2020-11-04T10:35:20-06:00 2019-12-31 410746749 CLIFTONLARSONALLEN LLP 2689 COMMERCE DRIVE NW SUITE 201 ROCHESTER MN 55901 990 2019-01-01 390783977 CENTRAL WISCONSIN ELECTRIC COOPERATIVE CENT 7156772211 PO BOX 100 ROSHOLT WI 54473 MICHAEL WADE PRESIDENT/CEO 7156772211 2020-10-27 1 CRAIG POPENHAGEN P01587689 5072802300 2020-10-26 67.137.57.251 2020-10-27 10:18:17 CD P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 1C9123CBFBBEEFDA386F3BB1E4DC8BF32FBF933A 2019 2021-04-22 16:20:28Z MICHAEL WADE PO BOX 100 ROSHOLT WI 54473 17143990 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 -63605 0 0 0 16150868 16631353 208208 219365 -70754 218006 16288322 17068724 0 0 672632 703293 293311 342125 0 0 0 15665846 16043507 16631789 17088925 -343467 -20201 60148196 60260954 40782077 40383277 19366119 19877677 WE ARE YOUR TRUSTED ENERGY PARTNER AND PROVIDER OF VALUED COMMUNITY SUPPORT. 0 0 THE COOPERATIVE SOLD 101,362,355 KWH OF ELECTRICITY TO MEMBERS DURING 2019. 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 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 1 8 0 27 1 1 1 0 0 0 0 16631353 281695 0 0 0 X 7 7 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X LILA SHOWER 7156772211 10401 LYSTUL ROAD ROSHOLT WI 54473 MICHAEL L WADE PRESIDENT/CEO 50.00 X 160722 0 115039 KEVIN KURZWEIL VP OF OPERATIONS 50.00 X 106841 0 83339 ANTHONY BUSS JR CHAIRMAN 15.20 X X 14600 0 0 LEE LEHRER DIRECTOR 10.00 X 13050 0 0 ELAINE ECKENDORF SECRETARY/TREASURER 18.60 X X 12850 0 0 RON ONESTI DIRECTOR 10.70 X 12600 0 0 SUE ROMBALSKI DIRECTOR 13.30 X 12200 0 0 LEONARD OPPER DIRECTOR 8.90 X 11900 0 0 TOM SMITH VICE CHAIRMAN 11.60 X X 11050 0 0 355813 0 198378 2 0 1 0 ZIELIE'S TREE SERVICE PO BOX 307 BRUCE WI 54819 BRUSH & SPRAYING 821294 AJ CONSTRUCTION 3532 PLAYBIRD ROAD SHEBOYGAN WI 53083 CABLE TRENCHING 305699 2 SALE OF POWER 221000 16631353 16631353 16631353 196406 196406 16977 67216 -50239 -50239 -61816 11577 22959 0 22959 22959 22959 6800 8050 -1250 -1250 CAPITAL CREDITS 523000 154967 154967 ATC - REVENUE 900099 115067 115067 DBS K-1 INCOME 900099 -539 -539 269495 17068724 16901387 -63605 230942 X 703293 342125 1546279 1976106 COST OF POWER 7907559 MAINTENANCE EXPENSE 1716373 OPERATIONS EXPENSE 907425 ADMINISTRATIVE & GENERA 802070 1187695 17088925 1269594 993818 2075643 2150505 1184338 1169718 369621 324693 4456527 5151535 61942830 19608619 42024797 42334211 869323 913753 7897695 7214558 658 8163 60148196 60260954 1661047 824203 7710000 7520000 30988579 31118496 422451 920578 40782077 40383277 X 0 0 2531602 1981501 16834517 17896176 19366119 19877677 60148196 60260954 X -20201 531759 X X 0 1 X 1 0 224098 224098 1064737 4953124 1602138 4415723 77061 55623810 18006481 37694390 42334211 INVESTMENTS IN NRUCFC NOTES 2631094 C INVESTMENT IN ATC, LLC 2879755 C OTHER ASSOCIATED ORGANIZATIONS 1703709 C 7214558 CUSTOMER DEPOSITS 51063 OTHER LIABILITIES 169150 ACCRUED INTEREST 269396 ACCRUED PAYROLL 317635 ACCRUED GROSS REVENUE TAX 113334 920578 X 17243452 188234 188234 17055218 13506 13506 17068724 16372126 0 16372126 716799 716799 17088925 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 $6,069 FOR THE YEAR ENDED DECEMBER 31, 2019. THERE IS NO PROVISION FOR INCOME TAXES AT DECEMBER 31, 2019 AND 2018. THE COOPERATIVE AND ITS SUBSIDIARY EVALUATED THEIR TAX POSITIONS AND DETERMINED THAT THERE ARE NO UNCERTAIN TAX POSITIONS AS OF DECEMBER 31, 2019 AND 2018. PART XI, LINE 2D - OTHER ADJUSTMENTS: ATC K-1 ADJUST TO TAX NET LOSS 147,202. DBS K-1 ADJUST TO TAX NET LOSS 41,032. PART XI, LINE 4B - OTHER ADJUSTMENTS: RECLASSIFIED EXPENSES 13,506. PART XII, LINE 4B - OTHER ADJUSTMENTS: RECLASSIFIED EXPENSES 13,506. PATRONAGE DIVIDENDS ALLOCATED 703,293. X 0 0 0 MICHAEL L WADE PRESIDENT/CEO 160722 0 0 0 0 0 82151 0 32888 0 275761 0 0 0 KEVIN KURZWEIL VP OF OPERATIONS 106841 0 0 0 0 0 53832 0 29507 0 190180 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. A PUBLIC FINANCE AUTHORITY 273866124 976831AT4 2010-12-15 8870341 OFFICE AND ELECTRIC 0 0 0 A 1480000 8870341 175940 1467 8692934 2014 0 0 0 1 A 0 0 0 0 0 0 0 A 0 0 0 0 0 0 0 0 0 A 0 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 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. THE POLICY IS REVIEWED BY THE ADMINISTRATOR. 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. OTHER OFFICER'S COMPENSATION IS DETERMINED AND APPROVED BY THE CEO THROUGH COMPARISONS TO THE STATE AVERAGE OF THE INDUSTRY. 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. 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 -324,726. ATC K-1 NET INCOME ADJUSTMENT 147,202. CHANGE IN MEMBERSHIPS -35,660. OTHER EQUITY CHANGES 618. DBS K-1 NET INCOME ADJUSTMENT 41,032. PATRONAGE DIVIDENDS ALLOCATED 703,293. 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 6069 230302 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