2018-04-03T18:14:50-05:00 2017-12-31 BKD LLP 1201 Walnut Suite 1700 Kansas City MO 641062246 990 2017-01-01 421378565 Midland Power Cooperative % JEFF BROPHY MIDL 5153864111 1005 E Lincoln Way Jefferson IA 50129 JACK RUNGE PRESIDENT 5153864111 2018-05-15 true Kevin R Ensminger CPA P01310558 8162216300 2017 2022-09-23 18:48:47Z JACK RUNGE 1005 E LINCOLN WAY JEFFERSON IA 50129 54477234 false X WWW.MIDLANDPOWER.COOP X 1991 IA SALE OF ELECTRICITY TO APPROXIMATELY 8,850 MEMBERS LOCATED IN CENTRAL IOWA TO GENERATE INCOME FOR THE SOLE PURPOSE OF MEETING LOSSES AND EXPENSES. 12 12 54 0 14653 0 0 49054886 53478555 196362 249224 369552 326219 49620800 54053998 0 24325 2463860 2323606 431587 3398948 0 0 0 44163616 45489014 47059063 51235893 2561737 2818105 108839577 113373280 61559005 61873673 47280572 51499607 SALE OF ELECTRICITY TO APPROXIMATELY 8,850 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 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 72 0 true 54 true true true false false false false 51052637 3172894 false X 12 12 false false false false true true true true true false false true true false true true true true true false X JEFF BROPHY 5153864111 1005 E LINCOLN WAY JEFFERSON IA 50129 JACK RUNGE PRESIDENT 6.0 0.0 X X 8800 0 16 TOM ROSS VICE PRESIDENT 5.0 0.0 X X 6250 0 11 RANDY CHRISTENSEN SECRETARY 3.0 0.0 X X 4400 0 25 MICHAEL COLEMAN TREASURER 5.0 0.0 X X 5600 0 16 RICK THOMPSON ASST SECRETARY/TREASURER 5.0 0.0 X X 4850 0 16 EARL CHECK DIRECTOR 3.0 0.0 X 4150 0 3 CHARLES GILBERT DIRECTOR 2.0 0.0 X 2600 0 16 PAUL HEINEMAN DIRECTOR 3.0 0.0 X 2850 0 16 TOM INGEBRITSON DIRECTOR 5.0 0.0 X 5450 0 11 KIM RINKER DIRECTOR 6.0 0.0 X 5750 0 16 JOEL SKOW DIRECTOR 5.0 0.0 X 5500 0 16 JAMES WEIGEL DIRECTOR 3.0 0.0 X 3950 0 14 BILL MCKIM CEO 40.0 0.0 X 205798 0 35105 JEFF BROPHY VP OF FINANCE 40.0 0.0 X 101931 0 27033 BRUCE KEENEY VP OF ENGINEERING & OPERATIONS 40.0 0.0 X 116407 0 24075 SCOTT BENZ LINEMAN 40.0 0.0 X 102841 0 34317 587127 0 120706 5 false true false LEGACY POWER LINE INC 12822 HWY 10 WADENA MN 56482 OH LINE REBUILD 1075102 NORTH CENTRAL LINE SERVICE LTD PO BOX 86 ALTA IA 51002 OH LINE REBUILD 775190 ASPLUNDH TREE EXPERT CO 708 BLAIR MILL ROAD WILLOW GROVE PA 19090 LINE MAINT-TREE TRIM 196107 CENTRAL IOWA TREE CARE 508 CRAWFORD ST BOONE IA 50036 LINE MAINT-TREE TRIM 146004 4 0 SALE OF POWER 221000 50598472 50598472 CAPITAL CREDITS 900099 2855797 2855797 MONITORING SERVICES 517000 24286 13168 11118 53478555 208042 208042 0 0 8162 8162 0 8162 8162 41182 41182 41182 41182 0 0 0 0 0 0 281374 423236 -141862 -145397 3535 MISCELLANEOUS REVENUE 900099 459919 459919 459919 54053998 53322040 14653 717305 24325 0 0 2323606 430193 0 2112273 388318 285045 183119 0 403881 16400 0 0 0 5280 126427 86075 62373 0 0 0 0 475211 1806029 0 4872847 27624 COST OF POWER 34909887 DIST EXP - MAINTENANCE 1353974 DIST EXP - OPERATIONS 708700 CUSTOMER SVC & ACCOUNT EXP 283532 350774 51235893 331370 268750 4050855 5070751 0 0 5124933 5588088 0 0 0 0 410000 0 1365306 1309315 1449073 1200673 119778148 39772311 77784942 80005837 0 0 0 0 18309461 19916229 0 0 13637 13637 108839577 113373280 4894999 5260729 0 0 1000000 275670 0 0 0 0 0 0 54614596 55607661 0 0 1049410 729613 61559005 61873673 X 0 0 0 0 47280572 51499607 47280572 51499607 108839577 113373280 X 2818105 1400930 X false true X true false 303376 303376 7680606 3422669 4257937 102848456 36349642 66498814 8945710 0 8945710 80005837 INVESTMENTS - ASSOCIATED ORG.S 16211566 C ECONOMIC DEVELOPMENT LOANS 3023376 C SPECIAL FUNDS REVOLVING LOANS 582658 C OTHER INVESTMENTS 98629 C 19916229 0 ACCRUED POST-RETIREMENT BENEFITS 553286 CUSTOMER DEPOSITS 176327 729613 54022368 54022368 31630 31630 54053998 48880657 48880657 2355236 2355236 51235893 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 XI, LINE 4B ENVIROWATCH EXPENSES $ 31,630 SCHEDULE D, PART XII, LINE 4B PATRONAGE CAPITAL ALLOCATED TO MEMBERS $ 2,323,606 ENVIROWATCH EXPENSES 31,630 ---------- TOTAL $ 2,355,236 X X false false false BILL MCKIM CEO 204870 0 0 0 928 0 12213 0 22892 0 240903 0 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 ANNUAL MEETING OF THE MEMBERSHIP. 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 OR BY-LAWS 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 ARE REQUIRED TO FILL OUT A CONFLICT OF INTEREST DISCLOSURE STATEMENT ANNUALLY. OFFICERS ARE NOT REQUIRED TO COMPLETE THE DISCLOSURE STATEMENT. FORM 990, PART VI, SECTION B, LINES 15A & 15B LINE 15A MIDLAND POWER COOPERATIVE'S BOARD OF DIRECTORS PERFORMS AN ANNUAL REVIEW OF THE CEO USING NRECA SURVEY DATA TO DETERMINE THE RATE OF PAY. 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. FORM 990, PART VI, SECTION C, LINE 19 ANNUAL REPORTS ARE DISTRIBUTED AT THE ANNUAL MEETING THAT CONTAIN THE FINANCIAL STATEMENTS. ALL OTHER POLICIES ARE AVAILABLE UPON REQUEST. 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 TO MEAN PATRONAGE DIVIDENDS 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 PART XII ON SCHEDULE D. FORM 990, PART XI, LINE 9 PATRONAGE CAPITAL ALLOCATED TO MEMBERS $ 2,323,606 RETIREMENT OF CAPITAL CREDITS ( 1,041,186) CHANGES IN OTHER EQUITIES 118,510 ----------- TOTAL $ 1,400,930