Form 990 for tax year 2025

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: SALE OF ELECTRICITY

  total $133,787,364 · related or exempt $133,787,364

• 3 · Investment income

  total $218,856 · excluded $218,856

• 6a · Gross rents

  real property $42,000

• 6b · Less rental expenses

  real property $4,528

• 6c · Rental income or loss

  real property $37,472

• 6d · Net rental income or loss

  total $37,472 · excluded $37,472

• 7a · Gross sales of assets other than inventory

  other assets $34,500

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

  other assets $0

• 7c · Gain or loss

  other assets $34,500

• 7d · Net gain or loss

  total $34,500 · excluded $34,500

• 11a · Other revenue: CAPITAL CREDITS

  total $8,061,507 · related or exempt $8,061,507

• 11b · Other revenue: INCOME FROM SUBSIDIARY

  total $1,795,249 · related or exempt $1,795,249

• 11c · Other revenue: EMPLOYEE RETENTION CREDIT

  total $1,521,442 · excluded $1,521,442

• 11d · All other revenue

  total $14,060 · related or exempt $14,060

• 11e · Other revenue, total

  $11,392,258

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $16,600

• 2 · Grants to domestic individuals

  total $6,000

• 4 · Benefits paid to or for members

  total $12,723,182

• 5 · Compensation of officers, directors and key employees

  total $2,607,379

• 20 · Interest

  total $5,421,475

• 22 · Depreciation, depletion and amortization

  total $8,362,769

• 24a · Other expenses: COST OF POWER

  total $90,119,166

• 24b · Other expenses: DISTRIBUTION - OPERATIO

  total $6,849,264

• 24c · Other expenses: DISTRIBUTION - MAINTENA

  total $5,096,599

• 24d · Other expenses: ADMINISTRATIVE AND GENE

  total $4,295,783

• 24e · All other expenses

  total $5,153,895

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $1,122,146 · end of year $3,884,307

• 4 · Accounts receivable

  beginning of year $7,952,767 · end of year $11,199,112

• 7 · Other notes and loans receivable

  beginning of year $2,339 · end of year $2,340

• 8 · Inventories for sale or use

  beginning of year $5,369,456 · end of year $6,014,041

• 9 · Prepaid expenses and deferred charges

  beginning of year $763,820 · end of year $651,122

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

  $288,871,905

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

  $95,688,985

• 10c · Land, buildings and equipment, net

  beginning of year $175,466,692 · end of year $193,182,920

• 12 · Investments: other securities

  beginning of year $26,483,539 · end of year $27,551,828

• 13 · Investments: program-related

  beginning of year $60,267,128 · end of year $67,237,780

• 15 · Other assets

  beginning of year $6,863,827 · end of year $7,702,682

• 17 · Accounts payable and accrued expenses

  beginning of year $23,147,214 · end of year $24,112,627

• 19 · Deferred revenue

  beginning of year $7,273,409 · end of year $6,212,857

• 21 · Escrow or custodial account liability

  beginning of year $43,772 · end of year $44,435

• 23 · Secured mortgages and notes payable

  beginning of year $122,974,699 · end of year $149,382,535

• 24 · Unsecured notes and loans payable

  beginning of year $13,200,000 · end of year $6,500,000

• 25 · Other liabilities

  beginning of year $8,544,909 · end of year $7,684,206

• 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 $109,107,711 · end of year $123,489,472

The filer's explanations (Part III)

PART I, LINES 4A-B

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: TIMOTHY SULLIVAN $52,252 SUSAN SONRENSEN $35,455 ROBERT SANDBERG $31,738 JENNIFER SEVERSON $26,722 LEE NORDBY $25,829 CURTIS CORDT $26,200 MARTHA WEST $23,229 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 (B)(II) INCLUDES CONTRIBUTIONS AND EARNINGS ON THE 457(F) PLAN AS FOLLOWS: TIMOTHY SULLIVAN $42,633 ROBERT SANDBERG $18,741 MARTHA WEST RECEIVED A SEVERANCE PAYMENT IN THE AMOUNT OF $45,775.

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 - BONUS PAID OUT IN THE 990 CALENDAR YEAR, FOR WH, BONUS PAID IN THE CURRENT YEAR IS FOR THE PREVIOUS YEAR PERFORMANCE - 457(F) CONTRIBUTIONS AND EARNINGS FOR PARTICIPANTS IN THE SECOND PLAN AS NOTED ABOVE 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) PARTICIPANTS IN THE FIRST PLAN AS NOTED ABOVE 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)

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 · 7.69% 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 $8,767,112 · share of assets $23,492,792 · controlled entity

  Directly controlled by WRIGHT-HENNEPIN COOPERATIVE ELECTRIC ASSOCIATION