2023-11-13T13:19:11-07:00 2022-12-31 990 2022-01-01 381101255 THUMB ELECTRIC COOPERATIVE OF MICHIGAN INC THUM 9896588571 2231 Main Street Ubly MI 48475 Deborah Peruski Office Services Manager 9896588571 2023-11-13 1 1 11 0 AAL2 2022 2023-04-26 12:10:37Z Deborah Peruski 2231 Main St Ubly MI 48475 28219386 0 X www.tecmi.coop X 1937 MI Electric Cooperative with Broadband 9 9 47 0 594781 0 0 0 24137746 27510812 82975 637946 50132 51939 24270853 28200697 0 0 1871021 1448143 4889548 5624991 0 0 0 17843164 19953529 24603733 27026663 -332880 1174034 121318630 142582924 91875386 110594045 29443244 31988879 Electric Cooperative with Fiber Division. 0 0 Electric power and services provided to 12,389 members. The Fiber Division provided broadband to 416 members. 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 1 18 0 1 47 1 1 1 0 0 0 0 24643796 1748971 0 0 0 X 9 9 0 0 0 0 1 1 1 1 0 0 0 1 1 1 1 1 1 1 1 0 X Deborah Peruski 9896588571 2231 Main Street Ubly MI 48475 X Bradley Essenmacher Broadband Manager 40 X 190585 0 120678 Dallas Braun General Manager 40 X 279301 0 31417 Deborah Peruski Finance Executive 40 X 116876 0 164807 Jeffrey Swick Lineman 40 X 153661 0 76670 Jim Vogel Lineman 40 X 169163 0 55112 Gary Burns Jr Lineman 40 X 174757 0 38315 Jason Lawhorn Lineman 40 X 160941 0 43116 Mike Cleland Lineman 40 X 155768 0 44029 Kim Nunn Vice President 2 X X 12813 0 0 Jonathan Findlay President 2 X X 10150 0 0 Matt Sommer Director 2 X 10113 0 0 Craig Osentoski Director 2 X 10063 0 0 Mike Briolat Director 2 X X 8513 0 0 Randall Dhyse Treasurer 2 X X 8463 0 0 Louis Wenzlaff Director 2 X 6813 0 0 Duane Kursinsky Director 2 X 5238 0 0 Beth McDonald Director (January-April) 2 X 2813 0 0 Erica Peruski Director 2 X 2000 0 0 1478031 0 574144 20 0 1 0 Pulse Broadband LLC 2121 Cooperative Way Ste 600 Herndon VA 20171 Fiber Design/Materials 11902525 Lecom Construction 16671 Common Rd Roseville MI 48066 Fiber Contractor 4506518 Kappen Tree Service 2675 Hurds Corner Road Cass City MI 48726 Tree Trimming 2205199 RESCO PO Box 44430 Madison WI 537444430 Line/Fiber Materials 1730463 IRBY PO Box 741001 Atlanta GA 30384 Line/Fiber Materials 1669320 12 0 Sales of Electricity 221000 24315377 24315377 0 0 Service Fees 221000 104615 104615 0 0 Capital Credits 221000 637706 637706 0 0 Fiber Revenue/RDOF 517000 2358431 2358431 0 0 Pole Attachments 221000 94683 0 0 94683 0 0 0 0 27510812 636152 0 594781 41371 0 0 0 0 0 0 0 0 0 62674 0 7608 0 55066 55066 0 0 55066 0 1794 0 0 0 1794 1794 0 0 1794 7954 11081 -3127 -3127 0 0 0 28200697 27413002 594781 192914 X 0 0 0 1448143 818441 3769540 0 714566 0 322444 0 0 0 0 0 0 0 0 0 0 0 1065071 0 0 0 2682633 0 3023535 0 Cost of Power 11347146 Distribution 4231551 Member Service & Administrative 3228584 Other Expenses -5624991 27026663 0 0 0 0 0 3675625 1789360 0 0 5731579 5629904 6833778 10786066 160202 202416 136856645 34548097 83334174 102308548 21501770 21818350 81502 48280 121318630 142582924 11780919 12617661 878482 791528 79215985 97184856 0 0 91875386 110594045 X 188026 190495 0 0 29255218 31798384 29443244 31988879 121318630 142582924 X 1174034 0 0 0 0 1371601 X 0 1 X 1 0 0 1045924 1045924 0 2663061 1278016 1385045 0 0 0 0 0 112129227 33270081 78859146 0 21018433 0 21018433 102308548 Vacant Land 12000 C Hogan Property 67837 C Associated Organizations-Patronage Capital 1343309 C TEsC 179601 C Air Advantage LLC 19496028 C Capital Term Certificates 719575 C 21818350 0 X Schedule D, Part X, Line 2 The Cooperative is exempt from federal income tax under Section 501 (c)(12) of the United States Internal Revenue Code, therefore, no provision for federal income tax is recorded. However, income from unrelated business activities is subject to income tax at normal corporate rates. The Cooperative has adopted the provisions of FASB Accounting Codification Topic ASC 710-10. The Cooperative had no unrecognized tax benefits as of December 31, 2022 and 2021. The Cooperative will recognize future accrued interest and penalties related to unrecognized tax benefits in income tax expense if such penalties and interest are incurred. Under normal circumstances, the Cooperative is no longer subject to Federal and State tax examinations by tax authorities for the years before 2019. X X 0 0 0 Bradley Essenmacher Broadband Manager 186550 0 0 0 4035 0 100486 0 23505 0 314576 0 Dallas Braun General Manager 275696 0 0 0 3605 0 10317 0 25504 0 315122 0 Deborah Peruski Finance Executive 115248 0 0 0 1628 0 156674 0 10116 0 283666 0 Jeffrey Swick Lineman 152280 0 0 0 1381 0 57438 0 21122 0 232221 0 Jim Vogel Lineman 168672 0 0 0 491 0 34424 0 22511 0 226098 0 Gary Burns Jr Lineman 174567 0 0 0 190 0 19083 0 21052 0 214892 0 Jason Lawhorn Lineman 160707 0 0 0 234 0 30181 0 14746 0 205868 0 Mike Cleland Lineman 155548 0 0 0 220 0 24797 0 21053 0 201618 0 Form 990, Part VI, Section A, Line 6 The Cooperative has members. Each member has one voting right. Form 990, Part VI, Section A, Line 7a The Board of Directors is elected by the members. Form 990, Part VI, Section A, Line 7b Members vote on items affecting the bylaws of the Cooperative. Form 990, Part VI, Section A, Line 8b There are no other committees that act on behalf of the governing Board. Form 990, Part VI, Section B, Line 11b The Form 990 is reviewed and approved by the General Manager and Office Services Manager. The form is then provided to the Board before it is filed with the IRS. Form 990, Part VI, Section B, Line 12c The Board and Management staff conduct a yearly review for any conflicts. The General Manager reviews the documents and determines if a conflict exists. If a conflict exists, the General Manager would request that individual abstain from voting. Form 990, Part VI, Section B, Line 15 The Board annually reviews and approves the compensation for the General Manager and Office Services Manager in conjunction with NRECA compensation study. The Board review and approval is substantiated in the Board minutes. Form 990, Part VI, Section C, Line 19 The governing documents, conflict of interest policy and financial statements are available to the public upon request. Form 990, Part VII, Section A, Line 1a The amounts listed in Column F are the actuarial estimates of the increase in the value of the employees defined benefit pension. The actual current year expense for the defined benefit pension plan was: Bradley Essenmacher $48,034, Dallas Braun $64,520, Deborah Peruski $29,330, Jeffrey Swick $22,161, James Vogel $22,161, Gary Burns Jr $22,161, Jason Lawhorn $22,161, and Michael Cleland $22,161. Dallas Braun had no actuarial change due to his retirement on 12/31/2022. Form 990, Part IX, Line 4 The Cooperative has interpreted the instructions to this line and section to mean patronage capital allocated for the year, rather than patronage capital retired. This is consistent with the Cooperative bylaws. Form 990, Part IX, Line 5 Because Line 5 captures only the current year expense of the defined benefit pension plan of the Cooperative, the compensation in Part IX, Line 5 is less than that reported on Part VII. Form 990, Part IX, Line 24e Other expense, salaries, pension and payroll taxes reported on Line 5-10 are already included in distribution expenses, administrative & general and consumer expenses. Therefore, these amounts are being subtracted out as an other deduction on Line 24E in the amount of ($5,624,991). Form 990, Part XI, Line 9 Change in net asset value. Memberships Issued $2,470, Other Equity Transactions $115,331, Retirement of Patronage Capital ($608,406), Patronage Capital Allocation $1,448,143, and Change in Investment of Subsidiary $414,063. Total amount on Part XI, Line 9 is $1,371,601. Thumb Energy Services Incorporated 2231 Main Street Ubly MI 48475 383291674 Holding Company MI Thumb Electric Cooperative C 5950761 20692506 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 1 1 Thumb Energy Services Incorporated a-i 594781 General Ledger/Loan Document Thumb Energy Services Incorporated n 26267 General Ledger Thumb Energy Services Incorporated o 622862 Direct Labor Distribution Thumb Energy Services Incorporated r 125000 General Ledger Thumb Energy Services Incorporated s 581090 General Ledger Schedule R, Part V, Line 2 Air Advantage LLC is a disregarded entity of Thumb Energy Service Inc.