2015-11-11T13:48:48-06:00 2014-12-31 450250958 EIDE BAILLY LLP 200 EAST 10TH ST PO BOX 5125 SIOUX FALLS SD 571175125 990 2014-01-01 420320323 Hawkeye Tri-County Electric Cooperative DBA Hawkeye REC HAWK 5635473801 PO Box 90 Cresco IA 52136 Brian Krambeer CEO 5635473801 2015-11-09 1 Laurie Hanson P00851848 6053391999 2015-11-09 2014 2016-04-25 22:37:26Z Hawkeye REC Brian Krambeer PO Box 90 Cresco IA 52136 25028645 0 X www.hawkeyerec.com X 1938 IA To provide access to safe, dependable and affordable electric services. 7 7 38 0 13871 5377 0 0 24018404 24825432 30622 23915 2033 935 24051059 24850282 0 0 582420 582421 2729874 2787690 0 0 0 20156345 20539050 23468639 23909161 582420 941121 60194418 62678006 40439763 41848007 19754655 20829999 X As a locally owned Cooperative organization we strive to provide a reliable electric distribution system, maintain financial stability, communicate, maximize marketing opportunities, provide other related services, and use sound business practices thus earning the trust, loyalty and respect of our patrons. 0 0 Distribution of electricity to approximately 5,451 members located primarily in rural areas. 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 1 0 0 0 0 0 1 1 1 0 1 13 0 1 38 1 1 1 0 0 0 0 0 0 24366164 334755 0 X 7 7 0 0 0 0 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 1 0 X Brian Krambeer 5635473801 PO Box 90 Cresco IA 52136 X Dean Fisher President 5.00 X X 9345 0 0 Dean Nierling Vice President 4.60 X X 6650 0 0 Dennis Ptacek Secretary/Treasurer 3.00 X X 5640 0 0 Dennis Young Director 5.00 X 7425 0 0 Charles Frana Director 6.50 X 7400 0 0 Darla Rance Director 4.80 X 7550 0 0 Carl Reicks Director 2.00 X 4750 0 0 Brian Krambeer Chief Executive Officer 30.00 X 107169 0 76392 155929 0 76392 1 0 1 0 Highline Construction 16124 Old Lake Rd Paynesville MN 56362 Overhead Line Building 6594117 Moll's Utility Services LLC 622 170TH St Hammond WI 54015 Overhead Line Building 1444888 Norby Tree Service 39520 120th St Mabel MN 55954 Tree clearing/spraying 531363 Acculine Consulting 7333 Cattle Dr Nashport OH 43830 Linestaking, mapping, GPS 456156 Tri-County Electric COOP 31110 Cooperative Way Rushford MN 55971 Shared CEO & Member Services Mgr 291039 10 Sale of Power 221000 23898674 23898674 Capital Credits 221000 805309 805309 Investment in HTC Corp 531390 118606 118606 Equity Earnings 900099 2843 12936 -10093 24825432 23915 23915 179298 178363 935 935 24850282 24822589 13871 13822 582421 191993 2061031 376997 157669 1398701 1472370 UBI Taxes 565 Cost of Power 15425188 Distribution-Maintenanc 1403111 Admin & General 1249110 -409995 23909161 2821818 3880106 4498586 3794093 2222481 1773655 1227043 1182432 2065452 1997820 54108183 12213085 39970990 41895098 505920 399419 6879056 7751777 3072 3606 60194418 62678006 3781087 3167561 651912 651912 13238 8896 32148780 34503851 1493498 1100000 2351248 2415787 40439763 41848007 X 0 0 0 0 19754655 20829999 19754655 20829999 60194418 62678006 X 941121 134223 X 0 1 X 1 1 1 0 1 X 148985 148985 5609568 380249 5229319 47580354 11832836 35747518 769276 769276 41895098 NRUCFC Subordinate Certificates 377371 C Dairyland Power Cooperative 7214149 C Pat Cap. NRUCFC 136638 C Other Investments 23619 C 7751777 -3859 Customer Deposits 69212 Deferred Credits 2350434 2415787 X Part IV, Line 2b: Hawkeye Tri-County's RECare program provides members with the ability to donate money through the Cooperative to help needy members pay their electric bills. The account is listed on the balance sheet as a liability. Part X, Line 2: The Cooperative is exempt from income taxes under Section 501(c)(12) of the Internal Revenue Code. The Cooperative does pay income tax on its unrelated business income on Federal Form 990T. The Cooperative's subsidiary is a taxable corporation. The Cooperative has evaluated whether it was necessary to recognize any benefit from uncertain tax positions in current open tax periods and determined that there are no material uncertainties within its filed tax returns. As of December 31, 2014 and 2013, the unrecognized tax benefit was zero. The Cooperative would recognize future accrued interest and penalties related to unrecognized tax benefits in income tax expense, if incurred. Generally, the Cooperative is no longer subject to Federal or state tax examinations by tax authorities for years before 2011. X X X 0 0 0 Brian Krambeer Chief Executive Officer 104742 0 0 0 2427 0 62905 0 13987 0 184061 0 0 0 Schedule J, Part II Brian Krambeer's compensation and hours worked per week are split evenly between Hawkeye Tri-County Electric Cooperative and an unrelated organization, Tri-County Electric Cooperative. Brian is a common law employee of each organization. The compensation reported on Form 990 Part VII and on Schedule J represents Hawkeye Tri-County Electric Cooperative's share of Brian's salary and benefits. Per the instructions, included in column (c) is the change in actuarial value of the defined benefit plan. This differs from the actual contribution made to the defined benefit plan for Brian. Federated Rural Electric Exchange I Brian Krambeer is the CEO of the Cooperative and on the Board of FREEIC 143233 Federated Rural Electric Exchange Insurance Company (FREEIC) provides insurance for the Cooperative 0 Form 990, Part VI, Section A, line 6 Each Member holds a membership of the same class. Form 990, Part VI, Section A, line 7a All Members are entitled to one vote. Form 990, Part VI, Section A, line 7b Any changes to the articles of incorporation will require a vote from the membership. Form 990, Part VI, Section A, line 8b There are no committees with authority to act on behalf of the Board. Form 990, Part VI, Section B, line 11 The Form 990 will be reviewed by the accountant and general manager, and provided to the Board of Directors prior to being filed with the IRS. Form 990, Part VI, Section B, line 12c The conflict of interest policy covers directors and officers. Annual conflict of interest disclosure statements are completed. Once completed, the statements are reviewed by the Board of Directors. If there is a conflict, the affected officer or director will abstain from voting. Form 990, Part VI, Section B, line 15a Compensation for the CEO is approved by the board of directions of Hawkeye Tri-County Electric Cooperative in conjuction with Tri-County Electric. A compensation survey is utilized in determining compensation, and a written employment contract is in place. Compensation was last reviewed in 2014. Form 990, Part VI, Section C, line 19 The governing documents, conflict of interest policy and financial statements are available upon request. Form 990, Part VII, Column F, Other Compensation: Included in other compensation is the estimated current year increase or decrease in the actuarial value of the defined benefit plan for the CEO and CFO. The current year increase or decrease does not represent current year contributions to the plan. Rather, it is an estimate of the increase or decrease in the actuarial value of the plan as calculated by the plan administrator. Form 990, Part XI, line 9: Retirement of capital credits -448,197. Allocation of 2014 margins in 2015 582,420. Form 990, Part IX, Line 24d Statement of Functional Expenses: The labor, pension and payroll taxes reported on lines 6-10 are included in distribution expense, administrative & general expense and customer expense. Therefore, labor, pension and payroll taxes are shown as a reduction to other expenses on line 24d. Hawkeye Community Solar I LLC PO Box 90 Cresco IA 52136 383926776 Community Solar Project IA N/A HTC Development Corporation PO Box 90 Cresco IA 52136 680403643 Housing Development IA Hawkeye Tri-County Electric Cooperative C -486473 1191598 1.00000 1 HREC Community Solar Holdings LLC PO Box 90 Cresco IA 52136 465101728 Community Solar Project IA Hawkeye Tri-County Electric Cooperative C -14688 36035 1.00000 0 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 HREC Community Solar Holdings LLC B 50875 cash