2025-08-29T08:37:37-05:00 2024-12-31 450250958 Eide Bailly LLP 4585 Coleman St Ste 200 Bismarck ND 58503 990 2024-01-01 450216732 Mountrail-Williams Electric Cooperative MOUN 7015773765 PO Box 1346 Williston ND 588021346 Alex Vournas General Manager 7015773765 2025-08-28 1 1 Lisa Chaffee CPA P00193453 7012551091 2025-08-28 2024 2025-03-06 01:10:19Z Robert Grant PO Box 1346 Williston ND 588021346 703401908 0 X www.mwec.com X 1944 ND Meet the changing needs of members, provide excellent electric service & improve the community. 9 9 145 0 0 0 0 0 461375148 488466829 2125227 2067221 76109 306295 463576484 490840345 0 0 52848618 57313380 20041889 22248063 0 0 0 388559140 409202360 461449647 488763803 2126837 2076542 893263831 957456348 503966431 523944133 389297400 433512215 X Mountrail-Williams Electric Cooperative is a member-owned cooperative that exists to meet the changing needs of its membership, to provide them with personal, excellent service and to keep them fully informed about their cooperative. Our mission includes playing a leadership role in the community and contributing to improving the quality of life in our service area. We seek to accomplish these purposes by providing professional and personal development opportunities for employees and directors. Further, we seek to meet our responsibilities through prudent management and with rates that are fair and equitable. 0 0 Provided electric service to approximately 8,629 members servicing 5,468 miles of line. During 2024 the Cooperative removed 101.36 miles and added 123.66 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 1 427 0 1 145 1 0 0 0 0 0 460544211 2076540 0 0 0 X 9 9 0 0 1 0 1 1 1 1 0 0 0 1 1 1 1 1 1 1 1 0 X Cole Hendrickson 7015773765 PO Box 1346 Williston ND 588021346 X Robert Grant Chairperson 8.50 X X 29206 0 0 Blaine Jorgenson Secretary 5.70 X X 17307 0 0 Garrett Lalim Vice Chairperson 4.00 X X 16327 0 0 Kyle Detienne Treasurer 5.50 X X 20425 0 0 Charlene Aubol Director (Until 4/24) 4.10 X 4625 0 0 Jennifer Wade Director 3.90 X 10633 0 0 Pete Petersen Director 7.70 X 19410 0 0 Brion Norby Director 6.40 X 27152 0 0 Ryan Wilhelmi Director 4.30 X 19123 0 0 Geri Bratvold Director (As of 8/24) 4.60 X 6244 0 0 Dale L Haugen General Manager (Until 4/24) 39.70 X 238800 0 122680 Alex Vournas General Manager (Jan-Dec) 54.80 X 349027 0 88028 Jay P Lux CFO (Jan-Dec) 43.10 X 249707 0 221208 Cole Hendrickson CFO (As of 9/24) 43.90 X 61908 0 16513 Jerry Rehak Special Projects Manager 40.70 X 215302 0 102296 Leah Johnson Ellis In-House Legal Counsel 41.70 X 207038 0 74064 Matthew Glueckert Operations Manager 44.90 X 198507 0 74299 Darin Swensrud Line Superintendent 41.40 X 188011 0 176097 Chris Meiers Operations Superintendent 42.00 X 186636 0 164123 2065388 0 1039308 98 0 1 0 J Grubl Excavating PO Box 503 Sturgis SD 57785 Electric Distribution Construction 10409816 Anderson & Wood Construction 2120 E Lanark St Meridian ID 83642 Electric substation & Transmission Const 9780604 Keller Construction LLC 2902 Yale Court Rapid City SD 57702 Electric Distribution Construction 2730617 JRG Power LLC PO Box 503 Sturgis SD 57785 Electric Distribution Construction 1487735 HDR Engineering Inc 970 S 29th St Billings MT 59102 Electrical Engineering 1238330 13 Electric Revenues 221000 464955594 464955594 Capital Credits 221000 23511235 23511235 488466829 2076542 2076542 211356841 211366162 -9321 -9321 -9321 1501696 1195401 306295 306295 490840345 488773124 0 2067221 X 57313380 1383585 15848957 3756751 1258770 18038566 24023452 Cost of Power 354650404 Distribution Expense 18572042 Administrative and Gene 7186824 Customer Accounts 2167574 -15436502 488763803 28971184 14590443 35100519 25550836 29524298 53431549 52496759 52564818 823909792 197201279 581875453 626708513 809654 865040 500 500 164385964 183368917 99500 375732 893263831 957456348 46256044 47115549 20890439 21547679 1458 1432 397518587 413138364 39299903 42141109 503966431 523944133 X 15785704 18643294 0 0 373511696 414868921 389297400 433512215 893263831 957456348 X 2076542 42138273 X 0 1 X 1 0 0 1 X 7635202 7635202 80905576 13768362 67137214 644621807 183432917 461188890 90747207 90747207 626708513 Patronage Capital 182413213 C RESC Stock 500 C NRUFC Certificates 690638 C Memberships 9975 C Revolving Loan Pool 254591 C 183368917 Deferred Compensation 865040 Post Retirement Obligation 71784 Reserves For Plant and Power Improvement 28516550 Customer Deposits 4360765 Customer Construction Prepayments 8326970 42141109 X 490840345 0 490840345 0 490840345 431450423 0 431450423 57313380 57313380 488763803 Part IV, Line 2b: The Cooperative collects funds for the Operation Round Up program for the Mountrail Cooperative Trust and the Williams Cooperative Trust from the members. These funds are recorded as a liability on the Cooperative financials until they are released to the Trust on a quarterly basis. Mountrail Cooperative Trust receives 45% of the funds, while Williams Cooperative Trust receives 55% of the funds. Part X, Line 2: 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. The Cooperative is no longer subject to Federal tax examinations by tax authorities for years before 2021 and state examinations for years before 2021. Part XII, Line 4b - Other Adjustments: Allocated Patronage Capital 57,313,380. X X 0 0 0 Jay P Lux CFO (Jan-Dec) 244088 0 1900 0 3719 0 188006 0 35521 0 473234 0 0 0 Alex Vournas General Manager (Jan-Dec) 345690 0 1400 0 1937 0 55825 0 34447 0 439299 0 0 0 Darin Swensrud Line Superintendent 182857 0 1900 0 3254 0 147521 0 30344 0 365876 0 0 0 Dale L Haugen General Manager (Until 4/24) 109740 0 117002 0 12058 0 113279 0 10391 0 362470 0 112207 0 Chris Meiers Operations Superintendent 183230 0 1900 0 1506 0 135920 0 29965 0 352521 0 0 0 Jerry Rehak Special Projects Manager 205393 0 1400 0 8509 0 68333 0 35993 0 319628 0 0 0 Leah Johnson Ellis In-House Legal Counsel 205380 0 900 0 758 0 40088 0 35921 0 283047 0 0 0 Matthew Glueckert Operations Manager 196890 0 900 0 717 0 45710 0 30422 0 274639 0 0 0 Schedule J, Part II, Column C, Deferred Compensation Included in other compensation is the estimated current year 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 of the increase in the actuarial value of the plans received from the NRECA. The current year expense and the increase in actuarial value for each employee are reflected in the statement for Form 990, Part VII, Column f. Form 990, Part VI, Section A, line 4 The organization changed Article XIII of the bylaws to change the process for members to request a change to the bylaws. There are now two procedures for member-proposed changes. The first option provides members a process to present changes to the Board of Directors, and if the Board of Directors supports the language, the proposed change will be presented for a membership vote at an annual meeting. The second option provides a petition process and requirements to be presented for a membership vote at an annual meeting that does not require the Board of Directors support. Form 990, Part VI, Section A, line 6 The Cooperative has one class of members. Each member has one vote. A household is considered to be one member. Form 990, Part VI, Section A, line 7a The members of the Cooperative elect the Board of Directors. Each member has one vote. Form 990, Part VI, Section A, line 7b Changes in the Cooperative's Bylaws and the sale of a high percentage of the Cooperative's assets must be approved by the members. Form 990, Part VI, Section A, line 8b There are no committees with the authority to act on behalf of the full Board of Directors. Form 990, Part VI, Section B, line 11b The Business Manager and General Manager will review a draft. The approved Form 990 will be presented at a board meeting prior to filing with the IRS. Form 990, Part VI, Section B, line 12c Directors of Mountrail-Williams Electric Cooperative are expected to disclose a situation which, in their opinion, is or could appear to be a conflict of interest. After such a disclosure, the Director must leave the Board meeting when issues involving the conflict of interest are discussed. The Director is not allowed to vote on issues regarding the conflict of interest. Form 990, Part VI, Section B, line 15 The Board performed an evaluation of the General Manager. They compared his compensation with the state wide salary survey as a guide to the compensation amount. The Board votes on the compensation. For the General Manager this is an annual occurrence. The Board negotiates with the union in regards to staff increases. The Business Manager's salary is determined by the General Manager. Form 990, Part VI, Section C, line 19 The Organization makes its governing documents, conflict of interest policy and financial statements available upon request. All new members receive a copy of the bylaws upon becoming a member. A financial report is distributed at the members' annual meeting. Form 990, Part VII Other Compensation: Included in column "F", Estimated Amount of Other Compensation, is the estimated annual increase in the actuarial value of the defined benefit plan. The estimated increase is as follows for those listed in Part VII: Dale Haugen $108,790 Jay Lux $177,890 Alex Vournas $21,325 Cole Hendrickson $1,510 Jerry Rehak $59,735 Leah Johnson Ellis $18,591 Matthew Glueckert $25,143 Darin Swensrud $139,856 Chris Meiers $128,255 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 benefit plan was as follows: Dale Haugen $39,047 Jay Lux $88,465 Alex Vournas $36,366 Cole Hendrickson $4,890 Jerry Rehak $75,195 Leah Johnson Ellis $31,223 Matthew Glueckert $29,193 Darin Swensrud $67,031 Chris Meiers $67,031 Form 990, Part IX, Line 24e Allocated Costs: The labor, pension and payroll taxes reported on lines 5-10 are already included in distribution expense, administrative & general expense and customer expense. Therefore, these amounts are being subtracted out as an other deduction on line 24e in the amount of $(22,248,063). Form 990, Part IX, Functional Expense, Line 4: Benefits Paid to Members: The Cooperative has interpreted the instructions to Part IX, Line 4, to mean patronage capital allocated for the year, rather than patronage capital retired. This is consistent with the Bylaws of the Cooperative. Form 990, Part XI, line 9: Retirement of Capital Credits -15,905,867. Discounted Estate Requirements 42,184. Unclaimed Capital Credits 688,576. Patronage Capital Credits Allocated For Current Year 57,313,380. Mountrail Cooperative Trust Inc PO Box 1346 Williston ND 58802 911796201 Community Support ND 501(c)(3) 7 Mountrail-Williams Electric Cooperative 1 Williams Cooperative Trust Inc PO Box 1346 Williston ND 58802 911796235 Community Support ND 501(c)(3) 7 Mountrail-Williams Electric Cooperative 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0