2024-10-10T14:01:45-05:00 2023-12-31 910189318 MOSS ADAMS LLP 601 W RIVERSIDE AVENUE STE 1800 SPOKANE WA 99201 990 2023-01-01 370696003 MID CENTURY TELEPHONE CO-OPERATIVE MIDC 3097788611 285 MID CENTURY LANE PO BOX 380 FAIRVIEW IL 61432 JAMES W BROEMMER JR CEO 3097788611 2024-10-08 1 1 EMINA O CRESSWELL CPA P01217304 5097472600 2023 2024-10-15 13:58:12Z JAMES W BROEMMER JR 285 MID CENTURY LANE PO BOX 380 FAIRVIEW IL 61432 13206738 0 X WWW.MIDCENTURY.COM X 1950 IL SALE OF COMMUNICATION SERVICES TO MEMBERS, CUSTOMERS AND COMMUNITIES. 7 7 48 0 0 0 0 0 10419408 10738818 1159676 1600669 912857 867251 12491941 13206738 0 4000 2943746 2271427 26825 33425 0 0 0 9521370 10163354 12491941 12472206 0 734532 77145409 77990906 48064976 45928128 29080433 32062778 X TO ENHANCE THE VALUE PROVIDED TO MEMBERS, CUSTOMERS AND OUR COMMUNITIES BY CREATIVELY AND INTENSELY SEARCHING FOR GROWTH OPPORTUNITIES WITHIN THE COMMUNICATIONS INDUSTRY, WHICH WILL ALLOW US TO PROVIDE COMPETITIVE COMMUNICATIONS SERVICES TO OUR MEMBERS, CUSTOMERS AND COMMUNITIES. 0 0 MID CENTURY TELEPHONE CO-OPERATIVE CONTINUES TO PROVIDE BASIC PHONE SERVICES AND HIGH SPEED INTERNET ACCESS, SPECIFICALLY FOCUSING ON SUPPLYING FIBER OPTIC INTERNET SERVICES TO THE HOMES AND BUSINESSES, IN ADDITION TO SUPPLYING OTHER VARIOUS COMMUNICATION SERVICES. 0 0 0 0 0 0 0 0 0 1 1 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 1 17 0 1 48 1 1 1 0 0 0 0 0 0 5797916 73194 0 0 0 X 7 7 0 1 1 0 1 1 1 1 1 0 0 1 1 1 1 1 1 0 0 0 X JAMES W BROEMMER JR 3097788611 285 MID CENTURY LANE PO BOX 380 FAIRVIEW IL 61432 MICHAEL GRAY PRESIDENT 4.00 X X 6525 0 0 SHEILA BLOUT DIRECTOR 1.50 X 7025 0 0 DONNA CECIL VICE PRESIDENT 1.50 X X 3775 0 0 RANDALL HELLYER TREASURER 1.50 X X 3775 0 0 TONYA PIKE SECRETARY 1.50 X X 3775 0 0 DANIEL ERICKSON DIRECTOR (THRU 9/23) 1.50 X 2525 0 0 RAY MCCAUSLAND DIRECTOR 1.50 X 5025 0 0 DANIEL LUNDEEN DIRECTOR 1.50 X 1000 0 0 JAMES BROEMMER CEO 32.00 X 0 0 0 AARON BUCK DIRECTOR OF OPERATIONS 40.00 X 106011 0 18195 139436 0 18195 1 0 0 0 SCHWANKE'S DIRECTIONAL DRILLING 5151 COUNTY ROAD 322 PALMYRA MO 63461 FTTH INSTALLATION 1875040 COMTECH SOLUTIONS PO BOX 43 GOLDEN IL 62339 EXECUTIVE SERVICES 290202 CENTRAL CABLE CONTRACTORS W7435 COUNTY RD AW WAUPUN WI 53963 FTTH INSTALLATION 155000 3 TELEPHONE SERVICES 517000 8027827 8027827 DSL REVENUE 517000 2710991 2710991 10738818 1600669 1600669 83535 0 83535 83535 83535 EQUITY IN AFFILIATES EARNINGS 900099 734532 734532 OTHER NON-OPERATING INCOME 900099 49184 49184 783716 13206738 10738818 0 2467920 4000 2271427 33425 2218015 3493716 MAINTENANCE EXPENSE 2379367 GENERAL & ADMINISTRATIV 823615 SALES & MARKETING 736615 TRAFFIC EXPENSE 300895 211131 12472206 3183106 2341630 2366 1037352 514001 513660 2963962 3060064 271710 287407 74717754 42946152 30830102 31771602 325257 376290 4672225 5406757 145301 109717 34237379 33086427 77145409 77990906 73731 1115445 307711 307711 240 1738 45910178 43494219 1773116 1009015 48064976 45928128 X 0 0 0 0 29080433 32062778 29080433 32062778 77145409 77990906 X 734532 2247813 X 0 1 X 1 0 119575 119575 5661883 2089655 3572228 68125070 40856497 27268573 811226 811226 31771602 INVESTMENT IN SUBSIDIARIES 5405757 C INVESTMENT - NONAFFILIATED COMPANY 1000 C 5406757 NOTE RECEIVABLE - AFFILIATES 32804260 RIGHT-TO-USE ASSET 160241 PREFUNDED PENSION DEPOSITS 121926 33086427 CUSTOMER DEPOSITS 14175 DUE TO AFFILIATES 834599 LEASE OBLIGATION 160241 1009015 X PART X, LINE 2: IN 2023 AND 2022, THE COOPERATIVE QUALIFIED AS A TAX-EXEMPT ENTITY BECAUSE MORE THAN 85% OF GROSS REVENUES WERE FROM COOPERATIVE MEMBERS. TAXES ARE COMPUTED ON INCOME UNRELATED TO THE COOPERATIVE'S EXEMPT PURPOSE. THE SUBSIDIARY CORPORATIONS ARE TAXABLE ENTITIES FOR FEDERAL AND STATE INCOME TAX PURPOSES. DEFERRED TAXES ARE APPLICABLE TO THE SUBSIDIARIES AND ARE PROVIDED ON A LIABILITY METHOD WHEREBY DEFERRED TAX LIABILITIES ARE RECOGNIZED FOR TAXABLE TEMPORARY DIFFERENCES, AND DEFERRED TAX ASSETS ARE RECOGNIZED FOR DEDUCTIBLE TEMPORARY DIFFERENCES. TEMPORARY DIFFERENCES ARE THE DIFFERENCES BETWEEN THE REPORTED AMOUNTS OF ASSETS AND LIABILITIES AND THEIR TAX BASIS. DEFERRED TAX ASSETS ARE REDUCED BY A VALUATION ALLOWANCE WHEN, IN THE OPINION OF MANAGEMENT, IT IS MORE LIKELY THAN NOT SOME PORTION OR ALL OF THE DEFERRED TAX WILL NOT BE REALIZED. DEFERRED TAX ASSETS AND LIABILITIES ARE ADJUSTED FOR THE EFFECTS OF CHANGES IN TAX LAWS AND RATES ON THE DATE OF ENACTMENT. THE COOPERATIVE RECORDS UNCERTAIN TAX POSITIONS IF THE LIKELIHOOD THE POSITION WILL BE SUSTAINED UPON EXAMINATION IS LESS THAN 50%. AS OF DECEMBER 31, 2023 AND 2022, THE COOPERATIVE HAD NO ACCRUED AMOUNTS RELATED TO UNCERTAIN TAX POSITIONS. INTEREST AND PENALTIES, IF ANY, ARE RECORDED AS INTEREST EXPENSE AND OTHER EXPENSE, RESPECTIVELY. FORM 990, PART VI, SECTION A, LINE 3 MID CENTURY TELEPHONE CO-OPERATIVE PAID COMTECH SOLUTIONS, LLC $290,202 FOR MANAGEMENT SERVICES DURING 2023. COMTECH PROVIDED THE OFFICER POSITION OF THE CEO, JAMES BROEMMER. A PORTION OF THE SALARIES PAID BY COMTECH TO JAMES IS FOR THE SERVICES PROVIDED TO MID CENTURY TELEPHONE CO-OPERATIVE. THE EXACT AMOUNT OF THE COMPENSATION PAID FOR SERVICES RENDERED TO MID CENTURY TELEPHONE CO-OPERATIVE IS INDETERMINABLE, AS HE ALSO PROVIDED SERVICES TO OTHER ORGANIZATIONS FOR COMTECH. FORM 990, PART VI, SECTION A, LINE 4 THERE WERE MULTIPLE CHANGES MADE TO THE BYLAWS IN SEPTEMBER 2023: 1. MEMBERS ARE REQUIRED TO BE 18 YEARS OF AGE OR OLDER. 2. EACH MEMBER SHALL, AS SOON AS SERVICE IS AVAILABLE, TAKE AT LEAST ONE FORM OF ELIGIBLE COMMUNICATION SERVICES FROM THE COOPERATIVE TO BE USED AT A PRECISE WITHIN THE COOPERATIVE'S ESTABLISHED SERVICE AREA. 3. THERE IS NO CLASSES OF MEMBERS IN THE COOPERATIVE. 4. THE BOARD IS MANAGERS BY 7 DIRECTORS THAT SERVE FOR THREE YEAR TERMS. DIRECTORS SHALL BE ELECTED WITH DUE REGARD TO THE GEOGRAPHICAL REPRESENTATION OF EACH AREA SERVED BY THE COOPERATIVE, BY HAVING ONE (1) DIRECTOR FROM EACH DISTRICT. 5. COMMITTEES CAN BE APPOINTED BY THE BOARD WITHOUT BYLAW PROVISIONS. 6. EMPLOYEE COMPENSATION SHALL BE BASED UPON RECOMMENDATION OF THE CEO. 7. THE COOPERATIVE MAY NOT SELL, LEASE, OR OTHERWISE DISPOSE OF OR ENCUMBER ALL OR ANY SUBSTANTIAL PORTIONS, IN EXCESS OF 10%, OF ITS TOTAL ASSETS UNLESS AUTHORIZED. FORM 990, PART VI, SECTION A, LINE 6 ANY PERSON WHO IS EIGHTEEN (18) YEARS OF AGE OR OLDER, ASSOCIATION, LIMITED LIABILITY COMPANY, LIMITED LIABILITY PARTNERSHIP, CORPORATION, TRUST, OR BODY POLITIC OR SUBDIVISION THEREOF MAY BECOME A MEMBER OF MID CENTURY TELEPHONE COOPERATIVE (HEREINAFTER CALLED THE COOPERATIVE) UPON RECEIPT OF COMMUNICATION SERVICES FROM THE COOPERATIVE, AT A PRECISE WITHIN ITS ESTABLISHED SERVICE AREA, PROVIDED THAT THEY OR IT HAS FIRST: A) MADE A WRITTEN APPLICATION FOR MEMBERSHIP WITHIN: B) AGREED TO PURCHASE COMMUNICATION SERVICES FROM THE COOPERATIVE IN ACCORDANCE WITH ESTABLISHED ASSESSMENTS AND AS HEREINAFTER SPECIFIED; C) AGREED TO COMPLY WITH AND BE BOUND BY THE ARTICLES OF INCORPORATION AND BYLAWS OF THE COOPERATIVE AND ANY RULES AND REGULATIONS ADOPTED BY THE BOARD OF DIRECTORS (HEREINAFTER CALLED THE "BOARD"); AND D) PAID IN SECURITY DEPOSITS AND SERVICE CONNECTION FEES AS REQUIRED BY COOPERATIVE POLICIES. FORM 990, PART VI, SECTION A, LINE 7A THE COOPERATIVE HAS MEMBERS WHICH ELECT THE BOARD OF DIRECTORS AT THE ANNUAL MEETING, OR AT A SPECIAL MEETING HELD FOR THAT PURPOSE WITHIN A REASONABLE TIME THEREAFTER. FORM 990, PART VI, SECTION A, LINE 7B PER THE BY-LAWS OF THE COOPERATIVE THERE ARE CERTAIN TRANSACTIONS WHICH MANY REQUIRE A MEMBER VOTE. FORM 990, PART VI, SECTION B, LINE 11B AN INDEPENDENT ACCOUNTING FIRM PREPARES THE 990. THE 990 IS THEN REVIEWED BY THE MANAGEMENT OF THE ORGANIZATION. ANY QUESTIONS OR CONCERNS MANAGEMENT HAS ADDRESSED, AND ANY CORRECTIONS OR CLARIFICATIONS ARE MADE. THE FINAL 990 IS PROVIDED TO THE BOARD PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE COOPERATIVE HAS A CONFLICT OF INTEREST POLICY WHICH REQUIRES ANNUAL DISCLOSURE OF POTENTIAL CONFLICTS. POTENTIAL CONFLICTS ARE ADDRESSED AT BOTH THE BOARD AND MANAGEMENT LEVELS. BOARD MEMBERS WITH A POTENTIAL CONFLICT OF INTEREST ARE EXCLUDED FROM VOTING ON THAT MATTER. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: PATRONAGE ALLOCATED TO MEMBERS 2,271,427. PATRONAGE CREDITS PAID -23,614. FORM 990, PART IX, LINE 4: THE INSTRUCTIONS TO THE FORM 990 INDICATE THAT ORGANIZATIONS EXEMPT UNDER SECTION 501(C)(12) SHOULD REPORT PATRONAGE DIVIDENDS PAID TO THEIR MEMBERS IN PART IX, LINE 4 OF THE FORM 990. MID CENTURY TELEPHONE CO-OPERATIVE HAS INTERPRETED THE WORDS "PATRONAGE DIVIDENDS PAID" IN THE INSTRUCTIONS TO MEAN MARGINS THAT ARE ASSIGNED OR ASSIGNABLE TO THE MEMBERS. MID CENTURY TELEPHONE CO-OPERATIVE ASSIGNS THE NET OPERATING MARGINS TO ITS MEMBERS EACH YEAR. THEREFORE, THE AMOUNT LISTED IN PART IX, LINE 4 REPRESENTS THE NET OPERATING MARGINS ASSIGNABLE TO THE MEMBERS FOR THE CALENDAR YEAR ENDED DECEMBER 31, 2023. 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