2024-07-17T19:56:18-05:00 2023-12-31 450250958 Eide Bailly LLP 4585 Coleman St Ste 200 Bismarck ND 58503 990 2023-01-01 450216732 Mountrail-Williams Electric Cooperative MOUN 7015773765 PO Box 1346 Williston ND 588021346 Alex Vournas Current General Manager 7015773765 2024-07-15 1 Alex Vournas 999009999 1 Lisa Chaffee CPA P00193453 7012551091 2024-07-15 2 AAL1 IAL1 2023 2023-04-26 12:10:37Z Robert Grant PO Box 1346 Williston ND 588021346 499678426 0 X www.mwec.com X 1944 ND Meet the changing needs of members, provide excellent electric service & improve the community. 9 9 143 0 0 0 0 0 350278930 461375148 841917 2125227 31070 76109 351151917 463576484 0 0 50061173 52848618 20115543 20041889 0 0 0 280224447 388559140 350401163 461449647 750754 2126837 804528059 893263831 456444992 503966431 348083067 389297400 X Mountrail-Williams Electric Cooperative is a member-owned cooperative that exists to meet the changing needs of its membership, to provide them with personal, excellent service and to keep them fully informed about their cooperative. Our mission includes playing a leadership role in the community and contributing to improving the quality of life in our service area. We seek to accomplish these purposes by providing professional and personal development opportunities for employees and directors. Further, we seek to meet our responsibilities through prudent management and with rates that are fair and equitable. 0 0 Provided electric service to approximately 8,442 members servicing 5,446 miles of line. 0 0 0 0 0 0 0 1 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 1 1 0 0 1 376 0 1 143 1 0 0 0 0 0 435735792 2128030 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 Jay Lux 7015773765 PO Box 1346 Williston ND 588021346 X Robert Grant Chairperson 9.40 X X 28273 0 0 Blaine Jorgenson Secretary 7.80 X X 16393 0 0 Garrett Lalim Vice Chairperson 6.10 X X 16195 0 0 Kyle Detienne Treasurer 6.80 X X 23055 0 0 Charlene Aubol Director 9.30 X 29371 0 0 Jennifer Wade Director 8.30 X 19418 0 0 Pete Petersen Director 13.80 X 28552 0 0 Brion Norby Director 10.00 X 28263 0 0 Ryan Wilhelmi Director 5.20 X 22223 0 0 Dale L Haugen General Manager 46.30 X 342371 0 166656 Jay P Lux CFO 44.80 X 235511 0 182384 Alex Vournas COO 48.80 X 227599 0 75100 Jerry Rehak Special Projects Manager 40.90 X 201603 0 95363 Leah Johnson Ellis In-House Legal Counsel 41.30 X 195165 0 69635 Matthew Glueckert Operations Manager 44.30 X 179223 0 72922 Darin Swensrud Line Superintendent 41.70 X 175960 0 152897 1769175 0 814957 86 0 1 0 Anderson & Wood Construction 2120 E Lanark St Meridian ID 83642 Electric substation & Transmission Const 9937448 J Grubl Excavating PO Box 503 Sturgis SD 57785 Electric Distribution Construction 8071023 Keller Construction LLC 2902 Yale Court Rapid City SD 57702 Electric Distribution Construction 3524806 HDR Engineering Inc 970 S 29th St Billings MT 59102 Electrical Engineering 2308139 JRG Power LLC PO Box 503 Sturgis SD 57785 Electric Distribution Construction 1260301 15 Electric Revenues 221000 435946377 435946377 Capital Credits 221000 25428771 25428771 461375148 2126831 2126831 35454954 35456558 -1604 -1604 -1604 721493 645384 76109 76109 463576484 461451257 0 2125227 X 52848618 1083276 14412245 3424737 1121631 16767213 23200560 Cost of Power 333857478 Distribution Expense 19370627 Administrative and Gene 6809380 Customer Accounts 2035136 -13481254 461449647 36001569 28971184 30581650 35100519 18054531 29524298 30930449 52496759 758684593 176809140 546922877 581875453 623048 809654 500 500 141388282 164385964 25153 99500 804528059 893263831 38415476 46256044 17278801 20890439 1466 1458 364926986 397518587 35822263 39299903 456444992 503966431 X 14160124 15785704 0 0 333922943 373511696 348083067 389297400 804528059 893263831 X 2126837 39087496 X 0 1 X 1 0 0 1 X 7635202 7635202 75810514 11772911 64037603 613370920 165036229 448334691 61867957 61867957 581875453 Patronage Capital 163430470 C RESC Stock 500 C NRUFC Certificates 691369 C Memberships 9975 C Revolving Loan Pool 253650 C 164385964 Deferred Compensation 809654 Post Retirement Obligation 88196 Reserves For Plant and Power Improvement 25851173 Customer Deposits 3162737 Customer Construction Prepayments 9388143 39299903 X 463576484 0 463576484 0 463576484 408601029 0 408601029 52848618 52848618 461449647 Part IV, Line 2b: The Cooperative collects funds for the Operation Round Up program for the Mountrail Cooperative Trust and the Williams Cooperative Trust from the members. These funds are recorded as a liability on the Cooperative financials until they are released to the Trust on a quarterly basis. Mountrail Cooperative Trust receives 45% of the funds, while Williams Cooperative Trust receives 55% of the funds. The amount recorded in the financial statements at December 31, 2023 was $1,458. 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, 2023 and 2022, 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. The Cooperative is no longer subject to Federal tax examinations by tax authorities for years before 2020 and state examinations for years before 2020. Part XII, Line 4b - Other Adjustments: Allocated Patronage Capital 52,848,618. X X 0 0 0 Dale L Haugen General Manager 307182 0 1800 0 33389 0 134330 0 35684 0 512385 0 0 0 Jay P Lux CFO 230213 0 1800 0 3498 0 150604 0 34388 0 420503 0 0 0 Darin Swensrud Line Superintendent 172079 0 1800 0 2081 0 120610 0 34277 0 330847 0 0 0 Alex Vournas COO 225974 0 800 0 825 0 42255 0 35544 0 305398 0 0 0 Jerry Rehak Special Projects Manager 195694 0 1300 0 4609 0 64673 0 32968 0 299244 0 0 0 Leah Johnson Ellis In-House Legal Counsel 193651 0 800 0 714 0 36902 0 34923 0 266990 0 0 0 Matthew Glueckert Operations Manager 177772 0 800 0 651 0 39666 0 35254 0 254143 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 plans received from the NRECA. The current year expense and the increase in actuarial value for each employee are reflected in the statement for Form 990, Part VII, Column f. Form 990, Part VI, Section A, line 6 The Cooperative has one class of members. Each member has one vote. A household is considered to be one member. Form 990, Part VI, Section A, line 7a The members of the Cooperative elect the Board of Directors. Each member has one vote. Form 990, Part VI, Section A, line 7b Changes in the Cooperative's Bylaws and the sale of a high percentage of the Cooperative's assets must be approved by the members. Form 990, Part VI, Section A, line 8b There are no committees with the authority to act on behalf of the full Board of Directors. Form 990, Part VI, Section B, line 11b The Business Manager and General Manager will review a draft. The approved Form 990 will be presented at a board meeting prior to filing with the IRS. Form 990, Part VI, Section B, line 12c Directors of Mountrail-Williams Electric Cooperative are expected to disclose a situation which, in their opinion, is or could appear to be a conflict of interest. After such a disclosure, the Director must leave the Board meeting when issues involving the conflict of interest are discussed. The Director is not allowed to vote on issues regarding the conflict of interest. Form 990, Part VI, Section B, line 15 The Board performed an evaluation of the General Manager. They compared his compensation with the state wide salary survey as a guide to the compensation amount. The Board votes on the compensation. For the General Manager this is an annual occurrence. The Board negotiates with the union in regards to staff increases. The Business Manager's salary is determined by the General Manager. Form 990, Part VI, Section C, line 19 The Organization makes its governing documents, conflict of interest policy and financial statements available upon request. All new members receive a copy of the bylaws upon becoming a member. A financial report is distributed at the members' annual meeting. Form 990, Part VII Other Compensation: 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 is as follows for those listed in Part VII: Dale Haugen $121,694 Jay Lux $144,661 Alex Vournas $18,714 Jerry Rehak $56,561 Leah Johnson Ellis $16,623 Matthew Glueckert $20,922 Darin Swensrud $113,379 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: Dale Haugen $116,796 Jay Lux $88,205 Alex Vournas $35,002 Jerry Rehak $74,974 Leah Johnson Ellis $30,359 Matthew Glueckert $27,399 Darin Swensrud $66,834 Form 990, Part IX, Line 24e Allocated Costs: 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 on line 24e in the amount of $(20,041,889). Form 990, Part IX, Functional Expense, Line 4: Benefits Paid to Members: 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: Retirement of Capital Credits -14,635,943. Discounted Estate Requirements 19,409. Unclaimed Capital Credits 855,412. Patronage Capital Credits Allocated For Current Year 52,848,618. Mountrail Cooperative Trust Inc PO Box 1346 Williston ND 58802 911796201 Community Support ND 501(c)(3) 7 Mountrail-Williams Electric Cooperative 1 Williams Cooperative Trust Inc PO Box 1346 Williston ND 58802 911796235 Community Support ND 501(c)(3) 7 Mountrail-Williams Electric Cooperative 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 1 0