2025-05-06T09:26:48-07:00 2024-12-31 990 2024-01-01 450166406 MINNKOTA POWER COOPERATIVE INC MINN 7017954000 5301 32nd Avenue South Grand Forks ND 58201 Robert McLennan President & CEO 7017954000 2025-03-20 1 2024 2025-03-06 01:10:19Z Robert McLennan 5301 32nd Avenue South Grand Forks ND 58201 472008366 0 X www.minnkota.com X 1940 MN Minnkota Power Cooperative is a rural electric cooperative that generates and transmits electric power for eleven member cooperatives. 11 11 442 0 0 0 0 0 443190820 464398660 4160064 4117606 2353507 3492100 449704391 472008366 0 0 0 0 5150462 5657754 0 0 0 431519314 457095695 436669776 462753449 13034615 9254917 1183715921 1191992873 958382383 956190831 225333538 235802042 Minnkota Power is a rural electric cooperative that generates and transmits electric power. 0 0 Minnkota Power is a rural electric cooperative that generates and transmits electric power. 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 1 138 0 1 442 1 0 0 0 0 0 435892414 25386067 0 1 0 X 11 11 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 ND X Minnkota Power Cooperative Inc Kay Schraeder - Vice President and CFO 7017954000 5301 32nd Avenue South Grand Forks ND 58201 Robert McLennan President & CEO 40 0 X 1147879 0 212631 Lowell Stave Vice President and COO 40 0 X 440577 0 88631 Gerad Paul General Counsel-VP of Legal, Compliance & Risk Mgmt 40 0 X 387741 0 87631 Jami Hovet Vice President of Administration 40 0 X 329123 0 84253 Kay Schraeder Vice President and CFO 40 0 X 322134 0 83442 Todd Sailer Vice President of Power Supply 40 0 X 320574 0 81457 Craig Bleth Vice President of Project Development 40 0 X 314874 0 82573 Dan Inman Vice President and CISO 40 0 X 311437 0 81538 Brendan Kennelly Vice President of Power Delivery 40 0 X 298608 0 79235 Andrew Sorbo Vice President Strategic Initiatives 40 0 X 257802 0 70399 Stacey Dahl Vice President of External Affairs 40 0 X 248807 0 72276 Shannon Mikula Environmental Manager 40 0 X 240891 0 71446 Grant Gunderson Senior Manager Resource Planning & Markets 40 0 X 233376 0 70137 Andrew Freidt Senior Manager of Power Production 40 0 X 227012 0 54895 Theresa Brorby Senior Manager of Audit & Risk 40 0 X 208464 0 66101 Tim Hagerott Senior Manager of Generation & Development 40 0 X 214395 0 59265 Colette Kujava Board Secretary/Treasurer 5.9 0 X X 21890 0 0 Mark Habedank Board Chair 5.90 0 X X 18560 0 0 Rick Coe Board Member 4.70 0 X 17220 0 0 Tom Woinarowicz Board Vice Chair 5.90 0 X X 16540 0 0 Les Windjue Board Member 4.7 0 X 1000 0 15420 Kalvin Hoff Board Member 4.80 0 X 16180 0 0 Cheryl Grover Board Member 4.50 0 X 15160 0 0 Mike Wahl Board Member 4.70 0 X 13600 0 0 Steve Arnesen Board Member 4.7 0 X 13200 0 0 Anthony Ottem Board Member 4.7 0 X 10560 0 0 Roger Krostue Board Member 4.70 0 X 10150 0 0 5657754 0 1361330 316 0 1 0 Sargent & Lundy 8070 Solutions Center Chicago IL 606778000 Engineering Services 1440229 Ulteig Operations LLC 3350 38th Ave S Fargo ND 58104 Engineering Services 592637 Holland & Knight PO Box 936937 Atlanta GA 311936937 Legal 538941 David Greeson Consulting LLC 600 Country Club Drive Richmond TX 77469 Consulting 334948 Imperial Cleaning Services 2705 9th Ave NW Mandan ND 58554 Cleaning Services 200920 8 0 Sale of Electric Power 221000 464398660 464398660 0 0 0 0 0 0 464398660 4117606 4117606 0 0 0 0 0 0 1350000 1350000 0 0 0 0 0 0 Miscellaneous Nonoperating Revenue 221000 2142100 2142100 0 0 0 0 0 0 2142100 472008366 472008366 0 0 5657754 29917111 31475043 Production and Purchased Power 340425872 Transmission and Substation 34589645 General and Administrative 20688024 462753449 0 0 0 12711545 12368107 0 0 0 0 48777776 56838043 45063119 46779177 11416501 13162502 1465917731 448573694 991196380 1017344037 74550600 45501007 1183715921 1191992873 70234993 61904237 825890058 860958295 62257332 33328299 958382383 956190831 X 1136 1136 0 0 225332402 235800906 225333538 235802042 1183715921 1191992873 X 9254917 0 0 0 0 1213587 X 0 1 X 1 1 1 0 35977450 35977450 0 218580646 32396646 186184000 0 0 0 0 0 1211359635 416177048 795182587 0 0 0 0 1017344037 Investments in Associated Companies 171452 F Other Investments 45329555 F 45501007 0 Post Retirement Health Insurance Obligation 2024169 Closure Cost Obligations 4981854 Deferred Credits 26322276 33328299 X 472008366 0 0 0 0 0 472008366 0 0 0 472008366 462753449 0 0 0 0 0 462753449 0 0 0 462753449 Schedule D, 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. X X 1 1 X X 0 1 0 Robert McLennan President & CEO 1122481 0 0 0 25397 0 180200 0 32431 0 1360509 0 0 0 Lowell Stave Vice President and COO 359814 0 10000 0 70763 0 55200 0 33431 0 529208 0 0 0 Gerad Paul General Counsel-VP of Legal, Compliance & Risk Mgmt 354641 0 10000 0 23100 0 55200 0 32431 0 475372 0 0 0 Jami Hovet Vice President of Administration 316523 0 12500 0 100 0 51822 0 32431 0 413376 0 0 0 Kay Schraeder Vice President and CFO 302434 0 10000 0 9700 0 51011 0 32431 0 405576 0 0 0 Todd Sailer Vice President of Power Supply 270695 0 12500 0 37379 0 48026 0 33431 0 402031 0 0 0 Craig Bleth Vice President of Project Development 302234 0 12500 0 140 0 49143 0 33431 0 397448 0 0 0 Dan Inman Vice President and CISO 301337 0 10000 0 100 0 49279 0 32259 0 392975 0 0 0 Brendan Kennelly Vice President of Power Delivery 285875 0 12500 0 233 0 46804 0 32431 0 377843 0 0 0 Andrew Sorbo Vice President Strategic Initiatives 245202 0 12500 0 100 0 37968 0 32431 0 328201 0 0 0 Shannon Mikula Environmental Manager 230791 0 10000 0 100 0 39015 0 32431 0 312337 0 0 0 Stacey Dahl Vice President of External Affairs 236061 0 12500 0 246 0 39845 0 32431 0 321083 0 0 0 Grant Gunderson Senior Manager Resource Planning & Markets 228276 0 5000 0 100 0 37706 0 32431 0 303513 0 0 0 Theresa Brorby Senior Manager of Audit & Risk 200459 0 5000 0 3004 0 33670 0 32431 0 274564 0 0 0 Andrew Freidt Senior Manager of Power Production 221912 0 5000 0 100 0 35786 0 19110 0 281908 0 0 0 Tim Hagerott Senior Manager of Product Development 208295 0 6000 0 100 0 34502 0 24763 0 273660 0 0 0 Schedule J, Part I, Line 1a Robert McLennan, Stacy Dahl, and Brenden Kennelly used the Minnkota aircraft for personal use. This was reported as income on their W-2. Robert McLennan, Lowell Stave, and Gerad Paul receive gross up non-qualified retirement plan compensation. Schedule J, Part I, Line 4 The Board of Directors adopted a 457(f) plan in which Robert McLennan, may receive incentive compensation in 2028 and 2030, if all the terms of the plan are met. Form 990, Part VI, Section A, Line 6 Minnkota Power Cooperative has member cooperatives. Form 990, Part VI, Section A, Line 7a Minnkota Power Cooperative members elect members of the governing board at the annual meeting. Form 990, Part VI, Section A, Line 7b Minnkota Power Cooperative members approve the bylaw amendments. Form 990, Part VI, Section B, Line 11b The Form 990 is reviewed by the Board prior to the submission to the IRS. Form 990, Part VI, Section B, Line 12c The Minnkota Board of Directors has a "Code of Ethics and Business Conduct" policy with a section for "The Enforcement of the Code of Business and Ethics". This section directs the Board of Directors on how to report violations of the "Code of Business Ethics". Form 990, Part VI, Section B, Line 15 Compensation for the President & CEO is determined and approved by the Board of Directors. The Board also reviews the compensation package for all employees. Form 990, Part VI, Section C, Line 19 Minnkota Power Cooperative will make the documents available upon request. Form 990, Part XI, Line 9 Other changes in net assets include other comprehensive gains related to the pension plans and post retirement health insurance obligations. DCC East Project LLC 5301 32nd Ave S Grand Forks ND 58201 922821861 Carbon Capture & Storage DE 135285 7629002 Minnkota Power Cooperative Inc Lignite Electric Power Cooperative Inc 5301 32nd Avenue South Grand Forks ND 58201 456011575 Coal Leases ND Minnkota Power Cooperative C 411 2958 1 0 Great Plains Tower Services LLC 5301 32nd Ave S Grand Forks ND 58201 934114313 Tower Maintenance ND Minnkota Power Cooperative C 1028641 809968 1 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 Great Plains Tower Services LLC g 33000 Great Plains Tower Services LLC bought 3 Minnkota Power vehicles/equipment at fair market value during the year.