L & O POWER COOPERATIVE: Form 990, tax year 2021
View the entire original 990 at ProPublica ↗
- Organization
- L & O POWER COOPERATIVE (EIN 42-0721692)
- Tax period
- 2021-01-01 to 2021-12-31
- Filed
- 2022-07-27
- IRS object ID
- 202222089349300437
- Schema version
- 2021v4.2
- 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 | 2022-07-27T15:45:48-05:00 | ReturnTs |
| Tax Period End | 2021-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 450250958 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | EIDE BAILLY LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 200 E 10TH ST STE 500 | AddressLine1Txt |
| City | SIOUX FALLS | CityNm |
| State Abbreviation | SD | StateAbbreviationCd |
| ZIP | 571046375 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2021-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 420721692 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | L&O POWER COOPERATIVE INC | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | L&OP | BusinessNameControlTxt |
| Phone | 7124722556 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1302 SOUTH UNION STREET | AddressLine1Txt |
| City | ROCK RAPIDS | CityNm |
| State Abbreviation | IA | StateAbbreviationCd |
| ZIP | 51246 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | STEVE VOSS | PersonNm |
| Person Title | SECRETARY/TREASURER | PersonTitleTxt |
| Phone | 7124722556 | PhoneNum |
| Signature | 2022-07-18 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Signing Officer SigningOfficerGrp
Person Full Name PersonFullName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person First | STEVE | PersonFirstNm |
| Person Last | VOSS | PersonLastNm |
| Field | Value | IRS element (for citing) |
|---|---|---|
| SSN | XXX-XX-XXXX | SSN |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | LAURIE HANSON CPA | PreparerPersonNm |
| PTIN | P00851848 | PTIN |
| Phone | 6053391999 | PhoneNum |
| Preparation | 2022-07-18 | 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 | 2021 | TaxYr |
| Build TS | 2022-09-23 18:48:47Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | DAVID DEBOER | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1302 SOUTH UNION STREET | AddressLine1Txt |
| City | ROCK RAPIDS | CityNm |
| State Abbreviation | IA | StateAbbreviationCd |
| ZIP | 51246 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $31,765,274 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | WWW.LANDOPOWERCOOP.COM | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1952 | FormationYr |
| Legal Domicile State | IA | LegalDomicileStateCd |
| Activity Or Mission | SALE OF ELECTRICITY TO MEMBERS | ActivityOrMissionDesc |
| Voting Members Governing Body | 12 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 12 | VotingMembersIndependentCnt |
| Total Employee | 0 | TotalEmployeeCnt |
| Total Volunteers | 0 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $30,334,790 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $31,462,829 | CYProgramServiceRevenueAmt |
| PY Investment Income | $316,563 | PYInvestmentIncomeAmt |
| CY Investment Income | $302,445 | CYInvestmentIncomeAmt |
| PY Other Revenue | $0 | PYOtherRevenueAmt |
| CY Other Revenue | $0 | CYOtherRevenueAmt |
| PY Total Revenue | $30,651,353 | PYTotalRevenueAmt |
| CY Total Revenue | $31,765,274 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $0 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $0 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $1,174,317 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $945,589 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $47,450 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $53,425 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $29,765,775 | PYOtherExpensesAmt |
| CY Other Expenses | $30,661,195 | CYOtherExpensesAmt |
| PY Total Expenses | $30,987,542 | PYTotalExpensesAmt |
| CY Total Expenses | $31,660,209 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | -$336,189 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $105,065 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $49,750,469 | TotalAssetsBOYAmt |
| Total Assets EOY | $53,564,247 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $19,892,646 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $22,786,094 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $29,857,823 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $30,778,153 | NetAssetsOrFundBalancesEOYAmt |
| Mission | SALE OF ELECTRICITY TO MEMBERS TO GENERATE INCOME FOR THE SOLE PURPOSE OF MEETING LOSSES AND EXPENSES. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Desc | L&O POWER COOPERATIVE IS A WHOLESALE POWER SUPPLIER TO FOUR RURAL DISTRIBUTION COOPERATIVES. L&O PROVIDES WHEELING SERVICES TO THREE MUNICIPALITIES. | 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 | 0 | 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 | 0 | 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 | 0 | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 22 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 0 | EmployeeCnt |
| 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 | $29,359,415 | MembersAndShrGrossIncomeAmt |
| Other Sources Gross Income | $1,435,475 | 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 | 12 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 12 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | Yes (1) | 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 | 0 | 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 | 0 | CompensationProcessCEOInd |
| Compensation Process Other | 0 | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | MARLIN OVERMAN | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 7124722556 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1302 SOUTH UNION STREET | AddressLine1Txt |
| City | ROCK RAPIDS | CityNm |
| State Abbreviation | IA | StateAbbreviationCd |
| ZIP | 51246 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (13 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt |
|---|---|---|---|---|---|---|
| STEVEN VOSS | ||||||
| SEC/TREASURER | 6.00 | Yes (X) | Yes (X) | $5,325 | $0 | $0 |
| DAVID DEBOER | ||||||
| PRESIDENT | 6.00 | Yes (X) | Yes (X) | $5,475 | $0 | $0 |
| DAVID HANSEN | ||||||
| DIRECTOR | 6.00 | Yes (X) | $5,900 | $0 | $0 | |
| DAVID HUFF | ||||||
| VICE PRESIDENT | 6.00 | Yes (X) | Yes (X) | $7,625 | $0 | $0 |
| LUCAS ROSKAMP | ||||||
| DIRECTOR | 6.00 | Yes (X) | $4,425 | $0 | $0 | |
| DAN LEUTHOLD | ||||||
| DIRECTOR | 6.00 | Yes (X) | $4,700 | $0 | $0 | |
| DAVID MESCHKE | ||||||
| DIRECTOR | 6.00 | Yes (X) | $3,800 | $0 | $0 | |
| GREGG JOHNSON | ||||||
| DIRECTOR | 6.00 | Yes (X) | $3,525 | $0 | $0 | |
| GLENN DICKS | ||||||
| DIRECTOR | 6.00 | Yes (X) | $3,225 | $0 | $0 | |
| RONALD JACOBS | ||||||
| DIRECTOR | 6.00 | Yes (X) | $2,950 | $0 | $0 | |
| ADAM HOEKSTRA | ||||||
| DIRECTOR | 6.00 | Yes (X) | $2,950 | $0 | $0 | |
| NOLAN KOOIKER | ||||||
| DIRECTOR | 6.00 | Yes (X) | $3,525 | $0 | $0 | |
| CURT DIEREN | ||||||
| MANAGER/CEO | 30.00 | Yes (X) | $0 | $0 | $0 | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $53,425 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $0 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 0 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | 0 | 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 |
|---|---|---|---|---|---|
| DGR ENGINEERING | |||||
| 1302 S UNION STREET | ROCK RAPIDS | IA | 51246 | ADMIN, MANAGEMENT, MAINTENANCE, ENGINEER | $2,254,149 |
| N&M POWER CO | |||||
| 905 S 8TH AVE | BROKEN BOW | NE | 68822 | ELECTRICAL CONSTRUCTION COMPANY | $849,219 |
| SIEMENS ENERGY INC | |||||
| DEPARTMENT CH 10075 | PALATINE | IL | 600550075 | ELECTRICAL MANUFACTURING COMPANY | $487,743 |
| SYNERGY POWERLINE CONSTRUCTION | |||||
| 1435 SINCLAIR LEWIS AVE W | SAUK CENTRE | MN | 56378 | ELECTRICAL CONSTRUCTION COMPANY | $427,937 |
| WESCO RECEIVABLES CORP | |||||
| 1751 SOLUTIONS CENTER DRIVE | CHICAGO | IL | 606771007 | ELECTRICAL MANUFACTURING COMPANY | $183,266 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 11 | CntrctRcvdGreaterThan100KCnt |
Program Service Revenue ProgramServiceRevenueGrp (4 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| ELECTRICITY SOLD TO MEMBERS | 221000 | $29,359,415 | $29,359,415 |
| GEN & TRANS. CAPITAL CREDITS | 221000 | $1,073,446 | $1,073,446 |
| SPP-RTO REVENUE | 221000 | $526,295 | $526,295 |
| OTHER OPERATING INCOME | 221000 | $503,673 | $503,673 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $31,462,829 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $302,445 | TotalRevenueColumnAmt |
| Exclusion | $302,445 | ExclusionAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $31,765,274 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $31,462,829 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $302,445 | ExclusionAmt |
Benefits To Members BenefitsToMembersGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $945,589 | TotalAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $53,425 | TotalAmt |
Fees For Services Management FeesForServicesManagementGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $356,500 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $692,889 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $797,051 | TotalAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $86,369 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| COST OF POWER | $26,778,541 |
| OPERATIONS | $776,461 |
| ADMINISTRATIVE & GENERA | $666,372 |
| MAINTENANCE | $460,980 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $46,032 | TotalAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $31,660,209 | TotalAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $69,513 | BOYAmt |
| EOY | $59,808 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,732,830 | BOYAmt |
| EOY | $1,973,629 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,653,889 | BOYAmt |
| EOY | $2,321,866 | EOYAmt |
Inventories For Sale Or Use InventoriesForSaleOrUseGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,029,433 | BOYAmt |
| EOY | $981,488 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $155,597 | BOYAmt |
| EOY | $206,426 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $37,436,446 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $10,282,535 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $23,765,462 | BOYAmt |
| EOY | $27,153,911 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $655,842 | BOYAmt |
| EOY | $287,158 | EOYAmt |
Investments Program Related InvestmentsProgramRelatedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $19,684,665 | BOYAmt |
| EOY | $20,151,675 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,238 | BOYAmt |
| EOY | $428,286 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $49,750,469 | BOYAmt |
| EOY | $53,564,247 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,645,660 | BOYAmt |
| EOY | $4,488,019 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $10,946,986 | BOYAmt |
| EOY | $15,498,075 | EOYAmt |
Unsecured Notes Loans Payable UnsecuredNotesLoansPayableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,300,000 | BOYAmt |
| EOY | $2,800,000 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $19,892,646 | BOYAmt |
| EOY | $22,786,094 | 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 | $1,200 | BOYAmt |
| EOY | $1,200 | EOYAmt |
Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $29,856,623 | BOYAmt |
| EOY | $30,776,953 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $29,857,823 | BOYAmt |
| EOY | $30,778,153 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $49,750,469 | BOYAmt |
| EOY | $53,564,247 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $105,065 | ReconcilationRevenueExpnssAmt |
| Other Changes In Net Assets | $815,265 | 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) |
|---|---|---|
| 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 | $98,775 | OtherCostOrOtherBasisAmt |
| Book Value | $98,775 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $492,765 | OtherCostOrOtherBasisAmt |
| Depreciation | $86,469 | DepreciationAmt |
| Book Value | $406,296 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $32,893,710 | OtherCostOrOtherBasisAmt |
| Depreciation | $10,196,066 | DepreciationAmt |
| Book Value | $22,697,644 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $3,951,196 | OtherCostOrOtherBasisAmt |
| Book Value | $3,951,196 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $27,153,911 | TotalBookValueLandBuildingsAmt |
Invst Program Related Org InvstProgramRelatedOrgGrp (6 entries)
| DescDesc | Book ValueBookValueAmt | Method ValuationMethodValuationCd |
|---|---|---|
| BASIN ELECTRIC POWER COOPERATIVE | $19,465,591 | C |
| NATIONAL RURAL UTILITIES COOP FINANCE CO. | $265,170 | C |
| COBANK | $206,267 | C |
| FEDERATED RURAL ELECTRIC INSURANCE | $105,537 | C |
| BASIN MEMBER NOTES-RESTRICTED CASH | $94,139 | C |
| OTHER | $14,971 | C |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Program Rltd | $20,151,675 | TotalBookValueProgramRltdAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $31,765,274 | TotalRevEtcAuditedFinclStmtAmt |
| Revenue Not Reported | $0 | RevenueNotReportedAmt |
| Revenue Subtotal | $31,765,274 | RevenueSubtotalAmt |
| Revenue Not Reported Fincl Stmt | $0 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $31,765,274 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $30,714,620 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Not Reported | $0 | ExpensesNotReportedAmt |
| Expenses Subtotal | $30,714,620 | ExpensesSubtotalAmt |
| Other Expenses Not Included | $945,589 | OtherExpensesNotIncludedAmt |
| Expenses Not Rpt Fincl Stmt | $945,589 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $31,660,209 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART X, LINE 2: | THE COOPERATIVE HAS EVALUATED WHETHER IT WAS NECESSARY TO RECOGNIZE ANY BENEFIT FROM UNCERTAIN TAX POSITIONS IN CURRENTLY OPEN TAX PERIODS AND DETERMINED THAT THERE ARE NO MATERIAL UNCERTAINTIES WITHIN ITS FILED TAX RETURNS. AS OF DECEMBER 31, 2021 AND 2020, THE UNRECOGNIZED TAX BENEFIT ACCRUAL WAS ZERO. THE COOPERATIVE WOULD RECOGNIZE FUTURE ACCRUED INTEREST AND PENALTIES RELATED TO UNRECOGNIZED TAX BENEFITS IN INCOME TAX EXPENSE IF INCURRED. |
| PART XII, LINE 4B - OTHER ADJUSTMENTS: | ALLOCATION OF 2021 MARGINS TO MEMBERS IN 2022 945,589. |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (9 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 1A | THE COOPERATIVE HAS TWO CLASSES OF MEMBERSHIP. CLASS I MEMBERSHIP CONSISTS OF THE THREE ORIGINAL INCORPORATORS AND MEMBERS OF THE COOPERATIVE, NAMELY: LYON RURAL ELECTRIC COOPERATIVE, OSCEOLA ELECTRIC COOPERATIVE, INC, AND SIOUX VALLEY ENERGY. A CLASS II MEMBERSHIP IS AVAILABLE TO AN INCORPORATED COOPERATIVE ASSOCIATION ENGAGED DIRECTLY OR INDIRECTLY IN ANY BUSINESS ACTIVITY WHICH IS RELATED TO L AND O POWER COOPERATIVE. ONLY ONE CLASS II MEMBERSHIP IS AVAILABLE AT ANY TIME. CLASS I DIRECTORS ARE ENTITLED TO VOTE ON ALL MATTERS OF THE COOPERATIVE, AND TO BE OFFICERS OF THE COOPERATIVE. CLASS II DIRECTORS ARE ALLOWED TO VOTE WITH REGARD TO BASIN ELECTRIC POWER COOPERATIVE ISSUES AND RELATED POWER SUPPLY ISSUES WHICH AFFECT THE CLASS II MEMBER, BUT SHALL HAVE NO VOTING RIGHTS WITH REGARD TO THE COOPERATIVE'S GOVERNANCE MATTERS OR MATTERS WHICH RELATE TO THE COOPERATIVE'S SYSTEM AND FACILITIES. CLASS I DIRECTORS MAY ESTABLISH AN EXECUTIVE COMMITTEE CONSISTING OF THREE OFFICERS OF THE COOPERATIVE. THE EXECUTIVE COMMITTEE CAN BE CALLED AND AUTHORIZED TO MEET WITH MANAGEMENT AND ACT AS ITS ADVISORY COMMITTEE AND TAKE SUCH FURTHER ACTION ONLY IF AUTHORIZED TO ACT BY THE CLASS I DIRECTORS OR IN THE CASE OF AN EMERGENCY REQUIRING IMMEDIATE ACTION. |
| FORM 990, PART VI, SECTION A, LINE 3 | THE COOPERATIVE HAS A MANAGEMENT AGREEMENT WITH DGR ENGINEERING, 1302 S UNION STREET, ROCK RAPIDS, IA. COMPENSATION AND BENEFITS RELATED TO SERVICES PERFORMED BY CURT DIEREN, ACTING MANAGER/CEO FOR L & O POWER COOPERATIVE, INC., WERE $92,768 AND $40,818, RESPECTIVELY. COMPENSATION FOR THE MANAGEMENT SERVICES CONTRACT WITH DGR ENGINEERING IS ESTABLISHED ANNUALLY BY THE BOARD OF DIRECTORS. |
| FORM 990, PART VI, SECTION A, LINE 6 | THE COOPERATIVE HAS THREE CLASS I MEMBERS AND ONE CLASS II MEMBER. |
| FORM 990, PART VI, SECTION A, LINE 7A | THE COOPERATIVE HAS NINE CLASS I DIRECTORS AND ONE, TWO OR THREE CLASS II DIRECTORS, DEPENDING ON THE PURCHASE LEVEL OF THE CLASS II MEMBER, WHO ARE ELECTED BY THE MEMBERS FOR TERMS OF THREE YEARS. |
| FORM 990, PART VI, SECTION A, LINE 8B | NO COMMITTEES ARE ABLE TO ACT ON BEHALF OF THE BOARD. |
| FORM 990, PART VI, SECTION B, LINE 11B | THE 990 WILL BE REVIEWED BY THE BOARD OF DIRECTORS PRIOR TO FILING FORM 990. |
| FORM 990, PART VI, SECTION B, LINE 12C | DIRECTORS COMPLETE A CONFLICT OF INTEREST DISCLOSURE FORM ANNUALLY. THE BOARD OF DIRECTORS REVIEW REPORTED CONFLICTS AND MAKE A DETERMINATION AS TO WHETHER AN ACTUAL CONFLICT EXISTS. IF IT IS DETERMINED THAT A CONFLICT EXISTS, THE AFFECTED DIRECTOR WOULD NOT BE ALLOWED TO PARTICIPATE IN DISCUSSION OR VOTING ON THE MATTER. |
| FORM 990, PART VI, SECTION C, LINE 19 | L & O MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE MEMBERS. THESE DOCUMENTS ARE NOT AVAILABLE TO THE GENERAL PUBLIC. |
| FORM 990, PART XI, LINE 9: | RETIREMENT OF CAPITAL CREDITS -130,324. ALLOCATION OF 2021 MARGINS TO MEMBERS IN 2022 945,589. |