2025-11-07T09:11:11-06:00 2024-12-31 390859910 BAKER TILLY ADVISORY GROUP LP 225 S 6TH ST 2300 MINNEAPOLIS MN 55402 990 2024-01-01 043736566 MIDWEST RELIABILITY ORGANIZATION MIDW 6518551760 380 ST PETER STREET 800 ST PAUL MN 55102 LAM CHUNG VP OF FINANCE/TREASURER 6518551760 2025-09-18 1 1 KAREN A GRIES P00078514 6128764500 2025-09-18 2024 2025-03-06 01:10:19Z SARA PATRICK 380 ST PETER STREET 800 ST PAUL MN 55102 24614344 0 X WWW.MRO.NET X 2002 DE ENSURE THE RELIABILITY OF THE BULK POWER SYSTEM IN THE NORTH CENTRAL PART OF NORTH AMERICA. THE PRIMARY FOCUS IS ASSESSING COMPLIANCE WITH RELIABILITY STANDARDS ON ENTITIES THAT OWN, OPERATE OR USE THE BULK POWER SYSTEM ("BPS"), PERFORMING ASSESSMENTS OF THE BPS, AND TECHNICAL ANALYSIS OF MATTERS IMPACTING THE RELIABILITY OF THE BPS IN THE NORTH CENTRAL PART OF NORTH AMERICA. 22 18 96 19 0 0 20507276 0 0 23978417 540894 635927 226200 0 21274370 24614344 0 0 0 0 16484551 18826086 0 0 0 4705657 4330882 21190208 23156968 84162 1457376 18019999 19353766 9232546 8827026 8787453 10526740 X TO IDENTIFY, PRIORITIZE AND ASSURE EFFECTIVE AND EFFICIENT MITIGATION OF RISKS TO THE RELIABILITY AND SECURITY OF THE NORTH AMERICAN BULK POWER SYSTEM BY PROMOTING HIGHLY EFFECTIVE RELIABILITY ORGANIZATIONS (HEROS). 0 0 9150327 0 16404990 COMPLIANCE MONITORING ENFORCEMENT PROGRAM: THE MRO STAFF WILL MONITOR, ASSESS, AND ENFORCE COMPLIANCE OF RELIABILITY STANDARDS FOR EACH REGISTRANT (ALSO KNOWN AS REGISTERED ENTITY) THAT HAS COMPLIANCE RESPONSIBILITIES AS DEFINED IN THE MRO REGISTRY IN A NON-DISCRIMINATORY MANNER WITH THE APPROPRIATE DUE PROCESS. IN THE UNITED STATES, MRO ENFORCES RELIABILITY STANDARDS ACCORDING TO COMMISSION-APPROVED RULES (COMPLIANCE MONITORING AND ENFORCEMENT PROGRAM OR "CMEP"). IN SASKATCHEWAN, MRO CARRIES OUT ITS RESPONSIBILITIES ACCORDING TO AN AGREEMENT WITH THE APPLICABLE PROVINCIAL AUTHORITY. IN MANITOBA, MRO CARRIES OUT ITS RESPONSIBILITIES ACCORDING TO THE APPLICABLE STATUTORY FRAMEWORK IN THE PROVINCE. 2668845 0 5524921 RELIABILITY ASSESSMENT:THE MRO ANALYZES, ASSESSES, AND REPORTS ON RELIABILITY AND RESOURCE ADEQUACY IN THE PAST, PRESENT, AND FUTURE. THIS INCLUDES THE LONG-TERM AND SEASONAL ASSESSMENTS AS REQUIRED BY THE RDA. ADDITIONALLY, NERC SHALL ALSO CONDUCT SPECIAL RELIABILITY ASSESSMENTS AS NEEDED. 571895 0 1927149 TRAINING AND EDUCATION: MRO IDENTIFY, PRIORITIZE AND ASSURE EFFECTIVE AND EFFICIENT MITIGATION OF RISKS TO THE RELIABILITY AND SECURITY OF THE NORTH AMERICAN BULK POWER SYSTEM BY PROMOTING HIGHLY EFFECTIVE RELIABILITY ORGANIZATIONS (HEROS)." BY PROVIDING TRAINING AND EDUCATION TO INDUSTRY ON THE IMPLEMENTATION OF THE CMEP, THE APPLICATION OF NERC RELIABILITY STANDARDS, AND SHARING INFORMATION AND BEST PRACTICES RELATED TO RELIABILITY AND SECURITY OF THE BULK POWER SYSTEM IN MRO'S REGIONAL FOOTPRINT. IN PARTNERSHIP WITH NERC AND THE OTHER REGIONAL ENTITIES, MRO IS EXPANDING OUTREACH TO STATE AND PROVINCIAL REGULATORS TO EDUCATE AND INFORM KEY DECISION AND POLICY MAKERS OF RISKS TO RELIABILITY AND SECURITY OF THE BULK POWER SYSTEM. 6668539 0 121357 REMAINING PROGRAMS:MRO IS ACCOUNTABLE TO REGULATORS IN THE UNITED STATES AND CANADA FOR THE CONDUCT OF ITS WORK AND MUST SUBMIT PERFORMANCE ASSESSMENTS ON A PERIODIC BASIS AND ITS BUDGET IS SUBJECT TO REVIEW AND COMMENTS BY THE PUBLIC AND ULTIMATELY APPROVED BY US REGULATORY AUTHORITIES. 6668539 0 121357 19059606 1 0 0 0 0 0 0 0 0 0 1 0 0 1 1 1 1 0 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 27 0 1 96 1 0 0 0 0 0 0 0 0 0 0 0 0 X 22 18 0 0 0 0 1 1 1 1 0 0 0 1 1 1 1 1 1 1 1 0 MN X LAM CHUNG 6518551760 380 ST PETER STREET 800 ST PAUL MN 55102 JEANNE TISINGER INDEPENDENT DIRECTOR 6.00 X 87750 0 0 ERIC SCHMITT INDEPENDENT DIRECTOR 5.00 X 87750 0 0 DR DANA BORN CHAIR/INDEPENDENT DIRECTOR 6.00 X X 97750 0 0 THOMAS GRAHAM INDEPENDENT DIRECTOR 6.00 X 95750 0 0 JP BRUMMOND VICE CHAIR 5.00 X X 0 0 0 DARCY NEIGUM DIRECTOR 5.00 X 0 0 0 DARYL MAXWELL DIRECTOR 5.00 X 0 0 0 DEHN STEVENS DIRECTOR 5.00 X 0 0 0 ERIC MILLER DIRECTOR 5.00 X 0 0 0 FRED MEYER DIRECTOR 5.00 X 0 0 0 IQBAL DHAMI DIRECTOR 5.00 X 0 0 0 JENNIFER FLANDERMEYER DIRECTOR 5.00 X 0 0 0 JOANN THOMPSON DIRECTOR 5.00 X 0 0 0 JOHN RHEA DIRECTOR 5.00 X 0 0 0 BEN PORATH DIRECTOR 5.00 X 0 0 0 LLOYD LINKE DIRECTOR 5.00 X 0 0 0 MAURICE MOSS DIRECTOR (OUTGOING) 5.00 X 0 0 0 MICHAEL DESSELLE DIRECTOR 5.00 X 0 0 0 PAUL CRIST DIRECTOR 5.00 X 0 0 0 PRITI PATEL DIRECTOR 5.00 X 0 0 0 SANDRA JOHNSON DIRECTOR 5.00 X 0 0 0 TIM MCCOLLOUGH DIRECTOR 5.00 X 0 0 0 TOM FINCO DIRECTOR 5.00 X 0 0 0 SARA PATRICK PRESIDENT/CEO 45.00 X 663607 0 154069 RICHARD BURT SR. VP & COO 45.00 X 485270 0 94269 JULIE PETERSON VP GENERAL COUNSEL/SECRETARY 45.00 X 324674 0 72849 LAM CHUNG VP OF FINANCE/TREASURER 45.00 X 386598 0 83386 BRYAN CLARK DIRECTOR OF RELIABILITY ANALYSIS 45.00 X 267689 0 49264 WILLIAM STEINER DIRECTOR OF COMPLIANCE MONITORING 45.00 X 250478 0 81422 MARK TIEMEIER PRINCIPAL TECHNICAL ADVISOR 45.00 X 237867 0 50281 MARK FLANARY DIR OF RISK ASSESSMENT & MITIGATION 45.00 X 230216 0 83612 STEEN FJALSTAD DIRECTOR OF SECURITY 45.00 X 229499 0 66093 SALVA ANDIAPPAN PRINCIPAL RELIABILITY ANALYSIS ENG. 45.00 X 226823 0 82979 KEN GARTNER DIRECTOR OF IT 45.00 X 217195 0 62575 JESSICA SYRING MANAGER OF CIP COMPLIANCE 45.00 X 218076 0 28001 JULIE SIKES MANAGER OF O&P COMPLIANCE 45.00 X 218472 0 74857 4325464 0 983657 64 0 1 0 ATOMIC DATA LLC 250 MARQUETTE AVE SUITE 225 MINNEAPOLIS MN 55401 IT CONSULTING 332690 1 ASSESSMENTS 221000 23583367 23583367 PENALTY SANCTIONS 221000 395050 395050 23978417 635927 635927 24614344 23978417 0 635927 3884550 3263079 621471 10161271 8535615 1625656 2170616 1821726 348890 1677492 1407863 269629 932157 782328 149829 21845 16262 5583 66000 66000 608036 421853 186183 699194 520511 178683 481042 358109 122933 1066572 856574 209998 346786 258163 88623 204386 152154 52232 720257 578445 141812 116764 86924 29840 23156968 19059606 4097362 0 5634 47810 10751072 12750266 430591 325488 8352181 6185095 2477876 2167086 166867 161096 4187959 3902020 18019999 19353766 2819161 2663285 6413385 6163741 9232546 8827026 X 8787453 10526740 8787453 10526740 18019999 19353766 X 1457376 281911 X 0 1 X 1 0 X 16983251 17500329 18224540 20733476 23978417 97420013 16983251 17500329 18224540 20733476 23978417 97420013 0 10114160 10398152 10821830 12203232 13919069 57456443 10114160 10398152 10821830 12203232 13919069 57456443 39963570 7483 419 73480 540894 635927 1258203 7483 419 73480 540894 635927 1258203 4147 4382 11850 20379 16994881 17505130 18309870 21274370 24614344 98698595 0.40490 0.40700 0.01270 0.00690 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: MISCELLANEOUS - 2020 AMOUNT: $ 4,147. 2021 AMOUNT: $ 4,382. 2022 AMOUNT: $ 11,850. 2023 AMOUNT: $ 0. 2024 AMOUNT: $ 0. 2611220 1442409 1168811 4403075 3551807 851268 1337886 1190879 147007 2167086 SECURITY DEPOSIT 39858 RIGHT-OF-USE ASSET 3714462 NET BENEFIT ASSET (POSTRETIREMENT MEDICAL) 147700 3902020 ACCRUED RETIREMENT PLAN CONTRIBUTIONS 1230316 RETIREMENT PLAN LIABILITY 161096 LEASE LIABILITY 4772329 6163741 X 24896255 281911 281911 24614344 0 24614344 23156968 0 23156968 0 23156968 PART X, LINE 2: THE INTERNAL REVENUE SERVICE (IRS) HAS DETERMINED THAT THE ORGANIZATION IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE ORGANIZATION IS ALSO EXEMPT FROM STATE INCOME TAXES UNDER APPLICABLE STATE PROVISIONS. HOWEVER, ANY UNRELATED BUSINESS INCOME MAY BE SUBJECT TO TAXATION. THE ORGANIZATION FOLLOWS THE ACCOUNTING STANDARDS FOR CONTINGENCIES IN EVALUATING UNCERTAIN TAX POSITIONS. THIS GUIDANCE PRESCRIBES RECOGNITION THRESHOLD PRINCIPLES FOR THE FINANCIAL STATEMENT RECOGNITION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN ON A TAX RETURN THAT ARE NOT CERTAIN TO BE REALIZED. NO LIABILITY HAS BEEN RECOGNIZED BY THE ORGANIZATION FOR UNCERTAIN TAX POSITIONS AS OF DECEMBER 31, 2024 AND 2023. THE ORGANIZATION'S TAX RETURNS ARE SUBJECT TO REVIEW AND EXAMINATION BY FEDERAL AND STATE AUTHORITIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN POSTRETIREMENT MEDICAL BENEFIT OBLIGATIONS 192,596. OTHER COMPONENTS OF NET PERIODIC PENSION COST 89,315. NORTH AMERICA - CANADA AND MEXICO, BUT NOT THE UNITED STATES 0 0 PROGRAM SERVICE DELEGATION OF AUTHORITY BY PROVINCIAL AGREEMENT 2555879 0 0 0 0 0 0 2555879 0 2555879 0 0 0 0 0 0 X X X X X 0 0 0 0 0 0 0 1 0 SARA PATRICK PRESIDENT/CEO 476945 0 184716 0 1946 0 120293 0 33776 0 817676 0 0 0 RICHARD BURT SR. VP & COO 392475 0 90863 0 1932 0 65978 0 28291 0 579539 0 0 0 LAM CHUNG VP OF FINANCE/TREASURER 313418 0 71239 0 1941 0 48557 0 34829 0 469984 0 0 0 JULIE PETERSON VP GENERAL COUNSEL/SECRETARY 260760 0 62000 0 1914 0 40179 0 32670 0 397523 0 0 0 WILLIAM STEINER DIRECTOR OF COMPLIANCE MONITORING 225406 0 21530 0 3542 0 48476 0 32946 0 331900 0 0 0 BRYAN CLARK DIRECTOR OF RELIABILITY ANALYSIS 237759 0 26501 0 3429 0 21556 0 27708 0 316953 0 0 0 MARK FLANARY DIR OF RISK ASSESSMENT & MITIGATION 207259 0 19405 0 3552 0 45557 0 38055 0 313828 0 0 0 SALVA ANDIAPPAN PRINCIPAL RELIABILITY ANALYSIS ENG. 205229 0 18104 0 3490 0 52652 0 30327 0 309802 0 0 0 STEEN FJALSTAD DIRECTOR OF SECURITY 206088 0 19941 0 3470 0 41396 0 24697 0 295592 0 0 0 JULIE SIKES MANAGER OF O&P COMPLIANCE 196042 0 18937 0 3493 0 44092 0 30765 0 293329 0 0 0 MARK TIEMEIER PRINCIPAL TECHNICAL ADVISOR 213442 0 20978 0 3447 0 26953 0 23328 0 288148 0 0 0 KEN GARTNER DIRECTOR OF IT 194868 0 18875 0 3452 0 37896 0 24679 0 279770 0 0 0 JESSICA SYRING MANAGER OF CIP COMPLIANCE 197080 0 18816 0 2180 0 11500 0 16501 0 246077 0 0 0 PART I, LINE 7 EMPLOYEES' BONUS ARE SET PER MRO'S INTERNAL GOALS GUIDELINE POLICY. ALL STAFF HAVE A BONUS INCENTIVE TARGET. NON-EXECUTIVE STAFF HAVE A TARGET OF 10% (FY2024). THAT TARGET IS COMPRISED OF MEETING CORPORATE GOALS (50%), DEPARTMENT GOALS (25%), AND INDIVIDUAL CONTRIBUTOR GOALS (25%). THAT POLICY IS REVIEWED BY THE EXECUTIVE TEAM WITH THE FINAL APPROVAL OF THE PRESIDENT AND CEO ANNUALLY. FORM 990, PART VI, SECTION A, LINE 6 THE CORPORATION HAS TWO CLASSES OF MEMBERS, MEMBERS AND ADJUNCT MEMBERS: A MEMBER MAY BE ANY ENTITY ELIGIBLE TO BE A MEMBER OF ANY INDUSTRY SECTOR. EACH MEMBER/ENTITY IN GOOD STANDING IS ENTITLED TO ONE VOTE IN THE INDUSTRY SECTOR IN WHICH IT IS A MEMBER ON MATTERS SUBMITTED TO A VOTE OF MEMBERS. VOTING OF THE MEMBERS IS BY SECTOR, WITH EACH SECTOR ENTITLED TO THE SAME NUMBER OF VOTES AS IT HAS DIRECTORS ON THE BOARD. ADJUNCT MEMBERS MAY BE ANY ENTITY THAT IS NOT ELIGIBLE TO BELONG TO ANY INDUSTRY SECTOR, HAS MATERIAL INTEREST IN RELIABILITY ISSUES IN THE CORPORATION'S REGION AND BECOMES AN ADJUNCT MEMBER OF THE CORPORATION. ADJUNCT MEMBERS RECEIVE ALL MEETING NOTICES AND MAY ATTEND MEETINGS. ADJUNCT MEMBERS DO NOT HAVE VOTING RIGHTS. FORM 990, PART VI, SECTION A, LINE 7A AS PROVIDED IN THE CORPORATION'S BYLAWS, 19 OF THE BOARD MEMBERS ARE ELECTED BY MEMBERS OF THE ORGANIZATION BELONGING TO THE FOLLOWING INDUSTRY SECTORS: TRANSMISSION SYSTEM OPERATORS SECTOR, GENERATORS AND POWER MARKETERS SECTOR, INVESTOR OWNED UTILITIES SECTOR, COOPERATIVE SECTOR, MUNICIPAL UTILITIES SECTOR, FEDERAL POWER MARKETING AGENCIES, AND THE CANADIAN UTILITIES SECTOR. FORM 990, PART VI, SECTION A, LINE 7B THE CORPORATION MAY SELL, LEASE, TRANSFER, OR DISPOSE OF ALL OR SUBSTANTIALLY ALL OF ITS PROPERTY, ASSETS, INCLUDING ITS GOODWILL, NOT IN THE USUAL AND REGULAR COURSE OF ITS ACTIVITIES, UPON THOSE TERMS AND CONDITIONS AND FOR THOSE CONSIDERATIONS, WHICH MAY BE MONEY, SECURITIES, OR OTHER INSTRUMENTS FOR THE PAYMENT OF MONEY OR OTHER PROPERTY AS THE BOARD OF DIRECTORS CONSIDERS EXPEDIENT ONLY WHEN APPROVED AT A REGULAR OR SPECIAL MEETING OF THE MEMBERS BY THE AFFIRMATIVE VOTE OF 2/3 OF ALL THE MEMBERS. FORM 990, PART VI, SECTION A, LINE 8B THE ORGANIZATION DOES NOT HAVE ANY COMMITTEES THAT HAVE THE AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY THE ORGANIZATION'S PUBLIC ACCOUNTING FIRM BASED ON INFORMATION PROVIDED BY MANAGEMENT. ONCE THE DRAFT IS AVAILABLE, IT IS REVIEWED BY MANAGEMENT AND ANY CHANGES INCORPORATED INTO THE FILING. ONCE THIS DETAILED REVIEW IS COMPLETE, THE DRAFT OF THE FORM 990 IS PRESENTED TO THE BOARD OF DIRECTORS FOR THEIR REVIEW AND COMMENTS PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C ANY DIRECTOR, OFFICER, EMPLOYEE AND AGENT OF MRO AND ANY MEMBER AND ITS REPRESENTATIVES WHO SERVE ON ANY MRO COMMITTEE, ORGANIZATIONAL GROUP, WORKING GROUP OR TASK FORCE MUST DISCLOSE THE EXISTENCE OF ANY FINANCIAL INTEREST THAT MAY CREATE ANY ACTUAL OR POSSIBLE CONFLICT OF INTEREST IN ANY TRANSACTION OR ARRANGEMENT. A PERSON HAS A FINANCIAL INTEREST IF THE PERSON HAS, DIRECTLY OR INDIRECTLY, THROUGH BUSINESS, INVESTMENT, OR FAMILY: AN OWNERSHIP OR INVESTMENT INTEREST IN ANY ENTITY WITH WHICH MRO HAS A TRANSACTION OR ARRANGEMENT; OR A COMPENSATION ARRANGEMENT WITH MRO OR WITH ANY ENTITY OR INDIVIDUAL WITH WHICH MRO HAS A TRANSACTION OR ARRANGEMENT; OR A POTENTIAL OWNERSHIP OR INVESTMENT INTEREST IN, OR COMPENSATION ARRANGEMENT WITH, ANY ENTITY OR INDIVIDUAL WITH WHICH MRO IS NEGOTIATING A TRANSACTION OR ARRANGEMENT. FORM 990, PART VI, SECTION B, LINE 15 A PERFORMANCE EVALUATION OF THE MRO PRESIDENT IS PERFORMED BY THE GOVERNANCE AND PERSONNEL COMMITTEE WITH INPUT AND REVIEW BY THE ENTIRE BOARD OF DIRECTORS, AND IS BASED UPON THE ORGANIZATION'S GOALS AND OBJECTIVES. IN ADDITION, THE BOARD MAY INITIATE AN INDEPENDENT COMPENSATION REVIEW OF THE POSITION OF MRO PRESIDENT WHEN APPROPRIATE. THE MRO PRESIDENT'S COMPENSATION IS APPROVED BY THE BOARD AND THE COMPENSATION DECISION IS DOCUMENTED IN THE PERSONNEL FILES. FOR OTHER OFFICERS AND KEY EMPLOYEES, THE PRESIDENT AND CEO OVERSEES COMPENSATION PER MRO'S COMPENSATION PHILOSOPHY FRAMEWORK. ANNUALLY THE PRESIDENT AND CEO REPORTS TO THE BOARD RESULTS OF HIS/HER EVALUATION OF ALL OTHER EXECUTIVE AND KEY STAFF. AT TIMES, THIS EVALUATION IS SUPPLEMENTED BY INDEPENDENT OR THIRD-PARTY MARKET OR COMPENSATION STUDIES. ALL COMPENSATION DECISIONS ARE DOCUMENTED IN PERSONNEL FILES. FORM 990, PART VI, SECTION C, LINE 19 MRO'S GOVERNING DOCUMENTS, POLICIES, AND AUDITED STATEMENTS WITH INDEPENDENT REPORTS ARE AVAILABLE FOR REVIEW ON ITS WEBSITE. FORM 990, PART XI, LINE 9: CHANGE IN POSTRETIREMENT MEDICAL BENEFIT OBLIGATIONS 192,596. OTHER COMPONENTS OF NET PERIODIC PENSION COST 89,315.