SOUTHERN IOWA ELECTRIC COOPERATIVE INC: Form 990, tax year 2023
View the entire original 990 at ProPublica ↗
- Organization
- SOUTHERN IOWA ELECTRIC COOPERATIVE INC (EIN 42-0536190)
- Tax period
- 2023-01-01 to 2023-12-31
- Filed
- 2024-06-28
- IRS object ID
- 202441809349300434
- Schema version
- 2023v5.1
- 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) |
|---|---|---|
| Return | 2024-06-28T10:59:39-05:00 | ReturnTs |
| Tax Period End | 2023-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 410746749 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | CLIFTONLARSONALLEN LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2689 COMMERCE DRIVE NW SUITE 201 | AddressLine1Txt |
| City | ROCHESTER | CityNm |
| State Abbreviation | MN | StateAbbreviationCd |
| ZIP | 55901 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2023-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 420536190 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | SOUTHERN IOWA ELECTRIC COOPERATIVE INC | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | SOUT | BusinessNameControlTxt |
| Phone | 6416642277 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 70 | AddressLine1Txt |
| City | BLOOMFIELD | CityNm |
| State Abbreviation | IA | StateAbbreviationCd |
| ZIP | 52537 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | GREG PROCTOR | PersonNm |
| Person Title | GENERAL MANAGER/CEO | PersonTitleTxt |
| Phone | 6416642277 | PhoneNum |
| Signature | 2024-06-28 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Signing Officer SigningOfficerGrp
Person Full Name PersonFullName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person First | GREG | PersonFirstNm |
| Person Last | PROCTOR | PersonLastNm |
| Field | Value | IRS element (for citing) |
|---|---|---|
| SSN | 999009999 | SSN |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | 0 | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | KATHERINE LUTZKE CPA | PreparerPersonNm |
| PTIN | P01760889 | PTIN |
| Phone | 5072802300 | PhoneNum |
| Preparation | 2024-06-28 | PreparationDt |
Additional Filer Information AdditionalFilerInformation
Trusted Customer TrustedCustomerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Trusted Customer | 3 | TrustedCustomerCd |
| Authentication Assurance Level | AAL1 | AuthenticationAssuranceLevelCd |
| Identity Assurance Level | IAL1 | IdentityAssuranceLevelCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2023 | TaxYr |
| Build TS | 2023-04-26 12:10:37Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | GREG PROCTOR | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 70 | AddressLine1Txt |
| City | BLOOMFIELD | CityNm |
| State Abbreviation | IA | StateAbbreviationCd |
| ZIP | 52537 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $14,685,046 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | WWW.SIE.COOP | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1939 | FormationYr |
| Legal Domicile State | IA | LegalDomicileStateCd |
| Activity Or Mission | PROVIDING SAFE, RELIABLE ELECTRICITY. | ActivityOrMissionDesc |
| Voting Members Governing Body | 9 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 9 | VotingMembersIndependentCnt |
| Total Employee | 27 | TotalEmployeeCnt |
| Total Volunteers | 0 | TotalVolunteersCnt |
| Total Gross UBI | -$46 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $13,904,409 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $13,933,079 | CYProgramServiceRevenueAmt |
| PY Investment Income | $49,870 | PYInvestmentIncomeAmt |
| CY Investment Income | $78,170 | CYInvestmentIncomeAmt |
| PY Other Revenue | $251,154 | PYOtherRevenueAmt |
| CY Other Revenue | $673,797 | CYOtherRevenueAmt |
| PY Total Revenue | $14,205,433 | PYTotalRevenueAmt |
| CY Total Revenue | $14,685,046 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $0 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $0 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $1,089,014 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $1,152,008 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $449,199 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $386,893 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $12,667,338 | PYOtherExpensesAmt |
| CY Other Expenses | $13,146,248 | CYOtherExpensesAmt |
| PY Total Expenses | $14,205,551 | PYTotalExpensesAmt |
| CY Total Expenses | $14,685,149 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | -$118 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | -$103 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $52,067,629 | TotalAssetsBOYAmt |
| Total Assets EOY | $56,556,562 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $27,379,511 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $31,082,982 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $24,688,118 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $25,473,580 | NetAssetsOrFundBalancesEOYAmt |
| Mission | PROVIDING SAFE, RELIABLE ELECTRICITY. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Desc | SALE ELECTRICITY - TO PROVIDE ELECTRIC ENERGY AND SERVICES TO APPROXIMATELY 4,780 METERS. | Desc |
| Described In Section501c3 | 0 | DescribedInSection501c3Ind |
| Schedule B Required | 0 | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | 0 | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | Yes (1) | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (1) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | 0 | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | 0 | GrantsToOrganizationsInd |
| Grants To Individuals | 0 | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | Yes (1) | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | 0 | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | Yes (1) | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 25 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Employee | 27 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | 0 | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Members And Shr Gross Income | $14,108,976 | MembersAndShrGrossIncomeAmt |
| Other Sources Gross Income | $751,909 | OtherSourcesGrossIncomeAmt |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 9 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 9 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | Yes (1) | MembersOrStockholdersInd |
| Election Of Board Members | Yes (1) | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | Yes (1) | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | 0 | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (1) | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| Other Website | Yes (X) | OtherWebsiteInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | LINDSAY SMITH | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 6416642277 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 70 | AddressLine1Txt |
| City | BLOOMFIELD | CityNm |
| State Abbreviation | IA | StateAbbreviationCd |
| ZIP | 52537 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (12 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Average Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt |
|---|---|---|---|---|---|---|---|
| DARRELL DOWNING | |||||||
| PRESIDENT | 7.00 | 0.00 | Yes (X) | Yes (X) | $2,520 | $0 | $0 |
| TRAVIS HARRIS | |||||||
| VICE PRESIDENT | 4.00 | 0.00 | Yes (X) | Yes (X) | $4,320 | $0 | $0 |
| EARL TRACHSEL | |||||||
| SECRETARY | 4.00 | 0.00 | Yes (X) | Yes (X) | $3,240 | $0 | $0 |
| DAVID YAHNKE | |||||||
| TREASURER | 4.00 | 0.00 | Yes (X) | Yes (X) | $1,800 | $0 | $0 |
| SUSAN KNAPP | |||||||
| DIRECTOR | 1.00 | 0.00 | Yes (X) | $1,800 | $0 | $0 | |
| JASON WELLS | |||||||
| DIRECTOR | 1.00 | 0.00 | Yes (X) | $1,800 | $0 | $0 | |
| RODNEY RECK | |||||||
| DIRECTOR | 4.00 | 0.00 | Yes (X) | $1,800 | $0 | $0 | |
| TRENT GREGORY | |||||||
| DIRECTOR | 2.00 | 0.00 | Yes (X) | $1,800 | $0 | $0 | |
| FRED ZEITLER | |||||||
| DIRECTOR | 1.00 | 0.00 | Yes (X) | $1,620 | $0 | $0 | |
| RYAN DAVIS | |||||||
| DIRECTOR | 1.00 | 0.00 | Yes (X) | $540 | $0 | $0 | |
| GREG PROCTOR | |||||||
| MANAGER/CEO | 50.00 | 0.00 | Yes (X) | $148,660 | $0 | $60,235 | |
| ROSS HUNTER | |||||||
| COO | 50.00 | 0.00 | Yes (X) | $104,031 | $0 | $52,727 | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $273,931 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $112,962 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 2 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (2 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| WA KENDALL AND COMPANY LLC | |||||
| 400 FARMER CT | LAWRENCEVILLE | GA | 30046 | RIGHT OF WAY CLEARING | $156,954 |
| TOM'S TREE SERVICE | |||||
| 1313 S MAIN ST | ALBIA | IA | 52531 | RIGHT OF WAY CLEARING | $136,158 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 2 | CntrctRcvdGreaterThan100KCnt |
Program Service Revenue ProgramServiceRevenueGrp (2 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| SALE OF POWER | 221000 | $13,806,252 | $13,806,252 |
| OTHER ELECTRIC REVENUE | 221000 | $126,827 | $126,827 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $13,933,079 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $78,008 | TotalRevenueColumnAmt |
| Exclusion | $78,008 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $162 | OtherAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $0 | OtherAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $162 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $162 | TotalRevenueColumnAmt |
| Exclusion | $162 | ExclusionAmt |
Other Revenue Misc OtherRevenueMiscGrp (2 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt | Unrelated Business RevenueUnrelatedBusinessRevenueAmt |
|---|---|---|---|---|
| CAPITAL CREDITS | 221000 | $673,843 | $673,843 | |
| APRIME K-1 | 221000 | -$46 | -$46 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $673,797 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $14,685,046 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $14,606,922 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | -$46 | UnrelatedBusinessRevenueAmt |
| Exclusion | $78,170 | ExclusionAmt |
Benefits To Members BenefitsToMembersGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,152,008 | TotalAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $386,893 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $881,387 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,418,422 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| COST OF POWER | $7,463,362 |
| DIST EXP-OPERATIONS | $1,267,839 |
| DIST EXP-MAINTENANCE | $967,535 |
| ADMIN & GENERAL EXPENSE | $720,846 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $426,857 | TotalAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $14,685,149 | TotalAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,182,788 | BOYAmt |
| EOY | $1,877,832 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,381,695 | BOYAmt |
| EOY | $1,244,723 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,465,633 | BOYAmt |
| EOY | $4,511,737 | EOYAmt |
Inventories For Sale Or Use InventoriesForSaleOrUseGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $574,418 | BOYAmt |
| EOY | $754,683 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $225,233 | BOYAmt |
| EOY | $156,605 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $52,964,985 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $12,165,419 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $40,381,856 | BOYAmt |
| EOY | $40,799,566 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $13,414 | BOYAmt |
| EOY | $13,269 | EOYAmt |
Investments Program Related InvestmentsProgramRelatedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $6,842,592 | BOYAmt |
| EOY | $7,198,147 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $52,067,629 | BOYAmt |
| EOY | $56,556,562 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,193,314 | BOYAmt |
| EOY | $1,222,858 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $331,979 | BOYAmt |
| EOY | $178,283 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $25,676,386 | BOYAmt |
| EOY | $29,498,812 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $177,832 | BOYAmt |
| EOY | $183,029 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $27,379,511 | BOYAmt |
| EOY | $31,082,982 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Org Does Not Follow FASB117 | Yes (X) | OrgDoesNotFollowFASB117Ind |
Cap Stk Tr Prin Current Funds CapStkTrPrinCurrentFundsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Pd In Cap Srpls Land Bldg Eqp Fund PdInCapSrplsLandBldgEqpFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $24,688,118 | BOYAmt |
| EOY | $25,473,580 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $24,688,118 | BOYAmt |
| EOY | $25,473,580 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $52,067,629 | BOYAmt |
| EOY | $56,556,562 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | -$103 | ReconcilationRevenueExpnssAmt |
| Other Changes In Net Assets | $785,565 | OtherChangesInNetAssetsAmt |
| Info In Schedule O Part XII | Yes (X) | InfoInScheduleOPartXIIInd |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule D IRS990ScheduleD
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $161,644 | OtherCostOrOtherBasisAmt |
| Book Value | $161,644 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $5,731,547 | OtherCostOrOtherBasisAmt |
| Depreciation | $1,763,320 | DepreciationAmt |
| Book Value | $3,968,227 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $47,071,794 | OtherCostOrOtherBasisAmt |
| Depreciation | $10,402,099 | DepreciationAmt |
| Book Value | $36,669,695 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $40,799,566 | TotalBookValueLandBuildingsAmt |
Invst Program Related Org InvstProgramRelatedOrgGrp (5 entries)
| DescDesc | Book ValueBookValueAmt | Method ValuationMethodValuationCd |
|---|---|---|
| NORTHEAST POWER PATRONAGE | $6,334,875 | C |
| NRUCFC PATRONAGE | $89,874 | C |
| NRUCFC CAPITAL CERTIFICATES | $399,833 | C |
| OTHER COOPERATIVES PATRONAGE | $355,784 | C |
| COOPERATIVE MEMBERSHIPS | $17,781 | C |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Program Rltd | $7,198,147 | TotalBookValueProgramRltdAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (2 entries)
| DescDesc | AmtAmt |
|---|---|
| ACCUMULATED PROVISION FOR PENSION & BENEFITS | $67,976 |
| CONSUMER DEPOSITS | $115,053 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $183,029 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $14,685,150 | TotalRevEtcAuditedFinclStmtAmt |
| Other Revenue | $58 | OtherRevenueAmt |
| Revenue Not Reported | $58 | RevenueNotReportedAmt |
| Revenue Subtotal | $14,685,092 | RevenueSubtotalAmt |
| Other Revenues Not Included | -$46 | OtherRevenuesNotIncludedAmt |
| Revenue Not Reported Fincl Stmt | -$46 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $14,685,046 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $13,533,141 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Not Reported | $0 | ExpensesNotReportedAmt |
| Expenses Subtotal | $13,533,141 | ExpensesSubtotalAmt |
| Other Expenses Not Included | $1,152,008 | OtherExpensesNotIncludedAmt |
| Expenses Not Rpt Fincl Stmt | $1,152,008 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $14,685,149 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (4 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART X, LINE 2: | THE COOPERATIVE IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(12) OF THE INTERNAL REVENUE CODE. ACCORDINGLY, NO PROVISION FOR INCOME TAXES HAS BEEN RECORDED AT DECEMBER 31, 2023 AND 2022. THE COOPERATIVE EVALUATED ITS TAX POSITIONS AND DETERMINED THAT IT HAS NO UNCERTAIN TAX POSITIONS AS OF DECEMBER 31, 2023 AND 2022. |
| PART XI, LINE 2D - OTHER ADJUSTMENTS: | EQUITY IN EARNINGS OF SUB 58. |
| PART XI, LINE 4B - OTHER ADJUSTMENTS: | APRIME K-1 -46. |
| PART XII, LINE 4B - OTHER ADJUSTMENTS: | PATRONAGE DIVIDENDS ALLOCATED 1,152,008. |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form990 Of Other Organizations | Yes (X) | Form990OfOtherOrganizationsInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | 0 | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (2 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Bonus Related OrganizationsBonusRelatedOrganizationsAmt | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt | Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| GREG PROCTOR | ||||||||||||||
| MANAGER/CEO | $148,660 | $0 | $0 | $0 | $0 | $0 | $27,928 | $0 | $32,307 | $0 | $208,895 | $0 | $0 | $0 |
| ROSS HUNTER | ||||||||||||||
| COO | $104,031 | $0 | $0 | $0 | $0 | $0 | $21,117 | $0 | $31,610 | $0 | $156,758 | $0 | $0 | $0 |
Schedule L IRS990ScheduleL
Bus Tr Involve Interested Prsn BusTrInvolveInterestedPrsnGrp (2 entries)
| Relationship DescriptionRelationshipDescriptionTxt | TransactionTransactionAmt | TransactionTransactionDesc | Sharing Of RevenuesSharingOfRevenuesInd |
|---|---|---|---|
| EARL TRACHSEL | |||
| SEE BELOW | $7,463,362 | SEE BELOW | 0 |
| DARRELL DOWNING | |||
| SEE BELOW | $7,463,362 | SEE BELOW | 0 |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | SCH L, PART IV, BUSINESS TRANSACTIONS INVOLVING INTERESTED PERSONS: | FormAndLineReferenceDesc |
| Explanation | (A) NAME OF PERSON: EARL TRACHSEL(B) RELATIONSHIP BETWEEN INTERESTED PERSON AND ORGANIZATION: BOARD MEMBER OF SOUTHERN IOWA ELECTRIC COOPERATIVE, INC. AND BOARD MEMBER OF NORTHEAST MISSOURI ELECTRIC POWER COOPERATIVE(D) DESCRIPTION OF TRANSACTION: SOUTHERN IOWA ELECTRIC COOPERATIVE PURCHASED POWER FROM NORTHEAST MISSOURI ELECTRIC POWER COOPERATIVE IN 2023 FOR A TOTAL OF $7,463,362(A) NAME OF PERSON: DARRELL DOWNING(B) RELATIONSHIP BETWEEN INTERESTED PERSON AND ORGANIZATION: BOARD MEMBER OF SOUTHERN IOWA ELECTRIC COOPERATIVE, INC. AND BOARD MEMBER OF NORTHEAST MISSOURI ELECTRIC POWER COOPERATIVE(D) DESCRIPTION OF TRANSACTION: SOUTHERN IOWA ELECTRIC COOPERATIVE PURCHASED POWER FROM NORTHEAST MISSOURI ELECTRIC POWER COOPERATIVE IN 2023 FOR A TOTAL OF $7,463,362 | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (12 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 6 | EACH CUSTOMER IS A MEMBER OF THE COOPERATIVE AND HAS VOTING RIGHTS AT THE ANNUAL MEETING. EACH MEMBER HAS 1 VOTE (JOINT MEMBERS SHARE 1 VOTE). |
| FORM 990, PART VI, SECTION A, LINE 7A | THE BOARD MEMBERS ARE ELECTED ON A ROTATIONAL BASIS - BY A VOTE OF THE MEMBERS AT THE ANNUAL MEETING. |
| FORM 990, PART VI, SECTION A, LINE 7B | CHANGES TO THE ARTICLES OF INCORPORATION MUST BE VOTED ON BY THE MEMBERS, ELECTING DIRECTORS IS VOTED ON BY THE MEMBERS AND SELLING THE COOPERATIVE HAS TO BE VOTED ON BY THE MEMBERS. |
| FORM 990, PART VI, SECTION A, LINE 8B | THE ORGANIZATION DOES NOT HAVE ANY COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. |
| FORM 990, PART VI, SECTION B, LINE 11B | THE MANAGER WILL REVIEW THE 990 BEFORE IT IS FILED, HE WILL THEN CONDUCT A REVIEW WITH THE BOARD. |
| FORM 990, PART VI, SECTION B, LINE 12C | THE BOARD REVIEWS THE CONFLICT OF INTEREST POLICY ON AN ANNUAL BASIS WITH GENERAL COUNSEL GUIDANCE. FOLLOWING THE REVIEW THE BOARD COMPLETES A CONFLICT OF INTEREST DISCLOSURE STATEMENT. IT IS THE MANAGER'S RESPONSIBILITY TO PROVIDE ASSISTANCE TO THE BOARD TO ASSURE COMPLIANCE WITH THIS POLICY AND TO DEVELOP AND ENFORCE APPROPRIATE MANAGEMENT POLICY RELATING TO CONFLICTS OF INTEREST OF EMPLOYEES. DIRECTORS AND EMPLOYEES ARE REQUIRED TO MAKE FULL DISCLOSURE TO THE BOARD AND/OR COOPERATIVE OF ANY FACTS WHICH MAY INDICATE A CONFLICT OF INTEREST. THEY SHALL DISQUALIFY THEMSELVES FROM DECISIONS WHICH POSE A CONFLICT OF INTEREST OR THE APPEARANCE OF A CONFLICT OF INTEREST. THEY MAY REQUEST AN OPINION OF THE COOPERATIVE'S GENERAL COUNSEL BEFORE SUCH ACTION IS TAKEN. |
| FORM 990, PART VI, SECTION B, LINE 15 | THE BOARD EVALUATES THE MANAGER/CEO PERFORMANCE AND LOOKS AT INDUSTRY STANDARDS FOR OTHER COOPERATIVES OF LIKE SIZE FOR A COMPARABLE SALARY RANGE. THIS PROCESS IS DOCUMENTED IN THE PERSONNEL FILE. THE CFO AND COO ARE EVALUATED ON AN ANNUAL BASIS USING THE NRECA ANNUAL COMPENSATION STUDY AS A GUIDELINE. THE MANAGER/CEO IS RESPONSIBLE FOR GIVING PAY ADJUSTMENTS, BUT THE BOARD APPROVES A SALARY RANGE. THIS PROCESS IS DOCUMENTED IN THE PERSONNEL FILE. THE PROCESS DESCRIBED HERE WAS LAST COMPLETED IN 2023. |
| FORM 990, PART VI, SECTION C, LINE 18 | THE COOPERATIVE'S 990 AND 990T ARE AVAILABLE UPON REQUEST AND AT WWW.GUIDESTAR.ORG. BYLAWS OF THE COOPERATIVE ARE PROVIDED TO EACH MEMBER. |
| FORM 990, PART VI, SECTION C, LINE 19 | POLICIES OF THE COOPERATIVE ARE AVAILABLE FOR INSPECTION AT THE COOPERATIVE UPON REQUEST. |
| FORM 990, PART XI, LINE 9: | A-PRIME 46. CAPITAL CREDITS RETIRED -400,002. CITY OF BLOOMFIELD/KEO CCS 66,759. EQUITY IN EARNINGS OF SUB 58. ESTATE PAYOUTS -32,952. PATRONAGE DIVIDENDS ALLOCATED 1,152,008. UNCLAIMED PROPERTY -352. |
| FORM 990, PART XII, LINE 2C: | THE BOARD OF DIRECTORS AND MANAGEMENT REVIEW THE AUDIT WITH THE AUDITOR ANNUALLY. THERE IS NO CHANGE FROM PRIOR YEARS. |
| 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 DIVIDENDS 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. |
Schedule R IRS990ScheduleR
Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp
Disregarded Entity Name DisregardedEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | SIEC COMMUNITY SUPPORT FUND | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 70 | AddressLine1Txt |
| City | BLOOMFIELD | CityNm |
| State Abbreviation | IA | StateAbbreviationCd |
| ZIP | 52537 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 320430257 | EIN |
| Primary Activities | COMMUNITY SUPPORT FUND | PrimaryActivitiesTxt |
| Legal Domicile State | IA | LegalDomicileStateCd |
| Exempt Code Section | 501(C)(3) | ExemptCodeSectionTxt |
| Public Charity Status | LINE 8 | PublicCharityStatusTxt |
Direct Controlling Entity Name DirectControllingEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | SOUTHERN IOWA ELECTRIC COOPERATIVE | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Controlled Organization | Yes (1) | ControlledOrganizationInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | 0 | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | 0 | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | 0 | GiftGrntCapContriFromOthOrgInd |
| Loans Or Guarantees To Other Org | 0 | LoansOrGuaranteesToOtherOrgInd |
| Loans Or Guarantees From Oth Org | 0 | LoansOrGuaranteesFromOthOrgInd |
| Div Related Organization | 0 | DivRelatedOrganizationInd |
| Asset Sale To Other Org | 0 | AssetSaleToOtherOrgInd |
| Asset Purchase From Other Org | 0 | AssetPurchaseFromOtherOrgInd |
| Asset Exchange | 0 | AssetExchangeInd |
| Rental Of Facilities To Oth Org | 0 | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | 0 | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | Yes (1) | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | 0 | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | 0 | SharingOfFacilitiesInd |
| Paid Employees Sharing | 0 | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | 0 | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | 0 | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | 0 | TransferToOtherOrgInd |
| Transfer From Other Org | 0 | TransferFromOtherOrgInd |