Civic Intelligence

Cooperative Light and Power Association of Lake County

990 • Fiscal year 2018 • EIN 41-0203975

Jan 01, 2018 to Dec 31, 2018 • Filed on Jul 25, 2019

Organization ProfileWWW.CLPOWER.COM
1554 Highway 2Two Harbors, MN 55616

(218) 834-2226

Siviq Scores

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

Liabilities / Assets

48th percentile

0.51x

Higher debt load relative to assets than 48% of similar nonprofits.

2018 filings • 501(c)12 • $25M-$50M nonprofits • Source year 2018

Liabilities / Revenue

36th percentile

1.18x

Higher debt load relative to revenue than 36% of similar nonprofits.

2018 filings • 501(c)12 • $25M-$50M nonprofits • Source year 2018

Net Margin

50th percentile

2.1%

Higher net margin than 50% of similar nonprofits.

2018 filings • 501(c)12 • $25M-$50M nonprofits • Source year 2018

Top Officer Pay

70th percentile

$239,490

Higher top officer pay than 70% of similar nonprofits.

Top officer pay equals 1.8% of source-year revenue.

2018 filings • 501(c)12 • $25M-$50M nonprofits • Source year 2018

Asset Growth

16th percentile

-0.4%

Faster asset growth than 16% of similar nonprofits.

2018 filings • 501(c)12 • $25M-$50M nonprofits • Annualized from 2017 to 2018

Revenue Growth

33rd percentile

2.3%

Faster revenue growth than 33% of similar nonprofits.

2018 filings • 501(c)12 • $25M-$50M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets48th percentile

Assets

Down

$31,191,674

Down $135,292 (-0.4%) from 2017

Net Assets

Up

$15,187,768

Up $307,027 (+2.1%) from 2017

Liabilities

Down

$16,003,906

Down $442,319 (-2.7%) from 2017

Revenue And Expenses
Liabilities / Revenue36th percentileNet Margin50th percentile

Revenue

Up

$13,507,898

Up $305,996 (+2.3%) from 2017

Expenses

Up

$13,221,933

Up $197,184 (+1.5%) from 2017

Net Income

Up

$285,965

Up $108,812 (+61%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth16th percentile

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

$40M$30M$20M$10M$0Assets 2011: $25,507,142Liabilities 2011: $12,445,682Net Assets 2011: $13,061,4602011Assets 2012: $27,000,698Liabilities 2012: $13,203,483Net Assets 2012: $13,797,2152012Assets 2013: $28,196,519Liabilities 2013: $13,889,006Net Assets 2013: $14,307,5132013Assets 2014: $29,889,794Liabilities 2014: $15,188,788Net Assets 2014: $14,701,0062014Assets 2015: $29,780,252Liabilities 2015: $15,077,530Net Assets 2015: $14,702,7222015Assets 2016: $30,692,905Liabilities 2016: $16,022,052Net Assets 2016: $14,670,8532016Assets 2017: $31,326,966Liabilities 2017: $16,446,225Net Assets 2017: $14,880,7412017Assets 2018: $31,191,674Liabilities 2018: $16,003,906Net Assets 2018: $15,187,7682018Assets 2019: $30,855,710Liabilities 2019: $15,512,154Net Assets 2019: $15,343,5562019Assets 2020: $31,493,472Liabilities 2020: $15,890,369Net Assets 2020: $15,603,1032020Assets 2021: $32,161,097Liabilities 2021: $16,976,895Net Assets 2021: $15,184,2022021Assets 2022: $32,952,450Liabilities 2022: $17,531,148Net Assets 2022: $15,421,3022022Assets 2023: $34,755,470Liabilities 2023: $18,941,150Net Assets 2023: $15,814,3202023Assets 2024: $36,554,621Liabilities 2024: $20,763,972Net Assets 2024: $15,790,6492024

Highlighted filing

2018

Assets$31,191,674
Liabilities$16,003,906
Net Assets$15,187,768
Open 2018 Filing

Operations Trend

Revenue Growth33rd percentile

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

$20M$15M$10M$5.0M$0-$5.0MRevenue 2011: $10,978,732Expenses 2011: $10,074,109Net Income 2011: $904,6232011Expenses 2012: $10,824,3232012Revenue 2013: $12,097,541Expenses 2013: $11,636,450Net Income 2013: $461,0912013Revenue 2014: $12,975,062Expenses 2014: $12,600,407Net Income 2014: $374,6552014Revenue 2015: $12,131,768Expenses 2015: $12,163,063Net Income 2015: -$31,2952015Revenue 2016: $12,623,950Expenses 2016: $12,720,929Net Income 2016: -$96,9792016Revenue 2017: $13,201,902Expenses 2017: $13,024,749Net Income 2017: $177,1532017Revenue 2018: $13,507,898Expenses 2018: $13,221,933Net Income 2018: $285,9652018Revenue 2019: $13,524,405Expenses 2019: $13,393,618Net Income 2019: $130,7872019Revenue 2020: $13,706,449Expenses 2020: $13,478,190Net Income 2020: $228,2592020Revenue 2021: $13,814,099Expenses 2021: $14,265,949Net Income 2021: -$451,8502021Revenue 2022: $14,384,512Expenses 2022: $14,180,360Net Income 2022: $204,1522022Revenue 2023: $14,718,706Expenses 2023: $14,344,542Net Income 2023: $374,1642023Revenue 2024: $15,266,668Expenses 2024: $15,300,746Net Income 2024: -$34,0782024

Highlighted filing

2018

Revenue$13,507,898
Expenses$13,221,933
Net Income$285,965
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Jul 25, 2019
Return Version
2018v3.1
Gross Receipts
$13,595,255
Mission and Program Overview

Mission

Electric energy distribution

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$19,993,102$19,618,803▼ $374,299
Rtn Earn Endowment Incm Other Fnds$14,880,741$15,187,768▲ $307,027
Investments Other Securities$7,002,012$7,002,217▲ $205
Accounts Receivable$1,608,688$1,489,169▼ $119,519
Prepaid Expenses and Deferred Charges$682,129$1,259,710▲ $577,581
Savings and Temporary Cash Investments$1,455,715$945,263▼ $510,452
Inventories for Sale or Use$359,412$363,359▲ $3,947
Cash and Non-Interest-Bearing Accounts$48,895$344,546▲ $295,651
Total Assets$31,326,966$31,191,674▼ $135,292
Other Assets Total$177,013$168,607▼ $8,406
Liabilities
Mortgage Notes Payable Secured by Investment Property$13,560,271$13,462,525▼ $97,746
Accounts Payable and Accrued Expenses$2,696,581$2,368,828▼ $327,753
Deferred Revenue$138,338$125,061▼ $13,277
Other Liabilities$51,035$47,492▼ $3,543
Total Liabilities$16,446,225$16,003,906▼ $442,319
Net Assets / Fund Balance
Total Net Assets Fund Balance$14,880,741$15,187,768▲ $307,027
Total Liabilities and Net Assets / Fund Balance$31,326,966$31,191,674▼ $135,292

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$17,487,693$15,916,766$33,404,459
Buildings$1,289,098$882,546$2,171,644
Other Land Buildings$460,984-$460,984
Land$381,028-$381,028
Other Securities$37--
Compensation and Service Providers
Top Officer Pay70th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Steve WattnemGeneral ManaFT$159,141$80,349$239,490
Steve WattnemGeneral Manager-$159,141$80,349$239,490
Larry SandretskyLinemanFT$106,581$58,091$164,672
Vince UdenbergLinemenFT$108,117$55,063$163,180
Michael JohnsonLinemenFT$110,205$52,632$162,837
Brian BentlerLinemanFT$107,437$54,092$161,529
Chase PetersonLinemenFT$113,193$36,613$149,806
Spring DetlefsenOffice ManagFT$86,046$56,897$142,943
Scott VeitenheimerTreasurerPT$9,200-$9,200
Alis StevensSecretaryPT$8,520-$8,520
Peggy KuettelPresidentPT$7,800-$7,800
Greg LienDirectorPT$6,360-$6,360
Robert NikolaiVice PresidePT$6,200-$6,200
James AndersonDirectorPT$800-$800

Highest Paid Contractors

ContractorServicesLocationCompensation
Central Applicators INCLine Clearing3190 HWY 25 NE, PO BOX 279, Foley, MN 56329$184,835
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$12,968,753
Investment Income
$132,331
Other Revenue
$406,814
Change in Net Assets
$285,965

Audited Revenue Reconciliation

Revenue per Audited Statements
$13,507,898
Total Revenue per Audited Statements
$13,507,898
Total Revenue per Form 990
$13,507,898
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$12,469,026
Salaries, Compensation, and Employee Benefits$421,313
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion---$998,901
All Other Expenses---$591,712
Interest---$471,626
Other Expenses---$424,850
Current Officers, Directors, Trustees, and Key Employees---$421,313
Benefits to Members---$331,594
Total Functional Expenses$0$0$0$13,221,933

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$13,221,933
Expenses per Audited Statements$12,890,339
Total Expenses per Audited Statements$12,890,339
Expenses Not Reported on Financial Statements$331,594
Other Expense Adjustments$331,594
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 Deposits$47,492
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 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
No
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, Page 6, Part VI, Line 6

“The organization only has one class of members.”

Form 990, Page 6, Part VI, Line 7A

“Members elect new board of directors annually based on expiring terms or open position. Votes are done by regional area ensuring that there is a director representing each area of the cooperatives service area.”

Form 990, Page 6, Part VI, Line 7B

“Certain significant decisions as outlined in the organization's bylaws are subject to member approval. All members have equal rights and are allowed one vote.”

Form 990, Page 6, Part VI, Line 11B

“Prior to filing the form 990 is reviewed and approved by the general manager and the office manager. The board reviews and approves the form at the following board meeting.”

Form 990, Page 6, Part VI, Line 12C

“Board members review and sign off on a conflict of interest policy annually. Conflicts are to be evaluated as they arise.”

Form 990, Page 6, Part VI, Line 15A

“Compensation adjustment is aided by survey results of other electrical co-ops in the state and region. Reviewed and approved by the board of directors.”

Form 990, Page 6, Part VI, Line 19

“Available at the cooperatives two harbors office upon request during normal business hours.”

Filing and Contact Details

Filer

Filer Name
Cooperative Light and Power
EIN
41-0203975
Phone
2188342226
Address
1554 HIGHWAY 2, TWO HARBORS, MN 55616

Signing Officer

Name
Hal Halpern
Title
CEO/general Manager
Phone
2188342226
Signed
2019-07-25
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Hal Halpern
Formed
1936
Legal Domicile
Mn
Voting Board Members
5
Independent Board Members
5
Employees
21

Preparer

Firm
Esterbrooks Scott Signorelli Etal Ltd
Address
302 W SUPERIOR ST STE200, DULUTH, MN 55802
Preparer
Michael a Pederson
Phone
2187276846
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

“Gain on retirement of capital credits 21,062”

Financial Statement Notes

Schedule D, Page 4, Part XII, Line 4B

“Book/tax difference: retirement of capital credits 331,594”

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IRS990/LegalDomicileStateCd0MN
IRS990/LessCostOthBasisSalesExpnssGrp/OtherAmt087357
IRS990/LoanOutstandingInd0false
IRS990/LocalChaptersInd0false
IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembersAndShrGrossIncomeAmt013017271
IRS990/MembersOrStockholdersInd0true
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0ELECTRIC ENERGY DISTRIBUTION
IRS990/MoreThan5000KToIndividualsInd0false
IRS990/MoreThan5000KToOrgInd0false
IRS990/MortgNotesPyblScrdInvstPropGrp/BOYAmt013560271
IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt013462525
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IRS990/NetAssetsOrFundBalancesEOYAmt015187768
IRS990/NetGainOrLossInvestmentsGrp/ExclusionAmt0-59520
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt0-59520
IRS990/NetIncomeOrLossGrp/RelatedOrExemptFuncIncomeAmt048518
IRS990/NetIncomeOrLossGrp/TotalRevenueColumnAmt0161726
IRS990/NetIncomeOrLossGrp/UnrelatedBusinessRevenueAmt0113208
IRS990/NondeductibleContributionsInd0false
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501cInd0X
IRS990/OrgDoesNotFollowSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt0177013
IRS990/OtherAssetsTotalGrp/EOYAmt0168607
IRS990/OtherChangesInNetAssetsAmt021062
IRS990/OtherExpensesGrp/Desc0COST OF POWER
IRS990/OtherExpensesGrp/Desc1DISTRIBUTION EXPENSE
IRS990/OtherExpensesGrp/Desc2ADMINISTRATIVE & GENERAL
IRS990/OtherExpensesGrp/Desc3CUSTOMER SERVICE AND INFO
IRS990/OtherExpensesGrp/TotalAmt07340805
IRS990/OtherExpensesGrp/TotalAmt11835040
IRS990/OtherExpensesGrp/TotalAmt2806092
IRS990/OtherExpensesGrp/TotalAmt3424850
IRS990/OtherLiabilitiesGrp/BOYAmt051035
IRS990/OtherLiabilitiesGrp/EOYAmt047492
IRS990/OtherRevenueMiscGrp/BusinessCd0900099
IRS990/OtherRevenueMiscGrp/BusinessCd1900099
IRS990/OtherRevenueMiscGrp/BusinessCd2900099
IRS990/OtherRevenueMiscGrp/Desc0COOPERATIVE CAPITAL CREDITS
IRS990/OtherRevenueMiscGrp/Desc1OTHER CAPITAL CREDITS
IRS990/OtherRevenueMiscGrp/Desc2OTHER NONOPERATING MARGINS
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt0203652
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt134659
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt26777
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt0203652
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt134659
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt26777
IRS990/OtherRevenueTotalAmt0245088
IRS990/OtherSourcesGrossIncomeAmt0358296
IRS990/PartialLiquidationInd0false
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0682129
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt01259710
IRS990/PrincipalOfficerNm0HAL HALPERN
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0221000
IRS990/ProgramServiceRevenueGrp/Desc0ELECTRIC REVENUE
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt012968753
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt012968753
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYBenefitsPaidToMembersAmt0350164
IRS990/PYInvestmentIncomeAmt0156465
IRS990/PYOtherExpensesAmt012272526
IRS990/PYOtherRevenueAmt0552137
IRS990/PYProgramServiceRevenueAmt012493300
IRS990/PYRevenuesLessExpensesAmt0177153
IRS990/PYSalariesCompEmpBnftPaidAmt0402059
IRS990/PYTotalExpensesAmt013024749
IRS990/PYTotalRevenueAmt013201902
IRS990/ReconcilationRevenueExpnssAmt0285965
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0true
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0true
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt014880741
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt015187768
IRS990/SavingsAndTempCashInvstGrp/BOYAmt01455715
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0945263
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt01289098
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0882546
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt02171644
IRS990ScheduleD/EquipmentGrp/BookValueAmt017487693
IRS990ScheduleD/EquipmentGrp/DepreciationAmt015916766
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt033404459
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt0331594
IRS990ScheduleD/ExpensesSubtotalAmt012890339
IRS990ScheduleD/LandGrp/BookValueAmt0381028
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0381028
IRS990ScheduleD/OtherExpensesNotIncludedAmt0331594
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0460984
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0460984
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt047492
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0CUSTOMER DEPOSITS
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt05785458
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt1673732
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt2323382
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt3108226
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt485314
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt518463
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt66597
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt71008
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt837
IRS990ScheduleD/OtherSecuritiesGrp/Desc0GREAT RIVER ENERGY
IRS990ScheduleD/OtherSecuritiesGrp/Desc1NATIONAL RURAL UTILITIES COOPERATIVE
IRS990ScheduleD/OtherSecuritiesGrp/Desc2NATIONAL RURAL TELECOMMUNICATIONS
IRS990ScheduleD/OtherSecuritiesGrp/Desc3RURAL ELECTIC SUPPLY COOPERATIVE
IRS990ScheduleD/OtherSecuritiesGrp/Desc4FEDERATED RURAL ELECTRIC INSURANCE
IRS990ScheduleD/OtherSecuritiesGrp/Desc5MINNESOTA RURAL ELECTRIC TRUST
IRS990ScheduleD/OtherSecuritiesGrp/Desc6COOPERATIVE RESPONSE CENTER
IRS990ScheduleD/OtherSecuritiesGrp/Desc7CO-BANK
IRS990ScheduleD/OtherSecuritiesGrp/Desc8TOUCHSTONE ENERGY
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd0F
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd1F
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd2F
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd3F
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd4F
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd5F
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd6F
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd7F
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd8F
IRS990ScheduleD/RevenueSubtotalAmt013507898
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0BOOK/TAX DIFFERENCE: RETIREMENT OF CAPITAL CREDITS 331,594
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 4, PART XII, LINE 4B
IRS990ScheduleD/TotalBookValueLandBuildingsAmt019618803
IRS990ScheduleD/TotalBookValueSecuritiesAmt07002217
IRS990ScheduleD/TotalExpensesPerForm990Amt013221933
IRS990ScheduleD/TotalLiabilityAmt047492
IRS990ScheduleD/TotalRevenuePerForm990Amt013507898
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt013507898
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt012890339
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/CompensationSurveyInd0X
IRS990ScheduleJ/EquityBasedCompArrngmInd0false
IRS990/ScheduleJRequiredInd0true
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0159141
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt1110205
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt2108117
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt3106581
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt4107437
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt056487
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt132432
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt231338
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt338628
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt431338
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt023862
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt120200
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt223725
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt319463
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt422754
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0STEVE WATTNEM
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1MICHAEL JOHNSON
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm2VINCE UDENBERG
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm3LARRY SANDRETSKY
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm4BRIAN BENTLER
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0GENERAL MANAGER
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt1LINEMEN
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt2LINEMEN
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt3LINEMAN
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt4LINEMAN
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0239490
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt1162837
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt2163180
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt3164672
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt4161529
IRS990ScheduleJ/SeverancePaymentInd0false
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION ONLY HAS ONE CLASS OF MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1MEMBERS ELECT NEW BOARD OF DIRECTORS ANNUALLY BASED ON EXPIRING TERMS OR OPEN POSITION. VOTES ARE DONE BY REGIONAL AREA ENSURING THAT THERE IS A DIRECTOR REPRESENTING EACH AREA OF THE COOPERATIVES SERVICE AREA.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2CERTAIN SIGNIFICANT DECISIONS AS OUTLINED IN THE ORGANIZATION'S BYLAWS ARE SUBJECT TO MEMBER APPROVAL. ALL MEMBERS HAVE EQUAL RIGHTS AND ARE ALLOWED ONE VOTE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3PRIOR TO FILING THE FORM 990 IS REVIEWED AND APPROVED BY THE GENERAL MANAGER AND THE OFFICE MANAGER. THE BOARD REVIEWS AND APPROVES THE FORM AT THE FOLLOWING BOARD MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4BOARD MEMBERS REVIEW AND SIGN OFF ON A CONFLICT OF INTEREST POLICY ANNUALLY. CONFLICTS ARE TO BE EVALUATED AS THEY ARISE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5COMPENSATION ADJUSTMENT IS AIDED BY SURVEY RESULTS OF OTHER ELECTRICAL CO-OPS IN THE STATE AND REGION. REVIEWED AND APPROVED BY THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6AVAILABLE AT THE COOPERATIVES TWO HARBORS OFFICE UPON REQUEST DURING NORMAL BUSINESS HOURS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7GAIN ON RETIREMENT OF CAPITAL CREDITS 21,062
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 19

Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$31,191,674
Liabilities
$16,003,906
Net assets
$15,187,768
Revenue
$13,507,898
Expenses
$13,221,933
Net income
$285,965
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$36.6$20.8$15.8$15.3$15.3$0.03
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$34.8$18.9$15.8$14.7$14.3$0.37
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$33.0$17.5$15.4$14.4$14.2$0.20
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$32.2$17.0$15.2$13.8$14.3$0.45
2020Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$31.5$15.9$15.6$13.7$13.5$0.23
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$30.9$15.5$15.3$13.5$13.4$0.13
2018Detailed filing. Detailed filing data is available for this year.$31.2$16.0$15.2$13.5$13.2$0.29
2017Detailed filing. Detailed filing data is available for this year.$31.3$16.4$14.9$13.2$13.0$0.18
2016Detailed filing. Detailed filing data is available for this year.$30.7$16.0$14.7$12.6$12.7$0.10
2015Detailed filing. Detailed filing data is available for this year.$29.8$15.1$14.7$12.1$12.2$0.03
2014Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$29.9$15.2$14.7$13.0$12.6$0.37
2013XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$28.2$13.9$14.3$12.1$11.6$0.46
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$27.0$13.2$13.8$10.8
2011Summary only. Only limited summary data is available for this year.$25.5$12.4$13.1$11.0$10.1$0.90