2022-05-13T08:00:09-07:00 2021-12-31 990 2021-01-01 390154234 BAYFIELD ELECTRIC COOPERATIVE BAYF 7153724287 PO BOX 68 IRON RIVER WI 54847 Sara Anderson Chief Financial Officer 7153724287 2022-05-12 1 11 0 AAL2 2021 2022-09-23 18:48:47Z Bayfield Electric Cooperative PO Box 68 Iron River WI 54847 14541507 0 X www.bayfieldelectric.com X 1940 WI Electric Energy Distribution 9 9 22 0 0 0 0 507909 14515674 13597203 18199 19535 314668 416860 14848541 14541507 0 0 451931 336033 2202716 2234845 0 0 0 12128521 11834035 14783168 14404913 65373 136594 41394369 40468234 27489375 26557535 13904994 13910699 Committed to provide safe, reliable and affordable electricity to rural areas through superior customer service, along with values of integrity-innovation-accountability-commitment to community. 0 0 14404913 To provide electrical energy to its members 0 0 0 14404913 0 0 0 0 0 0 0 0 0 1 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 18 0 22 1 0 0 0 0 0 14092864 12248 0 0 0 X 9 9 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 0 0 WI X Sara Anderson 7153724287 68460 District Street Iron River WI 54847 Sara Anderson CFO 40 X X 121774 0 52672 Robert Lahti Operations Manager 40 X 116463 0 50847 Christopher Kopel CEO 40 X X 112500 0 41787 Diane Berweger CEO 48 X X X 132448 0 20382 Kenneth Koosman Lineman 46.83 X 111033 0 39351 Jacob Hipsher Member Service Director 40 X X 104017 0 46298 Keith Kavajecz Lineman 45.56 X 106685 0 37970 Dustin McKay Lineman 45.75 X 103670 0 37972 Adam Waddle Lineman 45.48 X 102382 0 38520 Keith Klobucher Lineman 44.65 X 102841 0 37971 Elliot Powers Lineman 45.30 X 101740 0 37965 Frank Polkoski Line Foreman 44.14 X 111241 0 27871 Troy Seeger Line Foreman 45.33 X 118388 0 16993 Matthew Tarasewicz Lineman 47.47 X 112819 0 14440 Blake Reijo Lineman 44.58 X 101672 0 14536 Barry Radloff Director 4.65 8 X 7100 20808 0 Mark Santikko President 5.96 X 9450 0 0 James Kinzie Director 5.52 X 6600 0 0 Russell Bailey Vice President 3.9 X 6600 0 0 Curtis Berweger Secretary/Treasurer 3.94 0 X 6350 0 0 Carl Schutte Director 4.35 X 6350 0 0 Robert Kretzschmar Director 3.67 X 6100 0 0 Jeffrey Moravchik Director 4.55 X 3750 0 0 Michael Neslon Director 3.78 X 3350 0 0 Roy Settgas Director 3.39 X 2600 0 0 Kenneth Clement Director 5.5 0 X 2000 0 0 1719923 20808 515575 15 1 1 1 Northern Clearing 28190 State Hwy 137 Ashland WI 54806 Right-away clearing 724978 RESCO PO Box 684141 Chicago IL 60695 Material purchases 541215 PUSH Incorporated 1100 Lindy St Rice Lake WI 54868 URD installation 132477 3 X 0 0 0 0 507909 0 0 507909 Operating Revenue 221122 13597203 13597203 0 0 0 0 0 0 13597203 19535 19535 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Non-operating revenue 221122 44093 44093 0 0 Capital Credit Patronage 221122 372767 372767 0 0 0 0 0 0 416860 14541507 14033598 0 0 336033 336033 1765537 1765537 316477 316477 152831 152831 29909 29909 25455 25455 31862 31862 29581 29581 186829 186829 761248 761248 2558989 2558989 Gross Revenue Tax 260426 260426 0 Cost of Power 6141515 6141515 0 0 Misc 1808221 1808221 0 0 14404913 14404913 0 0 1736444 1996881 12560 1442 2035506 1517249 421396 413023 336390 247213 60679983 30787217 30695396 29892766 6156677 6399660 41394369 40468234 847522 728066 25090803 23775495 1551050 2053974 27489375 26557535 X 41410 41850 0 0 13863584 13868849 13904994 13910699 41394369 40468234 X 136594 0 0 0 0 -130889 X 1 1 0 0 130282 0 130282 5511726 0 686128 4825598 0 0 0 0 52834374 0 28543897 24290477 2203601 0 1557192 646409 29892766 Non-Utility Property 133753 Investment in Associated Organizations-Patronage Capital 5439437 Investment in Associated Organizations - other Non-general Funds 548451 Investments in Economic Development Projects 21050 Other Investments 256969 6399660 Consumer Deposits 67949 Other Current and Accrued Liabilities 537365 Accumulated Employee Benefits 381751 Other Deferred Credits 1066909 2053974 X 14105112 0 0 0 0 0 14105112 0 436395 436395 14541507 14404913 0 0 0 0 0 14404913 0 0 0 14404913 Schedule D, Part X, Line 2 The Cooperative has evaluated its income tax position and determined that they have no uncertain tax positions that need to be recorded or reported in the financial statements at December 31, 2021 and 2021. Schedule D, Part XI, Line 4b Capital Credits $372,767 plus Nonoperating Margins of Interest Income $19,535 plus other Nonoperating Income of $44,093 for a total of $436,095. X X 0 0 0 Diane Berweger CEO 132448 0 0 0 0 0 15500 0 4882 0 152830 0 0 0 Schedule J, Part I, Line 3 The cooperative had a CEO which retired on April 30, 2021. This CEO, Diane Berweger, did not have a written contract. The cooperative board hired a new CEO under written contract May 3, 2021, Christopher Kopel. Barry Radloff Director 6141515 Purchase Power 0 Schedule L, Part I, Line 1 Barry Radloff, a Director for Dairyland Power Cooperative is a Board Member with Bayfield Electric Cooperative. Form 990, Part VI, Section A, Line 6 The organization is a cooperative and has memberships. The cooperative association is organized without capital stock and is only one class of members with respects to voting interests. Form 990, Part VI, Section A, Line 7a The members from within each district of the cooperative shall elect a director to serve a three year term commencing at the date of the annual meeting of the members. Each year three of the nine districts are up for re-election. Form 990, Part VI, Section A, Line 7b Each active membership shall be entitled to one vote for the voting needs at the member's annual meeting held within the guidelines of the bylaws each year. Form 990, Part VI, Section B, Line 11b The process used by the organization to review the Form 990 occurs annually, at a board meeting when the entire board will review and discuss the return. Form 990, Part VI, Section B, Line 12c The written conflict of interest policy is review annually at a board meeting. If any board members have a conflict throughout the year, it is their duty to abstain from voting on a matter and notify the board it is due to a conflict. Form 990, Part VI, Section B, Line 15 The process used to determine compensation of the top official and officers is to review the compensation and goals met by personnel and discuss in an executive session of the board. At this time the current board only reviews the CEO's compensation. Form 990, Part VI, Section C, Line 19 The organization makes its governing documents, conflict of interest policy and financial statements available upon request. Form 990, Part VIII, Line 1f Wisconsin State Mitigation FEMA funds were received in 2021. Form 990, Part XI, Line 9 Includes a change in Comprehensive Income of -$131,329 and the addition of the change in new membership of $440 for a total of -$130,889 in other changes in Net Income.