2017-03-30T10:43:13-05:00 2016-12-31 BKD LLP 1201 Walnut Suite 1700 Kansas City MO 641062246 990 2016-01-01 421378565 MIDLAND POWER COOPERATIVE % JEFF BROPHY MIDL 5153864111 1005 E LINCOLN WAY JEFFERSON IA 50129 JACK RUNGE PRESIDENT 5153864111 2017-05-15 true Kevin Ensminger CPA P01310558 8162216300 64.22.227.161 43372220170895000034 2017-03-30 P DB1F27599D63D016C4D6F8B7B8119982672D8AA1 DB1F27599D63D016C4D6F8B7B8119982672D8AA1 2016 2021-01-29 14:40:06Z JACK RUNGE 1005 E LINCOLN WAY JEFFERSON IA 50129 50011280 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 50 0 17325 0 0 44799982 49054886 169763 196362 1467781 369552 46437526 49620800 0 0 1000000 2463860 391883 431587 0 0 0 42483811 44163616 43875694 47059063 2561832 2561737 100368615 108839577 57267906 61559005 43100709 47280572 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 true 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 63 0 true 50 true true true false false false false 45767593 4243687 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 11000 0 16 TOM ROSS VICE PRESIDENT 5.0 0.0 X X 6500 0 12 RANDY CHRISTENSEN SECRETARY 3.0 0.0 X X 5100 0 25 MICHAEL COLEMAN TREASURER 4.0 0.0 X X 6850 0 16 RICK THOMPSON ASST SECRETARY/TREASURER 4.0 0.0 X X 5950 0 16 EARL CHECK DIRECTOR 2.0 0.0 X 5250 0 5 CHARLES GILBERT DIRECTOR 4.0 0.0 X 5300 0 16 PAUL HEINEMAN DIRECTOR 3.0 0.0 X 4200 0 16 TOM INGEBRITSON DIRECTOR 3.0 0.0 X 4900 0 11 KIM RINKER DIRECTOR 4.0 0.0 X 5750 0 16 JOEL SKOW DIRECTOR 5.0 0.0 X 7100 0 16 JAMES WEIGEL DIRECTOR 3.0 0.0 X 5500 0 16 KEVIN RASMUSSEN DIRECTOR - TO 06/30/16 2.0 0.0 X 2650 0 9 JIM MARSO DIRECTOR - TO 06/30/16 1.0 0.0 X 2700 0 9 BILL MCKIM CEO 40.0 0.0 X 195761 0 32898 JEFF BROPHY VP OF FINANCE 40.0 0.0 X 98129 0 26049 BRUCE KEENEY MANAGER 40.0 0.0 X 110446 0 24020 483086 0 83166 2 false true false LEGACY POWER LINE INC 12822 HWY 10 WADENA MN 56482 OH LINE REBUILD 1741905 NORTH CENTRAL LINE SERVICE LTD PO BOX 86 ALTA IA 51002 OH LINE REBUILD 979648 WATTS ELECTRIC COMPANY 13351 DOVERS STREET WAVERLY NE 68462 OH LINE REBUILD 767783 ASPLUNDH TREE EXPERT CO 708 BLAIR MILL ROAD WILLOW GROVE IA 19090 LINE MAINTENANCE 208408 CENTRAL IOWA TREE CARE 508 CRAWFORD ST BOONE IA 50036 LINE MAINTENANCE 150853 5 0 SALE OF POWER 221000 45385252 45385252 CAPITAL CREDITS 900099 3643491 3643491 MONITORING SERVICES 517000 12826 12826 ENVIROWATCH MONITORING 517000 13317 13317 49054886 155512 155512 0 0 1210 0 1210 1210 1210 40850 40850 40850 40850 0 0 272204 390480 -118276 -122284 4008 MISCELLANEOUS REVENUE 900099 486618 486618 486618 49620800 48920495 17325 682980 0 0 0 2463860 431587 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1751456 0 3076656 0 COST OF POWER 33008524 DIST EXP - MAINTENANCE 2203584 DIST EXP - OPERATIONS 1362402 DIST EXP - OTHER 1496137 1264857 47059063 536820 331370 3802172 4050855 0 0 5134453 5124933 0 0 0 0 410000 410000 1469657 1365306 1798144 1449073 113978805 36248643 71733142 77730162 0 0 0 0 15415810 18309461 54780 54780 13637 13637 100368615 108839577 4901576 4894999 0 0 892590 1000000 0 0 0 0 0 0 50579474 54614596 0 0 894266 1049410 57267906 61559005 X 0 0 0 0 43100709 47280572 43100709 47280572 100368615 108839577 X 2561737 1618126 X false true X true false 305857 305857 7456378 3214322 4242056 95114691 32433809 62680882 11101879 600512 10501367 77730162 CORNBELT PATRONAGE CAPITAL 10034066 C FEDERAL ECONOMIC DEVELOP LOANS 2761814 C CIPCO- PATRONAGE CAPITAL 2686317 C NRUCFC CAPITAL TERM CERT 1165366 C SPECIAL FUNDS REVOLVING LOANS 660312 C NRUCFC- PATRONAGE CAPITAL 327442 C OTHER INVESTMENTS 674144 C 18309461 0 ACCRUED POST RETIREMENT BENEFITS 636267 CONSUMER DEPOSITS 163152 OTHER LIABILITIES 249991 1049410 49620800 49620800 49620800 44595203 44595203 2463860 2463860 47059063 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 XII, LINE 4B ALLOCATED PATRONAGE DIVIDENDS $ 2,463,860 X X false false false BILL MCKIM CEO 195184 0 0 0 577 0 11591 0 21307 0 228659 0 0 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 RETIREMENT OF CAPITAL CREDITS $ ( 974,219) CHANGES IN OTHER EQUITIES 128,485 PATRONAGE ALLOCATION 2,463,860 ----------- TOTAL $ 1,618,126