2025-07-31T10:09:44-05:00 2024-12-31 450250958 Eide Bailly LLP 4585 Coleman St Ste 200 Bismarck ND 58503 990 2024-01-01 380289531 Alger Delta Cooperative Electric Association ALGE 9064284141 426 N 9th St Gladstone MI 49837 Lynn Labadie Finance Manager 9064284141 2025-07-31 1 1 Lisa Chaffee CPA P00193453 7012551091 2025-07-31 2024 2025-03-06 01:10:19Z Michael Furmanski 426 N 9th St Gladstone MI 49837 18568999 0 X www.algerdelta.com X 1937 MI Electrical distribution utility providing service to rural areas 9 9 21 0 0 0 0 0 18501800 18554978 14071 14021 0 0 18515871 18568999 355 0 1021975 953235 2472460 2731775 0 0 0 15021081 14883989 18515871 18568999 0 0 56353683 57971488 37202844 38278247 19150839 19693241 Electrical distribution utility providing service to rural areas 0 0 Provided electrical service to the rural areas of Marquette, Alger, Delta, Dickinson, Schoolcraft and Menominee counties in the Upper Peninsula of Michigan a total of 9,091 members were served in 2024. 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 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 28 0 1 21 1 0 0 0 0 0 18727117 178038 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 1 0 X Lynn Labadie 9064284141 426 N 9th Street Gladstone MI 49837 X Mike Lawless President 1.75 X X 3500 0 0 Jesse Betters Sec/Treas (Jan-Jun)/Pres (Jul-Dec) 3.06 X X 6600 0 0 Karen Alholm Vice President 1.80 X X 6750 0 0 Kirk Bruno Director Jan-Jun Sec/Treas (Jul-Dec) 3.92 X X 11100 0 0 Darryl Small Director 1.20 X 3850 0 0 Don Johnson Director 5.12 X 10600 0 0 Stephen Wery Director 2.13 X 5200 0 0 William Wotruba Director 0.96 X 5900 0 0 Stephen Dausey Director 2.60 X 5050 0 0 Timothy Jenkins Director 1.34 X 2550 0 0 Michael Furmanski General Manager 40.00 X 162046 0 53504 Lynn Labadie Finance Manager 40.00 X 113085 0 49546 Brandon Benda Lineman 51.87 X 148517 0 12139 Jonathan Conger Lead Lineman 48.93 X 139681 0 37050 Brandon Lind Lineman 53.69 X 159831 0 37181 Troy Tiernan Operations Manager 40.00 X 129385 0 49101 Jacob Hart Lineman 52.67 X 149290 0 10307 1062935 0 248828 14 0 1 0 JMCA Construction LLC 3737 18th Road Escanaba MI 49829 Contractor of boring/underground wire 177747 Michigan Electric Cooperative Associatio 10125 W Watergate Road Cadillac MI 49601 Various shared services 100114 2 Electricity Sales 221000 18064226 18064226 Capital Credits 221000 245137 245137 ATC LLC Book Income 221000 164017 164017 Miscellaneous Revenue 221000 81598 81598 18554978 14021 14021 18568999 18554978 0 14021 X 953235 462348 1793568 316917 158942 1123421 2241449 Purchased Power 7495682 Distribution Expense 4359503 Administrative and Gene 1369247 Customer Service Expens 278459 -1983772 18568999 572377 1534789 1701685 1907491 1207228 937080 141912 123632 74354475 24078337 49786674 50276138 2940357 3188908 3450 3450 56353683 57971488 2041049 1998584 34324214 35338289 837581 941374 37202844 38278247 X 80923 80923 0 0 19069916 19612318 19150839 19693241 56353683 57971488 X 0 542402 X 0 1 X 1 0 475958 475958 971951 573216 398735 71966738 23505121 48461617 939828 939828 50276138 NRUCFC 397630 C RESC 330299 C Memberships 6912 C NISC 76469 C Other 10411 C American Transmission Company, LLC 1800286 C Federated Insurance 105301 C CoBank Patronage capital credits 461510 C ATC Management, Inc. 90 C 3188908 Customer Deposits 164320 Deferred Credits 777054 941374 X 18553566 -15433 -15433 18568999 0 18568999 17600331 0 17600331 968668 968668 18568999 Part X, Line 2: The Association 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, 2023 and 2022, the unrecognized tax benefit accrual was zero. The Association will recognize future accrued interest and penalties related to unrecognized tax benefits in income tax expense if incurred. Part XI, Line 2d - Other Adjustments: Interest Expense Reported In Expenses on Form 990 -15,433. Part XII, Line 4b - Other Adjustments: Patronage Capital Credits Allocated During Current Year 953,235. Interest Expense Reported In Revenue on Audited Financials 15,433. X X X X 0 0 0 Michael Furmanski General Manager 159079 0 0 0 2967 0 27043 0 30355 0 219444 0 0 0 Brandon Lind Lineman 159390 0 0 0 441 0 4930 0 34214 0 198975 0 0 0 Troy Tiernan Operations Manager 127978 0 0 0 1407 0 22019 0 30173 0 181577 0 0 0 Jonathan Conger Lead Lineman 139221 0 0 0 460 0 7396 0 29654 0 176731 0 0 0 Lynn Labadie Finance Manager 111700 0 0 0 1385 0 19559 0 32663 0 165307 0 0 0 Brandon Benda Lineman 148343 0 0 0 174 0 3698 0 10404 0 162619 0 0 0 Jacob Hart Lineman 149064 0 0 0 226 0 2269 0 9970 0 161529 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 plan received from the NRECA. The current year expense and the increase in actuarial value for each employee is reflected in the Schedule O statement for Form 990, Part VII, column F. Form 990, Part VI, Section A, line 6 Alger Delta Cooperative is an electric cooperative providing electricity to customers in nine rural districts. Each customer is a member of the Cooperative with one voting right each. Form 990, Part VI, Section A, line 7a Alger Delta Cooperative is an electric Cooperative consisting of nine districts. The members in each district nominate and vote for their director. Each director is elected for a term of three years. Three directors are elected each year. Form 990, Part VI, Section A, line 7b Members retain the right to vote on the sale, merger, acquisition or dissolution of the cooperative; members have the right to vote to reinstate expelled members; they have the right to vote to elect or remove their district representative (board member); and they have the right to vote to amend the bylaws of the organization. Form 990, Part VI, Section A, line 8b There are no committees that can act on behalf of the governing board. Form 990, Part VI, Section B, line 11b The Form 990 is reviewed by the CFO. It is also provided at a board meeting for the Board's review and approval prior to being filed with the IRS. Form 990, Part VI, Section B, line 12c All employees and Directors are annually required to review the conflict of interest policy and disclose if they have an actual or potential conflict of interest. The General Manager reviews all reported actual or potential conflicts to determine if a conflict exists. The Board of Directors reviews the General Manager and other manager disclosures. If an actual or potential conflict is determined to exist that individual must abstain from any participation relative to the conflicting issue(s). Form 990, Part VI, Section B, line 15 The Board annually reviews and approves the General Manager's performance based on the performance review and a survey conducted by a third party company. The deliberation process was substantiated in board minutes. The General Manager reviews the Finance Manager's compensation and makes a recommendation to the board for final board approval. Form 990, Part VI, Section C, line 19 Each new member is referred to a copy of the company's by-laws on our website. The governing documents and the financial statements are available on our website. They are also available upon request, along with the conflict of interest policy. 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. The estimated increase for: Michael Furmanski: $27,043 Lynn Labadie: $19,559 Troy Tiernan: $22,019 Jonathan Conger: $7,396 Brandon Benda: $3,698 Brandon Lind: $4,930 Jacob Hart: $2,269 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 was as follows: Michael Furmanski: $37,392 Lynn Labadie: $25,707 Troy Tiernan: $29,680 Jonathan Conger: $23,707 Brandon Benda: $22,492 Brandon Lind: $22,492 Jacob Hart: $11,095 Form 990, Part IX, Statement of Functional Expenses, Line 24e The labor, 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 included on line 24e in the amount of $(2,731,776). Form 990, Part IX, Line 4 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 for the Current Year 953,235. Retirement of Capital Credits -574,836. Unclaimed Credits 164,003.