2020-11-03T10:44:42-06:00 2019-12-31 BKD LLP 1401 50th Street Suite 350 West Des Moines IA 502665935 990 2019-01-01 421378565 MIDLAND POWER COOPERATIVE % JILL GANNON MIDL 5153864111 1005 E LINCOLN WAY JEFFERSON IA 50129 BILL MCKIM CEO 5153864111 2020-11-15 true Joe R Lynn P01270416 5152230159 2020-11-15 167.68.126.162 42430820203085000000 2020-11-03 P B1F7A2C6F08AEBC734D50AA798F5713E05422773 76A3F4A7227FF13499FEA17FAE6AACDD588A0443 2019 2021-04-22 16:20:28Z JACK RUNGE 1005 E LINCOLN WAY JEFFERSON IA 50129 52800111 false X WWW.MIDLANDPOWER.COOP X 1991 IA SALE OF ELECTRICITY TO APPROXIMATELY 9,091 MEMBERS LOCATED IN CENTRAL IOWA TO GENERATE INCOME FOR THE SOLE PURPOSE OF MEETING LOSSES AND EXPENSES. 12 12 55 0 500 2271 0 0 55993096 52092072 341168 412841 80251 -163113 56414515 52341800 20963 20404 4098220 2217414 3448109 2844838 0 0 0 44976616 44259416 52543908 49342072 3870607 2999728 124903479 127845104 66079237 64698664 58824242 63146440 SALE OF ELECTRICITY TO APPROXIMATELY 9,091 MEMBERS LOCATED IN CENTRAL IOWA TO GENERATE INCOME FOR THE SOLE PURPOSE OF MEETING LOSSES AND EXPENSES. false false MIDLAND POWER IS A RURAL ELECTRIC COOPERATIVE THAT PROVIDES ELECTRICITY TO ITS MEMBERS. false false false false false false false false false true false true false true false true false false false false false false false false false false false false true false false false false false false false false false false false false false false true 97 0 true 55 true true true false false false false 49392470 3380762 false false false X 12 12 false true true false true true true true true false false true true true true true true true true false IA X JILL GANNON 5153864111 1005 E LINCOLN WAY JEFFERSON IA 50129 X BILL MCKIM CEO 40.0 0.0 X 169592 0 48377 BRUCE KEENEY VP OF OPERATIONS 40.0 0.0 X 118112 0 39405 BRIAN KILLEEN LINEMAN 49.3 0.0 X 117456 0 34632 NORM FANDEL VP OF BUSINESS DEVELOPMENT 40.0 0.0 X 116720 0 34926 DAN KYLE LINE SUPERINTENDENT 41.54 0.0 X 104926 0 39275 BARRY MUNSON LINEMAN 44.03 0.0 X 100798 0 20263 JILL GANNON ACCOUNTING MANAGER 40.0 0.0 X 73192 0 28894 JACK RUNGE PRESIDENT 5.82 0.0 X X 12490 0 0 JOEL SKOW DIRECTOR 5.81 0.0 X 9351 0 0 JAMES BYRIEL DIRECTOR 4.2 0.0 X 9343 0 0 TOM ROSS VICE PRESIDENT 5.96 0.0 X X 9086 0 0 MIKE COLEMAN TREASURER 4.7 0.0 X X 9084 0 0 KIM RINKER DIRECTOR 5.52 0.0 X 7445 0 0 TOM INGEBRITSON DIRECTOR 4.94 0.0 X 7033 0 0 RANDY CHRISTENSEN SECRETARY 2.88 0.0 X X 6103 0 0 RICK THOMPSON ASST SECRETARY/TREASURER 3.65 0.0 X X 5959 0 0 PAUL HEINEMAN DIRECTOR 2.85 0.0 X 5253 0 0 CHARLES GILBERT DIRECTOR 3.58 0.0 X 5099 0 0 JIM WEIGEL DIRECTOR 2.79 0.0 X 2818 0 0 WILLIAM HARLEEN DIRECTOR 2.45 0.0 X 2060 0 0 891920 0 245772 6 false true false HIGHLINE CONSTRUCTION INC 16124 OLD LAKE RD PAYNESVILLE MN 56362 OH LINE REBUILDS 1078876 STORY CONSTRUCTION 2810 WAKEFIELD CIRCLE AMES IA 50010 OFFICE BUILDING CONT 837184 INTEGRITY CONTRACTING INC 17827 COUNTY RD 2 SHEVLIN MN 56676 URD LINE MAINT 543737 CENTRAL IOWA TREE CARE 508 CRAWFORD STREET BOONE IA 50036 LINE MAINT-TREE TRIM 215636 ASPLUNDH TREE EXPERT CO 1700 SOLUTIONS CENTER CHICAGO IL 60677 LINE MAINT-TREE TRIM 213456 5 0 SALE OF POWER 221000 49168085 49168085 CAPITAL CREDITS 900099 2923987 2923987 52092072 312880 312880 0 0 750 750 0 750 750 99961 99961 99961 99961 0 0 0 0 0 0 278749 458311 -179562 -180062 500 MISCELLANEOUS REVENUE 900099 15699 15699 15699 52341800 51912010 500 429290 20404 0 0 2217414 411179 0 1762780 277595 242542 150742 0 226176 28205 0 0 0 553795 138160 86988 88989 0 0 0 0 310773 1961417 0 3561354 23523 COST OF POWER 34223268 DIST EXP - MAINTENANCE 1755343 DIST EXP - OPERATIONS 556929 CUSTOMER SVC & ACCOUNT EXP 267737 476759 49342072 5993356 4302490 2165404 601231 0 0 5256818 5446500 0 0 0 0 0 0 1385720 1213906 1124801 1207760 134752111 44814540 85453059 89937571 0 0 0 0 23503087 25122998 0 0 21234 12648 124903479 127845104 4707609 5170637 0 0 286869 245363 0 0 0 0 0 0 60411744 58616083 0 0 673015 666581 66079237 64698664 X 0 0 0 0 58824242 63146440 58824242 63146440 124903479 127845104 X 2999728 1322470 X false true X true false 555526 555526 7870408 4818181 3052227 117336769 39996360 77340409 8989409 8989409 89937571 INVESTMENTS - ASSOCIATED ORG.S 21070761 C ECONOMIC DEVELOP LOANS 2953370 C SPECIAL FUNDS REVOLVING LOANS 1012472 C OTHER PROGRAM INVESTMENTS 86395 C 25122998 0 ACCRUED POST-RETIREMENT BENEFITS 450025 CONSUMER DEPOSITS 216556 666581 52341800 52341800 52341800 47124660 47124660 2217412 2217412 49342072 SCHEDULE D, PART X, LINE 2 MANAGEMENT HAS EVALUATED THEIR INCOME TAX POSITION UNDER THE GUIDANCE INCLUDED IN ASC 740. BASED ON THEIR REVIEW, MANAGEMENT HAS NOT IDENTIFIED ANY MATERIAL UNCERTAIN TAX POSITIONS TO BE RECORDED OR DISCLOSED IN THE FINANCIAL STATEMENTS. SCHEDULE D, PART XII, LINE 4B PATRONAGE CAPITAL ALLOCATED TO MEMBERS $ 2,217,412 X X X false false false BILL MCKIM CEO 158005 0 0 0 11587 0 32552 0 15825 0 217969 0 0 0 BRIAN KILLEEN LINEMAN 116706 0 0 0 750 0 15970 0 18662 0 152088 0 0 0 BRUCE KEENEY VP OF OPERATIONS 116957 0 0 0 1155 0 27955 0 11450 0 157517 0 0 0 NORM FANDEL VP OF BUSINESS DEVELOPMENT 113695 0 2300 0 725 0 24857 0 10069 0 151646 0 0 0 FORM 990, PART VI, SECTION A, LINE 3 Enovus Management Cooperative provides management services to Midland Power Cooperative and Nishnabotna Valley Rural Electric Cooperative. The services provided to the cooperative include CEO tasks and duties performed by Bill McKim. The amount of compensation paid to Bill McKim for services provided to Midland Power Cooperative was $217,969. FORM 990, PART VI, SECTION A, LINE 4 THE BYLAWS WERE AMENDED AND CHANGES WERE MADE TO THE NUMBER, COMPOSITION, QUALIFICATIONS, AUTHORITY OR DUTIES OF THE ORGANIZATION'S OFFICERS OR KEY EMPLOYEES. FORM 990, PART VI, SECTION A, LINE 6 ALL ELECTRIC CUSTOMERS OF THE COOPERATIVE ARE VOTING MEMBERS OF THE COOPERATIVE. EACH MEMBER HAS ONE VOTE AT THE COOPERATIVE'S ANNUAL MEETING. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS OF THE BOARD OF DIRECTORS ARE ELECTED TO THREE YEAR TERMS BY THE MEMBERS OF THE COOPERATIVE AT THE COOPERATIVE'S ANNUAL MEETING. FORM 990, PART VI, SECTION A, LINE 7B ANY MERGERS OR AMENDMENTS TO THE ARTICLES OF INCORPORATION ARE SUBJECT TO APPROVAL BY THE COOPERATIVE'S MEMBERS. FORM 990, PART VI, SECTION B, LINE 11B AN INDEPENDENT ACCOUNTNG FIRM PREPARES AND REVIEWS THE 990. THE 990 IS THEN REVIEWED BY THE ORGANIZATION'S OFFICERS AND ACCOUNTING PERSONNEL. ANY QUESTIONS OR CONCERNS ARE ADDRESSED AND CORRECTIONS MADE. THE 990 RETURN IS PRESENTED TO THE BOARD OF DIRECTORS AND APPROVED BY THE BOARD PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C DIRECTORS AND OFFICERS ARE REQUIRED TO FILL OUT A CONFLICT OF INTEREST DISCLOSURE STATEMENT ANNUALLY. FORM 990, PART VI, SECTION B, LINE 15A MIDLAND POWER COOPERATIVE'S BOARD OF DIRECTORS PERFORM AN ANNUAL REVIEW OF THE CEO USING NRECA SURVEY DATA TO DETERMINE THE RATE OF PAY. FORM 990, PART VI, SECTION B, LINE 15B THE CEO USES THE SAME NRECA DATA THE BOARD USES IN DETERMINING THE SALARIES OF THE KEY EMPLOYEES AND HOURLY EMPLOYEES THAT ARE NON-UNION. A COMPENSATION REVIEW IS DONE ANNUALLY BY THE CEO AND MANAGEMENT STAFF. FORM 990, PART VI, SECTION C, LINE 19 ANNUAL REPORTS ARE DISTRIBUTED AT THE ANNUAL MEETING THAT CONTAIN THE FINANCIAL STATEMENTS. THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. FORM 990. PART XI, LINE 9 PATRONAGE CAPITAL ALLOCATED TO MEMBERS $ 2,217,414 RETIREMENT OF CAPITAL CREDITS (1,033,258) CHANGES IN OTHER EQUITIES 138,314 ----------- TOTAL $ 1,322,470