2014-04-28T09:37:13-05:00 2013-12-31 410746749 CLIFTONLARSONALLEN LLP PO BOX 217 AUSTIN MN 55912 990 2013-01-01 420394605 MAQUOKETA VALLEY RURAL ELECTRIC COOPERATIVE MAQU 3194623542 109 N HUBER STREET ANAMOSA IA 522050370 JAMES M LAUZON CEO 3194623542 2014-04-22 1 CRAIG POPENHAGEN P01587689 5074347000 2013 2015-11-30 17:44:51Z JAMES M LAUZON 109 N HUBER STREET ANAMOSA IA 522050370 32607470 0 X WWW.MVEC.COOP X 1936 IA PROVIDE RELIABLE, QUALITY ELECTRIC SERVICE IN A SAFE, RESPECTFUL, ENVIROMENTALLY RESPONSIBLE, AND COST EFFECTIVE MANNER. 9 9 72 0 4501 0 0 0 30183547 31071878 193469 267826 1229299 1245762 31606315 32585466 0 0 1216193 1782796 303530 301505 0 0 0 29246592 30101165 30766315 32185466 840000 400000 61062326 63773918 37836274 39059284 23226052 24714634 SELL AND DISTRIBUTE ELECTRIC ENERGY TO RURAL CONSUMERS AND MAINTAIN DISTRIBUTION SYSTEM. 0 0 MAQUOKETA VALLEY ELECTRIC COOPERATIVE PROVIDES ELECTRIC ENERGY SERVICES OVER 3,227 MILES OF DISTRBUTION LINE TO 16,977 METERED SERVICES, SERVING MORE THAN 12,647 RURAL RESIDENTIAL AND COMMERCIAL MEMBER-CONSUMERS IN NINE COUNTIES IN NORTHEASTERN IOWA. 0 0 0 0 0 0 0 0 0 1 0 1 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 35 0 72 1 1 1 0 0 0 0 31675129 1755261 0 X 9 9 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 0 0 X KELLY GIBBS 3194623542 109 NORTH HUBER STREET ANAMOSA IA 52205 LARRY SWANSON PRESIDENT 5.00 X X 10500 0 0 GENE MANTERNACH VICE PRESIDENT 9.60 X X 4550 0 0 ELDON BUSCH SECRETARY 5.00 X X 6300 0 0 JUDY GOTTO TREASURER 7.00 X X 7875 0 0 CHARLES MCCULLOUGH ASSISTANT SECRETARY 8.00 X X 8750 0 0 THOMAS STEWART DIRECTOR 5.50 X 6475 0 0 RON THIELEN DIRECTOR 4.00 X 5600 0 0 BILLIE ZUMBACH DIRECTOR 3.70 X 8575 0 0 JAN NULL DIRECTOR 3.30 X 6825 0 0 JAMES LAUZON CEO 50.00 X 191581 0 44474 257031 0 44474 1 0 1 0 MJ ELECTRIC PO BOX 840965 DALLAS TX 75284 LINE CONSTRUCTION 1788842 POWER SYSTEMS ENGINEERING 1532 W BROADWAY MADISON WI 53713 ENGINEERING SERVICES 208731 RANDALL CHRISTOPHER M DBA RANDALLS TREE 506 C AVE GRUNDY CENTER IA 50638 TREE TRIMMING 181900 AMERIPOLE INSPECTION COMPANY PO BOX 114 MARSHALTOWN IA 50158 TREATMENT AND INSPECTION OF POLES 104777 R&R TIMBER PO BOX 3 BELLEVUE IA 52031 TREE TRIMMING 103962 5 SALE OF POWER 221000 31071878 31071878 31071878 209214 209214 67923 3032 64891 64891 3455 61436 66902 8290 58612 58612 58612 11728 10682 1046 1046 CAPITAL CREDITS 523000 1179825 1179825 1179825 32585466 32251703 4501 329262 1782796 301505 1660798 2240295 COST OF POWER 19731066 DIST EXP - OPERATIONS 1972771 DIST EXP - MAINTENANCE 1572426 ADMIN & GENERAL EXPENSE 1093133 1830676 32185466 2097420 2272715 1200893 718013 3974774 4257535 1878917 2016828 344991 1711591 74209261 28317136 44878905 45892125 6446510 6657617 143029 143782 96887 103712 61062326 63773918 2890384 3141506 751475 527675 34063083 34027435 0 1211638 131332 151030 37836274 39059284 X 0 0 0 0 23226052 24714634 23226052 24714634 61062326 63773918 X 400000 1088582 X X 0 1 X 1 1 1 534430 534430 2375865 928497 1447368 7577882 4648557 2929325 63721084 22740082 40981002 45892125 PATRONAGE CAPITAL-ASSOC ORGS 4993886 C INVESTMENT IN CFC CTC 602332 C MEMBER CAP SECS 500000 C FEDERAL ECONOMIC DEVELOPMENT LOANS 150006 C NON-FEDERAL ECONOMIC DEVELOPMENT LOANS 380503 C OTHER MEMBERSHIPS & CAPITAL 30890 C 6657617 CONSUMER DEPOSITS 100307 ACCUM PROV FOR PENSION & BENEFITS 50723 151030 X 32585466 0 32585466 0 32585466 30402670 0 30402670 1782796 1782796 32185466 PART X, LINE 2: THE COOPERATIVE IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(12) OF THE INTERNAL REVENUE CODE, THUS, NO PROVISION FOR INCOME TAXES HAS BEEN RECORDED AT DECEMBER 31, 2013 AND 2012. HOWEVER THE COOPERATIVE IS SUBJECT TO TAX ON ITS UNRELATED BUSINESS INCOME. THE PROVISION AMOUNTS FOR 2013 AND 2012 WERE NOT SIGNIFICANT TO THE FINANCIAL STATEMENTS. THE COOPERATIVE ADOPTED THE INCOME TAX STANDARD FOR UNCERTAIN TAX POSITIONS ON JANUARY 1, 2009. AS A RESULT OF IMPLEMENTATION, THE COOPERATIVE EVALUATED ITS TAX POSITIONS AND DETERMINED THAT IT HAS NO UNCERTAIN TAX POSITIONS AS OF DECEMBER 31, 2013. WITH FEW EXCEPTIONS, THE COOPERATIVE IS NO LONGER SUBJECT TO FEDERAL, STATE, OR LOCAL INCOME TAX EXAMINATIONS BY TAX AUTHORITIES FOR YEARS BEFORE 2009. PART XII, LINE 4B - OTHER ADJUSTMENTS: PATRONAGE DIVIDENDS PAID 1,782,796. X X X X 0 0 0 JAMES LAUZON CEO 191581 0 0 0 0 0 33488 0 10986 0 236055 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 ALL ELECTRIC CONSUMERS ARE ELIGIBLE TO BE MEMBERS OF THE COOPERATIVE. FORM 990, PART VI, SECTION A, LINE 7A EACH MEMBER-OWNER IS ENTITLED TO ONE VOTE. MEMBERS VOTE ON ELECTION OF DIRECTORS AND REMOVAL OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 7B THERE IS ONE CLASS OF MEMBERSHIP. MEMBERS VOTE ON THE ALLOCATION OF SURPLUS, ALLOCATION TO STATUTORY FUNDS, AMENDMENTS TO THE ARTICLES OF INCORPORATION, AND ANY RESOLUTION TO SELL, LEASE, EXCHANGE OR DISPOSE OF SUBSTANTIALLY ALL PROPERTY AND ASSETS OF THE COOPERATIVE. FORM 990, PART VI, SECTION B, LINE 11 EACH DIRECTOR WAS SENT EITHER A HARD COPY OF THE FORM, OR A LINK WHERE THEY COULD ACCESS THE FORM ELECTRONICALLY PRIOR TO THE FORM BEING FILED. DIRECTORS WERE NOTIFIED THAT FORM WAS READY FOR THEIR REVIEW AND THEY WERE PROVIDED 7 DAYS TO REVIEW FORM. FORM 990, PART VI, SECTION B, LINE 12C DIRECTORS ARE REQUIRED TO REPORT ANY POTENTIAL CONFLICT OF INTEREST TO THE BOARD OF DIRECTORS. THE POLICY REQUIRES THAT THE DIRECTOR MUST REFRAIN FROM DISCUSSION AND THE DECISION ON WHICH SUCH CONFLICT OF INTERESTS EXIST. FORM 990, PART VI, SECTION B, LINE 15A THE BOARD REVIEWED AND APPROVED THE SALARY OF THE CEO IN 2013 USING COMPARABLE COMPENSATION AMOUNTS FROM FORM 990'S OF OTHER ORGANIZATIONS AND A COMPENSATION STUDY. FORM 990, PART VI, SECTION C, LINE 19 THE COOPERATIVE DOES NOT MAKE AVAILABLE TO THE PUBLIC ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, OR FINANCIAL STATEMENTS. FORM 990, PART XI, LINE 9: PAYMENTS OF PATRONAGE CAPITAL -721,018. DONATED CAPITAL 26,804. PATRONAGE DIVIDENDS PAID 1,782,796. FORM 990, PART XII, LINE 2C THIS PROCESS HAS NOT CHANGED FROM PRIOR YEAR. 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 12 OF THE FORM 990 AND IN PART XII ON SCHEDULE D.