2025-11-06T10:23:42-06:00 2024-12-31 450250958 Eide Bailly LLP 4585 Coleman St Ste 200 Bismarck ND 58503 990 2024-01-01 380941545 Presque Isle Electric & Gas Co-op PRES 9897338515 Po Box 308 Onaway MI 49765 Allan Berg President & CEO 9897338515 2025-11-04 1 1 Lisa Chaffee CPA P00193453 7012551091 2025-10-23 2024 2025-03-06 01:10:19Z Allan Berg Po Box 308 Onaway MI 49765 70460367 0 X www.pieg.com X 1937 MI To provide energy and other services to sustain and improve the quality of life for our members through the use of a cooperative business structure. 9 9 123 0 0 0 1126354 1126354 60679105 69208608 -1125437 -666413 14783 25523 60694805 69694072 0 0 2718905 6718463 11523112 12092614 0 0 0 49370080 53823834 63612097 72634911 -2917292 -2940839 219484162 240193551 168291549 185248192 51192613 54945359 To provide energy and other services to sustain and improve the quality of life for our members through the use of a cooperative business structure. 0 0 The Presque Isle Electric & Gas Co-op served 35,392 electric members and 13,531 natural gas members. 0 1 0 0 0 0 0 1 0 1 0 0 1 1 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 47 0 1 123 1 0 0 0 0 0 0 0 68724003 619160 0 0 0 X 9 9 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X Allan Berg 9897338515 PO Box 308 Onaway MI 49765 X Allan Berg President & CEO (As of May 2024) 50.00 X X 216045 0 13990 John Brown Vice Chairman/Chairman/Director 14.00 X 14240 0 0 Sandra Borowicz Secretary/Chairman 15.00 X X 14480 0 0 Sally Knopf Director/Secretary 7.00 X X 12320 0 0 Brentt Lucas Treasurer 12.00 X X 14280 0 0 Daryl Peterson Director/Vice Chairman 7.50 X X 12390 0 0 Christopher Nagel Director 4.20 X 14210 0 0 Gerald Smigelski Director (As of Nov 2024) 4.50 X 920 0 0 Kurt Krajniak Director 7.30 X 13740 0 0 Raymond Wozniak Director 9.00 X 11850 0 0 Thomas Sobeck President & CEO (Until June 2024) 45.00 X 192780 0 28068 Randy Stempky CFO 45.00 X 121637 0 70665 Richard Kieliszewski Director Info Tech(Until Aug 2024) 50.40 X 157110 0 13439 Thomas Lupu Working Foreman 56.50 X 180620 0 37035 Thomas Pauly Class A Lineman 56.70 X 177596 0 42714 Kenniston Butler Working Foreman 53.70 X 173801 0 43227 Jason Tribisondi Class A Lineman 51.60 X 161793 0 10691 Donald Lalonde Staking Engineer 52.00 X 160938 0 21214 1650750 0 281043 34 0 1 0 B&M Ashman Inc 8455 Ronda DE Canton MI 48187 Construction 12306279 Northern Utility Contractors Inc 12970 Robins Ridge Rd Charlevoix MI 49720 Drop Construction 2147291 Conexon LLC 2001 Grand Blvd Ste 700 Kansas City MO 64108 Construction Management 1851237 Thunder Bay Tree Service 1172 Halley Road Alpena MI 49707 Tree Trimming 624642 Kent Power 7800 Childsdale Ave NE Rockford MI 49341 Construction 469828 9 1126354 1126354 Electric & Gas Sales 221000 60583958 60583958 Broadband Services 517000 4437128 4437128 Capital Credits 221000 2848308 2848308 Other Member Services 221000 599026 599026 740188 740188 69208608 46385 46385 712798 -712798 -712798 -712798 79020 53497 25523 25523 69694072 69234131 0 -666413 X 6718463 933331 9405820 986289 767174 7923369 7801667 Cost of Energy 28479172 Distribution - Ops & Ma 9164714 Administrative and Gene 4172045 Customers Accounts & Se 3552324 -7269457 72634911 208996 625157 5081755 3226397 6476997 8533804 16175199 13324349 295118 573735 270681591 89812516 159510220 180869075 3657871 2813747 28078006 30227287 219484162 240193551 10054351 8217575 501801 512688 3384 4469 140733265 151953368 15055338 21869838 1943410 2690254 168291549 185248192 X 325255 332540 0 0 50867358 54612819 51192613 54945359 219484162 240193551 X -2940839 6693585 X 0 1 X 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 953225 953225 22758706 3394772 19363934 220845837 86417744 134428093 26123823 26123823 180869075 Investments in Associated Organizations 28965995 Investment in Subsidiary 1261292 30227287 Deferred Credits 1829600 Accrued post-retirement Benefits 788968 Patronage Capital Payable 71686 2690254 X 69694072 0 69694072 0 69694072 65916448 0 65916448 6718463 6718463 72634911 Part IV, Line 2b: The members of the Cooperative can elect to round up their monthly electric bill to the next dollar. These funds collected from the membership are held in a Cooperative account until they are disbursed directly to the Community First Fund on a monthly basis. Funds that exist at the beginning and end of year are a result of a timing difference in the collection of these funds and the disbursement of the funds. The amounts held were $4,469 and $3,384 for the years ending December 31, 2024 and December 31, 2023. 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 XII, Line 4b - Other Adjustments: Patronage Capital Credits Allocated for Current Year 6,718,463. X X X 0 0 0 Allan Berg President & CEO (As of May 2024) 213618 0 0 0 2427 0 0 0 16032 0 232077 0 0 0 Thomas Sobeck President & CEO (Until June 2024) 188090 0 0 0 4690 0 19252 0 10334 0 222366 0 0 0 Thomas Pauly Class A Lineman 177308 0 0 0 288 0 10457 0 34051 0 222104 0 0 0 Thomas Lupu Working Foreman 179734 0 60 0 826 0 10791 0 28038 0 219449 0 0 0 Kenniston Butler Working Foreman 173296 0 30 0 475 0 10969 0 34118 0 218888 0 0 0 Randy Stempky CFO 119966 0 0 0 1671 0 32633 0 39657 0 193927 0 0 0 Donald Lalonde Staking Engineer 160082 0 30 0 826 0 10093 0 12915 0 183946 0 0 0 Jason Tribisondi Class A Lineman 161678 0 0 0 115 0 10498 0 1986 0 174277 0 0 0 Richard Kieliszewski Director Info Tech(Until Aug 2024) 156456 0 0 0 654 0 13218 0 1313 0 171641 0 0 0 Schedule J, Part II, Column C: Compensation of Officers, Directors, Key Employee, Highest Compensated Employees: Included in other compensation for the CFO 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 1a The Fiber to Home committee is the only committee that has the authorization to make decisions on behalf of the board. This committee has the authority to make decisions regarding construction details and financing for the Fiber to Home operations. There are no other committees that can act on behalf of the governing board. Form 990, Part VI, Section A, line 6 There is only one class of members. Each member receives one vote. Each member vote carries the same weight. Form 990, Part VI, Section A, line 7a The members of the Cooperative elect the governing board. Form 990, Part VI, Section A, line 7b 1) Members elect the board of directors. 2) Members can remove a board director by two-thirds vote. 3) Amendments to bylaws are approved by the members or two-thirds vote of the board of directors. Form 990, Part VI, Section B, line 11b The Form 990 is reviewed by the CEO, CFO and the governing Board of Directors prior to filing with the IRS. Form 990, Part VI, Section B, line 12c Annually, the Board and key management officers must review the conflict of interest policy and submit a certification and disclosure form to the Board Chairman and CEO. Any potential conflicts are disclosed to the disinterested board members. The disinterested board members deliberate and vote regarding the transaction outside the presence and voting of the interested person. The deliberation is noted in the board minutes. If an individual has an actual conflict of interest they have thirty day to resolve the conflict or they are removed from the Board. Form 990, Part VI, Section B, line 15 The Board conducts an evaluation of the CEO's compensation using the NRECA national compensation survey. The CFO's compensation is determined by the CEO who then presents it the Board for approval. The deliberation is documented in the executive session minutes. Form 990, Part VI, Section C, line 19 The organization made its governing documents, conflict of interest policy, and financial statements available to the public during the tax year. Form 990, Part VII, Section A, Column (F) Compensation of Officers for the CFO: 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 $11,941 for Randy Stempky. This amount is an 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 $7,999 for Randy. Form 990, Part VII, Section A, Column (A) Allan Berg served as Chairman of the board until April 2024, and was hired as President & CEO in May 2024. Form 990, Part IX, Line 4 The Cooperative has interpreted the instructions to Part IX, Line 4, to mean patronage capital allocated for the year, rather than patronage capital retired. This is consistent with the Bylaws of the Cooperative. Form 990, Part IX, 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 on line 24e in the amount of $(12,092,614). Form 990, Part XI, line 9: Retirement of capital credits -32,163. Patronage Allocation 6,718,463. Change in Memberships 7,285. Presque Isle Electric & Gas Communities First Fund PO Box 308 Onaway MI 49765 383375631 Charitable MI 501(c)(3) 7 Presque Isle Electric & Gas Co-op 0 Presque Isle Aurora Gas Assets PO Box 308 Onaway MI 49765 382514732 Gas Assets MI Presque Isle Gas & Electric Co-op C 256575 1647600 1.00000 1 0 0 0 0 0 1 0 0 0 0 1 1 0 1 1 1 0 0 0 Presque Isle Aurora Gas Assets K 240479 Cost Presque Isle Aurora Gas Assets F 1000000 Board Resolution