FARMERS ELECTRIC COOPERATIVE INCORPORATED: Form 990, tax year 2024
View the entire original 990 at ProPublica ↗
- Organization
- FARMERS ELECTRIC COOPERATIVE INCORPORATED (EIN 42-0243365)
- Tax period
- 2024-01-01 to 2024-12-31
- Filed
- 2025-07-08
- IRS object ID
- 202531899349300903
- Schema version
- 2024v5.2
- 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 | 2025-07-08T08:57:46-05:00 | ReturnTs |
| Tax Period End | 2024-12-31 | 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 | 345 N REID PL STE 400 | AddressLine1Txt |
| City | SIOUX FALLS | CityNm |
| State Abbreviation | SD | StateAbbreviationCd |
| ZIP | 571037034 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2024-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 420243365 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | FARMERS ELECTRIC COOPERATIVE INC | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | FARM | BusinessNameControlTxt |
| Phone | 6417436146 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2389 HWY 92 PO BOX 330 | AddressLine1Txt |
| City | GREENFIELD | CityNm |
| State Abbreviation | IA | StateAbbreviationCd |
| ZIP | 50849 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | HOLI WESTON | PersonNm |
| Person Title | CEO | PersonTitleTxt |
| Phone | 6417436146 | PhoneNum |
| Signature | 2025-06-30 | 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 | LAURIE HANSON CPA | PreparerPersonNm |
| PTIN | P00851848 | PTIN |
| Phone | 6053391999 | PhoneNum |
| Preparation | 2025-06-30 | PreparationDt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2024 | TaxYr |
| Build TS | 2025-03-06 01:10:19Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | HOLI WESTON | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2389 HWY 92 PO BOX 330 | AddressLine1Txt |
| City | GREENFIELD | CityNm |
| State Abbreviation | IA | StateAbbreviationCd |
| ZIP | 50849 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $15,689,705 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | WWW.FARMERSREC.COM | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1938 | FormationYr |
| Legal Domicile State | IA | LegalDomicileStateCd |
| Activity Or Mission | TO PROVIDE OUR MEMBERS WITH A DEPENDABLE QUALITY AND QUANTITY OF ELECTRICAL ENERGY. | ActivityOrMissionDesc |
| Voting Members Governing Body | 9 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 9 | VotingMembersIndependentCnt |
| Total Employee | 21 | TotalEmployeeCnt |
| Total Volunteers | 5 | 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 | $15,254,210 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $15,311,345 | CYProgramServiceRevenueAmt |
| PY Investment Income | $297,441 | PYInvestmentIncomeAmt |
| CY Investment Income | $247,109 | CYInvestmentIncomeAmt |
| PY Other Revenue | $2,678 | PYOtherRevenueAmt |
| CY Other Revenue | $40,648 | CYOtherRevenueAmt |
| PY Total Revenue | $15,554,329 | PYTotalRevenueAmt |
| CY Total Revenue | $15,599,102 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $8,207 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $15,850 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $1,650,857 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $1,841,065 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $2,246,811 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $2,493,479 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $11,446,503 | PYOtherExpensesAmt |
| CY Other Expenses | $11,044,566 | CYOtherExpensesAmt |
| PY Total Expenses | $15,352,378 | PYTotalExpensesAmt |
| CY Total Expenses | $15,394,960 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $201,951 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $204,142 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $47,860,581 | TotalAssetsBOYAmt |
| Total Assets EOY | $47,959,932 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $23,296,314 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $22,098,066 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $24,564,267 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $25,861,866 | NetAssetsOrFundBalancesEOYAmt |
| Mission | FARMERS ELECTRIC COOPERATIVE, INC. EXISTS TO DELIVER SAFE, RELIABLE, AFFORDABLE ELECTRICITY AND OTHER SERVICES TO IMPROVE THE QUALITY OF LIFE WITHIN OUR COMMUNITIES. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Desc | PROVIDED ELECTRIC SERVICE TO APPROXIMATELY 5,108 CONSUMERS OR 3,832 MEMBERS, SERVED 1,865.98 MILES OF LINE, AND ADDED 3.93 MILES OF LINE. | 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 | 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 | 19 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 21 | 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 | $15,030,596 | MembersAndShrGrossIncomeAmt |
| Other Sources Gross Income | $696,111 | 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 | 9 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 9 | 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 | 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 | LORI KINYON | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 6417436146 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2389 HWY 92 PO BOX 330 | AddressLine1Txt |
| City | GREENFIELD | CityNm |
| State Abbreviation | IA | StateAbbreviationCd |
| ZIP | 50849 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part VII | Yes (X) | InfoInScheduleOPartVIIInd |
Form990 Part VII Section A Form990PartVIISectionAGrp (16 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 |
|---|---|---|---|---|---|---|---|
| MARK EARHART | |||||||
| DIRECTOR UNTIL AUG/VICE PRESIDENT | 5.60 | Yes (X) | Yes (X) | $9,625 | $0 | $0 | |
| ROXANN RHOADS | |||||||
| TREASURER | 5.70 | Yes (X) | Yes (X) | $9,050 | $0 | $0 | |
| STEVE CHANDLER | |||||||
| VICE PRESIDENT UNTIL AUG/DIRECTOR | 3.70 | Yes (X) | Yes (X) | $5,425 | $0 | $0 | |
| DAN WESTPHAL | |||||||
| PRESIDENT | 6.40 | Yes (X) | Yes (X) | $9,350 | $0 | $0 | |
| KEVIN TANNER | |||||||
| SECRETARY | 5.80 | Yes (X) | Yes (X) | $9,575 | $0 | $0 | |
| KEVIN STENDER | |||||||
| DIRECTOR | 5.60 | Yes (X) | $8,225 | $0 | $0 | ||
| CARY GILMAN | |||||||
| DIRECTOR | 6.50 | Yes (X) | $8,975 | $0 | $0 | ||
| JANELLE PEIFFER | |||||||
| DIRECTOR | 4.40 | Yes (X) | $9,450 | $0 | $0 | ||
| KRIS PETTER | |||||||
| DIRECTOR | 6.40 | Yes (X) | $9,100 | $0 | $0 | ||
| LORI KINYON | |||||||
| CFO | 40.00 | Yes (X) | $107,424 | $0 | $35,122 | ||
| HOLI WESTON | |||||||
| CEO | 40.00 | Yes (X) | $136,993 | $0 | $49,843 | ||
| DAVID SHIKE | |||||||
| DIRECTOR OF OPERATIONS | 40.00 | $108,817 | $0 | $20,601 | Yes (X) | ||
| ROSS WRIGHT | |||||||
| LINEMAN FOREMAN | 45.70 | $107,682 | $0 | $38,042 | Yes (X) | ||
| JAMES KINTIGH | |||||||
| LINEMAN FOREMAN | 43.10 | $105,262 | $0 | $57,720 | Yes (X) | ||
| DARRIAN FISCHER | |||||||
| JOURNEYMAN LINEMAN | 44.10 | $102,432 | $0 | $14,447 | Yes (X) | ||
| CHAD BERREY | |||||||
| JOURNEYMAN LINEMAN | 44.50 | $102,375 | $0 | $26,790 | Yes (X) | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $849,760 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $242,565 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 8 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (2 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| CR ENVIRONMENTAL INC | |||||
| 1847 100TH ST | CORYDON | IA | 50060 | TREE TRIMMING | $179,597 |
| NATIONAL INFORMATION SOLUTIONS | |||||
| PO BOX 1147 | MANDAN | ND | 58554 | SOFTWARE/PRINTING | $118,308 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 2 | CntrctRcvdGreaterThan100KCnt |
| Info In Schedule O Part VIII | Yes (X) | InfoInScheduleOPartVIIIInd |
Program Service Revenue ProgramServiceRevenueGrp (2 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| SALE OF POWER | 221000 | $14,582,970 | $14,582,970 |
| CAPITAL CREDITS | 221000 | $728,375 | $728,375 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $15,311,345 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $238,109 | TotalRevenueColumnAmt |
| Exclusion | $238,109 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $18,500 | OtherAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $9,500 | OtherAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $9,000 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $9,000 | TotalRevenueColumnAmt |
| Exclusion | $9,000 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Sales Of Inventory | $69,805 | GrossSalesOfInventoryAmt |
| Cost Of Goods Sold | $81,103 | CostOfGoodsSoldAmt |
Net Income Or Loss NetIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -$11,298 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | -$11,298 | RelatedOrExemptFuncIncomeAmt |
Other Revenue Misc OtherRevenueMiscGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | EXTRAORDINARY REVENUE | Desc |
| Business | 221000 | BusinessCd |
| Total Revenue Column | $50,000 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $50,000 | RelatedOrExemptFuncIncomeAmt |
Miscellaneous Revenue MiscellaneousRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $1,946 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $1,946 | RelatedOrExemptFuncIncomeAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $51,946 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $15,599,102 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $15,351,993 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $247,109 | ExclusionAmt |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $15,850 | TotalAmt |
Benefits To Members BenefitsToMembersGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,841,065 | TotalAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $408,598 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,584,260 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $360,727 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $139,894 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $759,737 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,420,579 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| COST OF POWER | $7,676,790 |
| DISTRIBUTION-OPERATIONS | $1,436,157 |
| ADMIN & GENERAL | $1,005,061 |
| DISTRIBUTION-MAINTENANC | $857,343 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | -$2,111,101 | TotalAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $15,394,960 | TotalAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $5,896,328 | BOYAmt |
| EOY | $2,295,944 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,303,433 | BOYAmt |
| EOY | $1,598,994 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $960,193 | BOYAmt |
| EOY | $1,496,308 | EOYAmt |
Inventories For Sale Or Use InventoriesForSaleOrUseGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $945,120 | BOYAmt |
| EOY | $891,291 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $122,195 | BOYAmt |
| EOY | $124,454 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $48,800,167 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $14,591,643 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $31,651,526 | BOYAmt |
| EOY | $34,208,524 | EOYAmt |
Investments Program Related InvestmentsProgramRelatedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $6,976,252 | BOYAmt |
| EOY | $7,338,482 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $5,534 | BOYAmt |
| EOY | $5,935 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $47,860,581 | BOYAmt |
| EOY | $47,959,932 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,203,192 | BOYAmt |
| EOY | $1,390,378 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $21,976,530 | BOYAmt |
| EOY | $20,590,421 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $116,592 | BOYAmt |
| EOY | $117,267 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $23,296,314 | BOYAmt |
| EOY | $22,098,066 | 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 | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $24,564,267 | BOYAmt |
| EOY | $25,861,866 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $24,564,267 | BOYAmt |
| EOY | $25,861,866 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $47,860,581 | BOYAmt |
| EOY | $47,959,932 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $204,142 | ReconcilationRevenueExpnssAmt |
| Other Changes In Net Assets | $1,093,457 | 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
| Field | Value | IRS element (for citing) |
|---|---|---|
| Agent Trustee Etc | 0 | AgentTrusteeEtcInd |
| Incl Escrow Custodial Acct Liab | 0 | InclEscrowCustodialAcctLiabInd |
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $233,056 | OtherCostOrOtherBasisAmt |
| Book Value | $233,056 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $1,996,008 | OtherCostOrOtherBasisAmt |
| Depreciation | $511,698 | DepreciationAmt |
| Book Value | $1,484,310 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $45,076,870 | OtherCostOrOtherBasisAmt |
| Depreciation | $14,079,945 | DepreciationAmt |
| Book Value | $30,996,925 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $1,494,233 | OtherCostOrOtherBasisAmt |
| Book Value | $1,494,233 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $34,208,524 | TotalBookValueLandBuildingsAmt |
Invst Program Related Org InvstProgramRelatedOrgGrp (5 entries)
| DescDesc | Book ValueBookValueAmt | Method ValuationMethodValuationCd |
|---|---|---|
| RURAL ELECTRIC SUPPLY COOPERATIVE | $6,645 | C |
| PATRONAGE CAPITAL CREDITS | $6,737,605 | C |
| NATIONAL RURAL COOPERATIVE FINANCE CORPORATION | $578,527 | C |
| MEMBERSHIPS | $5,705 | C |
| COOPERATIVE RESPONSE CENTER, INC. | $10,000 | C |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Program Rltd | $7,338,482 | TotalBookValueProgramRltdAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (2 entries)
| DescDesc | AmtAmt |
|---|---|
| CUSTOMER DEPOSITS | $46,330 |
| DEFERRED CREDITS | $70,937 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $117,267 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $15,599,102 | TotalRevEtcAuditedFinclStmtAmt |
| Revenue Not Reported | $0 | RevenueNotReportedAmt |
| Revenue Subtotal | $15,599,102 | RevenueSubtotalAmt |
| Revenue Not Reported Fincl Stmt | $0 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $15,599,102 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $13,553,895 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Not Reported | $0 | ExpensesNotReportedAmt |
| Expenses Subtotal | $13,553,895 | ExpensesSubtotalAmt |
| Other Expenses Not Included | $1,841,065 | OtherExpensesNotIncludedAmt |
| Expenses Not Rpt Fincl Stmt | $1,841,065 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $15,394,960 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART X, LINE 2: | THE COOPERATIVE 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, 2024 AND 2023, THE UNRECOGNIZED TAX BENEFIT ACCRUAL WAS ZERO. THE COOPERATIVE WILL 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 2024 MARGINS TO MEMBERS IN 2025 1,841,065. |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| 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 (2 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| HOLI WESTON | ||||||||||||||
| CEO | $129,181 | $0 | $355 | $0 | $7,457 | $0 | $33,920 | $0 | $17,398 | $0 | $188,311 | $0 | $0 | $0 |
| JAMES KINTIGH | ||||||||||||||
| LINEMAN FOREMAN | $104,309 | $0 | $355 | $0 | $598 | $0 | $50,135 | $0 | $8,633 | $0 | $164,030 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | FORM 990, SCHEDULE J, PART II, COLUMN C: | FormAndLineReferenceDesc |
| Explanation | PART II, COLUMN C INCLUDES THE CHANGE IN ACTUARIAL VALUE IN THE DEFINED BENEFIT PLAN OF $28,353 FOR HOLI WESTON AND $46,156 FOR JAMES KINTIGH. THE ACTUAL CONTRIBUTION TO THE DEFINED BENEFIT PLAN FOR HOLI WESTON WAS $27,757 AND $19,686 FOR JAMES KINTIGH. | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (13 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 6 | ALL MEMBERS ARE OF THE SAME CLASS. |
| FORM 990, PART VI, SECTION A, LINE 7A | ALL MEMBERS HAVE ONE VOTE. |
| FORM 990, PART VI, SECTION A, LINE 7B | REVISIONS TO THE ARTICLES OF INCORPORATION REQUIRE A VOTE FROM THE MEMBERS. |
| FORM 990, PART VI, SECTION A, LINE 8B | THE COOPERATIVE DOES NOT HAVE COMMITTEES WITH THE BROAD AUTHORITY TO ACT ON BEHALF OF THE BOARD OF DIRECTORS. |
| FORM 990, PART VI, SECTION B, LINE 11B | THE FORM 990 WILL BE PRESENTED AT THE REGULARLY SCHEDULED BOARD MEETING BY THE CEO. |
| FORM 990, PART VI, SECTION B, LINE 12C | ALL DIRECTORS, OFFICERS, AND MEMBERS OF MANAGEMENT ARE COVERED BY THE CONFLICT OF INTEREST POLICY. POTENTIAL CONFLICTS ARE DISCUSSED AND DETERMINED AT THE BOARD LEVEL. PERSONS WITH CONFLICTS ABSTAIN FROM DISCUSSION AND VOTING ON THE ISSUE AT HAND. |
| FORM 990, PART VI, SECTION B, LINE 15 | THE BOARD OF DIRECTORS DETERMINED THE COMPENSATION FOR THE CEO THROUGH THE USE OF COMPENSATION STUDIES FROM NRECA. THIS PROCESS WAS COMPLETED DURING NOVEMBER 2022. THE BOARD PERFORMED AN EVALUATION OF THE CEO IN ITS MAY 2023 BOARD MEETING. THE DISCUSSION AND DECISION BY THE BOARD WERE DOCUMENTED. NO EVALUATIONS OR COMPARISONS WERE DONE IN 2024 BUT WILL BE DONE GOING FORWARD. |
| FORM 990, PART VI, SECTION C, LINE 19 | THE ARTICLES OF INCORPORATION AND BY-LAWS ARE GIVEN TO NEW MEMBERS. THE FINANCIAL STATEMENTS ARE PROVIDED IN THE ANNUAL REPORT OR UPON REQUEST. THE CONFLICT OF INTEREST POLICY IS AVAILABLE UPON REQUEST. |
| FORM 990, PART VII, COLUMN F, OTHER COMPENSATION: | INCLUDED IN OTHER COMPENSATION IS THE ESTIMATED CURRENT YEAR INCREASE OR DECREASE IN THE ACTUARIAL VALUE OF THE DEFINED BENEFIT PLAN FOR THE CEO. THE CURRENT YEAR INCREASE OR DECREASE DOES NOT REPRESENT CURRENT YEAR CONTRIBUTIONS TO THE PLAN. RATHER, IT IS AN ESTIMATE OF THE INCREASE OR DECREASE IN THE ACTUARIAL VALUE OF THE PLAN AS CALCULATED BY THE PLAN ADMINISTRATOR. |
| FORM 990, PART VIII, LINE 11A: | IN 2023, A VENDOR'S EMAIL WAS COMPROMISED BY A THIRD PARTY, INCLUDING A FRAUDULENT BANK ACCOUNT FOR PAYMENT OF SOME LARGE EQUIPMENT INVOICES. ACH PAYMENTS TOTALLING APPROXIMATELY $260,000 WERE SUBSEQUENTLY SENT TO THE WRONG BANK ACCOUNT. THE LOCAL BANK OF FARMERS ELECTRIC COOPERATIVE WAS ABLE TO RECOVER SOME OF THE REMAINING FUNDS IN THE ACCOUNT, BUT THE TOTAL LOSS OF $239,269 WAS BOOKED AS AN EXTRAORDINARY EXPENSE ON THE 2023 FORM 990, PART IX. FOR 2024, THE $50,000 REPORTED ON PART VIII, LINE 11A IS THE INSURANCE PAYMENT RECEIVED RELATED TO THIS INCIDENT, REPORTED AS EXTRAORDINARY INCOME. IN RESPONSE TO THE INCIDENT, PROCEDURES WERE PUT INTO PLACE IN WHICH THE BANK CALLS THE CONTROLLER PRIOR TO ANY ACH GOING OUT IN ORDER TO VERIFY THE TRANSFER IS PROPERLY AUTHORIZED. |
| FORM 990, PART XI, LINE 9: | RETIREMENT OF CAPITAL CREDITS -747,608. ALLOCATION OF 2024 MARGINS TO MEMBERS IN 2025 1,841,065. |
| FORM 990, PART IX, LINE 24E STATEMENT OF FUNCTIONAL EXPENSES: | THE LABOR, PENSION AND PAYROLL TAXES REPORTED ON LINES 5-10 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, BENEFITS PAID TO OR FOR MEMBERS: | THE COOPERATIVE HAS INTERPRETED THE INSTRUCTIONS TO PART IX, LINE 4, TO MEAN PATRONAGE CAPITAL ALLOCATED FOR THE YEAR, RATHER THAN PATRONAGE CAPITAL RETIRED. THIS IS CONSISTENT WITH THE BY-LAWS OF THE COOPERATIVE. |
Schedule R IRS990ScheduleR
Id Related Org Txbl Corp Tr IdRelatedOrgTxblCorpTrGrp
Related Organization Name RelatedOrganizationName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | SOUTHWEST IOWA FARMERS SERVICE INC | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2389 HWY 92 | AddressLine1Txt |
| City | GREENFIELD | CityNm |
| State Abbreviation | IA | StateAbbreviationCd |
| ZIP | 50849 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 421466097 | EIN |
| Primary Activities | INACTIVE | PrimaryActivitiesTxt |
| Legal Domicile State | IA | LegalDomicileStateCd |
Direct Controlling Entity Name DirectControllingEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | FARMERS ELECTRIC COOPERATIVE INC | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Entity Type | C | EntityTypeTxt |
| Ownership | 1.00000 | OwnershipPct |
| 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 | 0 | SharingOfFacilitiesInd |
| Paid Employees Sharing | 0 | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | 0 | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | 0 | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | 0 | TransferToOtherOrgInd |
| Transfer From Other Org | 0 | TransferFromOtherOrgInd |