2015-10-01T13:45:32-05:00 2014-12-31 450310328 BRADY MARTZ AND ASSOCIATES PC PO BOX 14296 GRAND FORKS ND 582084296 990 2014-01-01 411857633 LAKE COUNTRY POWER LAKE 2187425748 2810 ELIDA DRIVE GRAND RAPIDS MN 55744 GREGORY RANDA GENERAL MANAGER 2187425748 2015-07-28 1 DAVID HOLT P00014251 7017754685 2014 2016-02-25 16:41:14Z GREGORY RANDA 2810 ELIDA DRIVE GRAND RAPIDS MN 55744 93213788 0 X WWW.LAKECOUNTRYPOWER.COOP X 1996 MN TO PROVIDE ELECTRICITY AND OTHER SERVICES TO THE COOPERATIVE'S MEMBERS. 9 7 162 0 89330 78048 0 0 80397096 88518436 375153 587794 3010801 3705360 83783050 92811590 0 0 6707720 6633592 496293 535522 0 0 0 76582061 85612062 83786074 92781176 -3024 30414 267295228 273068348 170963431 172127343 96331797 100941005 STRIVE TO EXCEED THE EXPECTATIONS OF OUR MEMBERS BY PROVIDING SAFE, RELIABLE AND AFFORDABLE ELECTRIC SERVICE. INVEST IN INNOVATIVE SOLUTIONS THAT DEMONSTRATE VALUE, COMMITMENT TO OUR MEMBERS AND THE AREA WE SERVE. 0 0 PROVISION OF ELECTRICITY AND OTHER SERVICES TO THE COOPERATIVE'S 43,000 MEMBERS. 0 0 0 0 0 0 0 0 0 1 0 1 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 1 0 0 0 0 0 1 1 1 0 1 54 0 162 1 1 1 0 0 0 0 88518436 1275945 0 X 9 7 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X MARK BAKK CPA 2187425748 8535 PARK RIDGE DRIVE MOUNTAIN IRON MN 55768 GEORGE HARVEY SECRETARY 6.20 X X 13600 0 0 DONALD SIMONS TREASURER 8.90 X X 14800 0 0 ROBERT BRUCKBAUER DIRECTOR 9.70 X 13050 0 0 SHERMAN LIIMATAINEN DIRECTOR 4.60 X 11050 0 0 DALE LONG PRESIDENT 12.30 X X 12500 0 0 CRAIG OLSON VICE PRESIDENT 10.40 X X 13150 0 0 CRAIG CARLSON DIRECTOR 5.50 X 13100 0 0 SCOTT MAGIE DIRECTOR 8.10 X 9250 0 0 DAN SMITH DIRECTOR 7.90 X 13700 0 0 GREGORY RANDA GENERAL MANAGER 50.00 X 196759 0 192703 MARK BAKK DIRECTOR OF FINANCE 50.00 X 136822 0 12153 JEFFREY THIEL JOURNEYMAN LINEMAN 57.90 X 154144 0 27193 MARK POHTO JOURNEYMAN LINEMAN 56.10 X 146240 0 41571 STEVEN SERTICH DIRECTOR OF HR AND IT 50.00 X 191520 0 12114 CRAIG SISTAD JOURNEYMAN LINEMAN 53.40 X 139919 0 21973 MICHAEL BIRKELAND DIRECTOR OF MEMBER SVCS/PUBLIC 50.00 X 134784 0 40424 1214388 0 348131 36 0 1 0 NORTHERN CLEARING INC 1805 MAIN ST WEST ASHLAND WI 54806 RIGHT OF WAY CLEARING 1999547 NATIONAL INFORMATION SOLUTIONS COOPERATI 3201 NYGREN DR PO BOX 1147 MANDAN ND 58554 SOFTWARE SUPPORT 552226 TREES INC 1700 SOLUTIONS CENTER CHICAGO IL 606771700 RIGHT OF WAY CLEARING 235745 CITI LITES 30694 OLSON ST PO BOX 440 PEQUOT LAKES MN 56472 LOCATING SERVICES 194862 HAWK CONSTRUCTION 1833 WEST HIGHWAY 2 GRAND RAPIDS MN 55744 CONSTRUCTION 185372 8 ELECTRIC SALES 221000 88518436 88518436 88518436 459935 459935 278325 150466 127859 127859 127859 211146 251732 -40586 -40586 CAPITAL CREDITS 900099 3608245 3608245 NCB, LLC K-1 517000 129916 129916 OTHER NON-OPERATING INCOME 900099 7785 7785 3745946 92811590 92134466 89330 587794 X 6633592 535522 98065 6090850 8722617 TAXES 80565 COST OF POWER 48968952 DIST EXP - MAINTENANCE 9351744 ADMIN & GENERAL EXPENSE 4831565 7467704 92781176 5848331 4708185 9909330 9841791 3256413 3336612 2821500 2620721 294508266 87810151 203241561 206698115 4494336 5019291 37723757 40843633 267295228 273068348 14123049 13530304 2411061 217695 153800206 157687758 629115 691586 170963431 172127343 X 0 0 0 0 96331797 100941005 96331797 100941005 267295228 273068348 X 30414 4578794 X 0 1 X 1 0 2196645 2196645 10904622 3065866 7838756 19694489 13223503 6470986 261712510 71520782 190191728 206698115 GREAT RIVER ENERGY - PATR CAP 33132288 C NRUCFC - CAPITAL TERM CERTS 2319711 C NRTC - PATRONAGE CAPITAL 1321417 C NRUCFC - PATRONAGE CAPITAL 707774 C RESCO - PATRONAGE CAPITAL 1078213 C ECONOMIC DEVELOPMENT LOANS 624541 C OTHER PROGRAM RELATED 1498987 C NISC - PATRONAGE CAPITAL 160702 C 40843633 CONSUMER DEPOSITS 691586 691586 X PART X, LINE 2: THE COMPANY'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 COMPANY ARE SUBJECT TO EXAMINATION BY THE IRS, GENERALLY FOR THREE YEARS AFTER THEY WERE FILED. X X X X 0 0 0 GREGORY RANDA GENERAL MANAGER 196759 0 0 0 0 0 177606 0 15097 0 389462 0 0 0 JEFFREY THIEL JOURNEYMAN LINEMAN 154144 0 0 0 0 0 8407 0 18786 0 181337 0 0 0 MARK POHTO JOURNEYMAN LINEMAN 146240 0 0 0 0 0 26832 0 14739 0 187811 0 0 0 STEVEN SERTICH DIRECTOR OF HR AND IT 191520 0 0 0 0 0 2320 0 9794 0 203634 0 0 0 CRAIG SISTAD JOURNEYMAN LINEMAN 139919 0 0 0 0 0 7294 0 14679 0 161892 0 0 0 MICHAEL BIRKELAND DIRECTOR OF MEMBER SVCS/PUBLIC 134784 0 0 0 0 0 25117 0 15307 0 175208 0 0 0 FORM 990, SCHEDULE J, PART II, COLUMN (C) INCLUDED IN SCHEDULE J, PART II, COLUMN "C", DEFERRED COMPENSATION, IS THE ESTIMATED ANNUAL INCREASE IN THE ACTUARIAL VALUE OF THE DEFINED BENEFIT PLAN. FOR THE FOLLOWING INDIVIDUALS, THE ESTIMATED INCREASE IS: GREGORY RANDA: $173,634 JEFFREY THIEL: $0 MARK POHTO: $25,157 CRAIG SISTAD: $0 STEVEN SERTICH: $0 MICHAEL BIRKELAND: $22,362 THESE AMOUNTS ARE ESTIMATES IN THE INCREASE OF THE VALUE OF THE PLAN AND ARE NOT CURRENT YEAR EXPENSES OF THE COOPERATIVE. CURRENT YEAR CONTRIBUTIONS INTO THE DEFINED BENEFIT PLAN WERE: GREGORY RANDA: $38,836 JEFFREY THIEL: $0 MARK POHTO: $16,430 CRAIG SISTAD: $0 STEVEN SERTICH: $29,361 MICHAEL BIRKELAND: $27,445 GREAT RIVER ENERGY DALE J. LONG REPRESENTS THE COOP. ON THE GREAT RIVER ENERGY BOARD 49230788 PURCHASE OF ELECTRICITY FROM THE ORGANIZATION'S POWER SUPPLIER 0 GREAT RIVER ENERGY ROBERT BRUCKBAUER REPRESENTS THE COOP. ON THE GREAT RIVER ENERGY BOARD 49230788 PURCHASE OF ELECTRICITY FROM THE ORGANIZATION'S POWER SUPPLIER 0 FORM 990, PART VI, SECTION A, LINE 6 THE COOPERATIVE HAS ONE CLASS OF MEMBERS. ALL ELECTRIC CUSTOMERS BECOME MEMBERS WHEN THEIR ELECTRIC SERVICE IS ESTABLISHED. MEMBERS ARE RESPONSIBLE FOR ELECTING THE BOARD OF DIRECTORS, RECEIVE ALLOCATIONS OF THE COOPERATIVE'S NET INCOME, AND MAY AMEND THE ARTICLES OF INCORPORATION OR BY-LAWS. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERS OF THE COOPERATIVE ARE RESPONSIBLE FOR ELECTING RESPRESENTATIVES TO SERVE ON THE BOARD OF DIRECTORS. THE COOPERATIVE'S SERVICE TERRITORY IS DIVIDED INTO NINE DISTRICTS AND EACH DISTRICT HAS ONE REPRESENTATIVE ON THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 7B THE MEMBERS MAY ALTER, AMEND, OR REPEAL THE BY-LAWS OF THE COOPERATIVE. FORM 990, PART VI, SECTION B, LINE 11 EACH MEMBER OF THE BOARD OF DIRECTORS WILL RECEIVE A COPY OF THE FORM 990 PRIOR TO FILING OF THE RETURN. THE BOARD WILL REVIEW AND APPROVE THE FILING OF THE RETURN. IN ADDITION, MANAGEMENT WILL PERFORM A DETAILED REVIEW OF THE RETURN IN ADVANCE OF ITS FILING. FORM 990, PART VI, SECTION B, LINE 12C THE COOPERATIVE'S CONFLICT OF INTEREST POLICY APPLIES TO DIRECTORS, OFFICERS, AND OTHER SENIOR MANAGEMENT. DIRECTORS COMPLETE CONFLICT OF INTEREST DISCLOSURE STATEMENTS ANNUALLY AT THE TIME OF THE BOARD REORGANIZATION. OFFICERS AND OTHER SENIOR MANAGEMENT COMPLETE A "CONFLICT OF INTEREST DISCLOSURE STATEMENT" UPON HIRING. STATEMENTS ARE REVIEWED BY HUMAN RESOURCES AT THAT TIME. SHOULD A CONFLICT ARISE AFTER HIRING, THE DIRECTOR, OFFICER, OR OTHER SENIOR MANAGEMENT IS RESPONSIBLE FOR DISCLOSING THE CONFLICT TO THE BOARD OF DIRECTORS. THE BOARD SHALL DETERMINE THE EXTENT AND NATURE OF ANY ACTUAL OR APPARENT CONFLICT OF INTEREST AND DECIDE WHAT ACTION IS TO BE TAKEN WITH RESPECT TO THE CONFLICT. ACTIONS AVAILABLE AT THE BOARD'S DISCRETION INCLUDE REQUIRING DIVESTITURE OF PROPERTY, IMPOSING CONDITIONS AND RESTRICTIONS, OR REQUIRING RESIGNATION OF THE DIRECTOR, OFFICER, OR EMPLOYEE. FORM 990, PART VI, SECTION B, LINE 15 THE SALARY OF THE CEO/GENERAL MANAGER IS APPROVED ANNUALLY BY THE BOARD OF DIRECTORS. THIS WAS LAST PERFORMED IN 2014. WAGE RATES FOR UNION EMPLOYEES ARE DETERMINED THROUGH NEGOTIATIONS, WITH THE FINAL CONTRACT BEING APPROVED BY THE BOARD OF DIRECTORS. THE CONTRACT WAS LAST NEGOTIATED IN 2013. NON-UNION EMPLOYEES ARE REVIEWED ANNUALLY THROUGH A PROCESS THAT INCLUDES AN EVALUATION OF JOB PERFORMANCE, AN ANNUAL EMPLOYEE APPRAISAL, AND AN APPROVED RANGE OF WAGE INCREASES BASED ON A POLICY APPROVED BY THE BOARD OF DIRECTORS. THIS PROCESS WAS LAST COMPLETED IN 2013. FORM 990, PART VI, SECTION C, LINE 19 THE COOPERATIVE MAKES ITS GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY AVAILABLE UPON REQUEST. FINANCIAL STATEMENT INFORMATION IS INCLUDED IN THE COOPERATIVE'S ANNUAL REPORT. FORM 990, PART IX, LINE 4 PATRONAGE DIVIDENDS PAID: 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: BOOK TO TAX DIFFERENCE FROM K-1 -30,415. BOOK TO TAX DIFFERENCE - EARNINGS FROM TAXABLE SUBSIDIARY 524,955. RETIREMENT OF CAPITAL CREDITS -3,129,841. DONATED CAPITAL 364,540. RETIRED CAPITAL CREDITS GAIN 215,963. OTHER RETAINED MARGINS ALLOCATED CAPITAL CREDITS 6,633,592. LAKE COUNTRY POWER ELECTRIC TRUST 2810 ELIDA DRIVE GRAND RAPIDS MN 55744 206179494 COMMUNITY TRUST MN 501(C)(3) 11B 1 LAKE COUNTRY POWER HOLDINGS INC 2810 ELIDA DRIVE GRAND RAPIDS MN 55744 411977064 HOLDING COMPANY MN N/A C 1.00000 1 LAKE STATES TREE SERVICE INC 25172 COMMERCIAL DRIVE GRAND RAPIDS MN 55744 410810558 TREE TRIMMING MN LAKE COUNTRY POWER HOLDINGS INC C 1.00000 1 LAKE STATES CONSTRUCTION INC 25172 COMMERCIAL DRIVE GRAND RAPIDS MN 55744 411367401 CONSTRUCTION OF ELECTRICAL SYSTEMS MN LAKE COUNTRY POWER HOLDINGS INC C 1.00000 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 LAKE STATES TREE SERVICE INC M 3087130 TOTAL PAID TO LSTS LAKE STATES CONSTRUCTION INC M 2157038 TOTAL PAID TO LSC LAKE COUNTRY POWER ELECTRIC TRUST R 161545 CASH TRANSFERRED