2025-11-17T13:18:50-06:00 2024-12-31 450310328 BRADY MARTZ & ASSOCIATES PC PO BOX 14296 GRAND FORKS ND 582084296 990 2024-01-01 380429495 CLOVERLAND ELECTRIC COOPERATIVE CLOV 9066356800 725 EAST PORTAGE AVE SAULT STE MARIE MI 49783 MICHAEL HEISE PRESIDENT/CEO 9066356800 2025-11-17 1 0 DAVID HOLT P00014251 7017754685 2025-11-14 2024 2025-03-06 01:10:19Z X MICHAEL HEISE 725 EAST PORTAGE AVE SAULT STE MARIE MI 49783 92891528 0 X WWW.CLOVERLAND.COM X 1938 MI ELECTRIC COOPERATIVE 9 8 135 0 -25210 0 0 0 89165455 91666454 1599613 -1440883 -31395 1082229 90733673 91307800 0 0 40794 4273550 2125622 21059213 0 0 0 81505832 67082716 83672248 92415479 7061425 -1107679 223251430 235029911 151502795 159786587 71748635 75243324 X CLOVERLAND ELECTRIC COOPERATIVE IS A NOT-FOR-PROFIT, MEMBER-OWNED UTILITY FOCUSED ON DELIVERING EXCEPTIONAL SERVICES THROUGH THE GENERATION AND SAFE DELIVERY OF RELIABLE AND AFFORDABLE ENERGY SOLUTIONS THAT ENCOURAGE GROWTH, FOSTER INNOVATION, AND STRENGTHEN THE COMMUNITIES WE SERVE. 0 0 PROVIDE ELECTRIC POWER TO APPROXIMATELY 44,000 CONSUMERS 0 0 0 0 0 0 0 1 0 1 1 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 1 0 0 0 0 0 1 0 0 1 62 0 1 135 1 1 1 0 0 0 0 89531040 2639617 0 0 0 X 9 8 0 0 0 0 1 1 0 1 1 0 0 0 1 0 1 1 1 1 1 1 0 X X JILLIAN TOMKINSON 9066356800 725 EAST PORTAGE AVE SAULT STE MARIE MI 49783 X CARMINE BONACCI JR SECRETARY/TREASURER 5.00 X X 10000 0 0 WILLIAM LALONDE CHAIRMAN 10.00 X X 10000 0 0 VIRGIL MONROE DIRECTOR 5.00 X 8600 0 0 GERALD NETTLETON DIRECTOR 5.00 X 9600 0 0 JASON OBERLE DIRECTOR (THROUGH JUNE 2024) 5.00 X 3250 0 0 PATRICK EGAN DIRECTOR (STARTED JUNE 2024) 5.00 X 0 0 0 KEVIN VANATTA DIRECTOR 5.00 X 600 0 0 RONALD PROVO DIRECTOR 5.00 X 9200 0 0 JOHN SAWRUK VICE CHAIRMAN 5.00 X X 10100 0 0 JASON ST ONGE DIRECTOR 5.00 X 5600 0 0 MICHAEL HEISE PRESIDENT/CEO 40.00 X 405488 0 97324 PATRICK FRAZIER COO 40.00 X 322903 0 103618 JILLIAN TOMKINSON DIRECTOR OF FINANCE 40.00 X 139383 0 47202 JEFFREY BENOIT LINE FOREMAN 40.00 X 161875 0 45446 JARED KANGAS LINE FOREMAN 40.00 X 160248 0 40837 MATTHEW SHADNAW LINEMAN 40.00 X 158621 0 23526 TYLER WOLLAN LINEMAN 40.00 X 151882 0 28157 DONALD HAGEN LINE FOREMAN 40.00 X 150326 0 54522 1717676 0 440632 87 0 1 0 KOKOSING INDUSTRIAL INC PO BOX 226 FREDERICKTOWN OH 43019 CANAL BANK MAINTENANCE 3787101 ASPLUNDH TREE EXPERT LLC 708 BLAIR MILL ROAD WILLOW GROVE PA 19090 TREE TRIMING 1441598 NORRIS CONTRACTING LLC 4576 SOUTH MACKINAC TRAIL SAULT STE MARIE MI 49783 ENERGY WASTE REDUCTION PROGRAMS 1307564 SLIPSTREAM GROUP INC 431 CATALYST WAY MADISON WI 53719 PAVING AND GRAVEL 1099943 BONACCI CONTRACTING INC 3314 SUN GLO DRIVE SAULT STE MARIE MI 49783 BUILDING DEMOLITION 810000 21 ELECTRIC REVENUE FROM MEMBERS 221000 91255757 91255757 POLE CONTACT FEES 221000 410697 410697 91666454 62222 62222 9000 28880 15744 54090 -6744 -25210 -31954 -25210 -6744 8918 1512023 -1503105 -1503105 -1503105 1630 1871 -241 -241 AMERICAN TRANSMISSION COMPANY K1 221000 661864 661864 CAPITAL CREDITS 221000 418864 418864 OTHER INCOME 900099 33696 33696 1114424 91307800 92369940 -25210 -1036930 X 4273550 1220194 13587390 3014997 2116544 1120088 228143 4407247 7837563 COST OF POWER-PURCHASED 30324455 TRANSMISSION 9883487 DISTRIBUTION-MAINTENANC 9243234 COST OF POWER-PRODUCED 8501793 -3343206 92415479 2500 2500 1058851 2050446 11262550 13149906 5880487 6529381 353378 7402657 258420608 77491001 177652946 180929607 18907573 19774619 5190795 8133145 223251430 235029911 12390696 12777642 685046 1561679 3677 135621309 142671726 2805744 2771863 151502795 159786587 X 193130 200535 2071740 2269994 69483765 72772795 71748635 75243324 223251430 235029911 X -1107679 4602368 X X 0 1 X 1 0 0 1 X 51472 626892 678364 1088346 9194105 4990997 5291454 237514280 72500004 165014276 9945513 9945513 180929607 AMERICAN TRANSMISSION COMPANY, LLC 16118182 C NRUCFC PATRONAGE CAPITAL 263427 C NRUCFC CERTIFICATES 821539 C FEDERATED RURAL ELECTRIC INSURANCE 636142 C COBANK 1010672 C OTHER INVESTMENTS IN ASSOC ORG 786677 C SPECIAL FUNDS - DEFERRED COMP 137980 C 19774619 OTHER POST EMPLOYMENT BENEFITS 467060 DEFERRED COMPENSATION 137980 POWER SUPPLY COST RECOVERY CLAUSE 731867 ENERGY OPTIMIZATION FUNDS 1434956 2771863 X 92045538 737738 737738 91307800 0 91307800 88003681 0 88003681 4411798 4411798 92415479 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 RELEASED TO CLOVERLAND CARES. THE BALANCE AT YEAR END ARE THE RESULT OF A TIMING DIFFERENCE IN THE RECEIPT OF FUNDS FROM MEMBERS AND RELEASE TO CLOVERLAND CARES. PART X, LINE 2: THE COOPERATIVE IS EXEMPT FROM INCOME TAX UNDER SECTION 501(C)(12) OF THE INTERNAL REVENUE CODE. THE COOPERATIVE'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 COOPERATIVE ARE SUBJECT TO EXAMINATION BY THE IRS, GENERALLY FOR THREE YEARS AFTER THEY WERE FILED. ALL REQUIRED FILINGS ARE CURRENT. PART XI, LINE 2D - OTHER ADJUSTMENTS: CANCELLED WORK ORDER EXPENSES -129,762. EXPENSES OF NONOPERATING RENTALS -8,486. BOOK TO TAX DIFFERENCE ON PARTNERSHIP 875,986. PART XII, LINE 4B - OTHER ADJUSTMENTS: CANCELLED WORK ORDER EXPENSES 129,762. EXPENSES OF NONOPERATING RENTALS 8,486. ALLOCATED CAPITAL CREDITS 4,273,550. X X X X X 0 1 0 MICHAEL HEISE PRESIDENT/CEO 372073 0 0 0 33415 0 76440 0 22639 0 504567 0 19621 0 PATRICK FRAZIER COO 318230 0 0 0 4673 0 87242 0 18132 0 428277 0 0 0 JEFFREY BENOIT LINE FOREMAN 161479 0 0 0 396 0 24562 0 21524 0 207961 0 0 0 DONALD HAGEN LINE FOREMAN 149288 0 0 0 1038 0 33639 0 21591 0 205556 0 0 0 JARED KANGAS LINE FOREMAN 158398 0 0 0 1850 0 19953 0 21847 0 202048 0 0 0 JILLIAN TOMKINSON DIRECTOR OF FINANCE 139130 0 0 0 253 0 26319 0 22077 0 187779 0 0 0 MATTHEW SHADNAW LINEMAN 157509 0 0 0 1112 0 16054 0 8391 0 183066 0 0 0 TYLER WOLLAN LINEMAN 151729 0 0 0 153 0 11781 0 17332 0 180995 0 0 0 PART I, LINE 4B MICHAEL HEISE PARTICIPATES IN A 457(B) PLAN. THERE WERE NO CONTRIBUTIONS MADE IN 2024. MICHAEL RECEIVED A $19,621 DISTRIBUTION FROM THE PLAN IN 2024 FOR THE CORRECTION OF AN OVERCONTRIBUTION IN 2023. BONACCI CONTRACTING INC ENTITY MORE THAN 35% OWNED BY CARMINE BONACCI JR - DIRECTOR AND OFFICER 810000 BUILDING DEMOLITION 0 FORM 990, PART VI, SECTION A, LINE 6 THE COOPERATIVE IS OWNED BY ITS MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERS ELECT THE BOARD OF DIRECTORS BY REGION. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED BY THE PRESIDENT/CEO AND CFO. FORM 990, PART VI, SECTION B, LINE 12C THE POLICY IS PROVIDED TO NEW EMPLOYEES UPON HIRE AND IS AVAILABLE TO EMPLOYEES ON VIA THE ORGANIZATION INTRANET. THE BOARD OF DIRECTORS ALSO HAS A POLICY ACCESSABLE VIA ELECTRONIC RECORDS. FORM 990, PART VI, SECTION B, LINE 15 REVIEW OF COMPENSATION SURVEY AND APPROVAL BY THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION C, LINE 19 MADE AVAILABLE BY WRITTEN REQUEST. FORM 990, PART VI, SECTION B, LINE 16B: THE ORGANIZATION DOES NOT HAVE A WRITTEN POLICY REGARDING ITS PARTICIPATION IN AMERICAN TRANSMISSION COMPANY, LLC (ATC). THE ACTIVITIES OF ATC ARE RELATED TO THE COOPERATIVE'S EXEMPT PURPOSE, THEREFORE THE COOPERATIVE DOES NOT BELIEVE ITS PARTICIPATION IN THIS JOINT VENTURE WILL ENDANGER ITS TAX EXEMPT STATUS. FORM 990, PART VII, COLUMN F: INCLUDED IN PART VII, COLUMN "F AND SCHEDULE J, PART II, COLUMN "C" IS THE ESTIMATED ANNUAL INCREASE IN THE ACTUARIAL VALUE OF THE DEFINED BENEFIT PLAN. THIS AMOUNT IS AN ESTIMATE IN THE INCREASE OF THE VALUE OF THE PLAN AND IS NOT A CURRENT YEAR EXPENSE OF THE COOPERATIVE. THE ESTIMATED ACTUARIAL INCREASE FOR EACH OFFICER AND HIGHEST COMPENSATED EMPLOYEE IS: MICHAEL HEISE: $48,840 PATRICK FRAZIER: $61,642 JILLIAN TOMKINSON: $14,959 JEFFREY BENOIT: $17,234 JARED KANGAS: $12,682 MATTHEW SHADNAW: $8,752 TYLER WOLLAN: $4,903 DONALD HAGEN: $26,803 THE CURRENT YEAR EXPENSE IS THE CONTRIBUTION INTO THE DEFINED BENEFIT PLAN. THE CONTRIBUTION FOR EACH OFFICER AND HIGHEST COMPENSATED EMPLOYEE IS: MICHAEL HEISE: $70,346 PATRICK FRAZIER: $60,151 JILLIAN TOMKINSON: $27,567 JEFFREY BENOIT: $18,686 JARED KANGAS: $21,029 MATTHEW SHADNAW: $20,225 TYLER WOLLAN: $20,225 DONALD HAGEN: $21,029 FORM 990, PART IX, LINE 4: BENEFITS PAID TO MEMBERS: 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 IN SCHEDULE O. IN REFERENCE TO FORM 990, 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 IX, LINE 24E: OTHER EXPENSES: THE WAGES, BENEFITS, AND PAYROLL TAXES REPORTED ON LINES 5, 7, 8, 9, AND 10 ARE INCLUDED IN THE TRANSMISSION, DISTRIBUTION, AND OTHER EXPENSES. THEREFORE, THESE AMOUNTS ARE SUBTRACTED OUT AS AN OTHER DEDUCTION ON LINE 24E. THESE PAYROLL EXPENSES ARE NETTED WITH OTHER EXPENSES ON LINE 24E TO ARRIVE AT THE TOTAL SHOWN ON THE RETURN. FORM 990, PART XI, LINE 9: MEMBERSHIPS ISSUED 7,405. RETIREMENT OF CAPITAL CREDITS -839,147. OTHER CHANGES IN EQUITY 284,574. BOOK TO TAX DIFFERENCE ON PARTNERSH 875,986. ALLOCATED CAPITAL CREDITS 4,273,550. FORM 990, PART XII, LINE 2C: THE PROCESS REMAINS UNCHANGED FROM THE PRIOR YEAR. CLOVERLAND CARES 725 EAST PORTAGE AVE SAULT STE MARIE MI 49783 850670727 PROVIDE SCHOLARSHIPS AND FUNDING FOR FOOD BANKS AND SCHOOL PROGRAMS MI 501(C)(3) LINE 10 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 0