2020-10-16T13:38:27-05:00 2019-12-31 450310328 BRADY MARTZ AND ASSOCIATES PC PO BOX 14296 GRAND FORKS ND 582084296 990 2019-01-01 410419150 MINNESOTA VALLEY ELECTRIC COOPERATIVE MINN 9524922313 125 MINNESOTA VALLEY ELECTRIC DRIVE JORDAN MN 55352 GERALD MARECK VP FINANCE 9524922313 2020-10-09 1 DAVID HOLT P00014251 7017754685 2020-10-09 24.111.23.187 2020-10-09 10:12:48 CD P 395636C0289E73AFD8F252F18F8A4C9B0684D197 6C39C89A0B916563EEFC9C4D81EC75D1023FE21F 2019 2021-04-22 16:20:28Z RYAN HENTGES 125 MINNESOTA VALLEY ELECTRIC DRIVE JORDAN MN 55352 92672651 0 X WWW.MVEC.NET X 1937 MN PROVIDE ELECTRIC SERVICE TO MEMBERS 9 9 118 0 -8106 0 0 0 92168041 90257542 496371 524528 3743910 1873616 96408322 92655686 0 0 5391009 3221713 938040 1010244 0 0 0 90196733 88110835 96525782 92342792 -117460 312894 203198407 213393836 132356578 140885183 70841829 72508653 PROVIDE ELECTRIC SERVICE TO MEMBERS 0 0 PROVIDE ELECTRIC SERVICE TO MEMBERS 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 1 0 0 0 0 1 1 1 1 0 1 353 0 118 1 1 1 0 0 0 0 89455099 4951253 0 0 0 X 9 9 0 0 0 0 1 1 1 1 0 0 0 1 1 1 1 1 1 1 1 1 0 X GERALD MARECK 9524922313 125 MINNESOTA VALLEY ELECTRIC DRIVE JORDAN MN 55352 X BRENT LAWRENCE PRESIDENT 9.00 X 22250 0 0 KEVIN GIBBS DIRECTOR 9.00 X 18050 0 0 MICHELLE MORRISON SECRETARY/TREASURER 9.00 X 18830 0 0 THOMAS WOLF DIRECTOR 7.00 X 18050 0 0 JAMES CONNELLY DIRECTOR 7.00 X 18050 0 0 DEBORAH ERICKSON DIRECTOR 7.00 X 13900 0 0 FRANCES BARTEN DIRECTOR 7.00 X 18050 0 0 WILLIAM HEINLEIN DIRECTOR 7.00 X 18050 0 0 GARY HABERMAN VICE PRESIDENT 7.00 X 18530 0 0 RYAN HENTGES GENERAL MANAGER 40.00 X 236662 0 69404 GERALD MARECK VP FINANCE 40.00 X 184736 0 61061 MARVIN DENZER VP KEY ACCOUNTS 40.00 X 192519 0 88340 STEVEN VOLEK FOREMAN 40.00 X 155304 0 43693 CURT CORDT ENGINEERING MANAGER 40.00 X 149090 0 27036 JAMES SCHWALBE FOREMAN - LEAD 40.00 X 148984 0 62057 STUART HAEFNER FOREMAN MAINTENANCE 40.00 X 148545 0 47627 BRYAN OTT ONE MAN MAINTENANCE 40.00 X 159946 0 33819 1539546 0 433037 40 0 1 0 DONLIE UNDERGROUND INC 10210 235TH ST W LAKEVILLE MN 55044 UNDERGROUND INSTALLATION 2830328 CARR'S TREE SERVICE INC PO BOX 250 OTTERTAIL MN 565710250 TREE TRIMMING 1835323 KARIANPETERSON POWER LINE CONTRACTING PO BOX 345 MONTEVIDEO MN 56265 POWERLINE CONSTRUCTION 1484726 NATIONAL INFORMATION SOLUTIONS COOPERATI 3201 NYGREN DR MANDAN ND 585541480 SOFTWARE SUPPORT, DATA PROCESSING SVCS 603208 HIGHLINE CONSTRUCTION INC 16124 OLD LAKE ROAD PAYNESVILLE MN 56362 POWERLINE CONSTRUCTION 502073 6 CONSUMER ELECTRIC SALES 221000 90226575 90226575 POLE RENTALS 900099 30967 30967 90257542 205944 205944 335549 16965 318584 318584 318584 CAPITAL CREDITS 900099 2081205 2081205 PARTNERSHIP INCOME 230000 73561 -28051 101612 MVUS LLC 900099 20080 19945 135 -301230 -301230 1873616 92655686 92006550 -8106 657242 X 3221713 1010244 3535720 5662809 COST OF POWER 63750439 DISTRIBUTION EXPENSE - 7962407 GENERAL AND ADMINISTRAT 3565783 CONSUMER ACCOUNTS - LAB 2444045 1189632 92342792 2353227 1284058 8000000 7200000 12622585 12811288 163078 201508 2581629 2888218 282223 258932 195208778 50246005 134938820 144962773 42252444 43782657 4401 4402 203198407 213393836 12672636 13748848 96863341 112507117 14000000 6000000 8820601 8629218 132356578 140885183 X 0 0 0 0 70841829 72508653 70841829 72508653 203198407 213393836 X 312894 1353930 X X 0 1 X 1 0 2065051 2065051 6622059 3074829 3547230 11863865 8766260 3097605 174657803 38404916 136252887 144962773 GREAT RIVER ENERGY/COOP POWER ASSOC 28970146 C NRUCFC CAPITAL TERM CERTIFICATES 755563 C FEDERATED ACQUISITIONS, LLC 974863 C OTHER INVESTMENTS 2544126 C BASIN ELECTRIC 9037959 C CFC MEMBER CAPITAL CERTIFICATE 1500000 C 43782657 CUSTOMER DEPOSITS 878820 UNLOCATED PATRONS 1292176 DEFERRED STABILIZATION 6431600 MISC UNCLAIMED PROPERTY 11249 DEFERRED C&I DEV REFUNDABLE DEPOSIT 15373 8629218 X PART X, LINE 2: THE COOPERATIVE IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES UNDER 501(C)(12) OF THE INTERNAL REVENUE CODE. THE COMPANY'S POLICY IS TO EVALUATE THE LIKELIHOOD THAT ITS UNCERTAIN TAX POSITIONS WILL PREVAIL UPON EXAMINATION BASED ON THE EXTENT TO WHICH THOSE POSITIONS HAVE SUBSTANTIAL SUPPORT WITHIN THE INTERNAL REVENUE CODE AND REGULATIONS, REVENUE RULINGS, COURT DECISIONS, AND OTHER EVIDENCE. IT IS THE OPINION OF MANAGEMENT THAT THE COOPERATIVE HAS NO SIGNIFICANT UNCERTAIN TAX POSITIONS THAT WOULD BE SUBJECT TO CHANGE UPON EXAMINATION. THE FEDERAL INCOME TAX RETURNS OF THE COMPANY ARE SUBJECT TO EXAMINATION BY THE IRS, GENERALLY FOR THREE YEARS AFTER THEY WERE FILED. X 0 0 0 RYAN HENTGES GENERAL MANAGER 211662 0 25000 0 0 0 50395 0 20049 0 307106 0 0 0 GERALD MARECK VP FINANCE 183202 0 1534 0 0 0 50280 0 11800 0 246816 0 0 0 MARVIN DENZER VP KEY ACCOUNTS 185899 0 6620 0 0 0 70018 0 19350 0 281887 0 0 0 STEVEN VOLEK FOREMAN 154265 0 1039 0 0 0 28768 0 15136 0 199208 0 0 0 CURT CORDT ENGINEERING MANAGER 147671 0 1419 0 0 0 8027 0 19971 0 177088 0 0 0 JAMES SCHWALBE FOREMAN - LEAD 148207 0 777 0 0 0 43735 0 18533 0 211252 0 0 0 STUART HAEFNER FOREMAN MAINTENANCE 147790 0 755 0 0 0 38165 0 9673 0 196383 0 0 0 BRYAN OTT ONE MAN MAINTENANCE 159191 0 755 0 0 0 22885 0 11145 0 193976 0 0 0 CARR'S TREE SERVICE INC ENTITY FOR WHICH RYAN HENTGES, CEO, WAS SERVING AS DIRECTOR 1835323 TREE TRIMMING 0 KARIAN PETERSON POWER LINE CONTRACTING ENTITY FOR WHICH RYAN HENTGES, CEO, WAS SERVING AS DIRECTOR 1484726 POWER LINE SERVICES 0 FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION IS A MEMBER OWNED COOPERATIVE. FORM 990, PART VI, SECTION A, LINE 7A THERE IS ONE CLASS OF MEMBERSHIP AND MEMBERS ELECT THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 7B THE MEMBERS VOTE ON SIGNIFICANT ISSUES AT THE ANNUAL MEMBERSHIP MEETINGS. EACH MEMBER HAS ONE VOTE PER ISSUE. FORM 990, PART VI, SECTION A, LINE 8B THERE ARE NO COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 11B THE 990 WAS GIVEN TO EACH DIRECTOR AND THE CEO FOR REVIEW PRIOR TO FILING WITH THE IRS. THE REVIEW WAS CONDUCTED INDIVIDUALLY. FORM 990, PART VI, SECTION B, LINE 12C CONFLICTS OF INTEREST ARE DISCLOSED ANNUALLY BY THE BOARD OF DIRECTORS. MONITORING OCCURS THROUGHOUT THE YEAR THROUGH THE NORMAL REVIEW/PROCESSING OF CASH DISBURSEMENTS; REVIEWING OF MONTHLY FINANCIAL STATEMENTS; WITH THE EMPLOYEE ANNUAL REVIEW PROCESS; AND THROUGH ADHERENCE TO THE COMPANY POLICY ON BUSINESS ETHICS/CONFLICT OF INTEREST. ANNUAL DISCLOSURES ARE REVIEWED BY THE VICE PRESIDENT OF FINANCE. FORM 990, PART VI, SECTION B, LINE 15 CEO - COMPENSATION WAS DETERMINED AND APPROVED BY THE BOARD. OTHER OFFICERS & KEY EMPLOYEES - ANNUAL PERFORMANCE REVIEWS ARE COMPLETED ALONG WITH WAGE AND SALARY ADJUSTMENTS. PAY TABLES ARE ADJUSTED FROM TIME TO TIME BASED ON MARKET CONDITIONS. AN OUTSIDE CONSULTANT WAS USED TO ESTABLISH THE INITIAL PAY PLAN. THE COOPERATIVE FOLLOWS EMPLOYEE POLICY #E-08 REGARDING COMPENSATION PRACTICES FOR NON-UNION PERSONNEL. THE UNION PERSONNEL COMPENSATION IS BASED ON THE COLLECTIVE BARGAINING AGREEMENT. FORM 990, PART VI, SECTION C, LINE 18 THE ORGANIZATION'S PUBLIC INSPECTION COPY OF FORM 990 IS AVAILABLE UPON REQUEST. FORM 990, PART VI, SECTION C, LINE 19 DOCUMENTS ARE PROVIDED UPON REQUEST. FORM 990, PART VII, SECTION A, LINE 1A: INCLUDED IN PART VII, SECTION A, LINE 1A, COLUMN F, IS THE ESTIMATED ANNUAL INCREASE IN THE ACTUARIAL VALUE OF THE DEFINED BENEFIT PLAN. THIS AMOUNT IS AN ESTIMATE OF THE INCREASE OF THE VALUE OF THE PLAN AND IS NOT A CURRENT YEAR EXPENSE OF THE COOPERATIVE. CURRENT YEAR CONTRIBUTIONS INTO THE DEFINED BENEFIT PLAN ARE A CURRENT YEAR EXPENSE AND ARE INCLUDED IN PART IX AS SUCH. CURRENT YEAR CONTRIBUTION AMOUNTS ARE INCLUDED IN THE ESTIMATED ANNUAL INCREASE IN THE ACTUARIAL VALUE OF THE DEFINED BENEFIT PLAN. FORM 990, PART IX, LINE 4 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 G.A.A.P. REPORTING REQUIREMENTS, WHICH ARE USED FOR BOOK INCOME. THE RESULT IS A BOOK TO TAX DIFFERENCE WHICH IS DISCLOSED ON PART XI AND ON SCHEDULE D PARTS XI AND XIII. 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 XI, LINE 9: ALLOCATED CAPITAL CREDITS 3,221,713. EQUITY CAPITAL CREDITS RETIRED -1,781,876. PARTNERSHIP INCOME - BOOK VS. TAX D -76,593. LLC ADJUSTMENT -9,314. FORM 990, PART XII, LINE 2C OVERSIGHT PROCESS OF THE AUDIT AND SELECTION PROCESS OF THE INDEPENDENT AUDITORS HAS NOT CHANGED FROM THE PRIOR YEAR. FORM 990, PART VI, SECTION B, LINE 16B THE COOPERATIVE'S POLICY REGARDING PARTICIPATION IN JOINT VENTURES IS NOT WRITTEN. HOWEVER, THE COOPERATIVE PERFORMS AN 85% TEST ON AN ANNUAL BASIS TO ENSURE THAT IT MAINTAINS ITS TAX EXEMPT STATUS, AND THE OTHER JOINT VENTURE MEMBER IS ALSO A COOPERATIVE. ADDITIONALLY, THE JOINT VENTURE ARRANGEMENT IS REVIEWED AND MONITORED BY THE BOARD OF DIRECTORS. MINNESOTA VALLEY UTILITY SERVICES 125 MINNESOTA VALLEY ELECTRIC DRIVE JORDAN MN 55352 813074308 PROVIDES UTILITY CONSULTING SERVICES MN 86819 64566 MINNESOTA VALLEY ELECTRIC COOPERATIVE MINNESOTA VALLEY ELECTRIC TRUST 125 MINNESOTA VALLEY ELECTRIC DRIVE JORDAN MN 55352 411821090 COLLECT & DISBURSE FUNDS FOR CHARITABLE AND EDUCATIONAL PURPOSES MN 501(C)(3) 7 N/A 0 HEARTLAND SERVICES LLC 6800 ELECTRIC DRIVE PO BOX 330 ROCKFORD MN 553730330 411913777 ENGINEERING, SAFETY, POWER SUPPLY & ADMINISTRATION MN N/A UNRELATED 0 1 0.50000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 MINNESOTA VALLEY ELECTRIC TRUST R 130066 MEMBER BILLING ROUND UP