2015-07-31T12:21:52-05:00 2014-12-31 450250958 EIDE BAILLY LLP 200 EAST 10TH ST PO BOX 5125 SIOUX FALLS SD 571175125 990 2014-01-01 410560428 AGRALITE ELECTRIC COOPERATIVE AGRA 3208434150 PO BOX 228 BENSON MN 56215 HAROLD JACOBSON PRESIDENT 3208434150 2015-06-26 1 LAURIE HANSON P00851848 6053391999 2015-06-26 2014 2016-02-25 16:41:14Z HAROLD JACOBSON PO BOX 228 BENSON MN 56215 22299491 0 X WWW.AGRALITE.COOP X 1939 MN DISTRIBUTE ELECTRICITY TO MEMBERSHIP. 7 7 34 0 212391 157427 0 0 21654810 21835472 158185 188218 -4919 -15987 21808076 22007703 7798 1761 899013 1214351 2895582 2812039 0 0 0 17210650 17623991 21013043 21652142 795033 355561 46428214 48287532 25161802 26177692 21266412 22109840 DISTRIBUTE ELECTRICITY TO MEMBERSHIP. 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 60 0 1 34 1 1 1 0 0 0 0 0 0 21542595 320482 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 6.00 X X 7350 0 0 WARREN RAU VICE PRESIDENT 6.00 X X 9000 0 0 ANNETTE STELZIG SECRETARY-TREASURER(UNTIL JUNE 2014) 6.00 X X 2900 0 0 ORVIN GRONSETH SECRETARY-TREASURER 6.00 X X 9700 0 0 HAROLD JACOBSON DIRECTOR 6.00 X X 11250 0 0 JEFF HUFFORD DIRECTOR 6.00 X 7700 0 0 BENNET ZIERKE DIRECTOR 6.00 X 6900 0 0 ANDREA THOMSON DIRECTOR (BEGAN JUNE OF 2014) 6.00 X 5050 0 0 KORWIN JOHNSON GENERAL MANAGER 50.00 X 185960 0 59443 245810 0 59443 1 0 1 0 STAR ENERGY SERVICES 6875 CO RD 28 SW ALEXANDRIA MN 56308 ENGINEERING AND SAFETY 425869 CARR'S TREE SERVICE PO BOX 250 OTTERAIL MN 56571 RIGHT OF WAY TREE CLEARING 258678 MASTEC PO BOX 277181 ATLANTA GA 30384 POWER LINE INSTALL 155504 3 SALE OF POWER 221000 20926063 20926063 CAPITAL CREDITS 221000 710616 710616 EQUITY EARNINGS 561499 198793 201513 -2720 21835472 169890 169890 18328 0 18328 18328 18328 275801 291788 -15987 -26865 10878 22007703 21609814 212391 185498 1761 1214351 304885 2007528 336100 163526 1140097 1875556 UBI TAX 5849 COST OF POWER 13086454 DISTRIBUTION-MAINTENANC 1238204 DISTRIBUTION-OPERATIONS 1096992 -819161 21652142 2493903 3577053 271149 63781 2075229 1874348 618839 641982 125598 180764 61033250 27308150 33299921 33725100 420255 426526 7070435 7739418 24092 24092 28793 34468 46428214 48287532 2691597 2637859 47550 44328 4576 4477 22309632 23435704 108447 55324 25161802 26177692 X 21266412 22109840 21266412 22109840 46428214 48287532 X 355561 487867 X 0 1 X 1 0 0 1 X 110343 110343 887493 589277 298216 3469018 2936702 532316 56566396 23782171 32784225 33725100 GREAT RIVER ENERGY 6214966 C NATIONAL RURAL UTILITIES COOP. FINANCE CORP. 543659 C EAST RIVER ELECTRIC POWER COOPERATIVE, INC 465191 C COBANK, PATRONAGE CAPITAL 123055 C SWIFT COOPERATIVE OIL CO. PATRONAGE CAPITAL 60160 C FEDERATED RURAL ELECTRIC INSURANCE EXCHANGE 80472 C RURAL ELECTRIC SUPPLY COOPERATIVE 160000 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 15984 C RURAL ELECTRIC ECONOMIC DEVELOPMENT 50000 C OTHER 12426 C 7739418 CONSUMER DEPOSITS 55324 55324 X 22007703 0 22007703 0 22007703 20437791 0 20437791 1214351 1214351 21652142 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. GENERALLY, THE COOPERATIVE IS NO LONGER SUBJECT TO FEDERAL TAX EXAMINATIONS BY TAX AUTHORITIES FOR YEARS BEFORE 2011. PART XII, LINE 4B - OTHER ADJUSTMENTS: ALLOCATION OF 2014 MARGINS TO MEMBERS IN 2015 1,214,351. X X 0 0 0 KORWIN JOHNSON GENERAL MANAGER 179638 0 5000 0 1322 0 46099 0 17175 0 249234 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. 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, 2014. 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 2014 MARGINS TO MEMBERS IN 2015 1,214,351. RETIREMENT OF CAPITAL CREDITS -848,267. CHANGE IN OTHER EQUITIES 121,783. 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