2025-09-25T11:50:32-05:00 2024-12-31 450250958 EIDE BAILLY LLP 345 N REID PL STE 400 SIOUX FALLS SD 571037034 990 2024-01-01 410621437 WRIGHT-HENNEPIN COOPERATIVE ELECTRIC ASSOCIATION WRIG 7634773000 PO BOX 330 ROCKFORD MN 553730330 SUSAN SORENSEN CFO 7634773000 2025-09-24 1 1 LAURIE HANSON CPA P00851848 6053391999 2025-09-24 2024 2025-03-06 01:10:19Z TIMOTHY SULLIVAN PO BOX 330 ROCKFORD MN 553730330 125206567 0 X WWW.WHE.ORG X 1937 MN WHCEA IS A MEMBER-OWNED, NOT-FOR-PROFIT ELECTRIC COOPERATIVE. ELECTRIC UTILITY THAT PROVIDES POWER TO RURAL WRIGHT COUNTY AND WESTERN HENNEPIN COUNTY. 9 9 136 0 0 0 0 0 120246142 121040171 185602 184288 4621251 3975498 125052995 125199957 12200 12593 7132773 9984040 2495706 2667675 0 0 0 112200519 111593559 121841198 124257867 3211797 942090 262748920 284291714 159881773 175184003 102867147 109107711 WE DELIVER THE POWER, PRODUCTS AND COMPETITIVE PRICING ESSENTIAL FOR IMPROVING THE QUALITY OF LIFE OF THE MEMBERS AND COMMUNITIES WE SERVE. 0 0 DELIVER THE POWER, PRODUCTS AND COMPETITIVE PRICING ESSENTIAL FOR IMPROVING THE QUALITY OF LIFE OF THE MEMBERS AND COMMUNITIES WE SERVE. THIS IS DONE BY EXECUTING A COMPREHENSIVE STRATEGY PLAN, WHICH INCLUDES PURCHASING POWER FROM SEVERAL PROVIDERS, THE LARGEST COST TO THE COOPERATIVE.THE COOPERATIVE SERVED 49,396 MEMBERS ACROSS 4,379 MILES OF LINE AS OF DECEMBER 31, 2024. 0 0 0 0 0 0 0 1 0 1 1 1 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 1 27 0 1 136 1 0 0 0 0 0 0 0 122436229 4336245 0 0 0 X 9 9 0 1 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 1 0 X WRIGHT-HENNEPIN COOP ELECTRIC ASSOC 7634773000 6800 ELECTRIC DR ROCKFORD MN 55373 X ERICK HEINZ CHAIR 9.00 1.80 X X 26765 16560 0 TIMOTHY YOUNG VICE CHAIR/DIRECTOR (BEG APR) 4.40 1.70 X X 20000 15925 0 JOHN REYNOLDS DIRECTOR/VICE CHAIR (BEG APR) 5.25 1.75 X X 19411 16864 0 MICHAEL TIEVA SECRETARY-TREASURER 9.70 2.10 X X 26265 17460 0 PAT BAKEBERG DIRECTOR 6.00 2.00 X 20495 15580 0 AUDREY BRITTON DIRECTOR 7.40 1.40 X 25501 18124 0 CHRIS LANTTO DIRECTOR 8.30 1.60 X 23977 17348 0 DUANE LINDENFELSER DIRECTOR 10.00 9.00 X 21487 17188 0 MARK SKINNER DIRECTOR 6.00 1.80 X 23711 17164 0 TIMOTHY SULLIVAN PRESIDENT & CEO 42.50 2.50 X 521284 30663 103341 SUSAN SORENSEN CFO (BEG MAR) 27.00 18.00 X 123671 82448 37627 ROB DEWOLFE CFO (END MAR) 13.00 10.00 X 0 0 0 ROBERT SANDBERG VP OF POWER SUPPLY 45.00 0.00 X 295750 0 290911 CURTIS CORDT ENGINEERING DIRECTOR 45.00 0.00 X 217318 0 67963 LEE NORDBY OPERATIONS DIRECTOR 45.00 0.00 X 243078 0 44204 JENNIFER SEVERSON VP OF HUMAN RESOURCES 30.00 15.00 X 153384 76692 75789 MARTHA WEST VP OF COMMUNICATIONS 39.00 6.00 X 160644 24714 61921 SCOTT GEAREY LINE CREW FOREMAN 54.64 0.00 X 204831 0 59809 JOHN STUEVEN RELIEF LINE CREW FOREMAN 53.40 0.00 X 197844 0 37033 DANIEL MORRIS RELIEF LINE CREW FOREMAN 54.05 0.00 X 196219 0 56675 KEITH BURANDT LINE CREW FOREMAN 52.16 0.00 X 189330 0 60248 NICK MATTSON RELIEF LINE CREW FOREMAN 52.88 0.00 X 185021 0 51815 BRIAN SWANSON FORMER CFO 0.00 0.00 X 106878 0 0 3002864 366730 947336 48 1 1 0 MP NEXLEVEL LLC 500 COUNTY ROAD 37 E MAPLE LAKE MN 55358 LINE CONSTRUCTION 2552498 ASPLUNDH TREE EXPERT CO PO BOX 532729 ATLANTA GA 303532729 TREE TRIMMING 1190841 BEAR TREE CARE INC 5625 20TH ST NE BUFFALO MN 55313 TREE TRIMMING 796455 ZIELIE'S TREE SERVICE INC 28190 STATE HWY 137 ASHLAND WI 54806 TREE TRIMMING 712885 M&J CONTRACTING & SUPPLY LLC PO BOX 204 MONTROSE MN 55363 POLE CONTRACTOR 623428 16 SALE OF ELECTRICITY 221000 121040171 121040171 121040171 75081 75081 42000 6610 35390 35390 35390 109207 0 109207 109207 109207 CAPITAL CREDITS 900099 3352597 3352597 INCOME FROM SUBSIDIARY 900099 576730 576730 MISCELLANEOUS INCOME/EXPENSE 900099 10781 10781 3940108 125199957 124980279 0 219678 X 6593 6000 9984040 2560797 106878 5352904 7771717 COST OF POWER 76370849 DISTRIBUTION - OPERATIO 7266608 DISTRIBUTION - MAINTENA 5697627 ADMINISTRATIVE AND GENE 3926834 5207020 124257867 1625412 1122146 7558151 7952767 2962 2339 5065543 5369456 472981 763820 264541534 89074842 159417364 175466692 23781217 26483539 58581135 60267128 6244155 6863827 262748920 284291714 21699017 23147214 6148409 7273409 21480 43772 91493579 122974699 32650000 13200000 7869288 8544909 159881773 175184003 X 0 0 0 0 102867147 109107711 102867147 109107711 262748920 284291714 X 942090 5298474 X X 0 1 X 1 0 0 1 X 3639668 3639668 10833631 6752967 4080664 240444914 82321875 158123039 9623321 9623321 175466692 DEFERRED COMP INVESTMENTS 1188265 C INVESTMENT IN SUBSIDIARY 18021865 C SPECIAL FUNDS 7273409 C 26483539 PATRONAGE CAPITAL FROM ASSOCIATED ORGANIZATIONS 59139489 C CFC CAPITAL TERM CERTIFICATES 1088640 C STOCKS IN ASSOCIATED COMPANIES 38999 C 60267128 CUSTOMER DEPOSITS 1892782 DEFERRED COMPENSATION 1081772 DEFERRED CREDITS 5544046 LEASE LIABILITY 26309 8544909 X 124769847 -430110 -430110 125199957 0 125199957 113843717 0 113843717 10414150 10414150 124257867 PART IV, LINE 2B: MEMBERS OF WRIGHT-HENNEPIN CAN ROUND UP THEIR MONTHLY ELECTRIC BILL TO THE NEXT DOLLAR. FUNDS COLLECTED FROM THE MEMBERSHIP ARE HELD IN AN ACCOUNT UNTIL THEY ARE RELEASED TO THE WRIGHT-HENNEPIN ELECTRIC TRUST FOR DISTRIBUTION TO LOCAL CHARITIES. OPERATION ROUND UP (ORU) FUNDS DISTRIBUTION IS DETERMINED BY THE ORU BOARD OF DIRECTORS. ALL DECISIONS ARE BASED ON NEED. PRIORITY IS GIVEN TO WH MEMBERS. REQUESTS MUST BENEFIT AREA RESIDENTS AND LOCAL COMMUNITIES. FUNDS ARE TRANSFERRED TO THE TRUST MONTHLY. FUNDS THAT EXIST AT YEAR-END ARE A RESULT OF A TIMING DIFFERENCE IN THE RECEIPT OF THE FUNDS AND THEIR RELEASE TO THE TRUST. FOR THE YEAR ENDED DECEMBER 31, 2024, THE ACCOUNT HELD $43,772. 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 FINANCIAL STATEMENTS. THE COOPERATIVE WOULD RECOGNIZE FUTURE ACCRUED INTEREST AND PENALTIES RELATED TO THE UNRECOGNIZED TAX BENEFITS IN INCOME TAX EXPENSE IF SUCH INTEREST AND PENALTIES ARE INCURRED. PART XI, LINE 2D - OTHER ADJUSTMENTS: RECLASSIFY CONSERVATION IMPROVEMENT PROGRAM REBATES -430,110. PART XII, LINE 4B - OTHER ADJUSTMENTS: RECLASSIFY CONSERVATION IMPROVEMENT PROGRAM REBATES 430,110. ALLOCATION OF 2024 MARGINS TO MEMBERS IN 2025 9,984,040. 1 LINEMAN SCHOLARSHIP 3 6000 X X X X 1 1 0 TIMOTHY SULLIVAN PRESIDENT & CEO 373139 21949 140866 8286 7279 428 65860 3874 33648 1979 620792 36516 37534 2208 ROBERT SANDBERG VP OF POWER SUPPLY 231991 0 61893 0 1866 0 58255 0 234645 0 588650 0 19976 0 JENNIFER SEVERSON VP OF HUMAN RESOURCES 129137 64568 23969 11985 278 139 28320 14160 23378 11689 205082 102541 0 0 LEE NORDBY OPERATIONS DIRECTOR 206949 0 35054 0 1075 0 44012 0 1890 0 288980 0 0 0 CURTIS CORDT ENGINEERING DIRECTOR 181641 0 35677 0 0 0 42252 0 27322 0 286892 0 0 0 SCOTT GEAREY LINE CREW FOREMAN 195796 0 1526 0 7509 0 26810 0 35504 0 267145 0 0 0 DANIEL MORRIS RELIEF LINE CREW FOREMAN 186598 0 1526 0 8095 0 25355 0 33676 0 255250 0 0 0 KEITH BURANDT LINE CREW FOREMAN 182168 0 1533 0 5629 0 27640 0 35112 0 252082 0 0 0 MARTHA WEST VP OF COMMUNICATIONS 146078 22473 13434 2067 1132 174 25755 3962 29234 4498 215633 33174 0 0 SUSAN SORENSEN CFO (BEG MAR) 120958 80639 2104 1403 609 406 8100 5400 15386 10257 147157 98105 0 0 NICK MATTSON RELIEF LINE CREW FOREMAN 176869 0 1533 0 6619 0 21100 0 33153 0 239274 0 0 0 JOHN STUEVEN RELIEF LINE CREW FOREMAN 189868 0 1526 0 6450 0 25113 0 14358 0 237315 0 0 0 BRIAN SWANSON FORMER CFO 106878 0 0 0 0 0 0 0 0 0 106878 0 0 0 PART I, LINES 4A-B THE COOPERATIVE SPONSORS TWO UNFUNDED NONQUALIFIED DEFERRED COMPENSATION PLANS. UNDER THE FIRST PLAN, ONLY EMPLOYEES WHO MEET CERTAIN ELIGIBILITY REQUIREMENTS ARE ALLOWED TO PARTICIPATE. UNDER THIS PLAN, AN ANNUAL DISCRETIONARY CONTRIBUTION IS APPROVED BY THE BOARD OF DIRECTORS WITH INDIVIDUAL DISTRIBUTION AMOUNTS DETERMINED BY THE CEO. PARTICIPATING EMPLOYEES WILL BE FULLY VESTED IN THE AWARDED AMOUNTS ONLY UPON MEETING ALL VESTING REQUIREMENTS AS DEFINED IN THE PLAN AGREEMENT. SCHEDULE J, PART II COLUMN (C) INCLUDES CONTRIBUTIONS AND EARNINGS ON THE 457(F) PLAN AS FOLLOWS: TIMOTHY SULLIVAN $44,293 ROBERT SANDBERG $27,178 JENNIFER SEVERSON $22,253 LEE NORDBY $22,336 CURTIS CORDT $22,040 MARTHA WEST $20,080 UNDER THE SECOND PLAN, A FIXED AWARD HAS BEEN APPROVED BY THE BOARD OF DIRECTORS. ADDITIONAL AWARDS WILL BE MADE ANNUALLY TO THIS PLAN BASED ON AN EARNING FORMULA AND INDEX AS DEFINED IN THE PLAN AGREEMENT. VESTING REQUIREMENTS, AS DEFINED IN THE PLAN AGREEMENT, MUST BE MET BEFORE A PARTICIPANT IS ELIGIBLE TO RECEIVE ANY COMPENSATION UNDER THIS PLAN. SCHEDULE J, PART II COLUMN (C) INCLUDES CONTRIBUTIONS AND EARNINGS ON THE 457(F) PLAN AS FOLLOWS: TIMOTHY SULLIVAN $39,742 ROBERT SANDBERG $19,976 SCHEDULE J, PART II: COLUMN B(I): BASE COMPENSATION IS EQUAL TO MEDICARE WAGES EXCLUDING THE FOLLOWING COMPENSATION COMPONENTS, IF APPLICABLE: - BONUS - PTO CASH OUT - HEALTH INSURANCE EQUALIZER (CASH IN LIEU/WAIVER PAYOUT) - EMPLOYER PROVIDED AUTOMOBILE TAXABLE BENEFIT AMOUNT *MEDICARE WAGES (W2 BOX 5) - MEDICARE WAGES DEFINED AS GROSS WAGES LESS: - EMPLOYEE HSA CONTRIBUTION - ALL EMPLOYEE PAID MEDICAL PREMIUMS (HEALTH, DENTAL, VISION) SCHEDULE J, PART II, COLUMN B(II): BONUS & INCENTIVE COMPENSATION - THIS IS BONUS PAID OUT IN THE 990 CALENDAR YEAR, FOR WH, BONUS PAID IN THE CURRENT YEAR IS FOR THE PREVIOUS YEAR PERFORMANCE. SCHEDULE J, PART II, COLUMN B(III): OTHER REPORTABLE COMPENSATION - PTO CASH OUT - HEALTH INSURANCE EQUALIZER (CASH IN LIEU/WAIVER PAYOUT) - EMPLOYER PROVIDED AUTOMOBILE-TAXABLE BENEFIT AMOUNT SCHEDULE J, PART II, COLUMN C: RETIREMENT AND OTHER DEFERRED COMPENSATION - EMPLOYER 401K CONTRIBUTION - DISCRETIONARY CONTRIBUTIONS TO DEFINED CONTRIBUTION PLAN - DEFERRED COMPENSATION ALLOCATION (NOT SUBSTANTIALLY VESTED) - EMPLOYER CONTRIBUTIONS TO 457(B) PLAN - EMPLOYER DISCRETIONARY ALLOCATIONS TO 457(F) PLAN SCHEDULE J, PART II, COLUMN D: NONTAXABLE BENEFITS - INSURANCE PREMIUMS PAID BY THE EMPLOYER THAT ARE NONTAXABLE - HEALTH, VISION, DENTAL, LIFE, LONG-TERM DISABILITY AND LONG-TERM CARE - CAFETERIA PLANS (NON-TAXABLE) - ALL EMPLOYEE PAID PRETAX INSURANCE PREMIUMS (HEALTH, DENTAL, VISION) FORM 990, PART VI, SECTION A, LINE 3 THE ASSOCIATION ENTERED INTO AN AGREEMENT WITH GROWTH OPERATORS ADVISORY SERVICES LLC FOR THE SERVICES OF CFO, ROB DEWOLFE. THE ASSOCIATION PAID $90,020 FOR ROB'S SERVICES. FORM 990, PART VI, SECTION A, LINE 6 THE COOPERATIVE WAS FORMED BY, AND IS MADE UP OF MEMBERS TO PROVIDE ELECTRIC SERVICE AT COST. FORM 990, PART VI, SECTION A, LINE 7A WRIGHT-HENNEPIN'S ELECTRIC SERVICE TERRITORY IS DIVIDED INTO NINE DISTRICTS, EACH OF WHICH IS REPRESENTED BY A BOARD MEMBER. THE MEMBERS FROM EACH DISTRICT ELECT THEIR OWN DIRECTOR TO SERVE ON WRIGHT-HENNEPIN'S BOARD FOR A THREE-YEAR TERM. FORM 990, PART VI, SECTION A, LINE 7B MEMBERS VOTE ON RESTATED BYLAWS, RESTATED ARTICLES OF INCORPORATION AND DISTRICT DIRECTOR ELECTIONS. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PRESENTED TO THE BOARD PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY COVERS BOARD MEMBERS AND STAFF. BOARD MEMBERS WHO ARE DEEMED TO HAVE A POTENTIAL CONFLICT OF INTEREST ARE REQUIRED TO ABSTAIN FROM VOTING ON THE TOPIC. A CONFLICT MAY RESULT IN REMOVAL FROM THE BOARD. FORM 990, PART VI, SECTION B, LINE 15 WH ENGAGES AN INDEPENDENT OUTSIDE VENDOR FOR A COMPENSATION MARKET STUDY WHICH CREATES A BENCHMARK FOR ALL NON-UNION POSITIONS IN THE ORGANIZATION. ANNUAL PERFORMANCE REVIEWS ARE CONDUCTED ALONG WITH WAGE AND SALARY ADJUSTMENTS. ADJUSTMENTS ARE TIED TO PERFORMANCE MEASURED BY A STRATEGY MAP AND WORKPLAN MADE ACCESSIBLE TO ALL EMPLOYEES. PAY SCALES MAY BE ADJUSTED BASED ON MARKET CONDITIONS. ALL UNION EMPLOYEES FOLLOW INCREASES AS DETERMINED BY THEIR UNION CONTRACT. CEO COMPENSATION IS DETERMINED BY THE BOARD OF DIRECTORS. CFO AND KEY EMPLOYEE COMPENSATION IS DETERMINED BY THE CEO. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL INFORMATION IS AVAILABLE ON THE WEBSITE. FORM 990, PART VII, SECTION A: THE COOPERATIVE PROVIDES EACH DIRECTOR A QUESTIONNAIRE TO FILL OUT REGARDING THE AVERAGE NUMBER OF HOURS SPENT PER WEEK ON DUTIES RELATED TO THE COOPERATIVE. COMPLETED QUESTIONNAIRES ARE USED TO ANSWER QUESTIONS ON THE 990. DIRECTOR COMPENSATION FOLLOWS WH POLICY CORP-120. FORM 990, PART IX, LINE 4, BENEFITS PAID TO OR FOR MEMBERS: AS REQUIRED BY FORM 990 INSTRUCTIONS, FORM 990, PART IX, LINE 4 (BENEFITS PAID TO OR FOR MEMBERS) INCLUDES PATRONAGE DIVIDENDS PAID. THIS AMOUNT IS AN EXPENSE FOR PURPOSES OF FORM 990, BUT IS NOT RECOGNIZED AS AN EXPENSE UNDER GAAP REPORTING REQUIREMENTS, WHICH ARE USED FOR BOOK INCOME. THE RESULT IS A BOOK TO TAX DIFFERENCE WHICH IS DISCLOSED ON PART XI. IN REFERENCE TO PART IX, LINE 4, THE COOPERATIVE HAS INTERPRETED "PATRONAGE DIVIDENDS PAID" AS CAPITAL CREDITS ALLOCATED TO MEMBERS UNDER THE PREEXISTING OBLIGATIONS PURSUANT TO THE BYLAWS OF THE COOPERATIVE. FORM 990, PART IX, LINE 24A: THE COOPERATIVE PURCHASES POWER FOR RESALE FROM MULTIPLE SUPPLIERS. THIS PRACTICE HELPS WH KEEP COSTS COMPETITVE FOR THE MEMBERS. FORM 990, PART XI, LINE 9: PATRONAGE CAPITAL RETIRED -4,685,566. ALLOCATION OF 2024 MARGINS TO MEMBERS IN 2025 9,984,040. FORM 990, PART XII, LINE 2C: THERE HAVE BEEN NO CHANGES TO THE COOPERATIVE'S OVERSIGHT RESPONSIBILITIES THIS YEAR. WH GENERATION LLC 6800 ELECTRIC DRIVE ROCKFORD MN 55373 200233791 BACK UP POWER SOLUTIONS MN WRIGHT HENNEPIN HOLDING COMPANY WH SERVICES LLC 6800 ELECTRIC DRIVE ROCKFORD MN 55373 203548423 ELECTRICAL, PLUMBING, HEATING AND COLLING INSTALLATION AND REPAIRS MN WRIGHT HENNEPIN HOLDING COMPANY WH SECURITY LLC 6800 ELECTRIC DRIVE ROCKFORD MN 55373 202895403 INSTALLS, SERVICES AND MONITORS HOME AND COMMERCIAL SECURITY SYSTEMS MN WRIGHT HENNEPIN HOLDING COMPANY WH INTERNATIONAL RESPONSE CENTER LLC 6800 ELECTRIC DRIVE ROCKFORD MN 55373 262895161 SECURITY SYSTEM ALARM MONITORING FACILITY MN WRIGHT HENNEPIN HOLDING COMPANY WH HOLDING INVESTMENTS LLC 6800 ELECTRIC DRIVE ROCKFORD MN 55373 274414837 INVESTMENT HOLDING COMPANY MN WRIGHT HENNEPIN HOLDING COMPANY WH SOLAR LLC 6800 ELECTRIC DRIVE ROCKFORD MN 55373 611740967 PRODUCES SOLAR POWER; DESIGNS, CONSTRUCTS, AND OPERATES SOLAR ARRAYS MN WRIGHT HENNEPIN HOLDING COMPANY WRIGHT-HENNEPIN ELECTRIC TRUST 6800 ELECTRIC DRIVE ROCKFORD MN 55373 411801974 PROVIDES A FUNDING SOURCE FOR OTHER NON-PROFIT ORGANIZATIONS MN 501(C)(3) LINE 7 WRIGHT-HENNEPIN COOPERATIVE ELECTRIC ASSOCIATION 1 HEARTLAND SERVICES LLC 6800 ELECTRIC DRIVE ROCKFORD MN 553730330 411913777 ENGINEERING MN WRIGHT-HENNEPIN HOLDING COMPANY UNRELATED 0 1 0.50000 WRIGHT-HENNEPIN HOLDING COMPANY 6800 ELECTRIC DRIVE ROCKFORD MN 55373 203548124 SEE SCHEDULE R, PART VII FOR DESCRIPTION OF PRIMARY ACTIVITY. MN WRIGHT-HENNEPIN COOPERATIVE ELECTRIC ASSOCIATION C 576729 21900846 1.00000 1 0 0 0 1 0 0 0 0 0 0 0 1 0 1 1 1 1 0 0 WRIGHT-HENNEPIN HOLDING COMPANY N 759263 CASH WRIGHT-HENNEPIN HOLDING COMPANY O 1143270 CASH WRIGHT-HENNEPIN ELECTRIC TRUST L 288958 CASH FORM 990, SCHEDULE R, PART IV: WH HOLDING EXISTS AS AN INDEPENDENT BUSINESS STRUCTURE THAT OFFERS INNOVATIVE AND COMPETITIVE PRODUCTS AND SERVICES; IT WAS CREATED TO MANAGE RISK, OPTIMIZE RESOURCES, INCREASE STRATEGIC ENERGY SALES, DELIVER COMPLEMENTARY BENEFITS AND GENERATE PROFITS TO OFFSET THE RETAIL PRICE OF ELECTRICITY FOR WH MEMBERS. FORM 990, SCHEDULE R, PART I, COLUMNS D & E: THE DISREGARDED ENTITIES LISTED IN PART I ARE WHOLLY OWNED SUBSIDIARIES OF WRIGHT-HENNEPIN HOLDING COMPANY (WH HOLDING), WHICH IS A WHOLLY OWNED SUBSIDIARY OF WRIGHT-HENNEPIN COOPERATIVE ASSOCIATION. COLUMNS D AND E WERE LEFT BLANK TO AVOID DUPLICATIVE REPORTING AS THE REVENUE AND ASSETS ARE PART OF WH HOLDING'S NUMBERS IN PART IV.