2015-05-07T14:58:18-05:00 2014-12-31 410746749 CLIFTONLARSONALLEN LLP 600 3RD AVE SE STE 300 CEDAR RAPIDS IA 52401 990 2014-01-01 421445092 EAST-CENTRAL IOWA RURAL ELECTRIC COOPERATIVE EAST 3194434355 PO BOX 248 URBANA IA 52345 STEVEN MARLOW MANAGER 3194434355 2015-05-05 1 WILLIAM E MURRAY CPA P00163335 3193632697 2014 2016-02-25 16:41:14Z STEVEN MARLOW PO BOX 248 URBANA IA 52345 23913133 0 X WWW.ECIREC.COM X 1995 IA EAST-CENTRAL IOWA RURAL ELECTRIC COOPERATIVE PROVIDES ELECTRIC ENERGY SERVICE TO APPROXIMATELY 6,943 MEMBERS TO PARTS OF 10 COUNTIES IN EAST-CENTRAL IOWA. ITS PRIMARY MISSION IS TO PROVIDE THE BEST POSSIBLE SERVICE TO ITS MEMBERS FOR THE LOWEST POSSIBLE COST. 10 10 37 0 0 0 0 0 22541807 22160901 46553 66212 797034 1247341 23385394 23474454 0 0 828670 566606 668577 731440 0 0 0 20700519 20441217 22197766 21739263 1187628 1735191 57512143 59273327 31378011 31402883 26134132 27870444 THE COOPERATIVE'S PRIMARY MISSION IS TO PROVIDE THE BEST POSSIBLE ELECTRICAL SERVICE TO ITS MEMBERS AT THE LOWEST POSSIBLE COST. 0 0 PROVISION OF ELECTRICITY AND ELECTRIC SERVICES TO THE COOPERATIVE'S 6,943 MEMBERS. THIS REPRESENTS 99% OF THE TOTAL REVENUE FOR THE COOPERATIVE FOR 2014. 0 0 0 0 0 0 0 0 0 1 1 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 1 1 1 0 1 24 0 37 1 0 0 0 0 0 22663521 1331379 0 X 10 10 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 1 0 X STEVEN MARLOW 3194434355 2400 BING MILLER LN URBANA IA 52345 ALLEN ALBERS DIRECTOR 2.20 X 3730 0 0 LLOYD BATHEN DIRECTOR 4.70 X 6920 0 0 JEFF ELLIOTT DIRECTOR 5.10 X 7175 0 0 WILLIAM FRAZIER DIRECTOR 2.80 X 5320 0 0 CHRIS SACKETT DIRECTOR 2.90 X 5055 0 0 DONALD SHONKA DIRECTOR 4.10 X 6655 0 0 STEVE RAU PRESIDENT 4.30 X X 6655 0 0 JIM ALBERTS SECRETARY/TREASURER 4.90 X X 7185 0 0 BURT BYERS VICE PRESIDENT 3.60 X X 5320 0 0 RYAN KRESS ASSISTANT SECRETARY/TREASU 3.50 X X 5585 0 0 STEVEN MARLOW MANAGER 41.00 X 144936 0 26720 GARY MARLOW OPERATIONS MANAGER 41.00 X 106683 0 19644 311219 0 46364 2 0 1 0 HIGHLINE CONSTRUCTION INC 16124 OLD LAKE RD PAYNESVILLE MN 56362 DIST LINE REBUILD 5202403 MJ ELECTRIC N2023 GREENVILLE DR GREENVILLE WI 54942 SUBSTATION CONSTRUCTION 182050 WEST UNION TRENCHING 10715 HARDING RD WEST UNION IA 52175 BORING/TRENCHING 180240 MAURER TREE SERVICE 1203 BAXTER AVE FAIRBANK IA 50629 TREE TRIMMING 107183 4 ELECTRICITY SALES 221000 22160901 22160901 22160901 71112 71112 192160 197060 -4900 -4900 -4900 229814 241619 -11805 -11805 CAPITAL CREDITS 900099 1259146 1259146 1259146 23474454 23408242 0 66212 566606 230184 449860 51396 551480 1161261 1676596 COST OF POWER 13707545 DISTRIBUTION OPERATIONS 1764339 CONSUMER ACCOUNTS 860538 DISTRIBUTION MAINTENANC 596628 122830 21739263 1073949 4026614 28383 33404 5366512 2390980 1482574 1404664 153616 144624 60460837 15279021 43842627 45181816 5478308 6037197 86174 54028 57512143 59273327 2874181 2438036 27662358 28334227 841472 630620 31378011 31402883 X 0 0 0 0 26134132 27870444 26134132 27870444 57512143 59273327 X 1735191 1121 X X 0 1 X 1 0 55488431 15279021 40209410 4972406 4972406 45181816 HELD TO MATURITY SECURITIES 848697 C OTHER INVESTMENTS 97769 C ASSOCIATED ORGANIZATIONS 5090731 C 6037197 DEFERRED CREDITS 507722 CUSTOMER DEPOSITS 122898 630620 X 23475575 1121 1121 23474454 0 23474454 21172657 0 21172657 566606 566606 21739263 PART X, LINE 2: THE COOPERATIVE EVALUATED ITS TAX POSITIONS AND DETERMINED THAT IT HAD NO UNCERTAIN TAX POSITIONS AS OF DECEMBER 31, 2014 AND 2013. PART XI, LINE 2D - OTHER ADJUSTMENTS: INCOME FROM EQUITY INVESTMENTS 1,121. PART XII, LINE 4B - OTHER ADJUSTMENTS: PATRONAGE DIVIDENDS PAID 566,606. X X X 0 0 0 STEVEN MARLOW MANAGER 144936 0 0 0 0 0 25484 0 1236 0 171656 0 0 0 GARY MARLOW FAMILY MEMBER OF ORGANIZATION'S TOP MANAGEMENT OFFICIAL, STEVEN MARLOW 125115 EMPLOYEE COMPENSATION 0 FORM 990, PART VI, SECTION A, LINE 6 ARTICLE V. MEMBERS SECTION 1. ANY INDIVIDUAL FOR HIMSELF, OR HERSELF, AND ANY PERSON AS THE ACCREDITED AGENT AND REPRESENTATIVE ACTING ON BEHALF OF ANY FIRM, ASSOCIATION, CORPORATION, PARTNERSHIP, OR OTHER ORGANIZATION, MAY BECOME A MEMBER IN THIS COOPERATIVE BY (A) APPLYING FOR A MEMBERSHIP CERTIFICATE IN THE COOPERATIVE, (B) AGREEING TO TAKE, RECEIVE, AND PAY FOR ELECTRIC UTILITY SERVICE FURNISHED BY THE COOPERATIVE AS HEREINAFTER IN SECTION 3 OF THIS ARTICLE SPECIFIED, AND (C) AGREEING TO COMPLY WITH AND TO BE BOUND BY THESE ARTICLES OF INCORPORATION, THE BYLAWS OF THE COOPERATIVE, AND SUCH RULES AND REGULATIONS AS MAY FROM TIME TO TIME BE ADOPTED BY THE BOARD OF DIRECTORS OF THE COOPERATIVE; PROVIDED, HOWEVER, THAT NO INDIVIDUAL, EXCEPT AN INDIVIDUAL ACCEPTED FOR MEMBERSHIP BY THE MEMBERS AT ANY MEETINGS HEREOF OR BECOMING A MEMBER BY VIRTUE OF THE CONSOLIDATION WHICH CREATED EAST-CENTRAL IOWA RURAL ELECTRIC COOPERATIVE, SHALL BECOME A MEMBER OF THE COOPERATIVE UNLESS AND UNTIL ACCEPTED FOR MEMBERSHIP BY THE AFFIRMATIVE VOTE OF NOT LESS THAN A MAJORITY OF THE BOARD OF DIRECTORS. APPLICATIONS FOR MEMBERSHIP MAY BE REJECTED FOR JUST CAUSE. SECTION 2. THE COOPERATIVE SHALL HAVE NO CAPITAL STOCK, BUT MEMBERSHIP IN THE COOPERATIVE SHALL BE EVIDENCED BY A MEMBERSHIP CERTIFICATE. MEMBERSHIP IN THE COOPERATIVE SHALL NOT BE TRANSFERABLE. SECTION 3. EACH MEMBER OF THE COOPERATIVE SHALL, AS SOON AS ELECTRIC ENERGY SHALL BE AVAILABLE, PURCHASE FROM THE COOPERATIVE MONTHLY NOT LESS THAN THE MINIMUM AMOUNT OF ELECTRIC ENERGY WHICH SHALL, FROM TIME TO TIME, BE DETERMINED BY RESOLUTION OF THE BOARD OF DIRECTORS OF THE COOPERATIVE AND SHALL PAY THEREFORE AND FOR ALL ADDITIONAL ELECTRIC ENERGY USED BY SUCH MEMBER, THE PRICE WHICH SHALL, FROM TIME TO TIME, BE FIXED THEREFORE BY RESOLUTION OF THE BOARD OF DIRECTORS. EACH MEMBER SHALL ALSO PAY ALL OBLIGATIONS WHICH MAY, FROM TIME TO TIME, BECOME DUE AND PAYABLE BY SUCH MEMBER TO THE COOPERATIVE AS AND WHEN THE SAME SHALL BECOME DUE AND PAYABLE. EACH MEMBER SHALL COMPLY WITH SUCH RULES AND REGULATIONS AS MAY, FROM TIME TO TIME, BE ADOPTED BY THE BOARD OF DIRECTORS. SECTION 4. THE PRIVATE PROPERTY OF THE MEMBERS OF THE COOPERATIVE SHALL BE EXEMPT FROM EXECUTION FOR THE DEBTS OF THE COOPERATIVE AND NO MEMBER SHALL BE INDIVIDUALLY RESPONSIBLE FOR ANY DEBTS OR LIABILITIES OF THE COOPERATIVE. SECTION 5. NO MEMBER OF THE COOPERATIVE MAY OWN MORE THAN ONE MEMBERSHIP AND EACH MEMBER HOLDING A MEMBERSHIP CERTIFICATE SHALL BE ENTITLED TO ONE VOTE AND NO MORE AT ALL MEETINGS OF THE MEMBERS OF THE COOPERATIVE. IF A HUSBAND AND WIFE HOLD A JOINT MEMBERSHIP TOGETHER, THEY SHALL BE JOINTLY ENTITLED TO ONE VOTE AND NO MORE UPON EACH MATTER SUBMITTED TO A VOTE AT A MEETING OF THE MEMBERS. THE VOTE OF EACH MEMBER OF THE COOPERATIVE SHALL BE CAST IN PERSON AND NOT BY PROXY, PROVIDED, THAT AN ABSENT MEMBER MAY CAST HIS WRITTEN VOTE UPON ANY PROPOSITION OF WHICH HE HAS BEEN PREVIOUSLY NOTIFIED IN WRITING, AND OF WHICH A COPY ACCOMPANIES HIS VOTE. FORM 990, PART VI, SECTION A, LINE 7A SEE EXPLANATION FOR PART VI LINE 6 FORM 990, PART VI, SECTION A, LINE 7B SEE EXPLANATION FOR PART VI LINE 6 FORM 990, PART VI, SECTION B, LINE 11 PRIOR TO THE 990 BEING FILED THE ORGANIZATION'S INDEPENDENT ACCOUNTANT WILL PRESENT THE COMPLETED 990 TO THE GOVERNING BODY. THIS EVENT IS INCLUDED AS AN AGENDA ITEM AND WILL BE NOTED IN THE MINUTES. FORM 990, PART VI, SECTION B, LINE 12C ANNUALLY THE BOARD AND EMPLOYEES WILL COMPLETE A FORM IDENTIFYING ANY POTENTIAL CONFLICTS AND THE POLICY REQUIRES ANY SUCH PERSON TO NOTIFY THE ORGANIZATION OF A POTENTIAL CONFLICT IMMEDIATELY. FORM 990, PART VI, SECTION B, LINE 15 EACH YEAR THE SALARY RANGES IN THE WAGE AND SALARY PLAN WILL BE ADJUSTED TO REFLECT THE WAGES AND SALARIES OF OTHER ELECTRIC COOPERATIVES IN THE IOWA-WISCONSIN-ILLINOIS REGION AS FOUND IN THE LATEST AVAILABLE NATIONAL COMPENSATION SURVEY OF RURAL ELECTRIC DISTRIBUTION SYSTEMS CONDUCTED BY THE NATIONAL RURAL ELECTRIC COOPERATIVE ASSOCIATION. FORM 990, PART VI, SECTION B, LINE 15B: FOR EACH POSITION, THE WEIGHTED AVERAGE LOWEST, MEDIAN, AND THIRD QUARTILE WAGE OR SALARY WILL BE CALCULATED FROM THOSE OF OTHER ELECTRIC COOPERATIVES OF THE SAME SIZE AS EAST-CENTRAL IOWA REC AS DEFINED BY TOTAL UTILITY PLANT, REVENUE, AND NUMBER OF CONSUMERS. FOR POSITIONS IN THE COOPERATIVE THAT HAVE NO COMPARABLE POSITION IN THE NRECA NATIONAL COMPENSATION SURVEY, OTHER COMPARATIVE WAGES AND SALARIES FROM THE LOCAL LABOR AREA WILL BE USED. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENT ARE NOT MADE AVAILABLE TO THE PUBLIC. FORM 990, PART XI, LINE 9: GAIN FROM SUBSIDIARY 1,121. FORM 990, PART XII, LINE 2C: NO CHANGE FROM PRIOR YEAR. BECCA GROUP INC 2400 BING MILLER LANE URBANA IA 52345 421350925 ECONOMIC DEVELOPMENT IA EAST-CENTRAL IOWA RURAL ELECTRIC COOPERATIVE C -404 184017 1.00000 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 BECCA GROUP INC S -404 COST