2025-08-25T11:12:32-05:00 2024-12-31 450250958 Eide Bailly LLP 4585 Coleman St Ste 200 Bismarck ND 58503 990 2024-01-01 381101255 Thumb Electric Cooperative of Michigan THUM 9896588571 2231 Main Street Ubly MI 484750157 Bradley Essenmacher General Manager 9896588571 2025-08-25 1 1 Lisa Chaffee CPA P00193453 7012551091 2025-08-25 2024 2025-03-06 01:10:19Z Bradley Essenmacher 2231 Main Street Ubly MI 484750157 34579604 0 X www.tecmi.coop X 1937 MI Electric Cooperative with Broadband. 9 9 67 0 570071 0 0 0 30575610 33894348 644181 646600 47538 38656 31267329 34579604 0 0 2268423 2895326 6931247 8522207 0 0 0 21545306 23687955 30744976 35105488 522353 -525884 169361198 209440494 134122237 171777987 35238961 37662507 Electric Cooperative with Fiber Division. 0 0 Electric power and services provided to 12,404 members and served 2,004 miles. Fiber division provided broadband to 2,965 members. 0 0 0 0 0 0 0 0 0 1 0 1 0 0 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 1 0 1 29 0 1 67 1 1 1 0 0 0 0 30672966 782314 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 0 X Deborah Peruski 9896588571 2231 Main Street Ubly MI 484750157 X Jonathan M Findlay President 2.00 X X 10925 0 0 Kim Nunn Vice President 2.00 X X 11550 0 0 Mike P Briolat Secretary 2.00 X X 9238 0 0 Randall J Dhyse Treasurer 2.00 X X 5963 0 0 Duane Kursinsky Director 2.00 X 3938 0 0 Louis E Wenzlaff Director 2.00 X 7438 0 0 Craig M Osentoski Director 2.00 X 9275 0 0 Matt L Sommer Director 2.00 X 8413 0 0 Erica L Weidman Director 2.00 X 10238 0 0 Bradley Essenmacher General Manager 40.00 X 262517 0 159127 Deborah Peruski Accounting Manager 40.00 X 133231 0 111577 Brandon Legault Operations Manager 40.00 X 182609 0 44699 Michael Cleland Journeyman Lineman 40.00 X 168462 0 32698 James Vogel Journeyman Lineman-Foreman 40.00 X 167106 0 45094 Gary Burns Jr Journeyman Lineman-Foreman 40.00 X 166651 0 30680 Raymond Eskau Journeyman Lineman 40.00 X 166046 0 31902 Michael Kozlowski Journeyman Lineman-Utility 40.00 X 163457 0 44013 1487057 0 499790 29 0 1 0 Lecom Construction 27663 Mound Rd Warren MI 48092 Fiber Contractor 18250155 IRBY PO Box 741001 Atlanta GA 30384 Line/Fiber Materials 3103017 Pulse Broadband LLC 2121 Cooperative Way Ste 600 Herndon VA 20171 Fiber Materials 2250567 Kappen Tree Service 2675 Hurds Corner Rd Cass City MI 48726 Tree Trimming 1642307 Graybar Electric Company 12431 Collections Center Drive Chicago IL 60693 Line/Fiber Materials 1339838 21 Electric Sales 221000 26389522 26389522 Fiber Revenue 517000 5507710 5507710 Other Sales 900099 1465402 1465402 Capital Credits 900099 531675 531675 39 39 33894348 618168 570071 48097 38656 0 38656 38656 38656 28432 0 28432 28432 28432 34579604 33894348 570071 115185 X 2895326 854433 6078162 1086380 503232 1216968 4634681 4750687 Cost of Power 11262493 Distribution 4163491 Fiber 3406784 Admin and General 1638760 -7385909 35105488 1921415 1830323 7111281 19621412 12661701 10094779 197645 227278 196176720 39924911 125906577 156251809 21527142 21379837 35437 35056 169361198 209440494 14584418 25601044 819245 326925 118718574 145850018 134122237 171777987 X 192790 195000 0 0 35046171 37467507 35238961 37662507 169361198 209440494 X -525884 2949430 X 0 1 X 1 0 1163862 1163862 2996179 983533 2012646 175009234 38941378 136067856 17007445 17007445 156251809 Vacant Land 12000 C Hogan Property 58729 C Associated Organizations-Patronage Capital 2183017 C Investment in Thumb Energy Service Corporation 53136 C Air Advantage LLC 18360126 C Capital Term Certificates 558458 C Member Capital Securities 150000 C Cooperative Finance Corp Membership 2000 C CoBank Investment 1000 C CTC Subscription 1371 C 21379837 X 34698033 118429 118429 34579604 0 34579604 32210162 0 32210162 2895326 2895326 35105488 Part X, Line 2: The Company evaluates its tax positions that have been taken or are expected to be taken on income tax returns to determine if an accrual is necessary for uncertain tax positions. As of December 31, 2024 and 2023, the unrecognized tax benefits accrual was zero. The Company will recognize future accrued interest and penalties related to unrecognized tax benefits in income tax expense if incurred. Part XI, Line 2d - Other Adjustments: Earnings of Wholly Owned Subsidiary 118,429. Part XII, Line 4b - Other Adjustments: Current Year Patronage Allocation 2,895,326. X X 0 0 0 Bradley Essenmacher General Manager 258165 0 0 0 4352 0 136678 0 26996 0 426191 0 0 0 Deborah Peruski Accounting Manager 131309 0 0 0 1922 0 102852 0 10963 0 247046 0 0 0 Brandon Legault Operations Manager 181917 0 0 0 692 0 44699 0 2832 0 230140 0 0 0 James Vogel Journeyman Lineman-Foreman 165916 0 0 0 1190 0 24833 0 22324 0 214263 0 0 0 Michael Kozlowski Journeyman Lineman-Utility 163047 0 0 0 410 0 20825 0 25163 0 209445 0 0 0 Michael Cleland Journeyman Lineman 168072 0 0 0 390 0 14517 0 20117 0 203096 0 0 0 Raymond Eskau Journeyman Lineman 165622 0 0 0 424 0 13721 0 20117 0 199884 0 0 0 Gary Burns Jr Journeyman Lineman-Foreman 166429 0 0 0 222 0 12499 0 20243 0 199393 0 0 0 Schedule J, Part II, column C, Deferred Compensation Included in other compensation is the estimated current year increase in the actuarial value of the defined benefit plan. These amounts do not represent any current year contributions to the plan. They are estimates of the increase in the actuarial value of the plans received from the NRECA . The current year expense and the increase in actuarial value for each employee are reflected in the statement for Form 990, Part VII, Column f. Form 990, Part VI, Section A, line 6 The Cooperative has members. Each member has one voting right. Form 990, Part VI, Section A, line 7a The Board of Directors is elected by the members. Form 990, Part VI, Section A, line 7b Members vote on items affecting the bylaws of the Cooperative. Form 990, Part VI, Section A, line 8b There are no other committees that act on behalf of the governing board. Form 990, Part VI, Section B, line 11b The Form 990 is reviewed and approved by the General Manager and Accounting Manager. The form is then provided to the Board before it is filed with the IRS. Form 990, Part VI, Section B, line 12c The Board and Management staff conduct a yearly review for any conflicts. The General Manager reviews the documents and determines if a conflict exists. The General Manager would request that individual abstain from voting. Form 990, Part VI, Section B, line 15 The Board annually reviews and approves the compensation for the General Manager and Accounting Manager in conjunction with NRECA compensation study. The Board review and approval is substantiated in the Board minutes. Form 990, Part VI, Section C, line 19 The governing documents, conflict of interest policy and financial statements are available to the public upon request. Form 990, Part Vll, Section A, Line 1a: Included in column "F", estimated amount of other compensation, is the estimated annual increase in the actuarial value of the defined benefit plan. The estimated increase is as follows for the Part VII individuals: Bradley Essenmacher: $126,306 Deborah Peruski: $97,585 Brandon Legault: $37,975 Michael Cleland: $10,096 Gary Burns Jr: $7,784 James Vogel: $20,118 Raymond Eskau: $9,300 Michael Kozlowski: $16,317 These amounts are estimates in the increase of the value of the plan and are not current year expenses of the cooperative. The current year expense for this defined benefit plan was as follows: Bradley Essenmacher: $63,989 Deborah Peruski: $31,966 Brandon Legault: $39,990 Michael Cleland: $21,731 Gary Burns Jr: $23,177 James Vogel: $23,177 Raymond Eskau: $21,731 Michael Kozlowski: $22,163 Form 990, Part IX, Line 4 The Cooperative has interpreted the instructions to this line and section to mean patronage capital allocated for the year, rather than patronage capital retired. This is consistent with the Cooperative bylaws. Form 990, Part IX, Statement of Functional Expenses, Line 24e The labor, pension, and payroll taxes reported on lines 5-10 are already included in distribution expense, administrative & general expense and customer expense. Therefore, these amounts are being subtracted out as an other deduction included on line 24e in the amount of $(8,522,207). Form 990, Part XI, line 9: Earnings of Wholly Owned Subsidiary 118,429. Patronage Capital Allocated 2,895,326. Change in Membership 2,210. Other Equity Transactions 9,435. Retirement of Capital Credits -75,970. Thumb Energy Services Inc 2231 Main Strret Ubly MI 48475 383291674 Holding Company MI Thumb Electric Cooperative Inc C 4471339 19470844 1.00000 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 1 1 Thumb Energy Services Corporation A 570071 General Ledger/Loan Document Thumb Energy Services Corporation N 20841 General Ledger Thumb Energy Services Corporation O 1445290 General Ledger Thumb Energy Services Corporation R 1870000 General Ledger Thumb Energy Services Corporation S 1217500 General Ledger