P K M ELECTRIC COOPERATIVE INC: Form 990, tax year 2018
View the entire original 990 at ProPublica ↗
- Organization
- P K M ELECTRIC COOPERATIVE INC (EIN 41-0484875)
- Tax period
- 2018-01-01 to 2018-12-31
- Filed
- 2019-11-12
- IRS object ID
- 201943169349305249
- Schema version
- 2018v3.1
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2019-11-12T16:00:32-06:00 | ReturnTs |
| Tax Period End | 2018-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 450310328 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | BRADY MARTZ AND ASSOCIATES PC | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 14296 | AddressLine1Txt |
| City | GRAND FORKS | CityNm |
| State Abbreviation | ND | StateAbbreviationCd |
| ZIP | 582084296 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2018-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 410484875 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | PKM ELECTRIC COOPERATIVE INC | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | PKME | BusinessNameControlTxt |
| Phone | 2187454711 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 406 NORTH MINNESOTA STREET | AddressLine1Txt |
| City | WARREN | CityNm |
| State Abbreviation | MN | StateAbbreviationCd |
| ZIP | 56672 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | KAREN OLSON | PersonNm |
| Person Title | CFO | PersonTitleTxt |
| Phone | 2187454711 | PhoneNum |
| Signature | 2019-11-12 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | MATT LAUGHLIN | PreparerPersonNm |
| PTIN | P00014168 | PTIN |
| Phone | 7017754685 | PhoneNum |
| Preparation | 2019-11-12 | PreparationDt |
Filing Security Information FilingSecurityInformation
IP Address IPAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| I Pv4 Address | 24.111.23.187 | IPv4AddressTxt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IP | 2019-11-12 | IPDt |
| IP Tm | 14:19:10 | IPTm |
| IP Timezone | CS | IPTimezoneCd |
| Filing License Type | P | FilingLicenseTypeCd |
| At Submission Creation Device Id | 395636C0289E73AFD8F252F18F8A4C9B0684D197 | AtSubmissionCreationDeviceId |
| At Submission Filing Device Id | 6C39C89A0B916563EEFC9C4D81EC75D1023FE21F | AtSubmissionFilingDeviceId |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2018 | TaxYr |
| Build TS | 2020-04-17 16:48:07Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | KAREN OLSON | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 406 NORTH MINNESOTA STREET | AddressLine1Txt |
| City | WARREN | CityNm |
| State Abbreviation | MN | StateAbbreviationCd |
| ZIP | 56672 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $14,870,432 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | WWW.PKMCOOP.COM | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1940 | FormationYr |
| Legal Domicile State | MN | LegalDomicileStateCd |
| Activity Or Mission | SALE OF ELECTRICITY TO MEMBERS | ActivityOrMissionDesc |
| Voting Members Governing Body | 9 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 9 | VotingMembersIndependentCnt |
| Total Employee | 20 | TotalEmployeeCnt |
| Total Volunteers | 0 | TotalVolunteersCnt |
| Total Gross UBI | -$91,674 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $14,266,149 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $14,611,795 | CYProgramServiceRevenueAmt |
| PY Investment Income | $257,585 | PYInvestmentIncomeAmt |
| CY Investment Income | $259,621 | CYInvestmentIncomeAmt |
| PY Other Revenue | -$18,389 | PYOtherRevenueAmt |
| CY Other Revenue | -$57,169 | CYOtherRevenueAmt |
| PY Total Revenue | $14,505,345 | PYTotalRevenueAmt |
| CY Total Revenue | $14,814,247 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $0 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $0 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $796,602 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $872,939 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $552,581 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $413,614 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $12,917,272 | PYOtherExpensesAmt |
| CY Other Expenses | $13,325,451 | CYOtherExpensesAmt |
| PY Total Expenses | $14,266,455 | PYTotalExpensesAmt |
| CY Total Expenses | $14,612,004 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $238,890 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $202,243 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $29,999,346 | TotalAssetsBOYAmt |
| Total Assets EOY | $29,572,203 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $14,865,017 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $13,850,996 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $15,134,329 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $15,721,207 | NetAssetsOrFundBalancesEOYAmt |
| Mission | TO PROVIDE ELECTRIC SERVICE TO MEMBERS. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Desc | PROVIDE ELECTRICITY SERVICE TO 3,860 MEMBERS | Desc |
| Described In Section501c3 | 0 | DescribedInSection501c3Ind |
| Schedule B Required | 0 | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | Yes (1) | CreditCounselingInd |
| Temp Or Permanent Endowments | 0 | TempOrPermanentEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (1) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | 0 | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | 0 | GrantsToOrganizationsInd |
| Grants To Individuals | 0 | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With Officer Ent | 0 | BusinessRlnWithOfficerEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | Yes (1) | RelatedEntityInd |
| Related Organization Ctrl Ent | Yes (1) | RelatedOrganizationCtrlEntInd |
| Transaction With Control Ent | 0 | TransactionWithControlEntInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 23 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Employee | 20 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | Yes (1) | UnrelatedBusIncmOverLimitInd |
| Form990 T Filed | Yes (1) | Form990TFiledInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | 0 | QuidProQuoContributionsInd |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOfInd |
| Members And Shr Gross Income | $14,524,501 | MembersAndShrGrossIncomeAmt |
| Other Sources Gross Income | $335,609 | OtherSourcesGrossIncomeAmt |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 9 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 9 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | Yes (1) | MembersOrStockholdersInd |
| Election Of Board Members | Yes (1) | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | Yes (1) | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | 0 | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | 0 | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | MIKE SCHMIDT | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 2187454711 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 406 N MINNESOTA STREET | AddressLine1Txt |
| City | WARREN | CityNm |
| State Abbreviation | MN | StateAbbreviationCd |
| ZIP | 56762 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part VII | Yes (X) | InfoInScheduleOPartVIIInd |
Form990 Part VII Section A Form990PartVIISectionAGrp (12 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | OfficerOfficerInd |
|---|---|---|---|---|---|---|
| TOM WOINAROWICZ | ||||||
| PRESIDENT | 8.00 | Yes (X) | $7,850 | $0 | $0 | |
| MIKE BEAUDRY | ||||||
| VICE PRESIDENT | 8.00 | Yes (X) | $9,850 | $0 | $0 | |
| WAYNE MALM | ||||||
| SECRETARY TREASURER | 8.00 | Yes (X) | $8,450 | $0 | $0 | |
| STEVE GOODWIN | ||||||
| DIRECTOR | 7.00 | Yes (X) | $7,000 | $0 | $0 | |
| BLAKE OWENS | ||||||
| DIRECTOR | 7.00 | Yes (X) | $8,500 | $0 | $0 | |
| PAUL AAKRE | ||||||
| DIRECTOR | 7.00 | Yes (X) | $9,250 | $0 | $0 | |
| JEFF FOLLAND | ||||||
| DIRECTOR | 7.00 | Yes (X) | $7,500 | $0 | $0 | |
| MARK HATTON | ||||||
| DIRECTOR | 7.00 | Yes (X) | $11,750 | $0 | $0 | |
| CHRIS MORTENSON | ||||||
| DIRECTOR | 7.00 | Yes (X) | $6,750 | $0 | $0 | |
| GORDON BERNSTROM | ||||||
| SECRETARY TREASURER | 8.00 | Yes (X) | $4,175 | $0 | $0 | |
| MIKE SCHMIDT | ||||||
| CEO | 40.00 | $132,985 | $0 | $77,792 | Yes (X) | |
| KAREN OLSON | ||||||
| CFO | 40.00 | $74,451 | $0 | $68,537 | Yes (X) | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $288,511 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $146,329 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 1 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp
Contractor Name ContractorName
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | OLSON UNDERGROUND INC | BusinessNameLine1Txt |
Contractor Address ContractorAddress
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 22593 US HWY 75 | AddressLine1Txt |
| City | WARREN | CityNm |
| State Abbreviation | MN | StateAbbreviationCd |
| ZIP | 56762 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Services | INSTALLATION OF UNDERGROUND UTILITES | ServicesDesc |
| Compensation | $106,058 | CompensationAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 1 | CntrctRcvdGreaterThan100KCnt |
Program Service Revenue ProgramServiceRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | SALE OF ELECTRICITY | Desc |
| Business | 221000 | BusinessCd |
| Total Revenue Column | $14,611,795 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $14,611,795 | RelatedOrExemptFuncIncomeAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $14,611,795 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $259,621 | TotalRevenueColumnAmt |
| Exclusion | $259,621 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Sales Of Inventory | $36,603 | GrossSalesOfInventoryAmt |
| Cost Of Goods Sold | $56,185 | CostOfGoodsSoldAmt |
Net Income Or Loss NetIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -$19,582 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | -$19,582 | RelatedOrExemptFuncIncomeAmt |
Other Revenue Misc OtherRevenueMiscGrp (3 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt | Unrelated Business RevenueUnrelatedBusinessRevenueAmt |
|---|---|---|---|---|
| CAPITAL CREDITS | 900099 | $54,087 | $54,087 | |
| FEDERATED ACQUISITIONS K-1 | 541900 | -$154 | -$154 | |
| KARIAN K-1 | 541900 | -$91,520 | -$91,520 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | -$37,587 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $14,814,247 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $14,646,300 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | -$91,674 | UnrelatedBusinessRevenueAmt |
| Exclusion | $259,621 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part IX | Yes (X) | InfoInScheduleOPartIXInd |
Benefits To Members BenefitsToMembersGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $872,939 | TotalAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $413,614 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $566,669 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $915,636 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| COST OF POWER PURCHASED | $9,683,006 |
| DISTRIBUTION EXPENSE | $1,190,160 |
| ALL OTHER EXPENSES | $494,980 |
| ADMINISTRATIVE & GENERA | $475,000 |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $14,612,004 | TotalAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,417,068 | BOYAmt |
| EOY | $2,328,969 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,649,253 | BOYAmt |
| EOY | $1,891,658 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $125,559 | BOYAmt |
| EOY | $275,383 | EOYAmt |
Inventories For Sale Or Use InventoriesForSaleOrUseGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $674,137 | BOYAmt |
| EOY | $611,305 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $154,597 | BOYAmt |
| EOY | $100,914 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $35,749,674 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $13,318,707 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $21,955,343 | BOYAmt |
| EOY | $22,430,967 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $700,227 | BOYAmt |
| EOY | $593,072 | EOYAmt |
Investments Program Related InvestmentsProgramRelatedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,318,976 | BOYAmt |
| EOY | $1,330,806 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,186 | BOYAmt |
| EOY | $9,129 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $29,999,346 | BOYAmt |
| EOY | $29,572,203 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,809,561 | BOYAmt |
| EOY | $1,432,740 | EOYAmt |
Escrow Account Liability EscrowAccountLiabilityGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,035 | BOYAmt |
| EOY | $1,502 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $12,868,936 | BOYAmt |
| EOY | $12,199,004 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $185,485 | BOYAmt |
| EOY | $217,750 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $14,865,017 | BOYAmt |
| EOY | $13,850,996 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Org Does Not Follow SFAS117 | Yes (X) | OrgDoesNotFollowSFAS117Ind |
Cap Stk Tr Prin Current Funds CapStkTrPrinCurrentFundsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Pd In Cap Srpls Land Bldg Eqp Fund PdInCapSrplsLandBldgEqpFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $19,240 | BOYAmt |
| EOY | $19,430 | EOYAmt |
Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $15,115,089 | BOYAmt |
| EOY | $15,701,777 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $15,134,329 | BOYAmt |
| EOY | $15,721,207 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $29,999,346 | BOYAmt |
| EOY | $29,572,203 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $202,243 | ReconcilationRevenueExpnssAmt |
| Other Changes In Net Assets | $384,635 | OtherChangesInNetAssetsAmt |
| Info In Schedule O Part XII | Yes (X) | InfoInScheduleOPartXIIInd |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Agent Trustee Etc | 0 | AgentTrusteeEtcInd |
| Incl Escrow Custodial Acct Liab | Yes (1) | InclEscrowCustodialAcctLiabInd |
| Explanation Provided | Yes (X) | ExplanationProvidedInd |
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $141,324 | OtherCostOrOtherBasisAmt |
| Book Value | $141,324 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $995,253 | OtherCostOrOtherBasisAmt |
| Depreciation | $599,311 | DepreciationAmt |
| Book Value | $395,942 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $34,081,509 | OtherCostOrOtherBasisAmt |
| Depreciation | $12,719,396 | DepreciationAmt |
| Book Value | $21,362,113 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $531,588 | OtherCostOrOtherBasisAmt |
| Book Value | $531,588 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $22,430,967 | TotalBookValueLandBuildingsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (2 entries)
| DescDesc | AmtAmt |
|---|---|
| CONSUMER DEPOSITS | $15,250 |
| CONSUMER ENERGY PREPAYMENTS | $202,500 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $217,750 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $14,771,270 | TotalRevEtcAuditedFinclStmtAmt |
| Other Revenue | -$42,977 | OtherRevenueAmt |
| Revenue Not Reported | -$42,977 | RevenueNotReportedAmt |
| Revenue Subtotal | $14,814,247 | RevenueSubtotalAmt |
| Revenue Not Reported Fincl Stmt | $0 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $14,814,247 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $13,738,856 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Not Reported | $0 | ExpensesNotReportedAmt |
| Expenses Subtotal | $13,738,856 | ExpensesSubtotalAmt |
| Other Expenses Not Included | $873,148 | OtherExpensesNotIncludedAmt |
| Expenses Not Rpt Fincl Stmt | $873,148 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $14,612,004 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (4 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART IV, LINE 2B: | THE MEMBERS OF THE COOPERATIVE CAN ELECT TO ROUND UP THEIR MONTHLY ELECTRIC BILL TO THE NEXT DOLLAR. THESE FUNDS COLLECTED FROM THE MEMBERSHIP ARE HELD IN A COOPERATIVE ACCOUNT UNTIL THEY ARE RELEASED TO THE PKM ELECTRIC COOPERATIVE TRUST'S OPERATION ROUND-UP PROGRAM. THESE FUNDS ARE TRANSFERRED DIRECTLY TO THE OPERATION ROUND-UP ON A MONTHLY BASIS. FUNDS THAT EXIST AT THE END OF THE YEAR ARE A RESULT OF A TIMING DIFFERENCE IN THE RECEIPT OF THE FUNDS AND THE RELEASE OF THEM TO THE OPERATION ROUND-UP. FOR THE YEAR ENDED DECEMBER 31, 2018, THE ACCOUNT HELD $1,502. |
| PART X, LINE 2: | THE COOPERATIVE IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(12) OF THE INTERNAL REVENUE CODE. THE COOPERATIVE'S POLICY IS TO EVALUATE THE LIKELIHOOD THAT ITS UNCERTAIN TAX POSITIONS WILL PREVAIL UPON EXAMINATION BASED ON THE EXTENT TO WHICH THOSE POSITIONS HAVE SUBSTANTIAL SUPPORT WITHIN THE INTERNAL REVENUE CODE AND REGULATIONS, REVENUE RULINGS, COURT DECISIONS AND OTHER EVIDENCE. IT IS THE OPINION OF MANAGEMENT THAT THE COOPERATIVE HAS NO SIGNIFICANT UNCERTAIN TAX POSITIONS THAT WOULD BE SUBJECT TO CHANGE UPON EXAMINATION. THE INCOME TAX RETURNS OF THE COOPERATIVE ARE SUBJECT TO EXAMINATION BY THE IRS AND STATE TAX AUTHORITIES, GENERALLY FOR THREE YEARS AFTER THEY WERE FILED. |
| PART XI, LINE 2D - OTHER ADJUSTMENTS: | INCOME ON INVESTMENT IN LLCS -42,977. |
| PART XII, LINE 4B - OTHER ADJUSTMENTS: | CHARITABLE CONTRIBUTIONS ON K-1 FROM KARIAN PETERSON 211. ALLOCATED CAPITAL CREDITS 872,937. |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Compensation Committee | Yes (X) | CompensationCommitteeInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | 0 | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | MIKE SCHMIDT | PersonNm |
| Title | CEO | TitleTxt |
| Base Compensation Filing Org | $129,581 | BaseCompensationFilingOrgAmt |
| Compensation Based On Rltd Orgs | $0 | CompensationBasedOnRltdOrgsAmt |
| Bonus Filing Organization | $0 | BonusFilingOrganizationAmount |
| Bonus Related Organizations | $0 | BonusRelatedOrganizationsAmt |
| Other Compensation Filing Org | $3,404 | OtherCompensationFilingOrgAmt |
| Other Compensation Rltd Orgs | $0 | OtherCompensationRltdOrgsAmt |
| Deferred Compensation Flng Org | $51,173 | DeferredCompensationFlngOrgAmt |
| Deferred Comp Rltd Orgs | $0 | DeferredCompRltdOrgsAmt |
| Nontaxable Benefits Filing Org | $27,975 | NontaxableBenefitsFilingOrgAmt |
| Nontaxable Benefits Rltd Orgs | $0 | NontaxableBenefitsRltdOrgsAmt |
| Total Compensation Filing Org | $212,133 | TotalCompensationFilingOrgAmt |
| Total Compensation Rltd Orgs | $0 | TotalCompensationRltdOrgsAmt |
| Comp Report Prior990 Filing Org | $0 | CompReportPrior990FilingOrgAmt |
| Comp Report Prior990 Rltd Orgs | $0 | CompReportPrior990RltdOrgsAmt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | FORM 990, SCHEDULE J, PART II, COLUMN C | FormAndLineReferenceDesc |
| Explanation | ON THE SCHEDULE OF OFFICERS, DIRECTORS, TRUSTEES, KEY EMPLOYEES, AND HIGHEST COMPENSATED EMPLOYEES, COLUMN C, RETIREMENT AND OTHER DEFERRED COMPENSATION, INCLUDES THE ESTIMATED CURRENT YEAR INCREASE IN THE ACTUARIAL VALUE OF THE DEFINED BENEFIT PLAN. THESE AMOUNTS DO NOT REPRESENT ANY CURRENT YEAR CONTRIBUTIONS TO THE PLAN. THEY ARE ESTIMATES OF THE INCREASE IN THE ACTUARIAL VALUE OF THE PLANS RECEIVED FROM THE NRECA. THE CURRENT YEAR EXPENSE AND THE INCREASE IN ACTUARIAL VALUE FOR EACH EMPLOYEE ARE REFLECTED IN THE SCHEDULE O STATEMENT FOR FORM 990, PART VII, COLUMN F. | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (12 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 6 | THERE IS ONLY ONE CLASS OF MEMBERS. ANY PERSON, FIRM, CORPORATION OR BODY POLITIC MAY BECOME A MEMBER BY (A) PAYING THE PAR VALUE FOR ONE SHARE OF STOCK, (B) AGREEING TO PURCHASE ELECTRIC ENERGY FROM THE COOPERATIVE, (C) AGREEING TO COMPLY WITH AND BE BOUND BY THE ARTICLES OF INCORPORATION AND BYLAWS |
| FORM 990, PART VI, SECTION A, LINE 7A | EVERY MEMBER HAS ONE VOTING RIGHT AT THE ANNUAL MEETING TO VOTE ON THE SELECTION OF OFFICERS. |
| FORM 990, PART VI, SECTION A, LINE 7B | EVERY MEMBER HAS ONE VOTING RIGHT ON THE APPROVAL OF CHANGES TO THE ORGANIZATION DOCUMENTS AT THE ANNUAL MEETING. THE SALE, LEASE, OR EXCHANGE OF ALL THE COOPERATIVE'S PROPERTY, RIGHTS, PRIVILEGES, AND FRANCHISES MUST BE APPROVED BY 2/3 VOTE OF THE MEMBERS. |
| FORM 990, PART VI, SECTION A, LINE 8B | THERE ARE NO COMMITTEES THAT CAN ACT ON BEHALF OF THE GOVERNING BOARD. ALL COMMITTEES MAKE ONLY RECOMMENDATIONS TO THE GOVERNING BOARD WHICH THEN MAKES THE FINAL APPROVAL. |
| FORM 990, PART VI, SECTION B, LINE 11B | THE MANAGER WILL REVIEW THE FINAL FORM 990. THE FORM 990 WILL BE PROVIDED TO THE BOARD FOR REVIEW ELECTRONICALLY PRIOR TO THE BOARD MEETING. THE MANAGER WILL ALSO PRESENT THE FORM 990 TO THE THE FULL GOVERNING BOARD AT A BOARD MEETING. |
| FORM 990, PART VI, SECTION B, LINE 12C | THE CONFLICT OF INTEREST POLICY, WHICH COVERS THE BOARD OF DIRECTORS AND OFFICERS OF THE COOPERATIVE, IS DISCUSSED AT A BOARD MEETING. THE MANAGER AND ASSISTANT MANAGER REVIEW ANY CONFLICTS THAT NEED TO BE DISCLOSED. IF A CONFLICT ARISES, IT IS BROUGHT TO THE BOARD'S ATTENTION AND THE INDIVIDUAL WITH THE CONFLICT ABSTAINS FROM VOTING ON THAT ISSUE. |
| FORM 990, PART VI, SECTION B, LINE 15A | THE BOARD MEMBERS, WHO ARE INDEPENDENT, REVIEW AND APPROVE THE COMPENSATION OF THE MANAGER BY USING COMPARABILITY DATA ONLY. THE APPROVAL IS RECORDED IN THE BOARD MINUTES. THE BOARD MEMBERS ALSO APPROVE THEIR OWN ADJUSTMENTS TO THEIR COMPENSATION BASED ON COMPARABILITY DATA ONLY. ALL OTHER PAID EMPLOYEES' COMPENSATION IS REVIEWED AND APPROVED BY THE MANAGER. THIS PROCESS IS CONDUCTED EVERY OCTOBER. |
| FORM 990, PART VI, SECTION C, LINE 19 | THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. THE FINANCIAL STATEMENTS ARE AVAILABLE IN THE MONTHLY NEWSLETTER AND EVERY MEMBER IS GIVEN A COPY OF THE GOVERNING DOCUMENTS WHEN THEY BECOME MEMBERS. |
| FORM 990, PART VII, SECTION A, COLUMN (F) | INCLUDED IN COLUMN (F), ESTIMATED AMOUNT OF OTHER COMPENSATION FROM THE ORGANIZATION AND RELATED ORGANIZATIONS, IS THE ESTIMATED ANNUAL INCREASE IN THE ACTUARIAL VALUE OF THE DEFINED BENEFIT PLAN. THE ESTIMATED INCREASE FOR KAREN OLSON IS $50,535 AND FOR MIKE SCHMIDT IS $36,873. THESE AMOUNTS ARE ESTIMATES IN THE INCREASE OF THE VALUE OF THE PLAN AND ARE NOT CURRENT YEAR EXPENSES OF THE COOPERATIVE. THE CURRENT YEAR EXPENSE FOR THIS DEFINED BENEFIT PLAN WAS $24,452 AND $41,730 RESPECTIVELY. |
| FORM 990, PART IX, LINE 4: PATRONAGE DIVIDENDS PAID | FORM 990, PART IX, LINE 4 (BENEFITS PAID TO OR FOR MEMBERS) INCLUDES PATRONAGE DIVIDENDS PAID. THIS AMOUNT IS AN EXPENSE FOR PURPOSES OF FORM 990, BUT IS NOT RECOGNIZED AS AN EXPENSE UNDER G.A.A.P. REPORTING REQUIREMENTS, WHICH ARE USED FOR BOOK INCOME. THE RESULT IS A BOOK TO TAX DIFFERENCE WHICH IS DISCLOSED ON PART XI AND ON SCHEDULE D PARTS XI AND XIII. IN REFERENCE TO FORM 990, PART IX, LINE 4, THE COOPERATIVE HAS INTERPRETED "PATRONAGE DIVIDENDS PAID" AS CAPITAL CREDITS ALLOCATED TO MEMBERS UNDER THE PREEXISTING OBLIGATIONS PURSUANT TO THE BYLAWS OF THE COOPERATIVE. |
| FORM 990, PART XI, LINE 9: | RETIREMENT OF CAPITAL CREDITS -445,729. LLC'S INCOME - PER BOOKS -32,655. LLC INCOME PER K-1'S AND FORM 990 -10,110. OTHER INCREASE IN MEMBERSHIP INCOME 190. ALLOCATION OF CAPITAL CREDITS 872,939. |
| FORM 990, PART XII, LINE 2C: | THERE HAVE BEEN NO CHANGES TO THE COOPERATIVE'S OVERSIGHT RESPONSIBILITIES THIS YEAR. |
Schedule R IRS990ScheduleR
Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp
Disregarded Entity Name DisregardedEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | PKM ELECTRIC COOPERATIVE TRUST | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 406 NORTH MINNESOTA STREET | AddressLine1Txt |
| City | WARREN | CityNm |
| State Abbreviation | MN | StateAbbreviationCd |
| ZIP | 56762 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 311529073 | EIN |
| Primary Activities | COLLECT & DISBURSE FUNDS FOR CHARITABLE PURPOSES | PrimaryActivitiesTxt |
| Legal Domicile State | MN | LegalDomicileStateCd |
| Exempt Code Section | 501(C)(3) | ExemptCodeSectionTxt |
| Public Charity Status | 7 | PublicCharityStatusTxt |
Direct Controlling Entity Name DirectControllingEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | PKM ELECTRIC COOPERATIVE INC | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Controlled Organization | Yes (1) | ControlledOrganizationInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | 0 | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | 0 | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | 0 | GiftGrntCapContriFromOthOrgInd |
| Loans Or Guarantees To Other Org | 0 | LoansOrGuaranteesToOtherOrgInd |
| Loans Or Guarantees From Oth Org | 0 | LoansOrGuaranteesFromOthOrgInd |
| Div Related Organization | 0 | DivRelatedOrganizationInd |
| Asset Sale To Other Org | 0 | AssetSaleToOtherOrgInd |
| Asset Purchase From Other Org | 0 | AssetPurchaseFromOtherOrgInd |
| Asset Exchange | 0 | AssetExchangeInd |
| Rental Of Facilities To Oth Org | 0 | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | 0 | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | 0 | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | 0 | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | 0 | SharingOfFacilitiesInd |
| Paid Employees Sharing | 0 | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | 0 | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | 0 | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | Yes (1) | TransferToOtherOrgInd |
| Transfer From Other Org | 0 | TransferFromOtherOrgInd |
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