2014-06-25T15:51:44-05:00 2013-12-31 391277627 BAUMAN ASSOCIATES LTD PO BOX 1225 EAU CLAIRE WI 547021225 990 2013-01-01 390544115 POLK-BURNETT ELECTRIC COOPERATIVE POLK 8004210283 1001 STATE HIGHWAY 35 CENTURIA WI 548240310 ED GULLICKSON BOARD CHAIRMAN 8004210283 2014-06-05 1 GREGORY D MLEZIVA CPA P00004968 7158342001 2013 2015-11-30 17:44:51Z ED GULLICKSON 1001 STATE HIGHWAY 35 CENTURIA WI 548240310 33473474 0 X WWW.POLKBURNETT.COM X 1938 WI TO PROVIDE ELECTRICITY AND MERCHANDISE TO MEMBERS OF THE COOPERATIVE. 9 9 57 0 21968 0 0 0 32169474 31782007 54772 457228 1119106 1096522 33343352 33335757 0 0 4708244 3828307 265332 276500 0 0 0 28345896 28833242 33319472 32938049 23880 397708 80800495 84380212 45572472 45776340 35228023 38603872 THE MISSION OF POLK-BURNETT IS TO PROVIDE QUALITY SERVICES AND PRODUCTS BENEFICIAL TO OUR MEMBERS, CUSTOMERS AND COMMUNITIES. 0 0 RURAL ELECTRIC COOPERATIVE-SALE OF ELECTRICITY AND MERCHANDISE TO MEMBERS OF THE COOPERATIVE. 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 0 0 0 0 0 0 1 1 1 0 1 23 0 1 57 1 1 1 0 0 0 0 31668090 1780324 0 X 9 9 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 1 0 X X HEATHER GERBER 7156462191 1001 STATE HIGHWAY 35 CENTURIA WI 54824 EDWARD GULLICKSON PRESIDENT 6.00 X 9175 0 0 MICHAEL MORRIS VICE-PRESIDENT 5.00 X 5850 1400 0 CYNTHIA THORMAN SECRETARY-TREASURER 6.00 X 6975 0 0 MARLYN BOTTOLFSON DIRECTOR 3.00 X 4200 1200 0 CHARLES BROOKSHAW DIRECTOR 4.00 X 5050 0 0 JEFFREY PETERSON DIRECTOR 3.00 X 4250 0 0 THOMAS SWENSON DIRECTOR 4.00 X 4900 0 0 ROBERT THORSBAKKEN DIRECTOR 4.00 X 4650 1200 0 JANET MC INROY DIRECTOR 4.00 X 4825 0 0 WILLIAM SCHMIDT GENERAL MANAGER/CEO 50.00 X 167159 0 59466 217034 3800 59466 1 0 1 0 ZIELIE'S TREE SERVICE 1805 MAIN STREET W ASHLAND WI 54806 TREE CUTTING SERVICE 510861 PUSH INC PO BOX 72 RICE LAKE WI 54868 LINE CONSTRUCTION 207332 2 ELECTRIC REVENUE 221000 31782007 31782007 31782007 447309 447309 12000 20831 15469 0 -3469 20831 17362 20831 -3469 9960 41 9919 9919 9919 53098 122207 -69109 -69109 CAPITAL CREDITS 900099 1135209 1135209 ROYALTY INCOME 900099 11923 11923 POWER NET GLOBAL 812900 1137 1137 1148269 33335757 32858026 21968 455763 3828307 276500 1920189 2346800 COST OF POWER 18045196 DISTRIBUTION EXP - MAIN 1994264 ADMINISTRATIVE AND GENE 1816888 DISTRBUTION EXP - OPERA 823019 1886886 32938049 4530230 3981918 2183507 2122154 625368 621409 2614028 4344539 79022672 18471809 58880155 60550863 899464 899464 11058784 11851119 8959 8746 80800495 84380212 3971781 3501062 40920079 40525683 680612 1749595 45572472 45776340 X 0 0 0 0 35228023 38603872 35228023 38603872 80800495 84380212 X 397708 2978141 X X 0 1 X 1 0 233451 233451 6165861 2150636 4015225 6257698 5334597 923101 66365662 10986576 55379086 60550863 PATRONAGE CAPITAL IN ASSOCIATED ORGS 10576458 C CAPITAL TERM CERTIFICATES 1264136 C OTHER PROGRAM RELATED INVESTMENTS 10525 C 11851119 DEFERRED CREDITS 1749595 1749595 X PART X, LINE 2: THE COOPERATIVE HAS BEEN GRANTED TAX EXEMPT STATUS BY THE INTERNAL REVENUE SERVICE AND THE STATE OF WISCONSIN. THE COOPERATIVE WILL RECOGNIZE ANY ACCRUED INTEREST AND PENALTIES RELATED TO UNRECOGNIZED BENEFITS IN INCOME TAX, IF INCURRED. THE COOPERATIVE'S PREVIOUS THREE TAX RETURNS ARE OPEN FOR EXAMINATION BY THE INTERNAL REVENUE SERVICE. POLK-BURNETT DIVERSIFIED SERVICES, INC. AND ITS SUBSIDIARIES POLK-BURNETT PROPANE SERVICES, INC. AND NORTHWESTERN WISCONSIN SECURITY, INC. (DISOLVED IN 2012) AND POLK-BURNETT ECONOMIC DEVELOPMENT CORPORATION ARE TAXABLE AT THE FEDERAL AND STATE LEVEL, AND A PROVISION FOR INCOME TAXES IS INCLUDED IN THE FINANCIAL STATEMENTS. A DEFERRED TAX LIABILITY FOR POLK-BURNETT PROPANE SERVICES, INC. IS RECORDED FOR FUTURE TAX CONSEQUENCES ATTRIBUTABLE TO TEMPORARY DIFFERENCES BETWEEN FINANCIAL STATEMENT CARRYING AMOUNTS OF ASSETS AND LIABILITIES AND THEIR RESPECTIVE TAX BASES. PRINCIPALLY THESE DIFFERENCES RELATE TO DEPRECIATION OF PROPERTY AND EQUIPMENT AND OPERATING LOSS CARRYFORWARDS. X X X 0 0 0 WILLIAM SCHMIDT GENERAL MANAGER/CEO 167159 0 0 0 0 0 50235 0 9231 0 226625 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 ALL CUSTOMERS OF THE COOPERATIVE THAT PURCHASE ELECTRICITY ARE MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A EACH MEMBER OF THE COOPERATIVE HAS THE RIGHT TO ELECT THE BOARD MEMBER WITHIN THE DISTRICT THEY RESIDE. EACH MEMBER HAS ONE VOTE. FORM 990, PART VI, SECTION A, LINE 7B BYLAW AMENDMENTS ADOPTED BY THE BOARD MUST BE PRESENTED TO THE MEMBERS AT THE ORGANIZATION'S ANNUAL MEETING. ANY BOARD DECISION RELATING TO MERGERS, ACQUISITION, OR DISSOLUTION OF THE COOPERATIVE ARE SUBJECT TO MEMBER APPROVAL AT THE ANNUAL MEETING OR AT A SPECIAL MEETING OF THE MEMBERS. FORM 990, PART VI, SECTION B, LINE 11 THE ENTIRE 990 WILL BE UPLOADED ON THE BOARD MEMBER'S IPADS AND REVIEWED PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE POLICY IS ENFORCED WHENEVER NECESSARY AND REVIEWED ON AN ANNUAL BASIS. BOTH THE SYSTEM LEGAL COUNCIL AND GENERAL MANAGER REVIEW THE POLICY AND BRING CHANGES AND/OR AMENDMENTS BEFORE THE BOARD FOR ADOPTION. THE COOPERATIVE BOARD ELECTS A THIRD OF ITS DIRECTORS ANNUALLY. THE ANNUAL REVIEW OF THE POLICY TAKES PLACE EACH JUNE WHICH IS THE FIRST BOARD MEETING AFTER THE ANNUAL BOARD MEMBER ELECTION. ANNUALLY EACH BOARD MEMBER SIGNS A DIRECTOR PLEDGE ACKNOWLEDGING AGREEMENT WITH THE POLICY. FORM 990, PART VI, SECTION B, LINE 15 ALL EMPLOYEE POSITIONS OF THE COOPERATIVE ARE SUBJECT TO A WAGE AND BENEFIT STUDY CONDUCTED BY MRA, AN INDEPENDENT THIRD PARTY LOCATED IN MILWAUKEE, WI. THE STUDY WAS LAST PERFORMED IN 2010. GENERAL MANAGER COMPENSATION IS REVIEWED AND APPROVED BY THE NINE MEMBER COOPERATIVE BOARD. OTHER KEY EMPLOYEES PERFORMANCE AND COMPENSATION ARE REVIEWED AND APPROVED BY THE GENERAL MANAGER. FORM 990, PART VI, SECTION C, LINE 19 THE COOPERATIVE MAKES ITS GOVERNING DOCUMENTS, FINANCIAL STATEMENTS AND CONFLICT OF INTEREST POLICY AVAILABLE THROUGH THEIR WEBSITE. FORM 990, PART XI, LINE 9: RETIREMENT OF CAPITAL CREDITS -850,166. 2013 MARGINS ALLOCATED TO MEMBERS 3,828,307. GAIN FROM SUBSIDIARY FORM 990, PART XII, LINE 2C: THE COOPERATIVE'S BOARD OF DIRECTORS ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF ITS CONSOLIDATED FINANCIAL STATEMENTS AND THE SELECTION OF ITS INDEPENDENT ACCOUNTANT. 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 PAID 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. POLK-BURNETT CHARITIES INC 1001 STATE HIGHWAY 35 CENTURIA WI 54824 391924542 DONATIONS TO COMMUNITY BUSINESSES WI 501(C)(3) LINE 9 POLK-BURNETT ELECTRIC COOPERATIVE 0 POLK-BURNETT ECONOMIC DEVELOPMENT CORPORATION 1001 STATE HIGHWAY 35 CENTURIA WI 54824 391824628 REAL ESTATE DEVELOPMENT WI POLK-BURNETT ELECTRIC COOPERATIVE C -10 7444 1.00000 0 POLK-BURNETT DIVERSIFIED INC 1001 STATE HIGHWAY 35 CENTURIA WI 54824 203540722 HOLDING COMPANY WI POLK-BURNETT ELECTRIC COOPERATIVE C -5253 69762 1.00000 0 POLK-BURNETT PROPANE SERVICES INC 1001 STATE HIGHWAY 35 CENTURIA WI 54824 203460024 PROPANE SALES AND SERVICE WI POLK-BURNETT DIVERSIFIED SERVICES INC C 159301 4110335 1.00000 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 POLK-BURNETT PROPANE SERVICES INC A 12000 ACTUAL PAYMENTS POLK-BURNETT PROPANE SERVICES INC R 2986626 ACTUAL PAYMENTS POLK-BURNETT PROPANE SERVICES INC Q 349955 ACTUAL PAYMENTS POLK-BURNETT CHARITIES INC R 51764 ACTUAL PAYMENTS