2023-09-26T09:43:49-05:00 2022-12-31 410746749 CLIFTONLARSONALLEN LLP 2689 COMMERCE DRIVE NW SUITE 201 ROCHESTER MN 55901 990 2022-01-01 390783977 CENTRAL WISCONSIN ELECTRIC COOPERATIVE CENT 7156772211 PO BOX 100 ROSHOLT WI 54473 LILA A MALVIK-SHOWER PRESIDENT/CEO 7156772211 2023-08-31 1 LILA MALVIK-SHOWER 999009999 1 KATHERINE LUTZKE CPA P01760889 5072802300 2023-08-31 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z LILA A MALVIK-SHOWER PO BOX 100 ROSHOLT WI 54473 18702089 0 X HTTP://WWW.CWECOOP.COM/ X 1938 WI TO PROVIDE RELIABLE ELECTRIC ENERGY AND RELATED SERVICES TO MEMBERS UNDER COOPERATIVE PRINCIPLES. 7 7 27 0 203 0 0 0 15744273 18096492 170563 205479 280659 368710 16195495 18670681 0 0 714819 1040420 388885 416010 0 0 0 15198740 17097276 16302444 18553706 -106949 116975 60789666 63650466 40130155 42313412 20659511 21337054 WE ARE YOUR TRUSTED ENERGY PARTNER AND PROVIDER OF VALUED COMMUNITY SUPPORT. 0 0 THE COOPERATIVE SOLD 103,049,907 KWH OF ELECTRICITY TO MEMBERS DURING 2022. IN CONNECTION WITH THE COOPERATIVE'S MISSION THE COOPERATIVE CONTINUES TO PROVIDE RELIABLE, AFFORDABLE ENERGY, AND OTHER SERVICES OF MERIT IN A SAFE AND ENVIRONMENTALLY RESPONSIBLE MANNER TO RESPOND TO THE GROWING NEEDS OF OUR COMMUNITIES AND THOSE WE SERVE. 0 0 0 0 0 0 0 0 0 1 0 1 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 1 17 0 27 1 0 0 0 0 0 18694526 673413 0 0 0 X 7 7 0 0 0 0 1 1 0 1 0 0 0 1 1 1 1 1 1 1 0 0 X LILA SHOWER 7156772211 10401 LYSTUL ROAD ROSHOLT WI 54473 TOM SMITH CHAIRMAN 8.21 0.00 X X 12300 0 0 MICHAEL SCHULTZ VICE CHAIRMAN 5.84 0.00 X X 10200 0 0 LEE LEHRER SECRETARY/TREASURER 4.50 0.00 X X 10300 0 0 RONALD ONESTI DIRECTOR 6.68 0.00 X 9450 0 0 LOUIS OPPOR DIRECTOR 7.51 0.00 X 10750 0 0 SUE ROMBALSKI DIRECTOR 7.44 0.00 X 10300 0 0 ALLEN ZANDER DIRECTOR - PART YEAR 4.74 0.00 X 8650 0 0 MICHAEL L WADE PRESIDENT/CEO 50.00 0.00 X 177877 0 166183 JARRET BROW LINEMAN/JOURNEYMAN 40.00 0.00 X 117060 0 49970 KEVIN KURZWEIL VP OF OPERATIONS & ENGINEE 50.00 0.00 X 120911 0 101004 WYATT PHILLIPS LINEMAN 40.00 0.00 X 115589 0 50688 CHRIS TUSZKE LINEMAN 40.00 0.00 X 115850 0 89941 MACKENZIE C YARBROUGH CREW FOREMAN 40.00 0.00 X 118602 0 53958 837839 0 511744 8 0 1 0 AJ CONSTRUCTION 3532 PLAYBIRD ROAD SHEBOYGAN WI 53083 CABLE TRENCHING 510796 ZIELIE'S TREE SERVICE PO BOX 307 BRUCE WI 54819 BRUSH & SPRAYING 394678 TJADER & HIGHSTROM UTILITY SERVICES LLC 541 INDUSTRIAL BOULEVARD NEW RICHMOND WI 54017 CONSTRUCTION 346766 POWER SYSTEM ENGINEERING INC 2424 RIMROCK ROAD SUITE 300 MADISON WI 53713 CONSULTING 122308 4 SALE OF POWER 221000 18096492 18096492 18096492 192270 192270 13232 0 13232 13232 13232 39159 25950 13209 13209 13209 5575 5458 117 117 CAPITAL CREDITS 523000 207324 207324 ATC - REVENUE 900099 142979 142979 DBS K-1 INCOME 900099 203 203 4855 4855 355361 18670681 18464859 203 205619 X 1040420 416010 1425819 1846299 COST OF POWER 9022283 MAINTENANCE EXPENSE 1496418 OPERATIONS EXPENSE 1119431 ADMINISTRATIVE & GENERA 846221 1340805 18553706 525655 768200 2024323 2488067 1129657 777650 583694 891004 387671 345289 72346011 23909499 47839534 48436512 815318 795543 7483814 9148201 60789666 63650466 1058385 1284683 611974 260520 37398418 39579014 1061378 1189195 40130155 42313412 X 0 0 2417031 2049064 18242480 19287990 20659511 21337054 60789666 63650466 X 116975 560568 X X 0 1 X 1 0 224098 224098 4982070 1197073 3784997 67139843 22712426 44427417 48436512 INVESTMENTS IN NRUCFC NOTES 2607078 C INVESTMENT IN ATC, LLC 3239049 C OTHER ASSOCIATED ORGANIZATIONS 1707074 C INVESTMENT IN CFC PAPER 1595000 C 9148201 CUSTOMER DEPOSITS 48314 OTHER LIABILITIES 269150 ACCRUED INTEREST 296274 ACCRUED PAYROLL 342677 ACCRUED GROSS REVENUE TAX 232780 1189195 X PART X, LINE 2: THE COOPERATIVE IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(12) OF THE INTERNAL REVENUE CODE (IRC). THERE IS NO PROVISION FOR INCOME TAXES AT DECEMBER 31, 2022 AND 2021. THE COOPERATIVE AND ITS SUBSIDIARY EVALUATED THEIR TAX POSITIONS AND DETERMINED THAT THERE ARE NO UNCERTAIN TAX POSITIONS AS OF DECEMBER 31, 2022 AND 2021. X 0 0 0 MICHAEL L WADE PRESIDENT/CEO 177877 0 0 0 0 0 132371 0 33812 0 344060 0 0 0 KEVIN KURZWEIL VP OF OPERATIONS & ENGINEE 120911 0 0 0 0 0 80372 0 20632 0 221915 0 0 0 CHRIS TUSZKE LINEMAN 115850 0 0 0 0 0 61099 0 28842 0 205791 0 0 0 MACKENZIE C YARBROUGH CREW FOREMAN 118602 0 0 0 0 0 25221 0 28737 0 172560 0 0 0 JARRET BROW LINEMAN/JOURNEYMAN 117060 0 0 0 0 0 21139 0 28831 0 167030 0 0 0 WYATT PHILLIPS LINEMAN 115589 0 0 0 0 0 21857 0 28831 0 166277 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 ORGANIZATION IS A MEMBER COOPERATIVE. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERSHIP VOTES ON THE BOARD OF DIRECTORS. THERE ARE SEVEN DIRECTORS AND THEY REPRESENT THE MEMBERSHIP. FORM 990, PART VI, SECTION A, LINE 8B THE ORGANIZATION DOES NOT HAVE ANY COMMITTEES THAT HAVE AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B THE 990 IS REVIEWED BY THE CEO AND THE MANAGER OF ACCOUNTING AND FINANCE. THE MANAGER OF ACCOUNTING AND FINANCE PRESENTS THE 990 FORM TO THE BOARD OF DIRECTORS FOR THEIR REVIEW. FORM 990, PART VI, SECTION B, LINE 12C OFFICERS, DIRECTORS, AND KEY EMPLOYEES ARE TO INFORM THE CEO AND/OR THE CHAIRPERSON OF THE BOARD IF HE OR SHE HAS A POTENTIAL CONFLICT OF INTEREST. ANY PERSON WITH A CONFLICT WOULD BE PROHIBITED FROM PARTICIPATING IN THE DELIBERATIONS AND DECISIONS IN THE TRANSACTIONS. THE PRESIDEND/CEO IS RESPONSIBLE FOR ADMINISTRATION OF THE POLICY. THE BOARD OF DIRECTORS ARE RESPONSIBLE FOR THE ENFOREMENT OF THIS POLICY. CONFLICTS ARE DOCUMENTED IN THE BOARD MINUTES. FORM 990, PART VI, SECTION B, LINE 15A THE CEO'S COMPENSATION IS DETERMINED & APPROVED BY THE BOARD OF DIRECTORS. COMPENSATION IS COMPARED TO WAGE STUDIES PERFORMED BY THE NRECA (NATIONAL RURAL ELECTRIC COOPERATIVE ASSOCIATION). WAGES ARE COMPARED TO THE STATE AVERAGE OF THE INDUSTRY. THIS PROCESS IS DOCUMENTED IN THE BOARD MINUTES. THESE PROCESSES ARE COMPLETED ANNUALLY, LAST OCCURING IN 2022. FORM 990, PART VI, SECTION C, LINE 19 THE COOPERATIVE MAKES ITS MINUTES, BYLAWS, AND GOVERNANCE INFORMATION AVAILABLE TO THE PUBLIC BY MAKING THIS INFORMATION AVAILABLE UPON REQUEST. THE FINANCIAL STATEMENTS ARE PUBLISHED ANNUALLY AND DISTRIBUTED AT AN ANNUAL MEETING FOR MEMBERS. FORM 990, PART IX, LINE 4: THE IRS INSTRUCTIONS STATE THAT PATRONAGE DIVIDENDS PAID BY SECTION 501(C)(12) ORGANIZATIONS TO THEIR MEMBERS SHOULD BE REPORTED ON LINE 4. THE ORGANIZATION HAS INTERPRETED PATRONAGE DIVIDENDS PAID TO MEAN PATRONAGE DIVDENDS ALLOCATED OR TO BE ALLOCATED FOR THE CURRENT YEAR. SINCE THIS ALLOCATION IS NOT AN EXPENSE UNDER GENERALLY ACCEPTED ACCOUNTING PRINCIPLES (GAAP), THIS HAS RESULTED IN A RECONCILING ITEM TO NET ASSETS IN PART XI ON PAGE 12 OF THE FORM 990 AND IN PARTS XI AND XIII ON SCHEDULE D. FORM 990, PART XI, LINE 9: ATC K-1 NET INCOME ADJUSTMENT 99,645. DBS K-1 NET INCOME ADJUSTMENT 40,022. NET CHANGE IN EQUITIES FOR RETIREMENTS -451,646. NET CHANGE IN NON-OPERATING MARGINS -167,866. PATRONAGE DIVIDED ALLOCATED 1,040,420. ROUNDING -7. FORM 990, PART XII, LINE 2C: THERE HAVE BEEN NO CHANGES TO THE OVERSIGHT PROCESS. CWEC SERVICES LLC 10401 LYSTUL ROAD ROSHOLT WI 54473 760760302 GASOLINE WI 4855 168517 CENTRAL WISCONSIN ELECTRIC COOPERATIVE 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 NO TRANSACTIONS GREATER THAN 50000