2023-05-03T17:11:38-07:00 2022-12-31 990 2022-01-01 450166406 MINNKOTA POWER COOPERATIVE INC MINN 7017954000 5301 32nd Avenue South Grand Forks ND 58201 Robert McLennan President & CEO 7017954000 2023-05-15 1 1 11 0 AAL2 2022 2023-04-26 12:10:37Z ROBERT MCLENNAN 5301 32ND AVE S GRAND FORKS ND 58201 451623057 0 X www.minnkota.com X 1940 MN Minnkota Power Cooperative is a rural electric cooperative that generates and transmits electric power for eleven member cooperatives. 11 11 418 0 0 0 0 0 402032396 447046055 1563539 1262529 3085047 3314473 406680982 451623057 0 0 0 0 3815168 4814677 0 0 0 381358288 427893470 385173456 432708147 21507526 18914910 1140468068 1158057527 949873776 944460489 190594292 213597038 Minnkota Power is a rural electric cooperative that generates and transmits electric power. 0 0 Minnkota Power is a rural electric cooperative that generates and transmits electric power. 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 1 1 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 1 0 0 1 150 0 1 418 1 0 0 0 0 0 417724700 29321355 0 0 0 X 11 11 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 1 0 ND X Minnkota Power Cooperative Inc Kay Schraeder - Vice President and CFO 7017954000 5301 32nd Avenue South Grand Forks ND 58201 Robert McLennan President & CEO 40 0 X 986822 0 185650 Lowell Stave Vice President and COO 40 0 X 376329 0 78423 Gerad Paul General Counsel-VP of Legal, Compliance & Risk Mgmt 40 0 X 346487 0 77423 Jami Hovet Vice President of Administration 40 0 X 290622 0 71739 Kay Schraeder Vice President and CFO 40 0 X 285877 0 75121 Craig Bleth Vice President of Project Development 40 0 X 267771 0 72586 Dan Inman Vice President and CISO 40 0 X 267538 0 65391 Gerry Pfau Senior Manager of Project Development 40 0 X 261782 0 42894 Todd Sailer Vice President of Power Supply 40 0 X 228758 0 64743 Andrew Sorbo Vice President Strategic Initiatives 40 0 X 206250 0 60178 Grant Gunderson Senior Manager Power Delivery Operations 40 0 X 198065 0 61400 Brendan Kennelly Vice President of Power Delivery 40 0 X 192776 0 61392 Stacey Dahl Senior Manager of External Affairs 40 0 X 192282 0 61129 Theresa Brorby Senior Manager of Internal Audit and Risk 40 0 X 185848 0 59371 Tim Hagerott Senior Manager of Power Production 40 0 X 183066 0 57101 Andrew Freidt Senior Manager or Resource PLanning 40 0 X 185740 0 46898 Les Windjue Board Chair 3.4 0 X X 3040 0 21880 Rick Coe Board Member 3.10 0 X 22280 0 0 Colette Kujava Board Secretary/Treasurer 3.4 0 X X 17914 0 0 Mark Habedank Board Vice Chair 3.4 0 X X 16060 0 0 Greg Spaulding Board Member 3.4 0 X 15600 0 0 Steve Arnesen Board Member 3.4 0 X 14910 0 0 Mike Wahl Board Member 3.4 0 X 14550 0 0 Anthony Ottem Board Member 3.2 0 X 14480 0 0 Kalvin Hoff Board Member 3.1 0 X 13160 0 0 Roger Krostue Board Member 3.4 0 X 12160 0 0 Tom Woinarowicz Board Member 3.2 0 X 11450 0 0 Marcy Svenningsen Board Member 2.5 0 X X 3060 0 0 4814677 0 1163319 227 1 1 0 Babcox and Wilcox Company PO Box 643957 Pittsburgh PA 152643957 Construction 16628835 Industrial Contractors Inc 701 Channel Dr Bismarck ND 585017706 Construction 6283087 Fluor Enterprises Inc One Fluor Daniel Drive Sugarland TX 77478 Construction 4067798 Baranko Brothers Inc PO Box 820 Dickenson ND 586020820 Construction 3834348 ST Cotter Turbine Services Inc 2135 196th St E Clearwater MN 55320 Construction 3843872 103 0 SALE OF ELECTRIC POWER 221000 447046055 447046055 0 0 0 0 0 0 447046055 1262529 1262529 0 0 0 0 0 0 1350000 1350000 0 0 0 0 0 0 MISC. NONOPERATING REVENUE 221000 1964473 1964473 0 0 0 0 0 0 1964473 451623057 451623057 0 0 4814677 26553711 30705861 PRODUCTION AND PURCHASED POWER 320146187 TRANSMISSION AND SUBSTATION 32435473 GENERAL AND ADMINISTRATIVE 18052238 432708147 0 0 0 177724 4523637 48492608 57423489 34755120 37269255 12089149 11858620 1363748037 388622676 982070754 975125361 62882713 71857165 1140468068 1158057527 91267703 81103237 804460468 803851236 54145605 59506016 949873776 944460489 X 1136 1136 0 0 190593156 213595902 190594292 213597038 1140468068 1158057527 X 18914910 0 0 0 0 4087836 X 0 1 X 1 0 0 34577350 34577350 0 1329170687 388622676 940548011 0 0 0 0 0 0 0 0 0 0 0 0 975125361 0 0 Investments in Associated Companies 140102 F Other Investments 71717063 F 71857165 POST RETIREMENT HEALTH INSURANCE OBLIGATION 3078049 CLOSURE COST OBLIGATIONS 3091562 DEFFERRED CREDITS 53336405 59506016 X 451623057 0 0 0 0 0 451623057 0 0 0 451623057 432708147 0 0 0 0 0 432708147 0 0 0 432708147 Schedule D, Part X, Line 2 The cooperative evaluates its tax positions that have been taken or expected to be taken on income tax returns to determine if an accrual is necessary for uncertain tax positions. As of December 31, 2022 and 2021, the unrecognized tax benefit was zero. The cooperative will recognize future accrued interest and penalties related to unrecognized tax benefits in income tax expense if incurred. X 1 1 X X 0 1 0 Robert McLennan President & CEO 856898 0 108987 0 20938 0 173800 0 11850 0 1172473 0 0 0 Lowell Stave Vice President and COO 327330 0 11132 0 37867 0 48800 0 29623 0 454752 0 0 0 Gerad Paul General Counsel-VP of Legal, Compliance & Risk Mgmt 318060 0 7489 0 20938 0 48800 0 28623 0 423910 0 0 0 Kay Schraeder Vice President and CFO 278398 0 0 0 7478 0 46498 0 28623 0 360997 0 0 0 Jami Hovet Vice President of Administration 290221 0 0 0 401 0 47129 0 24610 0 362361 0 0 0 Dan Inman Vice President and CISO 267137 0 0 0 401 0 43662 0 21729 0 332929 0 0 0 Craig Bleth Vice President of Project Development 267370 0 0 0 401 0 42963 0 29623 0 340357 0 0 0 Todd Sailer Vice President of Power Supply 207013 0 0 0 21745 0 36120 0 28623 0 293501 0 0 0 Andrew Sorbo Vice President Strategic Initiatives 205812 0 0 0 438 0 31555 0 28623 0 266428 0 0 0 Grant Gunderson Senior Manager Power Delivery Operations 197597 0 0 0 468 0 32777 0 28623 0 259465 0 0 0 Brendan Kennelly Vice President of Power Delivery 192338 0 0 0 438 0 32769 0 28623 0 254168 0 0 0 Theresa Brorby Senior Manager of Internal Audit and Risk 181940 0 0 0 3908 0 30748 0 28623 0 245219 0 0 0 Tim Hagerott Senior Manager of Power Production 182628 0 0 0 438 0 29915 0 27186 0 240167 0 0 0 Stacey Dahl Senior Manager of External Affairs 191844 0 0 0 438 0 32506 0 28623 0 253411 0 0 0 Andrew Freidt Senior Manager or Resource PLanning 185302 0 0 0 438 0 29949 0 16949 0 232638 0 0 0 Gerry Pfau Senior Manager of Project Development 122993 0 0 0 138789 0 22156 0 20738 0 304676 0 0 0 Schedule J, Part I, Line 1a Robert McLennan, Lowell Stave, and Gerad Paul receive gross up non-qualified retirement plan compensation. All employees received a year end grossed up bonus. Schedule J, Part I, Line 4 The Board of Directors has adopted a 457(f) plan in which Robert McLennan may receive incentive compensation in 2026 and 2028, if all the terms of the plan are met. Form 990, Part VI, Section A, Line 6 Minnkota Power Cooperative has member cooperatives. Form 990, Part VI, Section A, Line 7a Minnkota Power Cooperative members elect members of the governing board at the annual meeting. Form 990, Part VI, Section A, Line 7b Minnkota Power Cooperative members approve the bylaw amendments. Form 990, Part VI, Section B, Line 11b The Form 990 is reviewed by the Board prior to the submission to the IRS. Form 990, Part VI, Section B, Line 12c The Minnkota Board of Directors has a "Code of Ethics and Business Conduct" policy with a section for "The Enforcement of the Code of Business and Ethics". This section directs the Board of Directors on how to report violations of the "Code of Business Ethics." Form 990, Part VI, Section B, Line 15 Compensation for the President & CEO is determined and approved by the Board of Directors. The Board also reviews and approves the compensation package for all employees. Form 990, Part VI, Section C, Line 19 Minnkota Power Cooperative will make the documents available upon request. Form 990, Part XI, Line 9 Other changes in net assets include Other Comprehensive Gains related to the pension plans and postretirement health insurance obligations. Lignite Electric Power Cooperative Inc 5301 32nd Avenue South Grand Forks ND 58201 456011575 Coal Leases ND Minnkota Power Coop C 518 2350 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0