2024-09-06T11:27:29-05:00 2023-12-31 450310328 BRADY MARTZ & ASSOCIATES PC PO BOX 14296 GRAND FORKS ND 582084296 990 2023-01-01 410345595 KANDIYOHI POWER COOPERATIVE KAND 3207960991 8605 47TH ST NE SPICER MN 562880040 PATRICK KRUEGER CFO 3207960991 2024-09-05 1 0 DAVID HOLT P00014251 7017754685 2024-09-04 2023 2024-08-08 14:25:15Z PATRICK KRUEGER 8605 47TH ST NE SPICER MN 56288 24567532 0 X WWW.KPCOOP.COM X 1938 MN TO PROVIDE ELECTRIC DISTRIBUTION AND OTHER RELATED SERVICES TO ITS MEMBERS. 9 8 27 0 77764 47542 0 0 21429337 23071989 93995 110019 757998 1222248 22281330 24404256 25217 11220 892919 2358499 452964 489164 0 0 0 20710611 21309524 22081711 24168407 199619 235849 73609035 74936440 39176290 38986395 34432745 35950045 TO PROVIDE ELECTRIC DISTRIBUTION AND OTHER RELATED SERVICES TO ITS 8,981 MEMBERS. 0 0 DISTRIBUTION OF ELECTRIC ENERGY AND RELATED SERVICES 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 0 0 0 0 0 0 1 1 0 0 1 216 0 1 27 1 1 1 0 0 0 0 22951359 1086784 0 0 0 X 9 8 0 0 0 0 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 0 X PATRICK KRUEGER - CFO 3207960991 8605 47TH ST NE SPICER MN 56288 ROBBERT STONE DIRECTOR (THROUGH MARCH 2023) 4.08 X 2235 0 0 KELLY ERICKSON DIRECTOR 6.75 X 8705 0 0 TODD POST VICE CHAIR 10.00 X 10305 0 0 DAN POMRANKE DIRECTOR 5.99 X 8330 0 0 DIANE HELGESON DIRECTOR 5.36 X 8955 0 0 ROLLO CAMPE DIRECTOR 4.03 X 8580 0 0 STANLEY WUBBEN SECRETARY 6.52 X 8805 0 0 LARRY POWERS DIRECTOR 6.78 X 8455 0 0 DALE ANDERSON CHAIR 10.27 X 8655 0 0 DARRELL FOSTERVOLD DIRECTOR (STARTED APRIL 2023) 4.34 X 5345 0 0 RYAN NELSON CEO 40.00 X 177504 0 49802 PATRICK KRUEGER CFO 40.00 X 136536 0 44899 DUSTIN WELZ JOURNEYMAN LINE TECH IN-CHARGE 42.56 X 114754 0 30923 MICHAEL MARCUS JOURNEYMAN LINE TECH IN-CHARGE 42.52 X 113106 0 37081 ROBERT SANKEY JOURNEYMAN LINE TECH IN-CHARGE 42.42 X 114766 0 15237 CASEY JENNY JOURNEYMAN LINE TECH IN-CHARGE 42.57 X 111522 0 36969 TROY MEAD LINE FOREMAN 42.38 X 116169 0 37716 962727 0 252627 13 0 1 0 MIDWEST UNDERGROUND OF MN 4320 CO RD 8 SE WILLMAR MN 56201 PLOW UNDERGROUND CABLE 733370 PREMIER LOCATING INC PO BOX 459 BUFFALO MN 55313 UNDERGROUND UTILITY CONTRACTOR 322865 TREESTORY 72150 CSAH 21 DASSEL MN 55325 TREE SERVICE 294063 STAR ENERGY SERVICES 6841 POWER LN SW ALEXANDRIA MN 56308 PROFESSIONAL SERVICES/CONSULTING 275983 B & B TRANSFORMER INC 2850 220TH ST W FARMINGTON MN 55024 INVENTORY REFURBISHMENT 216080 5 ELECTRIC REVENUE 221000 22902006 22902006 OTHER REVENUE 221000 169983 169983 23071989 96301 96301 198446 159767 38679 38679 38679 17227 3509 13718 13718 13718 CAPITAL CREDITS 221000 855733 855733 OTHER REVENUE 900099 250072 250072 K-1 HEARTLAND SECURITY 900099 54541 54541 23223 23223 1183569 24404256 23941440 77764 385052 X 11220 2358499 489164 1180953 2495910 COST OF POWER 12805371 DIST EXPENSE OPER & MAI 2664082 ADMIN & GEN EXPENSE 1397178 CONSUMER ACCT EXPENSES 407243 358787 24168407 689576 352075 2979930 2907132 6000 6000 2520424 3393259 1234232 901399 82174103 27634621 53858319 54539482 1055328 1320205 11265226 11516888 73609035 74936440 4241740 4110922 123805 103477 34767241 34106077 43504 665919 39176290 38986395 X 0 0 0 0 34432745 35950045 34432745 35950045 73609035 74936440 X 235849 1281451 X 0 1 X 1 0 247249 247249 2062904 7043174 3409305 5696773 72110990 24225316 47885674 709786 709786 54539482 UPA & GREAT RIVER ENERGY PATRONAGE 8904098 C NRUCFC PATRONAGE CAPITAL 1141463 C OTHER PATRONAGE CAPITAL 117704 C CFC CAPITAL TERM CERT 853623 C CFC MEMBER CAPITAL SECURITIES 500000 C 11516888 CONSUMERS' DEPOSITS 46883 ERC CONTINGENT LIABILITY 619036 665919 X PART X, LINE 2: THE COOPERATIVE IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(12) OF THE INTERNAL REVENUE CODE. EARNINGS OR LOSSES FROM EQUITY INVESTMENTS ARE REPORTED AS UNRELATED BUSINESS INCOME (UBI) BY THE COOPERATIVE AND FILED ANNUALLY ON FEDERAL FORM 990T. THERE IS NO PROVISION FOR INCOME TAXES AT DECEMBER 31, 2023 AND 2022. THE COOPERATIVE'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 COOPERATIVE ARE SUBJECT TO EXAMINATION BY THE IRS, GENERALLY FOR THREE YEARS AFTER THEY WERE FILED. TAX FILINGS ARE CURRENT. FORM 990, SCHEDULE D, PART VI, LINE 1E, OTHER CONSTRUCTION IN PROGRESS $709,786 X X X 0 0 0 RYAN NELSON CEO 177504 0 0 0 0 0 33762 0 17214 0 228480 0 0 0 PATRICK KRUEGER CFO 136536 0 0 0 0 0 28226 0 17550 0 182312 0 0 0 TROY MEAD LINE FOREMAN 116169 0 0 0 0 0 15878 0 22070 0 154117 0 0 0 MICHAEL MARCUS JOURNEYMAN LINE TECH IN-CHARGE 113106 0 0 0 0 0 15231 0 22082 0 150419 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 MEMBERSHIP IS AFFECTED BY: 1) PROCURING SERVICE FROM THE COOPERATIVE OR 2) PROVIDING A CONTINUING PERIODIC OPERATING REVENUE STREAM FOR THE COOPERATIVE. CURRENTLY, THE COOPERATIVE HAS ONE CLASS OF MEMBERS, BUT HAS THE RIGHT TO DEFINE RIGHTS AND PRIVILEGES OF MULTIPLE CLASSES OF MEMBERSHIP, PER ITS BYLAWS. FORM 990, PART VI, SECTION A, LINE 7A THE COOPERATIVE'S MEMBERS VOTE ON REGIONAL REPRESENTATIVES TO THE GOVERNING BODY (BOARD). THE BOARD CONSISTS OF NINE MEMBERS THAT SERVE 3 YEAR TERMS ON A STAGGERED BASIS. FORM 990, PART VI, SECTION A, LINE 7B DECISIONS OF THE BOARD ARE NOT SUBJECT TO APPROVAL BY THE MEMBERSHIP. HOWEVER, THE COOPERATIVE'S MEMBERS ELECT THE BOARD OF DIRECTORS AND MEMBERS MAY PETITION TO REMOVE A BOARD MEMBER WITH 20% OF ELIGIBLE VOTERS SIGNING. AN ELECTION WOULD THEN BE HELD TO DETERMINE WHETHER THE DIRECTOR IS REMOVED OR RETAINED. FORM 990, PART VI, SECTION A, LINE 8B CONTEMPORANEOUS MINUTES ARE NOT TAKEN ON ALL COMMITTEE MEETINGS BECAUSE COMMITTEES ARE VIEWED ONLY AS ADVISORY TO THE FULL BOARD. ANY ACTIONS TAKEN WOULD BE DONE AT THE FULL BOARD LEVEL AND DOCUMENTED AS PART OF THE BOARD MEETING. FORM 990, PART VI, SECTION B, LINE 11B A DRAFT COPY OF THE 990 IS PRESENTED TO THE BOARD FOR REVIEW BEFORE FILING. FORM 990, PART VI, SECTION B, LINE 12C ALL BOARD MEMBERS WERE REQUIRED TO FILL OUT A CONFLICT OF INTEREST QUESTIONNAIRE IN REGARD TO THE CURRENT TAX YEAR. FORM 990, PART VI, SECTION B, LINE 15A THE BOARD OF DIRECTORS ANNUALLY REVIEWS AND SETS THE SALARY FOR THE CEO. THE NRECA COMPENSATION SURVEY AMONG OTHER DOCUMENTS IS USED FOR COMPARABILITY DATA. FORM 990, PART VI, SECTION C, LINE 19 COPIES OF POLICIES ARE AVAILABLE FOR REVIEW AT COOP OFFICES ON REQUEST WITH APPOINTMENTS PREARRANGED. 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: K-1 INCOME HEARTLAND SECURITY SERVICE -60,951. RETIREMENT OF PATRONAGE CAPITAL -1,187,703. ALLOCATED CAPITAL CREDITS 2,358,499. RETIRED CAPITAL CREDIT GAIN 73,367. BOOK INCOME HEARTLAND SECURITY SERVICE 98,239. KANDIYOHI POWER CHARITABLE TRUST 8605 47TH ST NE SPICER MN 56288 411953406 ACCUMULATE AND DISBURSE FUNDS FOR CHARITABLE PURPOSES MN 501(C)(3) PC 0 KPC HOLDINGS INC 8605 47TH ST NE SPICER MN 56288 205694500 HOLDING COMPANY MN N/A C 261038 870078 1.00000 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0