2025-12-23T14:56:02-06:00 2024-12-31 411360831 OLSEN THIELEN & CO LTD 2675 LONG LAKE ROAD ROSEVILLE MN 551131117 990 2024-01-01 410735682 ARROWHEAD ELECTRIC COOPERATIVE INC ARRO 2186637239 PO BOX 39 LUTSEN MN 556120039 JOHN TWIEST GENERAL MANAGER/CEO 2186637239 2025-11-18 1 1 RYAN VETTRUS CPA P01243596 6514834521 2024 2025-03-06 01:10:19Z JOHN TWIEST PO BOX 39 LUTSEN MN 556120039 17965861 0 X WWW.AECIMN.COM X 1953 MN ELECTRIC ENERGY DISTRIBUTION 7 1 33 0 0 0 1846227 1846227 15142538 15746443 17569 16164 440637 357027 17446971 17965861 0 0 0 0 505157 583725 0 0 0 13846842 14285299 14351999 14869024 3094972 3096837 45506230 50813613 23896350 26593683 21609880 24219930 ELECTRIC ENERGY DISTRIBUTION 0 0 DISTRIBUTED ELECTRIC ENERGY AND OTHER SERVICES TO CONSUMERS. 0 1 0 0 0 0 0 0 0 1 1 0 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 24 0 1 33 1 0 0 0 0 0 0 0 14892004 1227630 0 0 0 X 7 1 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X JENNY KARTES 2186637239 5401 W HIGHWAY 61 LUTSEN MN 55612 STANLEY TULL DIRECTOR THROUGH JULY, PRESIDENT 8.00 X X 11490 0 0 MIKE LITTFIN PRESIDENT THROUGH JULY,VICE PRESIDENT 8.00 X X 11080 0 0 MATTHEW SCHUERGER DIRECTOR BEGINNING AUGUST 8.00 X 3800 0 0 ROGER OPP TREASURER 8.00 X X 11534 0 0 DONNA LUNKE SECRETARY 8.00 X X 13200 0 0 MICHAEL VALENTINI VICE PRESIDENT THROUGH JULY 8.00 X X 5800 0 0 DON MCKEEVER DIRECTOR 8.00 X 10200 0 0 SHARON HEXUM-PLATZER DIRECTOR 8.00 X 16115 0 0 JENNY KARTES DIRECTOR OF FINANCE 41.00 X 144425 0 48164 JOHN TWIEST GENERAL MANAGER/CEO 48.00 X 237085 0 70833 SARA MCMANUS MEMBER SERVICE MANAGER 40.00 X 142050 0 46978 DERRICK SEIDEL COMMUNICATION LINEMAN 55.00 X 155553 0 40431 CODY SELGER LINEMAN 53.00 X 160650 0 16916 ERICK ARNOLD COMMUNICATION LINEMAN 48.00 X 135096 0 40644 NATHAN NORQUEST LINEMAN 54.00 X 133742 0 14337 1191820 0 278303 11 0 1 0 PARADIGM LINE CONSTRUCTION LLC 1820 VALLEY BLUFFS DR SE MINOT ND 58701 LINE CONSTRUCTION 992789 GULBRANSON EXCAVATING 4770 DIFFERDING POINT RD EVELETH MN 55734 LINE CONSTRUCTION 951752 MJ ELECTRIC INC PO BOX 686 IRON MOUNTAIN MI 49801 LINE CONSTRUCTION 433814 JAY CARLSON EXCAVATING 187 CASPERS HILL RD GRAND MARAIS MN 55604 LINE CONSTRUCTION 250255 FRIEST TREE EXPERTS 47732 273RD ST HARRISBURG SD 57032 TREE CLEARING 222518 5 1846227 1846227 ELECTRIC REVENUE 221000 11610242 11610242 TELECOM REVENUE 517000 4136201 4136201 15746443 16164 16164 CAPITAL CREDITS 900099 357027 357027 357027 17965861 16103470 0 16164 X 583725 60271 982893 1566232 COST OF POWER 5690755 TELECOM - PLANT OPERATI 1994665 DISTRIBUTIONS - OPERATI 1015060 DISTRIBUTIONS - MAINTEN 864419 2111004 14869024 31963 786967 285996 252445 2043835 2085620 3037924 2614665 215530 264087 62019805 22846543 34755401 39173262 5135581 5312647 0 323920 45506230 50813613 2518205 4177153 13588798 18548355 6000000 3000000 1789347 868175 23896350 26593683 X 0 0 0 0 21609880 24219930 21609880 24219930 45506230 50813613 X 3096837 123208 -609995 X X 0 1 X 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 658231 658231 5069851 1634010 3435841 37310347 21212533 16097814 18981376 18981376 39173262 GRE 4209970 C NRUCFC 235064 C CO-BANK 234097 C RESCO 167387 C FEDERAL RURAL ELECTRIC INSURANCE 115089 C NATIONAL INFORMATION SOLUTIONS CORP 37880 C MINNESOTA RURAL ELECTRIC TRUST 29526 C CENEX HARVEST STATES COOP 4703 C RLF 278931 C 5312647 DEFERRED CREDITS 769881 CUSTOMER DEPOSITS 98294 868175 X 17965861 0 17965861 0 17965861 14869024 0 14869024 0 14869024 PART X, LINE 2: ASC 740 STATEMENT FROM AUDITED FINANCIAL STATEMENTS: THE COOPERATIVE IS A COOPERATIVE ORGANIZED AND OPERATED ON A NONPROFIT BASIS, BUT WOULD FILE TAX RETURNS ON NET UNRELATED BUSINESS INCOME AS A TAX-EXEMPT ORGANIZATION. THE COOPERATIVE REVIEWS INCOME TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN INCOME TAX RETURNS TO DETERMINE IF THERE ARE ANY INCOME TAX UNCERTAINTIES. THE COOPERATIVE RECOGNIZES TAX BENEFITS FROM UNCERTAIN TAX POSITIONS ONLY IF IT IS MORE LIKELY THAN NOT THAT THE TAX POSITIONS WILL BE SUSTAINED ON EXAMINATION BY TAXING AUTHORITIES, BASED ON THE TECHNICAL MERITS OF THE POSITIONS. THE COOPERATIVE HAS IDENTIFIED NO SIGNIFICANT INCOME TAX UNCERTAINTIES. X X X X 0 0 0 JOHN TWIEST GENERAL MANAGER/CEO 237085 0 0 0 0 0 41569 0 29264 0 307918 0 0 0 DERRICK SEIDEL COMMUNICATION LINEMAN 155553 0 0 0 0 0 12830 0 27601 0 195984 0 0 0 JENNY KARTES DIRECTOR OF FINANCE 144425 0 0 0 0 0 19423 0 28741 0 192589 0 0 0 SARA MCMANUS MEMBER SERVICE MANAGER 142050 0 0 0 0 0 18389 0 28589 0 189028 0 0 0 CODY SELGER LINEMAN 160650 0 0 0 0 0 2670 0 14246 0 177566 0 0 0 ERICK ARNOLD COMMUNICATION LINEMAN 135096 0 0 0 0 0 12700 0 27944 0 175740 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 THE COOPERATIVE IS COMPRISED OF A SINGLE CLASS OF MEMBER-OWNERS. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBER-OWNERS OF THE COOPERATIVE HAVE THE AUTHORITY TO ELECT THE MEMBERS OF THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 7B THE MEMBER-OWNERS VOTE ON SIGNIFICANT ISSUES (CHANGES TO BYLAWS AND ARTICLES OF INCORPORATION) AT THE ANNUAL MEMBERSHIP MEETINGS. EACH MEMBER HAS ONE VOTE PER ISSUE. FORM 990, PART VI, SECTION B, LINE 11B PRIOR TO FILING THE FORM 990 IS REVIEWED AND APPROVED BY THE FINANCE & ADMINISTRATIVE MANAGER. THE BOARD REVIEWS AND APPROVES THE FORM AT THE FOLLOWING BOARD MEETING. FORM 990, PART VI, SECTION B, LINE 12C BOARD MEMBERS ARE REQUESTED TO APPROVE AND SIGN THE POLICY ANNUALLY. DIRECTORS MUST DISCLOSE ANY POSSIBLE CONFLICTS OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15 BOARD OF DIRECTORS REVIEW COMPENSATION POLICY AFTER EVERY ANNUAL MEETING. THE BOARD OF DIRECTORS REVIEW AND SET THE COMPENSATION BASED ON NATIONAL AND REGIONAL COMPENSATION SURVEYS AND MARKET DATA FOR THE CEO. FORM 990, PART VI, SECTION C, LINE 19 AVAILABLE UPON REQUEST DURING NORMAL BUSINESS HOURS. FORM 990, PART IX, LINE 24E TELECOM - ADMIN & GENERAL 644,451. TELECOM - CUSTOMER ACCOUNTS 465,133. ADMIN & GENERAL 386,873. CUSTOMER SERVICE & INFO 373,773. CUSTOMER ACCOUNTS 211,844. OTHER 28,930. FORM 990, PART XI, LINE 9: CHANGE IN UNCLAIMED CAPITAL CREDITS 21,584. RETIREMENT OF CAPITAL CREDITS -631,579. FORM 990, PART XII, LINE 2C: THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR