2023-11-06T17:00:06+00:00 2022-12-31 350921680 CROWE LLP 225 West Wacker Drive Suite 2600 Chicago IL 606061224 990 2022-01-01 383560640 Wolverine Power Marketing Cooperative Inc WOLV 2317757500 10125 West Watergate Road Cadillac MI 49601 Daniel Decoeur President & CEO 2317757500 2023-11-06 true Daniel Decoeur 999009999 true Jennifer Burke P01342224 3128997000 2022 2023-04-26 12:10:37Z Daniel Decoeur 10125 West Watergate Road Cadillac MI 49601 122212710 false X www.WPMC.coop X 2000 MI PROVIDING ELECTRIC POWER TO MEMBERS 7 7 0 0 0 0 0 0 92033693 121097592 1114085 1115118 0 0 93147778 122212710 0 15000 1482395 1631651 55275 50075 0 0 0 91610108 120515984 93147778 122212710 0 0 31666206 33721152 10918256 11341551 20747950 22379601 provide affordable power supply to our members through flexible and creative pricing solutions. false false WOLVERINE POWER MARKETING COOPERATIVE (WPMC) PROVIDES RETAIL ELECTRIC SERVICES AS AN ALTERNATIVE ELECTRIC SUPPLIER SERVING 20 MEMBER-OWNERS. 0 false false false false false false false false false true false false true false true false false false false false false false false false false true false false false false false false false false false false false false false false false false true 4 0 true 0 false false false false false 121097592 1115118 false false false X 7 7 false true false false true true true true false false false true true true true true true false false false X Richard M Kohler 2317757500 10125 West Watergate Road Cadillac MI 49601 Brian Taivalkoski Board Secretary / Treasurer (beginning 3/15/22) 1.3 0.0 X X 7300 0 0 Chad Stirrett Board Vice Chairman (beginning 3/15/22) 0.6 0.0 X X 6425 0 0 Daniel Sovinski Board Secretary / Treasurer (ending 3/05/22) 0.1 0.0 X X 0 0 0 James Felch Board Chairman (ending 3/15/22) 0.2 0.0 X X 1775 0 0 Rob Hunter Vice Chairman / Chairman (transitioned 3/15/22) 1.2 0.0 X X 7500 0 0 Dan Taylor Director 0.1 0.0 X 4350 0 0 Larry Hermanson Director 2.5 0.0 X 9850 0 0 Mike Kuhn Director 0.9 0.0 X 6450 0 0 Rence Meredith Director (Beginning 3/16/22) 0.7 0.0 X 6425 0 0 Daniel H DeCoeur President & CEO 31.6 0.0 X 0 0 0 Richard M Kohler CFO 7.0 0.0 X 0 0 0 50075 0 0 0 false false false Wolverine Power Supply Cooperative Inc 10125 W Watergate Rd Cadillac MI 49601 Mgmt & Admin Services 541742 1 0 0 0 0 0 0 0 0 Electric Power Resale 221000 121097592 121097592 0 0 0 0 0 0 121097592 1115118 980910 134208 0 0 0 0 0 0 0 0 0 122212710 122078502 0 134208 15000 1631651 50075 541742 68570 18650 0 3218 4138 19690 19587 54304 Purchased Power 119290741 Membership Dues and Subscriptions 120848 Board and Other Meeting Expenses 18865 RPS Compliance 280000 75631 122212710 1664279 1586401 9624671 10727684 0 0 0 60725 364059 0 0 0 20312351 21016460 0 4180 26548 31666206 33721152 9648256 10421551 0 1270000 920000 10918256 11341551 X 0 0 3900 3900 20744050 22375701 20747950 22379601 31666206 33721152 X 0 1631651 X false true X true false PATRONAGE CAPITAL CREDITS & MEMBERSHIPS 13089100 C INVESTMENT SECURITIES MATURING WITHIN A YEAR 7927360 C 21016460 MEMBER / CUSTOMER DEPOSITS 920000 920000 122212710 0 0 122212710 0 0 122212710 120581059 0 0 120581059 1631651 1631651 122212710 Schedule D, Part X, Line 2 Member - Customer Deposits: Cooperative member's deposits required by their contracts. $920,000 Schedule D, Part XII, Line 4(b) Other expenses in form 990 not in audited financial statements Patronage Allocated to Member Owners - 1631651 true Michigan Tech Fund 1400 Townsend Drive Houghton MI 49931 381554664 501(c)(3) 15000 General Support 1 0 Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds. The Coop makes a general donation directly to the Michigan Tech Fund (MTF) for the Michigan Technological University (MTU) scholarship fund. MTU/MTF selects the scholarship recipients and handles the distribution of funds, so no further monitoring of the funds is required by the Coop. Form 990, Part VI, Line 15b Other Compensation The Cooperative's member-customers are represented by a Board of Directors ("BOD") elected by the membership. The BOD is entitled to receive a daily per diem for meetings attended, a quarterly retainer fee, and reimbursement of actual out of pocket expenses. As such, in accordance with the Form 990 instructions for Part IV, Section B, Line 15B has been answered no. For all directors listed in Part VII, the per diem and quarterly retainer fee reimbursement is reported in Part VII, Section A, Column D, however in many instances the payment is made directly to the member organization that the director represents, based on the following policy. Each member, with a director on board, has four options for compensation: (1) The member declines its director's per diem and quarterly fee, but the director is reimbursed for all out-of-pocket expenses. (2) The member chooses to have its director's per diem, quarterly retainer fee, and director's expense paid directly to its director for which a yearly form 1099-NEC will be issued to them. (3) The member chooses to have its director's per diem, quarterly retainer fee, and director's expenses paid directly to itself, which is a member of the cooperative. (4) The member chooses to have its director's compensation and expenses donated by the cooperative on an annual basis to the charitable organization of the member's choice. In 2022 only directors Brian Taivalkoski and Dan Taylor received director compensation for which a 1099-NEC was issued to the individual. Form 990, Part VI, Line 15a Officer Compensation The CEO and CFO are included in the agreement for management and administrative services with Wolverine and are neither employees nor independent contractors of WPMC. As such, in accordance with the Form 990 instructions for Part IV, Section B, Line 15A has been answered no. Form 990, Part VI, Line 1a Delegate broad authority to a committee The Executive Committee and Nominating Committee shall consist of the Chairperson and not more than two (2) additional members of the Board of Directors. The committees have the powers and authority to conduct the general management of the affairs of the Coop as are regularly exercised by such committee directors' overall control and direction. Form 990, Part VI, Line 3 Delegation of management duties WPMC ENTERED INTO AN AGREEMENT FOR MANAGEMENT AND ADMINISTRATIVE SERVICES WITH WOLVERINE. THE AGREEMENT REQUIRES WPMC TO PAY WOLVERINE A FEE FOR MANAGEMENT, MARKETING, AND OTHER ADMINISTRATIVE SERVICES RENDERED UNDER THE AGREEMENT. TOTAL FEES INCURRED UNDER THIS AGREEMENT IN 2022 WERE $541,742; $336,985 OF WHICH WAS FOR THE WORK OF WPMC'S OFFICERS: DANIEL H. DECOEUR (CEO), AND RICHARD M. KOHLER (CFO). Form 990, Part VI, Line 6 Classes of members or stockholders WPMC IS A COOPERATIVE, AND AS SUCH, IT HAS MEMBERS WHO OWN IT. Form 990, Part VI, Line 7a Members or stockholders electing members of governing body WPMC'S MEMBERS ELECT REPRESENTATIVES TO THE BOARD OF DIRECTORS. Form 990, Part VI, Line 7b Decisions requiring approval by members or stockholders WHILE WPMC'S BOARD OF DIRECTORS ("BOD") IS EMPOWERED TO MAKE MOST BUSINESS DECISIONS, A FEW KEY DECISIONS MUST BE MADE BY A VOTE OF WPMC'S MEMBERS, SUCH AS AMENDING THE BYLAWS AND ELECTING BOD MEMBERS. Form 990, Part VI, Line 8b Documentation of meetings held by committees of governing body WPMC'S BOARD DOES NOT HAVE ANY COMMITTEES. Form 990, Part VI, Line 11b Review of form 990 by governing body PRIOR TO FILING THE FORM 990 ALL OF THE FOLLOWING REVIEWS TOOK PLACE: 1) THE CFO REVIEWED THE FORM 990 IN DETAIL, 2) THE PRESIDENT & CEO REVIEWED THE GENERAL CONTENT OF THE FORM 990, 3) A COMPLETE COPY OF THE FORM 990 WAS DISTRIBUTED TO EACH BOARD MEMBER FOR THEIR REVIEW, AND 4) AN OUTSIDE CPA REVIEWED THE FORM. Form 990, Part VI, Line 12c Conflict of interest policy EACH YEAR, THE BOARD DIRECTORS AND OFFICERS RESPOND IN WRITING TO A QUESTIONNAIRE ABOUT POTENTIAL CONFLICTS OF INTEREST. THESE RESPONSES ARE REVIEWED BY ACCOUNTING AND MADE AVAILABLE TO THE COOPERATIVE'S INDEPENDENT AUDITORS AS PART OF THEIR ANNUAL REVIEW. ANY CONFLICT (OR THE APPEARANCE OF A CONFLICT) OF INTEREST WOULD BE ADDRESSED AS SOON AS IT IS DISCOVERED. IF A CONFLICT IS DETERMINED TO OCCUR, THE PERSON INVOLVED IN THE CONFLICT IS RECUSED FROM PARTICIPATING IN THE DISCUSSION AND VOTING ON THE MATTER. Form 990, Part VI, Line 19 Required documents available to the public THE FORM 990 IS AVAILABLE UPON REQUEST. WPMC DOES NOT MAKE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICIES, OR FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC. Form 990, Part XI, Line 9 Other changes in net assets or fund balances Patronage Allocated to Members - 1631651; Form 990 General Explanation WOLVERINE POWER MARKETING COOPERATIVE, THE ORGANIZATION FILING THIS TAX RETURN, IS REFERRED TO AS "WPMC", AND WOLVERINE POWER SUPPLY COOPERTIVE, INC., IS REFERRED TO AS "WOLVERINE" IN ALL EXPLANATIONS ON THIS FORM.