ALLAMAKEE-CLAYTON ELECTRIC COOPERATIVE INC: Form 990, tax year 2024
View the entire original 990 at ProPublica ↗
- Organization
- ALLAMAKEE-CLAYTON ELECTRIC COOPERATIVE INC (EIN 42-0110380)
- Tax period
- 2024-01-01 to 2024-12-31
- Filed
- 2025-11-04
- IRS object ID
- 202523089349303527
- 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 | 2025-11-04T15:35:07-06:00 | 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 | 420110380 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | ALLAMAKEE-CLAYTON ELECTRIC | BusinessNameLine1Txt |
| Business Name Line2 | COOPERATIVE INC | BusinessNameLine2Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | ALLA | BusinessNameControlTxt |
| Phone | 5638647611 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 715 | AddressLine1Txt |
| City | POSTVILLE | CityNm |
| State Abbreviation | IA | StateAbbreviationCd |
| ZIP | 52162 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | HOLLEE MCCORMICK | PersonNm |
| Person Title | EXEC. VP AND GENERAL MANAGER | PersonTitleTxt |
| Phone | 5638647611 | PhoneNum |
| Signature | 2025-11-04 | 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 | 2025-11-04 | 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 | HOLLEE MCCORMICK | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 715 | AddressLine1Txt |
| City | POSTVILLE | CityNm |
| State Abbreviation | IA | StateAbbreviationCd |
| ZIP | 52162 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $24,808,365 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | WWW.ACREC.COM | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1938 | FormationYr |
| Legal Domicile State | IA | LegalDomicileStateCd |
| Activity Or Mission | PROVIDE SAFE, RELIABLE AND AFFORDABLE ELECTRIC SERVICES AND RELATED INNOVATIONS IN TECHNOLOGY. | ActivityOrMissionDesc |
| Voting Members Governing Body | 9 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 9 | VotingMembersIndependentCnt |
| Total Employee | 42 | TotalEmployeeCnt |
| Total Volunteers | 0 | TotalVolunteersCnt |
| Total Gross UBI | $859,053 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $24,189,247 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $24,691,612 | CYProgramServiceRevenueAmt |
| PY Investment Income | $124,619 | PYInvestmentIncomeAmt |
| CY Investment Income | $116,753 | CYInvestmentIncomeAmt |
| PY Other Revenue | $0 | PYOtherRevenueAmt |
| CY Other Revenue | $0 | CYOtherRevenueAmt |
| PY Total Revenue | $24,313,866 | PYTotalRevenueAmt |
| CY Total Revenue | $24,808,365 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $14,433 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $16,326 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $581,360 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $81,994 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $4,425,890 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $4,632,993 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $19,192,183 | PYOtherExpensesAmt |
| CY Other Expenses | $20,077,052 | CYOtherExpensesAmt |
| PY Total Expenses | $24,213,866 | PYTotalExpensesAmt |
| CY Total Expenses | $24,808,365 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $100,000 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $0 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $73,004,351 | TotalAssetsBOYAmt |
| Total Assets EOY | $83,346,538 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $45,557,753 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $56,387,818 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $27,446,598 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $26,958,720 | NetAssetsOrFundBalancesEOYAmt |
| Mission | ALLAMAKEE-CLAYTON ELECTRIC COOPERATIVE IS DEDICATED TO ENHANCING THE QUALITY OF LIFE FOR OUR MEMBERS, PARTNERS AND NEIGHBORS BY PROVIDING SAFE, RELIABLE AND AFFORDABLE ELECTRIC SERVICES AND OTHER INNOVATIVE SOLUTIONS. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Desc | ALLAMAKEE-CLAYTON ELECTRIC COOPERATIVE WAS ORGANIZED IN 1938 BY MEMBERS BECAUSE INVESTOR-OWNED UTILITIES BYPASSED RURAL IOWA DUE TO ITS SPARSE POPULATION. ALLAMAKEE-CLAYTON ELECTRIC COOPERATIVE PROVIDES ELECTRIC POWER TO 9,964 CUSTOMERS ON 2,530 MILES OF LINE IN PORTIONS OF EIGHT COUNTIES: ALLAMAKEE, CLAYTON, FAYETTE, WINNESHIEK, CHICKASAW, BREMER, DELAWARE AND DUBUQUE. OUR CUSTOMER BASE IS 95% FARM AND RURAL RESIDENTIAL AND MAINTAINS 24-HOUR AROUND-THE-CLOCK ELECTRIC SERVICE. CREWS ARE AVAILABLE TO ENSURE QUALITY SERVICE AT ALL TIMES. | 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 | Yes (1) | 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 | 33 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 42 | 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 | $23,600,337 | MembersAndShrGrossIncomeAmt |
| Other Sources Gross Income | $1,404,129 | 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 | 9 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 9 | 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 | 0 | 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 | DAVID DECKER | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 5638647611 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 715 | AddressLine1Txt |
| City | POSTVILLE | CityNm |
| State Abbreviation | IA | StateAbbreviationCd |
| ZIP | 52162 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part VII | Yes (X) | InfoInScheduleOPartVIIInd |
Form990 Part VII Section A Form990PartVIISectionAGrp (16 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 |
|---|---|---|---|---|---|---|---|
| JEFFREY BRADLEY | |||||||
| PRESIDENT UNTIL 09/2024 | 5.60 | Yes (X) | Yes (X) | $11,400 | $0 | $0 | |
| MICHAEL GIBBS | |||||||
| VICE PRESIDENT | 3.10 | Yes (X) | Yes (X) | $7,200 | $0 | $0 | |
| CYNTHIA HEFFERN | |||||||
| SECRETARY-TREASURER | 6.30 | Yes (X) | Yes (X) | $10,800 | $0 | $0 | |
| ROGER ARTHUR | |||||||
| DIRECTOR | 4.50 | Yes (X) | $6,900 | $0 | $0 | ||
| NELSON CONVERSE | |||||||
| DIRECTOR | 2.10 | Yes (X) | $8,100 | $0 | $0 | ||
| GREG FORMANEK | |||||||
| DIRECTOR | 2.70 | Yes (X) | $8,700 | $0 | $0 | ||
| JERRY KELEHER | |||||||
| DIRECTOR | 2.00 | Yes (X) | $7,800 | $0 | $0 | ||
| ALAN STEFFENS | |||||||
| DIRECTOR/ PRESIDENT FROM 09/2024 | 3.00 | Yes (X) | Yes (X) | $9,600 | $0 | $0 | |
| BRICE WOOD | |||||||
| DIRECTOR | 2.60 | Yes (X) | $7,800 | $0 | $0 | ||
| HOLLEE MCCORMICK | |||||||
| EXECUTIVE VP & GEN MANAGER | 44.20 | Yes (X) | $170,460 | $0 | $32,796 | ||
| DAVID DECKER | |||||||
| CFO | 55.40 | Yes (X) | $134,781 | $0 | $15,264 | ||
| JASON TROENDLE | |||||||
| DIRECTOR OF OPERATIONS | 44.80 | $124,218 | $0 | $30,240 | Yes (X) | ||
| JOSH ABBOTT | |||||||
| LEAD LINEMAN | 47.00 | $118,827 | $0 | $31,632 | Yes (X) | ||
| JACK REGAN | |||||||
| LINE CREW FOREMAN | 45.10 | $122,875 | $0 | $4,500 | Yes (X) | ||
| TIM BAUCH | |||||||
| LINE SUPERINTENDENT | 44.30 | $115,520 | $0 | $28,034 | Yes (X) | ||
| RYAN WAGNER | |||||||
| MEMBER SERVICE MANAGER | 41.90 | $113,806 | $0 | $18,186 | Yes (X) | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $978,787 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $160,652 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 18 | 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 |
|---|---|---|---|---|---|
| A & A ELECTRIC AND UNDERGROUND | |||||
| 100 9TH STREET SE | KASSON | MN | 55944 | FIBEROPTIC INSTALLATION, UGD SERVICES | $4,254,512 |
| WEST UNION TRENCHING | |||||
| 800 HWY 150 SOUTH | WEST UNION | IA | 52175 | UNDERGROUND TRENCHING SERVICES | $2,460,589 |
| R&S FIBEROPTIC SERVICES | |||||
| 500 SUNRISE BLVD | DECORAH | IA | 52101 | CONSULTING AND FIBEROPTIC INTERNET DEVEL | $750,904 |
| RIGGS TREE SERVICE (DBA NEW AGE TREE SER | |||||
| PO BOX 453225 | GROVE | OK | 74345 | TREE CUTTING AND VEGETATION MANAGEMENT | $613,900 |
| ASPLUNDH TREE EXPERT COMPANY | |||||
| 708 BLAIR MILL ROAD | WILLOW GROVE | PA | 19090 | TREE CUTTING AND VEGETATION MANAGEMENT | $351,950 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 9 | CntrctRcvdGreaterThan100KCnt |
Program Service Revenue ProgramServiceRevenueGrp (4 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt | Unrelated Business RevenueUnrelatedBusinessRevenueAmt | ExclusionExclusionAmt |
|---|---|---|---|---|---|
| ELECTRICITY SALES | 221000 | $22,355,072 | $22,355,072 | ||
| OTHER INCOME | 517000 | $1,445,686 | $604,775 | $840,911 | |
| COOP CAPITAL CREDITS | 221000 | $802,702 | $802,702 | ||
| EQUITY INVESTMENTS | 221000 | $88,152 | $18,142 | $70,010 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $24,691,612 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $113,689 | TotalRevenueColumnAmt |
| Exclusion | $113,689 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $3,064 | OtherAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $0 | OtherAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $3,064 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $3,064 | TotalRevenueColumnAmt |
| Exclusion | $3,064 | ExclusionAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $24,808,365 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $23,762,549 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $859,053 | UnrelatedBusinessRevenueAmt |
| Exclusion | $186,763 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part IX | Yes (X) | InfoInScheduleOPartIXInd |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $16,326 | TotalAmt |
Benefits To Members BenefitsToMembersGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $81,994 | TotalAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $491,425 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,158,424 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $717,500 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $265,644 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,371,366 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,308,173 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| COST OF POWER | $11,771,859 |
| DISTRIBUTION MAINTENANC | $2,234,315 |
| DISTRIBUTION OPERATIONS | $1,763,994 |
| ADMIN & GENERAL | $699,345 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | -$72,000 | TotalAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $24,808,365 | TotalAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $725,969 | BOYAmt |
| EOY | $482,700 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,443,870 | BOYAmt |
| EOY | $5,326,965 | EOYAmt |
Inventories For Sale Or Use InventoriesForSaleOrUseGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,661,441 | BOYAmt |
| EOY | $1,245,780 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $409,385 | BOYAmt |
| EOY | $226,001 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $91,382,032 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $33,070,370 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $52,734,887 | BOYAmt |
| EOY | $58,311,662 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,491,519 | BOYAmt |
| EOY | $4,889,495 | EOYAmt |
Investments Program Related InvestmentsProgramRelatedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $12,513,889 | BOYAmt |
| EOY | $12,838,231 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $23,391 | BOYAmt |
| EOY | $25,704 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $73,004,351 | BOYAmt |
| EOY | $83,346,538 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,880,479 | BOYAmt |
| EOY | $2,225,249 | EOYAmt |
Escrow Account Liability EscrowAccountLiabilityGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $43,737 | BOYAmt |
| EOY | $46,023 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $39,655,713 | BOYAmt |
| EOY | $49,511,751 | EOYAmt |
Unsecured Notes Loans Payable UnsecuredNotesLoansPayableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,668,722 | BOYAmt |
| EOY | $3,292,801 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,309,102 | BOYAmt |
| EOY | $1,311,994 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $45,557,753 | BOYAmt |
| EOY | $56,387,818 | 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 | $490 | BOYAmt |
| EOY | $490 | EOYAmt |
Pd In Cap Srpls Land Bldg Eqp Fund PdInCapSrplsLandBldgEqpFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $13,376,447 | BOYAmt |
| EOY | $13,474,350 | EOYAmt |
Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $14,069,661 | BOYAmt |
| EOY | $13,483,880 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $27,446,598 | BOYAmt |
| EOY | $26,958,720 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $73,004,351 | BOYAmt |
| EOY | $83,346,538 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $0 | ReconcilationRevenueExpnssAmt |
| Other Changes In Net Assets | -$487,878 | 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) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | 0 | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Agent Trustee Etc | 0 | AgentTrusteeEtcInd |
| Incl Escrow Custodial Acct Liab | Yes (1) | InclEscrowCustodialAcctLiabInd |
| Explanation Provided | Yes (X) | ExplanationProvidedInd |
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $149,566 | OtherCostOrOtherBasisAmt |
| Book Value | $149,566 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $6,365,560 | OtherCostOrOtherBasisAmt |
| Depreciation | $2,172,025 | DepreciationAmt |
| Book Value | $4,193,535 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $5,537,187 | OtherCostOrOtherBasisAmt |
| Depreciation | $3,718,272 | DepreciationAmt |
| Book Value | $1,818,915 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $79,329,719 | OtherCostOrOtherBasisAmt |
| Depreciation | $27,180,073 | DepreciationAmt |
| Book Value | $52,149,646 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $58,311,662 | TotalBookValueLandBuildingsAmt |
Other Securities OtherSecuritiesGrp (3 entries)
| DescDesc | Book ValueBookValueAmt | Method ValuationMethodValuationCd |
|---|---|---|
| OTHER INVESTMENTS | $4,657,586 | C |
| IOWA CHOICE RENEWABLES,LLC | $1,399 | C |
| MINNOWA ALLIANCE, LLC | $230,510 | C |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Securities | $4,889,495 | TotalBookValueSecuritiesAmt |
Invst Program Related Org InvstProgramRelatedOrgGrp (8 entries)
| DescDesc | Book ValueBookValueAmt | Method ValuationMethodValuationCd |
|---|---|---|
| DAIRYLAND POWER COOPERATIVE | $8,489,575 | C |
| NATIONAL RURAL UTILITIES COOPERATIVE FINANCE CORPORATION | $2,789,364 | C |
| NATIONAL RURAL TELECOMMUNICATIONS COOPERATIVE | $1,028,815 | C |
| FEDERATED RURAL ELECTRIC INSURANCE CORPORATION | $155,904 | C |
| RURAL ELECTRIC SUPPLY COOPERATIVE | $292,229 | C |
| OTHER PATRONAGE CREDITS & MEMBERSHIPS | $58,534 | C |
| IOWA AREA DEVELOPMENT GROUP | $17,273 | C |
| CHARGE EV, LLC | $6,537 | C |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Program Rltd | $12,838,231 | TotalBookValueProgramRltdAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (3 entries)
| DescDesc | AmtAmt |
|---|---|
| POSTRETIREMENT BENEFIT OBLIGATION | $1,023,922 |
| DEFERRED CREDITS | $215,614 |
| CUSTOMER DEPOSITS | $72,458 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $1,311,994 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $22,294,072 | TotalRevEtcAuditedFinclStmtAmt |
| Revenue Not Reported | $0 | RevenueNotReportedAmt |
| Revenue Subtotal | $22,294,072 | RevenueSubtotalAmt |
| Other Revenues Not Included | $2,514,293 | OtherRevenuesNotIncludedAmt |
| Revenue Not Reported Fincl Stmt | $2,514,293 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $24,808,365 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $22,212,078 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Not Reported | $0 | ExpensesNotReportedAmt |
| Expenses Subtotal | $22,212,078 | ExpensesSubtotalAmt |
| Other Expenses Not Included | $2,596,287 | OtherExpensesNotIncludedAmt |
| Expenses Not Rpt Fincl Stmt | $2,596,287 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $24,808,365 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (4 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART IV, LINE 2B: | ALLAMAKEE-CLAYTON ELECTRIC (ACEC) ESTABLISHED RECARE, A CUSTOMER CONTRIBUTION FUND IN WHICH MEMBERS OF ACEC CAN ASSIST OTHER MEMBERS WHO NEED HELP PAYING ELECTRIC BILLS. ACEC COLLECTS CONTRIBUTIONS FROM MEMBERS AND DISBURSES FUNDS TO BENEFICIARIES WHO MEET ELIGIBILITY CRITERIA AS ESTABLISHED BY A RECARE COUNCIL. THE RECARE COUNCIL CONSISTS OF A REPRESENTATIVE OF NORTHEAST IOWA COMMUNITY ACTION, A REPRESENTATIVE OF SHEPHERD OF THE HILLS, AND THE ALLAMAKEE-CLAYTON ELECTRIC GENERAL MANAGER. THE RECARE COUNCIL MEETS ANNUALLY TO REVIEW THE PROGRAM AND MAKE ANY CHANGES TO THE PROGRAM. A BENEFICIARY MUST BE REFERRED BY NORTHEAST IOWA COMMUNITY ACTION CORPORATION, SHEPHERD OF THE HILLS, A PASTOR OF A CHURCH, A VETERAN'S ORGANIZATION OR SIMILAR SOCIAL SERVICES OFFICE. DOCUMENTATION ON THE APPROPRIATE FORM, ALONG WITH THE NAME OF THE REFERRING AGENCY OR PERSON IS REQUIRED BEFORE FUNDS ARE APPROVED FOR DISBURSEMENT. APPLICATIONS FOR FUNDS ARE REVIEWED BY ACEC STAFF AND THE GENERAL MANAGER TO DETERMINE IF THE APPLICANT MEETS QUALIFICATIONS. IF APPROVED, NOTIFICATION OF APPROVAL AND THE AMOUNT OF FUNDS IS PROVIDED TO THE RECIPIENT, RECARE COUNCIL REPRESENTATIVES FROM NORTHEAST IOWA COMMUNITY ACTION AND SHEPHERD OF THE HILLS. |
| 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: | OTHER EXPENSES NETTED TO REVENUE FOR GAAP 2,514,293. |
| PART XII, LINE 4B - OTHER ADJUSTMENTS: | ALLOCATION OF 2024 MARGINS IN 2025 81,994. OTHER EXPENSES NETTED TO REVENUE FOR GAAP 2,514,293. |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| 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 (4 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| HOLLEE MCCORMICK | ||||||||||||||
| EXECUTIVE VP & GEN MANAGER | $170,085 | $0 | $0 | $0 | $375 | $0 | $5,136 | $0 | $29,130 | $0 | $204,726 | $0 | $0 | $0 |
| JASON TROENDLE | ||||||||||||||
| DIRECTOR OF OPERATIONS | $123,946 | $0 | $0 | $0 | $272 | $0 | $3,768 | $0 | $27,585 | $0 | $155,571 | $0 | $0 | $0 |
| JOSH ABBOTT | ||||||||||||||
| LEAD LINEMAN | $118,540 | $0 | $0 | $0 | $287 | $0 | $3,972 | $0 | $28,504 | $0 | $151,303 | $0 | $0 | $0 |
| DAVID DECKER | ||||||||||||||
| CFO | $133,646 | $0 | $0 | $0 | $1,135 | $0 | $6,168 | $0 | $10,252 | $0 | $151,201 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | SCHEDULE J, PART II, COLUMN C | FormAndLineReferenceDesc |
| Explanation | INCLUDED IN THE AMOUNT REPORTED IN COLUMN C FOR THE ACTUARIAL VALUE OF THE DEFINED BENEFIT PLAN ARE AS FOLLOWS: - HOLLEE MCCORMICK $5,136 - JASON TROENDLE $3,768 - JOSH ABBOTT $3,972 - DAVID DECKER $6,168 ACTUAL COOPERATIVE CONTRIBUTIONS TO THE DEFINED BENEFIT PLAN ARE AS FOLLOWS: - HOLLEE MCCORMICK $38,878 - JASON TROENDLE $28,569 - JOSH ABBOTT $27,850 - DAVID DECKER $29,622 | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (12 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 6 | ALLAMAKEE-CLAYTON ELECTRIC COOPERATIVE HAS TWO CLASSES OF MEMBERS. CLASSES OF MEMBERS ARE CLASS A MEMBERS (TRADITIONAL MEMBERS OF THE COOPERATIVE) AND CLASS B MEMBERS (MUNICIPAL UTILITIES). CLASS DISTINCTION IS FOR THE PURPOSE OF ALLOCATION OF COOPERATIVE PATRONAGE. |
| FORM 990, PART VI, SECTION A, LINE 7A | ALLAMAKEE-CLAYTON ELECTRIC COOPERATIVE HAS TWO CLASSES OF MEMBERS WITH EACH CLASS HAVING EQUAL VOTING RIGHTS. |
| FORM 990, PART VI, SECTION A, LINE 8B | NO COMMITTEES OF THE ORGANIZATION HAVE BROAD AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. |
| FORM 990, PART VI, SECTION B, LINE 11B | FORM 990 IS REVIEWED BY THE EXECUTIVE VICE PRESIDENT AND GENERAL MANAGER, COOPERATIVE ATTORNEY AND DIRECTOR OF FINANCE BEFORE IT IS FILED. THE BOARD OF DIRECTORS WILL BE PROVIDED WITH THE FINAL DRAFT BEFORE IT IS FILED. THE DIRECTOR OF FINANCE REVIEWS AND VERIFIES ALL FINANCIAL NUMBERS AND CALCULATIONS TO ENSURE THEY ACCURATELY REFLECT FINANCIAL STATEMENT INFORMATION. A QUESTIONNAIRE IS PROVIDED BY THE FORM 990 PREPARER WHICH IS COMPLETED BY THE DIRECTOR OF FINANCE. COOPERATIVE BOARD POLICIES AND OPERATING PROCEDURES ARE REVIEWED IN THE PROCESS OF COMPLETING THE QUESTIONNAIRE. THE COOPERATIVE ATTORNEY REVIEWS FORM 990 PRIOR TO ITS BEING FILED TO VERIFY THAT QUESTIONS ARE ANSWERED CORRECTLY AND THE FORM IS COMPLETED PROPERLY. |
| FORM 990, PART VI, SECTION B, LINE 12C | BOARD GOVERNANCE POLICY NO. 407, "CONFLICTS OF INTEREST", IMPOSES A SELF-POLICING REQUIREMENT FOR EACH DIRECTOR TO DISCLOSE SITUATIONS OR CIRCUMSTANCES THAT POSE A CONFLICT OF INTEREST OR THE APPEARANCE OF A CONFLICT OF INTEREST. ACCORDING TO THE POLICY, A DIRECTOR MAY REQUEST AN OPINION FROM THE COOPERATIVE'S GENERAL COUNSEL TO DETERMINE IF A PARTICULAR SITUATION POSES A CONFLICT OF INTEREST OR THE APPEARANCE THEREOF. THE POLICY FURTHER ASSIGNS RESPONSIBILITY TO THE BOARD OF DIRECTORS AND THE GENERAL MANAGER WITH ADVICE OF THE GENERAL COUNSEL TO ASSURE COMPLIANCE WITH THE POLICY. THE POLICY REQUIRES EACH DIRECTOR TO ANNUALLY SIGN A CONFLICT OF INTEREST DISCLOSURE STATEMENT. |
| FORM 990, PART VI, SECTION B, LINE 15 | THE BOARD REVIEWS THE GENERAL MANAGER'S COMPENSATION DURING THE ANNUAL MANAGER PERFORMANCE REVIEW PROCESS. A COMPENSATION STUDY WAS DONE IN 2023 IN WHICH THE BOARD APPROVED A NON-UNION EMPLOYEE COST OF LIVING WAGE INCREASE FOR THE YEARS 2023, 2024, AND 2025. |
| FORM 990, PART VI, SECTION C, LINE 19 | DOCUMENTS ARE AVAILABLE UPON WRITTEN 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 EXECUTIVE VP/GENERAL MANAGER AND DIRECTOR OF FINANCE/ADMIN SERVICES. 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 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. |
| 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 XI, LINE 9: | RETIREMENT OF CAPITAL CREDITS -569,872. ALLOCATION OF 2024 MARGINS IN 2025 81,994. |
| PART XII LINE 2C | THE ENTIRE BOARD OF DIRECTORS IS RESPONSIBLE FOR OVERSIGHT OF THE AUDIT OF THE FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT. |