Civic Intelligence

Brown County Rural Electrical Association

990 • Fiscal year 2020 • EIN 41-0167135

Jan 01, 2020 to Dec 31, 2020 • Filed on Oct 29, 2021

Organization ProfileWWW.BROWNCOUNTYREA.COOP
PO Box 529Sleepy Eye, MN 56085-0529

(507) 794-3331

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

69th percentile

0.57x

Higher debt load relative to assets than 69% of similar nonprofits.

2020 filings • 501(c)12 • $25M-$50M nonprofits • Source year 2020

Liabilities / Revenue

54th percentile

1.54x

Higher debt load relative to revenue than 54% of similar nonprofits.

2020 filings • 501(c)12 • $25M-$50M nonprofits • Source year 2020

Net Margin

42nd percentile

0.5%

Higher net margin than 42% of similar nonprofits.

2020 filings • 501(c)12 • $25M-$50M nonprofits • Source year 2020

Top Officer Pay

62nd percentile

$230,197

Higher top officer pay than 62% of similar nonprofits.

Top officer pay equals 1.4% of source-year revenue.

2020 filings • 501(c)12 • $25M-$50M nonprofits • Source year 2020

Asset Growth

81st percentile

7.1%

Faster asset growth than 81% of similar nonprofits.

2020 filings • 501(c)12 • $25M-$50M nonprofits • Annualized from 2019 to 2020

Revenue Growth

69th percentile

4.3%

Faster revenue growth than 69% of similar nonprofits.

2020 filings • 501(c)12 • $25M-$50M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets69th percentile

Assets

Up

$43,369,853

Up $2,884,726 (+7.1%) from 2019

Net Assets

Up

$18,704,532

Up $1,608,188 (+9.4%) from 2019

Liabilities

Up

$24,665,321

Up $1,276,538 (+5.5%) from 2019

Revenue And Expenses
Liabilities / Revenue54th percentileNet Margin42nd percentile

Revenue

Up

$16,066,825

Up $665,873 (+4.3%) from 2019

Expenses

Up

$15,992,493

Up $591,540 (+3.8%) from 2019

Net Income

Up

$74,332

Up $74,333 (+7433300%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth81st percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$60M$40M$20M$0Assets 2010: $27,273,556Liabilities 2010: $15,249,891Net Assets 2010: $12,023,6652010Assets 2011: $27,789,353Liabilities 2011: $15,591,631Net Assets 2011: $12,197,7222011Assets 2012: $29,632,203Liabilities 2012: $17,033,967Net Assets 2012: $12,598,2362012Assets 2013: $31,813,444Liabilities 2013: $18,755,654Net Assets 2013: $13,057,7902013Assets 2014: $33,587,993Liabilities 2014: $20,086,310Net Assets 2014: $13,501,6832014Assets 2015: $35,400,968Liabilities 2015: $21,760,557Net Assets 2015: $13,640,4112015Assets 2016: $37,525,310Liabilities 2016: $22,744,346Net Assets 2016: $14,780,9642016Assets 2017: $38,418,453Liabilities 2017: $22,863,390Net Assets 2017: $15,555,0632017Assets 2018: $37,944,586Liabilities 2018: $21,370,765Net Assets 2018: $16,573,8212018Assets 2019: $40,485,127Liabilities 2019: $23,388,783Net Assets 2019: $17,096,3442019Assets 2020: $43,369,853Liabilities 2020: $24,665,321Net Assets 2020: $18,704,5322020Assets 2021: $44,068,104Liabilities 2021: $24,001,856Net Assets 2021: $20,066,2482021Assets 2022: $45,245,763Liabilities 2022: $24,080,029Net Assets 2022: $21,165,7342022Assets 2023: $47,777,901Liabilities 2023: $24,888,999Net Assets 2023: $22,888,9022023Assets 2024: $49,130,905Liabilities 2024: $25,068,333Net Assets 2024: $24,062,5722024

Highlighted filing

2020

Assets$43,369,853
Liabilities$24,665,321
Net Assets$18,704,532
Open 2020 Filing

Operations Trend

Revenue Growth69th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$20M$15M$10M$5.0M$0-$5.0MExpenses 2010: $11,637,0932010Expenses 2011: $12,928,3902011Expenses 2012: $13,334,8892012Revenue 2013: $14,132,759Expenses 2013: $14,149,020Net Income 2013: -$16,2612013Revenue 2014: $14,961,175Expenses 2014: $14,958,492Net Income 2014: $2,6832014Revenue 2015: $13,815,239Expenses 2015: $13,670,511Net Income 2015: $144,7282015Revenue 2016: $16,947,404Expenses 2016: $16,767,751Net Income 2016: $179,6532016Revenue 2017: $15,073,083Expenses 2017: $15,073,083Net Income 2017: $02017Revenue 2018: $15,157,269Expenses 2018: $15,206,128Net Income 2018: -$48,8592018Revenue 2019: $15,400,952Expenses 2019: $15,400,953Net Income 2019: -$12019Revenue 2020: $16,066,825Expenses 2020: $15,992,493Net Income 2020: $74,3322020Revenue 2021: $16,302,715Expenses 2021: $16,152,571Net Income 2021: $150,1442021Revenue 2022: $16,899,394Expenses 2022: $16,842,651Net Income 2022: $56,7432022Revenue 2023: $17,469,616Expenses 2023: $17,300,815Net Income 2023: $168,8012023Revenue 2024: $17,158,565Expenses 2024: $17,092,441Net Income 2024: $66,1242024

Highlighted filing

2020

Revenue$16,066,825
Expenses$15,992,493
Net Income$74,332
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Oct 29, 2021
Return Version
2020v4.1
Gross Receipts
$16,183,212
Mission and Program Overview

Mission

The mission of brown county rural electric is to improve the quality of life for its members by providing reliable electricity and services that are competitively priced.

To provide electricity service to members.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$26,387,265$26,528,778▲ $141,513
Investments Program Related$7,906,224$8,022,819▲ $116,595
Savings and Temporary Cash Investments$3,742,012$6,380,624▲ $2,638,612
Accounts Receivable$1,450,199$1,590,024▲ $139,825
Inventories for Sale or Use$524,420$448,401▼ $76,019
Investments Other Securities$233,666$241,584▲ $7,918
Prepaid Expenses and Deferred Charges$237,007$153,317▼ $83,690
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Rtn Earn Endowment Incm Other Fnds$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$40,485,127$43,369,853▲ $2,884,726
Other Assets Total$4,334$4,306▼ $28
Liabilities
Mortgage Notes Payable Secured by Investment Property$20,967,208$22,522,821▲ $1,555,613
Accounts Payable and Accrued Expenses$2,277,170$2,010,452▼ $266,718
Other Liabilities$95,484$85,456▼ $10,028
Deferred Revenue$48,921$46,592▼ $2,329
Total Liabilities$23,388,783$24,665,321▲ $1,276,538
Net Assets / Fund Balance
Total Net Assets Fund Balance$17,096,344$18,704,532▲ $1,608,188
Total Liabilities and Net Assets / Fund Balance$40,485,127$43,369,853▲ $2,884,726

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$26,161,210$11,391,491$37,552,701
Equipment$85,248$2,945,698$3,030,946
Buildings$223,154$898,674$1,121,828
Land$59,166-$59,166
Investment Program Related Org$9,601--
Compensation and Service Providers
Top Officer Pay62nd percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Mike HeidemannGeneral ManagerFT$145,634$85,271$230,905
Brandon HavemeierOperation ManagerFT$105,425$57,464$162,889
Darla RuschenOffice ManagerFT$68,280$9,177$77,457
James HansonSecretary/treasurerPT$18,530-$18,530
Thomas HayesPresident From 07/2020-$18,480-$18,480
James MickelsonPresident/director-$18,077-$18,077
William BergVice President-$17,130-$17,130
Joel ChristensenDirector-$16,880-$16,880
Bradley SprengerDirector-$16,330-$16,330
Gregory MagesDirector-$16,280-$16,280
Allen HansonDirector Until 11/2020-$13,948-$13,948
Reuben KokeschDirector Until 06/2020-$5,746-$5,746
David WendingerDirector From 07/2020-$5,105-$5,105

Highest Paid Contractors

ContractorServicesLocationCompensation
Carr's Tree ServiceTree TrimmingPO BOX 250, Ottertail, MN 56571$153,160
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$15,966,867
Investment Income
$68,195
Other Revenue
$31,763
Change in Net Assets
$74,332

Audited Revenue Reconciliation

Revenue per Audited Statements
$16,066,825
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$16,066,825
Total Revenue per Form 990
$16,066,825
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$13,357,505
Salaries, Compensation, and Employee Benefits$462,306
Grants and Similar Amounts Paid$2,996
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Benefits to Members---$2,169,686
Depreciation Depletion---$1,348,068
Other Expenses---$711,295
All Other Expenses---$661,315
Interest---$632,400
Current Officers, Directors, Trustees, and Key Employees---$462,306
Grants to Domestic Orgs---$2,996
Total Functional Expenses$0$0$0$15,992,493

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$15,992,493
Expenses per Audited Statements$13,822,807
Total Expenses per Audited Statements$13,822,807
Expenses Not Reported on Financial Statements$2,169,686
Other Expense Adjustments$2,169,686
Expenses Not Reported on Form 990$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Customer Deposit$85,456
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 6

“All electric customers are voting members of the cooperative. Each member has one vote.”

Form 990, Part VI, Section A, Line 7A

“Members vote for the board of directors at the cooperative's annual meeting. The board consists of 9 members with 3 year terms. Each year three seats are up for re-election.”

Form 990, Part VI, Section A, Line 7B

“Members vote on changes to by-laws and articles of incorporation. There is one class of membership.”

Form 990, Part VI, Section A, Line 8B

“The cooperative does not have any committees with authority to act on behalf of the governing body.”

Form 990, Part VI, Section B, Line 11B

“The office manager reviews the 990 in detail. After her review, the 990 is provided to each board member and the general manager. The board meets every month, and will review and approve the 990 at the next scheduled board meeting. The 990 will then be filed with the irs.”

Form 990, Part VI, Section B, Line 12C

“The conflict of interest policy covers all members of the board of directors. The general manager and the board of directors review the potential conflicts to determine if a conflict exists. If a conflict exists, the conflicted board member or officer is excluded from discussions and votes related to the potential or existing relationship involving the conflict of interest. The remaining board members and officers will review, for fairness, all past transactions involving the conflict of interest. Legal remedies will be considered if needed.”

Form 990, Part VI, Section B, Line 15

“The general manager's compensation is reviewed and approved by the board of directors on an annual basis. This was last completed in 2020. Staff compensation is reviewed and approved by the general manager and the board of directors annually. This was last completed in 2020.”

Form 990, Part VI, Section C, Line 19

“All documents are available upon request.”

Filing and Contact Details

Filer

Filer Name
Brown County Rural Electrical
EIN
41-0167135
Phone
5077943331
Address
PO BOX 529, SLEEPY EYE, MN 56085-0529

Signing Officer

Name
Michael Heidemann
Title
General Manager
Phone
5077943331
Signed
2021-10-29
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Michael Heidemann
Formed
1937
Legal Domicile
Mn
Voting Board Members
8
Independent Board Members
8
Employees
20
Volunteers
0

Preparer

Firm
Eide Bailly Llp
Address
200 E 10TH ST STE 500, SIOUX FALLS, SD 57104-6375
Preparer
Laurie Hanson CPA
Phone
6053391999
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

“Changes in postretirement benefit plan 19,008. Retirement of capital credits -654,893. Net changes in memberships 55. 2020 patronage allocation in 2021 2,169,686.”

Financial Statement Notes

PART X, LINE 2:

“The association evaluates its tax positions that have been taken or are expected to be taken on income tax returns to determine if an accrual is necessary for uncertain tax positions. As of december 31, 2020 and 2019, the unrecognized tax benefit accrual was zero. The association will recognize future accrued interest and penalties related to unrecognized tax benefits in income tax expense if incurred.”

PART XII, LINE 4B - OTHER ADJUSTMENTS:

“2020 patronage allocation in 2021 2,169,686.”

Raw XML AppendixShowing 400 of 525 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Form990PartVIISectionAGrp/TitleTxt0PRESIDENT/DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt1DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt2VICE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt3SECRETARY/TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5PRESIDENT FROM 07/2020
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR UNTIL 06/2020
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR UNTIL 11/2020
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR FROM 07/2020
IRS990/Form990PartVIISectionAGrp/TitleTxt10GENERAL MANAGER
IRS990/Form990PartVIISectionAGrp/TitleTxt11OFFICE MANAGER
IRS990/Form990PartVIISectionAGrp/TitleTxt12OPERATION MANAGER
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IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossReceiptsAmt016183212
IRS990/GrossSalesOfInventoryAmt0128560
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
IRS990/IndependentAuditFinclStmtInd01
IRS990/IndependentVotingMemberCnt08
IRS990/IndivRcvdGreaterThan100KCnt02
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIInd0X
IRS990/InterestGrp/TotalAmt0632400
IRS990/InventoriesForSaleOrUseGrp/BOYAmt0524420
IRS990/InventoriesForSaleOrUseGrp/EOYAmt0448401
IRS990/InvestmentIncomeGrp/ExclusionAmt068195
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt068195
IRS990/InvestmentInJointVentureInd01
IRS990/InvestmentsOtherSecuritiesGrp/BOYAmt0233666
IRS990/InvestmentsOtherSecuritiesGrp/EOYAmt0241584
IRS990/InvestmentsProgramRelatedGrp/BOYAmt07906224
IRS990/InvestmentsProgramRelatedGrp/EOYAmt08022819
IRS990/IRPDocumentCnt014
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt015235863
IRS990/LandBldgEquipBasisNetGrp/BOYAmt026387265
IRS990/LandBldgEquipBasisNetGrp/EOYAmt026528778
IRS990/LandBldgEquipCostOrOtherBssAmt041764641
IRS990/LegalDomicileStateCd0MN
IRS990/LoanOutstandingInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersAndShrGrossIncomeAmt015878334
IRS990/MembersOrStockholdersInd01
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd00
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0THE MISSION OF BROWN COUNTY ELECTRIC IS TO IMPROVE THE QUALITY OF LIFE FOR ITS MEMBERS BY PROVIDING RELIABLE ELECTRICITY AND SERVICES THAT ARE COMPETITIVELY PRICED.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/MortgNotesPyblScrdInvstPropGrp/BOYAmt020967208
IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt022522821
IRS990/NetAssetsOrFundBalancesBOYAmt017096344
IRS990/NetAssetsOrFundBalancesEOYAmt018704532
IRS990/NetIncomeOrLossGrp/RelatedOrExemptFuncIncomeAmt012173
IRS990/NetIncomeOrLossGrp/TotalRevenueColumnAmt012173
IRS990/NetUnrelatedBusTxblIncmAmt014425
IRS990/NondeductibleContributionsInd00
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501cInd0X
IRS990/OrgDoesNotFollowFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt04334
IRS990/OtherAssetsTotalGrp/EOYAmt04306
IRS990/OtherChangesInNetAssetsAmt01533856
IRS990/OtherExpensesGrp/Desc0UNRELATED BUSINESS INCO
IRS990/OtherExpensesGrp/Desc1COST OF POWER
IRS990/OtherExpensesGrp/Desc2DISTRIBUTION-MAINTENANC
IRS990/OtherExpensesGrp/Desc3ADMINISTRATIVE AND GENE
IRS990/OtherExpensesGrp/TotalAmt07389
IRS990/OtherExpensesGrp/TotalAmt19119408
IRS990/OtherExpensesGrp/TotalAmt2877630
IRS990/OtherExpensesGrp/TotalAmt3711295
IRS990/OtherLiabilitiesGrp/BOYAmt095484
IRS990/OtherLiabilitiesGrp/EOYAmt085456
IRS990/OtherRevenueMiscGrp/BusinessCd0900099
IRS990/OtherRevenueMiscGrp/Desc0EQUITY EARNINGS
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt019590
IRS990/OtherRevenueMiscGrp/UnrelatedBusinessRevenueAmt019590
IRS990/OtherRevenueTotalAmt019590
IRS990/OtherSourcesGrossIncomeAmt096403
IRS990/PartialLiquidationInd00
IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt00
IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0237007
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0153317
IRS990/PrincipalOfficerNm0MICHAEL HEIDEMANN
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0221000
IRS990/ProgramServiceRevenueGrp/BusinessCd1221000
IRS990/ProgramServiceRevenueGrp/Desc0SALE OF POWER
IRS990/ProgramServiceRevenueGrp/Desc1CAPITAL CREDIT
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt015587289
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1284661
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt015587289
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1284661
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt01191978
IRS990/PYContributionsGrantsAmt00
IRS990/PYGrantsAndSimilarPaidAmt03296
IRS990/PYInvestmentIncomeAmt0122133
IRS990/PYOtherExpensesAmt013782587
IRS990/PYOtherRevenueAmt05373
IRS990/PYProgramServiceRevenueAmt015273446
IRS990/PYRevenuesLessExpensesAmt0-1
IRS990/PYSalariesCompEmpBnftPaidAmt0423092
IRS990/PYTotalExpensesAmt015400953
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt015400952
IRS990/ReconcilationRevenueExpnssAmt074332
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd01
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt03742012
IRS990/SavingsAndTempCashInvstGrp/EOYAmt06380624
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt0223154
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0898674
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt01121828
IRS990ScheduleD/EquipmentGrp/BookValueAmt085248
IRS990ScheduleD/EquipmentGrp/DepreciationAmt02945698
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt03030946
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt02169686
IRS990ScheduleD/ExpensesSubtotalAmt013822807
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt06531687
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt1426730
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt2767643
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt373042
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt41000
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt5150548
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt613109
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt749459
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt89601
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc0GREAT RIVER ENERGY
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc1COOPERATIVE TELEVISION ASSOCIATION OF SOUTHERN MINNESOTA (CTV)
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc2NATIONAL RURAL UTILITIES COOPERATIVE FINANCE CORPORATION
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc3FEDERATED RURAL ELECTRIC INSURANCE
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc4MEMBERSHIP
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc5RURAL ELECTRIC SUPPLY COOPERATIVE
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc6MINNESOTA RURAL ELECTRIC TRUST EQUITY
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc7SMEC
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc8OTHER PATRONAGE CAPITAL AND MEMBERSHIP
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd0C
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd1C
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd2C
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd3C
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd4C
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd5C
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd6C
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd7C
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd8C
IRS990ScheduleD/LandGrp/BookValueAmt059166
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt059166
IRS990ScheduleD/OtherExpensesNotIncludedAmt02169686
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt026161210
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt011391491
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt037552701
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt085456
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0CUSTOMER DEPOSIT
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt016066825
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ASSOCIATION EVALUATES ITS TAX POSITIONS THAT HAVE BEEN TAKEN OR ARE EXPECTED TO BE TAKEN ON INCOME TAX RETURNS TO DETERMINE IF AN ACCRUAL IS NECESSARY FOR UNCERTAIN TAX POSITIONS. AS OF DECEMBER 31, 2020 AND 2019, THE UNRECOGNIZED TAX BENEFIT ACCRUAL WAS ZERO. THE ASSOCIATION WILL RECOGNIZE FUTURE ACCRUED INTEREST AND PENALTIES RELATED TO UNRECOGNIZED TAX BENEFITS IN INCOME TAX EXPENSE IF INCURRED.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt12020 PATRONAGE ALLOCATION IN 2021 2,169,686.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART XII, LINE 4B - OTHER ADJUSTMENTS:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt026528778
IRS990ScheduleD/TotalBookValueProgramRltdAmt08022819
IRS990ScheduleD/TotalExpensesPerForm990Amt015992493
IRS990ScheduleD/TotalLiabilityAmt085456
IRS990ScheduleD/TotalRevenuePerForm990Amt016066825
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt016066825
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt013822807
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0145634
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt1105425
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt053673
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt123328
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt031598
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt134136
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0MIKE HEIDEMANN
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1BRANDON HAVEMEIER
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0GENERAL MANAGER
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt1OPERATION MANAGER
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0230905
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt1162889
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt10
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt0AS REQUIRED PER THE INSTRUCTIONS OF FORM 990 AND SCHEDULE J, THE AMOUNT REPORTED IN SCHEDULE J COLUMN C IS THE CHANGE IN ACTUARIAL VALUE IN THE DEFINED BENEFIT PLAN RATHER THAN THE EXPENSE ON THE BOOKS OF THE COOPERATIVE. THE CHANGE IN ACTUARIAL VALUE IN THE DEFINED BENEFIT PLAN FOR MIKE HEIDEMANN IS $46,079, WHEREAS THE ACTUAL EXPENSE FOR THE PLAN WAS $37,405. THE CHANGE IN ACTUARIAL VALUE IN THE DEFINED BENEFIT PLAN FOR BRANDON HAVEMEIER IS $17,677, WHEREAS THE ACTUAL EXPENSE FOR THE PLAN WAS $27,832.
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, SCHEDULE J, PART II
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0ALL ELECTRIC CUSTOMERS ARE VOTING MEMBERS OF THE COOPERATIVE. EACH MEMBER HAS ONE VOTE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1MEMBERS VOTE FOR THE BOARD OF DIRECTORS AT THE COOPERATIVE'S ANNUAL MEETING. THE BOARD CONSISTS OF 9 MEMBERS WITH 3 YEAR TERMS. EACH YEAR THREE SEATS ARE UP FOR RE-ELECTION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2MEMBERS VOTE ON CHANGES TO BY-LAWS AND ARTICLES OF INCORPORATION. THERE IS ONE CLASS OF MEMBERSHIP.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE COOPERATIVE DOES NOT HAVE ANY COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE OFFICE MANAGER REVIEWS THE 990 IN DETAIL. AFTER HER REVIEW, THE 990 IS PROVIDED TO EACH BOARD MEMBER AND THE GENERAL MANAGER. THE BOARD MEETS EVERY MONTH, AND WILL REVIEW AND APPROVE THE 990 AT THE NEXT SCHEDULED BOARD MEETING. THE 990 WILL THEN BE FILED WITH THE IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE CONFLICT OF INTEREST POLICY COVERS ALL MEMBERS OF THE BOARD OF DIRECTORS. THE GENERAL MANAGER AND THE BOARD OF DIRECTORS REVIEW THE POTENTIAL CONFLICTS TO DETERMINE IF A CONFLICT EXISTS. IF A CONFLICT EXISTS, THE CONFLICTED BOARD MEMBER OR OFFICER IS EXCLUDED FROM DISCUSSIONS AND VOTES RELATED TO THE POTENTIAL OR EXISTING RELATIONSHIP INVOLVING THE CONFLICT OF INTEREST. THE REMAINING BOARD MEMBERS AND OFFICERS WILL REVIEW, FOR FAIRNESS, ALL PAST TRANSACTIONS INVOLVING THE CONFLICT OF INTEREST. LEGAL REMEDIES WILL BE CONSIDERED IF NEEDED.

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$43,369,853
Liabilities
$24,665,321
Net assets
$18,704,532
Revenue
$16,066,825
Expenses
$15,992,493
Net income
$74,332
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$49.1$25.1$24.1$17.2$17.1$0.07
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$47.8$24.9$22.9$17.5$17.3$0.17
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$45.2$24.1$21.2$16.9$16.8$0.06
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$44.1$24.0$20.1$16.3$16.2$0.15
2020Detailed filing. Detailed filing data is available for this year.$43.4$24.7$18.7$16.1$16.0$0.07
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$40.5$23.4$17.1$15.4$15.4$0.00
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$37.9$21.4$16.6$15.2$15.2$0.05
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$38.4$22.9$15.6$15.1$15.1$0.00
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$37.5$22.7$14.8$16.9$16.8$0.18
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$35.4$21.8$13.6$13.8$13.7$0.14
2014XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$33.6$20.1$13.5$15.0$15.0$0.00
2013Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$31.8$18.8$13.1$14.1$14.1$0.02
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$29.6$17.0$12.6$13.3
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$27.8$15.6$12.2$12.9
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$27.3$15.2$12.0$11.6