2021-11-08T14:15:36-06:00 2020-12-31 450250958 EIDE BAILLY LLP 200 E 10TH ST STE 500 SIOUX FALLS SD 571046375 990 2020-01-01 410254835 MIENERGY COOPERATIVE TRIC 8004322285 31110 COOPERATIVE WAY RUSHFORD MN 55971 BRIAN KRAMBEER PRESIDENT/CEO 8004322285 2021-11-08 1 BRIAN KRAMBEER 999009999 LAURIE HANSON CPA P00851848 6053391999 2021-11-08 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z BRIAN KRAMBEER 31110 COOPERATIVE WAY RUSHFORD MN 55971 76150986 0 X WWW.TEC.COOP X 1936 MN TO DELIVER HIGH-QUALITY ENERGY SERVICES AT REASONABLE PRICES AND MAXIMIZE VALUE TO OUR MEMBERS. 12 12 83 0 49814 26818 0 0 78733862 75403628 580351 218514 488 14388 79314701 75636530 0 0 3754895 2841801 9406719 9626750 0 0 0 65604849 62630063 78766463 75098614 548238 537916 196621194 202972954 125024535 131092745 71596659 71880209 TO DELIVER HIGH-QUALITY ENERGY SERVICES AT REASONABLE PRICES AND MAXIMIZE VALUE TO OUR MEMBERS CONSISTENT WITH THE WISE USE OF RESOURCES. 0 0 PROVIDED ELECTRIC SERVICE TO APPROXIMATELY 18,892 MEMBERS AND MAINTAINED 5,544 MILES OF LINES PRIMARILY IN RURAL AREAS. 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 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 1 121 0 1 83 1 1 1 0 0 0 0 75188049 2398869 0 0 0 X 12 12 0 0 0 0 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 1 1 X BRIAN KRAMBEER 5078647783 31110 COOPERATIVE WAY RUSHFORD MN 55971 JENNIFER SCHARMER DIRECTOR 10.00 X 14275 0 0 DONALD PETERSEN TREASURER 7.00 X X 14770 0 0 BETH OLSON DIRECTOR 5.00 X 13075 0 0 DEAN NIERLING CHAIR 5.00 X X 14282 0 0 DEAN FISHER DIRECTOR 3.00 X 12632 0 0 JEFFREY REDALEN DIRECTOR 4.00 X 11475 0 0 RONALD STEVENS VICE CHAIR 6.00 X X 11950 0 0 CHARLES FRANA DIRECTOR 4.00 X 13195 0 0 DENNIS YOUNG DIRECTOR 4.00 X 12595 0 0 CARL REICKS DIRECTOR 4.00 X 11882 0 0 DENNIS PTACEK SECRETARY 4.00 X X 12525 0 0 SKIP WIESER DIRECTOR 3.00 X 12475 0 0 BRIAN KRAMBEER PRESIDENT/CEO 50.00 X 302077 0 80182 SHELLY HOVE CFO 50.00 X 150477 0 74246 KAYE BERNARD COO 50.00 X 157026 0 1604 TEDDY KJOS VP OF MARKETING & EXTERNAL 40.00 X 126330 0 94433 MICHAEL WALTON VP OF SYSTEM OPERATIONS 40.00 X 124167 0 78540 VASSIL VUTOV VP OF INFORMATION TECHNOLO 40.00 X 135983 0 60764 TYLER EIDE JOURNEYMAN FOREMAN 40.00 X 107241 0 26117 CHAD CHAFFEE VP OF SYSTEM OPERATIONS 40.00 X 116216 0 51511 1374648 0 467397 19 0 1 0 TJADER & HIGHSTROM UTILITY SERVICES 622 170TH STR HAMMOND WI 54015 LINE CONSTRUCTION 1055214 ASPLUNDH TREE EXPERT COMP 708 BLAIR MILL RD WILLOW GROVE PA 19090 TREE CLEARING 1046604 DAIRYLAND POWER COOPERATIVE 3200 EAST AVE S LA CROSSE WI 55485 LINE & SUBSTATION UPGRADES/MAINTENANCE 1000390 NEW AGE TREE SERVICE 410 3RD AVE SW SPRING GROVE MN 55974 TREE CLEARING 480624 ZIELIE'S TREE SERVICE 750 W ARTHUR AVE BRUCE WI 54819 TREE CLEARING 476668 16 OPERATING REVENUES 221000 73285718 73285718 CAPITAL CREDITS 221000 1896419 1896419 EQUITY EARNINGS 517000 221491 169288 52203 75403628 140604 140604 124736 46826 77910 77910 77910 476847 467630 9217 11606 -2389 OTHER NONOPERATING MARGINS 517000 5171 5171 5171 75636530 75368202 49814 218514 2841801 938501 6467400 1689969 530880 113027 3632146 6307449 157769 COST OF POWER 47057189 DISTRIBUTION - MAINTENA 4601763 DISTRIBUTION - OPERATIO 4317427 CUSTOMER SERVICE & INFO 1083774 -4640481 75098614 900849 4968997 9237037 7903467 835172 783800 4592082 5187310 2515569 1968184 200029741 57936976 139215808 142092765 44460 130417 32013677 32659357 7266540 7278657 196621194 202972954 9702431 8834033 24152 30820 108262108 115122582 600000 600000 6435844 6505310 125024535 131092745 X 71596659 71880209 71596659 71880209 196621194 202972954 X 537916 -254366 X 0 1 X 1 0 0 1 X 529931 529931 10427012 10175759 251253 187300429 47761217 139539212 1772369 1772369 142092765 DAIRYLAND POWER COOPERATIVE 27008803 C NATIONAL RURAL UTILITIES COOPERATIVE FINANCE CORPORATION 703153 C ACE COMMUNICATIONS GROUP 176506 C RURAL ELECTRIC SUPPLY COOPERATIVE 323103 C COOPERATIVE RESPONSE CENTER 26366 C NATIONAL RURAL TELECOMMUNICATIONS COOPERATIVE 225304 C NATIONAL INFORMATION SOLUTIONS COOPERATIVE 122956 C FEDERATED RURAL ELECTRIC INSURANCE EQUITY 347092 C HEARTLAND SECURITY SERVICES LLC 54064 C MINNOWA ALLIANCE LLC 207407 C MINNESOTA THREE, LLC (33% OWNERSHIP) 549393 C NATIONAL RURAL UTILITIES COOPERATIVE FINANCE CORPORATION-CERTIFICATES 1298851 C COBANK 280709 C MEMBERSHIPS AND OTHER 48017 C SOUTHERN MINNESOTA ENERGY COOPORATIVE 318421 C MSG, INC 845639 C MIBROADBAND, LLC 117573 C CHARGE EV, LLC (3.11% OWNERSHIP) 6000 C 32659357 DEFERRED CREDITS 6350171 CUSTOMER DEPOSITS 155139 6505310 X 75636530 0 75636530 0 75636530 72256813 0 72256813 2841801 2841801 75098614 PART IV, LINE 2B: OPERATION ROUND UP, A VOLUNTARY COMMUNITY SUPPORT PROGRAM HELPS LOCAL ORGANIZATIONS AND WORTHY CAUSES VIA SPARE CHANGE. MEMBERS CAN CHOOSE TO HAVE THEIR MONTHLY ELECTRIC BILLS ROUNDED UP TO THE NEAREST DOLLAR, WITH THE EXCEEDING CENTS GOING TOWARDS OPERATION ROUND UP. THE AVERAGE ANNUAL CONTRIBUTION FROM A COOPERATIVE MEMBER IS $6. THE MOST A MEMBER COULD CONTRIBUTE IS $11.88 (99 CENTS PER MONTH). THESE FUNDS ARE SEGREGATED IN THE COOPERATIVE FINANCIALS AND ARE REPORTED IN FORM 990 PART IX LINE 21 AS AN ESCROW ACCOUNT LIABILITY. THE RECARE PROGRAM PROVIDES MEMBERS WITH THE ABILITY TO DONATE MONEY THROUGH THE COOPERATIVE TO HELP NEEDY MEMBERS PAY THEIR ELECTRIC BILLS. THE ACCOUNT IS LISTED ON THE BALANCE SHEET AS AN ESCROW ACCOUNT LIABILITY. PART X, LINE 2: THE COOPERATIVE BELIEVES IT HAS APPROPRIATE SUPPORT FOR ANY TAX POSITIONS TAKEN AFFECTING ITS ANNUAL FILING REQUIREMENTS, AND AS SUCH, DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS THAT ARE MATERIAL TO THE CONSOLIDATED FINANCIAL STATEMENTS. THE COOPERATIVE WOUUD RECOGNIZE FUTURE ACCRUED INTEREST AND PENALTIES RELATED TO UNRECOGNIZED TAX BENEFITS IN INCOME TAX EXPENSE IF SUCH INTEREST AND PENALTIES ARE INCURRED. PART XII, LINE 4B - OTHER ADJUSTMENTS: ALLOCATION OF 2020 MARGINS TO MEMBERS IN 2021 2,841,801. X X 0 0 0 BRIAN KRAMBEER PRESIDENT/CEO 270998 0 31079 0 0 0 58479 0 23937 0 384493 0 0 0 SHELLY HOVE CFO 150477 0 0 0 0 0 54352 0 21397 0 226226 0 0 0 TEDDY KJOS VP OF MARKETING & EXTERNAL 126330 0 0 0 0 0 70745 0 25188 0 222263 0 0 0 MICHAEL WALTON VP OF SYSTEM OPERATIONS 124167 0 0 0 0 0 53894 0 26013 0 204074 0 0 0 VASSIL VUTOV VP OF INFORMATION TECHNOLO 135983 0 0 0 0 0 34713 0 27538 0 198234 0 0 0 CHAD CHAFFEE VP OF SYSTEM OPERATIONS 116216 0 0 0 0 0 45744 0 7134 0 169094 0 0 0 KAYE BERNARD COO 44633 0 60000 0 52393 0 1461 0 422 0 158909 0 0 0 FORM 990, PART VII, SECTION A, LINE 5 PER THE INSTRUCTIONS, INCLUDED IN COLUMN (C) IS THE CHANGE IN ACTUARIAL VALUE OF THE DEFINED BENEFIT PLAN FOR 2020. THE CHANGE IN ACTUARIAL VALUE OF THE DEFINED BENEFIT PLAN FOR BRIAN KRAMBEER IS $45,255. THE ACTUAL DEFINED BENEFIT PLAN EXPENSE IS $63,212. THE CHANGE IN ACTUARIAL VALUE OF THE DEFINED BENEFIT PLAN FOR SHELLY HOVE IS $46,511. THE ACTUAL DEFINED BENEFIT PLAN EXPENSE IS $33,799. THE CHANGE IN ACTUARIAL VALUE OF THE DEFINED BENEFIT PLAN FOR VASSIL VUTOV IS $27,861. THE ACTUAL DEFINED BENEFIT PLAN EXPENSE IS $32,511. THE CHANGE IN ACTUARIAL VALUE OF THE DEFINED BENEFIT PLAN FOR TEDDY KJOS IS $64,231. THE ACTUAL DEFINED BENEFIT PLAN EXPENSE IS $31,205. THE CHANGE IN ACTUARIAL VALUE OF THE DEFINED BENEFIT PLAN FOR CHAD CHAFFEE IS $39,568. THE ACTUAL DEFINED BENEFIT PLAN EXPENSE IS $30,144. THE CHANGE IN ACTUARIAL VALUE OF THE DEFINED BENEFIT PLAN FOR MICHAEL WALTON IS $47,682. THE ACTUAL DEFINED BENEFIT PLAN EXPENSE IS $29,507. THE CHANGE IN ACTUARIAL VALUE OF THE DEFINED BENEFIT PLAN FOR TYLER EIDE IS $20,909. THE ACTUAL DEFINED BENEFIT PLAN EXPENSE IS $20,622. THE CHANGE IN ACTUARIAL VALUE OF THE DEFINED BENEFIT PLAN FOR KAYE BERNARD IS $0. THE ACTUAL DEFINED BENEFIT PLAN EXPENSE IS $8,493. FORM 990, PART VI, SECTION A, LINE 6 CLASS A MEMBER-OWNERS FORM 990, PART VI, SECTION A, LINE 7A ONE VOTE PER MEMBERSHIP FORM 990, PART VI, SECTION A, LINE 7B THE CLASS A MEMBER-OWNERS APPROVE BY-LAW AMENDMENTS. FORM 990, PART VI, SECTION A, LINE 8B THE COOPERATIVE DOES NOT HAVE COMMITTEES THAT ACT ON BEHALF OF THE BOARD. FORM 990, PART VI, SECTION B, LINE 11B THE PRESIDENT/CEO AND MANAGER OF FINANCE/ADMINISTRATION REVIEW THE 990 IN DETAIL. AFTER THEIR REVIEW, THE 990 IS REVIEWED IN A BOARD MEETING WITH THE BOARD OF DIRECTORS BEFORE IT IS FILED. FORM 990, PART VI, SECTION B, LINE 12C MIENERGY COOPERATIVE EMPLOYEES AND DIRECTORS ARE COVERED BY THE CONFLICT OF INTEREST POLICY. EACH EMPLOYEE IS RESPONSIBLE FOR ENSURING THAT THE EMPLOYEE'S ACTIONS AND BEHAVIOR ARE IN ACCORDANCE WITH THIS POLICY AND OF DISCLOSING ANY POSSIBLE CONFLICT OF INTEREST. ANY WILLFUL VIOLATION WILL RESULT IN DISCIPLINARY ACTION, UP TO AND INCLUDING DISCHARGE AND REIMBURSEMENT TO MIENERGY OF ANY LOSS ATTRIBUTABLE TO SUCH ACTION. EACH SUPERVISOR AND THE PRESIDENT/CEO IS RESPONSIBLE FOR MAKING EVERY EFFORT TO SEE THAT THIS POLICY IS UNDERSTOOD BY AND FOLLOWED BY THOSE REPORTING TO THAT SUPERVISOR. THE PRESIDENT/CEO SHALL MAKE DECISIONS ON THE ULTIMATE APPLICATION OF THIS POLICY CONSISTENTLY WITH THE BEST INTERESTS OF MIENERGY. EACH DIRECTOR IS RESPONSIBLE FOR ENSURING THAT THE DIRECTORS' ACTIONS AND BEHAVIOR ARE IN ACCORDANCE WITH THIS POLICY AND OF DISCLOSING ANY POSSIBLE CONFLICT OF INTEREST. THE BOARD OF DIRECTORS SHALL BE RESPONSIBLE FOR PERIODIC REVIEW OF THIS POLICY AND MODIFICATIONS TO IT. AN EMPLOYEE MUST DISCLOSE IN WRITING TO HIS/HER SUPERVISOR ANY SITUATION OR TRANSACTION IN WHICH THE EMPLOYEE IS INVOLVED WHICH VIOLATES, MAY VIOLATE, OR COULD APPEAR TO VIOLATE THE INTENT OF THIS POLICY. THE SUPERVISOR, IN COORDINATION WITH MANAGEMENT, SHALL DETERMINE HOW THE SITUATION WILL BE RESOLVED AND ADVISE THE AFFECTED EMPLOYEE AS SOON AS POSSIBLE. A DIRECTOR MUST ANNUALLY COMPLETE A "BUSINESS ETHICS DISCLOSURE REPORT AND DISCLOSE IN WRITING TO THE BOARD CHAIR ANY SITUATION OR TRANSACTION IN WHICH THE DIRECTOR IS INVOLVED WHICH VIOLATES, MAY VIOLATE, OR COULD APPEAR TO VIOLATE THE INTENT OF THIS POLICY. THE BOARD CHAIR WILL ADVISE TO RESOLVE THE SITUATION AS SOON AS POSSIBLE. ANY EMPLOYEE, DIRECTOR, OR OFFICER WHO VIOLATES MIENERGY'S CODE OF ETHICS IS SUBJECT TO APPROPRIATE DISCIPLINARY ACTION, UP TO AND INCLUDING POSSIBLE DISCHARGE. DIRECTORS ARE ALSO SUBJECT TO REMOVAL AS STIPULATED IN SECTION 3.07 OF THE COOPERATIVE BYLAWS. THE BOARD OF DIRECTORS MONITORS COMPLIANCE OF THE CONFLICT OF INTEREST POLICY BY COMPLETING A YEARLY REVIEW OF THE POLICY. FORM 990, PART VI, SECTION B, LINE 15A THE BOARD USES THE NRECA WAGE AND SALARY SURVEY FOR NATIONAL, REGIONAL AND STATE COMPARISONS. THERE IS A WRITTEN EMPLOYMENT CONTRACT AND BRIAN'S COMPENSATION IS APPROVED BY THE BOARD OF DIRECTORS. THIS PROCESS IS COMPLETED EVERY YEAR. FORM 990, PART VI, SECTION C, LINE 19 UPON REQUEST. FORM 990, PART XI, LINE 9: RETIREMENT OF CAPITAL CREDITS -3,096,167. 2020 MARGINS ALLOCATED TO MEMBERS IN 2021 2,841,801. 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 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 FOR THE GENERAL MANAGER/CEO. 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 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. MINNESOTA THREE LLC 1775 LAKE SHADY AVE SOUTH ORONOCO MN 55960 462958241 ELECTRIC AND OTHER SERVICES MN MIENERGY COOPERATIVE UNRELATED -1689 332504 0 1 0.33000 TEC COMMUNITY SOLAR I LLC 31110 COOPERATIVE WAY RUSHFORD MN 55971 371751538 SOLAR ENERGY MN N/A 0 0 HAWKEYE COMMUNITY SOLAR I LLC PO BOX 90 CRESCO IA 52136 383926776 COMMUNITY SOLAR PROJECT IA N/A 0 0 MIBROADBAND LLC PO BOX 308 HARMONY MN 55939 832786372 PROVIDE BROADBAND SERVICE MN MIENERGY COOPERATIVE RELATED 35194 88109 0 1 0.50000 TEC COMMUNITY SOLAR HOLDINGS 31110 COOPERATIVE WAY PO BOX 626 RUSHFORD MN 55971 464998426 SOLAR POWER INVESTMENT MN MIENERGY COOPERATIVE C 69 3827 1.00000 1 HTC DEVELOPMENT CORPORATION PO BOX 90 CRESCO IA 52136 680504643 HOUSING DEVELOPMENT IA MIENERGY COOPERATIVE C 88479 908103 1.00000 1 HREC COMMUNITY SOLAR HOLDINGS LLC PO BOX 90 CRESCO IA 52136 465101728 COMMUNITY SOLAR PROJECT IA MIENERGY COOPERATIVE C 48 3505 1.00000 1 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0