2022-07-27T15:45:48-05:00 2021-12-31 450250958 EIDE BAILLY LLP 200 E 10TH ST STE 500 SIOUX FALLS SD 571046375 990 2021-01-01 420721692 L&O POWER COOPERATIVE INC L&OP 7124722556 1302 SOUTH UNION STREET ROCK RAPIDS IA 51246 STEVE VOSS SECRETARY/TREASURER 7124722556 2022-07-18 1 STEVE VOSS XXX-XX-XXXX LAURIE HANSON CPA P00851848 6053391999 2022-07-18 3 AAL1 IAL1 2021 2022-09-23 18:48:47Z DAVID DEBOER 1302 SOUTH UNION STREET ROCK RAPIDS IA 51246 31765274 0 X WWW.LANDOPOWERCOOP.COM X 1952 IA SALE OF ELECTRICITY TO MEMBERS 12 12 0 0 0 0 0 0 30334790 31462829 316563 302445 0 0 30651353 31765274 0 0 1174317 945589 47450 53425 0 0 0 29765775 30661195 30987542 31660209 -336189 105065 49750469 53564247 19892646 22786094 29857823 30778153 SALE OF ELECTRICITY TO MEMBERS TO GENERATE INCOME FOR THE SOLE PURPOSE OF MEETING LOSSES AND EXPENSES. 0 0 L&O POWER COOPERATIVE IS A WHOLESALE POWER SUPPLIER TO FOUR RURAL DISTRIBUTION COOPERATIVES. L&O PROVIDES WHEELING SERVICES TO THREE MUNICIPALITIES. 0 0 0 0 0 0 0 0 0 1 0 1 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 22 0 1 0 0 0 0 0 0 29359415 1435475 0 0 0 X 12 12 0 1 0 0 1 1 0 1 0 0 0 1 1 1 1 1 1 0 0 0 X MARLIN OVERMAN 7124722556 1302 SOUTH UNION STREET ROCK RAPIDS IA 51246 STEVEN VOSS SEC/TREASURER 6.00 X X 5325 0 0 DAVID DEBOER PRESIDENT 6.00 X X 5475 0 0 DAVID HANSEN DIRECTOR 6.00 X 5900 0 0 DAVID HUFF VICE PRESIDENT 6.00 X X 7625 0 0 LUCAS ROSKAMP DIRECTOR 6.00 X 4425 0 0 DAN LEUTHOLD DIRECTOR 6.00 X 4700 0 0 DAVID MESCHKE DIRECTOR 6.00 X 3800 0 0 GREGG JOHNSON DIRECTOR 6.00 X 3525 0 0 GLENN DICKS DIRECTOR 6.00 X 3225 0 0 RONALD JACOBS DIRECTOR 6.00 X 2950 0 0 ADAM HOEKSTRA DIRECTOR 6.00 X 2950 0 0 NOLAN KOOIKER DIRECTOR 6.00 X 3525 0 0 CURT DIEREN MANAGER/CEO 30.00 X 0 0 0 53425 0 0 0 0 0 0 DGR ENGINEERING 1302 S UNION STREET ROCK RAPIDS IA 51246 ADMIN, MANAGEMENT, MAINTENANCE, ENGINEER 2254149 N&M POWER CO 905 S 8TH AVE BROKEN BOW NE 68822 ELECTRICAL CONSTRUCTION COMPANY 849219 SIEMENS ENERGY INC DEPARTMENT CH 10075 PALATINE IL 600550075 ELECTRICAL MANUFACTURING COMPANY 487743 SYNERGY POWERLINE CONSTRUCTION 1435 SINCLAIR LEWIS AVE W SAUK CENTRE MN 56378 ELECTRICAL CONSTRUCTION COMPANY 427937 WESCO RECEIVABLES CORP 1751 SOLUTIONS CENTER DRIVE CHICAGO IL 606771007 ELECTRICAL MANUFACTURING COMPANY 183266 11 ELECTRICITY SOLD TO MEMBERS 221000 29359415 29359415 GEN & TRANS. CAPITAL CREDITS 221000 1073446 1073446 SPP-RTO REVENUE 221000 526295 526295 OTHER OPERATING INCOME 221000 503673 503673 31462829 302445 302445 31765274 31462829 0 302445 945589 53425 356500 692889 797051 86369 COST OF POWER 26778541 OPERATIONS 776461 ADMINISTRATIVE & GENERA 666372 MAINTENANCE 460980 46032 31660209 69513 59808 1732830 1973629 2653889 2321866 1029433 981488 155597 206426 37436446 10282535 23765462 27153911 655842 287158 19684665 20151675 3238 428286 49750469 53564247 4645660 4488019 10946986 15498075 4300000 2800000 19892646 22786094 X 0 0 1200 1200 29856623 30776953 29857823 30778153 49750469 53564247 X 105065 815265 X 0 1 X 1 0 98775 98775 492765 86469 406296 32893710 10196066 22697644 3951196 3951196 27153911 BASIN ELECTRIC POWER COOPERATIVE 19465591 C NATIONAL RURAL UTILITIES COOP FINANCE CO. 265170 C COBANK 206267 C FEDERATED RURAL ELECTRIC INSURANCE 105537 C BASIN MEMBER NOTES-RESTRICTED CASH 94139 C OTHER 14971 C 20151675 X 31765274 0 31765274 0 31765274 30714620 0 30714620 945589 945589 31660209 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. 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.