2026-02-10T16:59:51-06:00 2024-12-31 750882037 BOLINGER SEGARS GILBERT AND MOSS LLP 8215 NASHVILLE AVENUE LUBBOCK TX 79423 990 2024-01-01 440378635 OSAGE VALLEY ELECTRIC COOPERATIVE ASSOCIATION OSAG 6606793131 PO BOX 470 BUTLER MO 64730 JARROD CAMPBELL GENERAL MANAGER/CEO 6606793131 2026-02-10 1 0 WILLIAM M MILLER P00439459 8067473806 2026-02-10 X 2024 2025-03-06 01:10:19Z JARROD CAMPBELL PO BOX 470 BUTLER MO 64730 53197229 0 X WWW.OSAGEVALLEY.COM X 1938 MO TO PROVIDE QUALITY AND RELIABLE ELECTRIC SERVICE TO MEMBERS AT COST ON A COOPERATIVE BASIS. 8 8 57 0 8399180 0 0 0 39605267 42868861 158252 272488 6288237 10033924 46051756 53175273 9201 8285 1480209 3312869 5679982 6355712 0 0 0 36819999 40965010 43989391 50641876 2062365 2533397 189806374 199730935 137929726 145629124 51876648 54101811 COMMITTED TO PROVIDING SAFE, RELIABLE AND AFFORDABLE ELECTRIC SERVICE IN AN EFFORT TO IMPROVE THE QUALITY OF LIFE AND THE COMMUNITIES OF OUR MEMBERS. THE COOPERATIVE WILL ACCOMPLISH THIS MISSION BY FOLLOWING THE SEVEN COOPERATIVE PRINCIPLES. 0 0 SALES OF ELECTRIC ENERGY TO MEMBERS AT COST ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL. THERE WERE 17,846 ACTIVE SERVICES AT YEAR END. 0 0 1 0 0 0 0 0 0 1 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 1 55 0 57 1 1 1 0 0 0 0 41347056 7359015 0 0 0 X 8 8 0 0 0 0 1 1 1 1 0 0 0 1 1 1 1 1 1 1 1 0 X MATTHEW SHARP CFO 6606793131 PO BOX 470 BUTLER MO 64730 X CHELLE BLACK SECRETARY/TREASURER 8.00 X X 27092 0 0 DARRELL DAINS 2ND VICE PRESIDENT 8.00 X X 29759 0 0 RONALD STEUCK PRESIDENT 15.00 X X 28759 0 0 DAVID RAPP DIRECTOR 8.00 X 15856 0 0 GERALD STEPHAN 1ST VICE PRESIDENT 8.00 X X 28359 0 0 PD KIRCHER DIRECTOR 8.00 X 29856 0 0 RICHARD WIRSIG ASSISTANT SECRETARY/TREASU 8.00 X X 22309 0 0 JASON WINTER DIRECTOR 8.50 X 36197 0 0 JOE HILTY DIRECTOR 8.00 X 32325 0 0 JARROD CAMPBELL CEO/GENERAL MANAGER 50.00 X 274778 0 184084 MATTHEW SHARP CFO 40.00 X 146915 0 59543 JAMES NISSEN FOREMAN 57.00 X 177610 0 74686 JAROD MCBRAYER MATERIAL CLERK 52.00 X 151595 0 69094 TREVON RILEY ENGINEERING MANAGER 40.00 X 148275 0 20973 STETSON SHIRKY FOREMAN 49.00 X 141932 0 43501 CLINTON BENNETT FOREMAN 48.00 X 141877 0 84335 1433494 0 536216 31 0 1 0 ERVIN CABLE CONSTRUCTION LLC PO BOX 932157 ATLANTA GA 31193 FIBER CONSTRUCTION 6132110 ASPLUNDH TREE EXPERT CO INC PO BOX 827464 PHILADELPHIA PA 19182 ROW CLEARING 2429451 CONEXON LLC 2001 GRAND BLVD STE 700 KANSAS CITY MO 64108 FIBER PROJECT MANAGEMENT/DESIGN/SPLICING 2002438 BENTON TECHNICAL SERVICES INC 520 8TH AVE PO BOX 168 SOUTH WILMINGTON IL 60474 FIBER DROP CONTRACTOR 1879133 MDR CONSTRUCTION INC 621 EAST BAYLIS CHAPEL RD COLUMBIA MS 39429 MAKE READY CONSTRUCTION 1488833 9 X SALES OF ELECTRICITY 221000 39875997 39875997 PATRONAGE DIVIDENDS 221000 2660817 2660817 SERVICE FEES 221000 240891 240891 TRANSMISSION ACCESS/WHEELING 221000 63982 63982 OTHER PROGRAM REVENUE 221000 27174 27174 42868861 62077 62077 228300 17889 210411 210411 210411 5158 4067 1091 1127 -36 FIBER ACCESS REVENUE 517000 7404012 46102 5865819 1492091 FIBER CONSTRUCTION GRANTS 221000 2533397 2533397 POLE ATTACHMENT INCOME 221000 95424 95424 10032833 53175273 43126501 8399180 1649592 X 8285 3312869 915832 3548939 712372 922457 256112 6806908 5461256 PURCHASED POWER 21048432 DISTRIBUTION EXPENSE 4245508 TAXES 1352509 ADMIN & GENERAL EXPENSE 1261718 788679 50641876 1340206 978243 30719 30913 4884423 4858716 10619008 6131366 164276 262461 187253622 26094974 148402340 161158648 27862 23783736 25696782 581666 585944 189806374 199730935 7732556 5754594 127193840 134652293 3003330 5222237 137929726 145629124 X 271890 274940 0 0 51604758 53826871 51876648 54101811 189806374 199730935 X 2533397 -308234 X X 0 0 0 3000 3000 3000 1 ASSOCIATION OF MISSOURI ELECTRIC COOPERATIVES POLITICAL ACTION COMMITTEE 2722 EAST MCCARTY STREET JEFFERSON CITY MO 65101 431441879 3000 PART I-A, LINE 1: THE COOPERATIVE DONATES ANNUALLY TO THE ASSOCIATION OF MISSOURI ELECTRIC COOPERATIVES POLITICAL ACTION COMMITTEE (AMECPAC). AMECPAC USES THE FUNDS TO SUPPORT CANDIDATES AND ELECTED OFFICIALS THAT ARE WORKING ON BEHALF OF THE COOPERATIVE SYSTEMS IN THE MISSOURI STATE GOVERNMENT. 306952 306952 1363052 1425968 -62916 124783899 21571022 103212877 60799719 3097984 57701735 161158648 SPECIAL FUNDS 64550 C PATRONAGE CAPITAL - KAMO POWER 20731194 C PATRONAGE CAPITAL - CFC 1885868 C PATRONAGE CAPITAL - ARKANSAS ELECTRIC COOPERATIVE 1136236 C OTHER INVESTMENTS IN ASSOCIATED ORGANIZAITONS 307845 C OTHER INVESTMENTS ECONOMIC DEVELOPMENT LOANS 1563025 C INVESTMENT IN A-PRIME 8064 C 25696782 CONSUMER DEPOSITS 498635 DEFERRED CREDITS - EMPLOYEE RETENTION CREDITS 749803 DEFERRED CREDITS - ENERGY CONSUMER PREPAYMENTS 296110 DEFERRED CREDITS - CONEXON ARPA FUNDING 3562810 MISC OTHER LIABILITIES 114879 5222237 PART IX: THE AMOUNT OF OTHER ASSETS ON FORM 990, PAGE 11, PART X, LINE 15 DOES NOT EQUAL OR EXCEED 5% OF THE TOTAL ASSETS ON FORM 990, PAGE 11, PART X, LINE 16, COLUMN B. CONSEQUENTLY, IN ACCORDANCE WITH IRS INSTRUCTIONS, SCHEDULE D, PART IX HAS BEEN LEFT BLANK. X X X 0 0 0 JARROD CAMPBELL CEO/GENERAL MANAGER 271085 0 938 0 2755 0 145356 0 38728 0 458862 0 0 0 JAMES NISSEN FOREMAN 176416 0 669 0 525 0 42625 0 32061 0 252296 0 0 0 CLINTON BENNETT FOREMAN 140388 0 676 0 813 0 47859 0 36476 0 226212 0 0 0 JAROD MCBRAYER MATERIAL CLERK 150581 0 669 0 345 0 30199 0 38895 0 220689 0 0 0 MATTHEW SHARP CFO 145700 0 743 0 472 0 22368 0 37175 0 206458 0 0 0 STETSON SHIRKY FOREMAN 140998 0 669 0 265 0 17830 0 25671 0 185433 0 0 0 TREVON RILEY ENGINEERING MANAGER 147144 0 743 0 388 0 1985 0 18988 0 169248 0 0 0 PART II, COLUMN C: INCLUDED IN THIS AMOUNT IS THE INCREASE IN ACTUARIAL VALUE OF BENEFITS PAYABLE UNDER A DEFINED BENEFIT RETIREMENT PLAN. THE CONTRIBUTION RATE FOR PARTICIPANTS IN THE NRECA R&S DEFINED BENEFIT PENSION PLAN ARE THE SAME FOR ALL INDIVIDUALS IN THIS MULTI-EMPLOYER PLAN. THE CHANGE IN ACTUARIAL VALUE FOR EACH PARTICIPANT, HOWEVER, VARIES WITH AGE. IN OTHER WORDS, THE OLDER A PLAN PARTICIPANT IS, THE GREATER THE INCREASE IN THAT INDIVIDUAL'S CHANGE IN ACTUARIAL VALUE, ALL OTHER THINGS BEING EQUAL. BECAUSE THIS RELATES TO A MULTI-EMPLOYER PLAN, CASH CONTRIBUTIONS TO THE PLAN IN LIEU OF THE ACTUARIAL INCREASE ARE EXPENSED IN THE FINANCIAL STATEMENTS. JARROD CAMPBELL: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $131,540 EMPLOYER CONTRIBUTION TO 401(K) PLAN 13,816 TOTAL REPORTED IN COLUMN C $145,356 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN: (131,540) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN: 87,795 EXPENSE TO THE COOPERATIVE $101,611 JAMES NISSEN: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 42,625 EMPLOYER CONTRIBUTION TO 401(K) PLAN -0- TOTAL REPORTED IN COLUMN C $ 42,625 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN: (42,625) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN: 31,932 EXPENSE TO THE COOPERATIVE $ 30,456 CLINTON BENNETT: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 47,859 EMPLOYER CONTRIBUTION TO 401(K) PLAN -0- TOTAL REPORTED IN COLUMN C $ 47,859 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN: (47,859) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN: 33,231 EXPENSE TO THE COOPERATIVE $ 33,231 JAROD MCBRAYER: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 30,199 EMPLOYER CONTRIBUTION TO 401(K) PLAN -0- TOTAL REPORTED IN COLUMN C $ 30,199 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN: (30,199) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN: 31,932 EXPENSE TO THE COOPERATIVE $ 31,932 MATTHEW SHARP: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 14,831 EMPLOYER CONTRIBUTION TO 401(K) PLAN 7,537 TOTAL REPORTED IN COLUMN C $ 22,368 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN: (14,831) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN: 37,867 EXPENSE TO THE COOPERATIVE $ 45,404 MICHAEL MASTEN: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 56,312 EMPLOYER CONTRIBUTION TO 401(K) PLAN 6,642 TOTAL REPORTED IN COLUMN C $ 62,954 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN: (56,312) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN: 42,564 EXPENSE TO THE COOPERATIVE $ 49,206 STETSON SHIRKY: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 17,830 EMPLOYER CONTRIBUTION TO 401(K) PLAN -0- TOTAL REPORTED IN COLUMN C $ 17,830 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN: (17,830) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN: 33,231 EXPENSE TO THE COOPERATIVE $ 33,231 TREVON RILEY: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 12,448 EMPLOYER CONTRIBUTION TO 401(K) PLAN 7,537 TOTAL REPORTED IN COLUMN C $ 19,985 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN: (12,448) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN: 37,867 EXPENSE TO THE COOPERATIVE $ 45,404 FORM 990, PART VI, SECTION A, LINE 6 THE COOPERATIVE WAS FORMED BY THE MEMBERS TO PROVIDE ELECTRIC SERVICE AT COST ON A COOPERATIVE BASIS. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERS OF THE COOPERATIVE VOTE ON THE BOARD OF DIRECTORS. ELECTIONS ARE DONE ON A ONE MEMBER ONE VOTE BASIS. FORM 990, PART VI, SECTION A, LINE 7B THE FOLLOWING ACTS REQUIRE APPROVAL OF THE MEMBERS OF THE COOPERATIVE: 1. DISSOLUTION/LIQUIDATION OF THE COOPERATIVE 2. MERGER OR CONSOLIDATION OF THE COOPERATIVE WITH ANOTHER ORGANIZATION 3. DISPOSAL OF A SUBSTANTIAL PORTION OF THE COOPERATIVE'S ASSETS 4. AMENDMENT TO THE ARTICLES OF INCORPORATION 5. AMENDMENT TO THE BYLAWS FORM 990, PART VI, SECTION A, LINE 8B THE COOPERATIVE HAS NO COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. THEREFORE, AND PURSUANT TO FORM 990 INSTRUCTIONS, THE QUESTION HAS BEEN ANSWERED "NO". FORM 990, PART VI, SECTION B, LINE 11B MANAGEMENT PRESENTED A COPY OF THE FORM 990 TO THE BOARD FOR DISCUSSION AND REVIEW PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C EACH EMPLOYEE IS PROVIDED A PERSONNEL POLICY MANUAL AND EACH DIRECTOR IS PROVIDED A BOARD POLICY MANUAL THAT INCLUDES THE CONFLICT OF INTEREST POLICY FOR ALL EMPLOYEES AND DIRECTORS. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF DIRECTORS USE A COMPENSATION SURVEY WHEN DETERMINING THE COMPENSATION OF THE COOPERATIVE'S CEO/GENERAL MANAGER. THE BOARD AND THE GENERAL MANAGER USE A COMPENSATION SURVEY WHEN DETERMINING THE COMPENSATION OF OTHER EMPLOYEES MEETING THE DEFINITION OF OFFICER AND KEY EMPLOYEES, IF ANY. THE SURVEY INCLUDES SALARIES FROM SIMILARLY SITUATED COOPERATIVES THROUGHOUT THE NATION. FORM 990, PART VI, SECTION C, LINE 19 THE COOPERATIVE PROVIDES A SUMMARIZED COPY OF THE AUDITED FINANCIAL STATEMENTS TO THE MEMBERS OF THE COOPERATIVE AT THE ANNUAL MEETING. THE COOPERATIVE WILL PROVIDE A COMPLETE COPY OF THE AUDITED FINANCIAL STATEMENTS, CONFLICT OF INTEREST POLICY, OR GOVERNING DOCUMENTS TO ANY MEMBER WHO REQUESTS A COPY ANY SUCH DOCUMENT. FORM 990, PARTS VI & VII: THE COOPERATIVE ANNUALLY PROVIDES EACH DIRECTOR WHO SERVED ON THE BOARD DURING THE YEAR A QUESTIONNAIRE. THE COMPLETED QUESTIONNAIRES AND TIME LOGS ARE USED TO COMPLETE THE APPLICABLE QUESTIONS ON THE FORM 990 PERTAINING TO BUSINESS RELATIONSHIPS AMONG DIRECTORS, OFFICERS, AND KEY EMPLOYEES, AS WELL AS TO DETERMINE IF THERE ARE ANY TRANSACTIONS WHICH MUST BE REPORTED IN DETAIL ON SCHEDULE L - "TRANSACTIONS WITH INTERESTED PERSONS". IF THE COOPERATIVE WAS UNABLE TO OBTAIN A COMPLETED QUESTIONNAIRE, THE COOPERATIVE RELIED UPON THE COMPLETED INFORMATION FOR THE PRIOR YEAR. RAY HEUSER PASSED AWAY IN SEPTEMBER OF 2024; THEREFORE, HIS PRIOR YEAR QUESTIONNAIRE WAS RELIED UPON WHILE PREPARING THE 2024 FORM 990. THERE WERE NO KNOWN CHANGES FROM 2023 TO 2024. FORM 990, PART VII, COLUMN F: IN ORDER TO PROVIDE RETIREMENT BENEFITS TO ITS EMPLOYEES, THE COOPERATIVE HAS ESTABLISHED A DEFINED CONTRIBUTION PLAN UNDER SECTION 401(K) OF THE INTERNAL REVENUE CODE. EMPLOYER CONTRIBUTIONS TO THE PLAN ARE MADE PURSUANT TO THE PLAN DOCUMENT. ADDITIONALLY, THE COOPERATIVE PARTICIPATES IN A MULTI-EMPLOYER DEFINED BENEFIT PLAN. CONTRIBUTIONS TO THIS PLAN ARE BASED ON THE FULL FUNDING LIMITATION OF SUCH PLAN. EMPLOYER CONTRIBUTIONS FOR BOTH PLANS ARE AVAILABLE TO PARTICIPATING EMPLOYEES, INCLUDING OFFICERS AND HIGHLY COMPENSATED EMPLOYEES, MEETING THE ELIGIBILITY REQUIREMENTS OF SUCH PLANS. THE COOPERATIVE ALSO PROVIDES HEALTH AND LIFE INSURANCE TO ALL ELIGIBLE EMPLOYEES THROUGH A QUALIFIED PLAN. THE AMOUNTS REPORTED ON PART VII, COLUMN (F) FOR THE OFFICER AND HIGHLY COMPENSATED EMPLOYEES IS COMPRISED OF THE ACTUARIAL INCREASE IN THE DEFINED BENEFIT PLAN, THE TOTAL AMOUNT CONTRIBUTED BY THE COOPERATIVE TO THE DEFINED CONTRIBUTION PLAN AND INSURANCE PAID ON BEHALF OF AND FOR THEIR BENEFIT. FORM 990, PART VIII, LINE 2B: PATRONAGE DIVIDENDS RESULT FROM THE PURCHASE OF WHOLESALE POWER FROM A GENERATION & TRANSMISSION COOPERATIVE. PATRONAGE DIVIDENDS ALSO RESULT FROM THE PAYMENT OF INTEREST FROM COOPERATIVE BANKS AND THE PURCHASE OF SUPPLIES AND SERVICES FROM OTHER COOPERATIVE ORGANIZATIONS. THE EXPENSES ASSOCIATED WITH PURCHASES FROM AND PAYMENTS TO SUCH COOPERATIVE ORGANIZATIONS ARE A DIRECT COMPONENT OF COST OF THE ELECTRIC SERVICE PROVIDED BY THE COOPERATIVE TO ITS MEMBERS. FORM 990, PART IX: THE ACCOUNTING RECORDS OF THE COOPERATIVE ARE MAINTAINED IN ACCORDANCE WITH THE UNIFORM SYSTEM OF ACCOUNTS (USOA) AS PRESCRIBED BY THE FEDERAL REGULATORY COMMISSION FOR CLASS A AND B ELECTRIC UTILITIES MODIFIED FOR ELECTRIC BORROWERS OF THE THE RURAL UTILITIES SERVICE (RUS). THE USOA DOES NOT RECORD EXPENSES IN THE GENERAL EXPENSE CATEGORIES PROVIDED ON PART IX LINES 1-23. THE COOPERATIVE SEPARATELY STATES SALARIES AND WAGES, EMPLOYEE BENEFITS AND PAYROLL TAXES THAT ARE ALLOCATED IN ACCORDANCE WITH THEIR ACCOUNTING SYSTEM, BUT OTHER EXPENSES THAT ARE DESCRIBED IN LINES 1-23 ARE REPORTED ON LINE 24 UNDER THE EXPENSE CATEGORIES REQUIRED BY THE USOA. FORM 990, PART IX, LINES 5-7: SALARIES AND WAGES ARE ALLOCATED TO ASSET, LIABILITY, AND EXPENSE ACCOUNTS BASED ON THE ACCOUNTING SYSTEM DESCRIBED ABOVE. THE FOLLOWING SCHEDULE RECONCILES AMOUNTS REPORTED ON LINES 5-7 TO TOTAL WAGES ACCRUED AND/OR PAID: TOTAL PER LINES 5-7 $ 4,464,771 LESS: DIRECTOR FEES REPORTED ON FORMS 1099-NEC (250,512) LESS: EMPLOYEE OFFICER BENEFITS REPORTED ON LINE 5 (243,627) PLUS: SALARIES AND WAGES CAPITALIZED DIRECTLY TO PLANT 1,286,207 PLUS: SALARIES AND WAGES CAPITALIZED/EXPENSED INDIRECTLY THROUGH CLEARING AND OTHER ACCOUNTS 297,706 TOTAL WAGES ACCRUED AND/OR PAID $ 5,554,545 FORM 990, PART IX, LINE 24E: OTHER EXPENSES IS COMPRISED OF THE FOLLOWING: CUSTOMER ACCOUNTS $ 400,120 OTHER DEDUCTIONS 313,349 SALES 51,490 CUSTOMER SERVICE AND INFORMATION 23,720 TOTAL OTHER EXPENSES PER FORM 990, LINE 24E $ 788,679 FORM 990, PART IX, LINE 4: PURSUANT TO THE FORM 990 INSTRUCTIONS, THE AMOUNT OF PATRONAGE DIVIDENDS PAID TO THE MEMBERS (HEREINAFTER REFERRED TO AS "PATRONS") SHOULD BE REPORTED ON PART IX, LINE 4. THE PHRASE "PATRONAGE DIVIDENDS PAID" REFERS TO THE PROCESS, SUBSEQUENT TO YEAR-END, BY WHICH THE COOPERATIVE ALLOCATES PATRONAGE CAPITAL TO AND, THEREFORE, OPERATES AT COST WITH ITS PATRONS. THE COOPERATIVE'S TAX EXEMPT PURPOSE IS TO PROVIDE ELECTRICITY TO ITS PATRONS AND TO DO SO ON A COOPERATIVE BASIS. TAX LAW DEFINES "OPERATING ON A COOPERATIVE BASIS" AS SUBORDINATION OF CAPITAL, DEMOCRATIC CONTROL, AND OPERATION AT COST. THE COOPERATIVE OPERATES AT COST THROUGH THE ALLOCATION OF TRUE PATRONAGE DIVIDENDS (ALSO REFERRED TO AS ALLOCATIONS OF PATRONAGE CAPITAL) TO ITS PATRONS. PATRONAGE DIVIDENDS ARE CONSIDERED PAID IF THE ALLOCATION IS MADE (1) PURSUANT TO A PRE-EXISTING OBLIGATION, (2) FROM THE MARGINS PRODUCED FROM THE TRANSACTIONS DONE WITH OR FOR PATRONS, AND (3) IN A FAIR AND EQUITABLE MANNER ON THE BASIS OF PATRONAGE (I.E. PURCHASES). ADDITIONALLY, THE ALLOCATION OF PATRONAGE DIVIDENDS SHOULD BE MADE WITHIN A REASONABLE TIME PERIOD AFTER THE CLOSE OF THE COOPERATIVE'S YEAR-END OF DECEMBER 31. EACH ONE OF THESE REQUIREMENTS FOR A TRUE PATRONAGE DIVIDEND IS PROVIDED FOR IN THE NON-PROFIT OPERATION ARTICLE OF THE COOPERATIVE'S BYLAWS. THE AMOUNT REPORTED ON PART IX, LINE 4 REPRESENTS THE AMOUNT OF PATRONAGE CAPITAL THAT IS EITHER ALLOCATED OR TO BE ALLOCATED TO THE PATRONS RESULTING FROM THEIR PURCHASE OF ELECTRICITY FROM THE COOPERATIVE FOR THE 2024 CALENDAR YEAR. BECAUSE PATRONAGE DIVIDENDS ARE THE PROCESS BY WHICH THE COOPERATIVE OPERATES AT COST WITH ITS PATRONS AND THEREBY A KEY COMPONENT TO ACCOMPLISHING ITS EXEMPT PURPOSE, THE COOPERATIVE HAS REPORTED SUCH AMOUNTS AS AN EXPENSE FOR FORM 990 REPORTING. PATRONAGE DIVIDENDS ARE NOT AN EXPENSE FOR FINANCIAL STATEMENTS PREPARED IN ACCORDANCE WITH GENERALLY ACCEPTED ACCOUNTING PRINCIPLES, HOWEVER. FORM 990, PART IX, LINE 1: ALL GRANTS, SPONSORSHIPS, AND/OR DONATIONS ARE MADE TO NON-PROFIT AND CIVIC ORGANIZATIONS THAT ARE LOCATED IN THE COOPERATIVE'S SERVICE AREA, AND ARE INTENDED TO IMPROVE THE COMMUNITIES IN WHICH OUR MEMBERS RESIDE. EACH GRANT, SPONSORSHIP, AND/OR DONATION MADE DURING THE YEAR WAS BELOW THE REPORTING THRESHOLD OF SCHEDULE I, PART II. FORM 990, PART IX, LINE 24: ADMINISTRATIVE & GENERAL EXPENSE IS COMPRISED OF THE FOLLOWING: ADMINISTRATIVE & GENERAL SALARIES, BENEFITS, & OTHER $ 1,542,174 OFFICE SUPPLIES 96,807 OUTSIDE SERVICES 73,640 INJURIES AND DAMAGES 324 EMPLOYEE BENEFITS 139,728 MISCELLANEOUS GENERAL 122,758 DIRECTORS 297,285 DUES AND SUBSCRIPTIONS 63,652 MAINTENANCE OF GENERAL PLANT 735,642 ADVERTISING 160,380 ANNUAL MEETING 77,652 TOTAL ADMIN & GENERAL EXP PER FINANCIAL STATEMENTS $ 3,310,042 LESS: RECLASS OF DIRECTOR FEES TO PART IX, LINE 5 (250,512) LESS: RECLASS OF LABOR TO PART IX, LINES 5 & 7 (1,169,241) LESS: RECLASS OF BENEFITS TO PART IX, LINES 8-10 (628,571) TOTAL ADMIN & GENERAL EXPENSE PER FORM 990, PART IX $ 1,261,718 FORM 990, PART XI, LINE 9: BOOK-TAX ADJUSTMENT: UBI TAX BASIS OF CONSTRUCTION GRANTS -2,533,397. PATRONAGE CAPITAL ALLOCATED OR TO BE ALLOCATED 3,312,869. PATRONAGE CAPITAL RETIRED - TOTAL -1,310,614. PATRONAGE CAPITAL RETIRED - DISCOUNT 109,407. PATRONAGE CAPITAL RETIRED - UNCLAIMED -171,890. NET CHANGE IN MEMBERSHIP FEE 3,050. DONATED CAPITAL 339,474. ACCUMULATED OTHER COMPREHENSIVE INCOME -57,133. FORM 990, PART XII, LINE 2B: AUDITED FINANCIAL STATEMENTS WERE PREPARED BY AN INDEPENDENT ACCOUNTANT FOR THE COOPERATIVE'S FINANCIAL STATEMENT AUDIT YEAR-END OF JUNE 30TH. THE TAX RETURN HAS BEEN AND CONTINUES TO BE PREPARED BASED ON A CALENDAR TAX YEAR-END OF DECEMBER 31. THE BOARD AS A WHOLE IS RESPONSIBLE FOR OVERSEEING THE FINANCIAL STATEMENT AUDIT AND SELECTING THE INDEPENDENT FINANCIAL STATEMENT AUDITOR. OSAGE VALLEY ELECTRIC COMMUNITY TRUST PO BOX 470 BUTLER MO 64730 431636719 COMMUNITY ASSISTANCE MO 501(C)(3) LINE 7 OSAGE VALLEY ELECTRIC COOPERATIVE 1 OSAGE VALLEY TECHNOLOGIES LLC PO BOX 470 BUTLER MO 64730 141876332 TELECOMMUNICATIONS MO OSAGE VALLEY ELECTRIC COOPEATIVE ASSOCIATION C 1.00000 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 OSAGE VALLEY TECHNOLOGIES LLC N N/A - LESS THAN $50,000 OSAGE VALLEY TECHNOLOGIES LLC O N/A - LESS THAN $50,000 OSAGE VALLEY ELECTRIC COMMUNITY TRUST N N/A - LESS THAN $50,000 OSAGE VALLEY ELECTRIC COMMUNITY TRUST O N/A - LESS THAN $50,000