2025-11-04T11:13:10-06:00 2024-12-31 450310328 BRADY MARTZ & ASSOCIATES PC PO BOX 14296 GRAND FORKS ND 582084296 990 2024-01-01 410510033 ROSEAU ELECTRIC COOPERATIVE INC ROSE 2184631543 1107 3RD STREET NE ROSEAU MN 56751 RYAN SEVERSON GENERAL MANAGER 2184631543 2025-10-30 1 1 MATT LAUGHLIN P00014168 7017754685 2025-10-20 2024 2025-03-06 01:10:19Z RYAN SEVERSON 1107 3RD STREET NE ROSEAU MN 56751 20439224 0 X WWW.ROSEAUELECTRIC.COOP X 1940 MN TO DELIVER ELECTRICITY TO MEMBERS 9 9 34 0 1233555 81314 0 0 20059472 19679288 37419 77889 492099 682047 20588990 20439224 0 0 1087785 645095 3293370 3408246 0 0 0 15646472 16159507 20027627 20212848 561363 226376 44718251 46463378 22971235 24558260 21747016 21905118 ROSEAU ELECTRIC COOPERATIVE IS COMMITTED TO PROVIDING ITS MEMBER OWNERS LOW COST, HIGH QUALITY, SAFE, AND RELIABLE ELECTRICITY WITH FRIENDLY, EFFICIENT, AND KNOWLEDGEABLE SERVICE. 0 0 THE COOPERATIVE DELIVERS ELECTRIC ENERGY TO ITS 6,737 MEMBERS. THE COOPERATIVE SERVES 2,188 MILES. 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 19 0 1 34 1 1 1 0 0 0 0 18977914 1141419 0 0 0 X 9 9 0 0 0 0 1 1 1 1 0 0 0 0 1 1 1 1 1 1 0 0 X RYAN SEVERSON 2184631543 PO BOX 100 ROSEAU MN 56751 X JOE TESAREK DIRECTOR 6.71 X 9100 0 0 JAMES CHRISTIANSON DIRECTOR 6.00 X 8950 0 0 KERMIT JENSEN DIRECTOR 5.67 X 7850 0 0 BRIAN GRAFSTROM VICE PRESIDENT 5.87 X X 7850 0 0 MARK SAX PRESIDENT 4.22 X X 5750 0 0 MIKE WAHL SECRETARY/TREASURER 4.02 X X 5500 0 0 SHAWN GUST DIRECTOR 7.51 X 4750 0 0 RONALD STOREY DIRECTOR (STARTED APRIL 2024) 3.33 X 4600 0 0 ROBERT TUTTLE DIRECTOR (STARTED APRIL 2024) 3.22 X 4250 0 0 EDWARD WALSH DIRECTOR (THROUGH APRIL 2024) 11.69 X 3500 0 0 JAMES HALLAN VICE PRESIDENT (THROUGH APRIL 2024) 3.08 X X 1250 0 0 TRACEY STOLL GENERAL MANAGER 40.00 X 176324 0 133217 RYAN SEVERSON ASSISTANT MANAGER 40.00 X 160226 0 54235 MICHAEL MILLNER LINE SUPERINTENDENT 40.00 X 122939 0 74709 RALPH LANDMAN LINE CREW FOREMAN 40.00 X 117514 0 48780 JEREMY LINDEMANN MEMBER SERVICE DIRECTOR 40.00 X 113775 0 52859 JUSTIN OLSON LINEMAN 40.00 X 108575 0 61858 ALEX MCMILLIN OFFICE MANAGER 40.00 X 107011 0 58467 969714 0 484125 9 0 1 0 MVM CONTRACTING INC 3350 35TH AVE S STE 1 FARGO ND 58104 FIBER INSTALLATION 480891 1 ELECTRIC SALES 221000 18887189 18887189 FIBER SALES 517000 701374 701374 OTHER SUPPORTING REVENUE 221000 90725 90725 19679288 77889 77889 FTTH REVENUE 517000 335861 335861 MAINTENANCE CONTRACT 811000 196320 196320 CAPITAL CREDITS 221000 149831 149831 35 35 682047 20439224 19127780 1233555 77889 X 645095 543486 2100867 549751 214142 921218 2070433 COST OF POWER 11251838 ADMIN AND GENERAL 2088634 DISTRIBUTIONS 1742518 CUSTOMER SERV & ACCTS 982891 -2898025 20212848 37032 23907 1463072 1864614 800000 800000 2282162 2268825 2010943 1922440 122535 63906 74186475 39171417 33546679 35015058 4455828 4504628 44718251 46463378 1947368 1995262 180949 182305 10571 10455 18560092 20407690 2000000 1700967 272255 261581 22971235 24558260 X 0 0 0 0 21747016 21905118 21747016 21905118 44718251 46463378 X 226376 -68274 X 0 1 X 1 0 0 1 X 210000 210000 3558452 1415006 2143446 65116250 37756411 27359839 5301773 5301773 35015058 NOTES RECEIVABLES 176146 C PATRONAGE CAP FROM ASSOC COOP 2181204 C INVESTMENT IN ASSOC ENTERPRISES 1745401 C SUBSCRIPTION TO CTC FROM CFC 347046 C INVESTMENTS IN NON-ASSOC ORGANZATIONS 54831 C 4504628 CONSUMER DEPOSITS 134356 CONTINGENT LIABILITY 127225 261581 X 20314498 0 20314498 124726 124726 20439224 19443027 0 19443027 769821 769821 20212848 PART IV, LINE 2B: THE MEMBERS OF THE COOPERATIVE CAN ELECT TO ROUND UP THEIR MONTHLY ELECTRIC BILL TO THE NEXT DOLLAR. THESE FUNDS COLLECTED FROM THE MEMBERSHIP ARE HELD IN A COOPERATIVE ACCOUNT UNTIL THEY ARE RELEASED TO THE ROSEAU ELECTRIC COOPERATIVE TRUST. THESE FUNDS ARE TRANSFERRED DIRECTLY TO THE OPERATION ROUND-UP ON A SEMI-ANNUAL BASIS. FUNDS THAT EXIST AT THE END OF THE YEAR ARE A RESULT OF A TIMING DIFFERENCE IN THE RECEIPT OF THE FUNDS AND THE RELEASE OF THEM TO THE OPERATION ROUND-UP. AS OF DECEMBER 31, 2024 AND 2023, THE ACCOUNT HELD $10,455 AND $10,571, RESPECTIVELY. PART X, LINE 2: THE COOPERATIVE IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(12). THE COOPERATIVE IS ANNUALLY REQUIRED TO FILE A RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX (FORM 990) WITH THE IRS. THE COOPERATIVE FILES AN EXEMPT ORGANIZATION BUSINESS INCOME TAX RETURN (FORM 990-T) WITH THE IRS TO REPORT ITS UNRELATED BUSINESS TAXABLE INCOME (UBTI). 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, 2024 AND 2023, 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. PART XI, LINE 4B - OTHER ADJUSTMENTS: MAINTENANCE CONTRACT EXPENSES 124,726. PART XII, LINE 4B - OTHER ADJUSTMENTS: MAINTENANCE CONTRACT EXPENSES 124,726. ALLOCATED CAPITAL CREDITS 645,095. X 0 0 0 TRACEY STOLL GENERAL MANAGER 174022 0 692 0 1610 0 110930 0 22545 0 309799 0 0 0 RYAN SEVERSON ASSISTANT MANAGER 158292 0 592 0 1342 0 54235 0 258 0 214719 0 0 0 MICHAEL MILLNER LINE SUPERINTENDENT 121289 0 515 0 1135 0 52422 0 22545 0 197906 0 0 0 JUSTIN OLSON LINEMAN 108074 0 345 0 156 0 39571 0 22347 0 170493 0 0 0 JEREMY LINDEMANN MEMBER SERVICE DIRECTOR 113533 0 0 0 242 0 35519 0 17408 0 166702 0 0 0 RALPH LANDMAN LINE CREW FOREMAN 115925 0 385 0 1204 0 37732 0 11444 0 166690 0 0 0 ALEX MCMILLIN OFFICE MANAGER 106083 0 437 0 491 0 36180 0 22425 0 165616 0 0 0 FORM 990, SCHEDULE J, PART II, COLUMN C INCLUDED IN SCHEDULE J, PART II, COLUMN C IS THE ESTIMATED ANNUAL 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 IN THE INCREASE IN THE ACTUARIAL VALUE OF THE PLAN RECEIVED FROM NRECA. THE CURRENT YEAR EXPENSE AND ESTIMATED ACTUARIAL INCREASE ARE REFLECTED IN THE SCHEDULE O STATEMENT FOR FORM 990, PART VII, COLUMN F. FORM 990, PART VI, SECTION A, LINE 6 THE COOPERATIVE HAS ONLY ONE CLASS OF MEMBERSHIP. FORM 990, PART VI, SECTION A, LINE 7A ALL MEMBERS ARE OF THE SAME CLASS AND EACH MEMBER IS ENTITLED TO ONE VOTE. FORM 990, PART VI, SECTION A, LINE 7B A SALE OF MORE THAN 25% OF THE COOPERATIVE'S ASSETS MUST BE APPROVED BY THE MEMBERSHIP. APPROVAL FROM THE MEMBERSHIP IS ALSO REQUIRED FOR AN AMENDMENT OF THE BYLAWS. FORM 990, PART VI, SECTION A, LINE 8B THERE ARE NO COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE FULL BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 11B THE GENERAL MANAGER AND OFFICE MANAGER WILL REVIEW A DRAFT OF THE FORM 990 PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD OF DIRECTORS AND ALL STAFF EMPLOYEES ARE COVERED BY THE CONFLICT OF INTEREST POLICY. THE MANAGER REVIEWS THE DISCLOSURES. IF A CONFLICT ARISES THE EXISTENCE AND NATURE OF THE CONFLICTING INTEREST AND ALL FACTS KNOWN ARE PROVIDED TO THE DISINTERESTED DIRECTORS, WHO WILL DELIBERATE AND VOTE REGARDING THE TRANSACTION OUTSIDE THE PRESENCE OF, AND WITHOUT PARTICIPATION BY, THE INTERESTED PERSON. A MAJORITY OF THE DISINTERESTED DIRECTORS, BUT NOT LESS THAN TWO, AUTHORIZES THE TRANSACTION AS LONG AS IT HAS FAIR TERMS AND IS COMPARABLE TO WHAT MIGHT HAVE BEEN OBTAINED IN AN ARM'S LENGTH TRANSACTION. FORM 990, PART VI, SECTION B, LINE 15A THE BOARD OF DIRECTORS ANNUALLY DETERMINES THE GENERAL MANAGER'S SALARY. DELIBERATION IS BASED ON PERFORMANCE AND A SALARY SURVEY OF SIMILAR POSITIONS FROM SURROUNDING COOPERATIVES. THE GENERAL MANAGER'S SALARY IS ADJUSTED ACCORDINGLY AND THE DELIBERATION IS DOCUMENTED IN THE MINUTES. THE ASSISTANT MANAGER'S SALARY IS REVIEWED ANNUALLY BY THE GENERAL MANAGER. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART VII, COLUMN F INCLUDED IN COLUMN F IS THE ESTIMATED ANNUAL INCREASE IN THE ACTUARIAL VALUE OF THE DEFINED BENEFIT PENSION PLAN. THE ESTIMATED INCREASE FOR EACH EMPLOYEE IS: TRACEY STOLL: $98,330 RYAN SEVERSON: $43,454 MICHAEL MILLNER: $43,042 RALPH LANDMAN: $30,727 JUSTIN OLSON: $33,261 JEREMY LINDEMANN: $29,509 ALEX MCMILLIN: $28,236 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 BENEFITS PLAN FOR EACH EMPLOYEE IS: TRACEY STOLL: $52,734 RYAN SEVERSON: $44,669 MICHAEL MILLNER: $39,955 RALPH LANDMAN: $30,925 JUSTIN OLSON: $27,736 JEREMY LINDEMANN: $28,047 ALEX MCMILLIN: $33,350 FORM 990, PART IX, LINE 4 PATRONAGE DIVIDENDS PAID: 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 IX, LINE 24E THE LABOR, PENSION AND PAYROLL TAXES REPORTED ON LINES 5-10 ARE ALREADY INCLUDED IN DISTRIBUTION EXPENSE, ADMINISTRATIVE AND GENERAL EXPENSE AND CUSTOMER EXPENSE. THEREFORE, THESE AMOUNTS ARE BEING SUBTRACTED OUT AS AN OTHER DEDUCTION ON LINE 24E IN THE AMOUNT OF $3,408,246. THIS AMOUNT IS NETTED WITH FIBER COST OF SALES OF AND OTHER EXPENSES OF $382,321 AND $127,900 TO ARRIVE AT THE TOTAL SHOWN ON LINE 24E. FORM 990, PART XI, LINE 9: ALLOCATED CAPITAL CREDITS 645,095. RETIREMENT OF PATRONAGE CAPITAL -728,545. DISCOUNTED CAPITAL CREDITS 21,398. RETIRED CAPITAL CREDIT GAIN -6,222. ROSEAU ELECTRIC COOPERATIVE TRUST 1107 3RD ST NE ROSEAU MN 567510100 387092612 COMMUNITY SUPPORT MN 501(C)(3) LINE 10 ROSEAU ELECTRIC COOPERATIVE INC 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0