2013-08-07T15:38:34-05:00 2012-12-31 450310328 BRADY MARTZ AND ASSOCIATES PC PO BOX 14296 GRAND FORKS ND 582084296 990 2012-01-01 410419150 MINNESOTA VALLEY ELECTRIC COOPERATIVE MINN 9524922313 125 MINNESOTA VALLEY ELECTRIC DRIVE JORDAN MN 55352 GERALD MARECK 9524922313 2013-07-25 1 DAVID HOLT P00014251 7017754685 2012 2016-02-24 21:20:13Z ROGER GECKLER 125 MINNESOTA VALLEY ELECTRIC DRIVE JORDAN MN 55352 72077861 0 X WWW.MVEC.NET X 1937 MN PROVIDE ELECTRIC SERVICE TO MEMBERS 9 9 84 0 372960 0 0 0 67158409 68470596 221008 255646 2033438 3329570 69412855 72055812 0 0 2870604 4047386 1641335 673897 0 0 0 64454631 66869655 68966570 71590938 446285 464874 137188201 143290562 84883111 87792749 52305090 55497813 PROVIDE ELECTRIC SERVICE TO MEMBERS 0 0 PROVIDE ELECTRIC SERVICE TO 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 0 0 1 0 0 0 0 0 1 0 0 0 0 0 1 0 0 1 153 0 84 1 1 1 0 0 0 0 68397904 3707449 0 X 9 9 0 0 0 0 1 1 1 1 0 0 0 1 1 1 1 1 1 1 1 1 0 MN X GERALD MARECK 9524922313 125 MINNESOTA VALLEY ELECTRIC DRIVE JORDAN MN 55352 X MICHELLE MORRISON 9.00 X X 17570 0 0 ROBERT HAUER 9.00 X X 12465 0 0 THOMAS WOLF 9.00 X X 11745 0 0 THOMAS GRAHAM 7.00 X 8662 0 3600 JAMES CONNELLY 7.00 X 10225 0 0 DEBORAH ERICKSON 7.00 X 14140 0 0 GORDON BATES 7.00 X 5910 0 0 FRANCES BARTEN 7.00 X 7725 0 0 WILLIAM HEINLEIN 7.00 X 7965 0 0 BRENT LAWRENCE 7.00 X 7605 0 0 ROGER GECKLER 40.00 X 300363 0 89102 GERALD MARECK 40.00 X 128809 0 58311 MARVIN DENZER 40.00 X 145507 0 46611 RYAN HENTGES 40.00 X 140275 0 29962 DARYL HOFFMAN 40.00 X 113963 0 91708 TERRI BAKKEN 40.00 X 108480 0 21613 STEVE WELLENS 45.00 X 104312 0 49553 1145721 0 390460 11 0 1 0 CARR'S TREE SERVICE INC PO BOX 250 OTTERTAIL MN 565710250 TREE TRIMMING 942462 DONLIE UNDERGROUND INC 10210 235TH ST W LAKEVILLE MN 55044 UNDERGROUND INSTALLATION 785672 HEARTLAND SERVICES LLC PO BOX 330 ROCKFORD MN 553730330 ENGINEERING 633343 POWERHOUSE ELECTRIC INC 1958 RASPBERRY LANE SHAKOPEE MN 553794583 METER INSTALLS 557460 NATIONAL INFORMATION SOLUTIONS COOPERATI 3201 NYGREN DR MANDAN ND 585541480 SOFTWARE SUPPORT, DATA PROCESSING SVCS 556242 6 CONSUMER ELECTRIC SALE 900099 68451895 68451895 POLE RENTALS 900099 18701 18701 68470596 234453 234453 43242 22049 21193 21193 21193 CAPITAL CREDITS 900099 2949430 2949430 PARTNERSHIP INCOME 230000 543421 543421 PAYMENTS FOR ANNEXED AREAS 900099 7180 7180 -170461 -170461 3329570 72055812 71408505 372960 274347 X 4047386 673897 3421996 COST OF POWER 48887433 GENERAL AND ADMINISTRAT 2917795 DISTRIBUTION EXPENSE - 2892550 INTEREST ON LONG-TERM D 2865134 5884747 71590938 536724 836336 6000000 8100000 8598731 8194110 549443 452887 1167696 1451522 201941 480489 123906152 28540670 94640510 95365482 25305119 28229439 188037 180297 137188201 143290562 10972240 11149639 67061987 69738292 6848884 6904818 84883111 87792749 X 0 0 0 0 52305090 55497813 52305090 55497813 137188201 143290562 X 464874 2727849 X 0 1 X 1 1 1 1521105 1521105 5169164 1710206 3458958 7272876 5836314 1436562 109943007 20994150 88948857 95365482 GREAT RIVER ENERGY/COOP POWER ASSOC 20748072 C NRUCFC CAPITAL TERM CERTIFICATES 831300 C FEDERATED ACQUISITIONS, LLC 1035194 C OTHER INVESTMENTS 2027759 C BASIN ELECTRIC 2087114 C CFC MEMBER CAPITAL CERTIFICATE 1500000 C 28229439 CUSTOMER DEPOSITS 887103 UNLOCATED PATRONS 484471 DEFERRED SALES TAX REFUND 113559 DEFERRED STABILIZATION 5132600 C&I REFUNDABLE DEPOSITS 285059 MISC UNCLAIMED PROPERTY 2026 6904818 X 71631797 -424015 -424015 72055812 0 72055812 67543552 -4047386 -4047386 71590938 0 71590938 DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X, LINE 2: THE COOPERATIVE IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES UNDER 501(C)(12) OF THE INTERNAL REVENUE CODE. 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. PART XI, LINE 2D - OTHER ADJUSTMENTS: PARTNERSHIP INCOME - BOOK VS. TAX DIFFERENCES PART XII, LINE 2D - OTHER ADJUSTMENTS: ALLOCATED CAPITAL CREDITS X X X X 0 1 0 ROGER GECKLER 300363 0 0 0 0 0 74784 0 14318 0 389465 0 0 0 GERALD MARECK 127545 0 1264 0 0 0 44510 0 13801 0 187120 0 0 0 MARVIN DENZER 144154 0 1353 0 0 0 32748 0 13863 0 192118 0 0 0 RYAN HENTGES 134300 0 5975 0 0 0 16108 0 13854 0 170237 0 0 0 DARYL HOFFMAN 112864 0 1099 0 0 0 78021 0 13687 0 205671 0 0 0 STEVE WELLENS 103698 0 614 0 0 0 42512 0 7041 0 153865 0 0 0 PART I, LINE 4B ROGER GECKLER - $5,400 AND $20,400 HEARTLAND SERVICES LLC ENTITY FOR WHICH ROGER GECKLER, GENERAL MANAGER, WAS SERVING AS DIRECTOR 515817 LABOR AND EXPENSE REIMBURSEMENT AND ENGINEERING SERVICES 0 NATIONAL INFORMATION SOLUTIONS COOPERATIVE (NISC) ENTITY FOR WHICH ROGER GECKLER, GENERAL MANAGER, WAS SERVING AS DIRECTOR 556242 SOFTWARE SUPPORT AND DATA PROCESSING SERVICES 0 FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION IS A MEMBER OWNED COOPERATIVE. FORM 990, PART VI, SECTION A, LINE 7A THERE IS ONE CLASS OF MEMBERSHIP AND MEMBERS ELECT THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 7B THE MEMBERS VOTE ON SIGNIFICANT ISSUES AT THE ANNUAL MEMBERSHIP MEETINGS. EACH MEMBER HAS ONE VOTE PER ISSUE. FORM 990, PART VI, SECTION A, LINE 8B THERE ARE NO COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 11 THE 990 WAS GIVEN TO EACH DIRECTOR AND THE GENERAL MANAGER FOR REVIEW PRIOR TO FILING WITH THE IRS. THE REVIEW WAS CONDUCTED INDIVIDUALLY. FORM 990, PART VI, SECTION B, LINE 12C CONFLICTS OF INTEREST ARE DISCLOSED ANNUALLY BY THE BOARD OF DIRECTORS. MONITORING OCCURS THROUGHOUT THE YEAR THROUGH THE NORMAL REVIEW/PROCESSING OF CASH DISBURSEMENTS; REVIEWING OF MONTHLY FINANCIAL STATEMENTS; WITH THE EMPLOYEE ANNUAL REVIEW PROCESS; AND THROUGH ADHERENCE TO THE COMPANY POLICY ON BUSINESS ETHICS/CONFLICT OF INTEREST. ANNUAL DISCLOSURES ARE REVIEWED BY THE VICE PRESIDENT OF FINANCE. FORM 990, PART VI, SECTION B, LINE 15 GENERAL MANAGER - AN INDEPENDENT CONSULTANT WAS RETAINED TO APPRAISE THE PERFORMANCE AND GATHER COMPENSATION DATA. FOLLOWING THE REVIEW OF DATA, COMPENSATION WAS DETERMINED AND APPROVED BY THE BOARD. OTHER OFFICERS & KEY EMPLOYEES - ANNUAL PERFORMANCE REVIEWS ARE COMPLETED ALONG WITH WAGE AND SALARY ADJUSTMENTS. PAY TABLES ARE ADJUSTED FROM TIME TO TIME BASED ON MARKET CONDITIONS. AN OUTSIDE CONSULTANT WAS USED TO ESTABLISH THE INITIAL PAY PLAN. THE COOPERATIVE FOLLOWS EMPLOYEE POLICY #E-08 REGARDING COMPENSATION PRACTICES FOR NON-UNION PERSONNEL. THE UNION PERSONNEL COMPENSATION IS BASED ON THE COLLECTIVE BARGAINING AGREEMENT. FORM 990, PART VI, SECTION C, LINE 19 DOCUMENTS ARE PROVIDED UPON REQUEST. ESTIMATED ANNUAL INCREASE IN ACTUARIAL VALUE OF THE DEFINED BENEFIT PLAN: 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. CURRENT YEAR CONTRIBUTION AMOUNTS ARE INCLUDED IN THE ESTIMATED ANNUAL INCREASE IN THE ACTUARIAL VALUE OF THE DEFINED BENEFIT PLAN. PATRONAGE DIVIDENDS PAID 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. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 9: PARTNERSHIP INCOME - BOOK VS. TAX DIFFERENCES -424,015. EQUITY CAPITAL CREDITS RETIRED -895,522. ALLOCATED CAPITAL CREDITS 4,047,386. JOINT VENTURE POLICY FORM 990, PART VI, SECTION B, LINE 16B THE COOPERATIVE'S POLICY REGARDING PARTICIPATION IN JOINT VENTURES IS NOT WRITTEN. HOWEVER, THE COOPERATIVE PERFORMS AN 85% TEST ON AN ANNUAL BASIS TO ENSURE THAT IT MAINTAINS ITS TAX EXEMPT STATUS, AND THE OTHER JOINT VENTURE MEMBER IS ALSO A COOPERATIVE. ADDITIONALLY, THE JOINT VENTURE ARRANGEMENT IS REVIEWED AND MONITORED BY THE BOARD OF DIRECTORS. MINNESOTA VALLEY ELECTRIC TRUST 125 MINNESOTA VALLEY ELECTRIC DRIVE JORDAN MN 55352 411821090 COLLECT & DISBURSE FUNDS FOR CHARITABLE AND EDUCATIONAL PURPOSES MN 501(C)(3) 7 N/A 0 HEARTLAND SERVICES LLC 6800 ELECTRIC DRIVE PO BOX 330 ROCKFORD MN 553730330 411913777 ENGINEERING, SAFETY, POWER SUPPLY & ADMINISTRATION MN N/A UNRELATED 548592 -76071 0 1 0.50000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 HEARTLAND SERVICES LLC P 515817 LABOR & EXPENSE REIMBURSEMENT MINNESOTA VALLEY ELECTRIC TRUST R 99143 MEMBER BILLING ROUND UP