2023-08-14T10:41:47-05:00 2022-12-31 450250958 Eide Bailly LLP 1730 Burnt Boat Loop Ste 100 Bismarck ND 585030886 990 2022-01-01 380289531 Alger Delta Cooperative Electric Association ALGE 9064284141 426 N 9th St Gladstone MI 49837 Lynn Labadie Finance Manager 9064284141 2023-08-10 1 Lynn Labadie 999009999 1 Lisa Chaffee CPA P00193453 7012551091 2023-08-10 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z Lynn Labadie 426 N 9th St Gladstone MI 49837 18706041 0 X www.algerdelta.com X 1937 MI Electrical distribution utility providing service to rural areas 8 8 22 0 0 0 373600 0 17277469 18675930 12610 30111 0 0 17663679 18706041 365 387 1172002 679486 2042632 2217956 0 0 0 14448680 15808212 17663679 18706041 0 0 51999429 54541428 34495857 36376967 17503572 18164461 Electrical distribution utility providing service to rural areas 0 0 Provided electrical service to the rural areas of Marquette, Alger, Delta, Dickinson, Schoolcraft and Menominee counties in the Upper Peninsula of Michigan a total of 9,075 members were served in 2022. 0 0 0 0 0 0 0 0 0 1 0 1 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 0 0 0 1 25 0 1 22 1 0 0 0 0 0 19335583 148062 0 0 0 X 8 8 0 0 0 0 1 1 1 1 0 0 0 1 1 1 1 1 1 1 1 1 0 X Lynn Labadie 9064284141 426 N 9th Street Gladstone MI 49837 X Darryl Small Director 1.63 X 5400 0 0 Dave Prestin Director(Jan-Oct) 2.83 X 4800 0 0 Don Johnson Director 5.12 X 12400 0 0 Doug Bovin Secretary/Treasurer (Until 12/22) 3.87 X X 11650 0 0 Jesse Betters Director Jan-Nov Treasurer (Beg Dec) 4.38 X X 6650 0 0 Karen Alholm VP 2.12 X X 6200 0 0 Kirk Bruno Director 6.21 X 10550 0 0 Michael Lawless President 1.87 X X 7300 0 0 Stephen Wery Director 2.37 X 7750 0 0 Lynn Labadie Finance Manager 40.00 X 94363 0 47852 Michael Furmanski General manager 40.00 X 153056 0 67248 Troy Tiernan Operations Manager 40.00 X 117243 0 60185 Brandon Lind Lineman 51.05 X 112969 0 38832 Cody Warren Lead Lineman 48.65 X 118974 0 31938 Jon Conger Lead Lineman 49.29 X 123629 0 43141 Thomas Viitala Lead Lineman 48.35 X 119070 0 22973 Todd Wilson Working Foreman (Jan-Sept) 52.01 X 123462 0 51232 1035466 0 363401 8 0 1 0 JMCA Construction LLC 3737 18th Road Escanaba MI 49829 Contractor of boring/underground wire 227170 Michigan Electric Cooperative Associatio 10125 W Watergate Road Cadillac MI 49601 Various shared services 126313 2 Electricity Sales 221000 18403401 18403401 Capital Credits 221000 153648 153648 ATC LLC Investment 900099 117951 117951 930 930 18675930 15111 15111 15000 0 15000 15000 15000 18706041 18675930 0 30111 X 387 679486 596922 1313958 178266 128810 1010036 2082338 Purchased Power 8913730 Distribution Expense 4173088 Administrative and Gene 901777 Customer Service Expens 251727 -1524484 18706041 385207 1968988 1709421 1802029 709949 963033 204631 144379 68401976 21513225 46348299 46888751 2639590 2770798 2332 3450 51999429 54541428 2271694 2339042 31574875 33413538 649288 624387 34495857 36376967 X 80923 80923 0 0 17422649 18083538 17503572 18164461 51999429 54541428 X 0 660889 X 0 1 X 1 0 375792 375792 967962 528684 439278 65642830 20984541 44658289 1415392 1415392 46888751 NRUCFC 407821 C RESC 220134 C Memberships 6912 C NISC 70557 C Other 9903 C American Transmission Company, LLC 1552605 C Federated Insurance 101440 C CoBank Patronage capital credits 401336 C ATC Management, Inc. 90 C 2770798 Customer Deposits 175480 Deferred Credits 448907 624387 X 18699000 -7041 -7041 18706041 0 18706041 18019514 0 18019514 686527 686527 18706041 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, 2022 and 2021, 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 XI, Line 2d - Other Adjustments: Interest Expense Reported In Expenses on Form 990 -7,041. Part XII, Line 4b - Other Adjustments: Patronage Capital Credits Allocated During Current Year 679,486. Interest Expense Reported In Revenue on Audited Financials 7,041. X X X X X 0 0 0 Michael Furmanski General manager 150282 0 0 0 2774 0 35319 0 35699 0 224074 0 0 0 Troy Tiernan Operations Manager 116433 0 0 0 810 0 34457 0 28270 0 179970 0 0 0 Todd Wilson Working Foreman (Jan-Sept) 122793 0 0 0 669 0 30790 0 21659 0 175911 0 0 0 Jon Conger Lead Lineman 123256 0 0 0 373 0 16418 0 28345 0 168392 0 0 0 Brandon Lind Lineman 112735 0 0 0 234 0 9946 0 30246 0 153161 0 0 0 Cody Warren Lead Lineman 118765 0 0 0 209 0 12486 0 21073 0 152533 0 0 0 Schedule J, Part II, column C, Deferred Compensation: Included in other compensation is the estimated current year increase in the actuarial value of the defined benefit plan. These amounts do not represent any current year contributions to the plan. They are estimates of the increase in the actuarial value of the plan received from the NRECA. The current year expense and the increase in actuarial value for each employee is reflected in the Schedule O statement for Form 990, Part VII, column F. Form 990, Part VI, Section A, line 6 Alger Delta Cooperative is an electric cooperative providing electricity to customers in nine rural districts. Each customer is a member of the Cooperative with one voting right each. Form 990, Part VI, Section A, line 7a Alger Delta Cooperative is an electric Cooperative consisting of nine districts. The members in each district nominate and vote for their director. Each director is elected for a term of three years. Three directors are elected each year. Form 990, Part VI, Section A, line 7b Members retain the right to vote on the sale, merger, acquisition or dissolution of the cooperative; members have the right to vote to reinstate expelled members; they have the right to vote to elect or remove their district representative (board member); and they have the right to vote to amend the bylaws of the organization. Form 990, Part VI, Section A, line 8b There are no committees that can act on behalf of the governing board. Form 990, Part VI, Section B, line 11b The Form 990 is reviewed by the CFO. It is also provided at a board meeting for the Board's review and approval prior to being filed with the IRS. Form 990, Part VI, Section B, line 12c All employees and Directors are annually required to review the conflict of interest policy and disclose if they have an actual or potential conflict of interest. The General Manager reviews all reported actual or potential conflicts to determine if a conflict exists. The Board of Directors reviews the General Manager and other manager disclosures. If an actual or potential conflict is determined to exist that individual must abstain from any participation relative to the conflicting issue(s). Form 990, Part VI, Section B, line 15 The Board annually reviews and approves the CEO's and CFO's performance based on the performance review and the National Compensation Survey. The deliberation process was substantiated in board minutes. Form 990, Part VI, Section C, line 19 Each new member is referred to a copy of the company's by-laws on our website. The governing documents and the financial statements are available on our website. They are also available upon request, along with the conflict of interest policy. Form 990, Part VII, Section A, Column (F) Included in column "F", estimated amount of other compensation, is the estimated annual increase in the actuarial value of the defined benefit plan. The estimated increase for Michael Furmanski:$35,319 Lynn Labadie: $20,145 Troy Tiernan: $34,457 Jonathan Conger: $16,418 Tom Viitala: $14,468 Cody Warren: $12,486 Todd Wilson: $30,790 Brandon Lind: $8,533 These amounts are estimates in the increase of the value of the plan and are not current year expenses of the cooperative. The current year expense for this defined benefit plan was as follows: Michael Furmanski:$27,054 Lynn Labadie: $14,932 Troy Tiernan: $24,002 Jonathan Conger: $18,227 Tom Viitala: $18,227 Cody Warren: $18,227 Todd Wilson: $14,690 Brandon Lind: $15,288 Form 990, Part IX, Statement of Functional Expenses, Line 24e The labor, pension, and payroll taxes reported on lines 5-10 are already included in distribution expense, administrative & general expense and customer expense. Therefore, these amounts are being subtracted out as an other deduction included on line 24e in the amount of $(2,217,956). Form 990, Part IX, Line 4 The Cooperative has interpreted the instructions to Part IX, Line 4, to mean patronage capital allocated for the year, rather than patronage capital retired. This is consistent with the Bylaws of the Cooperative. Form 990, Part XI, line 9: Patronage Capital Credits Allocated for the Current Year 679,486. Retirement of Capital Credits -58,694. Unclaimed Credits 40,097.