EASTERN IOWA LIGHT AND POWER COOPERATIVE: Form 990, tax year 2022
View the entire original 990 at ProPublica ↗
- Organization
- EASTERN IOWA LIGHT AND POWER COOPERATIVE (EIN 42-0228180)
- Tax period
- 2022-01-01 to 2022-12-31
- Filed
- 2023-08-01
- IRS object ID
- 202322139349301037
- Schema version
- 2022v5.0
- 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 | 2023-08-01T13:44:57-05:00 | ReturnTs |
| Tax Period End | 2022-12-31 | 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 | 2022-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 420228180 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | EASTERN IOWA LIGHT & POWER COOPERATIVE | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | EAST | BusinessNameControlTxt |
| Phone | 5637322211 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 3003 | AddressLine1Txt |
| City | WILTON | CityNm |
| State Abbreviation | IA | StateAbbreviationCd |
| ZIP | 527783003 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | KRIK TREDE | PersonNm |
| Person Title | CEO | PersonTitleTxt |
| Phone | 5637322211 | PhoneNum |
| Signature | 2023-06-30 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Signing Officer SigningOfficerGrp
Person Full Name PersonFullName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person First | KRIK | PersonFirstNm |
| Person Last | TREDE | 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 | 2023-06-30 | PreparationDt |
Additional Filer Information AdditionalFilerInformation
Trusted Customer TrustedCustomerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Trusted Customer | 2 | TrustedCustomerCd |
| Authentication Assurance Level | AAL1 | AuthenticationAssuranceLevelCd |
| Identity Assurance Level | IAL1 | IdentityAssuranceLevelCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2022 | TaxYr |
| Build TS | 2023-04-26 12:10:37Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | KIRK TREDE | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 3003 | AddressLine1Txt |
| City | WILTON | CityNm |
| State Abbreviation | IA | StateAbbreviationCd |
| ZIP | 527783003 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $66,474,188 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | WWW.EASTERNIOWA.COM | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1935 | FormationYr |
| Legal Domicile State | IA | LegalDomicileStateCd |
| Activity Or Mission | PROVISION OF ELECTRICITY TO MEMBERS ON THE COOPERATIVE BASIS | ActivityOrMissionDesc |
| Voting Members Governing Body | 15 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 15 | VotingMembersIndependentCnt |
| Total Employee | 106 | TotalEmployeeCnt |
| Total Volunteers | 0 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $1,835,895 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $58,203,383 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $65,009,399 | CYProgramServiceRevenueAmt |
| PY Investment Income | $176,201 | PYInvestmentIncomeAmt |
| CY Investment Income | $182,974 | CYInvestmentIncomeAmt |
| PY Other Revenue | $2,195,047 | PYOtherRevenueAmt |
| CY Other Revenue | $1,184,781 | CYOtherRevenueAmt |
| PY Total Revenue | $62,410,526 | PYTotalRevenueAmt |
| CY Total Revenue | $66,377,154 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $0 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $0 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $3,777,185 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $2,709,185 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $711,655 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $799,010 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $56,252,448 | PYOtherExpensesAmt |
| CY Other Expenses | $61,670,246 | CYOtherExpensesAmt |
| PY Total Expenses | $60,741,288 | PYTotalExpensesAmt |
| CY Total Expenses | $65,178,441 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $1,669,238 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $1,198,713 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $187,914,668 | TotalAssetsBOYAmt |
| Total Assets EOY | $192,486,456 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $93,383,589 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $98,509,798 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $94,531,079 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $93,976,658 | NetAssetsOrFundBalancesEOYAmt |
| Mission | EASTERN IOWA REC IS COMMITTED TO PROVIDING SAFE, RELIABLE AND AFFORDABLE OFFERINGS TO OUR MEMBERS TO ENHANCE THEIR QUALITY OF LIFE. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Desc | PROVISION OF ELECTRICITY TO COOPERATIVE MEMBER-CONSUMERS. DURING 2022 A TOTAL OF 23,969 ACCOUNTS CONSUMED 604,582,000 KWH OF ELECTRICITY. THE COOPERATIVE OWNS, MAINTAINS AND OPERATES 4,853 MILES OF RURAL DISTRIBUTION LINES. THE COOPERATIVE PROVIDES SERVICE TO 18,607INDIVIDUAL MEMBERS. | 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 | 0 | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | Yes (1) | 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 | Yes (1) | TransactionWithControlEntInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 82 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Employee | 106 | 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 | $65,009,398 | MembersAndShrGrossIncomeAmt |
| Other Sources Gross Income | $1,252,196 | 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 | 15 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 15 | 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 | 0 | 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 | Yes (1) | WrittenPolicyOrProcedureInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | DAVID ZORICH | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 5637327343 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1705 W THIRD ST | AddressLine1Txt |
| City | WILTON | CityNm |
| State Abbreviation | IA | StateAbbreviationCd |
| ZIP | 52778 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part VII | Yes (X) | InfoInScheduleOPartVIIInd |
Form990 Part VII Section A Form990PartVIISectionAGrp (23 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 | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|---|
| THOMAS HOTZ | ||||||||
| PRESIDENT | 5.00 | 0.00 | Yes (X) | Yes (X) | $20,832 | $0 | $0 | |
| KATHY WUNDERLICH | ||||||||
| VICE PRESIDENT | 5.00 | 0.00 | Yes (X) | Yes (X) | $13,579 | $0 | $0 | |
| KENNETH PURDY | ||||||||
| SECRETARY | 5.00 | 0.00 | Yes (X) | Yes (X) | $14,471 | $0 | $0 | |
| KURT OLSON | ||||||||
| TREASURER | 5.00 | 0.00 | Yes (X) | Yes (X) | $14,382 | $0 | $0 | |
| DAN HEATER | ||||||||
| ASST. SECRETARY | 5.00 | 0.00 | Yes (X) | Yes (X) | $14,432 | $0 | $0 | |
| GLENN MCCULLOH | ||||||||
| DIRECTOR | 5.00 | 0.00 | Yes (X) | $14,210 | $0 | $0 | ||
| MICHAEL MOES | ||||||||
| DIRECTOR | 5.00 | 0.00 | Yes (X) | $9,971 | $0 | $0 | ||
| GARY KESTER | ||||||||
| DIRECTOR | 8.00 | 0.00 | Yes (X) | $9,132 | $0 | $0 | ||
| MICHAEL BIXLER | ||||||||
| DIRECTOR | 4.00 | 0.00 | Yes (X) | $12,282 | $0 | $0 | ||
| WILLIAM PETERSEN | ||||||||
| DIRECTOR | 4.50 | 0.00 | Yes (X) | $12,482 | $0 | $0 | ||
| JOEL CARSTENSEN | ||||||||
| DIRECTOR | 4.00 | 0.00 | Yes (X) | $14,032 | $0 | $0 | ||
| ALLAN DUFFE | ||||||||
| DIRECTOR | 4.00 | 0.00 | Yes (X) | $13,732 | $0 | $0 | ||
| MICHAEL SHUGER | ||||||||
| DIRECTOR | 4.00 | 0.00 | Yes (X) | $13,032 | $0 | $0 | ||
| NANCY VARNER | ||||||||
| DIRECTOR - PART YEAR | 10.00 | 0.00 | Yes (X) | $6,315 | $0 | $0 | ||
| RON STOVER | ||||||||
| DIRECTOR | 4.00 | 0.00 | Yes (X) | $7,432 | $0 | $0 | ||
| HENRY BENTLEY | ||||||||
| DIRECTOR | 4.00 | 0.00 | Yes (X) | $6,808 | $0 | $0 | ||
| KIRK TREDE | ||||||||
| CEO | 55.00 | 0.00 | Yes (X) | $271,644 | $0 | $168,658 | ||
| DAVID ZORICH | ||||||||
| DIVISION MANAGER OF ACCOUNTING | 44.00 | 0.00 | Yes (X) | $117,930 | $0 | $43,651 | ||
| MARK ELDER | ||||||||
| DIVISION MANAGER OF OPERATIONS | 45.00 | 0.00 | $121,846 | $0 | $74,547 | Yes (X) | ||
| TIM IOSSI | ||||||||
| MANAGER OF OPERATION TECHNOLOGY | 50.00 | 0.00 | $119,028 | $0 | $102,473 | Yes (X) | ||
| DON ROTH | ||||||||
| DIVISION MANAGER OF MEMBER RELATIONS | 48.00 | 0.00 | $135,542 | $0 | $44,428 | Yes (X) | ||
| DENNIS HILL | ||||||||
| DIVISION MANAGER OF ENGINEERING | 48.00 | 0.00 | $132,293 | $0 | $64,865 | Yes (X) | ||
| KEVIN BOHNSACK | ||||||||
| SUBSTATION FOREMAN | 45.00 | 0.00 | $113,667 | $0 | $82,972 | Yes (X) | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $1,209,074 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $581,594 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 34 | 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 |
|---|---|---|---|---|---|
| ASPLUNDH TREE EXPERT CO INC | |||||
| 105 HOLLAND DRIVE | PELLA | IA | 50219 | TREE SERVICE | $1,354,533 |
| ADVANCED UNDERGROUND INC | |||||
| 11453 31ST STREET DRIVE WEST | MILAN | IL | 61264 | CONSTRUCTION SERVICES | $543,353 |
| J&R UNDERGROUND | |||||
| PO BOX 843194 | DALLAS | TX | 75284 | CONSTRUCTION SERVICES | $464,638 |
| NISC | |||||
| 1 INNOVATION CIRCLE | LAKE SAINT LOUIS | MO | 63367 | INFORMATION SERVICES | $406,931 |
| HIGHLINE CONSTRUCTION | |||||
| 16124 OLD LAKE RD | PAYNESVILLE | MN | 56362 | CONSTRUCTION SERVICES | $329,255 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 8 | CntrctRcvdGreaterThan100KCnt |
Program Service Revenue ProgramServiceRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | SALE OF POWER | Desc |
| Business | 221000 | BusinessCd |
| Total Revenue Column | $65,009,399 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $65,009,399 | RelatedOrExemptFuncIncomeAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $65,009,399 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $107,879 | TotalRevenueColumnAmt |
| Exclusion | $107,879 | ExclusionAmt |
Gross Rents GrossRentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $7,680 | RealAmt |
Less Rental Expenses LessRentalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $0 | RealAmt |
Rental Income Or Loss RentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $7,680 | RealAmt |
Net Rental Income Or Loss NetRentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $7,680 | TotalRevenueColumnAmt |
| Exclusion | $7,680 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $172,129 | OtherAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $97,034 | OtherAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $75,095 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $75,095 | TotalRevenueColumnAmt |
| Exclusion | $75,095 | ExclusionAmt |
Other Revenue Misc OtherRevenueMiscGrp (2 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| CAPITAL CREDITS | 221000 | $1,189,899 | $1,189,899 |
| INCOME FROM SUBSIDIARY | 221000 | -$12,798 | -$12,798 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $1,177,101 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $66,377,154 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $66,186,500 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $190,654 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part IX | Yes (X) | InfoInScheduleOPartIXInd |
Benefits To Members BenefitsToMembersGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,709,185 | TotalAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $799,010 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,000,331 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $6,068,150 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| COST OF POWER | $39,858,864 |
| DISTRIBUTION EXPENSE - | $4,570,755 |
| DISTRIBUTION EXPENSE - | $3,463,981 |
| ADMINISTRATIVE AND GENE | $3,380,575 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,327,590 | TotalAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $65,178,441 | TotalAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $6,473,774 | BOYAmt |
| EOY | $3,219,737 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $482,917 | BOYAmt |
| EOY | $1,484,429 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $6,071,445 | BOYAmt |
| EOY | $7,576,486 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $544,273 | BOYAmt |
| EOY | $1,476,736 | EOYAmt |
Inventories For Sale Or Use InventoriesForSaleOrUseGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,699,486 | BOYAmt |
| EOY | $3,395,358 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,601,392 | BOYAmt |
| EOY | $2,221,823 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $214,047,683 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $74,169,647 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $134,115,103 | BOYAmt |
| EOY | $139,878,036 | EOYAmt |
Investments Program Related InvestmentsProgramRelatedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $32,554,514 | BOYAmt |
| EOY | $31,770,764 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,371,764 | BOYAmt |
| EOY | $1,463,087 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $187,914,668 | BOYAmt |
| EOY | $192,486,456 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $5,715,490 | BOYAmt |
| EOY | $6,542,867 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,126,113 | BOYAmt |
| EOY | $2,088,995 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $85,068,899 | BOYAmt |
| EOY | $89,413,566 | EOYAmt |
Unsecured Notes Loans Payable UnsecuredNotesLoansPayableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $245,000 | BOYAmt |
| EOY | $245,000 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $228,087 | BOYAmt |
| EOY | $219,370 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $93,383,589 | BOYAmt |
| EOY | $98,509,798 | 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 | $185,780 | BOYAmt |
| EOY | $186,070 | 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 | $94,345,299 | BOYAmt |
| EOY | $93,790,588 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $94,531,079 | BOYAmt |
| EOY | $93,976,658 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $187,914,668 | BOYAmt |
| EOY | $192,486,456 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $1,198,713 | ReconcilationRevenueExpnssAmt |
| Other Changes In Net Assets | -$1,753,134 | OtherChangesInNetAssetsAmt |
| 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) |
|---|---|---|
| Consolidated Basis Fincl Stmt | Yes (X) | ConsolidatedBasisFinclStmtInd |
| 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 | $2,593,343 | OtherCostOrOtherBasisAmt |
| Book Value | $2,593,343 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $15,145,287 | OtherCostOrOtherBasisAmt |
| Depreciation | $2,259,686 | DepreciationAmt |
| Book Value | $12,885,601 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $174,552,272 | OtherCostOrOtherBasisAmt |
| Depreciation | $71,909,961 | DepreciationAmt |
| Book Value | $102,642,311 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $21,756,781 | OtherCostOrOtherBasisAmt |
| Book Value | $21,756,781 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $139,878,036 | TotalBookValueLandBuildingsAmt |
Invst Program Related Org InvstProgramRelatedOrgGrp (9 entries)
| DescDesc | Book ValueBookValueAmt | Method ValuationMethodValuationCd |
|---|---|---|
| CENTRAL IOWA POWER COOPERATIVE CAPITAL CREDITS | $27,627,249 | C |
| NATIONAL RURAL UTILITIES COOPERATIVE FINANCE CORPORATION | $1,804,321 | C |
| RURAL ELECTRIC SUPPLY COOPERATIVE CAPITAL CREDITS | $707,201 | C |
| COBANK CAPITAL CREDITS | $675,122 | C |
| NATIONAL INFORMATION SYSTEM COOPERATIVE CAPITAL CREDITS | $109,495 | C |
| EQUIY OF NEW RESOURCES (AFFILIATE) | $189,322 | C |
| EQUITY OF NEW VENTURES (SUBSIDIARY) | $272,251 | C |
| FORMER HEADQUARTERS PROPERTY HELD FOR SALE | $260,859 | F |
| OTHER | $124,944 | C |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Program Rltd | $31,770,764 | TotalBookValueProgramRltdAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | CONSUMER DEPOSITS | Desc |
| Amt | $219,370 | Amt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $219,370 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $66,377,154 | TotalRevEtcAuditedFinclStmtAmt |
| Revenue Not Reported | $0 | RevenueNotReportedAmt |
| Revenue Subtotal | $66,377,154 | RevenueSubtotalAmt |
| Revenue Not Reported Fincl Stmt | $0 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $66,377,154 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $62,469,256 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Not Reported | $0 | ExpensesNotReportedAmt |
| Expenses Subtotal | $62,469,256 | ExpensesSubtotalAmt |
| Other Expenses Not Included | $2,709,185 | OtherExpensesNotIncludedAmt |
| Expenses Not Rpt Fincl Stmt | $2,709,185 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $65,178,441 | 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, THUS THERE IS NO PROVISION FOR INCOME TAXES AT DECEMBER 31, 2022 AND 2021. THE COOPERATIVE EVALUATED ITS TAX POSITIONS AND DETERMINED THAT IT HAS NO UNCERTAIN TAX POSITIONS AS OF DECEMBER 31, 2022 AND 2021. |
| PART XII, LINE 4B - OTHER ADJUSTMENTS: | PATRONAGE DIVIDENDS ALLOCATED 2,709,185. |
| PARTS XI AND XII: | ALTHOUGH NOT REQUIRED TO BE COMPLETED, EASTERN IOWA LIGHT AND POWER COOPERATIVE ELECTS TO COMPLETE THESE PARTS AS IT BELIEVES THAT THE INFORMATION CONTAINED IN THESE SCHEDULES WOULD BE HELPFUL AND INFORMATIVE TO THE USER OF THE FORM 990. |
| PART XII, LINE 4B, OTHER: | 2022 CAPITAL CREDITS ALLOCATED AND EXPENSED ON FORM 990 - SEE DISCLOSURE ON SCHEDULE O FOR PART IX, PAGE 10, QUESTION 4 $2,709,185 |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Substantiation Required | Yes (1) | SubstantiationRequiredInd |
| Independent Consultant | Yes (X) | IndependentConsultantInd |
| Form990 Of Other Organizations | Yes (X) | Form990OfOtherOrganizationsInd |
| 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 (7 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| KIRK TREDE | ||||||||||||||
| CEO | $250,406 | $0 | $70 | $0 | $21,168 | $0 | $140,369 | $0 | $28,289 | $0 | $440,302 | $0 | $0 | $0 |
| TIM IOSSI | ||||||||||||||
| MANAGER OF OPERATION TECHNOLOGY | $115,028 | $0 | $80 | $0 | $3,920 | $0 | $74,161 | $0 | $28,312 | $0 | $221,501 | $0 | $0 | $0 |
| DENNIS HILL | ||||||||||||||
| DIVISION MANAGER OF ENGINEERING | $129,727 | $0 | $20 | $0 | $2,546 | $0 | $54,284 | $0 | $10,581 | $0 | $197,158 | $0 | $0 | $0 |
| KEVIN BOHNSACK | ||||||||||||||
| SUBSTATION FOREMAN | $110,639 | $0 | $530 | $0 | $2,498 | $0 | $61,652 | $0 | $21,320 | $0 | $196,639 | $0 | $0 | $0 |
| MARK ELDER | ||||||||||||||
| DIVISION MANAGER OF OPERATIONS | $121,161 | $0 | $432 | $0 | $253 | $0 | $48,180 | $0 | $26,367 | $0 | $196,393 | $0 | $0 | $0 |
| DON ROTH | ||||||||||||||
| DIVISION MANAGER OF MEMBER RELATIONS | $135,056 | $0 | $75 | $0 | $411 | $0 | $42,301 | $0 | $2,127 | $0 | $179,970 | $0 | $0 | $0 |
| DAVID ZORICH | ||||||||||||||
| DIVISION MANAGER OF ACCOUNTING | $117,166 | $0 | $469 | $0 | $295 | $0 | $21,233 | $0 | $22,418 | $0 | $161,581 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART II, LINES 1 THROUGH 6, COLUMN C - RETIREMENT & DEFERRED COMPENSATION | FormAndLineReferenceDesc |
| Explanation | THE COOPERATIVE HAS INTERPRETED THE INSTRUCTIONS FOR COLUMN C TO INCLUDE BOTH THE CONTRIBUTIONS PAID TO THE DEFINED BENEFIT RETIREMENT PLAN AND THE INCREASE IN THE ACTUARIAL VALUE OF PLAN ASSETS ATTRIBUTABLE TO THE LISTED COOPERATIVE OFFICER OR HIGHLY COMPENSATED EMPLOYEE. THE COOPERATIVE IS A PARTICIPANT IN THE NATIONAL RURAL ELECTRIC COOPERATIVE ASSOCIATION (NRECA) RETIREMENT SECURITY PLAN (RS PLAN) WHICH IS A DEFINED BENEFIT PLAN QUALIFIED UNDER SECTION 401 AND TAX-EXEMPT UNDER SECTION 501(A) OF THE INTERNAL REVENUE CODE. IT IS A MULTI-EMPLOYER PLAN UNDER THE ACCOUNTING STANDARDS. ALL FULL-TIME EMPLOYEES OF THE COOPERATIVE ARE COVERED BY THE PLAN AFTER A 12 MONTH WAITING PERIOD. THE COOPERATIVE MAKES CONTRIBUTIONS TO THE PLAN BASED ON A PERCENTAGE OF THE PRIOR YEAR REGULAR TIME EARNINGS OF EACH EMPLOYEE. FOR 2022, THE COOPERATIVE MADE CONTRIBUTIONS TO THE PLAN ON BEHALF OF THE LISTED EMPLOYEES. IN ADDITION, COLUMN C INCLUDES THE ANNUAL INCREASE IN THE ACTUARIAL VALUE OF THE PLAN ASSETS ATTRIBUTABLE TO THESE EMPLOYEES. THE AMOUNTS FOR THE LISTED EMPLOYEES ARE AS FOLLOWS: EMPLOYEE: KIRK W TREDE EMPLOYER PLAN CONTRIBUTIONS: $49,705 INCREASE IN ACTUARIAL VALUE OF PLAN ASSETS: $140,369 TIM IOSSI EMPLOYER PLAN CONTRIBUTIONS: $22,346 INCREASE IN ACTUARIAL VALUE OF PLAN ASSETS: $74,161 DENNIS HILL EMPLOYER PLAN CONTRIBUTIONS: $24,065 INCREASE IN ACTUARIAL VALUE OF PLAN ASSETS: $54,284 KEVIN BOHNSACK EMPLOYER PLAN CONTRIBUTIONS: $17,525 INCREASE IN ACTUARIAL VALUE OF PLAN ASSETS: $61,652 MARK ELDER EMPLOYER PLAN CONTRIBUTIONS: $22,265 INCREASE IN ACTUARIAL VALUE OF PLAN ASSETS: $48,180 DON ROTH EMPLOYER PLAN CONTRIBUTIONS: $22,922 INCREASE IN ACTUARIAL VALUE OF PLAN ASSETS: $42,301 DAVID ZORICH EMPLOYER PLAN CONTRIBUTIONS: $21,233 INCREASE IN ACTUARIAL VALUE OF PLAN ASSETS: $19,580 | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (12 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 6 | ALL ELECTRIC CUSTOMERS OF THE COOPERATIVE ARE VOTING MEMBERS. EACH MEMBER IS ENTITLED TO ONE VOTE. |
| FORM 990, PART VI, SECTION A, LINE 7A | THE COOPERATIVE IS DIVIDED INTO FIVE DISTRICTS OF REASONABLY EQUAL SIZE. EACH MEMBER IN THE DISTRICT HAS ONE VOTE PER DIRECTOR TO BE ELECTED. EACH DISTRICT ELECTS THREE MEMBERS TO THE 15-MEMBER BOARD OF DIRECTORS. IN NORMAL CIRCUMSTANCES THE TERMS IN EACH DISTRICT ARE FOR THREE YEARS AND ARE STAGGERED SO THAT EACH DISTRICT ELECTS ONLY ONE DIRECTOR EACH YEAR. AT CERTAIN TIMES, BECAUSE OF THE RESIGNATION OR DEATH OF A DIRECTOR, A DISTRICT MAY HAVE MULTIPLE ELECTIONS FOR BOARD MEMBERS. |
| FORM 990, PART VI, SECTION A, LINE 7B | THE COOPERATIVE MAY NOT SELL, MORTGAGE, LEASE OR OTHERWISE DISPOSE OF OR ENCUMBER ALL OR A SUBSTANTIAL PORTION OF ITS PROPERTY UNLESS IT IS AUTHORIZED BY THE MAJORITY OF ALL ITS MEMBERS. |
| FORM 990, PART VI, SECTION A, LINE 8B | THERE ARE NO COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. |
| FORM 990, PART VI, SECTION B, LINE 11B | A COPY OF THE FORM 990 IS PROVIDED TO THE CEO FOR REVIEW PRIOR TO FILING WITH THE IRS. THE FIRST BOARD OF DIRECTOR MEETING AFTER THE 990 IS FILED, THE FORM 990 WILL BE REVIEWED BY THE BOARD OF DIRECTORS. THIS IS DONE BY SHOWING THE FORM 990 IN ITS' ENTIRETY TO THE BOARD AND REVIEWING THE FINANCIAL DATA AND DISCLOSURES THAT MANAGEMENT DEEMS TO BE SIGNIFICANT. AT THAT TIME THE BOARD MAY RATIFY THE FORM 990 AS FILED OR REQUEST CHANGES. IF CHANGES ARE DEEMED TO BE NECESSARY, AN AMENDED FORM 990 WILL BE FILED WITH IRS IN A TIMELY MANNER. |
| FORM 990, PART VI, SECTION B, LINE 12C | EACH BOARD MEMBER AND COOPERATIVE EMPLOYEE IS REQUIRED TO ANNUALLY DISCLOSE ACTIVITIES AND RELATIONSHIPS THAT COULD BE CONSIDERED AS A CONFLICT OF INTEREST AS DEFINED BY THE COOPERATIVE'S CODE OF CONDUCT/ETHICS POLICY. ALL POTENTIAL CONFLICTS ARE REVIEWED. A MANAGEMENT EMPLOYEE AND THE CEO REVIEWS THE EMPLOYEE DISCLOSURES; THE CEO REVIEWS THE BOARD DISCLOSURES AND THE BOARD PRESIDENT REVIEWS THE CEO'S DISCLOSURE. A RECAP OF POTENTIAL CONFLICTS IS THEN REVIEWED BY THE BOARD OF DIRECTORS TO DETERMINE IF AN ACTUAL CONFLICT EXITS. IF SO, THE BOARD DECIDES HOW THE COOPERATIVE WILL DEAL WITH THESE CONFLICTS. THIS MAY INCLUDE REQUESTING COOPERATIVE EMPLOYEES TO AVOID TRANSACTIONS WITH CERTAIN EMPLOYEES, COMPANIES OR ORGANIZATIONS, REQUESTING THAT CERTAIN INDIVIDUALS ABSTAIN IN THE DECISION MAKING ON CERTAIN TRANSACTIONS, OR RATIFYING CERTAIN TRANSACTIONS OR DECISIONS. ALL ACTIONS ARE DOCUMENTED. |
| FORM 990, PART VI, SECTION B, LINE 15A | THE BOARD OF DIRECTORS ESTABLISHES THE COMPENSATION LEVEL FOR THE CEO. THIS IS BASED ON DATA PROVIDED BY A NATIONAL TRADE ORGANIZATION AND THE STATE EMPLOYMENT BUREAU. A COMPENSATION CONSULTANT HAS PERIODICALLY BEEN USED. DECISIONS ON COMPENSATION ARE COMMUNICATED IN A TIMELY MANNER TO APPROPRIATE HUMAN RESOURCES AND PAYROLL PERSONNEL BY THE BOARD PRESIDENT. THIS PROCESS IS DOCUMENTED. |
| FORM 990, PART VI, SECTION C, LINE 19 | EASTERN IOWA LIGHT AND POWER COOPERATIVE WILL MAKE SELECTED GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC OR TO ITS' MEMBERS UPON REQUEST. THE COOPERATIVE PROVIDES FINANCIAL STATEMENTS IN ITS ANNUAL REPORT, WHICH IS GIVEN TO ALL MEMBERS ATTENDING DISTRICT MEETINGS. FINANCIAL STATEMENTS ARE ALSO PERIODICALLY INCLUDED IN THE MEMBER NEWSLETTER WHICH IS MAILED TO ALL MEMBERS. |
| PART VI, PAGE 6, QUESTION 16, INVESTMENT IN TAXABLE ENTITY: | THE COOPERATIVE HAS INVESTED IN NEW RESOURCES, INC. WHICH IS CO-OWNED WITH OTHER RURAL ELECTRIC COOPERATIVES. EASTERN APPOINTS TWO BOARD MEMBERS TO THE BOARD OF NEW RESOURCES, INC. WHICH CONDUCTS BUSINESS ACTIVITIES THAT ALL OWNING COOPERATIVES WISH TO PURSUE. THE EFFECT OF OWNERSHIP OF THE TAXABLE ENTITY ON THE TAX STATUS OF THE COOPERATIVE IS PERIODICALLY REVIEWED. |
| PART VII, PAGE 7, COMPENSATION OF OFFICERS AND DIRECTORS: | USERS OF THIS FORM 990 SHOULD REVIEW THE DISCLOSURE RELATED TO RETIREMENT AND OTHER DEFERRED COMPENSATION IN THE ATTACHED SCHEDULE J - PAGE 3. |
| PART IX, PAGE 10, QUESTION 4, BENEFITS PAID TO OR FOR MEMBERS: | THE IRS INSTRUCTIONS STATE THAT PATRONAGE DIVIDENDS PAID BY SECTION 50I(C)(12) ORGANIZATIONS TO THEIR MEMBERS SHOULD BE REPORTED ON LINE 4. THE COOPERATIVE 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 ALSO RESULTS IN A RECONCILING ITEM TO NET ASSETS IN PART XI, ON PAGE 12 OF THE FORM 990. |
| FORM 990, PART XI, LINE 9: | CAPITAL CREDITS RETIRED -4,584,954. CHANGE IN MEMBERSHIP AND OTHER EQUITIES 122,635. PATRONAGE ALLOCATION 2,709,185. |
Schedule R IRS990ScheduleR
Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp
Disregarded Entity Name DisregardedEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | NEW VENTURES INC | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 3003 | AddressLine1Txt |
| City | WILTON | CityNm |
| State Abbreviation | IA | StateAbbreviationCd |
| ZIP | 52778 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 421328834 | EIN |
| Primary Activities | ECONOMIC DEVELOPMENT | PrimaryActivitiesTxt |
| Legal Domicile State | IA | LegalDomicileStateCd |
| Exempt Code Section | 501(C)(4) | ExemptCodeSectionTxt |
| Public Charity Status | N/A | PublicCharityStatusTxt |
| Direct Controlling NA | N/A | DirectControllingNACd |
| Controlled Organization | 0 | ControlledOrganizationInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | 0 | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | Yes (1) | 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 | Yes (1) | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | 0 | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | Yes (1) | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | 0 | TransferToOtherOrgInd |
| Transfer From Other Org | 0 | TransferFromOtherOrgInd |
Transactions Related Org TransactionsRelatedOrgGrp
Other Organization Name OtherOrganizationName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | NO TRANSACTIONS GREATER THAN 50000 | BusinessNameLine1Txt |