2020-05-19T15:11:06-05:00 2019-12-31 410746749 CLIFTONLARSONALLEN LLP 2689 COMMERCE DRIVE NW SUITE 201 ROCHESTER MN 55901 990 2019-01-01 420163705 BUTLER COUNTY RURAL ELECTRIC COOPERATIVE BUTL 3192672726 PO BOX 98 ALLISON IA 506020098 CRAIG CODNER CEO 3192672726 2020-05-07 1 CRAIG POPENHAGEN P01587689 5072802300 2020-04-30 67.137.57.251 2020-05-07 13:16:16 CD P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 6E467283B8BCB693D4562717AE6B4A6395A3DED2 2019 2020-09-23 17:36:50Z CRAIG CODNER PO BOX 98 ALLISON IA 506020098 30795185 0 X WWW.BUTLERREC.COOP X 1936 IA PROVIDING ELECTRICAL SERVICE TO THE MEMBERS OF THE COOPERATIVE. 9 9 42 0 11738 0 0 0 27760546 28574255 385368 383740 3431402 1702930 31577316 30660925 0 0 2482958 993581 363194 347526 0 0 0 27290523 28012545 30136675 29353652 1440641 1307273 59502293 65647152 32237241 36844313 27265052 28802839 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 0 0 1 14 0 1 42 1 1 1 0 0 0 0 28677006 2220930 0 0 0 X 9 9 0 0 1 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X X CRAIG CODNER 3192672726 521 N MAIN ST PO BOX 98 ALLISON IA 506020098 DUANE RIECKENBERG PRESIDENT 4.90 X X 9400 0 0 TROY FELDMAN DIRECTOR 4.10 X 6250 0 0 LELAND BOYD TREASURER 3.70 X X 6125 0 0 ALLYN HARMS DIRECTOR 3.20 X 5750 0 0 SHARE BRANDT DIRECTOR 3.80 X 5750 0 0 GERALD SCHMITT ASSISTANT SECRETARY-TREASU 2.60 X X 5000 0 0 STEVE BOEVERS DIRECTOR 2.40 X 4500 0 0 TIM SCHRAGE SECRETARY 2.20 X X 4250 0 0 GARY POPPE VICE PRESIDENT 3.20 X X 3375 0 0 CRAIG CODNER CEO 40.00 X 149542 0 51597 JANE BRADLEY RECORDING SECRETARY 40.00 X 67776 0 28211 267718 0 79808 1 0 1 0 0 SALE OF POWER 221000 28574255 28574255 28574255 383296 383296 444 0 444 444 444 167552 134260 33292 21554 11738 CAPITAL CREDITS 523000 1669638 1669638 1669638 30660925 30265447 11738 383740 993581 347526 1056210 1684549 COST OF POWER 20993570 ADMIN & GENERAL EXP 1175079 DIST EXPENSE - MAINT 1019517 DIST EXP - OPERATIONS 924939 1158681 29353652 1907048 1577547 1721993 2345622 2739238 2974101 492693 512198 880405 784836 53874499 16462372 36868458 37412127 893 -2027 14290174 19666357 26391 26391 575000 350000 59502293 65647152 2383118 2396786 673554 431566 28411936 33160828 5000 5000 763633 850133 32237241 36844313 X 0 0 0 0 27265052 28802839 27265052 28802839 59502293 65647152 X 1307273 230514 X X 0 1 X 1 0 57567 57567 1725400 1144947 580453 4252962 3223522 1029440 47838570 12093903 35744667 37412127 PAT CAP IN ASSOC ORGS 13122766 C NRUCFC CAPITAL TERM CERTS 515632 C NRUCFC MEMBER CAP SECS 50000 C ECONOMIC DEVEL LOANS 1839834 C REVOLVING LOAN FUNDS 1752696 C OTHER INVESTMENTS 2385429 C 19666357 CONSUMER DEPOSITS 184645 PATRONAGE CAPITAL PAYABLE 20294 ACCUMULATED PROVISION FOR PENSION & BENEFITS 645194 850133 X 30658006 -2919 -2919 30660925 0 30660925 28353233 0 28353233 1000419 1000419 29353652 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, 2019 AND 2018. WITH FEW EXCEPTIONS, THE COOPERATIVE IS NO LONGER SUBJECT TO FEDERAL, STATE, OR LOCAL TAX EXAMINATIONS BY TAX AUTHORITIES FOR YEARS BEFORE 2015. PART XI, LINE 2D - OTHER ADJUSTMENTS: EQUITY EARNINGS -2,919. PART XII, LINE 4B - OTHER ADJUSTMENTS: INTEREST EXPENSE RECORDED AS REVENUE PER AUDIT 6,838. PATRONAGE ALLOCATION 993,581. X X 0 0 0 CRAIG CODNER CEO 149542 0 0 0 0 0 36583 0 15014 0 201139 0 0 0 FORM 990, PART VI, SECTION A, LINE 4 AMENDMENTS TO THE ARTICLES OF INCORPORATION ALLOWING VOTING FOR DIRECTORS THROUGH MAIL-IN BALLOT OR ELECTRONIC MEANS AND THE DETERMINATION OF ELIGIBILITY TO BECOME A DIRECTOR OF THE COOPERATIVE. 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 B, LINE 11B THE BOARD OF DIRECTORS REVIEWED THE FORM 990 PRIOR TO ITS FILING. FORM 990, PART VI, SECTION B, LINE 12C DIRECTORS, OFFICERS AND KEY EMPLOYEES ARE EXPECTED TO DECLARE ANY CONFLICTS OF INTEREST. DIRECTORS ARE TO ABSTAIN FROM DISCUSSIONS AND VOTING ON ANY MATTERS INVOLVING A CONFLICT OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15 CEO AND RECORDING SECRETARY'S COMPENSATION WERE REVIEWED AND APPROVED IN 2019 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 -711,995. NET ACTUARIAL GAIN ON POST RETIREMENT BENEFITS -48,153. BOOK/TAX DIFFERENCE - SUBSIDIARY INCOME -2,919. PATRONAGE DIVIDENDS PAID 993,581. 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 0 FIVE RIVERS DEVELOPMENT CORP 521 NORTH MAIN ALLISON IA 50602 421436185 ECONOMIC DEVELOPMENT IA BUTLER COUNTY REC C -1709 45865 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