P K M ELECTRIC COOPERATIVE INC: Form 990, tax year 2011
View the entire original 990 at ProPublica ↗
- Organization
- P K M ELECTRIC COOPERATIVE INC (EIN 41-0484875)
- Tax period
- 2011-01-01 to 2011-12-31
- Filed
- 2012-07-05
- IRS object ID
- 201211879349300801
- Schema version
- 2011v1.2
- 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) |
|---|---|---|
| Timestamp | 2012-07-05T08:23:40-05:00 | Timestamp |
| Tax Period End Date | 2011-12-31 | TaxPeriodEndDate |
Preparer Firm PreparerFirm
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 450250958 | EIN |
Preparer Firm Business Name PreparerFirmBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | EIDE BAILLY LLP | BusinessNameLine1 |
Preparer Firm US Address PreparerFirmUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 4310 17TH AVE S PO BOX 2545 | AddressLine1 |
| City | FARGO | City |
| State | ND | State |
| ZIP Code | 581082545 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnType |
| Tax Period Begin Date | 2011-01-01 | TaxPeriodBeginDate |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 410484875 | EIN |
Name Name
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | PKM Electric Cooperative | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Control | PKME | NameControl |
| Phone | 2187454711 | Phone |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO Box 108 406 North Minnesota | AddressLine1 |
| Address Line2 | Street | AddressLine2 |
| City | Warren | City |
| State | MN | State |
| ZIP Code | 56762 | ZIPCode |
Officer Officer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | Charles Riesen | Name |
| Title | Manager | Title |
| Phone | 2187454711 | Phone |
| Date Signed | 2012-06-27 | DateSigned |
| Authorize Third Party | 1 | AuthorizeThirdParty |
Preparer Preparer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | LISA CHAFFEE CPA | Name |
| PTIN | P00193453 | PTIN |
| Phone | 7012398500 | Phone |
| Date Prepared | 2012-06-27 | DatePrepared |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax Year | 2011 | TaxYear |
| Build TS | 2016-02-24 21:20:13Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Of Principal Officer Person | Charles Riesen | NameOfPrincipalOfficerPerson |
Address Principal Officer US AddressPrincipalOfficerUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO Box 108 406 North Minnesota | AddressLine1 |
| Address Line2 | Street | AddressLine2 |
| City | Warren | City |
| State | MN | State |
| ZIP Code | 56762 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | 11548172 | GrossReceipts |
| Group Return For Affiliates | 0 | GroupReturnForAffiliates |
| Organization501c | X | Organization501c |
| Web Site | www.pkmcoop.com | WebSite |
| Type Of Organization Corporation | X | TypeOfOrganizationCorporation |
| Year Formation | 1941 | YearFormation |
| State Legal Domicile | MN | StateLegalDomicile |
| Activity Or Mission Description | Sale of electricity to members. | ActivityOrMissionDescription |
| Nbr Voting Members Governing Body | 9 | NbrVotingMembersGoverningBody |
| Nbr Independent Voting Members | 9 | NbrIndependentVotingMembers |
| Total Nbr Employees | 19 | TotalNbrEmployees |
| Total Nbr Volunteers | 0 | TotalNbrVolunteers |
| Total Gross UBI | 190413 | TotalGrossUBI |
| Net Unrelated Business Txbl Income | 26820 | NetUnrelatedBusinessTxblIncome |
| Contributions Grants Prior Year | 0 | ContributionsGrantsPriorYear |
| Contributions Grants Current Year | 0 | ContributionsGrantsCurrentYear |
| Program Service Revenue Prior Year | 10098593 | ProgramServiceRevenuePriorYear |
| Program Service Revenue CY | 11321294 | ProgramServiceRevenueCY |
| Investment Income Prior Year | 190928 | InvestmentIncomePriorYear |
| Investment Income Current Year | 156012 | InvestmentIncomeCurrentYear |
| Other Revenue Prior Year | -20209 | OtherRevenuePriorYear |
| Other Revenue Current Year | -18421 | OtherRevenueCurrentYear |
| Total Revenue Prior Year | 10269312 | TotalRevenuePriorYear |
| Total Revenue Current Year | 11458885 | TotalRevenueCurrentYear |
| Grants And Similar Amnts Prior Year | 0 | GrantsAndSimilarAmntsPriorYear |
| Grants And Similar Amnts CY | 4453 | GrantsAndSimilarAmntsCY |
| Benefits Paid To Members Prior Year | 0 | BenefitsPaidToMembersPriorYear |
| Benefits Paid To Members CY | 0 | BenefitsPaidToMembersCY |
| Salaries Etc Prior Year | 1181258 | SalariesEtcPriorYear |
| Salaries Etc Current Year | 1725688 | SalariesEtcCurrentYear |
| Total Prof Fundrsng Exp Prior Year | 0 | TotalProfFundrsngExpPriorYear |
| Total Prof Fundrsng Exp CY | 0 | TotalProfFundrsngExpCY |
| Total Fundrsng Exp Current Year | 0 | TotalFundrsngExpCurrentYear |
| Other Expense Prior Year | 8167792 | OtherExpensePriorYear |
| Other Expenses Current Year | 9460458 | OtherExpensesCurrentYear |
| Total Expenses Prior Year | 9349050 | TotalExpensesPriorYear |
| Total Expenses Current Year | 11190599 | TotalExpensesCurrentYear |
| Revenues Less Expenses Prior Year | 920262 | RevenuesLessExpensesPriorYear |
| Revenues Less Expenses CY | 268286 | RevenuesLessExpensesCY |
| Total Assets BOY | 23546677 | TotalAssetsBOY |
| Total Assets EOY | 23818117 | TotalAssetsEOY |
| Total Liabilities BOY | 11868552 | TotalLiabilitiesBOY |
| Total Liabilities EOY | 11819363 | TotalLiabilitiesEOY |
| Net Assets Or Fund Balances BOY | 11678125 | NetAssetsOrFundBalancesBOY |
| Net Assets Or Fund Balances EOY | 11998754 | NetAssetsOrFundBalancesEOY |
| Mission Description | "None" | MissionDescription |
| Significant New Program Services | 0 | SignificantNewProgramServices |
| Significant Change | 0 | SignificantChange |
| Description | Provide electricity service to 3,667 members. | Description |
| Described In501 C3 | 0 | DescribedIn501C3 |
| Schedule B Required | 0 | ScheduleBRequired |
| Political Activities | 0 | PoliticalActivities |
| Subject To Proxy Tax | 0 | SubjectToProxyTax |
| Donor Advised Funds | 0 | DonorAdvisedFunds |
| Conservation Easements | 0 | ConservationEasements |
| Collections Of Art | 0 | CollectionsOfArt |
| Credit Counseling | 0 | CreditCounseling |
| Term Or Permanent Endowments | 0 | TermOrPermanentEndowments |
| Report Land Bldg Equip | 1 | ReportLandBldgEquip |
| Report Invest Oth Securities | 0 | ReportInvestOthSecurities |
| Report Prog Rel Invest | 0 | ReportProgRelInvest |
| Report Other Assets | 0 | ReportOtherAssets |
| Report Other Liabilities | 1 | ReportOtherLiabilities |
| Report Fin48 Footnote | 0 | ReportFin48Footnote |
| Independent Audit Financial Stmt | 0 | IndependentAuditFinancialStmt |
| Consolidated Audit Financial Stmt | 0 | ConsolidatedAuditFinancialStmt |
| School | 0 | School |
| Foreign Office | 0 | ForeignOffice |
| Foreign Activities | 0 | ForeignActivities |
| More Than5000 K To Organizations | 0 | MoreThan5000KToOrganizations |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividuals |
| Professional Fundraising | 0 | ProfessionalFundraising |
| Fundraising Activities | 0 | FundraisingActivities |
| Gaming | 0 | Gaming |
| Hospital | 0 | Hospital |
| Grants To Organizations | 0 | GrantsToOrganizations |
| Grants To Individuals | 0 | GrantsToIndividuals |
| Schedule J Required | 1 | ScheduleJRequired |
| Tax Exempt Bonds | 0 | TaxExemptBonds |
| Loan To Officer Or DQP | 0 | LoanToOfficerOrDQP |
| Grant To Related Person | 0 | GrantToRelatedPerson |
| Bsnss Rltnshp With Organization | 0 | BsnssRltnshpWithOrganization |
| Bsnss Rltnshp Thru Family Member | 0 | BsnssRltnshpThruFamilyMember |
| Officer Entity With Bsnss Rltnshp | 0 | OfficerEntityWithBsnssRltnshp |
| Deductible Non Cash Contributions | 0 | DeductibleNonCashContributions |
| Deductible Contributions Of Art | 0 | DeductibleContributionsOfArt |
| Terminated | 0 | Terminated |
| Partial Liquidation | 0 | PartialLiquidation |
| Disregarded Entity | 0 | DisregardedEntity |
| Related Entity | 0 | RelatedEntity |
| Related Org Controlled Entity | 0 | RelatedOrgControlledEntity |
| Transaction Related Entity | 0 | TransactionRelatedEntity |
| Activities Conducted Partnership | 0 | ActivitiesConductedPartnership |
| Schedule O Required | 1 | ScheduleORequired |
| Number Forms Transmitted With1096 | 20 | NumberFormsTransmittedWith1096 |
| Number W2 G Included | 0 | NumberW2GIncluded |
| Compliance With Backup Witholding | 1 | ComplianceWithBackupWitholding |
| Number Of Employees | 19 | NumberOfEmployees |
| Employment Tax Returns Filed | 1 | EmploymentTaxReturnsFiled |
| Unrelated Business Income | 1 | UnrelatedBusinessIncome |
| Form990-T Filed | 1 | Form990-TFiled |
| Foreign Financial Account | 0 | ForeignFinancialAccount |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTrans |
| Taxable Party Notification | 0 | TaxablePartyNotification |
| Non Deductible Contributions | 0 | NonDeductibleContributions |
| Gross Income From Members | 11113317 | GrossIncomeFromMembers |
| Gross Income Other Sources | 413417 | GrossIncomeOtherSources |
| Indoor Tanning Services | 0 | IndoorTanningServices |
| Info In Schedule O Part VI | X | InfoInScheduleOPartVI |
| Nbr Voting Governing Body Members | 9 | NbrVotingGoverningBodyMembers |
| Number Independent Voting Members | 9 | NumberIndependentVotingMembers |
| Family Or Business Relationship | 0 | FamilyOrBusinessRelationship |
| Delegation Of Management Duties | 0 | DelegationOfManagementDuties |
| Changes To Organizing Docs | 0 | ChangesToOrganizingDocs |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuse |
| Members Or Stockholders | 1 | MembersOrStockholders |
| Election Of Board Members | 1 | ElectionOfBoardMembers |
| Decisions Subject To Approval | 1 | DecisionsSubjectToApproval |
| Minutes Of Governing Body | 1 | MinutesOfGoverningBody |
| Minutes Of Committees | 0 | MinutesOfCommittees |
| Officer Mailing Address | 0 | OfficerMailingAddress |
| Local Chapters | 0 | LocalChapters |
| Form990 Provided To Governing Body | 1 | Form990ProvidedToGoverningBody |
| Conflict Of Interest Policy | 1 | ConflictOfInterestPolicy |
| Annual Disclosure Covered Persons | 1 | AnnualDisclosureCoveredPersons |
| Regular Monitoring Enforcement | 1 | RegularMonitoringEnforcement |
| Whistleblower Policy | 1 | WhistleblowerPolicy |
| Document Retention Policy | 1 | DocumentRetentionPolicy |
| Compensation Process CEO | 1 | CompensationProcessCEO |
| Compensation Process Other | 0 | CompensationProcessOther |
| Investment In Joint Venture | 1 | InvestmentInJointVenture |
| Written Policy Or Procedure | 0 | WrittenPolicyOrProcedure |
| States Where Copy Of Return Is Filed | MN | StatesWhereCopyOfReturnIsFiled |
| Upon Request | X | UponRequest |
The Books Are In Care Of TheBooksAreInCareOf
Name Business NameBusiness
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Mike Schmidt | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Telephone Number | 2187454711 | TelephoneNumber |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 406 N Minnesota Street | AddressLine1 |
| City | Warren | City |
| State | MN | State |
| ZIP Code | 56762 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part VII | X | InfoInScheduleOPartVII |
Form990 Part VII Section A Form990PartVIISectionA (11 entries)
| TitleTitle | Average Hours Per WeekAverageHoursPerWeek | Individual Trustee Or DirectorIndividualTrusteeOrDirector | OfficerOfficer | Reportable Comp From OrganizationReportableCompFromOrganization | Reportable Comp From Related OrgsReportableCompFromRelatedOrgs | Other CompensationOtherCompensation |
|---|---|---|---|---|---|---|
| Ronald Reitmeier | ||||||
| President | 5.00 | X | X | 5950 | 0 | 0 |
| John Anderson | ||||||
| Vice President | 5.00 | X | X | 6225 | 0 | 0 |
| Gordon Bernstrom | ||||||
| Secretary/Treasurer | 5.00 | X | X | 6850 | 0 | 0 |
| Jeffrey Folland | ||||||
| Director | 4.00 | X | 5250 | 0 | 0 | |
| Thomas Woinarowicz | ||||||
| Director | 4.00 | X | 5850 | 0 | 0 | |
| Michael Beaudry | ||||||
| Director | 4.00 | X | 6450 | 0 | 0 | |
| Blake Owens | ||||||
| Director | 4.00 | X | 6150 | 0 | 0 | |
| Wayne Malm | ||||||
| Director | 4.00 | X | 5100 | 0 | 0 | |
| Steve Goodwin | ||||||
| Director | 4.00 | X | 5100 | 0 | 0 | |
| Charles Riesen | ||||||
| Manager | 40.00 | X | 155821 | 0 | 69784 | |
| Mike Schmidt | ||||||
| Assistant Manager | 40.00 | X | 90840 | 0 | 83757 | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | 299586 | TotalReportableCompFromOrg |
| Total Reportable Comp Frm Rltd Orgs | 0 | TotalReportableCompFrmRltdOrgs |
| Total Other Compensation | 153541 | TotalOtherCompensation |
| Number Individuals GT100 K | 1 | NumberIndividualsGT100K |
| Formers Listed | 0 | FormersListed |
| Total Comp GT150 K | 1 | TotalCompGT150K |
| Compensation From Other Sources | 0 | CompensationFromOtherSources |
| Number Of Contractors GT100 K | 0 | NumberOfContractorsGT100K |
Program Service Revenue ProgramServiceRevenue (5 entries)
| DescriptionDescription | Business CodeBusinessCode | Total Revenue ColumnTotalRevenueColumn | Related Or Exempt Function IncomeRelatedOrExemptFunctionIncome | Unrelated Business RevenueUnrelatedBusinessRevenue |
|---|---|---|---|---|
| Sale of Electricity | 221000 | 11042451 | 11042451 | |
| Management Fees | 541610 | 136808 | 136808 | |
| Capital Credits | 900099 | 88430 | 88430 | |
| Karian K-1 | 541900 | 31860 | 31860 | |
| NSS K-1 | 541900 | 22935 | 22935 |
Total Oth Program Service Revenue TotalOthProgramServiceRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -1190 | TotalRevenueColumn |
| Unrelated Business Revenue | -1190 | UnrelatedBusinessRevenue |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | 11321294 | TotalProgramServiceRevenue |
Investment Income InvestmentIncome
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 156012 | TotalRevenueColumn |
| Exclusion | $156,012 | ExclusionAmount |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Sales Of Inventory | 70866 | GrossSalesOfInventory |
| Cost Of Goods Sold | 89287 | CostOfGoodsSold |
Net Income Or Loss NetIncomeOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -18421 | TotalRevenueColumn |
| Related Or Exempt Function Income | -18421 | RelatedOrExemptFunctionIncome |
Total Revenue TotalRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 11458885 | TotalRevenueColumn |
| Related Or Exempt Function Income | 11112460 | RelatedOrExemptFunctionIncome |
| Unrelated Business Revenue | 190413 | UnrelatedBusinessRevenue |
| Exclusion | $156,012 | ExclusionAmount |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part IX | X | InfoInScheduleOPartIX |
Grants To Domestic Orgs GrantsToDomesticOrgs
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 4453 | Total |
Comp Current Officers Directors CompCurrentOfficersDirectors
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 436909 | Total |
Other Salaries And Wages OtherSalariesAndWages
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 927776 | Total |
Pension Plan Contributions PensionPlanContributions
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 296627 | Total |
Payroll Taxes PayrollTaxes
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 64376 | Total |
Interest Interest
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 502463 | Total |
Depreciation Depletion DepreciationDepletion
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 738621 | Total |
Other Expenses OtherExpenses (4 entries)
| DescriptionDescription | TotalTotal |
|---|---|
| Cost of Power Purchased | 7530919 |
| Distribution Expense | 1029694 |
| Administrative and Gene | 926981 |
| Customer Service | 457468 |
All Other Expenses AllOtherExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | -1725688 | Total |
Total Functional Expenses TotalFunctionalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 11190599 | Total |
Cash Non Interest Bearing CashNonInterestBearing
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | -45461 | BOY |
Savings And Temp Cash Investments SavingsAndTempCashInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1575000 | BOY |
| EOY | 956373 | EOY |
Accounts Receivable AccountsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1107557 | BOY |
| EOY | 1336104 | EOY |
Other Notes Loans Receivable Net OtherNotesLoansReceivableNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 185954 | BOY |
| EOY | 112526 | EOY |
Inventories For Sale Or Use InventoriesForSaleOrUse
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 587506 | BOY |
| EOY | 430255 | EOY |
Prepaid Expenses Deferred Charges PrepaidExpensesDeferredCharges
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 200679 | BOY |
| EOY | 232854 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Buildings Equipment Basis | 28483278 | LandBuildingsEquipmentBasis |
| Land Bldg Equipment Accum Deprec | 9775025 | LandBldgEquipmentAccumDeprec |
Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 18007947 | BOY |
| EOY | 18708253 | EOY |
Investments Other Securities InvestmentsOtherSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 752880 | BOY |
| EOY | 875241 | EOY |
Investments Program Related InvestmentsProgramRelated
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1160547 | BOY |
| EOY | 1156521 | EOY |
Other Assets Total OtherAssetsTotal
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 14068 | BOY |
| EOY | 9990 | EOY |
Total Assets TotalAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 23546677 | BOY |
| EOY | 23818117 | EOY |
Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1397326 | BOY |
| EOY | 541626 | EOY |
Deferred Revenue DeferredRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 215174 | BOY |
| EOY | 142556 | EOY |
Escrow Account Liability EscrowAccountLiability
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | 1307 | EOY |
Mort Notes Pybl Secured Invest Prop MortNotesPyblSecuredInvestProp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 10196810 | BOY |
| EOY | 11113524 | EOY |
Unsecured Notes Loans Payable UnsecuredNotesLoansPayable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 41667 | BOY |
| EOY | 5000 | EOY |
Other Liabilities OtherLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 17575 | BOY |
| EOY | 15350 | EOY |
Total Liabilities TotalLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 11868552 | BOY |
| EOY | 11819363 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Do Not Follow SFAS117 | X | DoNotFollowSFAS117 |
Cap Stck Trst Prin Current Funds CapStckTrstPrinCurrentFunds
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Paid In Cap Srpls Land Bldg Eqp Fund PaidInCapSrplsLandBldgEqpFund
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 18370 | BOY |
| EOY | 18335 | EOY |
Retained Earnings Endowment Etc RetainedEarningsEndowmentEtc
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 11659755 | BOY |
| EOY | 11980419 | EOY |
Total Net Assets Fund Balances TotalNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 11678125 | BOY |
| EOY | 11998754 | EOY |
Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 23546677 | BOY |
| EOY | 23818117 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | X | InfoInScheduleOPartXI |
| Reconcilation Revenue Expenses | 268286 | ReconcilationRevenueExpenses |
| Reconcilation Other Changes | 52343 | ReconcilationOtherChanges |
| Info In Schedule O Part XII | X | InfoInScheduleOPartXII |
| Method Of Accounting Accrual | X | MethodOfAccountingAccrual |
| Accountant Compile Or Review | 0 | AccountantCompileOrReview |
| FS Audited | 0 | FSAudited |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequired |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Agent Trustee Etc | 0 | AgentTrusteeEtc |
| Included On FS | 1 | IncludedOnFS |
Land Land
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 131497 | OtherCostOrOtherBasis |
| Book Value | 131497 | BookValue |
Buildings Buildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 817242 | OtherCostOrOtherBasis |
| Depreciation | 506603 | Depreciation |
| Book Value | 310639 | BookValue |
Equipment Equipment
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 26215848 | OtherCostOrOtherBasis |
| Depreciation | 9268422 | Depreciation |
| Book Value | 16947426 | BookValue |
Other Land Buildings OtherLandBuildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 1318691 | OtherCostOrOtherBasis |
| Book Value | 1318691 | BookValue |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Land Buildings | 18708253 | TotalOfBookValueLandBuildings |
Other Liabilities OtherLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | Consumers Deposits | Description |
| Amount | $15,350 | Amount |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Amounts | 15350 | TotalOfAmounts |
Form990 Schedule D Part XIV Form990ScheduleDPartXIV
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Reference | Part IV, Line 2b: | ReturnReference |
| Explanation | 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 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 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, 2011 the account held $1,307. | Explanation |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Compensation Committee | X | CompensationCommittee |
| Compensation Survey | X | CompensationSurvey |
| Board Or Committee Approval | X | BoardOrCommitteeApproval |
| Severance Payment | 0 | SeverancePayment |
| Supplemental Nonqual Retire Plan | 0 | SupplementalNonqualRetirePlan |
| Equity Based Comp Arrangement | 0 | EquityBasedCompArrangement |
Form990 Schedule J Part II Form990ScheduleJPartII (2 entries)
| Base Compensation Filing OrgBaseCompensationFilingOrg | Comp Based On Related OrgsCompBasedOnRelatedOrgs | Bonus Filing OrgBonusFilingOrg | Bonus Related OrgsBonusRelatedOrgs | Other Compensation Filing OrgOtherCompensationFilingOrg | Other Compensation Related OrgsOtherCompensationRelatedOrgs | Deferred Comp Filing OrgDeferredCompFilingOrg | Deferred Comp Related OrgsDeferredCompRelatedOrgs | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrg | Nontaxable Benefits Related OrgsNontaxableBenefitsRelatedOrgs | Total Compensation Filing OrgTotalCompensationFilingOrg | Total Compensation Related OrgsTotalCompensationRelatedOrgs | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrg | Comp Report Prior990 Related OrgsCompReportPrior990RelatedOrgs |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Charles Riesen | |||||||||||||
| 145589 | 0 | 0 | 0 | 10232 | 0 | 49196 | 0 | 21708 | 0 | 226725 | 0 | 0 | 0 |
| Mike Schmidt | |||||||||||||
| 83760 | 0 | 0 | 0 | 7080 | 0 | 55674 | 0 | 29014 | 0 | 175528 | 0 | 0 | 0 |
Form990 Schedule J Part III Form990ScheduleJPartIII
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | Supplemental Information | Identifier |
| Return Reference | Part III | ReturnReference |
| Explanation | Form 990, Schedule J, Part II, Column C, Compensation of Officers, Directors, Key Employees, Highest Compensated Employees and Independent Contractors: Included in Column "C", deferred compensaton, is the estimated annual increase in the actuarial value of the defined benefit plan. The estimated increase for Charles Riesen is $35,468 and $44,982 for Mike Schmidt. 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 $34,956 and $27,226, respectively. | Explanation |
Schedule O IRS990ScheduleO
General Explanation GeneralExplanation (12 entries)
| Return ReferenceReturnReference | ExplanationExplanation | IdentifierIdentifier |
|---|---|---|
| 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 | Each 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 of 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 11 | The Assistant Manager, Mike Schmidt, will review the final Form 990. The Form 990 will be provided to the board for review electronically prior to the board meeting. The Assistant Manager will also present the Form 990 to the Manager, Charles Riesen, and 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 was started in September and approved in October of 2011. | |
| 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, is the estimated annual increase in the actuarial value of the defined benefit plan. The estimated increase for Charles Riesen is $35,468 and for Mike Schmidt is $44,982. 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 $34,956 and $27,226, respectively. | |
| Form 990, Part IX, Statement of Functional Expenses, Line 24e | The labor, pension and payroll taxes reported on lines 5-10 are already included in distribution expense, administrative and general expense and customer expense. Therefore these amounts are being subtracted out as an other deduction on line 24e in the amount of $(1,725,688). | |
| Form 990, Part XI, line 5: | Retirement of Capital Credits -14,648. Less Equity Income From LLC's-Book 222,360. Tax Income From K-1(s) -155,369. Total to Form 990, Part XI, Line 5: 52,343. | Changes in Net Assets or Fund Balances: |
| Form 990, Part XI, Line 2b | The Organization did not receive audited financial statements for December 31, 2011 year end. The Organization did, however, receive audited financials for the February 28, 2011 year end. | Audited Financials Statements |
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