HEARTLAND POWER COOPERATIVE: Form 990, tax year 2024
View the entire original 990 at ProPublica ↗
- Organization
- HEARTLAND POWER COOPERATIVE (EIN 42-1468305)
- Tax period
- 2024-01-01 to 2024-12-31
- Filed
- 2025-10-28
- IRS object ID
- 202523019349302802
- Schema version
- 2024v5.2
- 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 | 2025-10-28T16:17:09-05:00 | ReturnTs |
| Tax Period End | 2024-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 450250958 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | EIDE BAILLY LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 345 N REID PL STE 400 | AddressLine1Txt |
| City | SIOUX FALLS | CityNm |
| State Abbreviation | SD | StateAbbreviationCd |
| ZIP | 571037034 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2024-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 421468305 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | HEARTLAND POWER COOPERATIVE | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | HEAR | BusinessNameControlTxt |
| Phone | 6415842251 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 216 JACKSON ST | AddressLine1Txt |
| City | THOMPSON | CityNm |
| State Abbreviation | IA | StateAbbreviationCd |
| ZIP | 504780065 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | JON LEERAR | PersonNm |
| Person Title | CEO/GENERAL MANAGER | PersonTitleTxt |
| Phone | 6415842251 | PhoneNum |
| Signature | 2025-10-28 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | Yes (1) | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | LAURIE HANSON CPA | PreparerPersonNm |
| PTIN | P00851848 | PTIN |
| Phone | 6053391999 | PhoneNum |
| Preparation | 2025-10-28 | PreparationDt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2024 | TaxYr |
| Build TS | 2025-03-06 01:10:19Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | JON LEERAR | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 216 JACKSON ST | AddressLine1Txt |
| City | THOMPSON | CityNm |
| State Abbreviation | IA | StateAbbreviationCd |
| ZIP | 504780065 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $33,810,325 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | WWW.HEARTLANDPOWER.COM | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1997 | FormationYr |
| Legal Domicile State | IA | LegalDomicileStateCd |
| Activity Or Mission | TO PROVIDE ELECTRICITY TO RURAL COMMUNITIES. | ActivityOrMissionDesc |
| Voting Members Governing Body | 7 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 7 | VotingMembersIndependentCnt |
| Total Employee | 27 | TotalEmployeeCnt |
| Total Volunteers | 0 | TotalVolunteersCnt |
| Total Gross UBI | $18,142 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $31,107,162 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $33,359,886 | CYProgramServiceRevenueAmt |
| PY Investment Income | $51,185 | PYInvestmentIncomeAmt |
| CY Investment Income | $52,634 | CYInvestmentIncomeAmt |
| PY Other Revenue | $136,708 | PYOtherRevenueAmt |
| CY Other Revenue | $248,645 | CYOtherRevenueAmt |
| PY Total Revenue | $31,295,055 | PYTotalRevenueAmt |
| CY Total Revenue | $33,661,165 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $0 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $0 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $1,798,381 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $1,802,715 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $2,732,170 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $2,714,547 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $25,311,193 | PYOtherExpensesAmt |
| CY Other Expenses | $28,759,414 | CYOtherExpensesAmt |
| PY Total Expenses | $29,841,744 | PYTotalExpensesAmt |
| CY Total Expenses | $33,276,676 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $1,453,311 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $384,489 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $63,233,645 | TotalAssetsBOYAmt |
| Total Assets EOY | $69,704,634 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $26,486,127 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $31,471,390 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $36,747,518 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $38,233,244 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | OUR VISION IS TO BE THE PROVIDER OF CHOICE FOR ENERGY AND SERVICES BY ALL CONSUMERS. OUR PRIMARY PURPOSE IS TO PROVIDE ELECTRICAL ENERGY AND OTHER SERVICES THAT ENHANCE THE QUALITY OF LIFE OF OUR MEMBERS AND THE ECONOMIC AND SOCIAL WELL-BEING OF THE REGION AT THE LOWEST POSSIBLE COST CONSISTENT WITH SOUND ECONOMIC AND MANAGEMENT DECISIONS. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Desc | HEARTLAND POWER COOPERATIVE INVESTED IN NEW SERVICE LINES, LINE AND SERVICE IMPROVEMENTS, AND ORDINARY REPLACEMENT OF EXISTING LINE TO KEEP UP THE CONDITION OF OUR DISTRIBUTION SYSTEM. A SUMMARY OF THESE IMPROVEMENTS IS LISTED BELOW:8 MILES OF OVERHEAD LINE WAS REBUILT37.8 MILES OF UNDERGROUND LINE WAS INSTALLED25 NEW SERVICES CONNECTED421 NEW POLES WERE PLACED FOR NEW LINE, NEW SERVICES, AND FOR ORDINARY REPLACEMENT OF DAMAGED OR DECAYED POLES OR FOR BETTER LINE CLEARANCE4,470 POLES WERE INSPECTED FOR DECAY OR DAMAGE, 54 POLES TAGGED FOR REPLACEMENT767 ARRESTORS WERE ADDED TO LINES TO DRAIN OFF LIGHTNING SURGES48 ELECTRONIC TRIP SAVERS WERE INSTALLED TO IMPROVE RELIABILITY AND REDUCE OUTAGES183 SECURITY LIGHTS WERE REPAIRED116 POLES WITH EQUIPMENT WERE REPAIRED | Desc |
| 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 | Yes (1) | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | 0 | DonorRstrOrQuasiEndowmentsInd |
| 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 | Yes (1) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | 0 | 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 With35 Ctrl Ent | 0 | BusinessRlnWith35CtrlEntInd |
| 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 | 0 | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 14 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 27 | 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 | $33,130,133 | MembersAndShrGrossIncomeAmt |
| Other Sources Gross Income | $512,206 | 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 | Yes (1) | InvestmentInJointVentureInd |
| Written Policy Or Procedure | 0 | WrittenPolicyOrProcedureInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | KARRIE PRINGNITZ | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 6415842251 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 216 JACKSON ST | AddressLine1Txt |
| City | THOMPSON | CityNm |
| State Abbreviation | IA | StateAbbreviationCd |
| ZIP | 50478 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part VII | Yes (X) | InfoInScheduleOPartVIIInd |
Form990 Part VII Section A Form990PartVIISectionAGrp (15 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 |
|---|---|---|---|---|---|---|---|
| DON KNUDTSON | |||||||
| PRESIDENT | 8.00 | Yes (X) | Yes (X) | $10,530 | $0 | $0 | |
| MARK KINGLAND | |||||||
| VICE PRESIDENT | 7.00 | Yes (X) | Yes (X) | $8,100 | $0 | $0 | |
| VINCE MORISCHE | |||||||
| SECRETARY | 6.50 | Yes (X) | Yes (X) | $9,775 | $0 | $0 | |
| GARY PEARSON | |||||||
| ASST. SECRETARY-TREASURER UTL. 03/24 | 5.00 | Yes (X) | Yes (X) | $825 | $0 | $0 | |
| MICHAEL COLE | |||||||
| ASST. SECRETARY TREASURER FROM 03/24 | 6.50 | Yes (X) | Yes (X) | $9,500 | $0 | $0 | |
| ROGER SOLOMONSON | |||||||
| DIRECTOR | 7.00 | Yes (X) | $11,400 | $0 | $0 | ||
| TRICIA JAEGER | |||||||
| TREASURER | 6.50 | Yes (X) | Yes (X) | $9,225 | $0 | $0 | |
| STEVEN GROTH | |||||||
| DIRECTOR FROM 03/24 | 5.00 | Yes (X) | $1,800 | $0 | $0 | ||
| JON LEERAR | |||||||
| CEO/GENERAL MANAGER | 50.00 | Yes (X) | $219,798 | $0 | $175,056 | ||
| KARRIE PRINGNITZ | |||||||
| DIRECTOR OF FINANCE | 50.00 | Yes (X) | $132,928 | $0 | $86,585 | ||
| DAVE LOW | |||||||
| DIRECTOR OF OPERATIONS | 45.00 | $124,485 | $0 | $89,556 | Yes (X) | ||
| JARRETT WOODS | |||||||
| FIRST CLASS LINEMAN | 40.00 | $109,475 | $0 | $19,234 | Yes (X) | ||
| PETE PAULSON | |||||||
| LINE FOREMAN | 40.00 | $108,482 | $0 | $149,270 | Yes (X) | ||
| GABE MAYER | |||||||
| LINE FOREMAN | 40.00 | $106,511 | $0 | $93,812 | Yes (X) | ||
| COLTON SKARPOHL-OST | |||||||
| LINEMAN | 40.00 | $106,264 | $0 | $24,781 | Yes (X) | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $969,098 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $638,294 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 8 | 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 |
|---|---|---|---|---|---|
| ZINNIEL UTILITY CONTRACTING | |||||
| 4 SOMSEN ST | NEW ULM | MN | 56073 | UNDERGROUND UTILITY CONTRACTOR | $962,948 |
| HIGHLINE CONSTRUCTION | |||||
| 16124 OLD LAKE RD | PAYNESVILLE | MN | 56362 | CONSTRUCTION CONTRACTOR | $680,279 |
| MCPEAK TRENCHING | |||||
| PO BOX 7 | LUVERNE | IA | 50660 | UNDERGROUND UTILITY CONTRACTOR | $367,779 |
| ASPLUNDH TREE EXPERT CO | |||||
| 708 BLAIR MILL ROAD | WILLOW GROVE | PA | 19090 | TREE TRIMMING | $291,210 |
| STAR ENERGY SERVICES | |||||
| 6841 POWER LANE SW | ALEXANDRIA | MN | 56308 | ENGINEERING AND OTHER SERVICES | $199,177 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 5 | CntrctRcvdGreaterThan100KCnt |
Program Service Revenue ProgramServiceRevenueGrp (2 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| SALE OF POWER | 221000 | $32,103,205 | $32,103,205 |
| CAPITAL CREDITS | 221000 | $1,256,681 | $1,256,681 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $33,359,886 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $55,634 | TotalRevenueColumnAmt |
| Exclusion | $55,634 | ExclusionAmt |
Gross Rents GrossRentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $143,150 | RealAmt |
Less Rental Expenses LessRentalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $0 | RealAmt |
Rental Income Or Loss RentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $143,150 | RealAmt |
Net Rental Income Or Loss NetRentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $143,150 | TotalRevenueColumnAmt |
| Exclusion | $143,150 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $7,000 | OtherAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $10,000 | OtherAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | -$3,000 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -$3,000 | TotalRevenueColumnAmt |
| Exclusion | -$3,000 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Sales Of Inventory | $140,734 | GrossSalesOfInventoryAmt |
| Cost Of Goods Sold | $139,160 | CostOfGoodsSoldAmt |
Net Income Or Loss NetIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $1,574 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $1,574 | RelatedOrExemptFuncIncomeAmt |
Other Revenue Misc OtherRevenueMiscGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | PARTNERSHIP INCOME | Desc |
| Business | 517000 | BusinessCd |
| Total Revenue Column | $103,921 | TotalRevenueColumnAmt |
| Unrelated Business Revenue | $18,142 | UnrelatedBusinessRevenueAmt |
| Exclusion | $85,779 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $103,921 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $33,661,165 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $33,361,460 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $18,142 | UnrelatedBusinessRevenueAmt |
| Exclusion | $281,563 | ExclusionAmt |
Benefits To Members BenefitsToMembersGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,802,715 | TotalAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $575,741 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,621,991 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $363,717 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $153,098 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $756,807 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,902,051 | TotalAmt |
Other Expenses OtherExpensesGrp (2 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| COST OF POWER | $24,863,877 |
| OTHER OPERATIONS | $1,236,679 |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $33,276,676 | TotalAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $46,768 | BOYAmt |
| EOY | $44,475 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,779,571 | BOYAmt |
| EOY | $3,070,292 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,686,867 | BOYAmt |
| EOY | $2,801,510 | EOYAmt |
Inventories For Sale Or Use InventoriesForSaleOrUseGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,494,033 | BOYAmt |
| EOY | $1,140,224 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $185,140 | BOYAmt |
| EOY | $1,329,314 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $64,996,094 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $20,564,187 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $38,806,330 | BOYAmt |
| EOY | $44,431,907 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $105,703 | BOYAmt |
| EOY | $192,482 | EOYAmt |
Investments Program Related InvestmentsProgramRelatedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $15,295,143 | BOYAmt |
| EOY | $16,342,130 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $834,090 | BOYAmt |
| EOY | $352,300 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $63,233,645 | BOYAmt |
| EOY | $69,704,634 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,913,931 | BOYAmt |
| EOY | $3,528,140 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $11,350,323 | BOYAmt |
| EOY | $16,288,032 | EOYAmt |
Unsecured Notes Loans Payable UnsecuredNotesLoansPayableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,822,404 | BOYAmt |
| EOY | $4,522,468 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $8,399,469 | BOYAmt |
| EOY | $7,132,750 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $26,486,127 | BOYAmt |
| EOY | $31,471,390 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Org Does Not Follow FASB117 | Yes (X) | OrgDoesNotFollowFASB117Ind |
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 | $36,747,518 | BOYAmt |
| EOY | $38,233,244 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $36,747,518 | BOYAmt |
| EOY | $38,233,244 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $63,233,645 | BOYAmt |
| EOY | $69,704,634 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $384,489 | ReconcilationRevenueExpnssAmt |
| Other Changes In Net Assets | $1,101,237 | OtherChangesInNetAssetsAmt |
| 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) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Agent Trustee Etc | Yes (1) | AgentTrusteeEtcInd |
| Beginning Balance | $15,653 | BeginningBalanceAmt |
| Additions During Year | $21,437 | AdditionsDuringYearAmt |
| Distributions During Year | $17,200 | DistributionsDuringYearAmt |
| Ending Balance | $19,890 | EndingBalanceAmt |
| Incl Escrow Custodial Acct Liab | 0 | InclEscrowCustodialAcctLiabInd |
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $136,340 | OtherCostOrOtherBasisAmt |
| Book Value | $136,340 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $1,771,096 | OtherCostOrOtherBasisAmt |
| Depreciation | $809,312 | DepreciationAmt |
| Book Value | $961,784 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $7,512,294 | OtherCostOrOtherBasisAmt |
| Depreciation | $3,008,194 | DepreciationAmt |
| Book Value | $4,504,100 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $55,576,364 | OtherCostOrOtherBasisAmt |
| Depreciation | $16,746,681 | DepreciationAmt |
| Book Value | $38,829,683 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $44,431,907 | TotalBookValueLandBuildingsAmt |
Invst Program Related Org InvstProgramRelatedOrgGrp (9 entries)
| DescDesc | Book ValueBookValueAmt | Method ValuationMethodValuationCd |
|---|---|---|
| DAIRYLAND POWER COOPERATIVE, INC. | $15,032,735 | C |
| FEDERATED RURAL ELECTRIC INSURANCE CORP | $130,098 | C |
| NATIONAL RURAL UTILITIES COOPERATIVE FINANCE CORPORATION | $827,021 | C |
| WCTA | $53,074 | C |
| RURAL ELECTRIC SUPPLY COOPERATIVE | $44,105 | C |
| NATIONAL RURAL TELECOMMUNICATIONS COOPERATIVE | $20,039 | C |
| NATIONAL INFORMATION SERVICE COOPERATIVE | $60,318 | C |
| COBANK | $155,649 | C |
| OTHER INVESTMENTS | $19,091 | C |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Program Rltd | $16,342,130 | TotalBookValueProgramRltdAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (4 entries)
| DescDesc | AmtAmt |
|---|---|
| CUSTOMER DEPOSITS | $57,162 |
| DEFERRED CREDITS | $6,809,727 |
| OTHER LIABILITIES | $24,073 |
| LEASE LIABILITIES | $241,788 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $7,132,750 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $33,643,023 | TotalRevEtcAuditedFinclStmtAmt |
| Revenue Not Reported | $0 | RevenueNotReportedAmt |
| Revenue Subtotal | $33,643,023 | RevenueSubtotalAmt |
| Other Revenues Not Included | $18,142 | OtherRevenuesNotIncludedAmt |
| Revenue Not Reported Fincl Stmt | $18,142 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $33,661,165 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $31,473,961 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Not Reported | $0 | ExpensesNotReportedAmt |
| Expenses Subtotal | $31,473,961 | ExpensesSubtotalAmt |
| Other Expenses Not Included | $1,802,715 | OtherExpensesNotIncludedAmt |
| Expenses Not Rpt Fincl Stmt | $1,802,715 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $33,276,676 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (4 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART IV, LINE 1B: | THE HPC OPERATION ROUND UP PROGRAM WAS ESTABLISHED IN 2003 AND IS FUNDED WITH THE MONIES VOLUNTARILY COLLECTED BY ROUNDING UP PARTICIPATING CUSTOMER-OWNER'S ELECTRIC BILLS. THE PURPOSE OF THE PROGRAM SHALL BE THE ACCUMULATION AND DISBURSEMENT OF FUNDS FOR CHARITABLE PURPOSES OF ORGANIZATIONS, INDIVIDUALS AND/OR FAMILY EMERGENCY DISASTERS IN THE SERVICE AREA AND REGIONAL COOPERATIVE FAMILY OF HEARTLAND POWER COOPERATIVE (HPC). THE BOARD OF DIRECTORS OF HPC ADMINISTER THE PROGRAM AND A COMMITTEE DESIGNATED BY THE HPC BOARD OF DIRECTORS REVIEWS APPLICATIONS FOR PRESENTATION AND APPROVAL OF THE HPC BOARD. |
| PART X, LINE 2: | THE COOPERATIVE BELIEVES IT HAS APPROPRIATE SUPPORT FOR ANY TAX POSITIONS TAKEN AFFECTING ITS ANNUAL FILING REQUIREMENTS, AND AS SUCH, DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS THAT ARE MATERIAL TO THE FINANCIAL STATEMENTS. THE COOPERATIVE WOULD RECOGNIZE FUTURE ACCRUED INTEREST AND PENALTIES RELATED TO UNRECOGNIZED TAX BENEFITS IN INCOME TAX EXPENSE IF SUCH INTEREST AND PENALTIES ARE INCURRED. |
| PART XI, LINE 4B - OTHER ADJUSTMENTS: | PARTNERSHIP INCOME NOT ON BOOKS 18,142. |
| PART XII, LINE 4B - OTHER ADJUSTMENTS: | ALLOCATION OF 2024 MARGINS TO MEMBERS IN 2025 1,802,715. |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Compensation Committee | Yes (X) | CompensationCommitteeInd |
| 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 (5 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| JON LEERAR | ||||||||||||||
| CEO/GENERAL MANAGER | $219,798 | $0 | $0 | $0 | $0 | $0 | $139,079 | $0 | $35,977 | $0 | $394,854 | $0 | $0 | $0 |
| PETE PAULSON | ||||||||||||||
| LINE FOREMAN | $108,482 | $0 | $0 | $0 | $0 | $0 | $114,805 | $0 | $34,465 | $0 | $257,752 | $0 | $0 | $0 |
| KARRIE PRINGNITZ | ||||||||||||||
| DIRECTOR OF FINANCE | $132,928 | $0 | $0 | $0 | $0 | $0 | $52,857 | $0 | $34,001 | $0 | $219,786 | $0 | $0 | $0 |
| DAVE LOW | ||||||||||||||
| DIRECTOR OF OPERATIONS | $124,485 | $0 | $0 | $0 | $0 | $0 | $71,248 | $0 | $18,308 | $0 | $214,041 | $0 | $0 | $0 |
| GABE MAYER | ||||||||||||||
| LINE FOREMAN | $106,511 | $0 | $0 | $0 | $0 | $0 | $66,934 | $0 | $26,878 | $0 | $200,323 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | SCHEDULE J, PART II COL (C) | FormAndLineReferenceDesc |
| Explanation | INCLUDED IN COLUMN C IS THE CHANGE IN ACTUARIAL VALUE IN THE DEFINED BENEFIT PLAN FOR JON LEERAR OF $133,429. THE ACTUAL EXPENSE OF THE COOPERATIVE FOR JON'S DEFINED BENEFIT PLAN WAS $52,467. INCLUDED IN COLUMN C IS THE CHANGE IN ACTUARIAL VALUE IN THE DEFINED BENEFIT PLAN FOR PETE PAULSON OF $100,548. THE ACTUAL EXPENSE OF THE COOPERATIVE FOR DAVID'S DEFINED BENEFIT PLAN WAS $27,290. INCLUDED IN COLUMN C IS THE CHANGE IN ACTUARIAL VALUE IN THE DEFINED BENEFIT PLAN FOR KARRIE PRINGNITZ OF $51,519. THE ACTUAL EXPENSE OF THE COOPERATIVE FOR KARRIE'S DEFINED BENEFIT PLAN WAS $32,428. INCLUDED IN COLUMN C IS THE CHANGE IN ACTUARIAL VALUE IN THE DEFINED BENEFIT PLAN FOR DAVID LOW OF $59,908. THE ACTUAL EXPENSE OF THE COOPERATIVE FOR DAVID'S DEFINED BENEFIT PLAN WAS $29,216. INCLUDED IN COLUMN C IS THE CHANGE IN ACTUARIAL VALUE IN THE DEFINED BENEFIT PLAN FOR GABE MAYER OF $65,807. THE ACTUAL EXPENSE OF THE COOPERATIVE FOR DAVID'S DEFINED BENEFIT PLAN WAS $25,871. | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (12 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 6 | CLASSES OF MEMBERS INCLUDE RESIDENTIAL, AGRICULTURAL, AND COMMERCIAL. |
| FORM 990, PART VI, SECTION A, LINE 7A | ALL MEMBERS IN ALL CLASSES MAY VOTE, EACH MEMBER HAVING EQUAL AUTHORITY. |
| FORM 990, PART VI, SECTION A, LINE 7B | CERTAIN BYLAW CHANGES REQUIRE MEMBER APPROVAL. |
| FORM 990, PART VI, SECTION A, LINE 8B | THERE ARE NO COMMITTEES WITH BROAD AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. |
| FORM 990, PART VI, SECTION B, LINE 11B | THE GENERAL MANAGER OR FINANCE OFFICER REVIEWS THE 990 IN DETAIL. AFTER THEIR REVIEW, THE 990 IS PROVIDED TO EACH BOARD MEMBER. THE 990 IS NOT FILED UNTIL EACH BOARD MEMBER HAS BEEN GIVEN A COPY OF IT AND GIVEN AMPLE TIME TO REVIEW IT. |
| FORM 990, PART VI, SECTION B, LINE 12C | ALL EMPLOYEES AND BOARD MEMBERS ARE COVERED BY THE CONFLICT OF INTEREST POLICY. ANNUALLY, AND OTHERWISE UPON THE SEATING OF ANY NEW BOARD MEMBER OR UPON THE HIRING OF ANY NEW EMPLOYEE, A DISCLOSURE OF CONFLICT OF INTEREST STATEMENT WILL BE SIGNED BY EACH DIRECTOR. IT WILL BE THE RESPONSIBILITY OF THE BOARD PRESIDENT TO ADDRESS ANY CONFLICTS OF INTEREST AND TAKE APPROPRIATE ACTION IF ANY DIRECTOR OF THE COOPERATIVE HAS BEEN DEEMED NOT ADHERING TO THIS POLICY. |
| FORM 990, PART VI, SECTION B, LINE 15 | THE PROCESS OF DETERMINING COMPENSATION FOR THE CEO/GENERAL MANAGER IS: COMPARABILITY DATA, ANNUAL REVIEW AND BOARD APPROVAL. THE DISCUSSION IS DOCUMENTED IN A SPECIAL BOARD MEETING. THE BOARD OF DIRECTORS UTILIZE THE ANNUAL NRECA COMPENSATION SURVEY WHEN REVIEWING THE CEO/GENERAL MANAGER COMPENSATION. THIS PROCESS WAS LAST UNDERTAKEN IN AUGUST 2024. THE PROCESS OF DETERMINING COMPENSATION FOR OTHER OFFICERS AND MANAGEMENT IS: COMPARABILITY DATA AND AN ANNUAL REVIEW BY THE CEO/GENERAL MANAGER. |
| FORM 990, PART VI, SECTION C, LINE 19 | GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO MEMBERS OF THE COOPERATIVE 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/GENERAL MANAGER AND DIRECTOR OF FINANCE. 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 -672,332. CHANGE IN OTHER EQUITIES -11,004. ALLOCATION OF 2024 MARGINS TO MEMBERS IN 2025 1,802,715. PARTNERSHIP INCOME NOT ON BOOKS -18,142. |
| FORM 990, PART IX, LINE 4, BENEFITS PAID TO OR FOR MEMBERS: | THE COOPERATIVE HAS INTERPRETED THE INSTRUCTIONS TO PART IX, LINE 4, TO MEAN PATRONAGE CAPITAL ALLOCATED FOR THE YEAR, RATHER THAN PATRONAGE CAPITAL RETIRED. THIS IS CONSISTENT WITH THE BY-LAWS OF THE COOPERATIVE. |
| FORM 990, PART IX, LINE 24E STATEMENT OF FUNCTIONAL EXPENSES: | THE LABOR, PENSION AND PAYROLL TAXES REPORTED ON LINES 5-10 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 24E. |