2011-08-01T11:42:22-05:00 2010-12-31 BRADY MARTZ AND ASSOCIATES PC PO BOX 14296 GRAND FORKS ND 582084296 990 2010-01-01 410411772 MILLE LACS ENERGY COOPERATIVE MILL 2189272191 PO BOX 230 AITKIN MN 56431 DEBORAH SCHULTZ 2189272191 2011-07-25 1 DAVID HOLT 7017754685 2010 2016-03-07 17:11:31Z RALPH MYKKANEN PO BOX 230 AITKIN MN 56431 22563649 0 X WWW.MLECMN.NET X 1939 MN PROVIDE ELECTRIC DISTRIBUTION SERVICE TO 12,940 MEMBERS OF THE COOPERATIVE 7 6 55 0 811723 48562 0 0 20240793 20929484 150459 137703 1688501 1449273 22079753 22516460 0 0 0 0 438432 390249 0 0 0 19894967 20303239 20333399 20693488 1746354 1822972 52512403 54038242 34195003 34869463 18317400 19168779 501(C)12 ELECTRIC DISTRIBUTION COOPERATIVE - EXEMPT PURPOSE IS TO PROVIDE ELECTRICITY TO OUR MEMBERS 0 0 PROVIDE ELECTRIC SERVICE TO 12,940 MEMBERS OF THE COOPERATIVE 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 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 1 23 0 55 1 1 1 0 0 0 0 20913042 1294555 0 X 7 6 0 0 0 0 1 1 1 1 1 0 0 1 0 1 1 1 1 0 MN X DEBORAH SCHULTZ 2189278234 36559 US HIGHWAY 169 AITKIN MN 56431 AILEEN R DEMENGE 3.80 X 10559 0 0 LYNDON E HASSKAMP 5.30 X 11622 0 0 DONALD HYYTINEN 2.20 X 10501 0 0 DENNIS LAMKE 8.60 X X 10250 0 0 HAROLD M NELSON 5.00 X X 12898 0 0 LAVERNE WATTERS 9.00 X X 15020 0 0 BARBARA WELTY 4.80 X X 13301 0 0 RALPH MYKKANEN 43.60 X 155779 0 29221 DEBORAH SCHULTZ 44.80 X 96322 0 24776 JOHN PIERSON JR 44.30 X 108728 0 25931 444980 0 79928 2 0 1 0 NISC PO BOX 1147 MANDAN ND 58554 COMPUTER SOFTWARE SERVICES 224941 ECE PO BOX 39 BRAHAM MN 55006 PLANT MAINTENANCE, ON CALL SERVICES, ETC 183874 R&G WALDHALM CONTRACTORS 3263 LAKETOWN RD STURGEON LAKE MN 55783 UNDERGROUND WIRING 103040 3 ELECTRIC SALES 221000 20583413 20583413 FORFEITED DISCOUNTS 221000 226425 226425 OTHER MISCELLANEOUS RE 221000 95272 95272 POLES, ATTACHEMNTS & O 221000 24374 3077 21297 20929484 136724 136724 8760 7781 979 979 979 47341 39408 7933 7933 INTERNET, LD, PHONE AN 517000 803790 803790 GENERATION & TRANSMISS 900099 456338 456338 OTHER CAPITAL CREDITS 900099 181212 181212 1441340 22516460 21545737 811723 159000 390249 1334399 1573999 COST OF POWER 12156755 DISTRIBUTION - MAINTENA 1523463 ADMINISTRATIVE AND GENE 1178091 DISTRIBUTION - OPERATIO 891803 UNRELATED BUSINESS EXPE 798718 846011 20693488 235557 234377 1329643 1672585 383755 448848 1030 1625 7781 4582 758201 799185 17723 26555 56103411 17116336 38480759 38987075 9188676 9690040 2109278 2173370 52512403 54038242 3242174 3546980 59898 48353 29321171 29509545 1571760 1764585 34195003 34869463 X 0 0 0 0 18317400 19168779 18317400 19168779 52512403 54038242 X 1822972 -971593 X X 0 1 1 X 0 138630 138630 1592596 926122 666474 3953158 2468520 1484638 50419027 13721694 36697333 38987075 CAPITAL CREDITS OTHER COOP ORGANIZATIONS 7416148 C MEMBERSHIP FEES 2225 C CFC CAPITAL TERM CERTIFICATES 1046630 C MINNESOTA RURAL ELECTRIC TRUST 28842 C ECONOMIC DEVELOPMENT PROJECTS 729522 C INVESTMENT IN INTERNET & LD EQUIP, NET 81302 C MINNESOTA COMMUNITY CAPITAL FUND 50000 C CASH SURRENDER VALUE OF LIFE INSURANCE 335371 F 9690040 CUSTOMER ENERGY PREPAYMENTS 181013 PENSION PLAN BENEFIT OBLIGATIONS 706697 DEFERRED COMPENSATION PLAN 428335 SALES TAX REFUND 188378 UNCLAIMED PROPERTY 167839 INSTALLATION COSTS - METERS & TRANSFORMERS 61982 OTHER 6341 CASH IN LIEU OF BID BONDS 24000 1764585 22516460 20693488 1822972 -971593 -971593 851379 22516460 0 22516460 0 22516460 20693488 0 20693488 0 20693488 DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: INCOME TAXES - THE COOPERATIVE IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C) (12) OF THE INTERNAL REVENUE CODE; HOWEVER, THE COOPERATIVE IS SUBJECT TO INCOME TAX FROM INCOME DERIVED FROM SOURCES THAT ARE NOT RELATED TO ITS EXEMPT PURPOSE. FOR THE YEARS ENDING DECEMBER 31, 2010 AND 2009 THE PROVISION FOR INCOME TAXES WAS $16,717 AND $1,022, RESPECTIVELY. THE COMPANY'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 FEDERAL INCOME TAX RETURNS OF THE COOPERATIVE ARE SUBJECT TO EXAMINATION BY THE IRS, GENERALLY FOR THREE YEARS AFTER THEY WERE FILED. PART XI, LINE 8 - OTHER ADJUSTMENTS: OTHER COMPREHENSIVE LOSS -481,108. RETIREMENT OF CAPITAL CREDITS -490,485. X X 0 0 0 RALPH MYKKANEN 155779 0 0 0 0 0 24107 0 5114 0 185000 0 0 0 RALPH MYKKANEN COMPUTER LOAN X 3000 1625 0 1 1 1625 DENNIS LAMKE DENNIS LAMKE REPRESENTS THE COOPERATIVE ON GREAT RIVER ENERGY'S BOARD. 12156755 PURCHASE OF WHOLESALE POWER 0 FORM 990, PART VI, SECTION A, LINE 6 MEMBER OWNED ELECTRIC COOPERATIVE FORM 990, PART VI, SECTION A, LINE 7A WE ARE A COOPERATIVE. BOARD MEMBER POSITIONS COME UP FOR ELECTION EVERY 3 YEARS. ALL MEMBERS ARE ELIGIBLE TO VOTE. THE BOARD IS AUTHORIZED TO FILL A POSITION WHEN VACATED DURING THE YEAR. FORM 990, PART VI, SECTION A, LINE 7B WHERE APPLICABLE, I.E. CHANGES IN ARTICLES OF INCORPORATION BY-LAWS, DISSOLUTION OF COOPERATIVE, ETC. ALL MEMBERS ARE ELIGIBLE TO PARTICIPATE IN THIS DECISION. FORM 990, PART VI, SECTION B, LINE 11 A DRAFT COPY OF THE 990 WAS PROVIDED TO EACH BOARD MEMBER. THIS WAS REVIEWED BY THE FINANCIAL MANAGER WITH THE BOARD AT THE JULY 21, 2011 BOARD MEETING. FORM 990, PART VI, SECTION B, LINE 15 THE WAGE AND SALARY PLAN USED FOR ALL OF THE NON-UNION EMPLOYEES, INCLUDING THE MANAGEMENT TEAM, IS BASED ON SURVEY DATA PROVIDED BY NRECA FOR SIMILAR POSITIONS OF OTHER RURAL ELECTRIC COOPERATIVES IN THE U.S. THE PROCESS USED HAS BEEN APPROVED BY THE BOARD AND IS DOCUMENTED IN POLICY. THE OVERALL PLAN IS REVIEWED ANNUALLY. FORM 990, PART VI, SECTION C, LINE 19 POLICY 109 PROVIDES GUIDELINES FOR REQUESTING COOPERATIVE RECORDS. WHERE APPLICABLE A WRITTEN REQUEST IS REQUIRED. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: OTHER COMPREHENSIVE LOSS -481,108. RETIREMENT OF CAPITAL CREDITS -490,485. TOTAL TO FORM 990, PART XI, LINE 5: -971,593. FINANCIAL STATEMENT AUDIT FORM 990, PART XII, LINE 2C THE PROCESS FOR OVERSEEING THE AUDIT AND SELECTION OF AN INDEPENDENT ACCOUNTANT HAS NOT CHANGED FROM THE PRIOR YEAR.