2026-05-07T16:50:11-07:00 2025-12-31 990 2025-01-01 390154234 BAYFIELD ELECTRIC COOPERATIVE BAYF 7153724287 PO BOX 68 IRON RIVER WI 54847 Sara Anderson Chief Financial Officer 7153724287 2026-05-07 2025 2025-03-06 01:10:19Z X Sara Anderspm PO Box 68 Iron River WI 54849 16084959 0 X www.bayfieldelectric.com X 1940 WI Electric Energy Distribution 9 9 19 9 0 0 0 0 14939458 15610031 17390 16720 524832 458208 15481680 16084959 0 0 504147 431650 2318081 3183746 0 0 0 12345792 11833523 15168020 15448919 313660 636040 41132999 39921769 26781794 25478885 14351205 14442884 Committed to provide safe, reliable, and affordable electricity to rural areas through superior customer service. 0 0 15448919 16084959 To provide electrical energy to its members 0 0 0 15448919 0 0 0 0 0 0 0 0 0 1 0 0 1 1 0 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 0 0 0 1 18 0 0 19 1 0 0 0 0 0 15907693 177267 0 0 0 X 9 9 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 WI X Sara Anderson 7153724287 68460 District Street Iron River WI 54847 Christopher Kopel CEO 40 0 X X X 249848 0 93429 Robert Lahti Operations Manager 40 0 X 135753 0 64151 Sara Anderson CFO 40 0 X X 135077 0 64046 Amanda Kavajecz Biling Specialist 51.75 0 X 127215 0 50313 Matthew Tarasewicz Lineman 46.59 0 X 128167 0 31914 Braden Stegmann Lineman 51.26 0 X 141705 0 16590 Troy Seeger Line Foreman 46.07 0 X 136250 0 20263 Mark Santikko President 5.81 0 X X 9300 0 0 Curtis Berweger Secretary/Treasurer 4.29 0 X X 7700 0 0 Russell Bailey Vice President 4.96 0 X X 7700 0 0 James Kinzie Director 5.38 0 X 7450 0 0 Barry Radloff Director 4.17 0 X 7450 0 0 Carl Schutte Director 4.58 0 X 7450 0 0 Roy Settgas Director 3.31 0 X 5950 0 0 Michael Neslon Director 2.62 0 X 5200 0 0 Robert Kretzschmar Director 2.52 0 X 4950 0 0 1117165 0 340706 14 0 1 1 Zielie's Tree Service 28190 State Hwy 137 Ashland WI 54806 Right-away clearing 776370 NISC PO BOX 1147 MANDAN ND 58554 Computer Software & Bill Processing 176645 A-1 Power PO Box 90 Bloomer WI 54724 Utility Contractor 182245 Power Systems Engineering Inc 2424 Rimrock Rd Suite 300 Madison WI 53713 Engineering Services 119837 4 0 0 0 0 0 0 0 0 Operating Revenue 221122 15610031 15610031 0 0 0 0 0 0 15610031 16720 16720 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Non-operating Revenue 221122 15333 15333 0 0 Capital Credit Patronage 221122 442875 442875 0 0 0 0 0 0 458208 16084959 16084959 0 0 0 0 0 0 0 0 431650 431650 605550 605550 1760833 1760833 656709 656709 160654 160654 38607 38607 42725 42725 25341 25341 0 999625 999625 1733606 1733606 Gross Revenue Tax 240467 240467 0 0 Cost of Power 7307645 7307645 0 0 Dues to Member Organizations 60496 60496 0 0 Other Administrative & Operational Expenses 1385011 1385011 0 0 15448919 15448919 0 0 1655052 930011 7859 8879 1874329 2020592 1627783 1247156 113897 127399 63486834 35315457 28802966 28171377 7051113 7416355 41132999 39921769 847892 930256 24335112 20748210 1598790 3800419 26781794 25478885 X 42740 42945 0 0 14308465 14399939 14351205 14442884 41132999 39921769 X 636040 0 0 0 0 -544361 X 1 1 0 0 130282 0 130282 5517539 0 1140928 4376611 0 0 0 0 51884094 0 32519485 19364609 5954919 0 1655044 4299875 28171377 Non-utility Property 133753 Investments in Associated Organizations Patronage Capital 6317320 Investments in Associated Organizations - Other Non-General Funds 537158 Other Investments 263676 Deferred Debits - Preliminary Survey Charges 164448 7416355 Consumer Deposits 62515 Accumulated Employee Benefits 287584 Other Current and Accrued Liabilities 581907 Other Deferred Member Credit Balances 108290 Other Deferred Credits 2760123 3800419 X 15610031 0 0 0 0 0 15610031 0 474928 474928 16084959 15448919 0 0 0 0 0 15448919 0 0 0 15448919 Schedule D, Part X, Line 2 The cooperative has evaluated its income tax position and determined that they have no uncertain tax positions that need to be recorded or reported in the financial statements as of December 31, 202 and 2025. Schedule D, Part XI, Line 4b Capital Credits $442,875 plus Non-operating Margins of Interest Income $16,720 plus other non-operating Income of $15,333 for a total of $474,928. X X 0 0 0 Christopher Kopel CEO 249848 0 0 0 0 0 59939 0 33490 0 343277 0 0 0 Amanda Kavajecz Biling Specialist 127215 0 0 0 0 0 22353 0 27959 0 177527 0 0 0 Robert Lahti Operations Manager 135753 0 0 0 0 0 35514 0 28637 0 199904 0 0 0 Sara Anderson CFO 135077 0 0 0 0 0 35412 0 28634 0 199123 0 0 0 Matthew Tarasewicz Lineman 128167 0 0 0 0 0 18606 0 13308 0 160081 0 0 0 Braden Stegmann Lineman 141705 0 0 0 0 0 16065 0 525 0 158295 0 0 0 Troy Seeger Line Foreman 136250 0 0 0 0 0 19617 0 646 0 156513 0 0 0 Schedule J, Part I, Line 3 The board of directors determine the wages of the CEO with the guidance of the labor attorney. Form 990, Part VI, Section A, Line 6 The organization is a cooperative and has memberships. The cooperative association is organized without capital stock and is only one class of members with respect to voting districts. Form 990, Part VI, Section A, Line 7a The members from each district of the cooperative shall elect a director to serve a three-year term commencing at the date of the annual meeting of the members. Each year three of the nine districts are up for re-election. Form 990, Part VI, Section A, Line 7b Each active membership shall be entitled to one vote for the voting needs at the member's annual meeting held with the guidelines of the bylaws each year. Form 990, Part VI, Section B, Line 11b The process used by the organization to review the Form 990 occurs annually, at a board meeting with the entire board will review and discuss the return. Form 990, Part VI, Section B, Line 12c The written conflict of interest policy is reviewed annually at a board meeting. If any board members have a conflict throughout the year, it is their duty to abstain from voting on a matter and notify the board it is due to a conflict. Form 990, Part VI, Section B, Line 15 The process used to determine compensation of the top official and officers is to review the compensation and goals met by personnel and discuss in an executive session of the board. At this time the current board only reviews the CEO compensation. The CEO determines the wages of all other non-union staff. Form 990, Part VI, Section C, Line 19 The organization makes its governing documents, conflicts of interest policy and financial statements available upon request. Form 990, Part XI, Line 9 Includes a total of retirement of patronage capital of -$411,702 a change in memberships of $205 and a change in other comprehensive margins of -132,866 for a total change of -$544,363.00.