2020-07-13T15:48:50-05:00 2019-12-31 410746749 CLIFTONLARSONALLEN LLP 2689 COMMERCE DRIVE NW SUITE 201 ROCHESTER MN 55901 990 2019-01-01 420228180 EASTERN IOWA LIGHT & POWER COOPERATIVE EAST 5637322211 PO BOX 3003 WILTON IA 527783003 KRIK TREDE CEO 5637322211 2020-07-01 1 CRAIG POPENHAGEN P01587689 5072802300 2020-07-01 67.137.57.251 2020-07-01 10:28:57 CD P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 C9F61423AF2F111496A7978B75BE10D20F1A0AB3 2019 2021-01-29 14:40:06Z KIRK TREDE PO BOX 3003 WILTON IA 527783003 66578342 0 X WWW.EASTERNIOWA.COM X 1935 IA PROVISION OF ELECTRICITY TO MEMBERS ON THE COOPERATIVE BASIS INCLUDING OPERATION AND MAINTENANCE OF A RURAL ELECTRIC DISTRIBUTION SYSTEM. 15 15 103 0 0 0 0 0 63922069 62146057 983050 1246989 2889979 3097333 67795098 66490379 0 0 4524442 3907706 1425388 668891 0 0 0 59887927 60055152 65837757 64631749 1957341 1858630 172001226 175639074 85475263 86397046 86525963 89242028 EASTERN IOWA REC IS COMMITTED TO PROVIDING SAFE, RELIABLE AND AFFORDABLE OFFERINGS TO OUR MEMBERS TO ENHANCE THEIR QUALITY OF LIFE. 0 0 PROVISION OF ELECTRICITY TO COOPERATIVE MEMBER-CONSUMERS. DURING 2019 A TOTAL OF 23,863 ACCOUNTS CONSUMED 619,766,752 KWH OF ELECTRICITY. THE COOPERATIVE OWNS, MAINTAINS AND OPERATES 4,856 MILES OF RURAL DISTRIBUTION LINES. THE COOPERATIVE PROVIDES SERVICE TO 18,355 INDIVIDUAL MEMBERS. 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 86 0 103 1 0 0 0 0 0 0 0 62146057 3213168 0 0 0 X 15 15 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 0 1 1 X DAVID ZORICH 5637327343 1705 W THIRD ST WILTON IA 52778 X KIRK TREDE CEO 55.00 X 232148 0 108394 ALLEN KROEGER DIVISION MANAGER OF OPERATIONS 40.00 X 112757 0 87568 ROBERT WIERMERSLAGE DIVISION MANAGER OF ACCOUNTING 40.00 X 116365 0 58452 DENNIS HILL DIVISION MANAGER OF ENGINEERING 48.00 X 114841 0 43538 DAVE MOHR DIVISION MANAGER OF BUSINESS DEVELOPMENT 45.00 X 114713 0 43287 MICHELLE WALKER DIVISION MANAGER OF ADMINSTRATIVE SERVICES 40.00 X 101740 0 37411 DONALD ROTH DIVISION MANAGER OF MEMBER SERVICE 40.00 X 109872 0 28384 TERRY PHILIPS ASST. SECRETARY 5.00 X X 13681 0 0 JOEL CARSTENSEN DIRECTOR 4.00 X 12292 0 0 MICHAEL SHUGER DIRECTOR 3.00 X 12292 0 0 MICHAEL MOES DIRECTOR 4.00 X 11581 0 0 GLENN MCCULLOH DIRECTOR 10.00 X 10877 0 0 KATHRINE WUNDERLICH SECRETARY 6.00 X X 10542 0 0 KENNETH PURDY TREASURER 3.00 X X 10181 0 0 ROBERT CREW DIRECTOR 2.00 X 10176 0 0 THOMAS HOTZ VICE PRESIDENT 4.00 X X 9492 0 0 WILLIAM PETERSEN DIRECTOR 4.00 X 9148 0 0 GARY KESTER PRESIDENT 5.00 X X 9142 0 0 ALLAN DUFFE DIRECTOR 3.00 X 8792 0 0 NANCY VARNER DIRECTOR 5.00 X 7752 0 0 JAMES ROLING DIRECTOR-PART YEAR 1.00 X 5284 0 0 MARK PATTON DIRECTOR 6.00 X 4208 0 0 KURT OLSON DIRECTOR 3.00 X 4208 0 0 LESLIE PAARMANN DIRECTOR-PART YEAR 1.00 X 3884 0 0 1055968 0 407034 7 0 1 0 ASPLUNDH TREE EXPERT CO INC PO BOX 827464 PHILADELPHIA PA 19182 TREE SERVICE 992066 ADVANCED UNDERGROUND INC 11453 31ST STREET DR W MILAN IL 61264 CONSTRUCTION SERVICES 985179 NISC 1 INNOVATION CIRCLE LAKE SAINT LOUIS MO 63367 INFORMATION SERVICES 231897 MIDWEST SPRAY TEAM & SALES INC PO BOX 65668 WEST DES MOINES IA 50265 CHEMICAL TREATMENT SERVICES 123228 SWICK CABLE CONTRACTORS 1923 STATE ST ELY IA 52227 ELECTRIC CONTRACTOR 109867 5 SALE OF POWER 221100 62146057 62146057 62146057 1118927 1118927 12227 0 12227 12227 12227 216025 87963 128062 128062 128062 CAPITAL CREDITS 900099 3081599 3081599 INCOME FROM SUBSIDIARY 900099 3507 3507 3085106 66490379 65231163 0 1259216 X 3907706 668891 3342578 5815565 COST OF POWER 39428859 DISTRIBUTION EXPENSE - 4095961 DISTRIBUTION EXPENSE - 3049458 ADMINISTRATIVE AND GENE 2912120 1410611 64631749 1440160 1711619 7576677 3592929 6561810 6402287 36378 193303 1863051 2582623 203707 3686931 189368624 63782889 121378324 125585735 54200 10863 31312164 31841585 1574755 31199 172001226 175639074 5433648 5390889 2036906 2061919 77644398 78472655 245000 245000 115311 226583 85475263 86397046 X 182710 183550 0 0 86343253 89058478 86525963 89242028 172001226 175639074 X 1858630 857435 X 0 1 X 1 0 2306151 2306151 10493847 1479655 9014192 161267813 62303234 98964579 15300813 15300813 125585735 CENTRAL IOWA POWER COOPERATIVE CAPITAL CREDITS 28046232 C NATIONAL RURAL UTILITIES COOPERATIVE FINANCE CORPORATION 1817106 C RURAL ELECTRIC SUPPLY COOPERATIVE CAPITAL CREDITS 563245 C COBANK CAPITAL CREDITS 481697 C NATIONAL INFORMATION SYSTEM COOPERATIVE CAPITAL CREDITS 82309 C EQUIY OF NEW RESOURCES (AFFILIATE) 193817 C EQUITY OF NEW VENTURES (SUBSIDIARY) 280854 C FORMER HEADQUARTERS PROPERTY HELD FOR SALE 260859 F OTHER 115466 C 31841585 CONSUMER DEPOSITS 226583 226583 X 66490379 0 66490379 0 66490379 60724043 0 60724043 3907706 3907706 64631749 PART X, LINE 2: THE COOPERATIVE EVALUATED ITS TAX POSITIONS AND DETERMINED THAT IT HAS NO UNCERTAIN TAX POSITIONS AS OF DECEMBER 31, 2019 AND 2018. PART XII, LINE 4B - OTHER ADJUSTMENTS: PATRONAGE ALLOCATION 3,907,706. PARTS XI AND XII ALTHOUGH NOT REQUIRED TO BE COMPLETED, EASTERN IOWA LIGHT AND POWER COOPERATIVE ELECTS TO COMPLETE THESE PARTS AS IT BELIEVES THAT THE INFORMATION CONTAINED IN THESE SCHEDULES WOULD BE HELPFUL AND INFORMATIVE TO THE USER OF THE FORM 990. PART XII, LINE 4B, OTHER 2019 CAPITAL CREDITS ALLOCATED AND EXPENSED ON FORM 990 - SEE DISCLOSURE ON SCHEDULE O FOR PART IX, PAGE 10, QUESTION 4 $3,907,706 1 X X 0 0 0 KIRK TREDE CEO 223835 0 20 0 8293 0 85217 0 23177 0 340542 0 0 0 ALLEN KROEGER DIVISION MANAGER OF OPERATIONS 110958 0 362 0 1437 0 77218 0 10350 0 200325 0 0 0 ROBERT WIERMERSLAGE DIVISION MANAGER OF ACCOUNTING 114812 0 130 0 1423 0 40450 0 18002 0 174817 0 0 0 DENNIS HILL DIVISION MANAGER OF ENGINEERING 113701 0 182 0 958 0 32881 0 10657 0 158379 0 0 0 DAVE MOHR DIVISION MANAGER OF BUSINESS DEVELOP 111949 0 45 0 2719 0 27406 0 15881 0 158000 0 0 0 PART II, LINES 1 THROUGH 6, COLUMN C - RETIREMENT & DEFERRED COMPENSATION THE COOPERATIVE HAS INTERPRETED THE INSTRUCTIONS FOR COLUMN C TO INCLUDE BOTH THE CONTRIBUTIONS PAID TO THE DEFINED BENEFIT RETIREMENT PLAN AND THE INCREASE IN THE ACTUARIAL VALUE OF PLAN ASSETS ATTRIBUTABLE TO THE LISTED COOPERATIVE OFFICER OR HIGHLY COMPENSATED EMPLOYEE. THE COOPERATIVE IS A PARTICIPANT IN THE NATIONAL RURAL ELECTRIC COOPERATIVE ASSOCIATION (NRECA) RETIREMENT SECURITY PLAN (RS PLAN) WHICH IS A DEFINED BENEFIT PLAN QUALIFIED UNDER SECTION 401 AND TAX-EXEMPT UNDER SECTION 501(A) OF THE INTERNAL REVENUE CODE. IT IS A MULTI-EMPLOYER PLAN UNDER THE ACCOUNTING STANDARDS. ALL FULL-TIME EMPLOYEES OF THE COOPERATIVE ARE COVERED BY THE PLAN AFTER A 12 MONTH WAITING PERIOD. THE COOPERATIVE MAKES CONTRIBUTIONS TO THE PLAN BASED ON A PERCENTAGE OF THE PRIOR YEAR REGULAR TIME EARNINGS OF EACH EMPLOYEE. FOR 2019, THE COOPERATIVE MAKE CONTRIBUTIONS TO THE PLAN ON BEHALF OF THE LISTED EMPLOYEES. IN ADDITION, COLUMN C INCLUDES THE ANNUAL INCREASE IN THE ACTUARIAL VALUE OF THE PLAN ASSETS ATTRIBUTABLE TO THESE EMPLOYEES. THE AMOUNTS FOR THE LISTED EMPLOYEES ARE AS FOLLOWS: EMPLOYEE: KIRK W TREDE EMPLOYER PLAN CONTRIBUTIONS: $41,719 INCREASE IN ACTUARIAL VALUE OF PLAN ASSETS: $85,217 ROBERT WIERMERSLAGE EMPLOYER PLAN CONTRIBUTIONS: $19,868 INCREASE IN ACTUARIAL VALUE OF PLAN ASSETS: $40,450 DAVE MOHR EMPLOYER PLAN CONTRIBUTIONS: $19,898 INCREASE IN ACTUARIAL VALUE OF PLAN ASSETS: $27,406 ALLEN KROEGER EMPLOYER PLAN CONTRIBUTIONS: $19,411 INCREASE IN ACTUARIAL VALUE OF PLAN ASSETS: $77,218 DENNIS HILL EMPLOYER PLAN CONTRIBUTIONS: $20,546 INCREASE IN ACTUARIAL VALUE OF PLAN ASSETS: $32,881 DONALD ROTH EMPLOYER PLAN CONTRIBUTIONS: $18,651 INCREASE IN ACTUARIAL VALUE OF PLAN ASSETS: $26,430 MICHELLE WALKER EMPLOYER PLAN CONTRIBUTIONS: $17,707 INCREASE IN ACTUARIAL VALUE OF PLAN ASSETS: $14,542 FORM 990, PART VI, SECTION A, LINE 6 ALL ELECTRIC CUSTOMERS OF THE COOPERATIVE ARE VOTING MEMBERS. EACH MEMBER IS ENTITLED TO ONE VOTE. FORM 990, PART VI, SECTION A, LINE 7A THE COOPERATIVE IS DIVIDED INTO FIVE DISTRICTS OF REASONABLY EQUAL SIZE. EACH MEMBER IN THE DISTRICT HAS ONE VOTE PER DIRECTOR TO BE ELECTED. EACH DISTRICT ELECTS THREE MEMBERS TO THE 15-MEMBER BOARD OF DIRECTORS. IN NORMAL CIRCUMSTANCES THE TERMS IN EACH DISTRICT ARE FOR THREE YEARS AND ARE STAGGERED SO THAT EACH DISTRICT ELECTS ONLY ONE DIRECTOR EACH YEAR. AT CERTAIN TIMES, BECAUSE OF THE RESIGNATION OR DEATH OF A DIRECTOR, A DISTRICT MAY HAVE MULTIPLE ELECTIONS FOR BOARD MEMBERS. FORM 990, PART VI, SECTION A, LINE 7B THE COOPERATIVE MAY NOT SELL, MORTGAGE, LEASE OR OTHERWISE DISPOSE OF OR ENCUMBER ALL OR A SUBSTANTIAL PORTION OF ITS PROPERTY UNLESS IT IS AUTHORIZED BY THE MAJORITY OF ALL ITS MEMBERS. FORM 990, PART VI, SECTION B, LINE 11B A COPY OF THE FORM 990 IS PROVIDED TO THE CEO FOR REVIEW PRIOR TO FILING WITH THE IRS. THE FIRST BOARD OF DIRECTOR MEETING AFTER THE 990 IS FILED, THE FORM 990 WILL BE REVIEWED BY THE BOARD OF DIRECTORS. THIS IS DONE BY SHOWING THE FORM 990 IN ITS' ENTIRETY TO THE BOARD AND REVIEWING THE FINANCIAL DATA AND DISCLOSURES THAT MANAGEMENT DEEMS TO BE SIGNIFICANT. AT THAT TIME THE BOARD MAY RATIFY THE FORM 990 AS FILED OR REQUEST CHANGES. IF CHANGES ARE DEEMED TO BE NECESSARY, AN AMENDED FORM 990 WILL BE FILED WITH IRS IN A TIMELY MANNER. FORM 990, PART VI, SECTION B, LINE 12C EACH BOARD MEMBER AND COOPERATIVE EMPLOYEE IS REQUIRED TO ANNUALLY DISCLOSE ACTIVITIES AND RELATIONSHIPS THAT COULD BE CONSIDERED AS A CONFLICT OF INTEREST AS DEFINED BY THE COOPERATIVE'S CODE OF CONDUCT/ETHICS POLICY. ALL POTENTIAL CONFLICTS ARE REVIEWED. A MANAGEMENT EMPLOYEE AND THE CEO REVIEWS THE EMPLOYEE DISCLOSURES; THE CEO REVIEWS THE BOARD DISCLOSURES AND THE BOARD PRESIDENT REVIEWS THE CEO'S DISCLOSURE. A RECAP OF POTENTIAL CONFLICTS IS THEN REVIEWED BY THE BOARD OF DIRECTORS TO DETERMINE IF AN ACTUAL CONFLICT EXITS. IF SO, THE BOARD DECIDES HOW THE COOPERATIVE WILL DEAL WITH THESE CONFLICTS. THIS MAY INCLUDE REQUESTING COOPERATIVE EMPLOYEES TO AVOID TRANSACTIONS WITH CERTAIN EMPLOYEES, COMPANIES OR ORGANIZATIONS, REQUESTING THAT CERTAIN INDIVIDUALS ABSTAIN IN THE DECISION MAKING ON CERTAIN TRANSACTIONS, OR RATIFYING CERTAIN TRANSACTIONS OR DECISIONS. ALL ACTIONS ARE DOCUMENTED. FORM 990, PART VI, SECTION B, LINE 15A THE BOARD OF DIRECTORS ESTABLISHES THE COMPENSATION LEVEL FOR THE CEO. THIS IS BASED ON DATA PROVIDED BY A NATIONAL TRADE ORGANIZATION AND THE STATE EMPLOYMENT BUREAU. A COMPENSATION CONSULTANT HAS PERIODICALLY BEEN USED. DECISIONS ON COMPENSATION ARE COMMUNICATED IN A TIMELY MANNER TO APPROPRIATE HUMAN RESOURCES AND PAYROLL PERSONNEL BY THE BOARD PRESIDENT. THIS PROCESS IS DOCUMENTED. FORM 990, PART VI, SECTION C, LINE 19 EASTERN IOWA LIGHT AND POWER COOPERATIVE WILL MAKE SELECTED GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC OR TO ITS' MEMBERS UPON REQUEST. THE COOPERATIVE PROVIDES FINANCIAL STATEMENTS IN ITS ANNUAL REPORT, WHICH IS GIVEN TO ALL MEMBERS ATTENDING DISTRICT MEETINGS. FINANCIAL STATEMENTS ARE ALSO PERIODICALLY INCLUDED IN THE MEMBER NEWSLETTER WHICH IS MAILED TO ALL MEMBERS. PART VI, PAGE 6, QUESTION 16, INVESTMENT IN TAXABLE ENTITY THE COOPERATIVE HAS INVESTED IN NEW RESOURCES, INC. WHICH IS CO-OWNED WITH OTHER RURAL ELECTRIC COOPERATIVES. EASTERN APPOINTS TWO BOARD MEMBERS TO THE BOARD OF NEW RESOURCES, INC. WHICH CONDUCTS BUSINESS ACTIVITIES THAT ALL OWNING COOPERATIVES WISH TO PURSUE. THE EFFECT OF OWNERSHIP OF THE TAXABLE ENTITY ON THE TAX STATUS OF THE COOPERATIVE IS PERIODICALLY REVIEWED. PART VII, PAGE 7, COMPENSATION OF OFICERS AND DIRECTORS USERS OF THIS FORM 990 SHOULD REVIEW THE DISCLOSURE RELATED TO RETIREMENT AND OTHER DEFERRED COMPENSATION IN THE ATTACHED SCHEDULE J - PAGE 3. PART IX, PAGE 10, QUESTION 4, BENEFITS PAID TO OR FOR MEMBERS THE IRS INSTRUCTIONS STATE THAT PATRONAGE DIVIDENDS PAID BY SECTION 50I(C)(12) ORGANIZATIONS TO THEIR MEMBERS SHOULD BE REPORTED ON LINE 4. THE COOPERATIVE 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 ALSO RESULTS IN A RECONCILING ITEM TO NET ASSETS IN PART XI, ON PAGE 12 OF THE FORM 990. FORM 990, PART XI, LINE 9: CAPITAL CREDITS RETIRED -3,113,951. CHANGE IN MEMBERSHIP AND OTHER EQUITIES 63,680. PATRONAGE ALLOCATION 3,907,706. NEW VENTURES INC PO BOX 3003 WILTON IA 52778 421328834 ECONOMIC DEVELOPMENT IA 501(C)(4) N/A N/A 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 1 0 0 NO TRANSACTIONS GREATER THAN 50000