2013-08-13T09:44:07-05:00 2012-12-31 410746749 CLIFTONLARSONALLEN LLP PO BOX 217 AUSTIN MN 55912 990 2012-01-01 370345145 ILLINOIS RURAL ELECTRIC COOPERATIVE ILLI 2172438700 2 SOUTH MAIN STREET WINCHESTER IL 62694 BRUCE GIFFIN 2172438700 2013-07-09 1 CRAIG POPENHAGEN P00625086 5074347000 2012 2016-02-24 21:20:13Z BRUCE GIFFIN 2 SOUTH MAIN STREET WINCHESTER IL 62694 25480966 0 X WWW.E-CO-OP.COM X 1936 IL IN THE COOPERATIVE TRADITION, ILLINOIS RURAL ELECTRIC IS DEDICATED TO IMPROVING THE QUALITY OF LIFE FOR OUR MEMBERS THROUGH DEPENDABILITY AND INNOVATION. 11 11 60 0 693903 0 0 0 23888345 24942492 820525 120941 508229 416389 25217099 25479822 0 0 879389 893950 428290 512242 0 0 0 22855927 23480168 24163606 24886360 1053493 593462 78178866 83416914 48363291 53036575 29815575 30380339 IN THE COOPERATIVE TRADITION, ILLINOIS RURAL ELECTRIC IS DEDICATED TO IMPROVING THE QUALITY OF LIFE FOR OUR MEMBERS THROUGH DEPENDABILITY AND INNOVATION. 0 0 WE PROVIDED 159,807,428 KILOWATT HOURS OF ELECTRICITY TO APPROXIMATELY 10,413 RURAL ACCOUNTS IN ALL OR PART OF TEN COUNTIES IN THE STATE OF ILLINOIS AND WILL CONTINUE THIS IN THE FUTURE. WE PROVIDED INTERNET SERVICES TO APPROXIMATELY 3,668 CUSTOMERS IN ALL OR PART OF TEN COUNTIES IN THE STATE OF ILLINOIS. THIS PROGRAM HAS BEEN GROWING AND WE EXPECT CONTINUED GROWTH IN THE FUTURE. 0 0 0 0 0 0 0 0 0 1 0 1 1 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 1 30 0 60 1 1 1 0 0 0 0 25067314 859712 0 X 11 11 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X ILLINOIS RURAL ELECTRIC COOPERATIVE 2172438700 2 SOUTH MAIN STREET WINCHESTER IL 62694 ROBERT BROWN 9.00 0.50 X X 7400 1200 0 JAMES GAY 3.00 X 4600 0 0 RONALD K MYERS 4.50 0.50 X X 6000 1100 0 GARY K CLARK 5.00 0.50 X 5600 1200 0 KEVIN BRANNAN 9.00 0.50 X X 7200 1200 0 JULIA EBERLIN 4.00 0.50 X 4200 1200 0 JIM FREEMAN 4.00 X 2800 0 0 THOMAS D MEEHAN III 7.00 0.50 X X 8600 1200 0 ROBERT REED 4.00 X 7400 0 0 JULIE RHOADS 6.00 X 5800 0 0 ERIC LAKIN 4.00 X 4600 0 0 BRUCE N GIFFIN 40.00 X 245069 0 85807 DENNIS TAYLOR 40.00 X 95577 0 21589 SEAN MIDDLETON 40.00 X 114817 0 56619 RANDY LONG 40.00 X 113907 0 26999 633570 7100 191014 3 0 1 0 CROFT ELECTRICAL CONTRACTORS 226 HWY KK TROY MO 63379 REBUILDING DISTRIBUTION SYSTEM 881285 PRAIRIE POWER INC PO BOX 610 JACKSONVILLE MO 62650 REBUILDING DISTRIBUTION SYSTEM 325051 FUNK TREE SERVICE RR1 BATCHTOWN IL 62006 TREE TRIMMING 273172 SHELTON CONSTRUCTION & SERVICES INC 22757 US HWY 63 SUITE B KIRKSVILLE MO 63501 REBUILDING DISTRIBUTION SYSTEM 265340 BIGELOW ELECTRIC 1395 OLD RT 36 JACKSONVILLE IL 62650 TOWER & ELECTRICAL SERVICES 159168 5 SALE OF POWER 221000 23163514 23163514 INTERNET REVENUES 517000 1591447 897544 693903 OTHER ELECTRIC REVENUE 221000 187531 187531 24942492 104876 104876 17209 1144 16065 16065 16065 CAPITAL CREDITS 900099 414126 414126 MISCELLANEOUS 900099 2263 2263 416389 25479822 24664978 693903 120941 893950 512242 1195286 2273294 COST OF POWER 13466189 DIST EXP - MAINTENANCE 2115059 INTERNET COST OF SALES 1534580 ADMIN & GENERAL EXP 1528398 1367362 24886360 279163 859915 52204 516657 1835890 1577586 1456373 825308 682461 768762 70966 86537 77221726 14174991 57758427 63046735 2905188 2497108 513775 508121 7972669 8347457 9169 9169 4642581 4373559 78178866 83416914 1615461 2333635 41926600 45493449 2057055 1878623 2764175 3330868 48363291 53036575 X 0 0 0 0 29815575 30380339 29815575 30380339 78178866 83416914 X 593462 -28698 X X 0 1 X 1 0 126394 126394 898115 695562 202553 13113147 3667719 9445428 63084070 9811710 53272360 63046735 INVEST. IN PRAIRIE STATE PROJECT 5138770 C PATRONAGE CAPITAL IN ASSOC. ORGS. 2379621 C NRUCFC CAPITAL TERM CERTS 796107 C OTHER INVESTMENTS 27700 C DEFERRED COMPENSATION FUND 5259 C 8347457 UNBILLED REVENUE 2013862 INTEREST RECEIVABLE 16640 DEFERRED DEBITS 2343057 4373559 CONSUMER DEPOSITS 259007 ACCUMULATED PROVISION FOR PENSION & BENEFITS 2920059 DEFERRED CREDITS 151802 3330868 X DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X, LINE 2: THE COOPERATIVE HAS BEEN GRANTED TAX EXEMPT STATUS UNDER SECTION 501(C)(12) OF THE INTERNAL REVENUE CODE. IRTC UTILIZES AN ASSET AND LIABILITY APPROACH TO FINANCIAL ACCOUNTING AND REPORTING FOR INCOME TAXES. DEFERRED INCOME TAXES ARE COMPUTED ANNUALLY FOR DIFFERENCES BETWEEN THE FINANCIAL STATEMENT AND TAX BASIS OF ASSETS AND LIABILITIES THAT WILL RESULT IN TAXABLE OR DEDUCTIBLE AMOUNTS IN THE FUTURE BASED ON ENACTED TAX LAWS AND RATES APPLICABLE TO THE PERIODS IN WHICH THE DIFFERENCES ARE EXPECTED TO AFFECT TAXABLE INCOME. SUCH DIFFERENCES RELATE PRIMARILY TO THE USE OF ACCELERATED DEPRECIATION METHODS FOR INCOME TAX PURPOSES AS COMPARED TO THE STRAIGHT-LINE METHOD FOR FINANCIAL REPORTING AND AMORTIZATION OF GOODWILL FOR INCOME TAX PURPOSES. VALUATION ALLOWANCES ARE ESTABLISHED WHEN NECESSARY TO REDUCE DEFERRED TAX ASSETS TO THE AMOUNT EXPECTED TO BE REALIZED. THE PROVISION FOR INCOME TAXES IS THE TAX PAYABLE OR REFUNDABLE FOR THE PERIOD PLUS OR MINUS THE CHANGE DURING THE PERIOD IN DEFERRED TAX ASSETS AND LIABILITIES. IRTC FILES A CONSOLIDATED TAX RETURN, WHICH INCLUDES ITS SUBSIDIARIES. THE CONSOLIDATED INCOME TAX PROVISION (BENEFIT) IS RECORDED BY IRTC AND IS NOT ALLOCATED TO ITS SUBSIDIARIES. 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, 2012 AND 2011. WITH FEW EXCEPTIONS, THE COOPERATIVE IS NO LONGER SUBJECT TO FEDERAL, STATE, OR LOCAL INCOME TAX EXAMINATIONS BY TAX AUTHORITIES FOR YEARS BEFORE 2009. X X X 0 1 0 BRUCE N GIFFIN 235706 0 0 0 9363 0 64951 0 20856 0 330876 0 0 0 SEAN MIDDLETON 114817 0 0 0 0 0 33032 0 23587 0 171436 0 0 0 PART I, LINE 4B BRUCE GIFFIN, GENERAL MANAGER, PARTICIPATED IN A 457 DEFERRED COMPENSATION PLAN CONTRIBUTING $5,200 IN 2012. FORM 990, PART VI, SECTION A, LINE 6 THE COOPERATIVE HAS TWO CLASSES OF MEMBERS. CLASS A MEMBERS, ELECTRIC MEMBERS, HAVE VOTING RIGHTS. CLASS B MEMBERS, INTERNET MEMBERS, DO NOT HAVE VOTING RIGHTS. FORM 990, PART VI, SECTION A, LINE 7A EACH CUSTOMER WHO RECEIVES ELECTRIC SERVICE IS A MEMBER. THE MEMBERS ELECT THE MEMBERS OF THE BOARD OF DIRECTORS AND APPROVE SIGNIFICANT DECISIONS OF THE COOPERATIVE. FORM 990, PART VI, SECTION A, LINE 7B THE COOPERATIVE HAS ONE CLASS OF MEMBERSHIP THAT MUST VOTE ON CHANGES TO THE BYLAWS, ARTICLES OF INCORPORATION, AND SALE OF SUBSTANTIALLY ALL OF THE COOPERATIVE'S ASSETS. FORM 990, PART VI, SECTION B, LINE 11 EACH MEMBER OF THE BOARD OF DIRECTORS WAS PROVIDED AN ELECTRONIC COPY OF THE RETURN PRIOR TO ITS FILING. THE GENERAL MANAGER CONDUCTED A REVIEW OF THE RETURN, INCLUDING VERIFYING FINANCIAL AND OTHER INFORMATION AGAINST INTERNAL INFORMATION. FORM 990, PART VI, SECTION B, LINE 12C COUNSEL REVIEWS POLICY ANNUALLY WITH THE BOARD AND SENIOR MANAGEMENT. THE GENERAL MANAGER REVIEWS IT ANNUALLY WITH THE EMPLOYEES. DETERMINATIONS FOR THE BOARD ARE AT THE BOARD LEVEL, GENERAL MANAGER AT THE BOARD LEVEL AND ALL OTHER EMPLOYEES AT GENERAL MANAGER LEVEL. RESTRICTIONS ON THE BOARD IN THE INSTANCE OF A CONFLICT OF INTEREST DOES NOT ALLOW THEM TO VOTE ON THE MATTER AND EMPLOYEES ARE PROHIBITED FROM HAVING CONFLICTS OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF DIRECTORS REVIEWS COMPARATIVE SALARY INFORMATION FOR THE GENERAL MANAGER. THE GENERAM MANAGER REVIEWS COMPARATIVE SALARY INFORMATION FOR ALL OTHER EMPLOYEES. THE GENERAL MANAGER HAS A WRITTEN CONTRACT THAT IS APPROVED BY THE BOARD OF DIRECTORS. THIS PROCESS WAS LAST PERFORMED DURING 2012. FORM 990, PART VI, SECTION C, LINE 19 THE COOPERATIVE'S GOVERNING DOCUMENTS, CONFLICTS OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE MADE AVAILABLE UPON REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 9: EQUITY EARNINGS IN SUBSIDIARY -5,654. PATRONAGE RETIRED -606,134. CHANGES IN OTHER COMPREHENSIVE INCOME -311,500. PATRONAGE DIVIDENDS ALLOCATED 893,950. UNCLAIMED PATRONAGE CHECKS 640. FORM 990, PART XII, LINE 2C THE BOARD OF DIRECTORS PROCESS FOR OVERSIGHT OF THE AUDIT AND SELECTION OF AN INDEPENDENT AUDITOR HAS NOT CHANGED IN 2012. 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. MIDSTATE PROPANE LLC 2402 SOUTH MAIN STREET JACKSONVILLE IL 62650 371413502 SALE OF PROPANE IL 0 373750 ILLINOIS RURAL TELECOMMUNICATION CO ILLINOIS RURAL TELECOMMUNICATION CO 2 SOUTH MAIN STREET WINCHESTER IL 62694 371306087 TELECOMMUNICATIONS IL ILLINOIS RURAL ELECTRIC COOP C -5654 1134131 1.00000 0 PRATHER OIL CO PO BOX 113 MEDORA IL 62063 371112402 SALE OF PROPANE IL ILLINOIS RURAL TELECOMMUNICATION CO C 1.00000 0 ILLINOIS PROPANE CO 2 SOUTH MAIN STREET WINCHESTER IL 62694 202239550 SALE OF PROPANE IL ILLINOIS RURAL TELECOMMUNICATION CO C 1.00000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0