2024-10-18T15:49:00-05:00 2023-12-31 910189318 MOSS ADAMS LLP 601 W RIVERSIDE AVENUE STE 1800 SPOKANE WA 99201 990 2023-01-01 383386126 MIDWEST ENERGY COOPERATIVE MIDW 2694451000 60590 DECATUR ROAD CASSOPOLIS MI 49031 TODD R CRANDALL CFO 2694451028 2024-10-17 1 0 EMINA O CRESSWELL CPA P01217304 5097472600 2024-10-17 2023 2024-10-15 13:58:12Z MIDWEST ENERGY COMMUNICATIONS ROBERT HANCE 60590 DECATUR ROAD CASSOPOLIS MI 49031 146825255 0 X WWW.TEAMMIDWEST.COM X 1998 MI PROVIDE ELECTRIC POWER TO MEMBERS 9 9 185 0 -12099 8872 0 0 125251042 130238820 290673 258722 8833347 16115899 134375062 146613441 8000 8269 17904631 26494914 3031710 3626474 0 0 0 112367269 115018278 133311610 145147935 1063452 1465506 400689871 480967655 293301555 345509162 107388316 135458493 PROVIDE ELECTRIC POWER TO MEMBERS 0 0 PROVIDE ELECTRIC POWER TO OVER 36,951 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 1 0 1 149 0 1 185 1 1 1 0 0 0 0 116337020 6558957 0 0 0 X 9 9 1 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 0 0 MI X TODD R CRANDALL 2694451028 60590 DECATUR ROAD CASSOPOLIS MI 49031 CLARENCE BARTH CHAIRMAN 2.80 X X 21150 0 8 GERRY BUNDLE DIRECTOR 4.10 X 27800 0 13 JAMES WISELY DIRECTOR 4.80 X 20200 0 13 DANIEL BODETTE DIRECTOR 3.60 X 18700 0 13 FRED TURK DIRECTOR 2.50 X 15200 0 13 JOHN GREEN TREASURER 2.00 X X 11200 0 13 ERIKA ESCUE-CADIEUX DIRECTOR 2.90 X 11200 0 13 BEN RUSSELL VICE CHAIRMAN 1.70 X X 10200 0 8 RONALD ARMSTRONG SECRETARY 1.80 X X 10200 0 13 ROBERT HANCE CEO/PRESIDENT 65.00 5.00 X 510076 0 72091 TERRY RUBENTHALER CTO 50.00 X 358272 0 31663 DWAIN CHAPMAN CHIEF STRATEGIC & CYBER SECURITY 50.00 X 295783 0 33197 TODD CRANDALL CFO 55.00 5.00 X 274471 0 33808 CHAD RITCHIE VP ELECTRIC & FIBER OPERATIONS 50.00 X 235401 0 30093 CANDY RIEM VP MARKETING & MEMBER SERVICES 50.00 X 223515 0 30229 KERRI WADE VP EMPLOYEE ENGAGEMENT 50.00 X 213145 0 24469 STEPHEN HUNSBERGER LINEMAN 51.40 X 187036 0 127352 JAMES HAAS VP REGULATORY & GAS OPERATIONS 50.80 X 178655 0 96092 KURT SCHANTZ LINEMAN 50.20 X 177196 0 89726 DAVID ALLEN VP REGULATORY & GAS OPERATIONS 50.00 X 183232 0 25040 PATRICK HARDING LINEMAN 50.80 X 182565 0 7242 3165197 0 601109 50 0 1 0 UTILITY CONTRACTING CO LLC PO BOX 46 SPARTA MI 49345 CONTRACTOR - CONSTRUCTION 20555119 WESTERN TEL-COM INC PO BOX 1317 A-4273 BLUE STAR HWY HOLLAND MI 49422 CONTRACTOR - CONSTRUCTION 12487738 CC POWER PO BOX 2028 KALKASKA MI 49646 CONTRACTOR - CONSTRUCTION 4740668 EARTHCOM INC 3424 CORWIN ROAD WILLIAMSTON MI 48895 CONTRACTOR - CONSTRUCTION 3500438 SIGMA TECHNOLOGIES LTD 27096 OAKMEAD DRIVE PERRYSBURG OH 43551 CONTRACTOR - CONSTRUCTION 3496446 24 ELECTRIC REVENUE FROM MEMBERS 221000 130080194 130080194 POLE CONTACT FEES 221000 158626 158626 130238820 297919 297919 352104 121348 230756 230756 -12099 242855 19127 58324 -39197 -39197 -39197 38499 32142 6357 6357 PAY APPLICATION 221000 5080819 5080819 CAPITAL CREDITS 221000 3971541 3971541 RDOF FUNDING 221000 3699608 3699608 3126818 3126818 15878786 146613441 145965337 -12099 660203 8269 26494914 2578665 60027 832563 155219 104114 120870 7530801 14788601 COST OF POWER 48383538 DISTRIBUTIONS- MAINTENA 17985692 ADMINISTRATION & GENERA 14852012 TAXES- PROPERTY 5761136 5491514 145147935 19871856 7266359 13888085 14357898 1632658 1677068 11231158 13371723 4942101 3868865 497474380 112294964 298580894 385179416 3065476 3499837 47477643 51746489 400689871 480967655 20332323 27650714 52000 43000 262710900 305952591 10206332 11862857 293301555 345509162 X 0 0 0 0 107388316 135458493 107388316 135458493 400689871 480967655 X 1465506 26604671 X 0 1 X 1 0 5938914 5938914 91958487 18221772 73736715 8167611 2169029 5998582 391409368 91904163 299505205 385179416 PATRONAGE CAPITAL - WVPA 6025676 C MIDWEST ENERGY, INC. 13719531 C WOLVERINE POWER SUPPLY COOPERATIVE 29176270 C CAPITAL TERM CERTIFICATES 1199971 C PATRONAGE CAPITAL - BUCKEYE POWER 1185028 C PATRONAGE CAPITAL - CFC 440013 C 51746489 POST RETIREMENT BENEFITS OTHER THAN PENSIONS 2537263 ACCRUED PENSION LIABILITY 200398 NOTES PAYABLE TO SUBSIDIARY 8219548 CUSTOMER DEPOSITS 905648 11862857 X PART X, LINE 2: THE COOPERATIVE IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES UNDER SECTION 501(C)(12) OF THE INTERNAL REVENUE CODE. THE COOPERATIVE ADOPTED FINANCIAL ACCOUNTING STANDARDS BOARD (FASB) ACCOUNTING STANDARDS CODIFICATION (ASC) 740-10, RELATING TO ACCOUNTING FOR UNCERTAIN TAX POSITIONS. AS OF DECEMBER 31, 2023 AND 2022, THE COOPERATIVE DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS. THE COOPERATIVE FILES AN EXEMPT ORGANIZATION TAX RETURN IN THE U.S. FEDERAL JURISDICTION AND THE STATE OF MICHIGAN. X X 0 0 0 ROBERT HANCE CEO/PRESIDENT 510076 0 0 0 0 0 57639 0 14452 0 582167 0 0 0 TERRY RUBENTHALER CTO 358272 0 0 0 0 0 8695 0 22968 0 389935 0 0 0 DWAIN CHAPMAN CHIEF STRATEGIC & CYBER SECURITY 295783 0 0 0 0 0 8873 0 24324 0 328980 0 0 0 STEPHEN HUNSBERGER LINEMAN 187036 0 0 0 0 0 105184 0 22168 0 314388 0 0 0 TODD CRANDALL CFO 274471 0 0 0 0 0 8419 0 25389 0 308279 0 0 0 JAMES HAAS VP REGULATORY & GAS OPERATIONS 178655 0 0 0 0 0 77583 0 18509 0 274747 0 0 0 KURT SCHANTZ LINEMAN 177196 0 0 0 0 0 67558 0 22168 0 266922 0 0 0 CHAD RITCHIE VP ELECTRIC & FIBER OPERATIONS 235401 0 0 0 0 0 5807 0 24286 0 265494 0 0 0 CANDY RIEM VP MARKETING & MEMBER SERVICES 223515 0 0 0 0 0 5875 0 24354 0 253744 0 0 0 KERRI WADE VP EMPLOYEE ENGAGEMENT 213145 0 0 0 0 0 5635 0 18834 0 237614 0 0 0 DAVID ALLEN VP REGULATORY & GAS OPERATIONS 183232 0 0 0 0 0 5716 0 19324 0 208272 0 0 0 PATRICK HARDING LINEMAN 182565 0 0 0 0 0 5462 0 1780 0 189807 0 0 0 FORM 990, PART VI, SECTION A, LINE 2 ROBERT HANCE AND GERRY BUNDLE SERVED ON THE BOARD OF ANOTHER TAX EXEMPT ORGANIZATION WITH WHICH MIDWEST ENERGY COOPERATIVE DOES BUSINESS WITH. FORM 990, PART VI, SECTION A, LINE 6 MEMBERS ELECT THE BOARD OF DIRECTORS BY REGION. FORM 990, PART VI, SECTION A, LINE 7A THE ORGANIZATION IS A COOPERATIVE FORMED TO PROVIDE UTILITY SERVICE TO ITS MEMBERS. THE MEMBERS ELECT THE GOVERNING BODY AND APPROVE CHANGES IN THE BY-LAWS. MEMBERS ARE ENTITLED TO ONE VOTE UPON EACH MATTER SUBMITTED TO A VOTE OF THE MEMBERS. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED BY THE CFO, AND IS THEN PRESENTED TO THE BOARD OF DIRECTORS FOR APPROVAL. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD OF DIRECTORS, PRESIDENT & CEO, AND GENERAL COUNSEL ARE RESPONSIBLE FOR ENSURING COMPLIANCE WITH THIS POLICY. IF THE BOARD OR COMMITTEE HAS REASONABLE CAUSE TO BELIEVE THAT A MEMBER HAS FAILED TO DISCLOSE ACTUAL OR POSSIBLE CONFLICTS OF INTEREST, IT SHALL INFORM THE MEMBER OF THE BASIS FOR SUCH BELIEF AND AFFORD THE MEMBER AN OPPORTUNITY TO EXPLAIN THE ALLEGED FAILURE TO DISCLOSE. IF, AFTER HEARING THE RESPONSE OF THE MEMBER AND MAKING SUCH FURTHER INVESTIGATION AS MAY BE WARRANTED IN THE CIRCUMSTANCES, THE BOARD OR COMMITTEE DETERMINES THAT THE MEMBER HAS IN FACT FAILED TO DISCLOSE AN ACTUAL OR POSSIBLE CONFLICT OF INTEREST, IT SHALL TAKE APPROPRIATE DISCIPLINARY OR CORRECTIVE ACTION. FORM 990, PART VI, SECTION B, LINE 15A AMOUNT OF CEO COMPENSATION IS DETERMINED BY BOARD POLICY NUMBER B-04. THE AMOUNT OF COMPENSATION IS CALCULATED USING COMPARABLE DATA, BOTH INDUSTRY AND NON-INDUSTRY SPECIFIC. THE COMPENSATION COMMITTEE REVIEWS AND APPROVES THE DATA ANNUALLY. THE MOST RECENT REVIEW OCCURRED IN MAY 2024. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS ARE MADE AVAILABLE ON THE COOPERATIVE WEBSITE, THE CONFLICT OF INTEREST POLICY IS AVAILABLE UPON REQUEST, AND THE FINANCIAL STATEMENTS ARE PUBLISHED IN COUNTRY LINES MAGAZINE. FORM 990, PART XI, LINE 9: UNREALIZED GAIN (LOSS) ON PENSION AND POST-RETIREMENT BENEFITS OTHER THAN PENSIONS 212,345. RETIREMENT OF CAPITAL CREDITS -1,094,848. OTHER EQUITY ADDITIONS 992,260. AMOUNT OF BENEFITS PAID TO MEMBERS PER 990 INSTRUCTIONS, INTERPRETED TO EQUAL NET MARGINS AS THAT IS THE EQUIVALENT OF THE BENEFITS MEMBERS RECEIVE IN THE CURRENT YEAR 26,494,914. MIDWEST ENERGY INC 60590 DECATUR RD CASSOPOLIS MI 49031 383401193 PROPANE MI MIDWEST ENERGY COOPERATIVE C 1465506 18068442 1.00000 1 1 0 0 0 1 0 0 0 0 0 0 0 0 1 1 0 0 0 0 MIDWEST ENERGY INC A 50220 FAIR MARKET VALUE MIDWEST ENERGY INC E 8219548 FAIR MARKET VALUE MIDWEST ENERGY INC O 535558 FAIR MARKET VALUE