2025-05-05T15:05:21-05:00 2024-12-31 450250958 Eide Bailly LLP 4585 Coleman St Ste 200 Bismarck ND 58503 990 2024-01-01 450115790 Cass County Electric Cooperative Inc CASS 7013564400 3312 42nd St S 200 Fargo ND 58104 Andy Weiss Current CFO 7013564400 2025-05-05 1 1 Lisa Chaffee CPA P00193453 7012551091 2025-05-05 2024 2025-03-06 01:10:19Z Andy Weiss 3312 42nd St S 200 Fargo ND 58104 159381712 0 X www.casscountyelectric.com X 1937 ND To serve our member's energy needs with affordable and reliable electricity. 9 9 114 0 0 0 0 0 160521855 157096511 1385701 1429369 207224 184174 162114780 158710054 129873 116011 9992789 7914538 13881801 14761810 0 0 0 131480945 134360161 155485408 157152520 6629372 1557534 329441334 347163937 168023507 179218288 161417827 167945649 The mission of Cass County Electric Cooperative: To serve our member's energy needs with affordable and reliable electricity. 0 0 The Cooperative provided electric energy to 59,687 accounts, 52,672 members and serviced 5,856 of miles at the end of the 2024 year. 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 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 289 0 1 114 1 0 0 0 0 0 161050279 1595723 0 0 0 X 9 9 0 0 0 0 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 0 X Sarah Rhea 7013564400 3312 42nd St S Ste 200 Fargo ND 58104 Glenn Mitzel Board Chair 6.60 X X 25660 0 0 Terry Kraft Vice Chair 4.80 X X 18910 0 0 Paul White Secretary 4.50 X X 17910 0 0 Kalvin Hoff Treasurer 7.10 X X 19410 0 0 Douglas Anderson Director 7.60 X 24660 0 0 Vanessa Kummer Director (Apr-Dec) 3.20 X 15096 0 0 Wendy Loucks Director 6.80 X 24910 0 0 Tom Seymour Director 8.20 X 31160 0 0 Sidney Berg Director (Jan-Apr) 2.30 X 8803 0 0 Stacey Ackerman Director 5.70 X 0 0 0 Paul Matthys CEO (Apr-Dec) 43.40 X 337100 0 121509 Marshal Albright CEO (Jan-Mar) 45.40 X 304545 0 45014 Chad Sapa CFO 42.40 X 304924 0 61030 Jodi Bullinger VP of Engineering & Operat 41.70 X 261038 0 187148 Tim Sanden CIO/VP of Information Tech 41.00 X 243118 0 54416 Chad Brousseau VP of Member & Energy Serv 41.50 X 144784 0 79086 Michael Mahlke Line Crew Foreman 47.00 X 144996 0 56316 Phillip Lamb Line Crew Foreman 47.50 X 159392 0 27016 2086416 0 631535 64 0 1 0 Arvig Construction 150 Second St SW Perham MN 56573 Electrical Contractor 1694742 MPM Construction PO Box 202 Horace ND 58047 Electrical Contractor 1338210 Jerry's Excavating PO Box 809 Casselton ND 58012 Electrical Contractor 969477 Carr's Tree Service Inc PO Box 250 Ottertail MN 56571 Tree Trimming Contractor 821281 Dakota Hills Electric Inc 15726 HWY 46 Kindred ND 58051 Electrical Contractor 673830 12 Electric Sales 221000 156415019 156415019 Capital Credits 221000 681492 681492 157096511 1239917 1239917 290845 120171 170674 170674 170674 524918 216021 525478 26009 -560 190012 189452 189452 Dispatching Services 900099 13500 13500 13500 158710054 157096511 0 1613543 X 116011 7914538 1337901 10405307 2181617 836985 4547211 9704202 Cost of Power 115754777 Distribution Expenses 10178937 Administrative and Gene 4666705 Customer Service Expens 3172501 -13664172 157152520 20210721 26311013 16513348 16723869 11554439 12170610 351943 197897 361507868 96480705 255008600 265027163 4648685 5120829 21001268 21491396 152330 121160 329441334 347163937 16461057 15013975 942132 1041935 20047 20960 144230918 156837092 6369353 6304326 168023507 179218288 X 0 0 30093333 32966469 131324494 134979180 161417827 167945649 329441334 347163937 X 1557534 14845 4955443 X 0 1 X 0 0 0 1 X 592484 592484 19680985 9895455 9785530 329856332 86242126 243614206 11378067 343124 11034943 265027163 Investments in Associated Organizations 21118298 C Other Investments 373098 C 21491396 Customer Deposits 3176925 Other Liabilities 121986 Installation Costs of Equip 193175 Postretirement Benefits 2265626 Demand Waiver Projects Costs Reserve 546614 6304326 X 158710054 0 158710054 0 158710054 149237982 0 149237982 7914538 7914538 157152520 Part IV, Line 2b: The members of the Cooperative can elect to round up their monthly electric bill to the next dollar. These funds collected from the membership are held in a Cooperative account until they are released to the Cass County Electric Cooperative Foundation. These funds are transferred directly to the Cass County Electric Cooperative Foundation on a monthly basis. 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 Cass County Electric Cooperative Foundation. Part X, Line 2: The Cooperative 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, 2024 and 2023, the unrecognized tax benefit accrual was zero. The Cooperative will recognize future accrued interest and penalties related to unrecognized tax benefits in income tax expense if incurred. Part XII, Line 4b - Other Adjustments: Patronage Capital Credits Allocated During Current Year 7,914,538. 1 ND State College of Science 800 6th St N Wahpeton ND 58076 450407617 501(c)(3) 12000 0 Education ND Dollars for Scholars 1200 Memorial Highway PO Box 5509 Bismarck ND 58506 371517987 501(c)(3) 11000 0 Education Greater FM EDC 51 Broadway Suite 500 Fargo ND 58102 456011769 501(c)(3) 40000 0 Economic Growth 3 0 Part I, Line 2: The Greater FM EDC reports on how the funds are spent. The ND Dollars for Scholars forwards the names of the students and parents receiving scholarships. The NDSCS Career Innovation Center is expected to open August 2025 to provide academic programming, and workforce training, and we receive a report as to how the grant money is spent. X 0 0 0 Paul Matthys CEO (Apr-Dec) 286730 0 31273 0 19097 0 92458 0 29050 0 458608 0 0 0 Jodi Bullinger VP of Engineering & Operat 207598 0 38020 0 15420 0 164328 0 22820 0 448186 0 0 0 Chad Sapa CFO 242021 0 43421 0 19482 0 26849 0 34181 0 365954 0 0 0 Marshal Albright CEO (Jan-Mar) 300704 0 0 0 3841 0 27774 0 17240 0 349559 0 0 0 Tim Sanden CIO/VP of Information Tech 187883 0 37357 0 17878 0 21075 0 33341 0 297534 0 0 0 Chad Brousseau VP of Member & Energy Serv 137507 0 1553 0 5724 0 48166 0 30919 0 223869 0 0 0 Michael Mahlke Line Crew Foreman 142292 0 1196 0 1508 0 27166 0 29150 0 201312 0 0 0 Phillip Lamb Line Crew Foreman 157093 0 1196 0 1103 0 24983 0 2032 0 186407 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 plans received from the NRECA. The current year expense and the increase in actuarial value for each employee are reflected in the statement for Form 990, Part VII, Column f. Form 990, Part VI, Section A, line 6 CCEC has one class of members. A person is eligible to become a member of the cooperative effective the date the person initially uses or requests to use electric service and meets the requirements set forth in Article I of the Cooperative's Bylaws. Form 990, Part VI, Section A, line 7a One member, one vote. CCEC members have the right and authority to elect the Board of Directors. Three directors stand for election each year at the annual business meeting. Members also have the right to request a special meeting of the membership when the request is based on valid member demand. Members may consider, vote or act upon other matters as provided by applicable laws. Form 990, Part VI, Section A, line 7b CCEC membership has the right and authority to have the final decision role on the following matters: **The disposition of cooperative assets if proposed sale is over 5% of total assets during a 12-month period. No less than two-thirds of the entire membership must approved the proposed transfer. ** A proposed merger or consolidation; a majority of the members present and voting in person at the member meeting must approve the consolidation or merger. Form 990, Part VI, Section A, line 8b The Board of Directors is the sole body with governing authority over the Cooperative. All committees serve in an advisory capacity. Appropriate records are maintained of proceedings at all governance meetings as well as its advisory standing committees. Form 990, Part VI, Section B, line 11b Board policy 202 regarding Tax Status/Reporting establishes that following the initial preparation of the draft Form 990, the CFO and President/CEO must review the report and submit it to the Board of Directors for approval. The Board must approve the completed Form 990 before it is filed. Form 990, Part VI, Section B, line 12c CCEC Policy 110 Conflict of Interest requires Directors and employees of the Cooperative to disclose annually: **The receipt of any gifts, fees, loans or favors with a value in excess of $100; **Any business transaction that may be considered in competition with the cooperative or deemed a conflict of interest; **The policy also prohibits the use of non-public corporate information for financial or business opportunity benefit. ***Action: Should a conflict be disclosed the board must provide the director an opportunity to comment orally and in writing regarding the information or fact before making a determination. If the board determines that a director is not in compliance with the policy the board will act appropriately including the possibility of sanction, disqualification and/or removal. Legal counsel reviews disclosures. Individuals with a conflict must abstain from voting. Form 990, Part VI, Section B, line 15a At the board reorganization meeting held annually, the board reviews director compensation and benefits. The last review of director compensation was done in 2024. The most current NRECA Director Compensation Survey is provided for review. Note: this survey is done every other year (most current 2024). A CEO evaluation of compensation is done annually by the Board of Directors during an executive session; the CEO is not present during the meeting. As established by Board Policy 105.4, the Board Compensation Committee collects, verifies and analyzes comparative data on compensation which is then provided and reviewed by the board (executive session minutes are kept by legal counsel). The board Chairman is responsible for discussing the outcome of the evaluation with the CEO. The last CEO evaluation occurred in March 2024. An annual performance appraisal is required for all employees; the appraisals on top management personnel are completed by the President/CEO in accordance with Board Policy 224. Local, regional and national wage and salary data is used to determine the wage scale, which is approved annually by the Board of Directors. Form 990, Part VI, Section C, line 19 The Cooperative's Bylaws and Articles of Incorporation are posted on the website (www.casscountyelectric.com). A paper copy is made available to any member upon request. The financial statements are mailed to all members of the Cooperative in the annual report issue of Cooperative's official newsletter, The Highline Notes. The Conflict of Interest Policy is available to the public upon request. Form 990, Part IX, Functional Expense, Line 24e Other Expenses: The salaries, 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 on line 24e in the amount of $(14,761,809). Form 990, Part IX, Functional Expense, Line 4 Benefits Paid to Members- 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 During Current Year 7,914,538. Retired Capital Credits -4,246,306. Discounted Gain on Capital Credits Retired 792,078. Capital Credits Retired Reclassified to Unclaimed 495,133. Form 990, Part VII, Column F Estimated Amount of Other Compensation: Because Part IX, line 5 captures only the current year expense of the defined benefit plan of the Cooperative, the compensation in Part IX, line 5 is less than that reported in Part VII. Included in deferred compensation is the current year estimated increase in the actuarial value of the defined benefit plan for the following employees: Jodi Bullinger $148,912, Paul Matthys $72,908, Chad Brousseau $39,234, Michael Mahlke $19,754, and Phillip Lamb $17,179. 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 are as follows: Jodi Bullinger $54,776, Paul Matthys $50,169, Chad Brousseau $31,425, Michael Mahlke $26,799, and Phillip Lamb $26,799.