2018-11-01T15:21:10-05:00 2017-12-31 450250958 EIDE BAILLY LLP 4310 17TH AVE S PO BOX 2545 FARGO ND 581082545 990 2017-01-01 450173086 North Central Electric Cooperative Inc NORT 7012282202 538 11th St West No 1 Bottineau ND 58318 Wayne Martian General Manager 7012282202 2018-10-31 1 LISA CHAFFEE CPA P00193453 7012398500 2018-10-31 38.134.125.46 2018-10-31 13:57:58 CD P CEC276730FFE6C5EBD879B4383FE91158CB23495 3F1B4C4A1C1F32CA3CD03C05270CE62742EA9E6E 2017 2018-06-14 16:35:46Z Wayne Martian 538 11th St West No 1 Bottineau ND 58318 25501936 0 X www.nceci.com X 1941 ND The exempt purpose of the organization is to provide electricity to members. 9 9 39 0 9141 7058 0 0 24550777 25031904 42665 -878056 25869 19058 24619311 24172906 0 0 2201032 2265298 3830585 3923533 0 0 0 18586849 19719533 24618466 25908364 845 -1735458 73138195 76575263 49848518 52709380 23289677 23865883 None 0 0 Sale of electricity and electrical services to 8,519+ residential and commercial members. Service encompasses over 3,274 miles of utility line. 0 0 0 0 0 0 0 0 0 1 0 1 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 1 0 0 1 36 0 1 39 1 1 1 0 0 0 0 24677582 57778 0 X 9 9 0 0 0 0 1 1 1 1 0 0 0 1 1 1 1 1 1 1 1 0 X Tori Kling 7012282202 538 11th Street West Suite 1 Bottineau ND 58318 X Jesse Fahnestock President 8.00 X X 9516 0 0 David O'Connell Vice President 6.00 X X 15582 0 0 Lori Kittleson Secretary/Treasurer 6.00 X X 7016 0 0 Kenneth Haarsager Director (Jan-Jun) 6.00 X 2457 0 0 Kenneth Brenden Director 6.00 X 7430 0 0 Jean Brandt Director 6.00 X 8066 0 0 Bradley Aho Director (Jul-Dec) 6.00 X 5008 0 0 RJ Paul Director 6.00 X 6816 0 0 Stuart Rothe Director 6.00 X 7241 0 0 Joel Brandvold Director 6.00 X 8341 0 0 Wayne Martian General Manager 50.00 X 222324 0 17975 Tori Kling Business Manager 50.00 X 114901 0 52900 David Caroline Line Superintendent 40.00 X 118025 0 17265 532723 0 88140 3 0 1 0 Central Trenching Inc 5200 7th Ave SW Minot ND 58701 Trenching Services 448626 Parisien's Tree Service PO Box 777 Belcourt ND 58316 Trim/Brush Trees 241014 2 Electric Sales 221000 24040752 24040752 Capital Credits 221000 991152 991152 25031904 41759 41759 15000 0 15000 15000 15000 919815 -919815 -919815 -919815 413273 409215 4058 -5083 9141 24172906 25026821 9141 -863056 X 2265298 461246 2769182 461162 231943 1631620 2161591 UBI Taxes 12361 Cost of Power 14556981 Distribution Expense 2855804 Administrative and Gene 1198155 -2696979 25908364 X 371910 2617006 3088775 2933641 3584 672 173 1080 2264435 1166518 761425 614062 84716756 30032810 52501974 54683946 268662 300337 13877257 14251351 0 6650 73138195 76575263 3233364 2741050 933399 1988357 37931755 47979973 7750000 0 49848518 52709380 X 23289677 23865883 0 0 0 0 23289677 23865883 73138195 76575263 X -1735458 2311664 X 0 1 X 1 0 56779 56779 6215031 1073393 5141638 4989374 3583277 1406097 73455572 25376140 48079432 54683946 Patronage Capital 12874241 C Rural Econ Dev Revolving Loan Pool 933878 C Energy Resource Conservation Loans 2824 C Equipment Loans 338550 C Memberships 2277 C Federated Rural Electric Insurance Equity 99581 C 14251351 X 24160545 -12361 -12361 24172906 0 24172906 23630705 0 23630705 2277659 2277659 25908364 Part X, Line 2: The Cooperative is exempt from income taxes under Section 501(c)(12) of the Internal Revenue Code. The Cooperative is annually required to file a Return of Organization Exempt from Income Tax (Form 990) with the IRS. The Cooperative files an Exempt Organization Business Income Tax Return (Form 990-T) with the IRS to report its unrelated business taxable income. The Subsidiary is a taxable corporation and provides for income taxes based on income reported in the financial statements. The Cooperative evaluates its tax positions that have been taken or are expected to be taken on income tax returns to determine if an accrual is necessary for uncertain tax positions. As of December 31, 2017 and 2016, the unrecognized tax benefit accrual was zero. The Cooperative will recognized future accrued interest and penalties related to unrecognized tax benefits in income tax expense if incurred. Part XI, Line 2d - Other Adjustments: Expenses included with income for financial statements -12,361. Part XII, Line 4b - Other Adjustments: Expenses included with income for financial statements 12,361. Patronage Capital Credits Allocated For Current Year 2,265,298. X X 0 0 0 Wayne Martian General Manager 218450 0 300 0 3574 0 8810 0 10207 0 241341 0 0 0 Tori Kling Business Manager 114245 0 300 0 356 0 37789 0 15685 0 168375 0 0 0 Part II Included in column "c" , deferred compensation, is 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 is reflected in the Schedule O statement for Form 990, Part VII, column F. Lori Opdahl Former Officer Equipment Loan X 3000 672 0 1 1 672 Form 990, Part VI, Section A, line 6 There is one class of members which all have the same voting rights. Form 990, Part VI, Section A, line 7a Members vote for all open positions in all districts that are up for election that year. Form 990, Part VI, Section A, line 7b Changes to bylaws or articles of incorporation must be approved by members of the Cooperative. Form 990, Part VI, Section A, line 8b There are no committees that have authority to act on behalf of the governing body. Form 990, Part VI, Section B, line 11b The General Manager and Business Manager reviewed a draft of the Form 990. The Form 990 was presented at a board meeting prior to filing with the IRS. Form 990, Part VI, Section B, line 12c Directors and management must annually complete a form to disclose any conflicts they might have. The President of the Board reviews the disclosures. For each instance disclosed, the President has discretion to take no action, assure full disclosure to the full board and management, ask the person to recuse him or herself from discussions or decisions relating to the conflict or ask the person to resign. The General Manager monitors proposed or ongoing conflicts and discloses them to the Board President. Form 990, Part VI, Section B, line 15 The Board annually uses a salary survey made available through the North Dakota Association of Rural Electric Cooperatives. The salary deliberation is documented in the minutes. The Board votes on the compensation. Compensation for the Business Manager is determined based on Business Manager salaries at other cooperatives across North Dakota, taking into account the results of the ND Association of REC's Wage and Salary Survey. In addition, the Business Manager's years of service to the Cooperative are considered. The Board approves all wages anually. For non-union employees the General Manager makes a recommendation, and the Board votes to approve. For union members, the union negotiates directly with the Board and the General Manager. When an agreement is reached the Board will formally approve the new wage scale. Form 990, Part VI, Section C, line 19 The governing documents, conflict of interest policy, and financial statements are available upon request. Form 990, Part VII, Section A, Column (F) Included in column "f", estimated amount of other compensation, is the estimated annual increase in the actuarial value of the defined benefit plan. The estimated increase for Tori Kling for 2017 is $33,004. This amount is estimated 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 $7,061. Form 990, Part IX, Statement Of Functional Expenses, Line 24e Allocated Costs: The labor, pension, and payroll taxes reported on lines 5-10 are already included in distribution expense, administrative & general expense and customer expense. Therefore, these amounts are being subtracted out as an other deduction on line 24e in the amount of $(3,923,533). Form 990, Part X, Line 4: The Cooperative has interpreted the instructions to Part IX, Line 4, to mean patronage capital allocated for the year, rather than patronage capital retired. This is consistent with the Bylaws of the Cooperative. Form 990, Part XI, line 9: Refunded Checks 46,366. Patronage Capital Credits Allocated For Current Year 2,265,298. North Central Electric Trust Inc 538 11th Street West Suite 1 Bottineau ND 58318 467523359 Operation Roundup ND 501(c)(3) Line 7 North Central Electric Cooperative Inc 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0