2022-05-03T10:46:32-05:00 2021-12-31 410746749 CLIFTONLARSONALLEN LLP 2689 COMMERCE DRIVE NW SUITE 201 ROCHESTER MN 55901 990 2021-01-01 420163705 BUTLER COUNTY RURAL ELECTRIC COOPERATIVE BUTL 3192672726 PO BOX 98 ALLISON IA 506020098 CRAIG CODNER CEO 3192672726 2022-04-28 1 CRAIG CODNER 999009999 KATHERINE LUTZKE CPA P01760889 5072802300 2022-04-28 3 AAL1 IAL1 2021 2022-09-23 18:48:47Z CRAIG CODNER PO BOX 98 ALLISON IA 506020098 31489515 0 X WWW.BUTLERREC.COOP X 1936 IA PROVIDING ELECTRICAL SERVICE TO THE MEMBERS OF THE COOPERATIVE. 9 9 43 0 -9506 0 0 0 28282234 29519979 299813 199259 1812716 1588716 30394763 31307954 0 0 2617477 1692154 415094 481537 0 0 0 26802246 28430936 29834817 30604627 559946 703327 69864720 77135438 38780355 45334865 31084365 31800573 PROVIDING ELECTRICAL SERVICE TO THE MEMBERS OF THE COOPERATIVE. 0 0 DISTRIBUTE ELECTRICITY TO APPROXIMATELY 5000 MEMBERS IN NORTHEAST IOWA. 0 0 0 0 0 0 0 0 0 1 0 1 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 1 13 0 43 1 1 1 0 0 0 0 0 0 29638284 1969536 0 0 0 X 9 9 1 0 0 0 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 1 1 X X CRAIG CODNER 3192672726 521 N MAIN ST PO BOX 98 ALLISON IA 506020098 DUANE RIECKENBERG PRESIDENT 4.26 0.00 X X 9825 0 0 GARY POPPE VICE PRESIDENT 2.81 0.00 X X 5160 0 0 TIM SCHRAGE SECRETARY 2.79 0.00 X X 6765 0 0 LELAND BOYD TREASURER 3.98 0.00 X X 6390 0 0 GERALD SCHMITT DIRECTOR 3.03 0.00 X 5860 0 0 STEVE BOEVERS DIRECTOR 2.38 0.00 X 5580 0 0 ALLYN HARMS DIRECTOR 3.44 0.00 X 6610 0 0 TROY FELDMAN DIRECTOR 3.21 0.00 X 6360 0 0 SHARE BRANDT ASSISTANT SECRETARY-TREASU 3.38 0.00 X X 8420 0 0 CRAIG CODNER CEO 40.00 0.00 X 171366 0 102723 JANE BRADLEY RECORDING SECRETARY 40.00 0.00 X 81664 0 64814 SANDRA MILLER HR/OFFICE MANAGER 40.00 0.00 X 107888 0 67130 LORI BEACH FINANCIAL ACCOUNTANT 40.00 0.00 X 102626 0 71582 524514 0 306249 3 0 1 0 0 SALE OF POWER 221000 29519979 29519979 29519979 135259 135259 64000 0 64000 64000 64000 136618 181561 -44943 -35437 -9506 CAPITAL CREDITS 523000 1633659 1633659 1633659 31307954 31118201 -9506 199259 1692154 481537 1038243 1833156 COST OF POWER 21316129 ADMIN & GENERAL EXP 1198501 DIST EXPENSE - MAINT 1164396 DIST EXP - OPERATIONS 815190 1065321 30604627 1814867 1964999 6264600 11656308 2842162 2888446 515808 1089933 555516 401133 54979574 16792756 37877750 38186818 -11972 -15295 19379493 19763096 26391 0 600105 1200000 69864720 77135438 2445908 2701317 692300 1324873 34732198 40496384 5000 5000 904949 807291 38780355 45334865 X 0 0 0 0 31084365 31800573 31084365 31800573 69864720 77135438 X 703327 12881 X X 0 1 X 1 0 57567 57567 1735214 1232563 502651 3894492 2602793 1291699 49292301 12957400 36334901 38186818 PAT CAP IN ASSOC ORGS 14639809 C NRUCFC CAPITAL TERM CERTS 514882 C NRUCFC MEMBER CAP SECS 50000 C ECONOMIC DEVEL LOANS 2071087 C REVOLVING LOAN FUNDS 1715677 C OTHER INVESTMENTS 771641 C 19763096 CONSUMER DEPOSITS 181330 PATRONAGE CAPITAL PAYABLE 387 ACCUMULATED PROVISION FOR PENSION & BENEFITS 625574 807291 X PART X, LINE 2: THE COOPERATIVE IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(12) OF THE INTERNAL REVENUE CODE (IRC). THE COOPERATIVE EVALUATED ITS TAX POSITIONS AND DETERMINED THAT IT HAS NO UNCERTAIN TAX POSITIONS AS OF DECEMBER 31, 2021 AND 2020. X 0 0 0 CRAIG CODNER CEO 171366 0 0 0 0 0 86545 0 16178 0 274089 0 0 0 SANDRA MILLER HR/OFFICE MANAGER 107888 0 0 0 0 0 55669 0 11461 0 175018 0 0 0 LORI BEACH FINANCIAL ACCOUNTANT 102626 0 0 0 0 0 60944 0 10638 0 174208 0 0 0 FORM 990, PART VI, SECTION A, LINE 2 SHARE BRANDT, JOHN ENDELMAN, AND SANDI MILLER - ALL HAVE A FAMILY RELATIONSHIP. FORM 990, PART VI, SECTION A, LINE 6 SUBSTANTIALLY ALL CUSTOMERS OF THE COOPERATIVE ARE MEMBERS. EACH MEMBER HAS EQUAL VOTING RIGHTS. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS ELECT THE BOARD OF DIRECTORS. THERE IS ONE CLASS OF MEMBERSHIP. FORM 990, PART VI, SECTION A, LINE 7B THE MEMBERSHIP VOTES ON ANY CHANGES TO THE ARTICLES OF INCORPORATION. 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 THE BOARD OF DIRECTORS REVIEWED THE FORM 990 PRIOR TO ITS FILING. FORM 990, PART VI, SECTION B, LINE 12C ALL DIRECTORS, OFFICERS, AND KEY EMPLOYEES ARE COVERED BY THE CONFLICT OF INTEREST POLICY. DIRECTORS, OFFICERS AND KEY EMPLOYEES ARE EXPECTED TO DECLARE ANY CONFLICTS OF INTEREST. CONFLICTS ARE DETERMINED TO EXIST WHEN A DIRECTOR, OFFICER, OR KEY EMPLOYEE DISCLOSES THE CONFLICT TO THE PRESIDENT, CEO, OR IMMEDIATE SUPERVISOR. POTENTIAL CONFLICTS ARE REVIEWED AS SOON AS THE CONFLICT IS DISCLOSED. DIRECTORS ARE TO ABSTAIN FROM DISCUSSIONS AND VOTING ON ANY MATTERS INVOLVING A CONFLICT OF INTEREST. IT IS THE RESPONSIBILITY OF THE PRESIDENT TO ADDRESS ANY CONFLICTS OF INTEREST AND TAKE APPROPRIATE ACTION IF ANY DIRECTOR OF THE COOPERATIVE HAS VIOLATED THE POLICY. IT IS THE RESPONSIBILITY OF THE HUMAN RESOURCES MANAGER ALONG WITH THE CEO TO ADDRESS ANY CONFLICTS OF INTEREST AND TAKE APPROPRIATE ACTION IF ANY KEY EMPLOYEE OF THE COOPERATIVE HAS VIOLATED THE POLICY. FORM 990, PART VI, SECTION B, LINE 15A CEO COMPENSATION WAS REVIEWED AND APPROVED IN 2021 BY THE BOARD OF DIRECTORS. THE BOARD USES NRECA COMPARABILITY DATA TO DETERMINE OFFICERS COMPENSATION AND THE EXECUTIVE SESSION OF THE BOARD IS DOCUMENTED IN THE BOARD MINUTES. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE NOT MADE AVAILABLE TO THE PUBLIC. THE GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE AVAILABLE TO MEMBERS. FORM 990, PART XI, LINE 9: CAPITAL CREDITS RETIRED -1,011,764. NET ACTUARIAL GAIN ON POST RETIREMENT BENEFITS 110,717. BOOK/TAX DIFFERENCE - SUBSIDIARY INCOME -3,324. PATRONAGE DIVIDENDS PAID 1,692,154. RESTATEMENT FOR REVENUE RECOGNITION STANDARDS -774,904. ROUNDING 2. PART XII, LINE 2C: THE PROCESS FOR OVERSIGHT OF THE ANNUAL FINANCIAL STATEMENT AUDIT AND SELECTION OF AN INDEPENDENT ACCOUNTANT HAS NOT CHANGED. FORM 990, PART IX, LINE 4 THE IRS INSTRUCTIONS STATE THAT PATRONAGE DIVIDENDS PAID BY SECTION 501(C)(12) ORGANIZATIONS TO THEIR MEMBERS SHOULD BE REPORTED ON LINE 4. THE ORGANIZATION HAS INTERPRETED PATRONAGE DIVIDENDS PAID TO MEAN PATRONAGE DIVIDENDS ALLOCATED OR TO BE ALLOCATED FOR THE CURRENT YEAR. SINCE THIS ALLOCATION IS NOT AN EXPENSE UNDER GENERALLY ACCEPTED ACCOUNTING PRINCIPLES (GAAP), THIS HAS RESULTED IN A RECONCILING ITEM TO NET ASSETS IN PART XI, ON PAGE 12 OF THE FORM 990. NORTHEAST IOWA DEVELOPMENT CORP 521 NORTH MAIN STREET ALLISON IA 50602 421373757 HOUSING LOANS IA 501(C)(3) LINE 7 BUTLER COUNTY RURAL ELECTRIC COOPERATIVE 1 FIVE RIVERS DEVELOPMENT CORP 521 NORTH MAIN ALLISON IA 50602 421436185 ECONOMIC DEVELOPMENT IA BUTLER COUNTY REC C -2050 45869 1.00000 1 0 0 0 0 0 0 0 0 0 0 0 1 0 1 1 0 1 1 0 NO TRANSACTIONS OVER 50000