2019-11-15T15:54:10-06:00 2018-12-31 410746479 CLIFTONLARSONALLEN LLP 2689 COMMERCE DRIVE NW SUITE 201 ROCHESTER MN 55901 990 2018-01-01 390783977 CENTRAL WISCONSIN ELECTRIC COOPERATIVE CENT 7156772211 PO BOX 100 ROSHOLT WI 54473 MICHAEL WADE PRESIDENT/CEO 7156772211 2019-11-15 1 CRAIG POPENHAGEN P01587689 5072802300 2019-11-14 67.137.57.251 2019-11-15 14:04:40 CS P 2AEB61507DCC7F9CD840C370178C53350C3F626D 6D81EDFA6B22A5FABEAF7AC11E4673F17E810770 2018 2020-04-17 16:48:07Z MICHAEL WADE PO BOX 100 ROSHOLT WI 54473 16342261 0 X HTTP://WWW.CWECOOP.COM/ X 1938 WI TO PROVIDE RELIABLE ELECTRIC ENERGY AND RELATED SERVICES TO MEMBERS UNDER COOPERATIVE PRINCIPLES. 7 1 27 0 -41231 0 0 0 15885844 16150868 51383 208208 -59749 -70754 15877478 16288322 0 0 0 672632 0 293311 0 0 0 15460224 15665846 15460224 16631789 417254 -343467 60704365 60148196 41820962 40782077 18883403 19366119 THE MISSION OF CENTRAL WISCONSIN ELECTRIC COOPERATIVE IS 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 THE COOPERATIVE SOLD 104,591,135 KWH OF ELECTRICITY TO MEMBERS DURING 2018. 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 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 1 8 0 27 1 1 1 0 0 0 0 16110177 12708 0 0 0 X 7 1 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X LILA SHOWER 7156772211 10401 LYSTUL ROAD ROSHOLT WI 54473 ANTHONY BUSS JR CHAIRMAN 12.30 X X 13100 0 0 TOM SMITH VICE CHAIRMAN 11.40 X X 11350 0 0 ELAINE ECKENDORF SECRETARY/TREASURER 14.80 X X 11100 0 0 SUE ROMBALSKI DIRECTOR 10.40 X 10800 0 0 LEE LEHRER DIRECTOR 5.80 X 9750 0 0 RON ONESTI DIRECTOR 7.30 X 10150 0 0 LEONARD OPPER DIRECTOR 6.90 X 12550 0 0 MICHAEL L WADE PRESIDENT/CEO 50.00 X 154026 0 60485 KEVIN KURZWEIL VP OF OPERATIONS AND ENGIN 50.00 X 104325 0 50129 337151 0 110614 2 0 1 0 ASPLUNDTH TREE EXPERT PO BOX 827464 PHILADEPHIA PA 19182 BRUSH & SPRAYING 296367 AJ CONSTRUCTION 3532 PLAYBIRD ROAD SHEBOYGAN WI 53083 CABLE TRENCHING 133190 2 SALE OF POWER 221000 16150868 16150868 16150868 207734 207734 18158 37410 -19252 -19252 -30420 11168 474 0 474 474 474 7931 16529 -8598 -8598 CAPITAL CREDITS 523000 181223 181223 DBS K-1 INCOME 900099 -2213 -2213 ATC, K-1 INCOME 900099 -221914 -221914 -42904 16288322 16110177 -41231 219376 X 672632 293311 1585333 2032420 COST OF POWER 7829649 MAINTENANCE EXPENSE 1242649 OPERATIONS EXPENSE 1012975 ADMINISTRATIVE & GENERA 939013 1023807 16631789 2964217 1269594 2424972 2075643 1163925 1184338 368933 369621 759611 4456527 60203448 18178651 43044751 42024797 502423 869323 9466971 7897695 8562 658 60704365 60148196 1465928 1661047 7890000 7710000 32317616 30988579 147418 422451 41820962 40782077 X 0 0 2335423 2531602 16547980 16834517 18883403 19366119 60704365 60148196 X -343467 826183 X X 0 1 X 1 0 224098 224098 1093443 4940673 1408367 4625749 77061 53868173 16770284 37174950 42024797 INVESTMENTS IN NRUCFC NOTES 2631540 C INVESTMENT IN ATC, LLC 2676473 C OTHER ASSOCIATED ORGANIZATIONS 1667682 C CFC COMMERCIAL PAPER 922000 C 7897695 CUSTOMER DEPOSITS 55118 OTHER LIABILITIES 367333 422451 X 16732796 451507 451507 16281289 7033 7033 16288322 15952124 0 15952124 679665 679665 16631789 PART X, LINE 2: THE COOPERATIVE IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(12) OF THE INTERNAL REVENUE CODE (IRC). CWEC SERVICES, LLC IS A TAXABLE CORPORATION, AND HAD A NET INCOME OF $4,855 FOR THE YEAR ENDED DECEMBER 31, 2018. THERE IS NO PROVISION FOR INCOME TAXES AT DECEMBER 31, 2018 AND 2017. THE COOPERATIVE AND ITS SUBSIDIARY EVALUATED THEIR TAX POSITIONS AND DETERMINED THAT THERE ARE NO UNCERTAIN TAX POSITIONS AS OF DECEMBER 31, 2018 AND 2017. PART XI, LINE 2D - OTHER ADJUSTMENTS: ATC K-1 ADJUST TO TAX NET LOSS 449,294. DBS K-1 ADJUST TO TAX NET LOSS 2,213. PART XI, LINE 4B - OTHER ADJUSTMENTS: RECLASSIFIED EXPENSES 7,033. PART XII, LINE 4B - OTHER ADJUSTMENTS: RECLASSIFIED EXPENSES 7,033. PATRONAGE DIVIDENDS ALLOCATED 672,632. X 0 0 0 MICHAEL L WADE PRESIDENT/CEO 154026 0 0 0 0 0 29544 0 30941 0 214511 0 0 0 KEVIN KURZWEIL VP OF OPERATIONS AND ENGIN 104325 0 0 0 0 0 19589 0 30540 0 154454 0 0 0 PART I, LINE 3 THE CEO'S COMPENSATION IS DETERMINED 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. A PUBLIC FINANCE AUTHORITY 273866124 976831AT4 2010-12-15 8870341 OFFICE AND ELECTRIC 0 0 0 A 1290000 8870341 175940 1467 8692934 2014 0 0 0 1 A 0 0 0 0 0 0 0 A 0 0 0 0 0 0 0 0 0 A 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 B, LINE 11B THE 990 IS REVIEWED BY THE CEO AND THE VICE PRESIDENT OF FINANCE. THE VICE PRESIDENT OF FINANCE PRESENTS THE SIGNED 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 VERBALLY 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 POLICY IS REVIEWED BY THE ADMINISTRATOR. FORM 990, PART VI, SECTION B, LINE 15 THE CEO'S COMPENSATION IS DETERMINED 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. OTHER OFFICER'S COMPENSATION IS DETERMINED BY THE CEO THROUGH COMPARISONS TO THE STATE AVERAGE OF THE INDUSTRY. THE CEO REFERENCES A WAGE STUDY SPECIFIC TO THE ELECTRIC COOPERATIVES IN THE STATE OF WISCONSIN. THIS PROCESS IS DOCUMENTED IN THE EMPLOYEE'S PERSONNEL FILE. 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: NET CHANGE IN EQUITIES FOR RETIREMENTS -332,551. ATC K-1 NET LOSS ADJUSTMENT 449,294. CHANGE IN MEMBERSHIPS -50. OTHER EQUITY CHANGES 34,645. DBS K-1 LOSS 2,213. PATRONAGE DIVIDENDS ALLOCATED 672,632. 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 234733 CENTRAL WISCONSIN ELECTRIC COOPERATIVE