2024-11-08T08:45:20-06:00 2023-12-31 450310328 BRADY MARTZ & ASSOCIATES PC PO BOX 14296 GRAND FORKS ND 582084296 990 2023-01-01 410501059 RENVILLE - SIBLEY COOPERATIVE POWER ASSOCIATION RENV 3208262593 515 HWY 212 W DANUBE MN 56230 DEEANNE NORRIS CEO 3208262593 2024-11-01 1 0 DAVID HOLT P00014251 7017754685 2024-10-31 2023 2024-10-15 13:58:12Z DEEANNE NORRIS 515 HWY 212 W DANUBE MN 56230 17249467 0 X WWW.RSCPA.COOP X 1938 MN TO PROVIDE ELECTRIC SERVICE TO MEMBERS. 9 9 20 0 -2994 0 0 0 14704443 15895247 237989 213283 1452180 1140937 16394612 17249467 19000 17996 1864651 1787955 467676 767270 0 0 0 14043285 14676246 16394612 17249467 0 0 53050919 53881804 31829192 31142086 21221727 22739718 TO PROVIDE ELECTRIC SERVICE TO MEMBERS. 0 0 THE COOPERATIVE ENGAGES IN THE DISTRIBUTION AND SALE OF ELECTRICAL POWER TO ITS MEMBERS IN WESTERN MINNESOTA. 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 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 26 0 1 20 1 1 1 0 0 0 0 15895247 743608 0 0 0 X 9 9 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X X THE ORGANIZATION 3208262593 PO BOX 68 DANUBE MN 56230 X GARY EEKHOFF DIRECTOR 3.40 X 7963 0 0 ROGER MANTHEI CHAIRMAN 4.30 X 7225 0 0 GARY PETERSON DIRECTOR 2.30 X 5300 0 0 HELEN RUEBEL DIRECTOR 2.30 X 4950 0 0 KYLIE RIEKE DIRECTOR (THROUGH SEPTEMBER 2023) 2.90 X 4690 0 0 WAYLAND ZASKE SECRETARY/TREASURER 1.60 X 4375 0 0 ALAN HINDERMAN VICE CHAIRMAN 1.70 X 3979 0 0 ALAN NEYERS DIRECTOR 1.80 X 3550 0 0 JEFF BOERSMA DIRECTOR (STARTED APRIL 2023) 1.60 X 2600 0 0 VICKY FIRLE DIRECTOR (STARTED OCTOBER 2023) 1.10 X 1425 0 0 MATTHEW HAUBRICH DIRECTOR (THROUGH MARCH 2023) 2.00 X 1100 0 0 DEEANNE NORRIS CEO 50.00 X 233776 0 124601 GENE ALLEX LINE SUPERINTENDENT 40.00 X 108195 0 61902 CINDY MERTENS ADMINISTRATIVE SERVICES 45.00 X 80089 0 53170 NICK BRUNS TECHNOLOGY MANAGER 45.00 X 75216 0 35348 BRADLEY BRAULICK CREW CHIEF 40.84 X 107338 0 40642 SHAWN BECKLER CREW CHIEF 43.09 X 105749 0 46450 CLINT OLSON JOURNEYMAN LINEMAN 42.99 X 105728 0 19053 MIKE BENSON JOURNEYMAN LINEMAN 43.13 X 100921 0 35381 BRAYDEN FISCHER JOURNEYMAN LINEMAN 43.22 X 100667 0 32152 1064836 0 448699 7 0 1 0 MIDWEST UNDERGROUND OF MINNESOTA INC 4320 CTY RD 8 SE WILLMAR MN 56201 UNDERGROUND CABLE BURIAL 199731 STAR ENERGY 6841 POWER LANE SW ALEXANDRIA MN 56308 ENGINEERING 151086 2 SALE OF POWER 221000 15895247 15895247 15895247 213283 213283 CAPITAL CREDITS 523000 1143931 1143931 MESSENGER SECURITY 561499 -2994 -2994 1140937 17249467 17039178 -2994 213283 X 11140 6856 1787955 767270 748867 846857 COST OF POWER 10941226 DIST EXP - OPERATIONS 715038 ADMIN & GENERAL EXPENSE 632122 CONSUMER ACCT EXPENSES 427833 364303 17249467 6773078 3011755 2317836 1958348 853611 1290332 1562 5480 41610865 8162956 29842588 33447909 13262244 14167980 53050919 53881804 2708892 1748422 2481573 2592932 26483900 26660355 154827 140377 31829192 31142086 X 0 0 0 0 21221727 22739718 21221727 22739718 53050919 53881804 X 0 1517991 X X 0 1 X 1 0 1263715 1263715 6855008 430754 6424254 2642249 1897881 744368 30849893 5834321 25015572 33447909 PATRONAGE CAPITAL-EAST RIVER/BASIN 12294290 C PATRONAGE CAPITAL-OTHER 652031 C NRUCFC CAPITAL TERM CREDITS 431522 C NRUCFC MEMBER CAPITAL SECURITIES 100000 C ECONOMIC DEVELOPMENT LOANS 690137 C 14167980 CONSUMER DEPOSITS 22607 PATRONAGE CAPITAL PAYABLE 56421 ACCUMULATED PROVISION FOR SICK LEAVE 61349 140377 X 17249467 0 17249467 0 17249467 15461512 0 15461512 1787955 1787955 17249467 PART X, LINE 2: INCOME TAXES THE COOPERATIVE IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(12) OF THE INTERNAL REVENUE CODE. THE COOPERATIVE'S POLICY IS TO EVALUATE THE LIKELIHOOD THAT ITS UNCERTAIN TAX POSITIONS WILL PREVAIL UPON EXAMINATION BASED ON THE EXTENT TO WHICH THOSE POSITIONS HAVE SUBSTANTIAL SUPPORT WITHIN THE INTERNAL REVENUE CODE AND REGULATIONS, REVENUE RULINGS, COURT DECISIONS, AND OTHER EVIDENCE. UNCERTAIN TAX POSITIONS IT IS THE OPINION OF MANAGEMENT THAT THE COOPERATIVE HAS NO SIGNIFICANT UNCERTAIN TAX POSITIONS THAT WOULD BE SUBJECT TO CHANGE UPON EXAMINATION. THE FEDERAL INCOME TAX RETURNS OF THE COOPERATIVE ARE SUBJECT TO EXAMINATION BY THE IRS, GENERALLY FOR THREE YEARS AFTER THEY WERE FILED. TAX FILINGS ARE CURRENT. PART XII, LINE 4B - OTHER ADJUSTMENTS: ALLOCATED CAPITAL CREDITS 1,787,955. 1 UNITED COMMUNITY ACTION PARTNERSHIP INC 200 4TH STREET SW WILLMAR MN 56201 410904860 501(C)(3) 10000 0 ASSIST LOW INCOME APPLICANTS WITH VARIOUS WEATHERIZATION CONCERNS. 1 SCHOLARSHIPS 15 6856 PART I, LINE 2: GRANTS ARE PAID TO OTHER ORGANIZATIONS FOR USE IN THEIR EXEMPT PURPOSE. SCHOLARSHIPS ARE PAID DIRECTLY TO THE SCHOOLS THAT THE STUDENTS ATTEND. X X X X 0 0 0 DEEANNE NORRIS CEO 233776 0 0 0 0 0 103380 0 21222 0 358378 0 0 0 GENE ALLEX LINE SUPERINTENDENT 108195 0 0 0 0 0 40681 0 21222 0 170098 0 0 0 SHAWN BECKLER CREW CHIEF 105749 0 0 0 0 0 25341 0 21108 0 152198 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 ALL ELECTRIC CUSTOMERS ARE VOTING MEMBERS OF THE COOPERATIVE. EACH MEMBER HAS ONE VOTE. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERSHIP ELECTS THE BOARD OF DIRECTORS. THERE IS ONE CLASS OF MEMBERSHIP. FORM 990, PART VI, SECTION B, LINE 11B THE GOVERNING BOARD WILL REVIEW THE FORM IN ITS ENTIRETY. FORM 990, PART VI, SECTION B, LINE 12C ON AN ANNUAL BASIS, EACH OFFICER AND DIRECTOR COMPLETES A FORM LISTING ANY CONFLICTS THAT MAY EXIST AND INDICATING THAT THEY HAVE COMPLIED WITH THE COOPERATIVE'S CONFLICTS OF INTEREST POLICY. IF A CONFLICT OF INTEREST EXISTS, THEN THE BOARD OF DIRECTORS WILL COLLECTIVELY DETERMINE WHAT ACTION SHOULD BE TAKEN. IF DIRECTORS HAVE A CONFLICT OF INTEREST THEY SHALL DISQUALIFY THEMSELVES FROM DECISIONS THAT POSE THE CONFLICT OR THE APPEARANCE OF CONFLICT OF INTEREST. THE DIRECTOR MAY REQUEST THE OPINION OF THE COOPERATIVE ATTORNEY BEFORE SUCH ACTION IS TAKEN. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF DIRECTORS REVIEWS AND APPROVES THE CEO SALARY/WAGE INCREASE AND THE CEO REVIEWS AND APPROVES ALL OTHER EMPLOYEES SALARY/WAGE INCREASES ANNUALLY. THIS REVIEW LAST OCCURRED IN 2023. FORM 990, PART VI, SECTION C, LINE 19 THE COOPERATIVE'S ARTICLES OF INCORPORATION AND BYLAWS ARE AVAILABLE ON THE WEBSITE FOR THE MEMBERSHIP AND PUBLIC. THE COOPERATIVE'S BYLAWS INCLUDE A SECTION ON CONFLICT OF INTEREST. ANNUALLY, THE COOPERATIVE'S ATTORNEY REVIEWS THE CONFLICT OF INTEREST SECTION OF THE BYLAWS WITH ALL DIRECTORS. A LINK TO ACCESS THE COOPERATIVE'S 990 RETURNS ARE POSTED ON THE WEBSITE. A CONDENSED FINANCIAL STATEMENT IS PUBLISHED IN THE COOPERATIVE'S ANNUAL REPORT, WHICH IS POSTED ON THE WEBSITE AND MAILED TO EVERY MEMBER. THE FINANCIALS ARE ALSO PRESENTED AT THE ANNUAL MEETING. THE FULL FINANCIAL AUDIT IS AVAILABLE TO MEMBERS UPON REQUEST TO REVIEW IN THE OFFICE. FORM 990, PART VII, OFFICER COMPENSATION: OFFICER COMPENSATION REPORTED ON PART IX, LINE 5 DOES NOT EQUAL THE TOTAL COMPENSATION REPORTED ON PART VII FOR OFFICERS AND DIRECTORS. THE DISCREPANCY IS DUE TO THE DIFFERENCE BETWEEN THE CURRENT YEAR CONTRIBUTIONS TO THE DEFINED BENEFIT PENSION PLAN (A CURRENT YEAR EXPENSE) AND THE INCREASE IN ACTUARIAL VALUE OF THE PENSION PLAN. THE INCREASE IN ACTUARIAL VALUE IS NOT A CURRENT YEAR EXPENSE, BUT IS REPORTED AS COMPENSATION FOR PURPOSES OF PART VII. INCLUDED ON PART VII, COLUMN "F", OTHER COMPENSATION, IS THE ESTIMATED ANNUAL INCREASE IN THE ACTUARIAL VALUE OF THE DEFINED BENEFIT PLAN. FOR THE FOLLOWING INDIVIDUALS, THE ESTIMATED INCREASE IS: DEEANNE NORRIS: $94,473 CINDY MERTENS: $36,148 GENE ALLEX: $36,200 NICK BRUNS: $11,061 THIS AMOUNT IS AN ESTIMATE OF THE INCREASE OF THE VALUE OF THE PLAN AND IS NOT A CURRENT YEAR EXPENSE OF THE COOPERATIVE. CURRENT YEAR EMPLOYER CONTRIBUTIONS INTO THE DEFINED BENEFIT PLAN WERE AS FOLLOWS: DEEANNE NORRIS: $55,174 CINDY MERTENS: $20,769 GENE ALLEX: $27,959 NICK BRUNS: $17,799 FORM 990, PART IX, LINE 4: AS REQUIRED BY FORM 990 INSTRUCTIONS, FORM 990, PART IX, LINE 4 (BENEFITS PAID TO OR FOR MEMBERS) INCLUDES PATRONAGE DIVIDENDS PAID. THIS AMOUNT IS AN EXPENSE FOR PURPOSES OF FORM 990, BUT IS NOT RECOGNIZED AS AN EXPENSE UNDER G.A.A.P. REPORTING REQUIREMENTS, WHICH ARE USED FOR BOOK INCOME. THE RESULT IS A BOOK TO TAX DIFFERENCE WHICH IS DISCLOSED ON PART XI AND ON SCHEDULE D PARTS XI AND XIII. IN REFERENCE TO PART IX, LINE 4, THE COOPERATIVE HAS INTERPRETED "PATRONAGE DIVIDENDS PAID" AS CAPITAL CREDITS ALLOCATED TO MEMBERS UNDER THE PREEXISTING OBLIGATIONS PURSUANT TO THE BYLAWS OF THE COOPERATIVE. FORM 990, PART XI, LINE 9: RETIREMENT OF CAPITAL CREDITS -269,964. ALLOCATED CAPITAL CREDITS 1,787,955. FORM 990, PART XII, LINE 2C: THERE HAVE BEEN NO CHANGES TO THE COOPERATIVE'S OVERSIGHT RESPONSIBILITIES THIS YEAR.