2022-11-02T13:01:05-05:00 2021-12-31 410746749 CLIFTONLARSONALLEN LLP 2689 COMMERCE DRIVE NW SUITE 201 ROCHESTER MN 55901 990 2021-01-01 390783977 CENTRAL WISCONSIN ELECTRIC COOPERATIVE CENT 7156772211 PO BOX 100 ROSHOLT WI 54473 MICHAEL WADE PRESIDENT/CEO 7156772211 2022-10-24 1 MICHAEL WADE 999009999 KATHERINE LUTZKE CPA P01760889 5072802300 2022-10-24 3 AAL1 IAL1 2021 2022-09-23 18:48:47Z MICHAEL WADE PO BOX 100 ROSHOLT WI 54473 16199688 0 X HTTP://WWW.CWECOOP.COM/ X 1938 WI TO PROVIDE RELIABLE ELECTRIC ENERGY AND RELATED SERVICES TO MEMBERS UNDER COOPERATIVE PRINCIPLES. 6 6 26 0 -177 0 0 0 15938301 15744273 219271 170563 221791 280659 16379363 16195495 0 0 577093 714819 351279 388885 0 0 0 15455663 15198740 16384035 16302444 -4672 -106949 60189716 60789666 39929893 40130155 20259823 20659511 WE ARE YOUR TRUSTED ENERGY PARTNER AND PROVIDER OF VALUED COMMUNITY SUPPORT. 0 0 THE COOPERATIVE SOLD 101,082,441 KWH OF ELECTRICITY TO MEMBERS DURING 2021. IN CONNECTION WITH THE COOPERATIVE'S MISSION THE COOPERATIVE CONTINUES TO PROVIDE RELIABLE, AFFORDABLE ENERGY, AND OTHER SERVICES OF MERIT IN A SAFE AND ENVIRONMENTALLY RESPONSIBLE MANNER TO RESPOND TO THE GROWING NEEDS OF OUR COMMUNITIES AND THOSE WE SERVE. 0 0 0 0 0 0 0 0 0 1 0 1 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 1 20 0 26 1 1 1 0 0 0 0 16326349 621078 0 0 0 X 6 6 0 0 0 0 1 1 0 1 0 0 0 1 1 1 1 1 1 1 1 0 X LILA SHOWER 7156772211 10401 LYSTUL ROAD ROSHOLT WI 54473 TOM SMITH CHAIRMAN 8.31 0.00 X X 10000 0 0 MICHAEL SCHULTZ VICE CHAIRMAN 4.16 0.00 X X 8500 0 0 LEE LEHRER SECRETARY/TREASURER 4.34 0.00 X X 9750 0 0 LOUIS OPPOR DIRECTOR 4.77 0.00 X 6700 0 0 SUE ROMBALSKI DIRECTOR 7.41 0.00 X 10000 0 0 RONALD ONESTI DIRECTOR 3.36 0.00 X 5400 0 0 ANTHONY BUSS JR DIRECTOR - PART YEAR 3.67 0.00 X 3800 0 0 LEONARD OPPOR DIRECTOR-PART YEAR 0.38 0.00 X 1600 0 0 ELAINE ECKENDORF DIRECTOR - PART YEAR 1.69 0.00 X 3700 0 0 MICHAEL L WADE PRESIDENT/CEO 50.00 0.00 X 171470 0 157965 JOHNATHAN BESTUL SERVICE FOREMAN 47.00 0.00 X 120601 0 56457 LILA SHOWER VP OF ACCOUNTING & FINANCE 50.00 0.00 X 106360 0 96403 KEVIN KURZWEIL VP OF OPERATIONS & ENGINEERING 50.00 0.00 X 116923 0 99714 CHRIS TUSZKE LINEMAN 47.00 0.00 X 113764 0 86753 MACKENZIE C YARBROUGH CREW FOREMAN 44.00 0.00 X 105504 0 55458 794072 0 552750 6 0 1 0 AJ CONSTRUCTION 3532 PLAYBIRD ROAD SHEBOYGAN WI 53083 CABLE TRENCHING 517877 ZIELIE'S TREE SERVICE PO BOX 307 BRUCE WI 54819 BRUSH & SPRAYING 341186 PUSH INC 1100 LINDY ST RICE LAKE WI 54868 CONSTRUCTION 121089 POWER SYSTEM ENGINEERING INC 2424 RIMROCK ROAD SUITE 300 MADISON WI 53713 CONSULTING 116282 TJADER & HIGHSTROM UTILITY SERVICES LLC 541 INDUSTRIAL BOULEVARD NEW RICHMOND WI 54017 CONSTRUCTION 110122 5 SALE OF POWER 221000 15744273 15744273 15744273 170563 170563 12673 0 12673 12673 12673 4029 4193 -164 -164 CAPITAL CREDITS 523000 188479 188479 ATC - REVENUE 900099 79684 79684 DBS K-1 INCOME 900099 -13 -13 268150 16195495 16012436 -177 183236 X 714819 388885 1382712 1977564 COST OF POWER 7061094 MAINTENANCE EXPENSE 1646566 OPERATIONS EXPENSE 997449 ADMINISTRATIVE & GENERA 742260 1391095 16302444 672835 525655 2042992 2024323 1075910 1129657 311211 583694 406995 387671 70133802 22294268 47495807 47839534 834285 815318 7349681 7483814 60189716 60789666 1371565 1058385 611974 37652263 37398418 906065 1061378 39929893 40130155 X 0 0 2312793 2417031 17947030 18242480 20259823 20659511 60189716 60789666 X -106949 506637 X X 0 1 X 1 0 224098 224098 4982070 1094493 3887577 64927634 21199775 43727859 47839534 INVESTMENTS IN NRUCFC NOTES 2607592 C INVESTMENT IN ATC, LLC 3066542 C OTHER ASSOCIATED ORGANIZATIONS 1809680 C 7483814 CUSTOMER DEPOSITS 63466 OTHER LIABILITIES 254769 ACCRUED INTEREST 289066 ACCRUED PAYROLL 296063 ACCRUED GROSS REVENUE TAX 158014 1061378 X PART X, LINE 2: THE COOPERATIVE IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(12) OF THE INTERNAL REVENUE CODE (IRC). THERE IS NO PROVISION FOR INCOME TAXES AT DECEMBER 31, 2021 AND 2020. THE COOPERATIVE AND ITS SUBSIDIARY EVALUATED THEIR TAX POSITIONS AND DETERMINED THAT THERE ARE NO UNCERTAIN TAX POSITIONS AS OF DECEMBER 31, 2021 AND 2020. X 0 0 0 MICHAEL L WADE PRESIDENT/CEO 171470 0 0 0 0 0 124200 0 33765 0 329435 0 0 0 KEVIN KURZWEIL VP OF OPERATIONS & ENGINEERING 116923 0 0 0 0 0 79090 0 20624 0 216637 0 0 0 LILA SHOWER VP OF ACCOUNTING & FINANCE 106360 0 0 0 0 0 69384 0 27019 0 202763 0 0 0 CHRIS TUSZKE LINEMAN 113764 0 0 0 0 0 57750 0 29003 0 200517 0 0 0 JOHNATHAN BESTUL SERVICE FOREMAN 120601 0 0 0 0 0 27600 0 28857 0 177058 0 0 0 MACKENZIE C YARBROUGH CREW FOREMAN 105504 0 0 0 0 0 26195 0 29263 0 160962 0 0 0 PART I, LINE 3 THE CEO'S COMPENSATION IS DETERMINED BY THE BOARD OF DIRECTORS. COMPENSATION IS COMPARED TO WAGE STUDIES PERFORMED BY THE NRECA (NATIONAL RURAL ELECTRIC COOPERATIVE ASSOCIATION). WAGES ARE COMPARED TO THE STATE AVERAGE OF THE INDUSTRY. FORM 990, PART VI, SECTION A, LINE 6 ORGANIZATION IS A MEMBER COOPERATIVE. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERSHIP VOTES ON THE BOARD OF DIRECTORS. THERE ARE SIX DIRECTORS AND THEY REPRESENT THE MEMBERSHIP. FORM 990, PART VI, SECTION A, LINE 8B THE ORGANIZATION DOES NOT HAVE ANY COMMITTEES THAT HAVE AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B THE 990 IS REVIEWED BY THE CEO AND THE VICE PRESIDENT OF FINANCE. THE VICE PRESIDENT OF FINANCE PRESENTS THE 990 FORM TO THE BOARD OF DIRECTORS FOR THEIR REVIEW. FORM 990, PART VI, SECTION B, LINE 12C OFFICERS, DIRECTORS, AND KEY EMPLOYEES ARE TO VERBALLY INFORM THE CEO AND/OR THE CHAIRPERSON OF THE BOARD IF HE OR SHE HAS A POTENTIAL CONFLICT OF INTEREST. ANY PERSON WITH A CONFLICT WOULD BE PROHIBITED FROM PARTICIPATING IN THE DELIBERATIONS AND DECISIONS IN THE TRANSACTIONS. CONFLICTS ARE DOCUMENTED IN THE BOARD MINUTES. FORM 990, PART VI, SECTION B, LINE 15 THE CEO'S COMPENSATION IS DETERMINED & APPROVED BY THE BOARD OF DIRECTORS. COMPENSATION IS COMPARED TO WAGE STUDIES PERFORMED BY THE NRECA (NATIONAL RURAL ELECTRIC COOPERATIVE ASSOCIATION). WAGES ARE COMPARED TO THE STATE AVERAGE OF THE INDUSTRY. THIS PROCESS IS DOCUMENTED IN THE BOARD MINUTES. KEY EMPLOYEE COMPENSATION IS DETERMINED AND APPROVED BY THE CEO THROUGH COMPARISONS TO WAGE STUDIES PERFORMED BY THE NRECA (NATIONAL RURAL ELECTRIC COOPERATIVE ASSOCIATION). THE CEO REFERENCES A WAGE STUDY SPECIFIC TO THE ELECTRIC COOPERATIVES IN THE STATE OF WISCONSIN. THIS PROCESS IS DOCUMENTED IN THE EMPLOYEE'S PERSONNEL FILE. THESE PROCESSES ARE COMPLETED ANNUALLY, LAST OCCURING IN 2021. FORM 990, PART VI, SECTION C, LINE 19 THE COOPERATIVE MAKES ITS MINUTES, BYLAWS, AND GOVERNANCE INFORMATION AVAILABLE TO THE PUBLIC BY MAKING THIS INFORMATION AVAILABLE UPON REQUEST. THE FINANCIAL STATEMENTS ARE PUBLISHED ANNUALLY AND DISTRIBUTED AT AN ANNUAL MEETING FOR MEMBERS. FORM 990, PART IX, LINE 4: THE IRS INSTRUCTIONS STATE THAT PATRONAGE DIVIDENDS PAID BY SECTION 501(C)(12) ORGANIZATIONS TO THEIR MEMBERS SHOULD BE REPORTED ON LINE 4. THE ORGANIZATION HAS INTERPRETED PATRONAGE DIVIDENDS PAID TO MEAN PATRONAGE DIVDENDS ALLOCATED OR TO BE ALLOCATED FOR THE CURRENT YEAR. SINCE THIS ALLOCATION IS NOT AN EXPENSE UNDER GENERALLY ACCEPTED ACCOUNTING PRINCIPLES (GAAP), THIS HAS RESULTED IN A RECONCILING ITEM TO NET ASSETS IN PART XI ON PAGE 12 OF THE FORM 990 AND IN PARTS XI AND XIII ON SCHEDULE D. FORM 990, PART XI, LINE 9: NET CHANGE IN EQUITIES FOR RETIREMENTS -432,884. ATC K-1 NET INCOME ADJUSTMENT 183,657. DBS K-1 NET INCOME ADJUSTMENT 41,045. PATRONAGE DIVIDENDS ALLOCATED 714,819. FORM 990, PART XII, LINE 2C: THERE HAVE BEEN NO CHANGES TO THE OVERSIGHT PROCESS. CWEC SERVICES LLC 10401 LYSTUL ROAD ROSHOLT WI 54473 760760302 GASOLINE WI 13706 192062 CENTRAL WISCONSIN ELECTRIC COOPERATIVE 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 NO TRANSACTIONS GREATER THAN 50000