LINN COUNTY RURAL ELECTRIC COOPERATIVE ASSOCIATION: Form 990, tax year 2018
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- Organization
- LINN COUNTY RURAL ELECTRIC COOPERATIVE ASSOCIATION (EIN 42-0381704)
- Tax period
- 2018-01-01 to 2018-12-31
- Filed
- 2019-09-24
- IRS object ID
- 201922679349300312
- Schema version
- 2018v3.1
- 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 | 2019-09-24T08:45:59-05:00 | ReturnTs |
| Tax Period End | 2018-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 410746479 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | CLIFTONLARSONALLEN LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2689 COMMERCE DRIVE NW SUITE 201 | AddressLine1Txt |
| City | ROCHESTER | CityNm |
| State Abbreviation | MN | StateAbbreviationCd |
| ZIP | 55901 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2018-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 420381704 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | LINN COUNTY RURAL ELECTRIC COOPERATIVE | BusinessNameLine1Txt |
| Business Name Line2 | ASSOCIATION | BusinessNameLine2Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | LINN | BusinessNameControlTxt |
| Phone | 3193771587 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 5695 REC DRIVE PO BOX 69 | AddressLine1Txt |
| City | MARION | CityNm |
| State Abbreviation | IA | StateAbbreviationCd |
| ZIP | 523020069 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | TERRY SULLIVAN | PersonNm |
| Person Title | GENERAL MANAGER/CEO | PersonTitleTxt |
| Phone | 3193771587 | PhoneNum |
| Signature | 2019-09-17 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | CRAIG POPENHAGEN | PreparerPersonNm |
| PTIN | P01587689 | PTIN |
| Phone | 5072802300 | PhoneNum |
| Preparation | 2019-09-05 | PreparationDt |
Filing Security Information FilingSecurityInformation
IP Address IPAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| I Pv4 Address | 67.137.57.251 | IPv4AddressTxt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IP | 2019-09-17 | IPDt |
| IP Tm | 15:40:58 | IPTm |
| IP Timezone | CD | IPTimezoneCd |
| Filing License Type | P | FilingLicenseTypeCd |
| At Submission Creation Device Id | DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 | AtSubmissionCreationDeviceId |
| At Submission Filing Device Id | E15E9B4EB1A60BD1D702B694EDC9E6CB78BD26C3 | AtSubmissionFilingDeviceId |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2018 | TaxYr |
| Build TS | 2019-02-21 02:37:17Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | TERRY SULLIVAN | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 5695 REC DRIVE PO BOX 69 | AddressLine1Txt |
| City | MARION | CityNm |
| State Abbreviation | IA | StateAbbreviationCd |
| ZIP | 523020069 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $53,823,827 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | WWW.LINNCOUNTYREC.COM | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1938 | FormationYr |
| Legal Domicile State | IA | LegalDomicileStateCd |
| Activity Or Mission | PROVIDING ELECTRICAL SERVICE TO THE MEMBERS OF THE COOPERATIVE. | ActivityOrMissionDesc |
| Voting Members Governing Body | 7 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 7 | VotingMembersIndependentCnt |
| Total Employee | 75 | TotalEmployeeCnt |
| Total Volunteers | 0 | TotalVolunteersCnt |
| Total Gross UBI | -$10,824 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $49,334,127 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $50,993,391 | CYProgramServiceRevenueAmt |
| PY Investment Income | $257,494 | PYInvestmentIncomeAmt |
| CY Investment Income | $369,603 | CYInvestmentIncomeAmt |
| PY Other Revenue | $3,328,856 | PYOtherRevenueAmt |
| CY Other Revenue | $2,369,204 | CYOtherRevenueAmt |
| PY Total Revenue | $52,920,477 | PYTotalRevenueAmt |
| CY Total Revenue | $53,732,198 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $0 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $0 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $1,000,000 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $1,000,000 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $459,103 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $482,836 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $47,527,176 | PYOtherExpensesAmt |
| CY Other Expenses | $49,306,570 | CYOtherExpensesAmt |
| PY Total Expenses | $48,986,279 | PYTotalExpensesAmt |
| CY Total Expenses | $50,789,406 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $3,934,198 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $2,942,792 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $148,909,026 | TotalAssetsBOYAmt |
| Total Assets EOY | $159,491,284 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $93,435,255 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $100,469,188 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $55,473,771 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $59,022,096 | NetAssetsOrFundBalancesEOYAmt |
| Mission | PROVIDING ELECTRICAL SERVICE TO THE MEMBERS OF THE COOPERATIVE. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Desc | COOPERATIVE PURCHASED POWER FROM CENTRAL IOWA POWER COOPERATIVE IN 2018 FOR $31,212,849 FOR DISTRIBUTION TO COOPERATIVE MEMBERS. | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | COOPERATIVE DISTRIBUTED PURCHASED POWER TO MEMBERS OVER 2,341 MILES OF DISTRIBUTION LINE. | Desc |
Prog Srvc Accom Acty3 ProgSrvcAccomActy3Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | THE COOPERATIVE BILLED 29,295 SERVICES ON A MONTHLY BASIS. | Desc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| 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 |
| Temp Or Permanent Endowments | 0 | TempOrPermanentEndowmentsInd |
| 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 | 0 | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | Yes (1) | 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 With Officer Ent | 0 | BusinessRlnWithOfficerEntInd |
| 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 | Yes (1) | TransactionWithControlEntInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 16 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Employee | 75 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | Yes (1) | UnrelatedBusIncmOverLimitInd |
| Form990 T Filed | Yes (1) | Form990TFiledInd |
| 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 | $52,094,316 | MembersAndShrGrossIncomeAmt |
| Other Sources Gross Income | $2,804,513 | 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 | 7 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 7 | 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 | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (1) | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | JENNIFER FEDDERSEN | PersonNm |
| Phone | 3193771587 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 5695 REC DRIVE | AddressLine1Txt |
| City | MARION | CityNm |
| State Abbreviation | IA | StateAbbreviationCd |
| ZIP | 523020069 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (14 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 |
|---|---|---|---|---|---|---|---|
| GARY SCHROPP | |||||||
| PRESIDENT | 5.70 | Yes (X) | Yes (X) | $23,500 | $0 | $0 | |
| RON O'NEIL | |||||||
| VICE PRESIDENT | 4.80 | Yes (X) | Yes (X) | $15,000 | $0 | $0 | |
| LISA ROSE | |||||||
| SECRETARY | 1.40 | Yes (X) | Yes (X) | $6,000 | $0 | $0 | |
| ROGER KRUG | |||||||
| DIRECTOR | 2.40 | Yes (X) | Yes (X) | $7,500 | $0 | $0 | |
| KIRK HILAND | |||||||
| TREASURER | 4.90 | Yes (X) | Yes (X) | $16,500 | $0 | $0 | |
| KENNETH SQUIRES | |||||||
| DIRECTOR | 4.10 | Yes (X) | $14,500 | $0 | $0 | ||
| JEANNA SAGER | |||||||
| ASSISTANT SECRETARY | 2.60 | Yes (X) | $9,500 | $0 | $0 | ||
| TERRY SULLIVAN | |||||||
| GM/CEO | 45.00 | Yes (X) | $190,883 | $0 | $39,678 | ||
| NAROTTAM J PATEL | |||||||
| CONTROLLER - PART YEAR | 42.00 | Yes (X) | $130,779 | $0 | $28,996 | ||
| KEVIN STUCKER | |||||||
| LEAD ENGINEER | 44.00 | $120,108 | $0 | $30,816 | Yes (X) | ||
| JENNIFER FEDDERSEN | |||||||
| CONTROLLER | 42.00 | $115,685 | $0 | $27,474 | Yes (X) | ||
| STEVEN CARROLL | |||||||
| MEMBER SERVICES SUPERVISOR | 42.00 | $111,440 | $0 | $22,154 | Yes (X) | ||
| LEN TOW | |||||||
| LINE SUPERINTENDENT - PART YEAR | 41.00 | $105,758 | $0 | $27,703 | Yes (X) | ||
| GREG HANCOX | |||||||
| SUB FOREMAN | 45.00 | $104,829 | $0 | $29,259 | Yes (X) | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $971,982 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $206,080 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 13 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (5 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| RINDERKNECHT | |||||
| 100 29TH AVENUE | CEDAR RAPIDS | IA | 52404 | BUILDING CONTRACTOR | $1,055,755 |
| SWICK CABLE CONTRACTOR'S | |||||
| PO BOX 107 | TIPTON | IA | 52772 | ELECTRICAL CONTRACTOR | $656,427 |
| VAN WERT ENTERPRISES | |||||
| 606 8TH ST | GRUNDY CENTER | IA | 50638 | METER READING | $530,969 |
| EILERTSON INC | |||||
| PO BOX 1025 | FOND DU LAC | WI | 54935 | ELECTRICAL CONTRACTOR | $517,973 |
| ASPLUNDH | |||||
| 1700 SOLUTIONS CENTER | CHICAGO | IL | 60677 | TREE CONTRACTOR | $400,740 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 13 | CntrctRcvdGreaterThan100KCnt |
Program Service Revenue ProgramServiceRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | SALE OF POWER | Desc |
| Business | 221000 | BusinessCd |
| Total Revenue Column | $50,993,391 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $50,993,391 | RelatedOrExemptFuncIncomeAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $50,993,391 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $238,432 | TotalRevenueColumnAmt |
| Unrelated Business Revenue | $17,108 | UnrelatedBusinessRevenueAmt |
| Exclusion | $221,324 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $222,800 | OtherAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $91,629 | OtherAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $131,171 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $131,171 | TotalRevenueColumnAmt |
| Exclusion | $131,171 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Sales Of Inventory | $62,008 | GrossSalesOfInventoryAmt |
| Cost Of Goods Sold | $0 | CostOfGoodsSoldAmt |
Net Income Or Loss NetIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $62,008 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $62,008 | RelatedOrExemptFuncIncomeAmt |
Other Revenue Misc OtherRevenueMiscGrp (3 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt | Unrelated Business RevenueUnrelatedBusinessRevenueAmt |
|---|---|---|---|---|
| CAPITAL CREDITS | 523000 | $2,330,042 | $2,330,042 | |
| MISCELLANEOUS | 900099 | $5,086 | $5,086 | |
| MYRIAD INTEREST EXPENSE | 900099 | -$27,932 | -$27,932 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $2,307,196 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $53,732,198 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $53,390,527 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | -$10,824 | UnrelatedBusinessRevenueAmt |
| Exclusion | $352,495 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part IX | Yes (X) | InfoInScheduleOPartIXInd |
Benefits To Members BenefitsToMembersGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,000,000 | TotalAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $482,836 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,933,452 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,910,748 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| COST OF POWER | $31,212,849 |
| DIST EXP-OPERATIONS | $3,287,970 |
| ADMIN & GENERAL EXPENSE | $1,913,564 |
| CONSUMER ACCOUNT EXPENS | $1,802,235 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,245,752 | TotalAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $50,789,406 | TotalAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $9,859 | BOYAmt |
| EOY | $9,859 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,695,680 | BOYAmt |
| EOY | $1,334,437 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,440,337 | BOYAmt |
| EOY | $4,851,696 | EOYAmt |
Inventories For Sale Or Use InventoriesForSaleOrUseGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,556,599 | BOYAmt |
| EOY | $2,876,020 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $169,310 | BOYAmt |
| EOY | $48,869 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $154,898,753 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $39,669,036 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $104,999,610 | BOYAmt |
| EOY | $115,229,717 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,884,840 | BOYAmt |
| EOY | $1,932,614 | EOYAmt |
Investments Program Related InvestmentsProgramRelatedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $32,916,960 | BOYAmt |
| EOY | $32,994,635 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $235,831 | BOYAmt |
| EOY | $213,437 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $148,909,026 | BOYAmt |
| EOY | $159,491,284 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,594,165 | BOYAmt |
| EOY | $4,358,962 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,647,846 | BOYAmt |
| EOY | $1,519,411 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $86,756,983 | BOYAmt |
| EOY | $94,137,595 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $436,261 | BOYAmt |
| EOY | $453,220 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $93,435,255 | BOYAmt |
| EOY | $100,469,188 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Org Does Not Follow SFAS117 | Yes (X) | OrgDoesNotFollowSFAS117Ind |
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 | $55,473,771 | BOYAmt |
| EOY | $59,022,096 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $55,473,771 | BOYAmt |
| EOY | $59,022,096 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $148,909,026 | BOYAmt |
| EOY | $159,491,284 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $2,942,792 | ReconcilationRevenueExpnssAmt |
| Other Changes In Net Assets | $605,535 | OtherChangesInNetAssetsAmt |
| Info In Schedule O Part XII | Yes (X) | InfoInScheduleOPartXIIInd |
| 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) |
|---|---|---|
| Consolidated Basis Fincl Stmt | Yes (X) | ConsolidatedBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule D IRS990ScheduleD
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $914,852 | OtherCostOrOtherBasisAmt |
| Book Value | $914,852 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $7,910,167 | OtherCostOrOtherBasisAmt |
| Depreciation | $2,133,669 | DepreciationAmt |
| Book Value | $5,776,498 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $6,279,049 | OtherCostOrOtherBasisAmt |
| Depreciation | $3,902,001 | DepreciationAmt |
| Book Value | $2,377,048 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $139,794,685 | OtherCostOrOtherBasisAmt |
| Depreciation | $33,633,366 | DepreciationAmt |
| Book Value | $106,161,319 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $115,229,717 | TotalBookValueLandBuildingsAmt |
Invst Program Related Org InvstProgramRelatedOrgGrp (7 entries)
| DescDesc | Book ValueBookValueAmt | Method ValuationMethodValuationCd |
|---|---|---|
| OTHER INVEST IN ASSOC ORGANIZATIONS | $802,030 | C |
| PAT CAP FROM ASSOC ORGS | $26,284,132 | C |
| NRUCFC CAP TERM CERTS | $1,323,686 | C |
| NRUCFC MEMBER CAP SEC | $4,000,000 | C |
| OTHER INVESTMENTS | $84,787 | C |
| NOTE RECEIVABLE-CORRIDOR | $300,000 | C |
| ECONOMIC DEVELOPMENT LOAN | $200,000 | C |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Program Rltd | $32,994,635 | TotalBookValueProgramRltdAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (3 entries)
| DescDesc | AmtAmt |
|---|---|
| CONSUMER DEPOSITS | $201,640 |
| PATRONAGE CAPITAL PAYABLE | $86,746 |
| ACCUM PROVISION FOR PENSION & BENEFITS | $164,834 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $453,220 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART X, LINE 2: | FormAndLineReferenceDesc |
| Explanation | THE COOPERATIVE IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(12) OF THE INTERNAL REVENUE CODE (IRC). CORRIDOR DEVELOPMENT, INC.'S INCOME TAX EXPENSE FOR THE YEARS ENDED DECEMBER 31, 2018 AND 2017 WAS $22,994 AND $17,964, RESPECTIVELY. THE COOPERATIVE HAS EVALUATED ITS TAX POSITIONS AND DETERMINED IT HAS NO UNCERTAIN TAX POSITIONS AS OF DECEMBER 31, 2018. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Written Employment Contract | Yes (X) | WrittenEmploymentContractInd |
| 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 (3 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| TERRY SULLIVAN | ||||||||||||||
| GM/CEO | $190,883 | $0 | $0 | $0 | $0 | $0 | $28,028 | $0 | $11,650 | $0 | $230,561 | $0 | $0 | $0 |
| NAROTTAM J PATEL | ||||||||||||||
| CONTROLLER - PART YEAR | $130,779 | $0 | $0 | $0 | $0 | $0 | $18,302 | $0 | $10,694 | $0 | $159,775 | $0 | $0 | $0 |
| KEVIN STUCKER | ||||||||||||||
| LEAD ENGINEER | $120,108 | $0 | $0 | $0 | $0 | $0 | $17,646 | $0 | $13,170 | $0 | $150,924 | $0 | $0 | $0 |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (11 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| 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 | MEMBERS ELECT THE BOARD OF DIRECTORS. THERE IS ONE CLASS OF MEMBERSHIP. |
| FORM 990, PART VI, SECTION A, LINE 7B | MEMBERS VOTE ON CHANGES TO THE ARTICLES OF INCORPORATION. |
| FORM 990, PART VI, SECTION A, LINE 8B | THE COOPERATIVE DOES NOT HAVE COMMITTEES; THEREFORE, COMMITTEE MEETINGS ARE NOT DOCUMENTED. |
| FORM 990, PART VI, SECTION B, LINE 11B | GM/CEO AND CONTROLLER REVIEW THE FULL FORM 990 AFTER IT IS COMPILED BY THE STAFF AND AUDIT FIRM AT A REGULAR BOARD MEETING. ANY SUGGESTED CHANGES OR ADDITIONS ARE REVIEWED AND FORWARDED TO THE AUDIT FIRM, PRIOR TO FILING WITH THE IRS. |
| FORM 990, PART VI, SECTION B, LINE 12C | THE BOARD REVIEWS THE CONFLICT OF INTEREST POLICY ON AN ANNUAL BASIS WITH GENERAL COUNSEL GUIDANCE. FOLLOWING THE REVIEW THE BOARD COMPLETES A CONFLICT OF INTEREST DISCLOSURE STATEMENT. IT IS THE GM/CEO'S RESPONSIBILITY TO PROVIDE ASSISTANCE TO THE BOARD TO ASSURE COMPLIANCE WITH THIS POLICY AND TO DEVELOP AND ENFORCE APPROPRIATE MANAGEMENT POLICY RELATING TO CONFLICTS OF INTEREST OF EMPLOYEES. DIRECTORS AND EMPLOYEES ARE REQUIRED TO MAKE FULL DISCLOSURE TO THE BOARD AND/OR COOPERATIVE OF ANY FACTS WHICH MAY INDICATE A CONFLICT OF INTEREST. THEY SHALL DISQUALIFY THEMSELVES FROM DECISIONS WHICH POSE A CONFLICT OF INTEREST OR THE APPEARANCE OF A CONFLICT OF INTEREST. THEY MAY REQUEST AN OPINION OF THE COOPERATIVE'S GENERAL COUNSEL BEFORE SUCH ACTION IS TAKEN. |
| FORM 990, PART VI, SECTION B, LINE 15 | THE CEO'S SALARY AND THE COMPENSATION OF THE BOARD OF DIRECTORS IS SET BY THE BOARD ON AN ANNUAL BASIS BASED UPON LOCAL, REGIONAL AND NATIONAL COMPENSATION DATA. A COMPENSATION CONSULTANT IS USED APPROXIMATELY EVERY FIVE YEARS. THIS COMPENSATION CONSULTANT WAS LAST UTILIZED IN 2014. DOCUMENTATION OF THE ANNUAL COMPENSATION DETERMINATION IS LOCATED IN THE PERSONNEL FILE. THE MANAGEMENT STAFF SALARY IS SET ON AN ANNUAL BASIS BY CEO USING LOCAL, REGIONAL AND NATIONAL COMPENSATION DATA. DOCUMENTATION OF THE ANNUAL COMPENSATION DETERMINATION IS LOCATED IN THE PERSONNEL FILE. |
| FORM 990, PART VI, SECTION C, LINE 19 | ARTICLES AND BYLAWS ARE PROVIDED TO MEMBERS UPON RECEIVING SERVICE OR UPON A LATER REQUEST. CONFLICT OF INTEREST POLICY UPON REQUEST. FINANCIAL STATEMENTS IN AN ANNUAL REPORT MAILED TO MEMBERS AND UPON REQUEST. |
| 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. |
| FORM 990, PART XI, LINE 9: | CAPITAL CREDITS RETIRED -494,982. CHANGE IN OTHER EQUITIES 27,136. EQUITY IN EARNINGS OF SUBSIDIARY 37,774. EXPENSE INCLUDED ON 990 NOT ON BOOKS (INVOLTA HOLDINGS, LLC #26-0610499) 35,617. PATRONAGE DIVIDENDS PAID 1,000,000. ROUNDING -10. |
| FORM 990, PART XII, LINE 2C | AUDIT FIRM IS NOT LIMITED IN NUMBER OF YEARS AS LONG AS DIFFERENT PARTNER LEADS THE AUDIT EVERY FIVE YEARS |
Schedule R IRS990ScheduleR
Id Related Org Txbl Corp Tr IdRelatedOrgTxblCorpTrGrp (2 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | EINEIN | Primary ActivitiesPrimaryActivitiesTxt | Legal Domicile StateLegalDomicileStateCd | Business Name Line1DirectControllingEntityName/BusinessNameLine1Txt | Entity TypeEntityTypeTxt | Share Of Total IncomeShareOfTotalIncomeAmt | Share Of EOY AssetsShareOfEOYAssetsAmt | OwnershipOwnershipPct | Controlled OrganizationControlledOrganizationInd |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| CORRIDOR DEVELOPMENT INC | ||||||||||||
| 5695 REC DR | MARION | IA | 52302 | 421370547 | ECONOMIC DEVELOPMENT | IA | LINN COUNTY REC | C | $42,766 | $1,994,169 | 1.00000 | Yes (1) |
| MYRIAD DEVELOPERS LC | ||||||||||||
| 5695 REC DR | MARION | IA | 52302 | 421370547 | RENTAL REAL ESTATE | IA | CORRIDOR DEVELOPMENT INC | C | $65,191 | $1,835,071 | 1.00000 | 0 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | Yes (1) | 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 | Yes (1) | 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 | Yes (1) | 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 |
Transactions Related Org TransactionsRelatedOrgGrp (2 entries)
| Transaction TypeTransactionTypeTxt | InvolvedInvolvedAmt | Method Of Amount DeterminationMethodOfAmountDeterminationTxt |
|---|---|---|
| CORRIDOR DEVELOPMENT INC | ||
| D | $300,000 | ACTUAL |
| CORRIDOR DEVELOPMENT INC | ||
| A | $17,108 | ACTUAL |