P K M ELECTRIC COOPERATIVE INC: Form 990, tax year 2017

View the entire original 990 at ProPublica ↗

Organization
P K M ELECTRIC COOPERATIVE INC (EIN 41-0484875)
Tax period
2017-01-01 to 2017-12-31
Filed
2018-11-09
IRS object ID
201843139349301839
Schema version
2017v2.3
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

FieldValueIRS element (for citing)
Return2018-11-09T14:18:30-06:00ReturnTs
Tax Period End2017-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN450310328PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1BRADY MARTZ AND ASSOCIATES PCBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line1PO BOX 14296AddressLine1Txt
CityGRAND FORKSCityNm
State AbbreviationNDStateAbbreviationCd
ZIP582084296ZIPCd
FieldValueIRS element (for citing)
Return Type990ReturnTypeCd
Tax Period Begin2017-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN410484875EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1PKM ELECTRIC COOPERATIVE INCBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name ControlPKMEBusinessNameControlTxt
Phone2187454711PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1406 NORTH MINNESOTA STREETAddressLine1Txt
CityWARRENCityNm
State AbbreviationMNStateAbbreviationCd
ZIP56672ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonMIKE SCHMIDTPersonNm
Person TitleCEOPersonTitleTxt
Phone2187454711PhoneNum
Signature2018-11-02SignatureDt
Discuss With Paid PreparerYes (1)DiscussWithPaidPreparerInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonMATT LAUGHLINPreparerPersonNm
PTINP00014168PTIN
Phone7017754685PhoneNum
Preparation2018-10-29PreparationDt

Filing Security Information FilingSecurityInformation

IP Address IPAddress

FieldValueIRS element (for citing)
I Pv4 Address24.111.23.187IPv4AddressTxt
FieldValueIRS element (for citing)
IP2018-11-02IPDt
IP Tm09:23:38IPTm
IP TimezoneCDIPTimezoneCd
Filing License TypePFilingLicenseTypeCd
At Submission Creation Device Id395636C0289E73AFD8F252F18F8A4C9B0684D197AtSubmissionCreationDeviceId
At Submission Filing Device Id6C39C89A0B916563EEFC9C4D81EC75D1023FE21FAtSubmissionFilingDeviceId
FieldValueIRS element (for citing)
Tax2017TaxYr
Build TS2019-02-21 02:37:17ZBuildTS

Form 990 IRS990

FieldValueIRS element (for citing)
Principal OfficerMIKE SCHMIDTPrincipalOfficerNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line1406 NORTH MINNESOTA STREETAddressLine1Txt
CityWARRENCityNm
State AbbreviationMNStateAbbreviationCd
ZIP56672ZIPCd
FieldValueIRS element (for citing)
Gross Receipts$14,566,967GrossReceiptsAmt
Group Return For Affiliates0GroupReturnForAffiliatesInd
Organization501cYes (X)Organization501cInd
Website AddressWWW.PKMCOOP.COMWebsiteAddressTxt
Type Of Organization CorpYes (X)TypeOfOrganizationCorpInd
Formation1940FormationYr
Legal Domicile StateMNLegalDomicileStateCd
Activity Or MissionSALE OF ELECTRICITY TO MEMBERSActivityOrMissionDesc
Voting Members Governing Body9VotingMembersGoverningBodyCnt
Voting Members Independent9VotingMembersIndependentCnt
Total Employee20TotalEmployeeCnt
Total Volunteers0TotalVolunteersCnt
Total Gross UBI-$63,372TotalGrossUBIAmt
Net Unrelated Bus Txbl Incm-$63,372NetUnrelatedBusTxblIncmAmt
PY Contributions Grants$0PYContributionsGrantsAmt
CY Contributions Grants$0CYContributionsGrantsAmt
PY Program Service Revenue$14,814,220PYProgramServiceRevenueAmt
CY Program Service Revenue$14,266,149CYProgramServiceRevenueAmt
PY Investment Income$263,299PYInvestmentIncomeAmt
CY Investment Income$257,585CYInvestmentIncomeAmt
PY Other Revenue$28,436PYOtherRevenueAmt
CY Other Revenue-$18,389CYOtherRevenueAmt
PY Total Revenue$15,105,955PYTotalRevenueAmt
CY Total Revenue$14,505,345CYTotalRevenueAmt
PY Grants And Similar Paid$0PYGrantsAndSimilarPaidAmt
CY Grants And Similar Paid$0CYGrantsAndSimilarPaidAmt
PY Benefits Paid To Members$723,823PYBenefitsPaidToMembersAmt
CY Benefits Paid To Members$796,602CYBenefitsPaidToMembersAmt
PY Salaries Comp Emp Bnft Paid$489,853PYSalariesCompEmpBnftPaidAmt
CY Salaries Comp Emp Bnft Paid$552,581CYSalariesCompEmpBnftPaidAmt
PY Total Prof Fndrsng Expns$0PYTotalProfFndrsngExpnsAmt
CY Total Prof Fndrsng Expns$0CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense$0CYTotalFundraisingExpenseAmt
PY Other Expenses$13,600,776PYOtherExpensesAmt
CY Other Expenses$12,917,272CYOtherExpensesAmt
PY Total Expenses$14,814,452PYTotalExpensesAmt
CY Total Expenses$14,266,455CYTotalExpensesAmt
PY Revenues Less Expenses$291,503PYRevenuesLessExpensesAmt
CY Revenues Less Expenses$238,890CYRevenuesLessExpensesAmt
Total Assets BOY$28,938,692TotalAssetsBOYAmt
Total Assets EOY$29,999,346TotalAssetsEOYAmt
Total Liabilities BOY$14,453,098TotalLiabilitiesBOYAmt
Total Liabilities EOY$14,865,017TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY$14,485,594NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY$15,134,329NetAssetsOrFundBalancesEOYAmt
MissionTO PROVIDE ELECTRIC SERVICE TO MEMBERS.MissionDesc
Significant New Program Srvc0SignificantNewProgramSrvcInd
Significant Change0SignificantChangeInd
DescPROVIDE ELECTRICITY SERVICE TO 3,815 MEMBERSDesc
Described In Section501c30DescribedInSection501c3Ind
Schedule B Required0ScheduleBRequiredInd
Political Campaign Acty0PoliticalCampaignActyInd
Subject To Proxy Tax0SubjectToProxyTaxInd
Donor Advised Fund0DonorAdvisedFundInd
Conservation Easements0ConservationEasementsInd
Collections Of Art0CollectionsOfArtInd
Credit CounselingYes (1)CreditCounselingInd
Temp Or Permanent Endowments0TempOrPermanentEndowmentsInd
Report Land Building EquipmentYes (1)ReportLandBuildingEquipmentInd
Report Investments Other Sec0ReportInvestmentsOtherSecInd
Report Program Related Invst0ReportProgramRelatedInvstInd
Report Other Assets0ReportOtherAssetsInd
Report Other LiabilitiesYes (1)ReportOtherLiabilitiesInd
Include FIN48 FootnoteYes (1)IncludeFIN48FootnoteInd
Independent Audit Fincl StmtYes (1)IndependentAuditFinclStmtInd
Consolidated Audit Fincl Stmt0ConsolidatedAuditFinclStmtInd
School Operating0SchoolOperatingInd
Foreign Office0ForeignOfficeInd
Foreign Activities0ForeignActivitiesInd
More Than5000 K To Org0MoreThan5000KToOrgInd
More Than5000 K To Individuals0MoreThan5000KToIndividualsInd
Professional Fundraising0ProfessionalFundraisingInd
Fundraising Activities0FundraisingActivitiesInd
Gaming Activities0GamingActivitiesInd
Operate Hospital0OperateHospitalInd
Grants To Organizations0GrantsToOrganizationsInd
Grants To Individuals0GrantsToIndividualsInd
Schedule J RequiredYes (1)ScheduleJRequiredInd
Tax Exempt Bonds0TaxExemptBondsInd
Loan Outstanding0LoanOutstandingInd
Grant To Related Person0GrantToRelatedPersonInd
Business Rln With Org Mem0BusinessRlnWithOrgMemInd
Business Rln With Fam Mem0BusinessRlnWithFamMemInd
Business Rln With Officer Ent0BusinessRlnWithOfficerEntInd
Deductible Non Cash Contri0DeductibleNonCashContriInd
Deductible Art Contribution0DeductibleArtContributionInd
Terminate Operations0TerminateOperationsInd
Partial Liquidation0PartialLiquidationInd
Disregarded Entity0DisregardedEntityInd
Related EntityYes (1)RelatedEntityInd
Related Organization Ctrl EntYes (1)RelatedOrganizationCtrlEntInd
Transaction With Control Ent0TransactionWithControlEntInd
Activities Conducted Prtshp0ActivitiesConductedPrtshpInd
Schedule O RequiredYes (1)ScheduleORequiredInd
IRP Document23IRPDocumentCnt
IRP Document W2 G0IRPDocumentW2GCnt
Employee20EmployeeCnt
Employment Tax Returns FiledYes (1)EmploymentTaxReturnsFiledInd
Unrelated Bus Incm Over LimitYes (1)UnrelatedBusIncmOverLimitInd
Form990 T FiledYes (1)Form990TFiledInd
Foreign Financial Account0ForeignFinancialAccountInd
Prohibited Tax Shelter Trans0ProhibitedTaxShelterTransInd
Taxable Party Notification0TaxablePartyNotificationInd
Nondeductible Contributions0NondeductibleContributionsInd
Quid Pro Quo Contributions0QuidProQuoContributionsInd
Form8282 Property Disposed Of0Form8282PropertyDisposedOfInd
Members And Shr Gross Income$14,181,292MembersAndShrGrossIncomeAmt
Other Sources Gross Income$441,725OtherSourcesGrossIncomeAmt
Indoor Tanning Services0IndoorTanningServicesInd
Info In Schedule O Part VIYes (X)InfoInScheduleOPartVIInd
Governing Body Voting Members9GoverningBodyVotingMembersCnt
Independent Voting Member9IndependentVotingMemberCnt
Family Or Business Rln0FamilyOrBusinessRlnInd
Delegation Of Mgmt Duties0DelegationOfMgmtDutiesInd
Change To Org Documents0ChangeToOrgDocumentsInd
Material Diversion Or Misuse0MaterialDiversionOrMisuseInd
Members Or StockholdersYes (1)MembersOrStockholdersInd
Election Of Board MembersYes (1)ElectionOfBoardMembersInd
Decisions Subject To ApprovaYes (1)DecisionsSubjectToApprovaInd
Minutes Of Governing BodyYes (1)MinutesOfGoverningBodyInd
Minutes Of Committees0MinutesOfCommitteesInd
Officer Mailing Address0OfficerMailingAddressInd
Local Chapters0LocalChaptersInd
Form990 Provided To Gvrn BodyYes (1)Form990ProvidedToGvrnBodyInd
Conflict Of Interest PolicyYes (1)ConflictOfInterestPolicyInd
Annual Disclosure Covered PrsnYes (1)AnnualDisclosureCoveredPrsnInd
Regular Monitoring EnfrcYes (1)RegularMonitoringEnfrcInd
Whistleblower PolicyYes (1)WhistleblowerPolicyInd
Document Retention PolicyYes (1)DocumentRetentionPolicyInd
Compensation Process CEOYes (1)CompensationProcessCEOInd
Compensation Process Other0CompensationProcessOtherInd
Investment In Joint Venture0InvestmentInJointVentureInd
Upon RequestYes (X)UponRequestInd

Books In Care Of Detail BooksInCareOfDetail

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1MIKE SCHMIDTBusinessNameLine1Txt
FieldValueIRS element (for citing)
Phone2187454711PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1406 N MINNESOTA STREETAddressLine1Txt
CityWARRENCityNm
State AbbreviationMNStateAbbreviationCd
ZIP56762ZIPCd
FieldValueIRS element (for citing)
Info In Schedule O Part VIIYes (X)InfoInScheduleOPartVIIInd

Form990 Part VII Section A Form990PartVIISectionAGrp (11 entries)

TitleTitleTxtAverage Hours Per WeekAverageHoursPerWeekRtIndividual Trustee Or DirectorIndividualTrusteeOrDirectorIndReportable Comp From OrgReportableCompFromOrgAmtReportable Comp From Rltd OrgReportableCompFromRltdOrgAmtOther CompensationOtherCompensationAmtOfficerOfficerInd
TOM WOINAROWICZ
PRESIDENT5.00Yes (X)$7,350$0$0
MIKE BEAUDRY
VICE PRESIDENT4.00Yes (X)$7,100$0$0
GORDON BERNSTROM
SECRETARY TREASURER5.00Yes (X)$8,850$0$0
STEVE GOODWIN
DIRECTOR4.00Yes (X)$7,000$0$0
BLAKE OWENS
DIRECTOR4.00Yes (X)$8,250$0$0
PAUL AAKRE
DIRECTOR4.00Yes (X)$7,000$0$0
JEFF FOLLAND
DIRECTOR4.00Yes (X)$6,000$0$0
MARK HATTON
DIRECTOR4.00Yes (X)$7,000$0$0
WAYNE MALM
DIRECTOR4.00Yes (X)$6,500$0$0
CHARLES RIESEN
MANAGER40.00$231,211$0$64,889Yes (X)
MIKE SCHMIDT
ASSISTANT MANAGER40.00$113,841$0$71,736Yes (X)
FieldValueIRS element (for citing)
Total Reportable Comp From Org$410,102TotalReportableCompFromOrgAmt
Tot Reportable Comp Rltd Org$0TotReportableCompRltdOrgAmt
Total Other Compensation$136,625TotalOtherCompensationAmt
Indiv Rcvd Greater Than100 K2IndivRcvdGreaterThan100KCnt
Former Ofcr Employees Listed0FormerOfcrEmployeesListedInd
Total Comp Greater Than150 KYes (1)TotalCompGreaterThan150KInd
Compensation From Other Srcs0CompensationFromOtherSrcsInd
Cntrct Rcvd Greater Than100 K0CntrctRcvdGreaterThan100KCnt

Program Service Revenue ProgramServiceRevenueGrp

FieldValueIRS element (for citing)
DescSALE OF ELECTRICITYDesc
Business221000BusinessCd
Total Revenue Column$14,266,149TotalRevenueColumnAmt
Related Or Exempt Func Income$14,266,149RelatedOrExemptFuncIncomeAmt
FieldValueIRS element (for citing)
Total Program Service Revenue$14,266,149TotalProgramServiceRevenueAmt

Investment Income InvestmentIncomeGrp

FieldValueIRS element (for citing)
Total Revenue Column$257,585TotalRevenueColumnAmt
Exclusion$257,585ExclusionAmt
FieldValueIRS element (for citing)
Gross Sales Of Inventory$46,099GrossSalesOfInventoryAmt
Cost Of Goods Sold$61,622CostOfGoodsSoldAmt

Net Income Or Loss NetIncomeOrLossGrp

FieldValueIRS element (for citing)
Total Revenue Column-$15,523TotalRevenueColumnAmt
Related Or Exempt Func Income-$15,523RelatedOrExemptFuncIncomeAmt

Other Revenue Misc OtherRevenueMiscGrp (3 entries)

DescDescBusinessBusinessCdTotal Revenue ColumnTotalRevenueColumnAmtRelated Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmtUnrelated Business RevenueUnrelatedBusinessRevenueAmt
CAPITAL CREDITS900099$60,506$60,506
FEDERATED ACQUISITIONS K-1541900-$142-$142
KARIAN K-1541900-$63,230-$63,230
FieldValueIRS element (for citing)
Other Revenue Total-$2,866OtherRevenueTotalAmt

Total Revenue TotalRevenueGrp

FieldValueIRS element (for citing)
Total Revenue Column$14,505,345TotalRevenueColumnAmt
Related Or Exempt Func Income$14,311,132RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue-$63,372UnrelatedBusinessRevenueAmt
Exclusion$257,585ExclusionAmt
FieldValueIRS element (for citing)
Info In Schedule O Part IXYes (X)InfoInScheduleOPartIXInd

Benefits To Members BenefitsToMembersGrp

FieldValueIRS element (for citing)
Total$796,602TotalAmt

Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp

FieldValueIRS element (for citing)
Total$552,581TotalAmt

Interest InterestGrp

FieldValueIRS element (for citing)
Total$572,145TotalAmt

Depreciation Depletion DepreciationDepletionGrp

FieldValueIRS element (for citing)
Total$890,274TotalAmt

Other Expenses OtherExpensesGrp (4 entries)

DescDescTotalTotalAmt
COST OF POWER PURCHASED$9,522,593
DISTRIBUTION EXPENSE$1,041,672
ALL OTHER EXPENSES$555,616
ADMINISTRATIVE & GENERA$330,809

All Other Expenses AllOtherExpensesGrp

FieldValueIRS element (for citing)
Total$4,163TotalAmt

Total Functional Expenses TotalFunctionalExpensesGrp

FieldValueIRS element (for citing)
Total$14,266,455TotalAmt

Cash Non Interest Bearing CashNonInterestBearingGrp

FieldValueIRS element (for citing)
EOY$1EOYAmt

Savings And Temp Cash Invst SavingsAndTempCashInvstGrp

FieldValueIRS element (for citing)
BOY$2,320,880BOYAmt
EOY$3,417,068EOYAmt

Accounts Receivable AccountsReceivableGrp

FieldValueIRS element (for citing)
BOY$1,922,302BOYAmt
EOY$1,649,253EOYAmt

Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp

FieldValueIRS element (for citing)
BOY$102,161BOYAmt
EOY$115,911EOYAmt

Inventories For Sale Or Use InventoriesForSaleOrUseGrp

FieldValueIRS element (for citing)
BOY$786,134BOYAmt
EOY$674,137EOYAmt

Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp

FieldValueIRS element (for citing)
BOY$163,362BOYAmt
EOY$154,597EOYAmt
FieldValueIRS element (for citing)
Land Bldg Equip Cost Or Other Bss$34,644,315LandBldgEquipCostOrOtherBssAmt
Land Bldg Equip Accum Deprec$12,688,972LandBldgEquipAccumDeprecAmt

Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp

FieldValueIRS element (for citing)
BOY$21,432,262BOYAmt
EOY$21,955,343EOYAmt

Investments Other Securities InvestmentsOtherSecuritiesGrp

FieldValueIRS element (for citing)
BOY$884,392BOYAmt
EOY$700,227EOYAmt

Investments Program Related InvestmentsProgramRelatedGrp

FieldValueIRS element (for citing)
BOY$1,318,797BOYAmt
EOY$1,328,623EOYAmt

Other Assets Total OtherAssetsTotalGrp

FieldValueIRS element (for citing)
BOY$8,402BOYAmt
EOY$4,186EOYAmt

Total Assets TotalAssetsGrp

FieldValueIRS element (for citing)
BOY$28,938,692BOYAmt
EOY$29,999,346EOYAmt

Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp

FieldValueIRS element (for citing)
BOY$1,693,198BOYAmt
EOY$1,809,561EOYAmt

Escrow Account Liability EscrowAccountLiabilityGrp

FieldValueIRS element (for citing)
BOY$1,087BOYAmt
EOY$1,035EOYAmt

Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp

FieldValueIRS element (for citing)
BOY$12,562,064BOYAmt
EOY$12,868,936EOYAmt

Other Liabilities OtherLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$196,749BOYAmt
EOY$185,485EOYAmt

Total Liabilities TotalLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$14,453,098BOYAmt
EOY$14,865,017EOYAmt
FieldValueIRS element (for citing)
Org Does Not Follow SFAS117Yes (X)OrgDoesNotFollowSFAS117Ind

Cap Stk Tr Prin Current Funds CapStkTrPrinCurrentFundsGrp

FieldValueIRS element (for citing)
BOY$0BOYAmt
EOY$0EOYAmt

Pd In Cap Srpls Land Bldg Eqp Fund PdInCapSrplsLandBldgEqpFundGrp

FieldValueIRS element (for citing)
BOY$19,055BOYAmt
EOY$19,240EOYAmt

Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp

FieldValueIRS element (for citing)
BOY$14,466,539BOYAmt
EOY$15,115,089EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$14,485,594BOYAmt
EOY$15,134,329EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$28,938,692BOYAmt
EOY$29,999,346EOYAmt
FieldValueIRS element (for citing)
Info In Schedule O Part XIYes (X)InfoInScheduleOPartXIInd
Reconcilation Revenue Expnss$238,890ReconcilationRevenueExpnssAmt
Other Changes In Net Assets$409,845OtherChangesInNetAssetsAmt
Info In Schedule O Part XIIYes (X)InfoInScheduleOPartXIIInd
Method Of Accounting AccrualYes (X)MethodOfAccountingAccrualInd
Accountant Compile Or Review0AccountantCompileOrReviewInd
FS AuditedYes (1)FSAuditedInd

FS Audited Basis FSAuditedBasisGrp

FieldValueIRS element (for citing)
Separate Basis Fincl StmtYes (X)SeparateBasisFinclStmtInd
FieldValueIRS element (for citing)
Audit CommitteeYes (1)AuditCommitteeInd
Federal Grant Audit Required0FederalGrantAuditRequiredInd

Schedule D IRS990ScheduleD

FieldValueIRS element (for citing)
Agent Trustee Etc0AgentTrusteeEtcInd
Incl Escrow Custodial Acct LiabYes (1)InclEscrowCustodialAcctLiabInd
Explanation ProvidedYes (X)ExplanationProvidedInd

Land LandGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$139,913OtherCostOrOtherBasisAmt
Book Value$139,913BookValueAmt

Buildings BuildingsGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$892,869OtherCostOrOtherBasisAmt
Depreciation$583,839DepreciationAmt
Book Value$309,030BookValueAmt

Equipment EquipmentGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$33,596,416OtherCostOrOtherBasisAmt
Depreciation$12,105,133DepreciationAmt
Book Value$21,491,283BookValueAmt

Other Land Buildings OtherLandBuildingsGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$15,117OtherCostOrOtherBasisAmt
Book Value$15,117BookValueAmt
FieldValueIRS element (for citing)
Total Book Value Land Buildings$21,955,343TotalBookValueLandBuildingsAmt

Other Liabilities Org OtherLiabilitiesOrgGrp (2 entries)

DescDescAmtAmt
CONSUMER DEPOSITS$14,350
CONSUMER ENERGY PREPAYMENTS$171,135
FieldValueIRS element (for citing)
Total Liability$185,485TotalLiabilityAmt
Footnote TextYes (X)FootnoteTextInd
Total Rev Etc Audited Fincl Stmt$14,561,397TotalRevEtcAuditedFinclStmtAmt
Other Revenue$56,052OtherRevenueAmt
Revenue Not Reported$56,052RevenueNotReportedAmt
Revenue Subtotal$14,505,345RevenueSubtotalAmt
Revenue Not Reported Fincl Stmt$0RevenueNotReportedFinclStmtAmt
Total Revenue Per Form990$14,505,345TotalRevenuePerForm990Amt
Tot Expns Etc Audited Fincl Stmt$13,469,546TotExpnsEtcAuditedFinclStmtAmt
Expenses Not Reported$0ExpensesNotReportedAmt
Expenses Subtotal$13,469,546ExpensesSubtotalAmt
Other Expenses Not Included$796,909OtherExpensesNotIncludedAmt
Expenses Not Rpt Fincl Stmt$796,909ExpensesNotRptFinclStmtAmt
Total Expenses Per Form990$14,266,455TotalExpensesPerForm990Amt

Supplemental Information Detail SupplementalInformationDetail (4 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
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, 2017, THE ACCOUNT HELD $1,035.
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 56,052.
PART XII, LINE 4B - OTHER ADJUSTMENTS:CHARITABLE CONTRIBUTIONS ON K-1 FROM KARIAN PETERSON 307. ALLOCATED CAPITAL CREDITS 796,602.

Schedule J IRS990ScheduleJ

FieldValueIRS element (for citing)
Compensation CommitteeYes (X)CompensationCommitteeInd
Compensation SurveyYes (X)CompensationSurveyInd
Board Or Committee ApprovalYes (X)BoardOrCommitteeApprovalInd
Severance Payment0SeverancePaymentInd
Supplemental Nonqual Rtr Plan0SupplementalNonqualRtrPlanInd
Equity Based Comp Arrngm0EquityBasedCompArrngmInd

Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (2 entries)

TitleTitleTxtBase Compensation Filing OrgBaseCompensationFilingOrgAmtCompensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmtBonus Filing OrganizationBonusFilingOrganizationAmountBonus Related OrganizationsBonusRelatedOrganizationsAmtOther Compensation Filing OrgOtherCompensationFilingOrgAmtOther Compensation Rltd OrgsOtherCompensationRltdOrgsAmtDeferred Compensation Flng OrgDeferredCompensationFlngOrgAmtDeferred Comp Rltd OrgsDeferredCompRltdOrgsAmtNontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmtNontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmtTotal Compensation Filing OrgTotalCompensationFilingOrgAmtTotal Compensation Rltd OrgsTotalCompensationRltdOrgsAmtComp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmtComp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt
CHARLES RIESEN
MANAGER$150,000$0$0$0$81,211$0$58,826$0$7,545$0$297,582$0$0$0
MIKE SCHMIDT
ASSISTANT MANAGER$110,647$0$0$0$3,194$0$45,768$0$27,136$0$186,745$0$0$0

Supplemental Information Detail SupplementalInformationDetail

FieldValueIRS element (for citing)
Form And Line ReferenceFORM 990, SCHEDULE J, PART II, COLUMN CFormAndLineReferenceDesc
ExplanationON 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 ReferenceFormAndLineReferenceDescExplanationExplanationTxt
FORM 990, PART VI, SECTION A, LINE 6THERE 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 7AEVERY MEMBER HAS ONE VOTING RIGHT AT THE ANNUAL MEETING TO VOTE ON THE SELECTION OF OFFICERS.
FORM 990, PART VI, SECTION A, LINE 7BEVERY 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 8BTHERE 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 11BTHE 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 12CTHE 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 15ATHE 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 19THE 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 CHARLES RIESEN IS $42,326 AND FOR MIKE SCHMIDT IS $33,492. 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 $46,830 AND $34,842 RESPECTIVELY.
FORM 990, PART IX, LINE 4: PATRONAGE DIVIDENDS PAIDFORM 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:LLC'S INCOME - PER BOOKS 90,835. RETIREMENT OF CAPITAL CREDITS -443,300. OTHER INCREASE IN MEMBERSHIP INCOME 185. ALLOCATION OF CAPITAL CREDITS 796,602. LLC INCOME PER K-1'S AND FORM 990 -34,477.
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

FieldValueIRS element (for citing)
Business Name Line1PKM ELECTRIC COOPERATIVE TRUSTBusinessNameLine1Txt

US Address USAddress

FieldValueIRS element (for citing)
Address Line1406 NORTH MINNESOTA STREETAddressLine1Txt
CityWARRENCityNm
State AbbreviationMNStateAbbreviationCd
ZIP56762ZIPCd
FieldValueIRS element (for citing)
EIN311529073EIN
Primary ActivitiesCOLLECT & DISBURSE FUNDS FOR CHARITABLE PURPOSESPrimaryActivitiesTxt
Legal Domicile StateMNLegalDomicileStateCd
Exempt Code Section501(C)(3)ExemptCodeSectionTxt
Public Charity Status7PublicCharityStatusTxt

Direct Controlling Entity Name DirectControllingEntityName

FieldValueIRS element (for citing)
Business Name Line1PKM ELECTRIC COOPERATIVE INCBusinessNameLine1Txt
FieldValueIRS element (for citing)
Controlled OrganizationYes (1)ControlledOrganizationInd
FieldValueIRS element (for citing)
Receipt Of Int Annts Rnts Rylts0ReceiptOfIntAnntsRntsRyltsInd
Gift Grnt Or Cap Contri To Oth Org0GiftGrntOrCapContriToOthOrgInd
Gift Grnt Cap Contri From Oth Org0GiftGrntCapContriFromOthOrgInd
Loans Or Guarantees To Other Org0LoansOrGuaranteesToOtherOrgInd
Loans Or Guarantees From Oth Org0LoansOrGuaranteesFromOthOrgInd
Div Related Organization0DivRelatedOrganizationInd
Asset Sale To Other Org0AssetSaleToOtherOrgInd
Asset Purchase From Other Org0AssetPurchaseFromOtherOrgInd
Asset Exchange0AssetExchangeInd
Rental Of Facilities To Oth Org0RentalOfFacilitiesToOthOrgInd
Rental Of Fclts From Oth Org0RentalOfFcltsFromOthOrgInd
Perform Of Services For Oth Org0PerformOfServicesForOthOrgInd
Perform Of Services By Other Org0PerformOfServicesByOtherOrgInd
Sharing Of Facilities0SharingOfFacilitiesInd
Paid Employees Sharing0PaidEmployeesSharingInd
Reimbursement Paid To Other Org0ReimbursementPaidToOtherOrgInd
Reimbursement Paid By Other Org0ReimbursementPaidByOtherOrgInd
Transfer To Other OrgYes (1)TransferToOtherOrgInd
Transfer From Other Org0TransferFromOtherOrgInd

Comments

Anonymous: no account or email. Up to 2,000 characters, at most one link. Comments are checked automatically; some wait for review.