2025-11-07T12:14:09-06:00 2024-12-31 410746749 CLIFTONLARSONALLEN LLP 2689 COMMERCE DRIVE NW SUITE 201 ROCHESTER MN 55901 990 2024-01-01 410403745 MCLEOD COOPERATIVE POWER ASSOCIATION MCLE 3208643148 3515 11TH STREET EAST GLENCOE MN 55336 RONALD MEIER CEO 3208643148 2025-11-03 1 0 KATHERINE LUTZKE CPA P01760889 5072802300 2025-11-03 2024 2025-03-06 01:10:19Z STEPHANIE JAKEL 3515 11TH STREET EAST GLENCOE MN 55336 23709933 0 X WWW.MCLEODCOOP.COM X 1935 MN TO ENHANCE THE QUALITY OF LIFE FOR OUR MEMBERS AND CUSTOMERS THROUGH EFFECTIVE SOLUTIONS. 9 9 28 0 100819 129711 0 0 21854962 22707535 178671 203565 1025478 717231 23059111 23628331 0 0 864500 426004 493750 506897 0 0 0 21800867 22927634 23159117 23860535 -100006 -232204 84165367 85872349 52340004 54155617 31825363 31716732 TO DELIVER ENERGY AND OTHER SERVICES THAT WILL IMPROVE THE QUALITY OF LIFE FOR OUR CUSTOMERS, AND TO MAXIMIZE CUSTOMER SATISFACTION BY DELIVERING THOSE SERVICES IN THE MOST FRIENDLY, SAFE, RELIABLE AND COMPETITIVE MANNER POSSIBLE. 0 0 PROVIDED ELECTRIC SERVICE TO AN AVERAGE OF 6,002 MEMBERS IN 2024. WE HAD AN INCREASE OF 3 MILES OF LINE DURING 2024. THE COOPERATIVE HAS 2,039 MILES OF DISTRIBUTION LINE AS OF DECEMBER 31, 2024. 0 0 0 0 0 0 0 1 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 1 1 0 0 1 70 0 1 28 1 1 1 0 0 0 0 23062621 643161 0 0 0 X 9 9 0 0 0 0 1 1 1 1 0 0 0 1 1 1 1 1 1 1 1 0 X RONALD MEIER 3208643148 3515 11TH STREET EAST GLENCOE MN 55336 X DOUG KIRTZ PRESIDENT 3.00 0.00 X X 7095 0 0 DAVID RESCH VICE PRESIDENT 4.00 0.00 X X 4575 0 0 SUSAN ANDERSON SECRETARY TREASURER 4.00 0.00 X X 8920 0 0 GARY BURDORF ASST. SECRETARY TREASURER 2.00 0.00 X X 5075 0 0 ALLAN DUESTERHOEFT DIRECTOR 3.00 0.00 X 4575 0 0 RANDY HLAVKA DIRECTOR 6.00 0.00 X 5215 0 0 KEITH PETERSON DIRECTOR 2.00 0.00 X 5715 0 0 JOE GRIEBIE DIRECTOR 3.00 0.00 X 3340 0 0 KIRK NEWMAN DIRECTOR 3.00 0.00 X 6355 0 0 JEFF KOSEK DIRECTOR 1.00 0.00 X 1165 0 0 RONALD MEIER CEO 40.00 0.00 X 199128 0 72433 STEPHANIE JAKEL MANAGER OF FINANCE 40.00 0.00 X 121343 0 61963 RYAN SCHUETTE LINE FOREMAN 45.00 0.00 X 135621 0 59271 CRAIG MARTI LINE FOREMAN 44.00 0.00 X 137004 0 61196 EMERSON BRADY OPERATIONS MANAGER 40.00 0.00 X 129182 0 58086 JARED KLEIN LINE WORKER 44.00 0.00 X 128276 0 47385 KEVIN LACOURSE LINE WORKER 45.00 0.00 X 134895 0 32619 1037479 0 392953 7 0 1 0 MP NEXLEEL LLC 500 COUNTY ROAD 37 E MAPLE LAKE MN 55358 LINE CONSTRUCTION 812908 TREESTORY PO BOX 676 DASSEL MN 55325 TREE SERVICE 460796 STAR ENERGY 6841 POWER LANE SW ALEXANDRIA MN 56308 ENGINEERING CONSULTING 146122 3 SALE OF POWER 221000 22707535 22707535 22707535 153417 153417 131750 81602 50148 50148 50148 CAPITAL CREDITS 221000 586165 586165 ARLINGTON CONTRACT 230000 69200 69200 HEARTLAND K-1 812900 31619 31619 30247 30247 717231 23628331 23323947 100819 203565 426004 506897 1354755 2419729 COST OF POWER 14155648 DISTRIBUTION - OPERATIO 1574476 DISTRIBUTION - MAINTENA 1352931 CUSTOMER ACCOUNT EXPENS 1106619 963476 23860535 3753637 1740443 267094 1408633 2267877 2637142 1885354 1409540 148366 195045 85527342 21778547 61267194 63748795 13958712 14143338 617133 589413 84165367 85872349 4052571 3974224 389693 416771 54478 60025 46005168 48602202 1838094 1102395 52340004 54155617 X 0 0 31825363 31716732 0 0 31825363 31716732 84165367 85872349 X -232204 123573 X 0 1 X 1 0 0 1 X 412970 412970 10966492 882555 10083937 74127741 20895992 53231749 20139 20139 63748795 PATRONAGE CAPITAL 12307908 C OTHER INVESTMENT IN ASSOC. COMPANIES 1539813 C INVESTMENT IN ECONOMIC DEVELOPMENT PROJECT 295617 C 14143338 CUSTOMER DEPOSITS 131000 OTHER REGULATORY LIABILITY 538514 ACCUMULATED PROVISION FOR PENSION & BENEFITS 432881 1102395 X 23561032 35206 35206 23525826 102505 102505 23628331 23363645 0 23363645 496890 496890 23860535 PART IV, LINE 2B: THE MEMBERS OF THE COOPERATIVE ROUND UP THEIR MONTHLY ELECTRIC BILL TO THE NEXT DOLLAR, UNLESS THEY OPT OUT OF THE PROGRAM THESE FUNDS COLLECTED FROM THE MEMBERSHIP ARE HELD IN A COOPERATIVE ACCOUNT UNTIL THEY ARE RELEASED TO THE MCLEOD COOPERATIVE POWER TRUST. THESE FUNDS ARE TRANSFERRED DIRECTLY TO THE MCLEOD COOPERATIVE POWER TRUST PERIODICALLY THROUGHOUT THE YEAR. FUNDS THAT EXIST AT THE END OF YEAR ARE A RESULT OF A TIMING DIFFERENCE IN THE RECEIPT OF THE FUNDS AND THE RELEASE OF THEM TO THE MCLEOD COOPERATIVE POWER TRUST. FOR THE YEAR ENDED DECEMBER 31, 2024 THE ACCOUNT HELD $60,025. PART X, LINE 2: THE COOPERATIVE IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(12) OF THE INTERNAL REVENUE CODE (IRC). ACCORDINGLY, NO PROVISION FOR INCOME TAXES HAS BEEN RECORDED AT DECEMBER 31, 2024 AND 2023. THE COOPERATIVE EVALUATED ITS TAX POSITIONS AND DETERMINED THAT IT HAS NO UNCERTAIN TAX POSITIONS AS OF DECEMBER 31, 2024 AND 2023. PART XI, LINE 2D - OTHER ADJUSTMENTS: HEARTLAND BOOK INCOME 35,206. PART XI, LINE 4B - OTHER ADJUSTMENTS: HEARTLAND K-1 TAX INCOME 31,619. EXPENSES REPORTED AS REVENUE 70,886. PART XII, LINE 4B - OTHER ADJUSTMENTS: PATRONAGE CAPITAL CREDITS ALLOCATED DURING CURRENT YEAR 426,004. EXPENSES REPORTED AS REVENUE 70,886. X X X 0 0 0 RONALD MEIER CEO 196041 0 210 0 2877 0 28162 0 44271 0 271561 0 0 0 CRAIG MARTI LINE FOREMAN 136208 0 250 0 546 0 24180 0 37016 0 198200 0 0 0 RYAN SCHUETTE LINE FOREMAN 134878 0 405 0 338 0 16882 0 42389 0 194892 0 0 0 EMERSON BRADY OPERATIONS MANAGER 128430 0 310 0 442 0 15246 0 42840 0 187268 0 0 0 STEPHANIE JAKEL MANAGER OF FINANCE 120613 0 325 0 405 0 14840 0 47123 0 183306 0 0 0 JARED KLEIN LINE WORKER 127214 0 787 0 275 0 9764 0 37621 0 175661 0 0 0 KEVIN LACOURSE LINE WORKER 134186 0 425 0 284 0 11639 0 20980 0 167514 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 ESTIMATES OF THE INCREASE IN THE ACTUARIAL VALUE OF THE PLANS RECEIVED VALUE FOR EACH EMPLOYEE IS REFLECTED IN THE SCHEDULE O STATEMENT FOR NOT REPRESENT ANY CURRENT YEAR CONTRIBUTIONS TO THE PLAN. THEY ARE FROM THE NRECA. THE CURRENT YEAR EXPENSE AND THE INCREASE IN ACTUARIAL FORM 990, PART VII, COLUMN F. FORM 990, PART VI, SECTION A, LINE 6 THE MEMBERS ARE ALL THE SAME CLASS. THE ORGANIZATION IS A MEMBER OWNED ELECTRIC COOPERATIVE. FORM 990, PART VI, SECTION A, LINE 7A THE SERVICE TERRITORY IS DIVIDED INTO DISTRICTS. MEMBERS FROM THAT DISTRICT ELECT THEIR DIRECTOR TO REPRESENT THEM. DIRECTORS SERVE A THREE YEAR TERM. FORM 990, PART VI, SECTION A, LINE 7B IF CHANGES ARE MADE TO THE BY-LAWS, THE CHANGES WILL BE VOTED ON BY THE MEMBERS AT THE ANNUAL MEETING. EACH MEMBER HAS ONE VOTE. FORM 990, PART VI, SECTION A, LINE 8B THERE ARE NO COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 WAS REVIEWED BY THE COOPERATIVE'S CEO & MANAGER OF FINANCE PRIOR TO BEING PRESENTED, REVIEWED, AND APPROVED BY THE BOARD OF DIRECTORS BEFORE FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C WHEN OBTAINING QUOTES OR BIDS FOR PURCHASES OR CONTRACT WORK, IT IS MANAGEMENT'S RESPONSIBILITY TO ENSURE THAT THERE ARE NO VIOLATIONS TO THIS POLICY. THE CONFLICT OF INTEREST POLICY APPLIES TO THE DIRECTORS, OFFICERS AND KEY EMPLOYEES OF MCLEOD COOPERATIVE POWER ASSOCIATION, AND ANY RELATED INDIVIDUALS TO THE DIRECTORS, OFFICERS, OR KEY EMPLOYEES. IT IS THE RESPONSIBILITY OF THE INTERESTED PARTY TO DISCLOSE ANY CONFLICTS OF INTEREST. THE BOARD INTERPRETS AND ENFORCES THE CONFLICT OF INTEREST POLICY. IF IT IS DETERMINED THAT THE POLICY IS NOT BEING FOLLOWED THE INDIVIDUAL NOT FOLLOWING THE POLICY MAY BE SANCTIONED, DISQUALIFIED, AND/OR DISMISSED. IN THE EVENT THAT A CONFLICT MAY OCCUR THE INTERESTED PARTIES ABSTAIN FROM VOTING. FORM 990, PART VI, SECTION B, LINE 15 THE CEO'S COMPENSATION IS REVIEWED AND APPROVED BY THE BOARD OF DIRECTORS. OTHER OFFICERS AND EMPLOYEES COMPENSATION IS SET BY THE CEO USING THE APPROVED COMPENSATION SYSTEM (NRECA'S COMPENSATE) PER BOARD POLICY. THE BOARD REVIEWS THE PERFORMANCE OF THE COMPENSATION SYSTEM ANNUALLY. THE BOARD USES COMPARABILITY DATA AND SUBSTANTIATES THEIR DECISION IN BOARD MINUTES. THE PROCESS DESCRIBED HERE WAS LAST COMPLETED IN 2024. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE MADE AVAILABLE UPON REQUEST. 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 AND ARE NOT CURRENT EXPENSES OF THE COOPERATIVE. THE ESTIMATED INCREASE WAS AS FOLLOWS: RON MEIER: $9,957 STEPH JAKEL : $2,611 CRAIG MARTI : $ 18,506 RYAN SCHUETTE : $10,993 KEVIN LACOURSE : $6,361 EMERSON BRADY : $3,155 JARED KLEIN : $4,486 THE CURRENT YEAR EXPENSE FOR THIS DEFINED BENEFIT PLAN WAS AS FOLLOWS: RON MEIER : $31,468 STEPH JAKEL : $21,126 CRAIG MARTI : $27,781 RYAN SCHUETTE : $27,996 KEVIN LACOURSE : $25,839 EMERSON BRADY : 20,918 JARED KLEIN : $ 25,839 FORM 990, PART XI, LINE 9: RETIREMENT OF CAPITAL CREDITS -306,018. HEARTLAND BOOK TO TAX DIFFERENCE 3,587. PATRONAGE CAPITAL CREDITS ALLOCATED DURING CURRENT YEAR 426,004. MCLEOD COOPERATIVE POWER TRUST 3515 11TH STREET EAST GLENCOE MN 55336 421620470 CHARITABLE PURPOSES MN 501(C)(3) LINE 7 MCLEOD COOPERATIVE POWER ASSOCIATION 1 0 0 0 0 0 0 0 0 0 0 0 1 1 1 1 0 0 0 0