2025-04-25T11:32:20-05:00 2024-12-31 450250958 EIDE BAILLY LLP 345 N REID PL STE 400 SIOUX FALLS SD 571037034 990 2024-01-01 810135783 FLATHEAD ELECTRIC COOPERATIVE INC FLAT 4067514483 2510 US HIGHWAY 2 EAST KALISPELL MT 599012397 STEVE STREICH SECRETARY/TREASURER 4067514483 2025-04-23 1 1 LAURIE HANSON CPA P00851848 6053391999 2025-04-23 2024 2025-03-06 01:10:19Z MARK JOHNSON 2510 US HIGHWAY 2 EAST KALISPELL MT 599012397 140568577 0 X WWW.FLATHEADELECTRIC.COM X 1939 MT TO PROVIDE RURAL ELECTRIC POWER DISTRIBUTION TO MEMBERS IN OUR SERVICE AREA. 9 9 181 0 0 0 0 0 124756323 137626355 176584 418925 2293278 2441034 127226185 140486314 105728 56860 5606841 5269392 21805884 22563882 0 0 0 97898620 110410914 125417073 138301048 1809112 2185266 282672078 294275051 195511147 203407092 87160931 90867959 AS A MEMBER OWNED COOPERATIVE, WE STRIVE TO PROVIDE COMPETITIVE AND RELIABLE SERVICE, ACHIEVE THE HIGHEST LEVEL OF MEMBER SATISFACTION AND ENHANCE THE QUALITY OF LIFE IN OUR COMMUNITIES. 0 0 GENERATION AND ACQUISITION OF ELECTRIC POWER FOR DISTRIBUTION TO APPROXIMATELY 59,078 MEMBERS (AS OF DECEMBER 31, 2024) ALONG 5,273 MILES OF ELECTRIC LINES, ADDING 89 MILES OF UNDERGROUND LINES, AND REMOVING 21 MILES OF OVERHEAD LINES, IN AND AROUND THE FLATHEAD VALLEY, LIBBY, ELK BASIN, AND COOKE CITY AREAS OF MONTANA. 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 1 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 1 159 0 1 181 1 0 0 0 0 0 0 0 147197212 2629072 0 0 0 X 9 9 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X TOD YOUNG 4067514483 2510 US HIGHWAY 2 EAST KALISPELL MT 59901 X GARY BOE PRESIDENT 24.00 X X 42563 0 0 STACEY SCHNEBEL VICE PRESIDENT 16.00 X X 40095 0 0 STEVE STREICH SECRETARY/TREASURER 18.00 X X 43492 0 0 DUANE BRAATEN TRUSTEE 17.00 X 47577 0 0 JERRY BYGREN TRUSTEE 17.00 X 37640 0 0 GARY CARMICHAEL TRUSTEE 14.00 X 53117 0 0 TERRY CROOKS TRUSTEE 15.50 X 23121 0 4717 ALAN RUBY TRUSTEE 17.00 X 48173 0 0 JOHN SLINEY TRUSTEE (BEG MAY) 12.00 X 23728 0 0 JAKE VAN HOUTEN TRUSTEE (END MARCH) 15.00 X 13034 0 0 MARK JOHNSON CEO AND GENERAL MANAGER 50.00 X 383736 0 266052 JASON WILLIAMS COO 45.00 X 256042 0 117577 TIA ROBBIN CAO 45.00 X 207424 0 74474 TOD YOUNG CFO 50.00 X 199838 0 130771 JOHN GOROSKI COMPLIANCE MANAGER 45.00 X 197568 0 121451 BRIAN PLUNKETT ENGINEERING MANAGER 50.00 X 189148 0 126829 DALANE DAKEN JOURNEYMAN LINE FOREMAN 48.20 X 184458 0 66334 AL THORSON OPERATIONS MANAGER 50.00 X 185539 0 99795 CODY KATZER JOURNEYMAN LINE FOREMAN 45.60 X 178307 0 53544 DOUG GROB FORMER TRUSTEE 0.00 X 15042 0 0 2369642 0 1061544 73 1 1 0 ASPLUNDH TREE EXPERT LLC 1700 SOLUTIONS CENTER CHICAGO IL 60677 VEGETATION MANAGEMENT CONTRACTOR 1985034 ASSOCIATED ARBORISTS 1760 NW EMERSON WAY MCMINNVILLE OR 97128 VEGETATION MANAGEMENT CONTRACTOR 1702646 ASPEN URBAN FORESTRY INC 745 CAPISTRANO DRIVE KALISPELL MT 59901 VEGETATION MANAGEMENT CONTRACTOR 816342 NATIONAL INFORMATION SOLUTIONS COOPERATI ONE INNOVATIONS CIRCLE LAKE SAINT LOUIS MO 63367 COMPUTER SOFTWARE COMPANY 800922 ROCKY MOUNTAIN CONTRACTORS INC 3268 OCEAN VIEW DRIVE HELENA MT 59602 UTILITY CONSTRUCTION CONTRACTOR 773907 23 SALE OF ELECTRICITY 221000 137332298 137332298 294057 294057 137626355 136097 136097 122308 535607 0 0 122308 535607 657915 657915 362861 80033 282828 282828 282828 19008 2230 16778 16778 OTHER COOPERATIVE CAPITAL CREDITS 221000 1766341 1766341 1766341 140486314 139392696 0 1093618 X 56860 5269392 1915153 15042 14988216 4411063 1234408 7048348 11049685 COST OF POWER 76367338 DISTRIBUTION - MAINTENA 11588484 DISTRIBUTION - OPERATIO 5784784 TAXES 5485458 -6913183 138301048 50429 3694 16362531 17249176 1582335 1499110 1867565 1763042 3011949 2154270 432570638 176241888 245223798 256328750 739012 887566 13819785 14106105 14674 283338 282672078 294275051 16671626 19024358 145553860 151256949 2093804 1055735 31191857 32070050 195511147 203407092 X 0 0 4349031 4691052 82811900 86176907 87160931 90867959 282672078 294275051 X 2185266 1521762 X X 0 1 X 1 0 6418294 6418294 29554123 9419820 20134303 25292996 13144167 12148829 371305225 153677901 217627324 256328750 DEFERRED CREDITS 30434675 MEMBER DEPOSITS 1366441 OPERATING LEASE LIABILITY 268934 32070050 X 140469536 0 140469536 16778 16778 140486314 133014878 -16778 -16778 133031656 5269392 5269392 138301048 PART X, LINE 2: THE COOPERATIVE EVALUATES ITS TAX POSITIONS THAT HAVE BEEN TAKEN OR ARE EXPECTED TO BE TAKEN ON THE INCOME TAX RETURNS TO DETERMINE IF AN ACCRUAL IS NECESSARY FOR UNCERTAIN TAX POSITIONS. THE COOPERATIVE WOULD RECOGNIZE FUTURE AND ACCRUED INTEREST AND PENALTIES RELATED TO UNRECOGNIZED TAX BENEFITS IN INCOME TAX EXPENSE IF SUCH INTEREST AND PENALTIES ARE INCURRED. PART XI, LINE 4B - OTHER ADJUSTMENTS: SCH G GAMING REVENUES 16,778. PART XII, LINE 2D - OTHER ADJUSTMENTS: SCH G GAMING REVENUES -16,778. PART XII, LINE 4B - OTHER ADJUSTMENTS: ALLOCATION OF 2024 OPERATING MARGINS TO MEMBERS IN 2025 5,269,392. 19008 2230 0 0.00000 19008 2230 2230 16778 MT 0 THERE IS NO GAMING LICENSE REQUIRED IN MONTANA. 0 1 0 0.50000 0.50000 TOD YOUNG 2510 US HIGHWAY 2E KALISPELL MT 59901 0 TOD YOUNG 200 FINANCIAL RESPONSIBILITY X 1 19008 SCHEDULE G, PART III, LINE 17B TOTAL PROCEEDS COLLECTED: $19,008 NET COST OF PRIZES: $1,156 WHERE PROCEEDS WENT: NORTH VALLEY FOOD BANK, COLUMBIA FALLS FOOD BANK, FLATHEAD FOOD BANK, BIGFORK FOOD BANK, WEST SHORE FOOD BANK, LIBBY FOOD BANK, NW MONTANA VETERANS FOOD PANTRY 1 WHITEFISH COMMUNITY FOUNDATION PO BOX 1060 WHITEFISH MT 59937 810533002 501(C)3 15120 0 COMMUNITY PROJECTS FLATHEAD FOOD BANK 1203 US HWY 2 KALISPELL MT 59901 810399818 501(C)3 10103 1688 FAIR MARKET VALUE POUNDS OF MEAT GENERAL ASSISTANCE 2 0 PART I, LINE 2: THE COOPERATIVE MAY PROVIDE DONATIONS OR CONTRIBUTIONS TO ELIGIBLE NONPROFIT ORGANIZATIONS. THE COOPERATIVE DOES NOT MONITOR THE USE OF FUNDS PROVIDED. X X X 0 0 0 MARK JOHNSON CEO AND GENERAL MANAGER 379775 0 433 0 3528 0 230114 0 39993 0 653843 0 0 0 JASON WILLIAMS COO 253948 0 379 0 1715 0 83719 0 36988 0 376749 0 0 0 TOD YOUNG CFO 192411 0 309 0 7118 0 102802 0 29702 0 332342 0 0 0 JOHN GOROSKI COMPLIANCE MANAGER 194614 0 433 0 2521 0 107828 0 16272 0 321668 0 0 0 BRIAN PLUNKETT ENGINEERING MANAGER 186939 0 406 0 1803 0 93490 0 35915 0 318553 0 0 0 AL THORSON OPERATIONS MANAGER 183884 0 1655 0 0 0 87731 0 14505 0 287775 0 0 0 TIA ROBBIN CAO 204186 0 298 0 2940 0 49914 0 27235 0 284573 0 0 0 DALANE DAKEN JOURNEYMAN LINE FOREMAN 125872 0 298 0 58288 0 32996 0 35399 0 252853 0 0 0 CODY KATZER JOURNEYMAN LINE FOREMAN 129572 0 298 0 48437 0 20206 0 35426 0 233939 0 0 0 DOUG GROB FORMER TRUSTEE 0 0 0 0 15042 0 0 0 0 0 15042 0 15042 0 SCHEDULE J, PART II, COLUMN (C) PART II COLUMN (C) INCLUDES THE CHANGE IN ACTUARIAL VALUE IN THE DEFINED BENEFIT PLAN FOR ALL PERSONS INCLUDED ON SCHEDULE J. THE ACTUAL CONTRIBUTION TO THE DEFINED BENEFIT PLAN FOR EACH RESPECTIVE EMPLOYEE IS NOT INCLUDED IN COLUMN (C). FORM 990, PART VI, SECTION A, LINE 6 MEMBERS CONSIST OF INDIVIDUALS AND BUSINESSES THAT RECEIVE ELECTRIC SERVICE FROM THE COOPERATIVE. MEMBERS RECEIVE A SHARE OF THE COOPERATIVE'S OPERATING MARGINS THROUGH AN ALLOCATION AND APPROVED RETIREMENT OF PATRONAGE CAPITAL. FORM 990, PART VI, SECTION A, LINE 7A TRUSTEE NOMINATIONS A. IN ANY YEAR IN WHICH A VACANCY IN THE OFFICE OF TRUSTEE SHALL OCCUR IN ANY DISTRICT, THERE SHALL BE NOMINATED FROM THE VACANT DISTRICT AT LEAST ONE CANDIDATE FOR THE OFFICE OF TRUSTEE. B. A CANDIDATE FOR EACH VACANCY SHALL PROVIDE NOTICE OF HIS OR HER INTEREST IN THE VACANT OR EXPIRING POSITION BY SUBMITTING A NOMINATING PETITION TO THE NOMINATING COMMITTEE OF THE BOARD AT LEAST THIRTY (30) BUSINESS DAYS BEFORE THE ANNUAL MEETING. EACH PETITION SHALL CONSIST OF THE NAME, ADDRESS, TELEPHONE NUMBER, AND ORIGINAL AND DATED SIGNATURE OF NOT LESS THAN TWENTY-FIVE (25) MEMBERS FROM THE CANDIDATE'S DISTRICT, AND SHALL BE SIGNED BY THE CANDIDATE ASSERTING THEIR QUALIFICATIONS FOR THE POSITION. C. THE NOMINATING COMMITTEE SHALL REVIEW THE PETITIONS TO DETERMINE THAT ALL SIGNERS ARE MEMBERS AND RESIDE IN SAID DISTRICT, AND THAT THE NOMINEE IS QUALIFIED TO SERVE. D. A WRITTEN PROFILE OF EACH NOMINEE SHALL BE REQUIRED. TRUSTEE ELECTIONS A. THE ELECTION OF TRUSTEES SHALL TAKE PLACE IN CONJUNCTION WITH THE ANNUAL MEETING OF THE MEMBERS AT WHICH TIME MEMBERS SHALL ELECT THE NUMBER OF TRUSTEES NECESSARY TO FILL THE POSITION OR POSITIONS OF THOSE WHOSE TERMS HAVE EXPIRED OR BEEN VACATED. B. ELECTIONS OF TRUSTEES SHALL BE DETERMINED BY A PLURALITY VOTE. IF, AFTER A RECOUNT, THERE IS A TIE FOR A TRUSTEE POSITION, THE WINNER SHALL BE DETERMINED BY A COIN TOSS. C. IF, BECAUSE OF REDISTRICTING, TWO (2) BOARD MEMBERS WHOSE TERMS HAVE NOT EXPIRED REPRESENT THE SAME DISTRICT, AN ELECTION SHALL BE HELD BETWEEN THESE TWO CURRENT BOARD MEMBERS. FORM 990, PART VI, SECTION A, LINE 7B CHANGES TO THE COOPERATIVE'S BY-LAWS REQUIRE APPROVAL BY ITS MEMBERS. EACH MEMBER IS ENTITLED TO ONE VOTE FOR MAKING CHANGES TO THE COOPERATIVE'S BY-LAWS. 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 SUBMITTED TO THE BOARD OF TRUSTEES FOR THEIR REVIEW AND APPROVAL. UPON RECEIVING THEIR APPROVAL, THE FORM IS SIGNED AND FILED. FORM 990, PART VI, SECTION B, LINE 12C MANAGEMENT ENSURES THE ENFORCEMENT OF THE POLICY. MANAGEMENT AND THE BOARD OF TRUSTEES REVIEW ANY POTENTIAL CONFLICTS OF INTEREST, AT LEAST ANNUALLY. ANY POTENTIAL CONFLICTS ARE DISCUSSED WITH LEGAL COUNSEL IN ORDER TO DETERMINE THE APPROPRIATE FORM OF ACTION, IF NECESSARY, IN ACCORDANCE WITH THE POLICY. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF TRUSTEES REVIEWS THE CEO AND GENERAL MANAGER'S COMPENSATION AND, TO THE EXTENT POSSIBLE, COMPARES IT TO THE COMPENSATION OF CEO AND GENERAL MANAGERS OF OTHER COMPARABLY-SIZED ELECTRIC COOPERATIVES WITHIN THE REGION USING AN INDEPENDENT CONSULTANT AND SURVEY INFORMATION OBTAINED FROM NRECA AND MILLIMAN. ADDITIONALLY, THE BOARD OF TRUSTEES REVIEWS THE CEO AND GENERAL MANAGER'S COMPENSATION RELATIVE TO THE COMPENSATION OF OTHER EXECUTIVE-LEVEL POSITIONS WITHIN THE GEOGRAPHICAL AREA AS A MEASURE OF REASONABLENESS. AFTER CONSIDERATION OF THESE FACTORS, ALONG WITH THE PERFORMANCE OF THE INDIVIDUAL UNDER REVIEW, THE BOARD OF TRUSTEES APPROVES THE CEO AND GENERAL MANAGER'S COMPENSATION PACKAGE. COMPENSATION OF OTHER OFFICERS OR KEY EMPLOYEES, IF ANY, IS DETERMINED ANNUALLY BY THE CEO AND GENERAL MANAGER, CHIEF ADMINISTRATIVE OFFICER (CAO) AND CHIEF OPERATING OFFICER (COO) UTILIZING DATA PREPARED BY AN INDEPENDENT CONSULTANT ALONG WITH A SALARY MATRIX AND WRITTEN PERFORMANCE EVALUATIONS. FORM 990, PART VI, SECTION C, LINE 19 SOME DOCUMENTS AND INFORMATION ARE AVAILABLE ON THE ORGANIZATION'S WEBSITE. OTHER INFORMATION IS AVAILABLE UPON REQUEST, IN ACCORDANCE WITH BOARD POLICY. 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. 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 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. 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 XI, LINE 9: ALLOCATION OF 2024 OPERATING MARGINS TO MEMBERS IN 2025 5,269,392. OTHER DISBURSEMENTS -280,842. RETIREMENT OF CAPITAL CREDITS -3,466,788. FORM 990, PART XII, LINE 2C THE BOARD OF TRUSTEES IS RESPONSIBLE FOR OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT. ROUNDUP FOR SAFETY INC 2510 HIGHWAY 2 EAST KALISPELL MT 599012397 810518152 FUND SAFETY RELATED PROJECTS IN THE COMMUNITY. MT 501(C)(3) LINE 7 FLATHEAD ELECTRIC COOPERATIVE INC 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 1 0 ROUNDUP FOR SAFETY R 265715 CASH