2025-10-24T13:28:02-05:00 2024-12-31 450310328 BRADY MARTZ & ASSOCIATES PC PO BOX 14296 GRAND FORKS ND 582084296 990 2024-01-01 410345595 KANDIYOHI POWER COOPERATIVE KAND 3207960991 8605 47TH ST NE SPICER MN 562880040 PATRICK KRUEGER CFO 3207960991 2025-10-23 1 1 DAVID HOLT P00014251 7017754685 2025-10-23 2024 2025-03-06 01:10:19Z PATRICK KRUEGER 8605 47TH ST NE SPICER MN 56288 23959100 0 X WWW.KPCOOP.COM X 1938 MN TO PROVIDE ELECTRIC DISTRIBUTION AND OTHER RELATED SERVICES TO ITS MEMBERS. 9 8 29 0 74867 44504 0 0 23071989 23103404 110019 95501 1222248 592734 24404256 23791639 11220 17329 2358499 1455168 489164 574679 0 0 0 21309524 21707358 24168407 23754534 235849 37105 74936440 76130838 38986395 39838277 35950045 36292561 TO PROVIDE ELECTRIC DISTRIBUTION AND OTHER RELATED SERVICES TO ITS 9,049 MEMBERS. 0 0 DISTRIBUTION OF ELECTRIC ENERGY AND RELATED SERVICES TO MEMBERS. 0 0 0 0 0 0 0 0 0 1 0 1 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 1 1 0 0 1 235 0 1 29 1 1 1 0 0 0 0 22966635 855901 0 0 0 X 9 8 0 0 0 0 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 0 X X PATRICK KRUEGER - CFO 3207960991 8605 47TH ST NE SPICER MN 56288 DALE ANDERSON CHAIR 10.85 X 9530 0 0 LARRY POWERS DIRECTOR 6.76 X 9455 0 0 STANLEY WUBBEN SECRETARY 6.81 X 9180 0 0 TODD POST VICE CHAIR 7.52 X 9055 0 0 KELLY ERICKSON DIRECTOR 7.29 X 8955 0 0 ROLLO CAMPE DIRECTOR 3.65 X 8205 0 0 DARRELL FOSTERVOLD DIRECTOR 7.37 X 8080 0 0 DIANE HELGESON DIRECTOR 5.53 X 8080 0 0 DAN POMRANKE DIRECTOR 4.96 X 7455 0 0 RYAN NELSON CEO 40.00 X 223437 0 56750 PATRICK KRUEGER CFO 40.00 X 164449 0 49835 CASEY JENNY JOURNEYMAN LINE TECH IN-CHARGE 45.11 X 131025 0 37164 MICHAEL MARCUS JOURNEYMAN LINE TECH IN-CHARGE 44.74 X 127157 0 37319 DUSTIN WELZ JOURNEYMAN LINE TECH IN-CHARGE 43.11 X 120731 0 31382 TROY MEAD LINE FOREMAN 41.93 X 116913 0 38966 BRENT HATLESTAD LINE SUPERINTENDENT 40.00 X 124418 0 39405 1086125 0 290821 14 0 1 0 MIDWEST UNDERGROUND OF MN 4320 CO RD 8 SE WILLMAR MN 56201 PLOW UNDERGROUND CABLE 776311 PREMIER LOCATING INC PO BOX 459 BUFFALO MN 55313 UNDERGROUND UTILITY CONTRACTOR 241146 TREESTORY 72150 CSAH 21 DASSEL MN 55325 TREE SERVICE 224102 STAR ENERGY SERVICES 6841 POWER LN SW ALEXANDRIA MN 56308 PROFESSIONAL SERVICES/CONSULTING 131092 4 ELECTRIC REVENUE 221000 22917125 22917125 OTHER REVENUE 221000 186279 186279 23103404 87743 87743 181909 162414 19495 19495 19495 12805 5047 7758 7758 7758 CAPITAL CREDITS 221000 449012 449012 OTHER REVENUE 900099 68855 68855 K-1 HEARTLAND SECURITY 900099 31618 31618 23754 23754 573239 23791639 23560174 74867 156598 X 17329 1455168 574679 1214331 2514796 COST OF POWER 13020954 DIST EXPENSE OPER & MAI 2475750 ADMIN & GEN EXPENSE 1597139 OTHER EXPENSES 525336 359052 23754534 352075 802777 2907132 3124668 6000 6000 3393259 3223805 901399 791456 84060008 28941858 54539482 55118150 1320205 1500376 11516888 11563606 74936440 76130838 4110922 3893538 103477 92314 34106077 34319424 665919 1533001 38986395 39838277 X 0 0 0 0 35950045 36292561 35950045 36292561 74936440 76130838 X 37105 305411 X 0 1 X 1 0 247249 247249 2062904 7043174 3641477 5464601 73178437 25300381 47878056 1528244 1528244 55118150 UPA & GREAT RIVER ENERGY PATRONAGE 8942817 C NRUCFC PATRONAGE CAPITAL 1150491 C OTHER PATRONAGE CAPITAL 121323 C CFC CAPITAL TERM CERT 848975 C CFC MEMBER CAPITAL SECURITIES 500000 C 11563606 CONSUMERS' DEPOSITS 56314 ERC CONTINGENT LIABILITY 619036 PAYABLE TO SUBSIDIARY CORPORATION 857651 1533001 X PART X, LINE 2: THE COOPERATIVE IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(12) OF THE INTERNAL REVENUE CODE. EARNINGS OR LOSSES FROM EQUITY INVESTMENTS ARE REPORTED AS UNRELATED BUSINESS INCOME (UBI) BY THE COOPERATIVE AND FILED ANNUALLY ON FEDERAL FORM 990T. THERE IS NO PROVISION FOR INCOME TAXES AT DECEMBER 31, 2024 AND 2023. 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. 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. FORM 990, SCHEDULE D, PART VI, LINE 1E, OTHER CONSTRUCTION IN PROGRESS $1,528,244 X X X 0 0 0 RYAN NELSON CEO 223437 0 0 0 0 0 40700 0 17256 0 281393 0 0 0 PATRICK KRUEGER CFO 157308 0 0 0 7141 0 33701 0 17142 0 215292 0 0 0 CASEY JENNY JOURNEYMAN LINE TECH IN-CHARGE 131025 0 0 0 0 0 15113 0 22288 0 168426 0 0 0 MICHAEL MARCUS JOURNEYMAN LINE TECH IN-CHARGE 127157 0 0 0 0 0 15267 0 22288 0 164712 0 0 0 BRENT HATLESTAD LINE SUPERINTENDENT 109487 0 5000 0 9931 0 23307 0 16824 0 164549 0 0 0 TROY MEAD LINE FOREMAN 116913 0 0 0 0 0 16926 0 22289 0 156128 0 0 0 DUSTIN WELZ JOURNEYMAN LINE TECH IN-CHARGE 120731 0 0 0 0 0 15620 0 15998 0 152349 0 0 0 DALE ANDERSON DALE, A DIRECTOR, REPRESENTS THE COOP ON GREAT RIVER ENERGY'S BOARD 13016528 PURCHASE OF WHOLESALE POWER 0 FORM 990, PART VI, SECTION A, LINE 6 MEMBERSHIP IS AFFECTED BY: 1) PROCURING SERVICE FROM THE COOPERATIVE OR 2) PROVIDING A CONTINUING PERIODIC OPERATING REVENUE STREAM FOR THE COOPERATIVE. CURRENTLY, THE COOPERATIVE HAS ONE CLASS OF MEMBERS, BUT HAS THE RIGHT TO DEFINE RIGHTS AND PRIVILEGES OF MULTIPLE CLASSES OF MEMBERSHIP, PER ITS BYLAWS. FORM 990, PART VI, SECTION A, LINE 7A THE COOPERATIVE'S MEMBERS VOTE ON REGIONAL REPRESENTATIVES TO THE GOVERNING BODY (BOARD). THE BOARD CONSISTS OF NINE MEMBERS THAT SERVE 3 YEAR TERMS ON A STAGGERED BASIS. FORM 990, PART VI, SECTION A, LINE 7B DECISIONS OF THE BOARD ARE NOT SUBJECT TO APPROVAL BY THE MEMBERSHIP. HOWEVER, THE COOPERATIVE'S MEMBERS ELECT THE BOARD OF DIRECTORS AND MEMBERS MAY PETITION TO REMOVE A BOARD MEMBER WITH 20% OF ELIGIBLE VOTERS SIGNING. AN ELECTION WOULD THEN BE HELD TO DETERMINE WHETHER THE DIRECTOR IS REMOVED OR RETAINED. FORM 990, PART VI, SECTION A, LINE 8B CONTEMPORANEOUS MINUTES ARE NOT TAKEN ON ALL COMMITTEE MEETINGS BECAUSE COMMITTEES ARE VIEWED ONLY AS ADVISORY TO THE FULL BOARD. ANY ACTIONS TAKEN WOULD BE DONE AT THE FULL BOARD LEVEL AND DOCUMENTED AS PART OF THE BOARD MEETING. FORM 990, PART VI, SECTION B, LINE 11B A DRAFT COPY OF THE 990 IS PRESENTED TO THE BOARD FOR REVIEW BEFORE FILING. FORM 990, PART VI, SECTION B, LINE 12C ALL BOARD MEMBERS WERE REQUIRED TO FILL OUT A CONFLICT OF INTEREST QUESTIONNAIRE IN REGARD TO THE CURRENT TAX YEAR. FORM 990, PART VI, SECTION B, LINE 15A THE BOARD OF DIRECTORS ANNUALLY REVIEWS AND SETS THE SALARY FOR THE CEO. THE NRECA COMPENSATION SURVEY AMONG OTHER DOCUMENTS IS USED FOR COMPARABILITY DATA. FORM 990, PART VI, SECTION C, LINE 18 THESE DOCUMENTS ARE AVAILABLE TO MEMBERS OF THE COOPERATIVE VIA THE SMARTHUB MOBILE APPLICATION. FORM 990, PART VI, SECTION C, LINE 19 COPIES OF POLICIES ARE AVAILABLE FOR REVIEW AT COOP OFFICES ON REQUEST WITH APPOINTMENTS PREARRANGED. 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. 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: K-1 INCOME HEARTLAND SECURITY SERVICES -37,105. RETIREMENT OF PATRONAGE CAPITAL -1,451,614. ALLOCATED CAPITAL CREDITS 1,455,168. RETIRED CAPITAL CREDIT GAIN 134,532. BOOK INCOME HEARTLAND SECURITY SERVICES 46,857. BOOK INCOME KPC HOLDINGS 157,573. KANDIYOHI POWER CHARITABLE TRUST 8605 47TH ST NE SPICER MN 56288 411953406 ACCUMULATE AND DISBURSE FUNDS FOR CHARITABLE PURPOSES MN 501(C)(3) PC 0 KPC HOLDINGS INC 8605 47TH ST NE SPICER MN 56288 205694500 HOLDING COMPANY MN N/A C 131682 1027651 1.00000 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0