Civic Intelligence

Cooperative Light and Power Association of Lake County

990 • Fiscal year 2019 • EIN 41-0203975

Jan 01, 2019 to Dec 31, 2019 • Filed on Jun 18, 2020

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

50th percentile

0.50x

Higher debt load relative to assets than 50% of similar nonprofits.

2019 filings • 501(c)12 • $25M-$50M nonprofits • Source year 2019

Liabilities / Revenue

34th percentile

1.15x

Higher debt load relative to revenue than 34% of similar nonprofits.

2019 filings • 501(c)12 • $25M-$50M nonprofits • Source year 2019

Net Margin

47th percentile

1.0%

Higher net margin than 47% of similar nonprofits.

2019 filings • 501(c)12 • $25M-$50M nonprofits • Source year 2019

Top Officer Pay

36th percentile

$168,370

Higher top officer pay than 36% of similar nonprofits.

Top officer pay equals 1.2% of source-year revenue.

2019 filings • 501(c)12 • $25M-$50M nonprofits • Source year 2019

Asset Growth

13th percentile

-1.1%

Faster asset growth than 13% of similar nonprofits.

2019 filings • 501(c)12 • $25M-$50M nonprofits • Annualized from 2018 to 2019

Revenue Growth

46th percentile

0.1%

Faster revenue growth than 46% of similar nonprofits.

2019 filings • 501(c)12 • $25M-$50M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets50th percentile

Assets

Down

$30,855,710

Down $335,964 (-1.1%) from 2018

Net Assets

Up

$15,343,556

Up $155,788 (+1.0%) from 2018

Liabilities

Down

$15,512,154

Down $491,752 (-3.1%) from 2018

Revenue And Expenses
Liabilities / Revenue34th percentileNet Margin47th percentile

Revenue

Up

$13,524,405

Up $16,507 (+0.1%) from 2018

Expenses

Up

$13,393,618

Up $171,685 (+1.3%) from 2018

Net Income

Down

$130,787

Down $155,178 (-54%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth13th 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

2019

Assets$30,855,710
Liabilities$15,512,154
Net Assets$15,343,556
Open 2019 Filing

Operations Trend

Revenue Growth46th 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

2019

Revenue$13,524,405
Expenses$13,393,618
Net Income$130,787
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Jun 18, 2020
Return Version
2019v5.0
Gross Receipts
$13,524,405
Mission and Program Overview

Mission

Electric energy distribution

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$19,618,803$19,452,749▼ $166,054
Rtn Earn Endowment Incm Other Fnds$15,187,768$15,343,556▲ $155,788
Investments Other Securities$7,002,217$6,747,661▼ $254,556
Accounts Receivable$1,489,169$1,563,731▲ $74,562
Savings and Temporary Cash Investments$945,263$1,389,641▲ $444,378
Prepaid Expenses and Deferred Charges$1,259,710$1,072,700▼ $187,010
Inventories for Sale or Use$363,359$323,380▼ $39,979
Cash and Non-Interest-Bearing Accounts$344,546$145,735▼ $198,811
Total Assets$31,191,674$30,855,710▼ $335,964
Other Assets Total$168,607$160,113▼ $8,494
Liabilities
Mortgage Notes Payable Secured by Investment Property$13,462,525$12,693,964▼ $768,561
Accounts Payable and Accrued Expenses$2,368,828$2,535,816▲ $166,988
Deferred Revenue$125,061$226,770▲ $101,709
Other Liabilities$47,492$55,604▲ $8,112
Total Liabilities$16,003,906$15,512,154▼ $491,752
Net Assets / Fund Balance
Total Net Assets Fund Balance$15,187,768$15,343,556▲ $155,788
Total Liabilities and Net Assets / Fund Balance$31,191,674$30,855,710▼ $335,964

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$17,415,863$16,903,851$34,319,714
Buildings$1,236,738$934,906$2,171,644
Other Land Buildings$419,120-$419,120
Land$381,028-$381,028
Other Securities$37--
Compensation and Service Providers
Top Officer Pay36th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Brian BentlerLinemanFT$116,348$21,164$168,370
Michael JohnsonLinemenFT$117,172$49,445$167,740
Hal HalpernCEO/generalFT$158,543$7,388$165,931
Hal HalpernCEO/general Manager-$158,543$39,297$165,931
Larry SandretskyLinemanFT$109,879$45,781$162,227
Vince UdenbergLinemenFT$111,960$55,783$161,104
Chase PetersonLinemenFT$119,346$37,442$156,788
Spring DetlefsenOffice ManagFT$87,192$53,612$140,804
Steve WattnemGeneral ManaFT$60,498$11,963$72,461
Greg LienDirectorPT$8,560-$8,560
Alis StevensSecretaryPT$8,340-$8,340
Peggy KuettelPresidentPT$7,580-$7,580
Scott VeitenheimerTreasurerPT$6,480-$6,480
Robert NikolaiVice PresidePT$6,260-$6,260

Highest Paid Contractors

ContractorServicesLocationCompensation
Central Applicators INCLine Clearing3190 HWY 25 NE, PO BOX 279, Foley, MN 56329$140,143
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$12,919,640
Investment Income
$193,941
Other Revenue
$410,824
Change in Net Assets
$130,787

Audited Revenue Reconciliation

Revenue per Audited Statements
$13,524,405
Total Revenue per Audited Statements
$13,524,405
Total Revenue per Form 990
$13,524,405
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$12,638,227
Salaries, Compensation, and Employee Benefits$416,416
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion---$1,167,757
Interest---$485,604
Other Expenses---$474,693
All Other Expenses---$474,519
Current Officers, Directors, Trustees, and Key Employees---$416,416
Benefits to Members---$338,975
Total Functional Expenses$0$0$0$13,393,618

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$13,393,618
Expenses per Audited Statements$13,054,643
Total Expenses per Audited Statements$13,054,643
Expenses Not Reported on Financial Statements$338,975
Other Expense Adjustments$338,975
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$55,604
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
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
2020-06-18
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
24

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 25,001”

Financial Statement Notes

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

“Book/tax difference: retirement of capital credits 338,975”

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IRS990/LandBldgEquipBasisNetGrp/EOYAmt019452749
IRS990/LandBldgEquipCostOrOtherBssAmt037291506
IRS990/LegalDomicileStateCd0MN
IRS990/LoanOutstandingInd0false
IRS990/LocalChaptersInd0false
IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembersAndShrGrossIncomeAmt013015795
IRS990/MembersOrStockholdersInd0true
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0ELECTRIC ENERGY DISTRIBUTION
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IRS990/MoreThan5000KToOrgInd0false
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IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt012693964
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IRS990/NetAssetsOrFundBalancesEOYAmt015343556
IRS990/NetGainOrLossInvestmentsGrp/ExclusionAmt02106
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt02106
IRS990/NetIncomeOrLossGrp/RelatedOrExemptFuncIncomeAmt096155
IRS990/NetIncomeOrLossGrp/TotalRevenueColumnAmt0170854
IRS990/NetIncomeOrLossGrp/UnrelatedBusinessRevenueAmt074699
IRS990/NondeductibleContributionsInd0false
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501cInd0X
IRS990/OrgDoesNotFollowFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt0168607
IRS990/OtherAssetsTotalGrp/EOYAmt0160113
IRS990/OtherChangesInNetAssetsAmt025001
IRS990/OtherExpensesGrp/Desc0COST OF POWER
IRS990/OtherExpensesGrp/Desc1DISTRIBUTION EXPENSE
IRS990/OtherExpensesGrp/Desc2ADMINISTRATIVE & GENERAL
IRS990/OtherExpensesGrp/Desc3CUSTOMER SERVICE AND INFO
IRS990/OtherExpensesGrp/TotalAmt07549248
IRS990/OtherExpensesGrp/TotalAmt11679262
IRS990/OtherExpensesGrp/TotalAmt2807144
IRS990/OtherExpensesGrp/TotalAmt3474693
IRS990/OtherLiabilitiesGrp/BOYAmt047492
IRS990/OtherLiabilitiesGrp/EOYAmt055604
IRS990/OtherRevenueMiscGrp/BusinessCd0900099
IRS990/OtherRevenueMiscGrp/BusinessCd1900099
IRS990/OtherRevenueMiscGrp/Desc0COOPERATIVE CAPITAL CREDITS
IRS990/OtherRevenueMiscGrp/Desc1OTHER CAPITAL CREDITS
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt0219368
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt120602
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt0219368
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt120602
IRS990/OtherRevenueTotalAmt0239970
IRS990/OtherSourcesGrossIncomeAmt0316655
IRS990/PartialLiquidationInd0false
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt01259710
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt01072700
IRS990/PrincipalOfficerNm0HAL HALPERN
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0221000
IRS990/ProgramServiceRevenueGrp/Desc0ELECTRIC REVENUE
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt012919640
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt012919640
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYBenefitsPaidToMembersAmt0331594
IRS990/PYInvestmentIncomeAmt0132331
IRS990/PYOtherExpensesAmt012469026
IRS990/PYOtherRevenueAmt0406814
IRS990/PYProgramServiceRevenueAmt012968753
IRS990/PYRevenuesLessExpensesAmt0285965
IRS990/PYSalariesCompEmpBnftPaidAmt0421313
IRS990/PYTotalExpensesAmt013221933
IRS990/PYTotalRevenueAmt013507898
IRS990/ReconcilationRevenueExpnssAmt0130787
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0true
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0true
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt015187768
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt015343556
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0945263
IRS990/SavingsAndTempCashInvstGrp/EOYAmt01389641
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt01236738
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0934906
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt02171644
IRS990ScheduleD/EquipmentGrp/BookValueAmt017415863
IRS990ScheduleD/EquipmentGrp/DepreciationAmt016903851
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt034319714
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt0338975
IRS990ScheduleD/ExpensesSubtotalAmt013054643
IRS990ScheduleD/LandGrp/BookValueAmt0381028
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0381028
IRS990ScheduleD/OtherExpensesNotIncludedAmt0338975
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0419120
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0419120
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt055604
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0CUSTOMER DEPOSITS
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt05555783
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt1672785
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt2309762
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt396544
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt486138
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt518463
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt67141
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/RevenueSubtotalAmt013524405
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0BOOK/TAX DIFFERENCE: RETIREMENT OF CAPITAL CREDITS 338,975
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 4, PART XII, LINE 4B
IRS990ScheduleD/TotalBookValueLandBuildingsAmt019452749
IRS990ScheduleD/TotalBookValueSecuritiesAmt06747661
IRS990ScheduleD/TotalExpensesPerForm990Amt013393618
IRS990ScheduleD/TotalLiabilityAmt055604
IRS990ScheduleD/TotalRevenuePerForm990Amt013524405
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt013524405
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt013054643
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/CompensationSurveyInd0X
IRS990ScheduleJ/EquityBasedCompArrngmInd0false
IRS990/ScheduleJRequiredInd0true
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0158543
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt1117172
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt2119346
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt3111960
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt4109879
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt5116348
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt031909
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt130786
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt230786
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt337425
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt430858
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt07388
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt118659
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt26656
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt318358
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt414923
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt521164
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0HAL HALPERN
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1MICHAEL JOHNSON
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm2CHASE PETERSON
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm3VINCE UDENBERG
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm4LARRY SANDRETSKY
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm5BRIAN BENTLER
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0CEO/GENERAL MANAGER
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt1LINEMEN
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt2LINEMEN
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt3LINEMEN
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt4LINEMAN
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt5LINEMAN
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0165931
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt1167740
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt2156788
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt3161104
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt4162227
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt5168370
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 25,001
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

Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$30,855,710
Liabilities
$15,512,154
Net assets
$15,343,556
Revenue
$13,524,405
Expenses
$13,393,618
Net income
$130,787
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
2019Detailed filing. Detailed filing data is available for this year.$30.9$15.5$15.3$13.5$13.4$0.13
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$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