2025-10-14T13:44:07-05:00 2024-12-31 410746749 CLIFTONLARSONALLEN LLP 2689 COMMERCE DRIVE NW SUITE 201 ROCHESTER MN 55901 990 2024-01-01 370345145 ILLINOIS ELECTRIC COOPERATIVE ILLI 2172438700 2 SOUTH MAIN STREET WINCHESTER IL 62694 JIM FREEMAN TREASURER 2172438700 2025-10-08 1 0 KATHERINE LUTZKE CPA P01760889 5072802300 2025-10-08 2024 2025-03-06 01:10:19Z JIM FREEMAN 2 SOUTH MAIN STREET WINCHESTER IL 62694 45797830 0 X WWW.E-CO-OP.COM X 1936 IL DEDICATED TO IMPROVING THE QUALITY OF LIFE FOR MEMBERS THROUGH DEPENDABILITY AND INNOVATION. 11 11 65 0 0 0 0 0 42738948 43926273 384751 621719 1204196 1225064 44327895 45773056 0 0 2358837 3002469 613086 682177 0 0 0 39362263 40298225 42334186 43982871 1993709 1790185 152796039 160795905 94048435 98480664 58747604 62315241 IN THE COOPERATIVE TRADITION, ILLINOIS ELECTRIC IS DEDICATED TO IMPROVING THE QUALITY OF LIFE FOR OUR MEMBERS THROUGH DEPENDABILITY AND INNOVATION. 0 0 WE PROVIDED 195,642,000 KILOWATT HOURS OF ELECTRICITY TO APPROXIMATELY 10,200 RURAL ACCOUNTS IN ALL OR PART OF TEN COUNTIES IN THE STATE OF ILLINOIS AND WILL CONTINUE THIS IN THE FUTURE. WE PROVIDED INTERNET SERVICES TO APPROXIMATELY 6,450 CONSUMERS IN ALL OR PART OF TEN COUNTIES IN THE STATE OF ILLINOIS. IN 2015 WE BEGAN OFFERING INTERNET AND PHONE THROUGH OUR NEWLY CONSTRUCTED FIBER INFRASTRUCTURE IN THE TOWNS OF WINCHESTER AND BLUFFS, SERVING 700 CONSUMERS. WE HAVE EXPANDED THIS SERVICE IN TO CALHOUN COUNTY SERVING AN ADDITIONAL 1,200 CONSUMERS. WE EXPECT OUR PHONE AND INTERNET PROGRAM TO CONTINUE GROWING IN THE FUTURE. 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 25 0 65 1 0 0 0 0 0 44629913 2024523 0 0 0 X 11 11 0 0 0 0 1 1 1 1 0 0 0 1 1 1 1 1 1 1 1 0 X X SETH BUSHNELL 2172438700 2 SOUTH MAIN STREET WINCHESTER IL 62694 THOMAS D MEEHAN III PRESIDENT 11.90 0.00 X X 21800 0 0 JENNA MORROW VICE PRESIDENT 4.50 0.00 X X 7900 0 0 JIM FREEMAN TREASURER 2.70 0.00 X X 7750 0 0 KEVIN BRANNAN SECRETARY 8.80 0.00 X X 10850 0 0 JULIA EBERLIN DIRECTOR 2.80 0.00 X 4650 0 0 LUKE FRALEY DIRECTOR 1.30 0.00 X 4250 0 0 JULIE RHOADS DIRECTOR 4.70 0.00 X 6050 0 0 KRISTINE BINGHAM DIRECTOR 13.40 0.00 X 9600 0 0 BRYAN HUBBERT DIRECTOR 1.30 0.00 X 4850 0 0 PAT STENDBACK DIRECTOR 3.40 0.00 X 7200 0 0 KEVIN KLEIN DIRECTOR 10.80 0.00 X 13100 0 0 PATRICK SIMON DIRECTOR - PART YEAR 1.90 0.00 X 4000 0 0 RANDALL LONG GENERAL MANAGER 40.00 0.00 X 291780 0 26550 SETH BUSHNELL MANAGER OF FINANCE 40.00 0.00 X 209806 0 52041 MATTHEW HAVERFIELD NETWORK ANALYST 40.00 0.00 X 167134 0 31134 BRENDA BETTIS LOSS CONTROL SUPERVISOR 40.00 0.00 X 265936 0 3466 JOSEPH KILLDAY JOURNEYMAN SERVICEMAN 40.00 0.00 X 183349 0 10367 JOSEPH ALEXANDER JOURNEYMAN SERVICEMAN 40.00 0.00 X 168219 0 21780 KURTIS WEBER DESIGN ENGINEER 40.00 0.00 X 152979 0 24247 1541203 0 169585 32 0 1 0 SCOBEE POWERLINE CONSTRUCTION LLC 602 LANA DRIVE SUITE E CAMERON MO 64429 ELECTRIC LINE CONTRACTOR 955056 ERVIN CABLE CONSTRUCTION LLC 450 PRYOR BLVD STRUGIS KY 42459 CABLE CONTRACTOR 887142 SELLENRIEK ENERGY LLC 313 N GLADSTONE AVE JONESBURG MO 63351 ELECTRIC LINE CONTRACTOR 610512 WIEMELT PLUMBING & EXCAVATING INC 2709 PARKER DRIVE QUINCY IL 62305 FIBER LINE CONTRACTOR 477833 GOUND OUTDOOR MANAGEMENT INC 126 E PATTERSON ST ROODHOUSE IL 62082 CONTRACT FORESTRY CLEARING 470053 9 SALE OF POWER 221000 38028875 38028875 INTERNET REVENUES 517000 5559302 5559302 OTHER ELECTRIC REVENUE 221000 338096 338096 43926273 444593 444593 201900 24774 177126 177126 177126 CAPITAL CREDITS 221000 1182930 1182930 MISCELLANEOUS 221000 42134 42134 1225064 45773056 45151337 0 621719 3002469 682177 3584273 6214641 COST OF POWER 19222676 DIST EXP - MAINTENANCE 3414804 INTERNET COST OF SALES 3045854 ADMIN & GENERAL EXP 2068253 2747724 43982871 594141 653475 2507077 175475 2066467 2324184 741903 244733 3104156 2987459 283876 464492 164876722 35186981 123349072 129689741 2518292 5182844 331233 508892 14055294 15183766 9169 9169 3235359 3371675 152796039 160795905 3165793 3668309 83366312 86697142 4006899 4045470 3509431 4069743 94048435 98480664 X 0 0 0 0 58747604 62315241 58747604 62315241 152796039 160795905 X 1790185 -46266 1823718 X 0 1 X 1 0 625595 625595 2669276 1621925 1047351 23018581 16009726 7008855 138563270 17555330 121007940 129689741 PAT CAP IN ASSOC. ORGS. 14226783 C NRUCFC CAPITAL TERM CERTS 782274 C OTHER INVESTMENTS 27700 C DEFERRED COMP. FUND 147009 C 15183766 CONSUMER DEPOSITS 419964 ACCUMULATED PROVISION FOR PENSION & BENEFITS 3441564 DEFERRED CREDITS 208215 4069743 X PART X, LINE 2: THE COOPERATIVE HAS BEEN GRANTED TAX EXEMPT STATUS UNDER SECTION 501(C)(12) OF THE INTERNAL REVENUE CODE (IRC). IRTC UTILIZES AN ASSET AND LIABILITY APPROACH TO FINANCIAL ACCOUNTING AND REPORTING FOR INCOME TAXES. DEFERRED INCOME TAXES ARE COMPUTED ANNUALLY FOR DIFFERENCES BETWEEN THE FINANCIAL STATEMENT AND TAX BASIS OF ASSETS AND LIABILITIES THAT WILL RESULT IN TAXABLE OR DEDUCTIBLE AMOUNTS IN THE FUTURE BASED ON ENACTED TAX LAWS AND RATES APPLICABLE TO THE PERIODS IN WHICH THE DIFFERENCES ARE EXPECTED TO AFFECT TAXABLE INCOME. SUCH DIFFERENCES RELATE PRIMARILY TO THE USE OF ACCELERATED DEPRECIATION METHODS FOR INCOME TAX PURPOSES AS COMPARED TO THE STRAIGHT-LINE METHOD FOR FINANCIAL REPORTING AND AMORTIZATION OF GOODWILL FOR INCOME TAX PURPOSES. VALUATION ALLOWANCES ARE ESTABLISHED WHEN NECESSARY TO REDUCE DEFERRED TAX ASSETS TO THE AMOUNT EXPECTED TO BE REALIZED. THE PROVISION FOR INCOME TAXES IS THE TAX PAYABLE OR REFUNDABLE FOR THE PERIOD PLUS OR MINUS THE CHANGE DURING THE PERIOD IN DEFERRED TAX ASSETS AND LIABILITIES. IRTC FILES A CONSOLIDATED TAX RETURN, WHICH INCLUDES ITS SUBSIDIARIES. THE CONSOLIDATED INCOME TAX PROVISION (BENEFIT) IS RECORDED BY IRTC AND IS NOT ALLOCATED TO ITS SUBSIDIARIES. THE COOPERATIVE EVALUATED ITS TAX POSITIONS AND DETERMINED THAT IT HAS NO UNCERTAIN TAX POSITIONS AS OF DECEMBER 31, 2024 AND 2023. X X X 0 1 0 RANDALL LONG GENERAL MANAGER 272020 0 0 0 19760 0 26550 0 0 0 318330 0 0 0 BRENDA BETTIS LOSS CONTROL SUPERVISOR 43000 0 0 0 222936 0 3466 0 0 0 269402 0 0 0 SETH BUSHNELL MANAGER OF FINANCE 183431 0 0 0 26375 0 52041 0 0 0 261847 0 0 0 MATTHEW HAVERFIELD NETWORK ANALYST 156532 0 0 0 10602 0 31134 0 0 0 198268 0 0 0 JOSEPH KILLDAY JOURNEYMAN SERVICEMAN 164221 0 0 0 19128 0 10367 0 0 0 193716 0 0 0 JOSEPH ALEXANDER JOURNEYMAN SERVICEMAN 142004 0 0 0 26215 0 21780 0 0 0 189999 0 0 0 KURTIS WEBER DESIGN ENGINEER 140650 0 0 0 12329 0 24247 0 0 0 177226 0 0 0 PART I, LINE 4B RANDY LONG CONTRIBUTED $20,800 TO HIS 457 PLAN DURING 2024. FORM 990, PART VI, SECTION A, LINE 6 THE COOPERATIVE HAS TWO CLASSES OF MEMBERS. CLASS A MEMBERS, ELECTRIC MEMBERS, HAVE VOTING RIGHTS, CLASS B MEMBERS INTERNET MEMBERS, DO NOT HAVE VOTING RIGHTS. FORM 990, PART VI, SECTION A, LINE 7A EACH CUSTOMER WHO RECEIVES ELECTRIC SERVICE IS A CLASS A MEMBER. THESE MEMBERS ELECT THE MEMBERS OF THE BOARD OF DIRECTORS AND APPROVE SIGNIFICANT DECISIONS OF THE COOPERATIVE. FORM 990, PART VI, SECTION A, LINE 7B THE COOPERATIVE HAS ONE CLASS OF MEMBERSHIP THAT MUST VOTE ON CHANGES TO THE BYLAWS, ARTICLES OF INCORPORATION, AND SALE OF SUBSTANTIALLY ALL OF THE COOPERATIVE'S ASSETS. 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 BEFORE THE 990 IS FILED, A FINAL DRAFT WILL BE REVIEWED BY THE BOARD AND DISCUSSED. QUESTIONS ANSWERED AND CORRECTIONS MADE IF NEEDED. FORM 990, PART VI, SECTION B, LINE 12C COUNSEL REVIEWS POLICY ANNUALLY WITH THE BOARD AND SENIOR MANAGEMENT. THE GENERAL MANAGER REVIEWS IT ANNUALLY WITH THE EMPLOYEES. DETERMINATIONS FOR THE BOARD ARE AT THE BOARD LEVEL, THE GENERAL MANAGER AT THE BOARD LEVEL AND ALL OTHER EMPLOYEES AT THE GENERAL MANAGER LEVEL. RESTRICTIONS ON THE BOARD IN THE INSTANCE OF A CONFLICT OF INTEREST DOES NOT ALLOW THEM TO VOTE ON THE MATTER AND EMPLOYEES ARE PROHIBITED FROM HAVING CONFLICTS OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF DIRECTORS DETERMINES THE GENERAL MANAGER'S COMPENSATION. IN MAKING THAT DETERMINATION, THEY USE BENCHMARK DATA FROM THE NATIONAL RURAL ELECTRIC COOPERATIVE ASSOCIATION AND THE ASSOCIATION OF ILLINOIS ELECTRIC COOPERATIVES. THE PROCESS IS DOCUMENTED IN THE MINUTES OF THE BOARD'S MEETINGS. THIS PROCESS TAKES PLACE ANNUALLY ALONGSIDE A FORMAL REVIEW. THE MANAGEMENT OF THE COOPERATIVE DETERMINES THE COMPENSATION OF KEY EMPLOYEES. MANAGEMENT USES BENCHMARK DATA FROM THE NATIONAL RURAL ELECTRIC COOPERATIVE ASSOCIATION AND THE ASSOCIATION OF ILLINOIS ELECTRIC COOPERATIVES. THIS PROCESS TAKES PLACE ANNUALLY. THE PROCESS DESCRIBED HERE WAS LAST COMPLETED IN 2024. FORM 990, PART VI, SECTION C, LINE 19 THE COOPERATIVE'S GOVERNING DOCUMENTS, CONFLICTS OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE MADE AVAILABLE UPON REQUEST AND ON OUR WEBSITE WWW.E-CO-OP.COM FORM 990, PART XI, LINE 9: EQUITY IN EARNINGS IN SUBSIDIARY 177,659. PATRONAGE RETIRED -1,054,581. CHANGE IN OTHER COMPREHENSIVE INCOME -301,828. PATRONAGE DIVIDENDS ALLOCATED 3,002,468. 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 13 OF THE FORM 990. ILLINOIS RURAL TELECOMMUNICATION CO 2 SOUTH MAIN STREET WINCHESTER IL 62694 371306087 TELECOMMUNICATIONS IL ILLINOIS ELECTRIC COOP C 319832 2690143 1.00000 1 PRATHER OIL CO 2 SOUTH MAIN STREET WINCHESTER IL 62694 371112402 SALE OF PROPANE IL ILLINOIS RURAL TELECOMMUNICATION CO C 1.00000 0 ILLINOIS PROPANE CO 2 SOUTH MAIN STREET WINCHESTER IL 62694 202239550 SALE OF PROPANE IL ILLINOIS RURAL TELECOMMUNICATION CO C 1.00000 0 MIDSTATE PROPANE LLC 2 SOUTH MAIN STREET WINCHESTER IL 62694 371413502 SALE OF PROPANE IL ILLINOIS RURAL TELECOMMUNICATION CO C 1.00000 0 0 0 0 0 1 0 0 0 0 0 1 0 0 0 0 0 0 0 0 ILLINOIS RURAL TELECOMMUNICATION COMPANY K 300000 ACTUAL