLDINGS, INC ARE THE CONSOLIDATED AMOUNTS AFTER ELIMINATIONS REPORTED ON ITS FORM 1120. THE AMOUNTS REPORTED FOR INCOME AND ASSETS FOR LAKE STATES TREE SERVICE, INC AND LAKE STATES CONSTRUCTION, INC ARE INCLUDED WITHIN THE CONSOLIDATED TOTALS REPORTED FOR LAKE COUNTRY POWER HOLDINGS, INC. LAKE COUNTRY POWER OWNS 100% OF LAKE COUNTRY POWER HOLDINGS, INC.