2022-10-04T10:39:26-05:00 2021-12-31 450250958 EIDE BAILLY LLP 200 E 10TH ST STE 500 SIOUX FALLS SD 571046375 990 2021-01-01 410128105 CONNEXUS ENERGY CONN 7633232600 14601 RAMSEY BOULEVARD RAMSEY MN 55303 YAN PAUL MARTINEZ VICE PRESIDENT/CFO 7633232600 2022-09-16 1 YAN PAUL MARTINEZ 999009999 LAURIE HANSON CPA P00851848 6053391999 2022-08-31 3 AAL1 IAL1 2021 2022-09-23 18:48:47Z GREG RIDDERBUSCH 14601 RAMSEY BOULEVARD RAMSEY MN 55303 274298765 0 X WWW.CONNEXUSENERGY.COM X 1937 MN PROVIDING UTILITY SERVICES TO MEMBERS. 8 8 293 0 0 0 0 0 253869150 271138164 663353 2090925 630606 749521 255163109 273978610 546029 330422 16433205 15499409 25799343 25950357 0 0 0 212384532 232198422 255163109 273978610 0 0 462654743 473343536 249992727 253610617 212662016 219732919 CONNEXUS ENERGY SERVES OUR MEMBERSHIP BY PROVIDING COST COMPETITIVE, RELIABLE ELECTRICITY AND RELATED SERVICES, WITH AN ENVIRONMENTAL COMMITMENT, AFFIRMING THE VALUE OF MEMBER COOPERATIVE OWNERSHIP. 0 0 CONNEXUS ENERGY PROVIDED UTILITY SERVICES TO APPROXIMATELY 140,985 MEMBERS IN EIGHT COUNTIES IN THE NORTH SUBURBAN AREA OF MINNEAPOLIS AND ST. PAUL, MN AND MAINTAINED 9,310 MILES OF LINES. 0 0 0 0 0 0 0 0 0 1 0 1 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 1 201 0 1 293 1 0 0 0 0 0 269726502 14754568 0 0 0 X 8 8 1 0 1 0 1 1 1 1 0 0 0 1 1 1 1 1 1 1 1 1 0 X KARI MILLER 7633232689 14601 RAMSEY BOULEVARD RAMSEY MN 55303 X FRAN BATOR CHAIR 24.00 0.00 X X 51484 0 0 MICHAEL CADY DIRECTOR/ASST. SECRETARY & TREASURER 12.00 0.00 X X 46531 0 0 DONALD HOLL DIRECTOR 13.00 0.00 X 27141 0 19500 PETER WOJCIECHOWSKI ASST. SECRETARY & TREASURER/DIRECTOR 15.00 0.00 X X 46551 0 0 SHELLY PETERSON DIRECTOR 17.00 0.00 X 46531 0 0 KENNETH FIERECK DIRECTOR 14.00 0.00 X 42031 0 4500 GORDON WESTERLIND SECRETARY/TREASURER 12.00 0.00 X X 27751 0 19000 MARK ETHEN VICE CHAIR 16.00 0.00 X X 27031 0 19500 GREG RIDDERBUSCH PRESIDENT/CEO 50.00 0.20 X 762327 0 56476 DON HALLER VP MEMBER SERVICES 45.00 0.30 X 256316 0 67400 BRIAN BURANDT VP POWER SUPPLY/BUS. DEVEL. 50.00 0.00 X 273889 0 58959 MARK KOPLIN VP TECHNOLOGY 45.00 0.00 X 249859 0 52606 YAN PAUL MARTINEZ VP/CFO 50.00 0.30 X 263621 0 43993 NICK LOEHLEIN VP ELECTRIC OPERATIONS 45.00 0.00 X 231756 0 62594 LINDA MAEGI VP EMPLOYEE SERVICES - FROM 01/2021 50.00 0.00 X 196306 0 52079 PETER MILLER VP HUMAN RES/STAFF EXEC UNTIL 3/2021 45.00 0.00 X 117954 0 19887 NANCY BASARA CONTROLLER 45.00 0.00 X 210801 0 55583 DEREK GROEBNER JOURNEY LINEMAN 59.00 0.00 X 183925 0 30626 JARED NEWTON MANAGER - ENGINEERING/SYS. OPERATIONS 45.00 0.00 X 176608 0 48885 JEFF HENDRICKSON MANAGER - FINANCE 45.00 0.00 X 169337 0 44476 MICHAEL BASH STAFF EXECUTIVE UNTIL 01/2021 0.00 0.00 X 486759 0 35419 3894509 0 691483 105 0 1 0 RP SCHROEDER CONSTRUCTION 18329 263RD AVE NW BIG LAKE MN 55309 CONSTRUCTION SERVICES 3015521 ASPLUNDH TREE EXPERTS LLC 1700 SOLUTIONS CENTER CHICAGO IL 60677 VEGETATION MANAGEMENT 2561809 NEXTERA ENERGY CAPITAL HOLDINGS 700 UNIVERSE BLVD JUNO BEACH FL 33408 SOLAR ENERGY STORAGE MGMT 1080382 CARR'S TREE SERVICE INC PO BOX 250 OTTERTAIL MN 56571 VEGETATION MANAGEMENT 1022131 WRIGHT TREE SERVICEINC PO BOX 1718 DES MOINES IA 50306 VEGETATION MANAGEMENT 1019340 30 SALE OF ELECTRICITY 221000 263274567 263274567 ALLOCATION OF GRE MARGINS 221000 4715000 4715000 UTILITY SERVICES REVENUE 221000 1232216 1232216 1916381 1916381 271138164 367922 367922 335398 0 335398 335398 335398 243024 1800134 0 320155 243024 1479979 1723003 1723003 EQUITY EARNINGS-FEDERATED ACQUISI 900099 414123 414123 414123 273978610 271552287 0 2426323 X 330422 15499409 3088822 16550045 2405303 2478499 1427688 313923 80683 2061564 329196 1378262 2567765 965884 171754 24058 6364560 13074850 545838 COST OF POWER 190902739 ELECTRIC OPERATIONS 6265407 PROPERTY TAXES 5124875 FLEET/VEHICLE EXPENSE 361999 1665065 273978610 2340 1600 29981247 30627978 3952242 4765688 1544169 1357564 421447638 166714878 249715255 254732760 9402441 9706241 151516426 157061153 941 941 16539682 15089611 462654743 473343536 21899815 20862612 161524030 160856226 14366525 9847132 52202357 62044647 249992727 253610617 X 0 0 0 0 212662016 219732919 212662016 219732919 462654743 473343536 X 0 7070903 X 0 1 X 1 0 2179025 2179025 15517415 7848733 7668682 397642095 158866145 238775950 6109103 6109103 254732760 INVESTMENTS IN ASSOCIATED ORGANIZATIONS 157061153 C 157061153 DEFERRED CREDITS 6211068 PAYABLE TO GREAT RIVER ENERGY 26115592 OTHER LIABILITIES 5994391 DEFERRED COMP 2895070 MEMBER DEPOSITS 1837492 ENERGY STORAGE SERVICE AGREEMENT 18991034 62044647 X 267614050 -6364560 -6364560 273978610 0 273978610 252114641 0 252114641 21863969 21863969 273978610 PART X, LINE 2: THE COOPERATIVE EVALUATES ITS INCOME TAX POSITIONS ON AN ANNUAL BASIS. MANAGEMENT HAS DETERMINED THAT THERE ARE NO UNCERTAIN TAX POSITIONS AT DECEMBER 31, 2021 AND 2020 THAT MEET THE CRITERIA FOR RECOGNITION IN THE FINANCIAL STATEMENTS. THE COOPERATIVE WOULD RECOGNIZE FUTURE ACCRUED INTEREST AND PENALTIES RELATED TO UNRECOGNIZED TAX BENEFITS IN INCOME TAX EXPENSE IF INCURRED. PART XI, LINE 2D - OTHER ADJUSTMENTS: INTEREST EXPENSE -6,364,560. PART XII, LINE 4B - OTHER ADJUSTMENTS: ALLOCATION OF 2021 MARGINS TO MEMBERS IN 2022 15,499,409. INTEREST EXPENSE 6,364,560. 1 THE CONNEXUS ENERGY FOUNDATION 14601 RAMSEY BLVD NW RAMSEY MN 55303 843918068 501(C)(3) 330422 0 GENERAL DONATION 1 0 PART I, LINE 2: THE TOTAL AMOUNT OF CONTRIBUTIONS PLANNED FOR A YEAR IS APPROVED BY THE BOARD AS A PART OF OUR ANNUAL FINANCIAL PLANNING PROCESS. INDIVIDUAL CONTRIBUTIONS ARE APPROVED AND SUBSTANTIATED USING OUR NORMAL PAYMENT APPROVAL PROCESS. X X X X 0 1 0 GREG RIDDERBUSCH PRESIDENT/CEO 481618 0 234000 0 46709 0 29000 0 28266 0 819593 0 0 0 MICHAEL BASH STAFF EXECUTIVE UNTIL 01/2021 433067 0 52128 0 1564 0 25190 0 10274 0 522223 0 0 0 BRIAN BURANDT VP POWER SUPPLY/BUS. DEVEL. 236716 0 35537 0 1636 0 27901 0 31455 0 333245 0 0 0 DON HALLER VP MEMBER SERVICES 219546 0 35231 0 1539 0 37917 0 29848 0 324081 0 0 0 YAN PAUL MARTINEZ VP/CFO 262055 0 0 0 1566 0 12462 0 31970 0 308053 0 0 0 MARK KOPLIN VP TECHNOLOGY 214440 0 33586 0 1833 0 23090 0 29872 0 302821 0 0 0 NICK LOEHLEIN VP ELECTRIC OPERATIONS 207636 0 22086 0 2034 0 31536 0 31408 0 294700 0 0 0 NANCY BASARA CONTROLLER 188069 0 21072 0 1660 0 28105 0 27792 0 266698 0 0 0 LINDA MAEGI VP EMPLOYEE SERVICES - FROM 01/2021 179912 0 14757 0 1637 0 19407 0 32979 0 248692 0 0 0 JARED NEWTON MANAGER - ENGINEERING/SYS. OPERATION 161939 0 13782 0 887 0 18052 0 31107 0 225767 0 0 0 DEREK GROEBNER JOURNEY LINEMAN 171128 0 8962 0 3835 0 18370 0 12427 0 214722 0 0 0 JEFF HENDRICKSON MANAGER - FINANCE 151720 0 16617 0 1000 0 18844 0 25882 0 214063 0 0 0 PART I, LINE 4B MICHAEL BASH PARTICIPATED IN A KEYSOP PLAN IN 2021. COMPENSATION INCLUDES $332,624 RELATED TO THIS PLAN. THE DEFERRED COMPENSATION PLAN BALANCES ARE PAYABLE ON DEMAND, IN FULL, BUT THE BALANCES ARE SUBJECT TO RISK OF FORFEITURE UNTIL FULLY DISTRIBUTED. FORM 990, PART VI, SECTION A, LINE 2 DON HALLER, YAN PAUL MARTINEZ, NICHOLAS LOEHLEIN, AND GREG RIDDERBUSCH ARE ALL OFFICERS OF CONNEXUS ENERGY AND BOARD MEMBERS OF CONNEXUS BLOCKER, LLC. FRAN BATOR AND MARK ETHEN ARE BOTH DIRECTORS OF CONNEXUS ENERGY AND GREAT RIVER ENERGY. FORM 990, PART VI, SECTION A, LINE 4 DURING THE YEAR ENDED 12/31/2021, THE ORGANIZATION MADE CHANGES TO ITS BYLAWS. THE CHANGES ARE AS FOLLOWS: 1) COOPERATIVE QUORUM AND VOTING: MODIFICATIONS WERE MADE TO ADD A VIDEOCONFERENCE VOTE FOR ADDITIONAL FLEXIBILITY AND PARTICIPATION, LANGUAGE WAS ADDED TO COVER CURRENT AND FUTURE VOTING TABULATION METHODS, AND A CHANGE WAS MADE TO FURTHER CLARIFY THE TIME PERIOD IN WHICH THE COOPERATIVE RESPONDS TO A MEMBER'S REQUEST. 2) DIRECTOR QUALIFICATIONS: LANGUAGE WAS ADDED AND CHANGED TO PROVIDE A DEFINITION OF CAUSE, REMOVE POTENTIAL FAMILY STATUS DISCRIMINATION, AND GIVE ADDITIONAL CLARITY TO DIRECTOR ELIGIBILITY. 3) COOPERATIVE PROPERTY: LANGUAGE WAS ADDED TO CLARIFY THE PURCHASE OF POWER BY THE COOPERATIVE IS NOT CONSIDERED PROPERTY. 4) BOARD TEMPORARY EMERGENCY AUTHORITY: LANGUAGE WAS ADDED TO PROVIDE TEMPORARY EMERGENCY AUTHORITY TO THE BOARD OF DIRECTORS IN THE EVENT SOME ACTION IS NECESSARY TO BE USED ON RARE OCCASIONS. FORM 990, PART VI, SECTION A, LINE 6 CUSTOMERS WHO PURCHASE ELECTRICITY FROM THE ORGANIZATION ARE MEMBERS OF THE COOPERATIVE. THERE IS ONLY ONE MEMBER CLASS. FORM 990, PART VI, SECTION A, LINE 7A EACH MEMBER HAS ONE VOTE. FORM 990, PART VI, SECTION A, LINE 7B THE BOARD OF DIRECTORS MAY SELL THE PROPERTY OF THE COOPERATIVE UPON SUCH TERMS AND CONDITIONS AS IT DEEMS APPROPRIATE AND IN THE BEST INTEREST OF THE COOPERATIVE. NO SALE OF MORE THAN TWENTY-FIVE (25%) PERCENT OF THE PROPERTY OF THE COOPERATIVE SHALL BE EFFECTIVE, HOWEVER, UNLESS AUTHORIZED AT A REGULAR OR SPECIAL MEETING BY THE AFFIRMATIVE VOTE OF TWO-THIRDS (2/3) OF THE TOTAL NUMBER OF MEMBERS OF THE COOPERATIVE. FOR THE PURPOSES OF THIS ARTICLE, CONTRACTS TO PURCHASE POWER ARE NOT CONSIDERED PROPERTY. FORM 990, PART VI, SECTION A, LINE 8B NO COMMITTEES ARE AUTHORIZED TO ACT ON BEHALF OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B THE 990 INFORMATION RETURN IS DELIVERED TO BOARD MEMBERS A WEEK BEFORE THE BOARD MEETING. IT IS REVIEWED WITH THE ENTIRE BOARD OF DIRECTORS AND SENIOR STAFF AT THE BOARD MEETING, PRIOR TO ISSUANCE. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD OF DIRECTORS ARE COVERED BY THE CONFLICT OF INTEREST POLICY. ANNUALLY, BOARD MEMBERS SIGN A CERTIFICATION STATEMENT THAT THEY MEET THE QUALIFICATIONS OF A BOARD MEMBER. THIS CERTIFICATION INCLUDES CONFLICT OF INTEREST LANGUAGE. IF A BOARD MEMBER STATES ON THE CERTIFICATION THAT THERE IS A CONFLICT, THE ENTIRE BOARD WILL REVIEW THE CONFLICT AT THAT TIME. RESTRICTIONS IMPOSED ON A PERSON WITH A CONFLICT WOULD BE DEPENDENT UPON THE SPECIFIC SITUATION, AND MAY INCLUDE ABSTAINING FROM DISCUSSIONS AND VOTING AND/OR A REQUEST FOR RESIGNATION. ALL EMPLOYEES OF THE COOPERATIVE (INCLUDING OFFICERS) ARE GOVERNED BY A BUSINESS CONDUCT AND ETHICS POLICY WHICH INCLUDES CONFLICT OF INTEREST LANGUAGE. POSSIBLE VIOLATIONS ARE REPORTED TO MANAGEMENT FOR REVIEW. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION IS BASED ON MARKET DATA FOR SIMILAR POSITIONS AT COMPARABLE COMPANIES. A MARKET STUDY WAS COMPLETED FOR THE CEO IN 2021 AND FOR THE OTHER COOPERATIVE OFFICERS IN 2020. THE BOARD REVIEWS AND APPROVES THE COMPENSATION FOR THE CEO ANNUALLY. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS FOR THE PREVIOUS 5 YEARS ARE AVAILABLE ON OUR WEBSITE. ALL OTHER DOCUMENTS ARE MADE 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 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 XI, LINE 9: CAPITAL CREDITS RETIRED -8,428,506. ALLOCATION OF 2021 MARGINS TO MEMBERS IN 2022 15,499,409. THE CONNEXUS ENERGY FOUNDATION 14601 RAMSEY BLVD RAMSEY MN 55303 843918068 GRANT MAKING MN 501(C)(3) PF CONNEXUS ENERGY 1 CONNEXUS COMMUNITY SOLAR 1 LLC 14601 RAMSEY BLVD RAMSEY MN 55303 352505435 SOLAR ENERGY INVESTMENT MN N/A 0 1 CONNEXUS BLOCKER LLC 14601 RAMSEY BLVD RAMSEY MN 55303 465423665 HOLDING COMPANY FOR SOLAR ENERGY INVESTMENTS. MN CONNEXUS ENERGY C 320 41311 1.00000 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 1 0 0 0 0 THE CONNEXUS ENERGY FOUNDATION B 330422 CASH