2024-11-15T14:37:10+00:00 2023-12-31 350921680 CROWE LLP 225 West Wacker Drive Suite 2600 Chicago IL 606061224 990 2023-01-01 381326766 Wolverine Power Supply Cooperative Inc WOLV 2317757500 10125 W Watergate Road Cadillac MI 49601 Eric D Baker President & CEO 2317755700 2024-11-15 true Jennifer Burke P01342224 3128997000 2024-11-15 2023 2024-10-15 13:58:12Z Eric D Baker 10125 W Watergate Road Cadillac MI 49601 540935804 false X wolverinepowercooperative.com X 1983 MI TO PROVIDE OUTSTANDING SERVICE TO OUR MEMBERS BY DELIVERING RELIABLE, COMPETITIVE POWER SUPPLY. 14 14 192 0 117331158 0 0 0 704044619 537141609 1076245 1587969 1467946 1275233 706588810 540004811 119788 68099 19984205 17656370 28653325 30736199 0 0 0 656014764 491544143 704772082 540004811 1816728 0 1046991533 1074978996 814781997 825811944 232209536 249167052 WOLVERINE POWER SUPPLY COOPERATIVE, INC. IS A MICHIGAN NONPROFIT COOPERATIVE CORPORATION ORGANIZED FOR THE PURPOSE OF PROVIDING OUTSTANDING SERVICE TO ITS MEMBERS BY DELIVERING A RELIABLE, COMPETITIVE ELECTRIC POWER SUPPLY. false false WOLVERINE PROUDLY DELIVERS 60% CARBON-FREE, RELIABLE, COMPETITIVE POWER REACHING MORE THAN 268,000 RURAL HOMES AND BUSINESSES ACCROSS OVER HALF OF MICHIGAN'S LOWER PENINSULA. WOLVERINE CHAMPIONS INNOVATIVE, LONG-TERM ENERGY SOLUTIONS BY CRAFTING A RELIABLE, CLEAN, AND AFFORDABLE ENERGY FUTURE THROUGH STRATEGIC POWER SUPPLY AND THE DEVELOPMENT OF A FLEXIBLE TRANSMISSION SYSTEM. 0 false false false false true false false false true false false false true true false true false false false false false false false false false true false true false false false false true false false false false false false true true true false true 128 0 true 192 true true true false false false false 62894669 -25978328 false false false X 14 14 false false false false true true true true true false false true true true true true true true true true false X Ron McCullick 2317755700 10125 W Watergate Road Cadillac MI 49601 Gerry Bundle DIRECTOR / CHAIR (April - Dec)/ VICE CHAIR (Jan - April) 6.0 0.2 X X 28200 0 0 Melinda Lautner DIRECTOR / VICE-CHAIR (April -Dec) 6.0 0.1 X X 12000 0 12000 Paul Byl DIRECTOR / SECRETARY 5.0 0.2 X X 20400 500 3600 Shirley Sprague DIRECTOR / TREASURER 5.4 0 X X 27700 0 0 Terry Lautner DIRECTOR / CHAIRMAN (Jan - April) 8.0 0.4 X X 27400 500 0 Allan Berg DIRECTOR 4.0 0 X 0 0 25000 Chad Stirrett DIRECTOR (JAN - AUG.) 6.0 0 X 500 0 15000 Clarance Barth DIRECTOR 6.0 0 X 23000 0 0 John Brown DIRECTOR 6.0 0 X 26000 0 0 John Lord DIRECTOR (AUG - DEC) 3.0 0 X 9500 0 0 Kimber Hansen DIRECTOR (JAN - AUG) 7.5 0 X 15500 0 0 Mark Carson DIRECTOR 6.0 0 X 24000 0 0 Rence Meredith DIRECTOR (SEPT - DEC) 5.0 0 X 3250 0 3250 Ric Evans DIRECTOR 4.0 0 X 26000 0 0 Rob Hunter DIRECTOR (compensation paid to charity) 4.5 0 X 0 0 0 Tom Van Pelt DIRECTOR 6.0 0 X 13250 0 13250 Eric Baker PRESIDENT & CEO 50.0 1.0 X 916244 0 290553 Kacy Wickenhauser CHIEF HUMAN RESOURCE OFFICER 50.0 0 X 283524 0 132737 Joseph Baumann CHIEF LEGAL OFFICER 50.0 0.1 X 368398 0 131125 Zachary J Anderson CHIEF OPERATING OFFICER 50.0 0.5 X 364474 0 147052 Craig Borr EXECUTIVE VICE PRESIDENT 48.0 4.0 X 452361 0 298310 Daniel H DeCoeur VICE PRESIDENT 28.4 0 X 213116 0 124647 Daniel J Calverley VP GENERATION & OPERATIONS` 50.0 0 X 245834 0 249374 Dawn Coon VP ADMINISTRATION 50.0 0 X 209831 0 161754 Dustan Daniel VP of Accounting and Finance 48.0 0 X 224918 0 40886 3535400 1000 1648538 97 false true false HYDECKER WHEATLAKE CO 420 ROTH ST REED CITY MI 49677 CONSTRUCTION SERVICES 33879255 PETE'S CONTRACTING INC 5791 S MCVETY RD FALMOUTH MI 49632 CONSTRUCTION SERVICES 2708698 TOWNSEND TREE SERVICES 1015 W Jackson Street Muncie IN 47305 VEGETATION MANAGEMENT 1496743 GENERAL ELECTRIC INTL 500 W MONROE ST CHICAGO IL 60661 REPAIR AND MAINTENANCE 1490179 MICHIGAN ELECTRIC TRANSMISSION COMPANY 27175 Energy Way Novi MI 48377 TRANSMISSION OF ELECTRICITY 996530 43 0 0 0 0 0 0 0 0 Sale of Electricity for Resale 221000 473385890 356636551 116749339 0 Transmission for Others 221000 63621484 63565495 55989 0 Program Services Rental Income 531190 134235 9548 124687 0 0 0 0 0 0 0 0 0 0 0 0 0 537141609 2509962 1068758 0 1441204 0 0 0 0 567 0 0 567 0 0 0 0 0 0 0 0 0 0 0 9000 0 930993 0 -921993 -921993 0 0 -921993 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Management Services Agreements 561000 1077185 676077 401108 0 Life Insurance Death Benefit 900099 118095 118095 0 0 Regional Cost Sharing 900099 38976 38976 0 0 40410 9427 35 30948 1274666 540004811 422122927 117331158 550726 68099 0 0 17656370 2985908 0 19145937 3814880 3261282 1528192 0 1170681 142755 0 0 0 2510037 814570 564422 1603474 0 977897 940453 0 1402041 27707166 165228 36429815 394798 Purchased Power 352353388 Fuel 32204725 Operations and Maintenance 31179760 Administration and General 982933 0 540004811 0 0 46845897 25803740 57153212 49403700 0 0 0 0 26606802 38368800 5189005 4693347 1279517485 365475154 854355880 914042331 0 39244291 33114150 6836005 6685132 10760441 2867796 1046991533 1074978996 64761331 65946384 0 0 746921012 715851886 40000000 3099654 4013674 814781997 825811944 X 0 0 2000 2000 232207536 249165052 232209536 249167052 1046991533 1074978996 X 0 0 0 0 0 16957516 X false true X true false X 3 7.35 0 0 0 1 false 1.0 0 27353763 27353763 61146106 18211119 42934987 1135222609 342528263 792694346 55795007 4735772 51059235 914042331 PROVISION FOR POST-RETIREMENT 2567671 MICHIGAN JOINT ZONE RETURN ON 853321 ACCUMULATED PROVISION 457B 592682 4013674 X Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote Wolverine and Peninsula are not-for-profit corporations exempt from income tax under Section 501(c)(12) of the federal Internal Revenue Code. Activities with non-member customers are subject to federal income taxes. Wolverine and Peninsula had no federal income tax liability as of December 31, 2023 or 2022. Spartan accounts for income taxes using the liability method whereby, deferred tax assets and liabilities are computed for differences between the financial reporting and tax basis of assets and liabilities that will result in taxable or deductible amounts in the future. Such deferred income tax asset and liability computations are based on enacted tax laws and rates applicable to periods in which the differences are expected to affect taxable income. Valuation allowances are established when necessary to reduce deferred tax assets to the amounts expected to be realized. Income tax expense is the tax payable or refundable for the period, plus or minus the change during the period in deferred tax assets and liabilities. Uncertain tax positions are recognized and measured under provisions in FASB ASC 740. Under these provisions, a tax position is recognized as a benefit only if it is "more likely than not" that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the "more likely than not" test, no tax benefit is recorded. Spartan is subject to U.S. federal income tax. Wolverine and both of its subsidiaries are subject to the Michigan Corporate Income Tax. However, for cooperatives (Wolverine and Peninsula, but not Spartan), only activities with non-member customers are subject to the tax. Wolverine files a unified return. With a few exceptions, Wolverine is no longer subject to examination by taxing authorities for years before 2019. Wolverine does not expect the total amount of unrecognized tax benefits to significantly change in the next 12 months. Wolverine recognizes interest and/or penalties related to income tax matters in interest and income tax expense, respectively. Wolverine did not have any amounts accrued for interest and penalties at December 31, 2023 or 2022. true LINEMAN-ELECTRICAL JOINT APPRENTICESHIP AND TRAINING TRUST 10125 W Watergate Rd Cadillac MI 49601 826911460 501(C)3 15000 GENERAL SUPPORT 1 0 Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds. WOLVERINE CONTRIBUTES FUNDS IN GENERAL SUPPORT OF THE LINEMAN-ELECTRICAL JOINT APPRENTICESHIP TRAINING TRUST FUND (TRUST). WOLVERINE HAS ACCESS TO THE TRUST'S FINANCIAL STATEMENTS AND BOOKS, AND CAN THEREFORE, INDIRECTLY SEE HOW THE TRUST HAS SPENT ITS FUNDS. X X true true X X false true false Eric Baker PRESIDENT & CEO 545173 0 370000 0 1071 0 249219 0 41334 0 1206797 0 0 0 Kacy Wickenhauser CHIEF HUMAN RESOURCE OFFICER 233234 0 50000 0 290 0 100180 0 32557 0 416261 0 0 0 Zachary J Anderson CHIEF OPERATING OFFICER 314258 0 50000 0 216 0 112482 0 34570 0 511526 0 0 0 Joseph Baumann CHIEF LEGAL OFFICER 318158 0 50000 0 240 0 112796 0 18329 0 499523 0 0 0 Craig Borr EXECUTIVE VICE PRESIDENT 407177 0 40000 0 5184 0 260406 0 37904 0 750671 0 0 0 Daniel J Calverley VP GENERATION & OPERATIONS` 244250 0 0 0 1584 0 219528 0 29846 0 495208 0 0 0 Dawn Coon VP ADMINISTRATION 208799 0 0 0 1032 0 132789 0 28965 0 371585 0 0 0 Daniel H DeCoeur VICE PRESIDENT 212084 0 0 0 1032 0 95611 0 29036 0 337763 0 0 0 Dustan Daniel VP of Accounting and Finance 224461 0 0 0 457 0 12556 0 28330 0 265804 0 0 0 Schedule J, Part I, Line 1a Tax indemnification and gross-up payments A FEW OF THE INDIVIDUALS LISTED RECEIVED DE MINIMUS TAX GROSS UPS TO COVER THE TAX EFFECT OF TOKEN AWARDS EARNED BY PARTICIPATING IN COMPANY-WIDE SAFETY AND/OR OTHER INCENTIVE PROGRAMS. Schedule J, Part I, Line 1a Health or social club dues or initiation fees THE COMPANY REIMBURSES A SET DOLLAR AMOUNT TOWARD HEALTH CLUB DUES (USUALLY THE LOCAL YMCA) FOR ALL EMPLOYEES. Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan ERIC BAKER, THE PRESIDENT / CEO AND CRAIG BORR, EXECUTIVE VP PARTICIPATE IN A NON-QUALIFIED DEFERRED COMPENSATION PLAN. NO AMOUNTS WERE VESTED OR PAID OUT UNDER THE PLAN IN 2023. ANDREW ANDERSON BROTHER OF ZACH ANDERSON, OFFICER OF ORGANIZATION 127471 Employment false Schedule L, Part IV BUSINESS TRANSACTIONS INVOLVING INTERESTED PERSONS (A) NAME OF PERSON: ANDREW ANDERSON (B) RELATIONSHIP BETWEEN INTERESTED PERSON AND ORGANIZATION: BROTHER OF ZACH ANDERSON, CHIEF OPERATING OFFICER (D) DESCRIPTION OF TRANSACTION: DURING 2023, ANDREW ANDERSON WAS EMPLOYED AS COMPLIANCE COORDINATOR / SENIOR TRANSMISSION SYSTEM OPERATOR. HE IS A FAMILY MEMEBER OF THE COO. HIS EMPLOYEMENT FOLLOWS WOLVERINE'S ESTABLISHED RECRUITING, HIRING, AND COMPENSATION POLICIES AND HIS COMPENSATION IS AT MARKET LEVEL. Form 990, Part VI, Line 6 Classes of members or stockholders WOLVERINE IS A COOPERATIVE AND AS SUCH, IT HAS MEMBERS THAT OWN IT. Form 990, Part VI, Line 7a Members or stockholders electing members of governing body THE BOARD OF EACH OF WOLVERINE'S MEMBERS APPOINTS TWO OF THEIR DIRECTORS TO SERVE ON WOLVERINE'S BOARD. Form 990, Part VI, Line 7b Decisions requiring approval by members or stockholders WOLVERINE'S BOARD OF DIRECTORS ARE EMPOWERED TO MAKE MOST BUSINESS DECISIONS. HOWEVER, SOME KEY DECISIONS MUST BE MADE BY WOLVERINE'S MEMBERS, SUCH AS THE FOLLOWING (1) AMENDMENTS TO THE ARTICLES OF INCORPORATION, (2) AMENDMENTS OR REPEAL OF ANY BYLAW OR AMENDMENT THERETO ADOPTED BY THE MEMBERS FIXING THE FOLLOWING: REQUIREMENTS OF CLASSIFICATIONS OF MEMBERSHIP, THE QUALIFICATION, CLASSIFICATION OR TERMS OF OFFICE OF DIRECTORS; DIRECTOR QUORUM REQUIREMENTS FOR MEMBERS DIRECTORS' MEETINGS; AND THE METHOD OR PROCEDURE FOR AMENDING THE BYLAWS OR AFFECTING THE BYLAW ON INTERESTS IN PROPERTY, AND (3) REVIEW AND APPROVE ANY OTHER AMENDMENTS OR REPEALS TO THE BYLAWS THAT THE BOARD PASSED BY A TWO THIRDS VOTE OF THE FULL BOARD OF DIRECTORS. Form 990, Part VI, Line 11b Review of form 990 by governing body PRIOR TO FILING THE FORM 990 THE FOLLOWING REVIEWS TOOK PLACE: THE CFO AND CONTROLLER REVIEWED THE FORM 990 IN DETAIL AS DOES THEIR OUTSIDE ACCOUNTING FIRM. THE CEO REVIEWED THE GENERAL CONTENT OF THE FORM 990. THEN, THE AUDIT COMMITTEE REVIEWED THE FORM 990. THE 990 IS ALSO DISTRIBUTED TO EACH BOARD MEMBER FOR THEIR REVIEW. Form 990, Part VI, Line 12c Conflict of interest policy A conflict-of-interest statement is reviewed annually. All directors, officers, and key employees complete an annual questionnaire. The Board would be notified of any potential conflicts that arose. The Board would determine if a conflict did exist and how to proceed. The person involved in the potential conflict would be recused from voting on the matter. Form 990, Part VI, Line 15a Process to establish compensation of top management official THE BOARD REVIEWS AND APPROVES THE CEO'S COMPENSATION ON AN ANNUAL BASIS UTILIZING AN INDEPENDENT CONSULTANT'S INFORMATION AND NATIONAL BENCHMARKING, INCLUDING DATA FROM A VARIETY OF NATIONAL COMPENSATION SURVEYS INCLUDING GENERATION AND TRANSMISSION COOPERATIVES. THE MOST RECENT YEAR THIS PROCESS WAS UNDERTAKEN WAS 2023. Form 990, Part VI, Line 15b Process to establish compensation of other employees SALARIES FOR ALL NON-UNION EMPLOYEES ARE DETERMINED ON AN ANNUAL BASIS FOLLOWING A FORMAL EMPLOYEE EVALUATION. SALARY RANGES ARE REVIEWED EVERY YEAR TO ENSURE INTERNAL PAY EQUITY AND EXTERNAL COMPETITIVENESS. COMPENSATION SURVEYS ARE OBTAINED EVERY OTHER YEAR AND UTILIZED IN DETERMINING SALARY RANGES FOR NON-UNION EMPLOYEES. THE MOST RECENT YEAR THIS PROCESS WAS UNDERTAKEN WAS 2023. Form 990, Part VI, Line 19 Required documents available to the public THE FORM 990 IS AVAILABLE UPON REQUEST. THE ORGANIZATION DOES NOT MAKE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, OR FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC. Form 990, Part VII, Section A, Line 1a OTHER Compensation THE EXECUTIVE VICE PRESIDENT'S COMPENSATION REPORTED IN PART VII, IS FOR A FULL-TIME POSITION, HOWEVER THE MAJORITY OF HIS TIME IS DEVOTED TO AN UNRELATED ORGANIZATION, MECA, AND TO A RELATED ORGANIZATION, SPARTAN RENEWABLE ENERGY, INC. UNDER MANAGEMENT SERVICE AGREEMENTS. THE VICE PRESIDENT'S COMPENSATION REPORTED IN PART VII, IS FOR A FULL-TIME POSITION, HOWEVER THE MAJORITY OF HIS TIME IS DEVOTED TO AN UNRELATED ORGANIZATION, WOLVERINE POWER MARKETING COOPERATIVE, INC. UNDER A MANAGEMENT SERVICES AGREEMENT. Form 990, Part VIII, Line 11d Other Miscellaneous Revenue - Total Revenue: 40410, Related or Exempt Function Revenue: 9427, Unrelated Business Revenue: 35, Revenue Excluded from Tax Under Sections 512, 513, or 514: 30948; Form 990, Part XI, Line 9 Other changes in net assets or fund balances change in post-retirement liability - -698854; patronage dividends reported as benefits paid to members - 17656370; PENINSULA GENERATION COOPERATIVE 10125 W WATERGATE RD CADILLAC MI 49601 273659272 POWER SUPPLIER MI 501(c)(12) WOLVERINE POWER SUPPLY COOPERATIVE INC true SPARTAN RENEWABLE ENERGY Inc 10125 W WATERGATE RD CADILLAC MI 49601 205990509 ALT ELECTRIC SUPPLIER MI Wolverine Power Supply Cooperative Inc C Corporation 118674 8906195 0.9091 true false false false true false false false false false true false true true false true true true false false Spartan Renewable Energy M 398676 Purchases of Renewable Energy Peninsula Generation Cooperative M 57985986 Energy Purchases Spartan Renewable Energy L 7794203 Energy Sales Spartan Renewable Energy Q 88979 Fair market value of services Schedule R, Part V, Line 1d LINE OF CREDIT ON DECEMBER 16, 2021, SPARTAN ENTERED INTO A $2,000,000 LINE OF CREDIT WITH COBANK, WITH A MATURITY DATE OF DECEMBER 16, 2026. THE LINE OF CREDIT IS GUARANTEED BY WOLVERINE. SPARTAN HAS NO OUTSTANDING BORROWING ON ITS LINE AS OF DECEMBER 31, 2022, OR 2023.