FEDERATED RURAL ELECTRIC ASSOCIATION: Form 990, tax year 2023
View the entire original 990 at ProPublica ↗
- Organization
- FEDERATED RURAL ELECTRIC ASSOCIATION (EIN 41-0252540)
- Tax period
- 2023-01-01 to 2023-12-31
- Filed
- 2024-11-06
- IRS object ID
- 202423119349303667
- 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 | 2024-11-06T15:51:04-06:00 | ReturnTs |
| Tax Period End | 2023-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 450310328 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | BRADY MARTZ & ASSOCIATES PC | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 14296 | AddressLine1Txt |
| City | GRAND FORKS | CityNm |
| State Abbreviation | ND | StateAbbreviationCd |
| ZIP | 582084296 | 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 | 410252540 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | FEDERATED RURAL ELECTRIC | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | FEDE | BusinessNameControlTxt |
| Phone | 5078473520 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 77100 US HWY 71 | AddressLine1Txt |
| City | JACKSON | CityNm |
| State Abbreviation | MN | StateAbbreviationCd |
| ZIP | 56143 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | SCOTT REIMER | PersonNm |
| Person Title | GENERAL MANAGER | PersonTitleTxt |
| Phone | 5078473520 | PhoneNum |
| Signature | 2024-11-04 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | Yes (1) | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | DAVID HOLT | PreparerPersonNm |
| PTIN | P00014251 | PTIN |
| Phone | 7017754685 | PhoneNum |
| Preparation | 2024-11-01 | PreparationDt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2023 | TaxYr |
| Build TS | 2024-10-15 13:58:12Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | SCOTT REIMER | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 77100 US HWY 71 | AddressLine1Txt |
| City | JACKSON | CityNm |
| State Abbreviation | MN | StateAbbreviationCd |
| ZIP | 56143 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $44,054,869 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | HTTPS://WWW.FEDERATEDREA.COOP/ | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1935 | FormationYr |
| Legal Domicile State | MN | LegalDomicileStateCd |
| Activity Or Mission | TO DISTRIBUTE ENERGY AND SERVICES IN A COST EFFECTIVE, RELIABLE, AND EFFICIENT MANNER. | ActivityOrMissionDesc |
| Voting Members Governing Body | 7 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 7 | VotingMembersIndependentCnt |
| Total Employee | 30 | TotalEmployeeCnt |
| Total Volunteers | 0 | TotalVolunteersCnt |
| Total Gross UBI | $1,663,671 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $62,784 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $39,596,269 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $41,594,550 | CYProgramServiceRevenueAmt |
| PY Investment Income | $127,382 | PYInvestmentIncomeAmt |
| CY Investment Income | $338,641 | CYInvestmentIncomeAmt |
| PY Other Revenue | $843,018 | PYOtherRevenueAmt |
| CY Other Revenue | $1,702,979 | CYOtherRevenueAmt |
| PY Total Revenue | $40,566,669 | PYTotalRevenueAmt |
| CY Total Revenue | $43,636,170 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $17,859 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $19,296 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $2,321,232 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $2,104,231 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $2,952,009 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $3,027,730 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $34,961,421 | PYOtherExpensesAmt |
| CY Other Expenses | $37,085,123 | CYOtherExpensesAmt |
| PY Total Expenses | $40,252,521 | PYTotalExpensesAmt |
| CY Total Expenses | $42,236,380 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $314,148 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $1,399,790 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $81,081,160 | TotalAssetsBOYAmt |
| Total Assets EOY | $82,382,527 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $35,807,587 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $35,156,334 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $45,273,573 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $47,226,193 | NetAssetsOrFundBalancesEOYAmt |
| Mission | FEDERATED RURAL ELECTRIC ASSOCIATION IS COMMITTED TO PROVIDING SAFE, RELIABLE, AND AFFORDABLE ENERGY AND OTHER ESSENTIAL SERVICES TO OUR MEMBER-OWNERS, WHILE ENHANCING THE LIVES OF THOSE WE SERVE. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Desc | TO PROVIDE RELIABLE ELECTRIC SERVICE TO OVER 5,275 MEMBERS. WITHOUT THE FORMATION OF THIS COOPERATIVE, THESE MEMBERS WOULD NOT HAVE RECEIVED ELECTRIC SERVICE IN 1935. SINCE THAT TIME WE HAVE CONSISTENTLY PROVIDED SERVICE TO ALL RURAL CUSTOMERS IN JACKSON AND MARTIN COUNTIES IN MINNESOTA AS WELL AS SOME SMALLER TOWNS. IN ADDITION, WE PROVIDE ELECTRIC SERVICE TO BOUNDARY CUSTOMERS OF 11 ADDITIONAL COUNTIES INCLUDING APPROXIMATELY 60 MEMBERS IN IOWA. | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | THE COOPERATIVE'S ACQUISITION OF A FIXED INTERNET COMPANY WITH 1,100 CUSTOMERS IN 2021 WAS THE START OF THE BROADBAND DIVISION "FEDERATED BROADBAND." INTERNET SERVICES WERE PROVIDED TO APPROXIMATELY 1,600 CUSTOMERS BY THE END OF 2023. THE COOPERATIVE WAS AWARDED TWO BROADBAND GRANTS TO BUILD FIBER TO THE HOME AND HELP SERVICE AREAS WITHIN AND OVERLAPPING THE ELECTRIC SERVICE TERRITORY. | Desc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| 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 | 0 | 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 | Yes (1) | RelatedOrganizationCtrlEntInd |
| Transaction With Control Ent | 0 | TransactionWithControlEntInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 103 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 30 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | Yes (1) | UnrelatedBusIncmOverLimitInd |
| Form990 T Filed | Yes (1) | Form990TFiledInd |
| 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 | $41,985,777 | MembersAndShrGrossIncomeAmt |
| Other Sources Gross Income | $1,722,106 | 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 | 7 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 7 | 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 | 0 | CompensationProcessOtherInd |
| Investment In Joint Venture | Yes (1) | InvestmentInJointVentureInd |
| Written Policy Or Procedure | 0 | WrittenPolicyOrProcedureInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | SCOTT REIMER | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 5078473520 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 77100 US HWY 71 | AddressLine1Txt |
| City | JACKSON | CityNm |
| State Abbreviation | MN | StateAbbreviationCd |
| ZIP | 56143 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (14 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|
| DAVID HANSEN | |||||||
| PRESIDENT | 6.00 | Yes (X) | Yes (X) | $15,900 | $0 | $0 | |
| DAVID MESCHKE | |||||||
| VICE PRESIDENT | 4.00 | Yes (X) | Yes (X) | $12,600 | $0 | $0 | |
| DARVIN VOSS | |||||||
| SECRETARY/TREASURER | 4.00 | Yes (X) | Yes (X) | $15,900 | $0 | $0 | |
| BRUCE BROCKMANN | |||||||
| DIRECTOR | 3.00 | Yes (X) | $12,300 | $0 | $0 | ||
| GLENN DICKS | |||||||
| DIRECTOR | 2.00 | Yes (X) | $11,400 | $0 | $0 | ||
| JON SAXEN | |||||||
| DIRECTOR | 2.00 | Yes (X) | $10,650 | $0 | $0 | ||
| SCOTT THIESSE | |||||||
| DIRECTOR | 6.00 | Yes (X) | $15,900 | $0 | $0 | ||
| SCOTT REIMER | |||||||
| GENERAL MANAGER | 40.00 | Yes (X) | $220,147 | $0 | $66,942 | ||
| JULIE RESCH | |||||||
| CFO/OFFICE MANAGER | 40.00 | Yes (X) | $103,878 | $0 | $48,364 | ||
| MATT MADDEN | |||||||
| OPERATIONS MANAGER | 40.00 | $113,526 | $0 | $46,572 | Yes (X) | ||
| KOLLIN VANDEVERE | |||||||
| JACKSON AREA FOREMAN | 40.00 | $105,508 | $0 | $44,671 | Yes (X) | ||
| BRANDON CLARKE | |||||||
| WELCOME FOREMAN | 40.00 | $105,050 | $0 | $49,464 | Yes (X) | ||
| CASEY L SCHOELLERMAR | |||||||
| LINEMAN | 40.00 | $104,891 | $0 | $46,341 | Yes (X) | ||
| ALEX C KUNZ | |||||||
| LINEMAN | 40.00 | $102,389 | $0 | $29,929 | Yes (X) | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $950,039 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $332,283 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 9 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (5 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| ODDSON UNGERGROUND INC | |||||
| PO BOX 233 | WINDOM | MN | 56101 | CONSTRUCTION | $715,401 |
| LOOSEBROCK DIGGING SERVICES INC | |||||
| 221 W 4TH ST | LISMORE | MN | 56155 | CONSTRUCTION | $323,636 |
| CARR'S TREE SERVICE INC | |||||
| PO BOX 250 | OTTERTAIL | MN | 56571 | TREE TRIMMING | $320,773 |
| STAR ENERGY SERVICES LLC | |||||
| 6841 POWER LANE SW | ALEXANDRIA | MN | 56308 | ENGINEERING | $219,812 |
| FINLEY ENGINEERING COMPANY INC | |||||
| 1981 ENGEBRETSON ST | SLAYTON | MN | 56172 | ENGINEERING/PROFESSIONAL SERVICES | $126,552 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 7 | CntrctRcvdGreaterThan100KCnt |
Program Service Revenue ProgramServiceRevenueGrp (2 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt | Unrelated Business RevenueUnrelatedBusinessRevenueAmt |
|---|---|---|---|---|
| ELECTRIC SALES | 221000 | $39,292,768 | $39,292,768 | |
| BROADBAND REVENUE | 517000 | $2,301,782 | $714,863 | $1,586,919 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $41,594,550 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $276,665 | TotalRevenueColumnAmt |
| Exclusion | $276,665 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $84,100 | OtherAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $22,124 | OtherAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $61,976 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $61,976 | TotalRevenueColumnAmt |
| Exclusion | $61,976 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Sales Of Inventory | $168,111 | GrossSalesOfInventoryAmt |
| Cost Of Goods Sold | $396,575 | CostOfGoodsSoldAmt |
Net Income Or Loss NetIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -$228,464 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | -$228,464 | RelatedOrExemptFuncIncomeAmt |
Other Revenue Misc OtherRevenueMiscGrp (3 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt | Unrelated Business RevenueUnrelatedBusinessRevenueAmt |
|---|---|---|---|---|
| CAPITAL CREDITS | 221000 | $1,821,733 | $1,821,733 | |
| PARTNERSHIP INCOME | 900099 | $72,789 | $72,789 | |
| CTV INCOME | 517000 | $23,327 | $19,364 | $3,963 |
Miscellaneous Revenue MiscellaneousRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $13,594 | TotalRevenueColumnAmt |
| Exclusion | $13,594 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $1,931,443 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $43,636,170 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $41,620,264 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $1,663,671 | UnrelatedBusinessRevenueAmt |
| Exclusion | $352,235 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part IX | Yes (X) | InfoInScheduleOPartIXInd |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $19,296 | TotalAmt |
Benefits To Members BenefitsToMembersGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,104,231 | TotalAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $534,886 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,986,939 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $314,973 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $190,932 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $847,674 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,133,542 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| COST OF POWER | $31,403,520 |
| DISTRIBUTIONS - OPERATI | $1,223,464 |
| DISTRIBUTION - MAINTENA | $1,220,510 |
| ADMIN AND GENERAL | $1,217,760 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | -$961,347 | TotalAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $42,236,380 | TotalAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $106,176 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,856,275 | BOYAmt |
| EOY | $2,926,965 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,078,514 | BOYAmt |
| EOY | $3,099,752 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $621,299 | EOYAmt |
Inventories For Sale Or Use InventoriesForSaleOrUseGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,939,282 | BOYAmt |
| EOY | $1,915,788 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,180,818 | BOYAmt |
| EOY | $952,410 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $75,915,015 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $27,882,927 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $46,934,143 | BOYAmt |
| EOY | $48,032,088 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,873,689 | BOYAmt |
| EOY | $2,126,055 | EOYAmt |
Investments Program Related InvestmentsProgramRelatedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $19,472,035 | BOYAmt |
| EOY | $20,708,297 | EOYAmt |
Intangible Assets IntangibleAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $1,520,899 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,746,404 | BOYAmt |
| EOY | $372,798 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $81,081,160 | BOYAmt |
| EOY | $82,382,527 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,890,232 | BOYAmt |
| EOY | $4,360,724 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $1,069,645 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $27,652,158 | BOYAmt |
| EOY | $27,231,208 | EOYAmt |
Unsecured Notes Loans Payable UnsecuredNotesLoansPayableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $600,000 | BOYAmt |
| EOY | $800,000 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,665,197 | BOYAmt |
| EOY | $1,694,757 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $35,807,587 | BOYAmt |
| EOY | $35,156,334 | 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 | $6,121,270 | BOYAmt |
| EOY | $6,482,038 | EOYAmt |
Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $39,152,303 | BOYAmt |
| EOY | $40,744,155 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $45,273,573 | BOYAmt |
| EOY | $47,226,193 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $81,081,160 | BOYAmt |
| EOY | $82,382,527 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $1,399,790 | ReconcilationRevenueExpnssAmt |
| Other Changes In Net Assets | $552,830 | 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 | $128,726 | OtherCostOrOtherBasisAmt |
| Book Value | $128,726 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $3,118,829 | OtherCostOrOtherBasisAmt |
| Depreciation | $919,727 | DepreciationAmt |
| Book Value | $2,199,102 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $71,602,236 | OtherCostOrOtherBasisAmt |
| Depreciation | $26,963,200 | DepreciationAmt |
| Book Value | $44,639,036 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $1,065,224 | OtherCostOrOtherBasisAmt |
| Book Value | $1,065,224 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $48,032,088 | TotalBookValueLandBuildingsAmt |
Invst Program Related Org InvstProgramRelatedOrgGrp (14 entries)
| DescDesc | Book ValueBookValueAmt | Method ValuationMethodValuationCd |
|---|---|---|
| CFC CAPITAL TERM CERTIFICATES | $537,751 | C |
| CFC MEMBER CAPITAL SECURITIES | $100,000 | C |
| CFC MEMBERSHIP | $1,000 | C |
| COBANK | $96,352 | C |
| COOPERATIVE TELEVISION ASSOCIATION | $257,040 | C |
| FEDERATED RURAL ELECTRIC SUPPLY INSURANCE | $182,273 | C |
| GREAT RIVER ENERGY MEMBERSHIP | $100 | C |
| GREAT RIVER ENERGY PATRONAGE CAPITAL | $9,115,757 | C |
| L&O POWER COOPERATIVE | $9,744,711 | C |
| NATIONAL RURAL TELECOMMUNICATIONS COOP | $105,189 | C |
| NATIONAL RURAL UTITILIES CFC | $91,342 | C |
| OTHER | $1,174 | C |
| RURAL ELECTRIC SUPPLY COOPERATIVE | $251,252 | C |
| SOUTHERN MINNESOTA ENERGY COOPERATIVE | $224,356 | C |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Program Rltd | $20,708,297 | TotalBookValueProgramRltdAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (7 entries)
| DescDesc | AmtAmt |
|---|---|
| FINANCE LEASE OBLIGATION | $334,644 |
| POSTRETIREMENT BENEFIT OBLIGATION | $299,650 |
| CONSUMER DEPOSITS | $77,878 |
| CONTINGENT LIABILITY | $607,231 |
| UNCLAIMED CAPITAL CREDIT CHECKS | $287,577 |
| DEFERRED SPECIAL EQUIPMENT COSTS | $87,203 |
| OTHER DEFERRED CREDITS | $574 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $1,694,757 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $41,930,494 | TotalRevEtcAuditedFinclStmtAmt |
| Other Revenue | $487,295 | OtherRevenueAmt |
| Revenue Not Reported | $487,295 | RevenueNotReportedAmt |
| Revenue Subtotal | $41,443,199 | RevenueSubtotalAmt |
| Other Revenues Not Included | $2,192,971 | OtherRevenuesNotIncludedAmt |
| Revenue Not Reported Fincl Stmt | $2,192,971 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $43,636,170 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $38,919,448 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Not Reported | $0 | ExpensesNotReportedAmt |
| Expenses Subtotal | $38,919,448 | ExpensesSubtotalAmt |
| Other Expenses Not Included | $3,316,932 | OtherExpensesNotIncludedAmt |
| Expenses Not Rpt Fincl Stmt | $3,316,932 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $42,236,380 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (4 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART X, LINE 2: | THE ASSOCIATION IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(12) OF THE INTERNAL REVENUE CODE. THE ASSOCIATION IS SUBJECT TO INCOME TAX ON ITS UNRELATED BUSINESS INCOME (UBI) AND FILED ANNUALLY ON FEDERAL FORM 990T. THE ASSOCIATION EVALUATES ITS TAX POSITIONS THAT HAVE BEEN TAKEN OR ARE EXPECTED TO BE TAKEN ON INCOME TAX RETURNS TO DETERMINE IF AN ACCRUAL IS NECESSARY FOR UNCERTAIN TAX POSITIONS. AS OF DECEMBER 31, 2023 AND 2022, THE UNRECOGNIZED TAX BENEFITS ACCRUAL WAS ZERO. THE ASSOCIATION WILL RECOGNIZE FUTURE ACCRUED INTEREST AND PENALTIES RELATED TO UNRECOGNIZED TAX BENEFITS IN INCOME TAX EXPENSE IF INCURRED. |
| PART XI, LINE 2D - OTHER ADJUSTMENTS: | PARTNERSHIP BOOK TO TAX DIFFERENCE 487,295. |
| PART XI, LINE 4B - OTHER ADJUSTMENTS: | BROADBAND EXPENSE 1,146,330. INCOME TAX EXPENSE 66,371. TAXABLE BROADBAND GRANT 980,270. |
| PART XII, LINE 4B - OTHER ADJUSTMENTS: | BROADBAND EXPENSE 1,146,330. INCOME TAX EXPENSE 66,371. ALLOCATED CAPITAL CREDITS 2,104,231. |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Idemnification Gross Up Pmts | Yes (X) | IdemnificationGrossUpPmtsInd |
| Written Policy Ref T And E Expnss | Yes (1) | WrittenPolicyRefTAndEExpnssInd |
| Substantiation Required | Yes (1) | SubstantiationRequiredInd |
| Compensation Committee | Yes (X) | CompensationCommitteeInd |
| 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 (6 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| SCOTT REIMER | ||||||||||||||
| GENERAL MANAGER | $218,025 | $0 | $0 | $0 | $2,122 | $0 | $35,328 | $0 | $33,127 | $0 | $288,602 | $0 | $0 | $0 |
| MATT MADDEN | ||||||||||||||
| OPERATIONS MANAGER | $112,305 | $0 | $0 | $0 | $1,221 | $0 | $18,593 | $0 | $28,834 | $0 | $160,953 | $0 | $0 | $0 |
| BRANDON CLARKE | ||||||||||||||
| WELCOME FOREMAN | $104,687 | $0 | $0 | $0 | $363 | $0 | $17,808 | $0 | $32,414 | $0 | $155,272 | $0 | $0 | $0 |
| JULIE RESCH | ||||||||||||||
| CFO/OFFICE MANAGER | $103,472 | $0 | $0 | $0 | $406 | $0 | $17,453 | $0 | $31,726 | $0 | $153,057 | $0 | $0 | $0 |
| CASEY L SCHOELLERMAR | ||||||||||||||
| LINEMAN | $104,550 | $0 | $0 | $0 | $341 | $0 | $17,358 | $0 | $29,710 | $0 | $151,959 | $0 | $0 | $0 |
| KOLLIN VANDEVERE | ||||||||||||||
| JACKSON AREA FOREMAN | $105,145 | $0 | $0 | $0 | $363 | $0 | $17,230 | $0 | $28,199 | $0 | $150,937 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART I, LINE 1A: | GROSS UPS: PERSONAL USE FRINGE AUTO BENEFIT FOR THE GENERAL MANAGER. BENEFIT WAS INCLUDED IN TAXABLE INCOME. |
| PART I, LINE 1B: | THE BOARD APPROVES THAT A VEHICLE IS PROVIDED TO THE GENERAL MANGER FOR BUSINESS TRAVEL. |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (12 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 6 | THE COOPERATIVE IS A MEMBER OWNED COOPERATIVE. |
| FORM 990, PART VI, SECTION A, LINE 7A | EACH MEMBER OF THE COOPERATIVE HAS ONE VOTE IN ELECTIONS OF BOARD MEMBERS. THE MEMBERSHIP OF THE COOPERATIVE ALSO VOTES ON CHANGES TO THE BY-LAWS. |
| FORM 990, PART VI, SECTION A, LINE 7B | MERGERS, DISSOLUTION, AND BYLAW CHANGES MUST BE APPROVED BY MEMBERS OF THE COOPERATIVE. |
| FORM 990, PART VI, SECTION A, LINE 8B | THERE ARE NO COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. ALL COMMITTEES BRING RECOMMENDATIONS TO THE BOARD OF DIRECTORS. |
| FORM 990, PART VI, SECTION B, LINE 11B | IT IS THE COOPERATIVE'S POLICY THAT THE BOARD OF DIRECTORS REVIEW THE FORM 990 FILED ON THE ORGANIZATION'S BEHALF BEFORE IT IS FILED WITH THE IRS. EACH BOARD MEMBER INDIVIDUALLY SIGNS A DOCUMENT STATING THEY HAVE REVIEWED THE 990. AFTER THE 990 IS FILLED WITH THE IRS, EACH BOARD MEMBER RECEIVED A COMPLETE COPY OF THE FILED DOCUMENT IN THEIR MONTHLY BOARD REPORT. THE REPORT IS DELIVERED ELECTRONICALLY. |
| FORM 990, PART VI, SECTION B, LINE 12C | DIRECTORS, OFFICERS, AND MEMBERS OF MANAGEMENT MUST ANNUALLY COMPLETE AND SIGN THE CONFLICT OF INTEREST CERTIFICATION AND DISCLOSURE FORM AND DELIVER IT TO THE GENERAL MANAGER. IN ADDITION, IF AN OFFICIAL DISCOVERS ANY INFORMATION THAT COULD IMPACT ANOTHER OFFICIAL'S COMPLIANCE WITH THE POLICY, THEY MUST DISCLOSE THE INFORMATION TO THE GENERAL MANAGER IMMEDIATELY. POTENTIAL CONFLICTS OF INTEREST ARE REVIEWED BY THE BOARD OF DIRECTORS. IF THE BOARD DETERMINES THAT A DIRECTOR DOES NOT COMPLY WITH THE POLICY THEN THEY MUST PROVIDE THE DIRECTOR AN OPPORTUNITY TO COMPLY WITH THE POLICY WITHIN THIRTY DAYS. IF THE DIRECTOR DOES NOT COMPLY THEN THE BOARD MUST SANCTION, DISQUALIFY, AND/OR REMOVE THE DIRECTOR AS ALLOWED BY LAW. THE COOPERATIVE'S LEGAL COUNSEL MUST ANNUALLY REVIEW THIS POLICY WITH ALL OFFICIALS. |
| FORM 990, PART VI, SECTION B, LINE 15A | THE BOARD OF DIRECTORS MAKES ANNUAL RECOMMENDATIONS REGARDING THE GENERAL MANAGER'S PERFORMANCE AND COMPENSATION. COMPENSATION SURVEYS AND COMPARABILITY DATA ARE USED TO ENSURE THE GENERAL MANAGER'S COMPENSATION IS REASONABLE. |
| FORM 990, PART VI, SECTION C, LINE 19 | A NEW MEMBER PACKET WHICH INCLUDES THE STATEMENT OF NONDISCRIMINATION AND INFORMATION ABOUT THE AVAILABILITY OF THE ARTICLES OF INCORPORATION AND THE BYLAWS IS MAILED TO EACH NEW MEMBER. THE BYLAWS AND ARTICLES ARE AVAILABLE UPON REQUEST AND ARE PUBLISHED ON OUR WEBSITE. FEDERATED RURAL ELECTRIC PUBLISHES A SUMMARY REPORT FROM THE FULL AUDIT REPORT PRIOR TO THE ANNUAL MEETING. THIS REPORT IS CONTAINED IN THE MONTHLY NEWS LETTER, "CONNECTIONS," MAILED TO EACH MEMBER OF RECORD. IN ADDITION, THE FULL AUDIT REPORT AND CONFLICT OF INTEREST POLICY ARE AVAILABLE UPON REQUEST AT THE COOPERATIVES' CORPORATE OFFICES. THE PUBLIC INSPECTION COPY OF FORM 990 IS AVAILABLE AT GUIDESTAR.ORG OR BY CONTACTING THE COOPERATIVE. |
| FORM 990, PART IX, LINE 24E STATEMENT OF FUNCTIONAL EXPENSES | THE LABOR, PENSION, AND PAYROLL TAXES REPORTED ON LINES 6-10 ARE INCLUDED IN DISTRIBUTION EXPENSE, ADMINISTRATIVE & GENERAL EXPENSE, AND CUSTOMER EXPENSE. THEREFORE, LABOR, PENSION, AND PAYROLL, TAXES ARE SHOWN AS A REDUCTION TO OTHER EXPENSES ON LINE 24E. |
| FORM 990, PART IX, LINE 4 | PATRONAGE DIVIDENDS PAID: AS REQUIRED BY 990 INSTRUCTIONS, FORM 990, PART IX, LINE 4 (BENEFITS PAID TO OR FOR MEMBERS) INCLUDES PATRONAGE DIVIDENDS PAID. THIS AMOUNT IS AN EXPENSE FOR PURPOSES OF FORM 990, BUT IS NOT RECOGNIZED AS AN EXPENSE UNDER G.A.A.P. REPORTING REQUIREMENTS, WHICH ARE USED FOR BOOK INCOME. THE RESULT IS A BOOK TO TAX DIFFERENCE WHICH IS DISCLOSED ON PART XI AND ON SCHEDULE D, PARTS XI AND XIII. IN REFERENCE TO PART IX, LINE 4, THE COOPERATIVE HAS INTERPRETED "PATRONAGE DIVIDENDS PAID" AS CAPITAL CREDITS ALLOCATED TO MEMBERS UNDER THE PREEXISTING OBLIGATIONS PURSUANT TO THE BYLAWS OF THE COOPERATIVE. |
| FORM 990, PART XI, LINE 9: | RETIRED CAPITAL CREDITS -1,058,426. PARTNERSHIP BOOK TO TAX DIFFERENCE 487,295. ALLOCATION OF CAPITAL CREDITS 2,104,231. GRANT BOOK TO TAX DIFFERENCE -980,270. |
| FORM 990, PART XII, LINE 2C | THE COOPERATIVE NO LONGER HAS AN AUDIT COMMITTEE IN 2023. THE FULL BOARD OF DIRECOTRS ASSUMES RESPONSIBILITY FOR THE OVERSIGHT OF THE AUDIT AND SELECTION OF THE INDEPENDENT AUDITOR. |
Schedule R IRS990ScheduleR
Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp
Disregarded Entity Name DisregardedEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | FEDERATED RURAL ELECTRIC TRUEST | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 77100 HWY 71 S | AddressLine1Txt |
| City | JACKSON | CityNm |
| State Abbreviation | MN | StateAbbreviationCd |
| ZIP | 561430069 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 411802809 | EIN |
| Primary Activities | CHARITABLE | PrimaryActivitiesTxt |
| Legal Domicile Foreign Country | MN | LegalDomicileForeignCountryCd |
| Exempt Code Section | 501(C)(3) | ExemptCodeSectionTxt |
| Public Charity Status | 7 | PublicCharityStatusTxt |
Direct Controlling Entity Name DirectControllingEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | FEDERATD RURAL ELECTRIC ASSOCIATION | 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 | 0 | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | 0 | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | Yes (1) | SharingOfFacilitiesInd |
| Paid Employees Sharing | 0 | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | 0 | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | 0 | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | Yes (1) | TransferToOtherOrgInd |
| Transfer From Other Org | 0 | TransferFromOtherOrgInd |