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← WRIGHT-HENNEPIN COOPERATIVE ELECTRIC ASSOCIATION

Form 990 for tax year 2023

Filed by WRIGHT-HENNEPIN COOPERATIVE ELECTRIC ASSOCIATION.

Totals

Total revenue
$125,052,995
Total expenses
$121,841,198
Contributions and grants received
$0
Grants paid
$12,200
Program service revenue
$120,246,142
Investment income
$185,602
Other revenue
$4,621,251
Total assets, end of year
$262,748,920
Total liabilities, end of year
$159,881,773
Net assets or fund balances, end of year
$102,867,147
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
not reported

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 2a · Program service revenue: SALE OF ELECTRICITY

    total $120,246,142 · related or exempt $120,246,142

  • 3 · Investment income

    total $49,607 · excluded $49,607

  • 6a · Gross rents

    real property $29,750

  • 6b · Less rental expenses

    real property $4,835

  • 6c · Rental income or loss

    real property $24,915

  • 6d · Net rental income or loss

    total $24,915 · excluded $24,915

  • 7a · Gross sales of assets other than inventory

    other assets $155,450

  • 7b · Less cost or other basis and sales expenses

    other assets $19,455

  • 7c · Gain or loss

    other assets $135,995

  • 7d · Net gain or loss

    total $135,995 · excluded $135,995

  • 11a · Other revenue: CAPITAL CREDITS

    total $3,992,772 · related or exempt $3,992,772

  • 11b · Other revenue: INCOME FROM SUBSIDIARY

    total $580,778 · related or exempt $580,778

  • 11c · Other revenue: MISCELLANEOUS INCOME/EXPENSE

    total $22,786 · related or exempt $22,786

  • 11e · Other revenue, total

    $4,596,336

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $12,200

  • 4 · Benefits paid to or for members

    total $7,132,773

  • 5 · Compensation of officers, directors and key employees

    total $2,495,706

  • 20 · Interest

    total $4,305,505

  • 22 · Depreciation, depletion and amortization

    total $7,051,555

  • 24a · Other expenses: COST OF POWER

    total $79,371,761

  • 24b · Other expenses: DISTRIBUTION - OPERATIO

    total $7,371,696

  • 24c · Other expenses: DISTRIBUTION - MAINTENA

    total $5,351,817

  • 24d · Other expenses: ADMINISTRATIVE AND GENE

    total $3,887,206

  • 24e · All other expenses

    total $4,860,979

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,505,296 · end of year $1,625,412

  • 4 · Accounts receivable

    beginning of year $7,927,693 · end of year $7,558,151

  • 7 · Other notes and loans receivable

    beginning of year $17,138 · end of year $2,962

  • 8 · Inventories for sale or use

    beginning of year $2,139,448 · end of year $5,065,543

  • 9 · Prepaid expenses and deferred charges

    beginning of year $275,549 · end of year $472,981

  • 10a · Land, buildings and equipment: cost or other basis

    $243,076,096

  • 10b · Land, buildings and equipment: accumulated depreciation

    $83,658,732

  • 10c · Land, buildings and equipment, net

    beginning of year $144,345,523 · end of year $159,417,364

  • 12 · Investments: other securities

    beginning of year $23,741,406 · end of year $23,781,217

  • 13 · Investments: program-related

    beginning of year $56,275,873 · end of year $58,581,135

  • 15 · Other assets

    beginning of year $7,676,790 · end of year $6,244,155

  • 17 · Accounts payable and accrued expenses

    beginning of year $19,343,449 · end of year $21,699,017

  • 19 · Deferred revenue

    beginning of year $8,133,985 · end of year $6,148,409

  • 21 · Escrow or custodial account liability

    beginning of year $21,036 · end of year $21,480

  • 23 · Secured mortgages and notes payable

    beginning of year $96,660,307 · end of year $91,493,579

  • 24 · Unsecured notes and loans payable

    beginning of year $9,500,000 · end of year $32,650,000

  • 25 · Other liabilities

    beginning of year $8,233,739 · end of year $7,869,288

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $102,012,200 · end of year $102,867,147

Mission and programs · 2023

Mission

WE DELIVER THE POWER, PRODUCTS AND COMPETITIVE PRICING ESSENTIAL FOR IMPROVING THE QUALITY OF LIFE OF THE MEMBERS AND COMMUNITIES WE SERVE.

Activities or mission (Part I)

WHCEA IS A MEMBER-OWNED, NOT-FOR-PROFIT ELECTRIC COOPERATIVE. ELECTRIC UTILITY THAT PROVIDES POWER TO RURAL WRIGHT COUNTY AND WESTERN HENNEPIN COUNTY.

  • DELIVER THE POWER, PRODUCTS AND COMPETITIVE PRICING ESSENTIAL FOR IMPROVING THE QUALITY OF LIFE OF THE MEMBERS AND COMMUNITIES WE SERVE. THIS IS DONE BY EXECUTING A COMPREHENSIVE STRATEGY PLAN, WHICH INCLUDES PURCHASING POWER FROM SEVERAL PROVIDERS, THE LARGEST COST TO THE COOPERATIVE.THE COOPERATIVE SERVED 59,596 MEMBERS AND 4,333 MILES OF LINE AS OF DECEMBER 31, 2023.

As filed on the 2023 return.

Listed in Part VII

  • ERICK HEINZ

    CHAIR

    Total calculated
    $46,775
    From this org
    $38,046
    From related orgs
    $8,729
    Other
    $0
    Hours/week
    10.5 + 2.4 related

  • TIMOTHY YOUNG

    VICE CHAIR

    Total calculated
    $42,600
    From this org
    $24,475
    From related orgs
    $18,125
    Other
    $0
    Hours/week
    5.3 + 3.9 related

  • MICHAEL TIEVA

    SECRETARY-TREASURER

    Total calculated
    $37,525
    From this org
    $30,431
    From related orgs
    $7,094
    Other
    $0
    Hours/week
    8.9 + 2.1 related

  • PAT BAKEBERG

    DIRECTOR

    Total calculated
    $32,725
    From this org
    $24,544
    From related orgs
    $8,181
    Other
    $0
    Hours/week
    6 + 2 related

  • KENNETH HIEBEL

    DIRECTOR UNTIL 4/23

    Total calculated
    $9,700
    From this org
    $5,950
    From related orgs
    $3,750
    Other
    $0
    Hours/week
    2.2 + 1.4 related

  • CHRIS LANTTO

    DIRECTOR

    Total calculated
    $42,750
    From this org
    $33,250
    From related orgs
    $9,500
    Other
    $0
    Hours/week
    14 + 4 related

  • DUANE BUTCH LINDENFELSER

    DIRECTOR

    Total calculated
    $40,425
    From this org
    $21,276
    From related orgs
    $19,149
    Other
    $0
    Hours/week
    10 + 9 related

  • JOHN REYNOLDS

    DIRECTOR

    Total calculated
    $35,225
    From this org
    $25,932
    From related orgs
    $9,293
    Other
    $0
    Hours/week
    4.1 + 1.5 related

  • MARK SKINNER

    DIRECTOR

    Total calculated
    $39,500
    From this org
    $31,600
    From related orgs
    $7,900
    Other
    $0
    Hours/week
    6 + 1.5 related

  • AUDREY BRITTON

    DIRECTOR FROM 04/23

    Total calculated
    $23,375
    From this org
    $13,357
    From related orgs
    $10,018
    Other
    $0
    Hours/week
    8 + 6 related

  • TIMOTHY SULLIVAN

    PRESIDENT & CEO

    Total calculated
    $603,795
    From this org
    $461,540
    From related orgs
    $40,134
    Other
    $102,121
    Hours/week
    41.4 + 3.6 related

    Schedule J breakdown matched by us

    Base
    $343,012 + $29,827 related
    Bonus
    $114,402 + $9,948 related
    Other
    $4,126 + $359 related
    Deferred
    $68,650 + $5,970 related
    Nontaxable benefits
    $26,777 + $2,328 related
    Filer's total
    $556,967 + $48,432 related

  • BRIAN SWANSON

    CFO UNTIL 09/23

    Total calculated
    $446,146
    From this org
    $248,468
    From related orgs
    $165,646
    Other
    $32,032
    Hours/week
    27 + 18 related

    Schedule J breakdown matched by us

    Base
    $143,065 + $95,377 related
    Bonus
    $28,020 + $18,680 related
    Other
    $77,383 + $51,589 related
    Deferred
    $15,254 + $10,170 related
    Nontaxable benefits
    $4,714 + $3,143 related
    Filer's total
    $268,436 + $178,959 related

  • ROB DEWOLFE

    CFO FROM 09/23

    Total calculated
    $0
    Hours/week
    21 + 14 related

  • ROBERT SANDBERG

    VP OF POWER SUPPLY

    Total calculated
    $365,487
    From this org
    $280,824
    From related orgs
    $0
    Other
    $84,663
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $220,671
    Bonus
    $58,389
    Other
    $1,764
    Deferred
    $57,654
    Nontaxable benefits
    $28,335
    Filer's total
    $366,813

  • JENNIFER SEVERSON

    VP OF HUMAN RESOURCES

    Total calculated
    $278,332
    From this org
    $161,262
    From related orgs
    $46,075
    Other
    $70,995
    Hours/week
    35 + 10 related

    Schedule J breakdown matched by us

    Base
    $136,640 + $39,040 related
    Bonus
    $24,344 + $6,956 related
    Other
    $278 + $79 related
    Deferred
    $31,775 + $9,079 related
    Nontaxable benefits
    $24,281 + $6,937 related
    Filer's total
    $217,318 + $62,091 related

  • LEE NORDBY

    OPERATIONS DIRECTOR

    Total calculated
    $266,503
    From this org
    $225,743
    From related orgs
    $0
    Other
    $40,760
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $191,797
    Bonus
    $32,900
    Other
    $1,046
    Deferred
    $40,568
    Nontaxable benefits
    $1,249
    Filer's total
    $267,560

  • CURTIS CORDT

    ENGINEERING DIRECTOR

    Total calculated
    $277,833
    From this org
    $214,996
    From related orgs
    $0
    Other
    $62,837
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $182,132
    Bonus
    $30,600
    Other
    $2,264
    Deferred
    $39,140
    Nontaxable benefits
    $25,108
    Filer's total
    $279,244

  • GABE GARLETS

    VP OF IT UNTIL 12/23

    Total calculated
    $241,279
    From this org
    $159,183
    From related orgs
    $45,481
    Other
    $36,615
    Hours/week
    35 + 10 related

    Schedule J breakdown matched by us

    Base
    $136,182 + $38,909 related
    Bonus
    $22,400 + $6,400 related
    Other
    $601 + $172 related
    Deferred
    $28,329 + $8,094 related
    Nontaxable benefits
    $1,253 + $358 related
    Filer's total
    $188,765 + $53,933 related

  • SCOTT GEAREY

    LINE CREW FOREMAN

    Total calculated
    $219,619
    From this org
    $176,005
    From related orgs
    $0
    Other
    $43,614
    Hours/week
    51

    Schedule J breakdown matched by us

    Base
    $168,949
    Bonus
    $1,388
    Other
    $5,668
    Deferred
    $16,400
    Nontaxable benefits
    $27,425
    Filer's total
    $219,830

  • KEITH BURANDT

    LINE CREW FOREMAN

    Total calculated
    $205,424
    From this org
    $163,024
    From related orgs
    $0
    Other
    $42,400
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $157,949
    Bonus
    $1,388
    Other
    $3,687
    Deferred
    $15,367
    Nontaxable benefits
    $27,244
    Filer's total
    $205,635

  • JOHN STUEVEN

    RELIEF LINE CREW FOREMAN

    Total calculated
    $186,545
    From this org
    $168,931
    From related orgs
    $0
    Other
    $17,614
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $162,729
    Bonus
    $1,388
    Other
    $4,814
    Deferred
    $15,215
    Nontaxable benefits
    $2,399
    Filer's total
    $186,545

  • LARS ERICKSON

    RELIEF CREW FOREMAN

    Total calculated
    $206,090
    From this org
    $160,889
    From related orgs
    $0
    Other
    $45,201
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $155,129
    Bonus
    $1,388
    Other
    $4,372
    Deferred
    $15,507
    Nontaxable benefits
    $29,899
    Filer's total
    $206,295

  • JONATHAN LEE

    LEAD LINE CREW FOREMAN

    Total calculated
    $190,913
    From this org
    $171,780
    From related orgs
    $0
    Other
    $19,133
    Hours/week
    49

    Schedule J breakdown matched by us

    Base
    $168,240
    Bonus
    $2,000
    Other
    $1,540
    Deferred
    $15,854
    Nontaxable benefits
    $3,509
    Filer's total
    $191,143

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4c · Equity-based compensation arrangement

The filer's explanations (Part III)

PART I, LINES 4A-B
BRIAN SWANSON RECEIVED A SEVERANCE PAYMENT OF $128,400. THE COOPERATIVE SPONSORS TWO UNFUNDED NONQUALIFIED DEFERRED COMPENSATION PLANS. UNDER THE FIRST PLAN, ONLY EMPLOYEES WHO MEET CERTAIN ELIGIBILITY REQUIREMENTS ARE ALLOWED TO PARTICIPATE. UNDER THIS PLAN, AN ANNUAL DISCRETIONARY CONTRIBUTION IS APPROVED BY THE BOARD OF DIRECTORS WITH INDIVIDUAL DISTRIBUTION AMOUNTS DETERMINED BY THE CEO. PARTICIPATING EMPLOYEES WILL BE FULLY VESTED IN THE AWARDED AMOUNTS ONLY UPON MEETING ALL VESTING REQUIREMENTS AS DEFINED IN THE PLAN AGREEMENT. SCHEDULE J, PART II COLUMN (C) INCLUDES CONTRIBUTIONS AND EARNINGS ON THE 457(F) PLAN AS FOLLOWS: CURTIS CORDT $23,405 LEE NORDBY $23,716 ROBERT SANDBERG $28,060 JENNIFER SEVERSON $22,232 GABE GARLETS $21,131 UNDER THE SECOND PLAN, A FIXED AWARD HAS BEEN APPROVED BY THE BOARD OF DIRECTORS. ADDITIONAL AWARDS WILL BE MADE ANNUALLY TO THIS PLAN BASED ON AN EARNING FORMULA AND INDEX AS DEFINED IN THE PLAN AGREEMENT. VESTING REQUIREMENTS, AS DEFINED IN THE PLAN AGREEMENT, MUST BE MET BEFORE A PARTICIPANT IS ELIGIBLE TO RECEIVE ANY COMPENSATION UNDER THIS PLAN. SCHEDULE J, PART II COLUMN (C) INCLUDES CONTRIBUTIONS AND EARNINGS ON THE 475(F) PLAN AS FOLLOWS: TIMOTHY SULLIVAN $41,476
SCHEDULE J, PART II
SCHEDULE J, PART II, COLUMN B(I) BASE COMPENSATION IS EQUAL TO MEDICARE WAGES EXCLUDING THE FOLLOWING COMPENSATION COMPONENTS, IF APPLICABLE: - BONUS - PTO CASH OUT - HEALTH INSURANCE EQUALIZER (CASH IN LIEU/WAIVER PAYOUT) - EMPLOYER PROVIDED AUTOMOBILE TAXABLE BENEFIT AMOUNT *MEDICARE WAGES (W2 BOX 5) - MEDICARE WAGES DEFINED AS GROSS WAGES LESS: - EMPLOYEE HSA CONTRIBUTION - ALL EMPLOYEE PAID MEDICAL PREMIUMS (HEALTH, DENTAL, VISION) SCHEDULE J, PART II, COLUMN B(II) BONUS & INCENTIVE COMPENSATION - THIS IS BONUS PAID OUT IN THE 990 CALENDAR YEAR, FOR WH, BONUS PAID IN THE CURRENT YEAR IS FOR THE PREVIOUS YEAR PERFORMANCE. SCHEDULE J, PART II, COLUMN B(III) OTHER REPORTABLE COMPENSATION - PTO CASH OUT - HEALTH INSURANCE EQUALIZER (CASH IN LIEU/WAIVER PAYOUT) - EMPLOYER PROVIDED AUTOMOBILE-TAXABLE BENEFIT AMOUNT SCHEDULE J, PART II, COLUMN C RETIREMENT AND OTHER DEFERRED COMPENSATION - EMPLOYER 401K CONTRIBUTION - DISCRETIONARY CONTRIBUTIONS TO DEFINED CONTRIBUTION PLAN - DEFERRED COMPENSATION ALLOCATION (NOT SUBSTANTIALLY VESTED) - EMPLOYER CONTRIBUTIONS TO 457(B) PLAN - EMPLOYER DISCRETIONARY ALLOCATIONS TO 457(F) PLAN SCHEDULE J, PART II, COLUMN D NONTAXABLE BENEFITS - INSURANCE PREMIUMS PAID BY THE EMPLOYER THAT ARE NONTAXABLE - HEALTH, VISION, DENTAL, LIFE, LONG-TERM DISABILITY AND LONG-TERM CARE - CAFETERIA PLANS (NON-TAXABLE) - ALL EMPLOYEE PAID PRETAX INSURANCE PREMIUMS (HEALTH, DENTAL, VISION)

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

  • WRIGHT-HENNEPIN ELECTRIC TRUST

    501(C)(3) · PROVIDES A FUNDING SOURCE FOR OTHER NON-PROFIT ORGANIZATIONS · MN · controlled entity

    Directly controlled by WRIGHT-HENNEPIN COOPERATIVE ELECTRIC ASSOCIATION

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • WH GENERATION LLC

    BACK UP POWER SOLUTIONS · MN

    Directly controlled by WRIGHT HENNEPIN HOLDING COMPANY

  • WH SERVICES LLC

    ELECTRICAL, PLUMBING, HEATING AND COLLING INSTALLATION AND REPAIRS · MN

    Directly controlled by WRIGHT HENNEPIN HOLDING COMPANY

  • WH SECURITY LLC

    INSTALLS, SERVICES AND MONITORS HOME AND COMMERCIAL SECURITY SYSTEMS · MN

    Directly controlled by WRIGHT HENNEPIN HOLDING COMPANY

  • WH INTERNATIONAL RESPONSE CENTER LLC

    SECURITY SYSTEM ALARM MONITORING FACILITY · MN

    Directly controlled by WRIGHT HENNEPIN HOLDING COMPANY

  • WH HOLDING INVESTMENTS LLC

    INVESTMENT HOLDING COMPANY · MN

    Directly controlled by WRIGHT HENNEPIN HOLDING COMPANY

  • WH SOLAR LLC

    PRODUCES SOLAR POWER; DESIGNS, CONSTRUCTS, AND OPERATES SOLAR ARRAYS · MN

    Directly controlled by WRIGHT HENNEPIN HOLDING COMPANY

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • HEARTLAND SERVICES LLC

    UNRELATED · ENGINEERING · MN · 50% owned · general or managing partner

    Directly controlled by WRIGHT-HENNEPIN HOLDING COMPANY

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • WRIGHT-HENNEPIN HOLDING COMPANY

    C · SEE SCHEDULE R, PART VII FOR DESCRIPTION OF PRIMARY ACTIVITY. · MN · 100% owned · share of income $580,778 · share of assets $21,244,358 · controlled entity

    Directly controlled by WRIGHT-HENNEPIN COOPERATIVE ELECTRIC ASSOCIATION

Provenance

Return type
form_990
Tax year
2023
Filed
22 August 2024
IRS schema version
2023v5.1
Source object
202412369349300016

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