2025-11-05T10:53:03-06:00 2024-12-31 450310328 BRADY MARTZ & ASSOCIATES PC PO BOX 14296 GRAND FORKS ND 582084296 990 2024-01-01 410419150 MINNESOTA VALLEY ELECTRIC COOPERATIVE MINN 9524922313 125 MINNESOTA VALLEY ELECTRIC DRIVE JORDAN MN 55352 RANDY ERDMAN VP OF FINANCE 9524922313 2025-10-30 1 1 DAVID HOLT P00014251 7017754685 2025-10-29 2024 2025-03-06 01:10:19Z RANDY ERDMAN 125 MINNESOTA VALLEY ELECTRIC DRIVE JORDAN MN 55352 108711661 0 X WWW.MVEC.NET X 1937 MN PROVIDE ELECTRIC SERVICE TO MEMBERS 9 9 116 0 -2287 0 0 0 104216799 104854911 708999 703439 3638936 2712735 108564734 108271085 0 0 3480937 6965125 1415513 1415617 0 0 0 102255805 102197052 107152255 110577794 1412479 -2306709 250122932 268805374 164760999 180315040 85361933 88490334 PROVIDE ELECTRIC SERVICE TO MEMBERS 0 0 PROVIDE ELECTRIC SERVICE 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 0 0 1 0 0 0 0 1 1 1 0 0 1 238 0 1 116 1 0 0 0 0 0 107930058 4653132 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 RANDY ERDMAN 9524922313 125 MINNESOTA VALLEY ELECTRIC DRIVE JORDAN MN 55352 X DEBORAH ERICKSON PRESIDENT 8.00 X 22220 0 0 ELIZABETH KROCAK SECRETARY/TREASURER 4.00 X 18585 0 0 THOMAS WOLF VICE PRESIDENT 25.00 X 18555 0 0 KEVIN GIBBS DIRECTOR 8.00 X 18120 0 0 GARY HABERMAN DIRECTOR 2.00 X 18000 0 0 JAMES CONNELLY DIRECTOR 25.00 X 18000 0 0 MICHELLE MORRISON DIRECTOR 8.00 X 18000 0 0 BRENT LAWRENCE DIRECTOR 7.00 X 18000 0 0 MICHAEL LINS DIRECTOR 8.00 X 18000 0 0 MARVIN DENZER CEO 40.00 X 389792 0 288206 RANDY ERDMAN VP OF FINANCE 40.00 X 215775 0 14235 MICHAEL DIETZ VP OF OPERATIONS 40.00 X 199318 0 76951 SARAH PETERSON VP OF ENGINEERING 40.00 X 191386 0 18423 RYAN FEDIE VP ENERGY SERVICES THRU SEPT 2024 40.00 X 198837 0 21731 BRANDI ADELMANN DIRECTOR OF HUMAN RESOURCES 40.00 X 187115 0 31327 JOSEPH JUTZ FOREMAN - CONSTRUCTION 52.67 X 183541 0 43133 TERRI BAKKEN VP MEMBER SERVICES 40.00 X 176968 0 80515 STUART HAEFNER FOREMAN - LEAD 49.41 X 175044 0 70552 2085256 0 645073 56 0 1 0 DONLIE UNDERGROUND INC 10210 WEST 235TH ST LAKEVILLE MN 55044 UNDERGROUND LINE SERVICES 3071128 CARR'S TREE SERVICE INC 307 STATE HWY 78 NORTH OTTERTAIL MN 56571 TREE TRIMMING & SPRAYING SERVICES 1766851 HIGHLINE CONSTRUCTION INC 16124 OLD LAKE RD PAYNESVILLE MN 56362 OVERHEAD/UNDERGROUND LINE SERVICES 785329 MBI DESIGNBUILD LLC 1250 TAYLOR DR NE ELYSIAN MN 56028 ENGINEERING DESIGN SERVICES 552517 USIC LOCATING SERVICES LLC 2632 HAPPY VALLEY RD SUN PRAIRIE WI 53590 UNDERGROUND LOCATING SERVICES 514472 11 CONSUMER ELECTRIC SALES 221000 104807898 104807898 POLE RENTALS 900099 47013 47013 104854911 290703 290703 506291 93555 412736 412736 412736 111137 347021 -235884 -235884 CAPITAL CREDITS 900099 2935464 2935464 OTHER INCOME 900099 15442 15442 MVUS LLC 900099 -2287 -2287 2948619 108271085 107507478 -2287 765894 X 6965125 1415617 4839466 6812790 COST OF POWER 69325665 DISTRIBUTION EXPENSE - 9995925 GENERAL AND ADMINISTRAT 6600781 CONSUMER ACCOUNTS - LAB 2615282 2007143 110577794 4318805 6748083 3000000 5000000 13226759 14066803 151601 120138 4638580 4482889 390426 334659 251152746 69108931 170516961 182043815 53872114 56002367 7686 6620 250122932 268805374 15131872 16872708 133621555 139523622 13000000 15241128 3007572 8677582 164760999 180315040 X 0 0 0 0 85361933 88490334 85361933 88490334 250122932 268805374 X -2306709 5435110 X X 0 1 X 1 0 2682474 2682474 8187583 4343161 3844422 15392024 11572451 3819573 224890665 53193319 171697346 182043815 GREAT RIVER ENERGY/COOP POWER ASSOC 33743977 C NRUCFC CAPITAL TERM CERTIFICATES 705428 C FEDERATED ACQUISITIONS, LLC 2008652 C OTHER INVESTMENTS 3329517 C BASIN ELECTRIC 14714793 C CFC MEMBER CAPITAL CERTIFICATE 1500000 C 56002367 CUSTOMER DEPOSITS 909071 UNLOCATED PATRONS 1954945 MISC UNCLAIMED PROPERTY 19297 DEFERRED STABILIZATION 3829498 DEFERRED WORK ORDER EXPENSES 1964771 8677582 X PART X, LINE 2: THE COOPERATIVE IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES UNDER 501(C)(12) OF THE INTERNAL REVENUE CODE. THE COMPANY'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 COMPANY ARE SUBJECT TO EXAMINATION BY THE IRS, GENERALLY FOR THREE YEARS AFTER THEY WERE FILED. TAX FILINGS ARE CURRENT. X 0 0 0 MARVIN DENZER CEO 379334 0 0 0 10458 0 276820 0 12114 0 678726 0 0 0 MICHAEL DIETZ VP OF OPERATIONS 190580 0 500 0 8238 0 66236 0 11443 0 276997 0 0 0 TERRI BAKKEN VP MEMBER SERVICES 175198 0 500 0 1270 0 59995 0 21248 0 258211 0 0 0 STUART HAEFNER FOREMAN - LEAD 174216 0 500 0 328 0 60793 0 9906 0 245743 0 0 0 RANDY ERDMAN VP OF FINANCE 214926 0 333 0 516 0 12539 0 2424 0 230738 0 0 0 JOSEPH JUTZ FOREMAN - CONSTRUCTION 182935 0 500 0 106 0 21126 0 22154 0 226821 0 0 0 RYAN FEDIE VP ENERGY SERVICES THRU SEPT 2024 197934 0 500 0 403 0 20144 0 2133 0 221114 0 0 0 BRANDI ADELMANN DIRECTOR OF HUMAN RESOURCES 186063 0 500 0 552 0 18843 0 13213 0 219171 0 0 0 SARAH PETERSON VP OF ENGINEERING 184229 0 500 0 6657 0 18423 0 728 0 210537 0 0 0 CARR'S TREE SERVICE INC ENTITY FOR WHICH MARVIN DENZER, CEO, WAS SERVING AS DIRECTOR 1766851 TREE TRIMMING 0 FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION IS A MEMBER OWNED COOPERATIVE. FORM 990, PART VI, SECTION A, LINE 7A THERE IS ONE CLASS OF MEMBERSHIP AND MEMBERS ELECT THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 7B THE MEMBERS VOTE ON SIGNIFICANT ISSUES AT THE ANNUAL MEMBERSHIP MEETINGS. EACH MEMBER HAS ONE VOTE PER ISSUE. 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 990 WAS GIVEN TO EACH DIRECTOR AND THE CEO FOR REVIEW PRIOR TO FILING WITH THE IRS. EACH DIRECTOR REVIEWED THE RETURN INDIVIDUALLY PRIOR TO THE BOARD MEETING. THE BOARD THEN APPROVED THE 990 AT THE MEETING. FORM 990, PART VI, SECTION B, LINE 12C ANNUALLY DIRECTORS, OFFICERS, AND KEY EMPLOYEES COMPLETE A CONFLICT OF INTEREST CERTIFICATION AND DISCLOSURE FORM, WHICH WILL THEN BE REVIEWED BY LEGAL COUNSEL. ALL OTHER EMPLOYEES ARE REQUIRED TO DISCLOSE ANY CONFLICTS TO THE CEO OR DIRECTOR OF HR. FORM 990, PART VI, SECTION B, LINE 15 CEO - COMPENSATION WAS DETERMINED AND APPROVED BY THE BOARD. OTHER OFFICERS & KEY EMPLOYEES - ANNUAL PERFORMANCE REVIEWS ARE COMPLETED ALONG WITH WAGE AND SALARY ADJUSTMENTS. PAY TABLES ARE ADJUSTED FROM TIME TO TIME BASED ON MARKET CONDITIONS. AN OUTSIDE CONSULTANT WAS USED TO ESTABLISH THE INITIAL PAY PLAN. THE COOPERATIVE FOLLOWS EMPLOYEE POLICY #E-08 REGARDING COMPENSATION PRACTICES FOR NON-UNION PERSONNEL. THE UNION PERSONNEL COMPENSATION IS BASED ON THE COLLECTIVE BARGAINING AGREEMENT. FORM 990, PART VI, SECTION C, LINE 18 THE ORGANIZATION'S PUBLIC INSPECTION COPY OF FORM 990 IS AVAILABLE UPON REQUEST. FORM 990, PART VI, SECTION C, LINE 19 DOCUMENTS ARE PROVIDED UPON REQUEST. FORM 990, PART VII, SECTION A, LINE 1A: INCLUDED IN PART VII, SECTION A, LINE 1A, COLUMN F, IS THE ESTIMATED ANNUAL INCREASE IN THE ACTUARIAL VALUE OF THE DEFINED BENEFIT PLAN. THIS AMOUNT IS AN ESTIMATE OF THE INCREASE OF THE VALUE OF THE PLAN AND IS NOT A CURRENT YEAR EXPENSE OF THE COOPERATIVE. CURRENT YEAR CONTRIBUTIONS INTO THE DEFINED BENEFIT PLAN ARE A CURRENT YEAR EXPENSE AND ARE INCLUDED IN PART IX, LINE 5. 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: EQUITY CAPITAL CREDITS RETIRED -1,557,474. ALLOCATED CAPITAL CREDITS 6,965,125. PARTNERSHIP INCOME - BOOK VS. TAX D 11,779. LLC ADJUSTMENT 15,680. FORM 990, PART XII, LINE 2C OVERSIGHT PROCESS OF THE AUDIT AND SELECTION PROCESS OF THE INDEPENDENT AUDITORS HAS NOT CHANGED FROM THE PRIOR YEAR. FORM 990, PART VI, SECTION B, LINE 16B THE COOPERATIVE'S POLICY REGARDING PARTICIPATION IN JOINT VENTURES IS NOT WRITTEN. HOWEVER, THE COOPERATIVE PERFORMS AN 85% TEST ON AN ANNUAL BASIS TO ENSURE THAT IT MAINTAINS ITS TAX EXEMPT STATUS, AND THE OTHER JOINT VENTURE MEMBER IS ALSO A COOPERATIVE. ADDITIONALLY, THE JOINT VENTURE ARRANGEMENT IS REVIEWED AND MONITORED BY THE BOARD OF DIRECTORS. MINNESOTA VALLEY UTILITY SERVICES 125 MINNESOTA VALLEY ELECTRIC DRIVE JORDAN MN 55352 813074308 PROVIDES UTILITY CONSULTING SERVICES MN -2260 19840 MINNESOTA VALLEY ELECTRIC COOPERATIVE MINNESOTA VALLEY ELECTRIC TRUST 125 MINNESOTA VALLEY ELECTRIC DRIVE JORDAN MN 55352 411821090 COLLECT & DISBURSE FUNDS FOR CHARITABLE AND EDUCATIONAL PURPOSES MN 501(C)(3) 7 N/A 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0