2016-07-29T09:05:03-05:00 2015-12-31 450250958 EIDE BAILLY LLP 200 EAST 10TH ST PO BOX 5125 SIOUX FALLS SD 571175125 990 2015-01-01 410560428 AGRALITE ELECTRIC COOPERATIVE AGRA 3208434150 PO BOX 228 BENSON MN 56215 ORVIN GRONSETH PRESIDENT 3208434150 2016-07-15 1 LAURIE HANSON P00851848 6053391999 2016-07-15 2015 2016-12-15 16:53:06Z ORVIN GRONSETH PO BOX 228 BENSON MN 56215 21485811 0 X WWW.AGRALITE.COOP X 1939 MN DISTRIBUTE ELECTRICITY TO MEMBERSHIP. 7 7 32 0 132688 55748 0 0 21835472 21083318 188218 244236 -15987 -120893 22007703 21206661 1761 5889 1214351 775018 2812039 2884628 0 0 0 17623991 17257987 21652142 20923522 355561 283139 48287532 50570650 26177692 28161414 22109840 22409236 TO PROVIDE SAFE, RELIABLE ELECTRIC SERVICE AND OTHER RELATED PRODUCTS TO IMPROVE THE QUALITY OF LIFE IN OUR REGION. 0 0 DISTRIBUTE ELECTRIC POWER TO APPROXIMATELY 5,000 MEMBERS. 0 0 0 0 0 0 0 1 0 1 0 1 0 1 1 1 0 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 0 0 1 65 0 1 32 1 1 1 0 0 0 0 20932897 461365 0 X 7 7 0 0 0 0 1 1 1 1 0 0 0 1 1 0 1 0 0 1 0 1 0 X JENNY STRYHN 3208434150 320 E HWY 12 BENSON MN 56215 X ELDON KNUTSON PRESIDENT JAN-JUNE 6.00 X X 3350 0 0 HAROLD JACOBSON DIRECTOR JAN-JUNE/PRESIDENT JULY-DEC 6.00 X X 11850 0 0 WARREN RAU VICE PRESIDENT 6.00 X X 9900 0 0 ORVIN GRONSETH SECRETARY-TREASURER 6.00 X X 10650 0 0 KATHY DRAEGER DIRECTOR JUNE-DEC 6.00 X 4650 0 0 JEFF HUFFORD DIRECTOR 6.00 X 8050 0 0 BENNET ZIERKE DIRECTOR 6.00 X 7700 0 0 ANDREA THOMSON DIRECTOR 6.00 X 8050 0 0 KORWIN JOHNSON GENERAL MANAGER 50.00 X 188504 0 67739 JENNY STRYHN FINANCE MANAGER 45.00 X 83714 0 25238 THOMAS HOFFMAN ENG & OPS MANAGER 45.00 X 109449 0 55878 445867 0 148855 2 0 1 0 STAR ENERGY SERVICES 6875 CO RD 28 SW ALEXANDRIA MN 56308 ENGINEERING AND SAFETY 414261 MASTEC PO BOX 277181 ATLANTA GA 30384 POWER LINE INSTALL 193508 CARR'S TREE SERVICE PO BOX 250 OTTERAIL MN 56571 RIGHT OF WAY TREE CLEARING 143318 3 SALE OF POWER 221000 20515838 20515838 CAPITAL CREDITS 221000 467033 467033 EQUITY EARNINGS 561499 90447 134458 -44011 OTHER NON-OPERATING 221000 10000 10000 21083318 227786 227786 21257 4807 16450 16450 16450 153450 274343 -120893 -119123 -1770 21206661 20873748 132688 200225 5889 775018 428129 1987105 300895 168499 1198998 2036872 UBI TAX 81957 COST OF POWER 12361575 DISTRIBUTION-OPERATIONS 1228891 DISTRIBUTION-MAINTENANC 1208804 -859110 20923522 3577053 4259185 63781 0 1874348 1812101 941669 641982 627161 180764 148578 62539633 28396673 33725100 34142960 426526 443479 7739418 8131517 24092 24092 34468 39908 48287532 50570650 2637859 2593356 44328 67781 4477 4509 23435704 25440091 55324 55677 26177692 28161414 X 22109840 22409236 22109840 22409236 48287532 50570650 X 283139 16257 X 0 1 X 1 0 0 1 X 110817 110817 981505 602878 378627 3516101 2794260 721841 57931210 24999535 32931675 34142960 GREAT RIVER ENERGY 6489900 C NATIONAL RURAL UTILITIES COOP. FINANCE CORP. 542695 C EAST RIVER ELECTRIC POWER COOPERATIVE, INC 580639 C COBANK, PATRONAGE CAPITAL 117122 C SWIFT COOPERATIVE OIL CO. PATRONAGE CAPITAL 60466 C FEDERATED RURAL ELECTRIC INSURANCE EXCHANGE 92629 C RURAL ELECTRIC SUPPLY COOPERATIVE 156329 C CHIPPEWA VALLEY AGRAFUELS COOP. PATRONAGE CAPITAL 10005 C NATIONAL RURAL TELECOMMUNICATIONS COOP. MEMBERSHIP 1000 C COOPERATIVE RESPONSE CENTER, MEMBERSHIP 2500 C NATIONAL INFORMATION SOLUTIONS COOPERATIVE, PATRONAGE CAPITAL 18507 C RURAL ELECTRIC ECONOMIC DEVELOPMENT 50000 C OTHER 9725 C 8131517 CONSUMER DEPOSITS 55677 55677 X 21206661 0 21206661 0 21206661 20148504 0 20148504 775018 775018 20923522 PART IV, LINE 2B: THE COOPERATIVE RECEIVES CONTRIBUTIONS FROM MEMBERS FOR AGRALITE ELECTRIC TRUST, AN OPERATION ROUNDUP PROGRAM. THE COOPERATIVE TRANSFERS THE CONTRIBUTIONS TO THE TRUST QUARTERLY IN JANUARY, MARCH, JULY AND OCTOBER. PART X, LINE 2: THE COOPERATIVE IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(12) OF THE INTERNAL REVENUE CODE. THE COOPERATIVE IS SUBJECT TO INCOME TAX ON ITS UNRELATED BUSINESS INCOME. THE COOPERATIVE BELIEVES IT HAS APPROPRIATE SUPPORT FOR ANY TAX POSITIONS TAKEN AFFECTING ITS ANNUAL FILING REQUIREMENTS, AND AS SUCH, DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS THAT ARE MATERIAL TO THE FINANCIAL STATEMENTS. THE COOPERATIVE WOULD RECOGNIZE FUTURE ACCRUED INTEREST AND PENALTIES RELATED TO UNRECOGNIZED TAX BENEFITS IN INCOME TAX EXPENSE IF SUCH INTEREST AND PENALTIES ARE INCURRED. PART XII, LINE 4B - OTHER ADJUSTMENTS: ALLOCATION OF 2015 MARGINS TO MEMBERS IN 2016 775,018. X X 0 0 0 KORWIN JOHNSON GENERAL MANAGER 186356 0 0 0 2148 0 56627 0 15111 0 260242 0 0 0 THOMAS HOFFMAN ENG & OPS MANAGER 108560 0 0 0 889 0 39467 0 18221 0 167137 0 0 0 EXPLANATION OF AMOUNT REPORTED IN PART II, COLUMN (C) INCLUDED IN OTHER COMPENSATION IS THE ESTIMATED CURRENT YEAR INCREASE OR DECREASE IN THE ACTUARIAL VALUE OF THE DEFINED BENEFIT PLAN FOR THE GENERAL MANAGER. THE CURRENT YEAR INCREASE OR DECREASE DOES NOT REPRESENT CURRENT YEAR CONTRIBUTIONS TO THE PLAN. RATHER, IT IS AN ESTIMATE OF THE INCREASE OR DECREASE IN THE ACTUARIAL VALUE OF THE PLAN AS CALCULATED BY THE PLAN ADMINISTRATOR. THE CURRENT YEAR CHANGE IN ACTUARIAL VALUE FOR MR. JOHNSON IS $50,896. THE COOPERATIVES CURRENT YEAR EXPENSE IS $34,713. FORM 990, PART VI, SECTION A, LINE 6 SUBSTANTIALLY ALL CUSTOMERS OF THE COOPERATIVE ARE MEMBERS. EACH MEMBER HAS ONE VOTE. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERSHIP ELECTS THE BOARD OF DIRECTORS. THERE IS ONE CLASS OF MEMBERSHIP. FORM 990, PART VI, SECTION A, LINE 7B THE MEMBERSHIP MUST APPROVE CHANGES TO THE BY-LAWS. FORM 990, PART VI, SECTION A, LINE 8B THE COOPERATIVE HAS NO COMMITTEES WITH BROAD AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11 THE BOARD OF DIRECTORS RECEIVE A COPY OF FORM 990 BEFORE IT IS FILED. THE FORM IS REVIEWED AND APPROVED DURING A MONTHLY BOARD MEETING. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY APPLIES TO BOARD MEMBERS, THE GENERAL MANAGER, AND ALL EMPLOYEES. AS POTENTIAL CONFLICTS ARISE, MANAGEMENT MAKES INQUIRIES AND DETERMINES IF A CONFLICT EXISTS. MANAGEMENT IS RESPONSIBLE FOR THE HANDLING OF ALL CONFLICTS. FORM 990, PART VI, SECTION B, LINE 15A THE GENERAL MANAGER'S SALARY IS COMPARED TO OTHER COOPERATIVES THROUGH INDUSTRY SURVERYS AND APPROVED BY THE BOARD OF DIRECTORS. THIS PROCESS WAS LAST UNDERTAKEN ON NOVEMBER 1, 2015. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL DOCUMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART VII, COLUMN F, OTHER COMPENSATION INCLUDED IN OTHER COMPENSATION IS THE ESTIMATED CURRENT YEAR INCREASE OR DECREASE IN THE ACTUARIAL VALUE OF THE DEFINED BENEFIT PLAN FOR THE GENERAL MANAGER. THE CURRENT YEAR INCREASE OR DECREASE DOES NOT REPRESENT CURRENT YEAR CONTRIBUTIONS TO THE PLAN. RATHER, IT IS AN ESTIMATE OF THE INCREASE OR DECREASE IN THE ACTUARIAL VALUE OF THE PLAN AS CALCULATED BY THE PLAN ADMINISTRATOR. FORM 990, PART XI, LINE 9: ALLOCATION OF 2015 MARGINS TO MEMBERS IN 2016 775,018. RETIREMENT OF CAPITAL CREDITS -820,600. CHANGE IN OTHER EQUITIES 61,839. FORM 990, PART IX, LINE 4 STATEMENT OF FUNCTIONAL EXPENSES: 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, STATEMENT OF FUNCTIONAL EXPENSES: THE LABOR, PENSION AND PAYROLL TAXES REPORTED ON LINES 6-10 ARE INCLUDED IN DISTRIBUTION EXPENSE, ADMINISTRATIVE & GENERAL EXPENSE AND CUSTOMER EXPENSE. THEREFORE, LABOR, PENSION AND PAYROLL TAXES ARE SHOWN AS A REDUCTION TO OTHER EXPENSES ON LINE 24E. AGRALITE ELECTRIC TRUST PO BOX 228 BENSON MN 56215 411731852 CHARITABLE MN 501(C)(3) LINE 7 AGRALITE ELECTRIC COOPERATIVE 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 1 0