2025-11-10T10:10:05-06:00 2024-12-31 450310328 BRADY MARTZ & ASSOCIATES PC PO BOX 14296 GRAND FORKS ND 582084296 990 2024-01-01 410266055 FREEBORN MOWER ELECTRIC COOPERATIVE FREE 5073736421 3366 BRIDGE AVE ALBERT LEA MN 56007 JIM KRUEGER CEO/PRESIDENT 5073736421 2025-11-06 1 1 DAVID HOLT P00014251 7017754685 2025-10-21 2024 2025-03-06 01:10:19Z 3366 BRIDGE AVE ALBERT LEA MN 56007 60844050 0 X WWW.FMEC.COOP X 1936 MN PROVIDE ELECTRIC POWER TO THE MEMBERS OF THE COOPERATIVE WHICH CONSISTS OF APPROXIMATELY 17,765 MEMBERS. 9 9 70 0 40990 21783 0 0 59790857 58546080 138353 114118 1727673 1606513 61656883 60266711 0 37550 2625751 3004503 419240 520247 0 0 0 56840013 56531540 59885004 60093840 1771879 172871 151110003 159183214 104103861 110235417 47006142 48947797 PROVIDE ELECTRIC POWER TO THE MEMBERS OF THE COOPERATIVE WHICH CONSISTS OF APPROXIMATELY 17,765 MEMBERS. 0 0 PROVIDE ELECTRIC POWER TO THE MEMBERS OF THE COOPERATIVE WHICH CONSISTS OF APPROXIMATELY 17,765 MEMBERS. 0 0 0 0 0 0 0 0 0 1 0 1 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 1 326 0 1 70 1 1 1 0 0 0 0 58546079 1939160 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 ANGIE KOLKER DIRECTOR OF FINANCE 5073798859 PO BOX 611 ALBERT LEA MN 56007 X JOHN JACK KORMAN BOARD CHAIR 8.00 X 23760 0 0 STEVE GARBISCH TREASURER 3.00 X 20897 0 0 MATT MARAS DIRECTOR 6.00 X 20067 0 0 DENNIS ANDERSON VICE CHAIRMAN 4.00 X 19860 0 0 FRANK FRYER SECRETARY 3.00 X 20879 0 0 LARRY IRVINE DIRECTOR 4.00 X 19515 0 0 WILLIAM TRYGSTAD DIRECTOR 5.00 X 18276 0 0 RICHARD SCHAUFLER DIRECTOR 10.00 X 25523 0 0 JAY NEITZELL DIRECTOR 3.00 X 16882 0 0 JAMES KRUEGER PRESIDENT/CEO 45.00 X 244078 0 90431 NICHOLAS ROLFING SERVICE REPRESENTATIVE 48.00 X 146369 0 15117 JACK KORTAN MANAGER OF OPERATIONS 40.00 X 141353 0 82433 BRAD DEVRIES WORKING FOREMAN 50.00 X 152113 0 40542 AL STADHEIM DIRECTOR OF ENGIN & OPERATIONS 40.00 X 170297 0 63073 AL CASTERTON WORKING FOREMAN 48.00 X 135715 0 63494 1175584 0 355090 30 0 1 0 ASPLUNDH TREE EXPERT CO 1700 SOLUTIONS CENTER CHICAGO IL 606771700 TREE TRIMMING 1259971 E & J UNDERGROUND LLC 15305 HILLSIDE LN SE CHATFIELD MN 55923 DIRECTIONAL BORING 945546 NISC PO BOX 117 MANDAN ND 58554 SOFTWARE SUPPORT & MAINT; BILLING, PRINT 400653 PREFERRED MASONRY LLC 301 S BROADWAY ALDEN MN 56009 CONCRETE WORK IN BACK LOT OF WAREHOUSE 211744 USIC LOCATING SERVICES LLC PO BOX 715409 CINCINNATI OH 45271 UTILITY LOCATES 171553 7 SALE OF POWER 221000 58546080 58546080 58546080 204683 204683 345894 40278 343792 132945 2102 -92667 -90565 -90565 114005 100602 13403 13403 CAPITAL CREDITS 900099 1547760 1547760 HEARTLAND SECURITY SERVICES, LLC 900099 37111 31619 5492 MINNESOTA THREE LLC #46-2958241 900099 4766 -4032 8798 3473 3473 1593110 60266711 60097313 40990 128408 X 37550 3004503 520247 2858563 4604836 COST OF POWER 38416855 DISTRIBUTION EXPENSE - 2906896 DISTRIBUTION EXPENSE - 2814263 ADMINISTRATION & GENERA 2212399 2717728 60093840 465824 2146302 483812 489791 6364100 6164638 2587429 2768174 1071478 1038835 154446289 29207712 119674026 125238577 2538010 2912692 920202 917061 17005122 17507144 151110003 159183214 5941752 6503981 97329068 100623689 2000000 833041 1107747 104103861 110235417 X 0 0 0 0 47006142 48947797 47006142 48947797 151110003 159183214 X 172871 185226 1583558 X X 0 1 X 1 0 590957 590957 15618863 1494705 14124158 14982074 4605964 10376110 123254395 23107043 100147352 125238577 PATRONAGE CAPITAL IN ASSOCIATED ORGS 14541363 C CAPITAL TERM CERTIFICATES 740780 C ECONOMIC DEVELOPMENT LOANS 1446928 C SOUTHERN MINNESOTA ENERGY COOPERATIVE 732302 C OTHER PROGRAM RELATED INVESTMENTS 45771 C 17507144 DEFERRED CREDITS 1071351 DEFERRED TAXES 36396 1107747 X 60440434 185226 -11503 173723 60266711 0 60266711 57089336 0 57089336 3004504 3004504 60093840 PART X, LINE 2: THE COOPERATIVE IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(12) OF THE INTERNAL REVENUE CODE. HOWEVER, INCOME FROM UNRELATED BUSINESS ACTIVITIES IS SUBJECT TO INCOME TAX AT NORMAL CORPORATE RATES. 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. THE COOPERATIVE IS CURRENT ON ALL REQUIRED TAX FILINGS. PART XI, LINE 2D - OTHER ADJUSTMENTS: INCOME TAX BENEFIT (EXPENSE) 3,515. PARTNERSHIP INCOME BOOK VS. TAX DIFFERENCES MINNESOTA THREE LLC -24,764. PARTNERSHIP INCOME BOOK VS. TAX DIFFERENCES HEARTLAND SECURITY SERVICES LLC 9,746. PART XII, LINE 4B - OTHER ADJUSTMENTS: PATRONAGE DIVIDENDS ALLOCATED 3,004,503. BOOK TO TAX ROUNDING DIFFERENCE 1. 1 RIVERLAND COMMUNITY COLLEGE FOUNDATION 1900 8TH AVE NW AUSTIN MN 55912 411286409 501(C)(3) 30000 0 SUPPORT OF PROJECT CONVERTING A TRUCK TO AN ELECTRIC VEHICLE 1 PART I, LINE 2: THE COOPERATIVE DONATES TO SELECTED CHARITIES. IF APPLICATIONS ARE RECEIVED, THEY ARE REVIEWED AND APPROVED BY THE EXECUTIVE TEAM. THE COOPERATIVE DOES NOT FOLLOW UP ON THE USE OF FUNDS. X X X X 0 0 0 JAMES KRUEGER PRESIDENT/CEO 234978 0 200 0 8900 0 65573 0 26872 0 336523 0 0 0 AL STADHEIM DIRECTOR OF ENGIN & OPERATIONS 168584 0 200 0 1513 0 38214 0 25673 0 234184 0 0 0 JACK KORTAN MANAGER OF OPERATIONS 137913 0 200 0 3240 0 57575 0 26107 0 225035 0 0 0 AL CASTERTON WORKING FOREMAN 134373 0 200 0 1142 0 38636 0 25803 0 200154 0 0 0 BRAD DEVRIES WORKING FOREMAN 151377 0 200 0 536 0 15684 0 25803 0 193600 0 0 0 NICHOLAS ROLFING SERVICE REPRESENTATIVE 145505 0 200 0 664 0 15117 0 902 0 162388 0 0 0 SCHEDULE J, PART II, COLUMN C INCLUDED IN COLUMN "C", DEFERRED COMPENSATION, IS THE ESTIMATED ANNUAL INCREASE (DECREASE) IN THE ACTUARIAL VALUE OF THE DEFINED BENEFIT PLAN. FOR THE FOLLOWING INDIVIDUALS, THE ESTIMATED INCREASE (DECREASE) IS: JAMES KRUEGER: $41,943 AL CASTERTON: $27,366 JACK KORTAN: $43,361 BRAD DEVRIES: $5,004 AL STADHEIM: $21,010 NICHOLAS ROLFING: $4,950 THESE AMOUNTS ARE ESTIMATES IN THE INCREASE (DECREASE) OF THE VALUE OF THE PLAN AND ARE NOT CURRENT YEAR EXPENSES OF THE COOPERATIVE. FORM 990, PART VI, SECTION A, LINE 6 EACH MEMBER IS A CONSUMER OF THE COOPERATIVE. FORM 990, PART VI, SECTION A, LINE 7A THERE IS ONLY ONE CLASS OF VOTING MEMBERSHIP AND EACH MEMBER IS ALLOWED ONE VOTE. FORM 990, PART VI, SECTION A, LINE 7B THE VOTING MEMBERS OF THE COOPERATIVE APPROVE ANY AMENDMENTS TO THE BYLAWS GOVERNING THE COOPERATIVE. THE GOVERNING BODY OF THE COOPERATIVE ADHERES TO THIS GOVERNING DOCUMENT. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED BY THE BOARD AND MANAGEMENT TEAM PRIOR TO ITS FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C AN ANNUAL COMPLIANCE CERTIFICATION IS COMPLETED BY EACH BOARD MEMBER, OFFICER, AND KEY EMPLOYEE. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF DIRECTORS WILL USE NATIONAL, REGIONAL, AND STATE DATA TO DETERMINE THE NEW ANNUAL SALARY FOR THE PRESIDENT/CEO. THE BOARD OF DIRECTORS WILL ALSO UTILIZE THE NATIONAL COMP. STUDY CONDUCTED ANNUALLY BY NRECA AS A GUIDE. EACH NON-UNION EMPLOYEE COMPLETES AN EVALUATION FORM WHICH IS REVIEWED ANNUALLY WITH THEIR SUPERVISOR. WAGE INCREASES ARE BASED UPON PERFORMANCE ANNUALLY. THE UNION EMPLOYEES' WAGE INCREASE IS BASED ON THE UNION CONTRACT. BOTH OF THESE PROCESSES WERE USED DURING THE CURRENT TAX YEAR. FORM 990, PART VI, SECTION C, LINE 19 THE COOPERATIVE MAKES ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE UPON REQUEST AT THE COOPERATIVE. FORM 990, PART VII, SECTION A, LINE 1A: INCLUDED IN PART VII, SECTION A, LINE 1A, COLUMN F, IS THE ESTIMATED ANNUAL INCREASE IN THE ACTUARIAL VALUE OF THE DEFINED BENEFIT PLAN. THIS AMOUNT IS AN ESTIMATE OF THE INCREASE OF THE VALUE OF THE PLAN AND IS NOT A CURRENT YEAR EXPENSE OF THE COOPERATIVE. CURRENT YEAR CONTRIBUTIONS INTO THE DEFINED BENEFIT PLAN ARE A CURRENT YEAR EXPENSE AND ARE INCLUDED IN PART IX AS SUCH. FORM 990, PART IX, LINE 4 AS REQUIRED BY FORM 990 INSTRUCTIONS, FORM 990, PART IX, LINE 4 (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 ON SCHEDULE D PARTS XI AND XIII. IN REFERENCE TO 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 XI, LINE 9: HEARTLAND SECURITY SERVICES, LLC K- 9,746. MINNESOTA THREE LLC K-1 -24,764. PATRONAGE DIVIDENDS ALLOCATED 3,004,503. INCOME TAX BENEFITS 3,515. CAPITAL CREDITS RETIRED -1,409,442. FORM 990, PART XII, LINE 2C OVERSIGHT PROCESS OF THE AUDIT AND SELECTION PROCESS OF THE INDEPENDENT AUDITORS HAS NOT CHANGED FROM THE PRIOR YEAR. FREEBORN MOWER OPERATION ROUND-UP 3366 BRIDGE AVE ALBERT LEA MN 56007 208772314 COMMUNITY TRUST MN 501(C)(3) 7 FREEBORN MOWER ELECTRIC COOPERATIVE 1 MINNESOTA THREE LLC 1775 LAKE SHADY AVE SOUTH ORONOCO MN 55960 462958241 SOLAR GENERATION PLANT MN FREEBORN MOWER ELECTRIC COOPERATIVE UNRELATED 4766 353448 0 1 0.33330 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 FREEBORN MOWER OPERATION ROUND-UP R 101896 CASH TRANSFERRED