2025-09-29T12:08:23-05:00 2024-12-31 450250958 EIDE BAILLY LLP 345 N REID PL STE 400 SIOUX FALLS SD 571037034 990 2024-01-01 410167135 BROWN COUNTY RURAL ELECTRICAL ASSOCIATION BROW 5077943331 PO BOX 529 SLEEPY EYE MN 560850529 MICHAEL HEIDEMANN CEO 5077943331 2025-09-23 1 1 LAURIE HANSON CPA P00851848 6053391999 2025-09-22 2024 2025-03-06 01:10:19Z MICHAEL HEIDEMANN PO BOX 529 SLEEPY EYE MN 560850529 17280508 0 X WWW.BROWNCOUNTYREA.COOP X 1937 MN TO PROVIDE ELECTRICITY SERVICE TO MEMBERS. 9 9 17 0 31618 22513 0 0 17145339 16766705 321501 394144 2776 -2284 17469616 17158565 2953 2870 2219576 1787577 566119 558173 0 0 0 14512167 14743821 17300815 17092441 168801 66124 47777901 49130905 24888999 25068333 22888902 24062572 THE MISSION OF BROWN COUNTY ELECTRIC IS TO IMPROVE THE QUALITY OF LIFE FOR ITS MEMBERS BY PROVIDING RELIABLE ELECTRICITY AND SERVICES THAT ARE COMPETITIVELY PRICED. 0 0 THE COOPERATIVE ENGAGES IN THE DISTRIBUTION AND SALE OF ELECTRICAL POWER TO APPROXIMATELY 3,755 MEMBERS IN SOUTHWESTERN MINNESOTA WITH 4,607 ACTIVE ACCOUNTS. THE COOPERATIVE HAS 1,535 MILES OF LINE CONSISTING OF 769 MILES OF OVERHEAD AND 766 MILES OF UNDERGROUND LINE. 0 0 0 0 0 0 0 0 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 0 0 1 19 0 1 17 1 1 1 0 0 0 0 16799412 788386 0 0 0 X 9 9 0 0 0 0 1 1 1 1 0 0 0 1 1 1 1 1 1 1 1 1 1 X JENNIFER ROSE 5077943331 24386 STATE HIGHWAY 4 SLEEPY EYE MN 56085 THOMAS HAYES PRESIDENT 9.10 X X 15150 0 0 WILLIAM BERG VICE PRESIDENT 6.20 X X 14000 0 0 JAMES HANSON SECRETARY/TREASURER 7.80 X X 13000 0 0 JOEL CHRISTENSEN DIRECTOR 4.10 X 11000 0 0 GREGORY MAGES DIRECTOR 3.70 X 11900 0 0 BRADLEY SPRENGER DIRECTOR 4.50 X 12200 0 0 DAVID WENDINGER DIRECTOR 5.30 X 12700 0 0 LANDON SLETTA DIRECTOR 3.90 X 12200 0 0 JAMES MICKELSON DIRECTOR 5.30 X 13900 0 0 MICHAEL HEIDEMANN CEO 40.30 X 174158 0 94825 JENNIFER ROSE CFO 43.30 X 93510 0 60722 BRANDON HAVEMEIER ENGINEERING AND OPERATIONS MANAGER 45.80 X 126568 0 56441 NICHOLAS HORMAN LINEMAN-IN-CHARGE 41.70 X 121359 0 16380 CONNOR NELSEN LINEMAN 41.10 X 107505 0 23604 ADAM FISCHER LINEMAN-IN-CHARGE 41.40 X 112538 0 48501 TYLER JENSEN LINEMAN 41.60 X 106419 0 42590 958107 0 343063 7 0 1 0 SOUTHWOOD 2000 60 PINE STREET CLEMENTS MN 56224 URD LOCATING, ENGINEERING SERVICES, POLE 236353 ZINNIEL UTILITY CONTRACTING INC 4 SOMSEN ST NEW ULM MN 56085 UNDERGROUND BORING 177972 CARR'S TREE SERVICE PO BOX 250 OTTERTAIL MN 56571 TREE TRIMMING 131531 3 ELECTRIC SALES 221000 16397243 16397243 CAPITAL CREDITS 221000 338869 338869 OTHER SALES 221000 30593 30593 16766705 350144 350144 44000 0 44000 44000 44000 88041 121943 -33902 -33902 EQUITY EARNINGS 900099 31618 31618 31618 17158565 16732803 31618 394144 2870 1787577 558173 658491 1493038 UBI TAX EXPENSE 16946 COST OF POWER 9980139 DISTRIBUTION-MAINTENANC 911088 ADMINISTRATIVE AND GENE 738892 945227 17092441 7459646 8132789 1653201 1555697 1197729 1621671 40288 88294 47862591 19138127 28482642 28724464 265908 274536 8630455 8711267 48032 22187 47777901 49130905 2143133 2262152 69541 71255 22647439 22726570 28886 8356 24888999 25068333 X 0 0 0 0 22888902 24062572 22888902 24062572 47777901 49130905 X 66124 1107546 X 0 1 X 1 0 59166 59166 1129223 966717 162506 46615547 18171410 28444137 58655 58655 28724464 GREAT RIVER ENERGY 6929513 C COOPERATIVE TELEVISION ASSOCIATION OF SOUTHERN MINNESOTA (CTV) 554252 C NATIONAL RURAL UTILITIES COOPERATIVE FINANCE CORPORATION 781034 C FEDERATED RURAL ELECTRIC INSURANCE 94913 C MEMBERSHIP 1000 C RURAL ELECTRIC SUPPLY COOPERATIVE 163824 C MINNESOTA RURAL ELECTRIC TRUST EQUITY 18697 C SMEC 23442 C OTHER PATRONAGE CAPITAL AND MEMBERSHIP 144592 C 8711267 CUSTOMER DEPOSITS 8356 8356 X 17158565 0 17158565 0 17158565 15304864 0 15304864 1787577 1787577 17092441 PART X, LINE 2: THE ASSOCIATION 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 ASSOCIATION WILL RECOGNIZE FUTURE ACCRUED INTEREST AND PENALTIES RELATED TO UNRECOGNIZED TAX BENEFITS IN INCOME TAX EXPENSE IF INCURRED. PART XII, LINE 4B - OTHER ADJUSTMENTS: 2024 PATRONAGE ALLOCATION IN 2025 1,787,577. X 0 0 0 MICHAEL HEIDEMANN CEO 174158 0 0 0 0 0 58349 0 37208 0 269715 0 0 0 BRANDON HAVEMEIER ENGINEERING AND OPERATIONS MANAGER 126568 0 0 0 0 0 20164 0 38831 0 185563 0 0 0 ADAM FISCHER LINEMAN-IN-CHARGE 112538 0 0 0 0 0 18168 0 32360 0 163066 0 0 0 JENNIFER ROSE CFO 93510 0 0 0 0 0 23157 0 39568 0 156235 0 0 0 TYLER JENSEN LINEMAN 106419 0 0 0 0 0 13568 0 30902 0 150889 0 0 0 FORM 990, SCHEDULE J, PART II: AS REQUIRED PER THE INSTRUCTIONS OF FORM 990 AND SCHEDULE J, THE AMOUNT REPORTED IN SCHEDULE J COLUMN C IS THE CHANGE IN ACTUARIAL VALUE IN THE DEFINED BENEFIT PLAN RATHER THAN THE EXPENSE ON THE BOOKS OF THE COOPERATIVE. THE CHANGE IN ACTUARIAL VALUE IN THE DEFINED BENEFIT PLAN FOR MICHAEL HEIDEMANN IS $49,104, WHEREAS THE ACTUAL EXPENSE FOR THE PLAN WAS $52,820. THE CHANGE IN ACTUARIAL VALUE IN THE DEFINED BENEFIT PLAN FOR BRANDON HAVEMEIER IS $13,351, WHEREAS THE ACTUAL EXPENSE FOR THE PLAN WAS $38,930. THE CHANGE IN ACTUARIAL VALUE IN THE DEFINED BENEFIT PLAN FOR JENNIFER ROSE IS $17,852, WHEREAS THE ACTUAL EXPENSE FOR THE PLAN WAS $30,310. THE CHANGE IN ACTUARIAL VALUE IN THE DEFINED BENEFIT PLAN FOR ADAM FISCHER IS $12,240, WHEREAS THE ACTUAL EXPENSE FOR THE PLAN WAS $18,335. THE CHANGE IN ACTUARIAL VALUE IN THE DEFINED BENEFIT PLAN FOR TYLER JENSEN IS $8,027, WHEREAS THE ACTUAL EXPENSE FOR THE PLAN WAS $17,056. FORM 990, PART VI, SECTION A, LINE 6 ALL ELECTRIC CUSTOMERS ARE VOTING MEMBERS OF THE COOPERATIVE. EACH MEMBER HAS ONE VOTE. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS VOTE FOR THE BOARD OF DIRECTORS AT THE COOPERATIVE'S ANNUAL MEETING. THE BOARD CONSISTS OF 9 MEMBERS WITH 3 YEAR TERMS. EACH YEAR THREE SEATS ARE UP FOR RE-ELECTION. FORM 990, PART VI, SECTION A, LINE 7B MEMBERS VOTE ON CHANGES TO BY-LAWS AND ARTICLES OF INCORPORATION. THERE IS ONE CLASS OF MEMBERSHIP. FORM 990, PART VI, SECTION A, LINE 8B THE COOPERATIVE DOES NOT HAVE ANY COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B THE CFO REVIEWS THE 990 IN DETAIL. AFTER HER REVIEW, THE 990 IS PROVIDED TO EACH BOARD MEMBER AND THE GENERAL MANAGER. THE BOARD MEETS EVERY MONTH, AND WILL REVIEW AND APPROVE THE 990 AT THE NEXT SCHEDULED BOARD MEETING. THE 990 WILL THEN BE FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY COVERS ALL MEMBERS OF THE BOARD OF DIRECTORS. THE GENERAL MANAGER AND THE BOARD OF DIRECTORS REVIEW THE POTENTIAL CONFLICTS TO DETERMINE IF A CONFLICT EXISTS. IF A CONFLICT EXISTS, THE CONFLICTED BOARD MEMBER OR OFFICER IS EXCLUDED FROM DISCUSSIONS AND VOTES RELATED TO THE POTENTIAL OR EXISTING RELATIONSHIP INVOLVING THE CONFLICT OF INTEREST. THE REMAINING BOARD MEMBERS AND OFFICERS WILL REVIEW, FOR FAIRNESS, ALL PAST TRANSACTIONS INVOLVING THE CONFLICT OF INTEREST. LEGAL REMEDIES WILL BE CONSIDERED IF NEEDED. FORM 990, PART VI, SECTION B, LINE 15 THE GENERAL MANAGER'S COMPENSATION IS REVIEWED AND APPROVED BY THE BOARD OF DIRECTORS ON AN ANNUAL BASIS. STAFF COMPENSATION IS REVIEWED AND APPROVED BY THE GENERAL MANAGER AND THE BOARD OF DIRECTORS ANNUALLY. FORM 990, PART VI, SECTION C, LINE 19 ALL DOCUMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGES IN POSTRETIREMENT BENEFIT PLAN -1,671. RETIREMENT OF CAPITAL CREDITS -678,335. NET CHANGES IN MEMBERSHIPS -25. 2024 PATRONAGE ALLOCATION IN 2025 1,787,577. BROWN COUNTY RURAL ELECTRIC TRUST 24386 STATE HWY 4 SLEEPY EYE MN 56085 411802166 TO ACCUMULATE AND DISTRIBUTE FUNDS FOR CHARITABLE AND EDUCATIONAL PURPOSES. MN 501(C)(3) LINE 8 BROWN COUNTY RURAL ELECTRICAL ASSOCIATION 1 0 0 0 0 0 0 0 0 0 0 0 1 0 1 1 0 0 1 0