2024-04-30T09:16:22-07:00 2023-12-31 990 2023-01-01 450166406 MINNKOTA POWER COOPERATIVE INC MINN 7017954000 5301 32nd Avenue South Grand Forks ND 58201 Robert McLennan President & CEO 7017954000 2024-04-17 Robert McLennan 999009999 1 1 11 0 AAL2 X 2023 2023-04-26 12:10:37Z Robert McLennan 5301 32nd Ave S Grand Forks ND 58201 449704391 0 X www.minnkota.com X 1940 MN Minnkota Power Cooperative is a rural electric cooperative that generates and transmits electric power for eleven member cooperatives. 11 11 431 0 0 0 0 0 447046055 443190820 1262529 4160064 3314473 2353507 451623057 449704391 0 0 0 0 4814677 5150462 0 0 0 427893470 431519314 432708147 436669776 18914910 13034615 1158057527 1183715921 944460489 958382383 213597038 225333538 Minnkota Power is a rural electric cooperative that generates and transmits electric power. 0 0 Minnkota Power is a rural electric cooperative that generates and transmits electric power. 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 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 1 213 0 1 431 1 0 0 0 0 0 420038588 23152232 0 1 0 X 11 11 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 GA ND X Minnkota Power Cooperative Inc Kay Schraeder - Vice President and CFO 7017954000 5301 32nd Avenue South Grand Forks ND 58201 Robert McLennan President & CEO 40 0 X 1042101 0 209091 Lowell Stave Vice President and COO 40 0 X 417183 0 86091 Gerad Paul General Counsel-VP of Legal, Compliance & Risk Mgmt 40 0 X 361327 0 84075 Jami Hovet Vice President of Administration 40 0 X 305943 0 81086 Kay Schraeder Vice President and CFO 40 0 X 298448 0 80090 Todd Sailer Vice President of Power Supply 40 0 X 291069 0 77920 Craig Bleth Vice President of Project Development 40 0 X 287332 0 79941 Dan Inman Vice President and CISO 40 0 X 280871 0 70608 Brendan Kennelly Vice President of Power Delivery 40 0 X 256599 0 73548 Andrew Sorbo Vice President Strategic Initiatives 40 0 X 231184 0 67030 Shannon Mikula Environmental Manager 40 0 X 219513 0 68495 Stacey Dahl Vice President of External Affairs 40 0 X 219152 0 67957 Grant Gunderson Senior Manager Resource Planning 40 0 X 211514 0 65957 Theresa Brorby Senior Manager of Audit & Risk 40 0 X 192356 0 64266 Andrew Freidt Senior Manager of Power Production 40 0 X 203520 0 51592 Tim Hagerott Senior Manager of Product Development 40 0 X 198159 0 56721 Kalvin Hoff Board Member 3.9 0 X 19910 0 0 Rick Coe Board Member 3.9 0 X 19280 0 0 Les Windjue Board Member 3.6 0 X 2000 0 17060 Mark Habedank Board Chair 3.9 0 X X 18640 0 0 Colette Kujava Board Secretary/Treasurer 3.9 0 X X 16121 0 0 Steve Arnesen Board Member 3.9 0 X 12840 0 0 Mike Wahl Board Member 3.7 0 X 12100 0 0 Tom Woinarowicz Board Vice Chair 3.90 0 X 10950 0 0 Anthony Ottem Board Member 3.9 0 X 10020 0 0 Roger Krostue Board Member 3.7 0 X 9640 0 0 Cheryl Grover Board Member 3.9 0 X 2650 0 0 5150422 0 1301528 242 0 1 0 Holland & Knight PO Box 936937 Atlanta GA 311936937 Legal 1468376 Sargent & Lundy 8070 Solutions Center Chicago IL 606778000 Engineering Services 1229004 Burns & McDonnell Engineering PO Box 411883 Kansas City MO 641411883 Engineering Services 410810 David Greeson Consulting LLC 600 Country Club Drive Richmond TX 77469 Consulting 381286 Fredrikson & Byron PA PO Box 1484 Minneapolis MN 554801484 Legal 296187 11 0 Sale of Electric Power 221000 443190820 443190820 0 0 0 0 0 0 443190820 4160064 4160064 0 0 0 0 0 0 1350000 1350000 0 0 0 0 0 0 0 Miscellaneous Nonoperating Revenue 221000 1003507 1003507 0 0 0 0 0 0 1003507 449704391 449704391 0 0 0 0 0 5150462 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 28260318 0 30944978 0 Production and Purchased Power 319987202 Transmission and Substation 32537463 General and Administrative 19789353 436669776 0 0 0 4523637 12711545 0 0 57423489 48777776 37269255 45063119 11858620 11416501 1411232000 420035620 975125361 991196380 71857165 74550600 1158057527 1183715921 81103237 70234993 803851236 825890058 59506016 62257332 944460489 958382383 X 1136 1136 0 0 213595902 225332402 213597038 225333538 1158057527 1183715921 X 13034615 0 0 0 0 -1298115 X 0 1 X 1 1 1 0 34726482 34726482 0 199764255 29650044 170114211 0 0 0 0 0 1176741263 390385576 786355687 0 0 0 0 991196380 Investments in Associated Companies 157803 F Other Investments 74392797 F 74550600 0 Post Retirement Health Insurance Obligation 2855326 Closure Cost Obligations 4465224 Deferred Credits 54936782 62257332 X 449704391 0 0 0 0 0 449704391 0 0 0 449704391 436669776 0 0 0 0 0 436669776 0 0 0 436669776 Schedule D, Part X, Line 2 The cooperative evaluates its tax positions that have been taken or expected to be taken on income tax returns to determine if an accrual is necessary for uncertain tax positions. As of December 31, 2023 and 2022, the unrecognized tax benefit was zero. The cooperative will recognize future accrued interest and penalties related to unrecognized tax benefits in income tax expense if incurred. X 1 1 X X 0 1 0 Robert McLennan President & CEO 904893 0 114708 0 22500 0 177800 0 31291 0 1251192 0 0 0 Lowell Stave Vice President and COO 351005 0 8558 0 57260 0 52800 0 33291 0 502914 0 0 0 Gerad Paul General Counsel-VP of Legal, Compliance & Risk Mgmt 332735 0 6092 0 22500 0 52800 0 31275 0 445402 0 0 0 Kay Schraeder Vice President and CFO 291248 0 0 0 7200 0 48799 0 31291 0 378538 0 0 0 Jami Hovet Vice President of Administration 305943 0 0 0 0 0 49795 0 31291 0 387029 0 0 0 Dan Inman Vice President and CISO 280871 0 0 0 0 0 45781 0 24827 0 351479 0 0 0 Craig Bleth Vice President of Project Development 287332 0 0 0 0 0 46650 0 33291 0 367273 0 0 0 Todd Sailer Vice President of Power Supply 255645 0 0 0 35424 0 45631 0 32289 0 368989 0 0 0 Andrew Sorbo Vice President Strategic Initiatives 231184 0 0 0 0 0 35739 0 31291 0 298214 0 0 0 Grant Gunderson Senior Manager Power Delivery Operations 211514 0 0 0 0 0 34666 0 31291 0 277471 0 0 0 Brendan Kennelly Vice President of Power Delivery 256599 0 0 0 0 0 42257 0 31291 0 330147 0 0 0 Theresa Brorby Senior Manager of Audit & Risk 192356 0 0 0 0 0 31975 0 32291 0 256622 0 0 0 Tim Hagerott Senior Manager of Power Production 198159 0 0 0 0 0 32874 0 23847 0 254880 0 0 0 Stacey Dahl Vice President of External Affairs 218874 0 0 0 278 0 36958 0 30999 0 287109 0 0 0 Andrew Freidt Senior Manager or Resource PLanning 203520 0 0 0 0 0 32795 0 18797 0 255112 0 0 0 Shannon Mikula Environmental Manager 219513 0 0 0 0 0 37204 0 31291 0 288008 0 0 0 Schedule J, Part I, Line 1a Robert McLennan, Lowell Stave, and Gerad Paul receive gross up non-qualified retirement plan compensation. Schedule J, Part I, Line 4 The Board of Directors adopted a 457(f) plan in which Robert McLennan may receive incentive compensation in 2026 and 2028, if all the terms of the plan are met. Form 990, Part VI, Section A, Line 6 Minnkota Power Cooperative has member cooperatives. Form 990, Part VI, Section A, Line 7a Minnkota Power Cooperative members elect members of the governing board at the annual meeting. Form 990, Part VI, Section A, Line 7b Minnkota Power Cooperative members approve the bylaw amendments. Form 990, Part VI, Section B, Line 11b The Form 990 is reviewed by the Board prior to the submission to the IRS. Form 990, Part VI, Section B, Line 12c The Minnkota Board of Directors has a "Code of Ethics and Business Conduct" policy with a section for "The Enforcement of the Code of Business and Ethics". This section directs the Board of Directors on how to report violations of the "Code of Business Ethics". Form 990, Part VI, Section B, Line 15 Compensation for the President & CEO is determined and approved by the Board of Directors. The Board also reviews and approves the compensation package for all employees. Form 990, Part VI, Section C, Line 19 Minnkota Power Cooperative will make the documents available upon request. Form 990, Part XI, Line 9 Other changes in net assets include other comprehensive gains related to the pension plans and post retirement health insurance obligations. Lignite Electric Power Cooperative Inc 5301 32nd Avenue South Grand Forks ND 58201 456011575 Coal Leases ND Minnkota Power Cooperative C 452 2775 1 0 Great Plains Tower Services LLC 5301 32nd Ave S Grand Forks ND 58201 934114313 Tower Maintenance ND Minnkota Power Cooperative C 0 309065 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0