2011-11-15T09:12:52-06:00 2010-12-31 BRADY MARTZ AND ASSOCIATES PC PO BOX 14296 GRAND FORKS ND 582084296 990 2010-01-01 411857633 LAKE COUNTRY POWER LAKE 2187425748 2810 ELIDA DRIVE GRAND RAPIDS MN 55744 RICHARD LEMONDS 2187425748 2011-09-15 1 DAVID HOLT 7017754685 2010 2016-02-24 21:20:13Z RICHARD LEMONDS 2810 ELIDA DRIVE GRAND RAPIDS MN 55744 73763576 0 X WWW.LAKECOUNTRYPOWER.COOP X 1996 MN TO PROVIDE ELECTRICITY AND OTHER SERVICES TO THE COOPERATIVE'S MEMBERS. 9 7 154 0 336437 295935 0 0 69339833 70759759 162358 164074 2790009 2586187 72292200 73510020 0 0 0 0 551290 541394 0 0 0 65748561 68355302 66299851 68896696 5992349 4613324 226489041 238635340 145077194 153533844 81411847 85101496 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 42,500 MEMBERS. 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 0 0 1 51 0 154 1 1 1 0 0 0 0 70759759 1858248 0 X 9 7 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 1 0 X MARK BAKK CPA 2187425748 8535 PARK RIDGE DRIVE MOUNTAIN IRON MN 55768 CHARLES MISTEK 8.00 X X 4850 0 0 DANNY SMITH 8.00 X X 3950 0 0 DONALD SIMONS 8.00 X X 12850 0 0 CARTER PETTERSON 7.00 X X 13500 0 0 SHERMAN LIIMATAINEN 10.00 X 14000 0 0 ROBERT BRUCKBAUER 9.00 X 14300 0 0 DONOVAN STRONG 8.00 X 11000 0 0 GEORGE HARVEY 7.00 X 13200 0 0 RICHARD WALLIN 7.00 X 12400 0 0 JACK HUHTA 11.00 X 7800 0 0 JAMES HUHTA 14.00 X 7800 0 0 RICHARD LEMONDS 50.00 X 216010 0 48462 DEEANNE NEWVILLE 50.00 X 134921 0 26351 STEVE SERTICH 50.00 X 135649 0 50942 CRAIG SISTAD 58.50 X 133250 0 19581 JEFFREY THIEL 58.60 X 141800 0 19634 BRIAN GRONDAHL 55.90 X 124535 0 21471 TRAVIS SHAW 55.00 X 123940 0 22028 1125755 0 208469 17 0 1 0 UNITED SERVICES GROUP 12300 ELM CREEK BLVD N MAPLE GROVE MN 553694718 ENGINEERING AND MATERIALS 637956 NATIONAL INFORMATION SOLUTIONS COOPERATI PO BOX 958588 SAINT LOUIS MO 631958588 SOFTWARE SUPPORT 507323 CITI LITES PO BOX 440 PEQUOT LAKES MN 564720440 LOCATING SERVICES 206298 CW TECHNOLOGY 5614 GRAND AVE DULUTH MN 558072540 IT EQUIPMENT & SUPPORT 186496 PROSOURCE TECHNOLOGIES 9219 E RIVER RD NW MINNEAPOLIS MN 554435722 ENGINEERING 181432 6 ELECTRIC SALES 221000 70759759 70759759 70759759 183759 183759 27172 46857 -19685 -19685 -19685 179621 206699 -27078 -27078 CAPITAL CREDITS 900099 2249457 2249457 NCB, LLC K-1 517000 363515 363515 OTHER NON-OPERATING IN 900099 293 293 2613265 73510020 73009509 336437 164074 541394 5888098 7010283 COST OF POWER 37560945 DIST EXP - MAINTENANCE 6042437 ADMIN & GENERAL EXPENSE 4603521 DIST EXP - OPERATIONS 3303072 SALES EXPENSE 1862489 2084457 68896696 2956606 3341159 9175200 9190369 3539973 3271207 223541 272394 252808824 64280499 179101077 188528325 3833744 4187582 27658900 29844304 226489041 238635340 11807220 12132492 1801958 1031164 117508929 113803397 13500000 25926699 459087 640092 145077194 153533844 X 0 0 0 0 81411847 85101496 81411847 85101496 226489041 238635340 X 4613324 -923675 X 0 1 1 X 0 1000201 1000201 10658173 1889618 8768555 19332429 10879610 8452819 221818021 51511271 170306750 188528325 GREAT RIVER ENERGY - PATR CAP 23505036 C NRUCFC - CAPITAL TERM CERTS 2328745 C NRTC - PATRONAGE CAPITAL 1274227 C NRUCFC - PATRONAGE CAPITAL 502224 C RESCO - PATRONAGE CAPITAL 1064185 C ECONOMIC DEVELOPMENT LOANS 266624 C OTHER PROGRAM RELATED 903263 C 29844304 CONSUMER DEPOSITS 640092 640092 DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: 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. X X X X 0 0 0 RICHARD LEMONDS 216010 0 0 0 0 0 34237 0 14225 0 264472 0 0 0 DEEANNE NEWVILLE 134921 0 0 0 0 0 12583 0 13768 0 161272 0 0 0 STEVE SERTICH 135649 0 0 0 0 0 37150 0 13792 0 186591 0 0 0 CRAIG SISTAD 133250 0 0 0 0 0 6612 0 12969 0 152831 0 0 0 JEFFREY THIEL 141800 0 0 0 0 0 6664 0 12970 0 161434 0 0 0 PART I, LINE 1A SUPPLEMENTAL INFORMATION PART III 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: RICHARD LEMONDS: $31,160 DEEANNE NEWVILLE: $10,507 STEVE SERTICH: $35,028 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: RICHARD LEMONDS: $46,768 DEEANNE NEWVILLE: $33,442 STEVE SERTICH: $34,195 GREAT RIVER ENERGY SHERMAN LIIMATAINEN REPRESENTS THE COOP. ON THE GREAT RIVER ENERGY BOARD 37413666 PURCHASE OF ELECTRICITY FROM THE ORGANIZATION'S POWER SUPPLIER 0 GREAT RIVER ENERGY ROBERT BRUCKBAUER REPRESENTS THE COOP. ON THE GREAT RIVER ENERGY BOARD 37413666 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 2010. 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 2007. 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 2010. 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. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: BOOK TO TAX DIFFERENCE FROM K-1 -26,272. BOOK TO TAX DIFFERENCE - EARNINGS FROM TAXABLE SUBSIDIARY 353,838. RETIREMENT OF CAPITAL CREDITS -1,850,770. DONATED CAPITAL 294,448. RETIRED CAPITAL CREDITS GAIN 305,020. OTHER RETAINED MARGINS 70. OTHER ADJUSTMENT -9. TOTAL TO FORM 990, PART XI, LINE 5: -923,675. LAKE COUNTRY POWER ELECTRIC TRUST 2810 ELIDA DRIVE GRAND RAPIDS MN 55744 206179494 COMMUNITY TRUST MN 501(C)(3) 11B N/A 0 LAKE COUNTRY POWER HOLDINGS INC 2810 ELIDA DRIVE GRAND RAPIDS MN 55744 411977064 HOLDING COMPANY MN N/A C 353838 7531010 1.00000 LAKE STATES TREE SERVICE INC 25172 COMMERCIAL DRIVE GRAND RAPIDS MN 55744 410810558 TREE TRIMMING MN LAKE COUNTRY POWER HOLDINGS INC C 251920 4632519 1.00000 LAKE STATES CONSTRUCTION INC 25172 COMMERCIAL DRIVE GRAND RAPIDS MN 55744 411367401 CONSTRUCTION OF ELECTRICAL SYSTEMS MN LAKE COUNTRY POWER HOLDINGS INC C 143967 2139722 1.00000 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 LAKE STATES TREE SERVICE INC L 3625909 LAKE STATES CONSTRUCTION INC L 1975188 LAKE COUNTRY POWER ELECTRIC TRUST Q 167067