2021-11-15T14:02:17-06:00 2020-12-31 410746749 CLIFTONLARSONALLEN LLP 2689 COMMERCE DRIVE NW SUITE 201 ROCHESTER MN 55901 990 2020-01-01 390783977 CENTRAL WISCONSIN ELECTRIC COOPERATIVE CENT 7156772211 PO BOX 100 ROSHOLT WI 54473 MICHAEL WADE PRESIDENT/CEO 7156772211 2021-11-11 1 MICHAEL WADE 999009999 KATHERINE LUTZKE CPA P01760889 5072802300 2021-11-11 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z MICHAEL WADE PO BOX 100 ROSHOLT WI 54473 16875172 0 X HTTP://WWW.CWECOOP.COM/ X 1938 WI TO PROVIDE RELIABLE ELECTRIC ENERGY AND RELATED SERVICES TO MEMBERS UNDER COOPERATIVE PRINCIPLES. 7 7 27 0 -61621 0 0 0 16631353 15938301 219365 219271 218006 221791 17068724 16379363 0 0 703293 577093 342125 351279 0 0 0 16043507 15455663 17088925 16384035 -20201 -4672 60260954 60189716 40383277 39929893 19877677 20259823 WE ARE YOUR TRUSTED ENERGY PARTNER AND PROVIDER OF VALUED COMMUNITY SUPPORT. 0 0 THE COOPERATIVE SOLD 100,147,548 KWH OF ELECTRICITY TO MEMBERS DURING 2020. 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 14 0 27 1 1 1 0 0 0 0 16359050 655169 0 0 0 X 7 7 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 ANTHONY BUSS JR CHAIRMAN 9.08 0.00 X X 7650 0 0 RONALD ONESTI DIRECTOR - PART YEAR 4.78 0.00 X 4950 0 0 LEONARD OPPOR DIRECTOR 7.31 0.00 X 7550 0 0 TOM SMITH VICE CHAIRMAN 9.42 0.00 X X 7550 0 0 ELAINE ECKENDORF SECRETARY/TREASURER 5.44 0.00 X X 7200 0 0 SUE ROMBALSKI DIRECTOR 8.01 0.00 X 6750 0 0 LEE LEHRER DIRECTOR 4.85 0.00 X 6950 0 0 MICHAEL SCHULTZ DIRECTOR - PART YEAR 1.38 0.00 X 2600 0 0 MICHAEL L WADE PRESIDENT/CEO 50.00 0.00 X 165706 0 136974 JOHNATHAN BESTUL LINEMAN/JOURNEYMAN 50.00 0.00 X 104919 0 53796 JASON L WALTER LINEMAN/JOURNEYMAN 50.00 0.00 X 101484 0 48967 MACKENZIE C YARBROUGH LINEMAN/JOURNEYMAN 50.00 0.00 X 108249 0 47759 CHRIS TUSZKE LINEMAN/JOURNEYMAN 50.00 0.00 X 100682 0 80192 KEVIN KURZWEIL VP OF OPERATIONS 50.00 0.00 X 111901 0 88463 744141 0 456151 7 0 1 0 AJ CONSTRUCTION 3532 PLAYBIRD ROAD SHEBOYGAN WI 53083 CABLE TRENCHING 700957 ZIELIE'S TREE SERVICE PO BOX 307 BRUCE WI 54819 BRUSH & SPRAYING 593988 2 SALE OF POWER 221000 15938301 15938301 15938301 173393 173393 11933 61927 -49994 -49994 -61927 11933 467800 421922 45878 45878 45878 12537 11960 577 577 CAPITAL CREDITS 523000 160188 160188 ATC - REVENUE 900099 111291 111291 DBS K-1 INCOME 900099 -271 -271 271208 16379363 16209780 -61621 231204 X 577093 351279 1822815 1929134 COST OF POWER 7225342 MAINTENANCE EXPENSE 1601773 OPERATIONS EXPENSE 962457 ADMINISTRATIVE & GENERA 707687 1206455 16384035 993818 672835 2150505 2042992 1169718 1075910 324693 311211 5151535 406995 67985095 20489288 42334211 47495807 913753 834285 7214558 7349681 8163 0 60260954 60189716 824203 1371565 7520000 0 31118496 37652263 920578 906065 40383277 39929893 X 0 0 1981501 2312793 17896176 17947030 19877677 20259823 60260954 60189716 X -4672 386818 X X 0 1 X 1 0 224098 224098 4975944 992199 3983745 62785053 19497089 43287964 47495807 INVESTMENTS IN NRUCFC NOTES 2608081 C INVESTMENT IN ATC, LLC 2993403 C OTHER ASSOCIATED ORGANIZATIONS 1748197 C 7349681 CUSTOMER DEPOSITS 52015 OTHER LIABILITIES 203729 ACCRUED INTEREST 259159 ACCRUED PAYROLL 275970 ACCRUED GROSS REVENUE TAX 115192 906065 X PART X, LINE 2: THE COOPERATIVE IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(12) OF THE INTERNAL REVENUE CODE (IRC). CWEC SERVICES, LLC IS A TAXABLE CORPORATION, AND HAD A NET INCOME OF $4,855 FOR THE YEAR ENDED DECEMBER 31, 2020. THERE IS NO PROVISION FOR INCOME TAXES AT DECEMBER 31, 2020 AND 2019. THE COOPERATIVE AND ITS SUBSIDIARY EVALUATED THEIR TAX POSITIONS AND DETERMINED THAT THERE ARE NO UNCERTAIN TAX POSITIONS AS OF DECEMBER 31, 2020 AND 2019. X 0 0 0 MICHAEL L WADE PRESIDENT/CEO 165706 0 0 0 0 0 104754 0 32220 0 302680 0 0 0 KEVIN KURZWEIL VP OF OPERATIONS 111901 0 0 0 0 0 69409 0 19054 0 200364 0 0 0 CHRIS TUSZKE LINEMAN/JOURNEYMAN 100682 0 0 0 0 0 52458 0 27734 0 180874 0 0 0 JOHNATHAN BESTUL LINEMAN/JOURNEYMAN 104919 0 0 0 0 0 26204 0 27592 0 158715 0 0 0 MACKENZIE C YARBROUGH LINEMAN/JOURNEYMAN 108249 0 0 0 0 0 25406 0 22353 0 156008 0 0 0 JASON L WALTER LINEMAN/JOURNEYMAN 101484 0 0 0 0 0 32392 0 16575 0 150451 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 SEVEN 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 2020. 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 24E CONSUMER ACCOUNTS 559,192. TAXES 294,659. CUSTOMER SERVICE AND INFORMATIONAL 233,749. SALES EXPENSE 65,755. OTHER EXPENSE 49,538. ECONOMIC DEVELOPMENT EXPENSE 3,562. 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 -394,075. ATC K-1 NET INCOME ADJUSTMENT 162,497. DBS K-1 NET INCOME ADJUSTMENT 41,303. PATRONAGE DIVIDENDS ALLOCATED 577,093. 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 4855 204557 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