2015-11-16T15:07:10-06:00 2014-12-31 410746749 CLIFTONLARSONALLEN LLP 103 W MCMILLAN SUITE 2 PO BOX 428 MARSHFIELD WI 54449 990 2014-01-01 390783977 CENTRAL WISCONSIN ELECTRIC COOPERATIVE CENT 7156772211 PO BOX 100 ROSHOLT WI 54473 MICHAEL WADE PRESIDENT/CEO 7156772211 2015-11-16 1 CRAIG POPENHAGEN P01587689 7153876341 2015-11-16 2014 2016-02-25 16:41:14Z MICHAEL WADE PO BOX 100 ROSHOLT WI 54473 15533642 0 X HTTP://WWW.CWECOOP.COM/ X 1938 WI TO PROVIDE RELIABLE ELECTRIC ENERGY AND RELATED SERVICES TO MEMBERS UNDER COOPERATIVE PRINCIPLES. 7 7 34 0 44891 0 0 0 14179791 15030815 177156 140999 -117907 44891 14239040 15216705 0 0 262922 571233 522824 363803 0 0 0 12981943 14449445 13767689 15384481 471351 -167776 53057617 55018997 35410915 37040352 17646702 17978645 THE MISSION OF CENTRAL WISCONSIN ELECTRIC COOPERATIVE IS TO PROVIDE RELIABLE, AFFORDABLE ENERGY, AND OTEHR 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 PROVIDE ELECTRIC SERVICE TO MEMBERS OF COOPERATIVE BY PURCHASING THE WHOLESALE POWER; BUILDING, MAINTAINING, AND OPERATING A DISTRIBUTION SYSTEM; AND OPERATING CUSTOMER/MEMBER OPERATIONS. 0 0 0 0 0 0 0 0 0 1 0 1 0 1 1 1 0 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 7 0 1 34 1 1 1 0 0 0 0 14845111 858095 0 X 7 7 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 11650 0 0 ELAINE ECKENDORF DIRECTOR 8.40 X 9750 0 0 TOM SMITH VICE CHAIRMAN 9.90 X X 10833 0 0 SUE ROMBALSKI SECRETARY/TREASURER 8.80 X X 10650 0 0 LEE LEHRER DIRECTOR 5.80 X 10575 0 0 LEONARD OPPER DIRECTOR 7.20 X 9425 0 0 RON ONESTI DIRECTOR 5.50 X 9725 0 0 MICHAEL L WADE PRESIDENT & CEO 50.00 X 123105 0 49395 LILA SHOWER VP OF ACCOUNTING AND FINANCE 50.00 X 83529 0 35166 CASS REYNOLDS VP OF ENGINEERING 50.00 X 133692 0 43525 412934 0 128086 2 0 1 0 AJ CONSTRUCTION 3532 PLAYBIRD ROAD SHEBOYGAN WI 53083 CABLE TRENCHING 672506 ASPLUNDTH TREE EXPERT PO BOX 827464 PHILADEPHIA PA 19182 BRUSH & SPRAYING 281970 2 SALE OF POWER 221000 14845111 14845111 CAPITAL CREDITS 221000 185704 185704 15030815 157692 157692 109750 45502 64248 64248 64248 34883 51576 -16693 -16693 -16693 198791 219859 -21068 -21068 DBS K-1 INCOME 900099 1711 1711 1711 15216705 15030815 44891 140999 X 571233 363803 1635181 1591051 COST OF POWER 7655749 MAINTENANCE EXPENSE 1001338 ADMINISTRATIVE & GENERA 828048 OPERATIONS EXPENSE 807217 930861 15384481 338870 557231 1983717 2065918 854354 1015092 588010 679249 1041533 915267 54724061 12132895 40232007 42591166 1582375 564297 6021498 6230889 415253 399888 53057617 55018997 821296 678064 8545000 8390000 24073386 26942150 1971233 1030138 35410915 37040352 X 0 0 2080365 2204013 15566337 15774632 17646702 17978645 53057617 55018997 X -167776 499718 X X 0 1 X 1 0 224098 224098 1093443 4936083 588625 5440901 75139 47401578 11544270 35932447 993720 993720 42591166 INVESTMENTS IN NRUCFC NOTES 2667786 C INVESTMENT IN ATC, LLC 2068102 C OTHER ASSOCIATED ORGANIZATIONS 1495001 C 6230889 ACCRUED PAYROLL LIABILITIES 497415 ACCRUED INTEREST 246284 CUSTOMER DEPOSITS 81155 ACCRUED TAXES 35243 OTHER LIABILITIES 170041 1030138 X 15346061 175984 175984 15170077 46628 46628 15216705 14734364 0 14734364 650116 650116 15384480 PART X, LINE 2: THE COOPERATIVE IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(12) OF THE INTERNAL REVENUE CODE. CWEC SERVICES, LLC IS A TAXABLE CORPORATION, AND HAD INCOME OF $2,955. THERE IS NO PROVISION FOR INCOME TAXES AT DECEMBER 31, 2014 AND 2013. THE COOPERATIVE AND ITS SUBSIDIARY EVALUATED THEIR TAX POSITIONS AND DETERMINED THAT THERE ARE NO UNCERTAIN TAX POSITIONS AS OF DECEMBER 31, 2014 AND 2013. WITH FEW EXCEPTIONS, THE COOPERATIVE AND ITS SUBSIDIARY ARE NO LONGER SUBJECT TO FEDERAL,STATE, OR LOCAL INCOME TAX EXAMINATIONS BY TAX AUTHORITIES FOR YEARS BEFORE 2011. PART XI, LINE 2D - OTHER ADJUSTMENTS: ATC K-1 INCOME ADJUSTMENT 175,984. PART XI, LINE 4B - OTHER ADJUSTMENTS: MIDWISCONSIN DBS, LLC K-1 INCOME ADJUSTMENT 6,420. RECLASSIFYING EXPENSES 40,208. PART XII, LINE 4B - OTHER ADJUSTMENTS: PATRON CAPITAL ASSIGNED 571,232. RECLASSIFYING EXPENSES 40,208. ATC K-1 LOSS 38,676. X 0 0 0 MICHAEL L WADE PRESIDENT & CEO 123105 0 0 0 0 0 23658 0 25737 0 172500 0 0 0 CASS REYNOLDS VP OF ENGINEERING 133692 0 0 0 0 0 23658 0 19867 0 177217 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 610000 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 ELECTION OF MEMBERS AND THEIR RIGHTS THE MEMBERSHIP VOTES ON THE BOARD OF DIRECTORS. THERE ARE SEVEN DIRECTORS AND THEY REPRESENT THE MEMBERSHIP. FORM 990, PART VI, SECTION B, LINE 11 ORGANIZATION'S PROCESS TO REVIEW FORM 990 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 FORM 990, PART VI, LINE 15A - COMPENSATION PROCESS FOR TOP OFFICIAL 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. FORM 990, PART VI, LINE 15B - COMPENSATION PROCESS FOR OFFICERS OTHER KEY EMPLOYEE'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. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS DISCLOSURE EXPLANATION 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: MIDWISCONSIN DBS, LLC K-1 INCOME ADJUSTMENT -6,420. NET CHANGE IN EQUITIES FOR RETIREMENTS -290,228. ATC K-1 INCOME ADJUSTMENT 214,660. ALLOCATION OF PATRON CAPITAL 571,232. CHANGE IN OTHER EQUITIES 10,681. CHANGE IN MEMBERSHIPS -207. 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 2955 256701 CENTRAL WISCONSIN ELECTRIC COOPERATIVE