2012-08-03T11:39:32-05:00 2011-12-31 410746749 CLIFTONLARSONALLEN LLP PO BOX 217 AUSTIN MN 55912 990 2011-01-01 370345145 ILLINOIS RURAL ELECTRIC COOPERATIVE ILLI 2172438700 2 SOUTH MAIN STREET WINCHESTER IL 62694 BRUCE GIFFIN 2172438700 2012-07-20 1 DEAN ROHNE P00625086 5074347000 2011 2016-02-24 21:20:13Z BRUCE GIFFIN 2 SOUTH MAIN STREET WINCHESTER IL 62694 25299829 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 61 0 627959 -121382 0 0 22573731 23888345 1902931 820525 449984 508229 24926646 25217099 0 0 0 879389 982060 428290 0 0 0 20385556 22855927 21367616 24163606 3559030 1053493 73083325 78178866 45002007 48363291 28081318 29815575 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 160,120,538 KILOWATT HOURS OF ELECTRICITY TO APPROXIMATELY 10,431 RURAL MEMBERS 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 3,282 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 26 0 1 61 1 1 1 0 0 0 0 23704057 929293 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 X 7800 1200 0 F ALAN HEATON 6.00 X 4200 600 0 JAMES GAY 3.00 X 3800 0 0 RONALD K MYERS 4.50 X 5600 0 0 GARY K CLARK 5.00 X 5800 1200 0 KEVIN BRANNAN 9.00 X 5400 1100 0 JULIA EBERLIN 4.00 X 4200 800 0 JEFFERY HILL 4.00 X 6200 0 0 THOMAS D MEEHAN III 7.00 X 6400 1100 0 ROBERT REED 4.00 X 8800 0 0 JULIE RHOADS 6.00 X 6600 0 0 ERIC LAKIN 4.00 X 2400 0 0 BRUCE N GIFFIN 40.00 X 248534 0 112556 SEAN MIDDLETON 40.00 X 117922 0 52778 RONALD COULTAS 40.00 X 110281 0 49536 RANDY LONG 40.00 X 108479 0 63213 KEVIN BAIRD 54.00 X 105267 0 16439 DENNIS TAYLOR 40.00 X 102349 0 18679 860032 6000 313201 6 0 1 0 FUNK TREE SERVICE RR1 BATCHTOWN IL 62006 TREE TRIMMING 356729 MATT DENNY'S TOWER SERVICES 507 S STATE ST CHATHAM IL 62629 TOWER SERVICES- COMM. & INTERNET 144730 2 SALE OF POWER 221000 22279989 22279989 INTERNET REVENUES 517000 1391916 766123 625793 OTHER ELECTRIC REVENUE 221000 216440 216440 23888345 271357 271357 631898 82730 549168 549168 549168 CAPITAL CREDITS 900099 502353 502353 MISCELLANEOUS 900099 5876 3710 2166 508229 25217099 23768615 627959 820525 879389 428290 1127429 2006340 COST OF POWER 13237580 DIST EXP - MAINTENANCE 2241322 INTERNET COST OF SALES 1667178 ADMIN & GENERAL EXP 1264338 1311740 24163606 369276 279163 309054 52204 2296791 1835890 1290799 1456373 815072 682461 38764 70966 71021158 13262731 52407880 57758427 1916808 2905188 813442 513775 7506854 7972669 9169 9169 5309416 4642581 73083325 78178866 1950828 1615461 39341171 41926600 629488 2057055 3080520 2764175 45002007 48363291 X 0 0 0 0 28081318 29815575 28081318 29815575 73083325 78178866 X 1053493 680764 X X 0 1 1 X 0 65316 65316 898115 668415 229700 10787122 2817198 7969924 59270605 9777118 49493487 57758427 INVEST. IN PRAIRIE STATE PROJECT 5138770 C PATRONAGE CAPITAL IN ASSOC. ORGS. 1991499 C NRUCFC CAPITAL TERM CERTS 796700 C OTHER INVESTMENTS 45700 C 7972669 UNBILLED REVENUE 1964626 INTEREST RECEIVABLE 18398 DEFERRED DEBITS 2644428 NON-UTILITY PROPERTY 10000 TRANSPORTATION CLEARING ACCOUNT 5129 4642581 CONSUMER DEPOSITS 242463 ACCUMULATED PROVISION FOR PENSION & BENEFITS 2449600 DEFERRED CREDITS 72112 2764175 DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: 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, 2011 AND 2010. WITH FEW EXCEPTIONS, THE COOPERATIVE IS NO LONGER SUBJECT TO FEDERAL, STATE, OR LOCAL INCOME TAX EXAMINATIONS BY TAX AUTHORITIES FOR YEARS BEFORE 2008. X X 0 0 0 BRUCE N GIFFIN 243834 0 0 0 4700 0 88468 0 24088 0 361090 0 0 0 SEAN MIDDLETON 113780 0 0 0 4142 0 45180 0 7598 0 170700 0 0 0 RONALD COULTAS 91581 0 0 0 18700 0 41742 0 7794 0 159817 0 0 0 RANDY LONG 103279 0 0 0 5200 0 42887 0 20326 0 171692 0 0 0 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, OFFICERS, AND KEY EMPLOYEES AND ULTIMATELY APPROVES EACH INDIVIDUAL'S SALARY. THE GENERAL MANAGER HAS A WRITTEN CONTRACT THAT IS APPROVED BY THE BOARD OF DIRECTORS. THIS PROCESS WAS LAST PERFORMED DURING 2011. 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 5: EQUITY EARNINGS IN SUBSIDIARY 333. ESTATES RETIRED -103,758. CHANGES IN OTHER COMPREHENSIVE INCOME -95,200. PATRONAGE DIVIDENDS PAID 879,389. TOTAL TO FORM 990, PART XI, LINE 5: 680,764. 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 2011. 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 333 1139785 1.00000 PRATHER OIL CO PO BOX 113 MEDORA IL 62063 371112402 SALE OF PROPANE IL ILLINOIS RURAL TELECOMMUNICATION CO C 40000 1.00000 ILLINOIS PROPANE CO 2 SOUTH MAIN STREET WINCHESTER IL 62694 202239550 SALE OF PROPANE IL ILLINOIS RURAL TELECOMMUNICATION CO C 1.00000 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 ILLINOIS RURAL TELECOMMUNICATION CO B 300000 ACTUAL PAYMENT