2011-06-21T12:25:05-05:00 2010-12-31 LARSONALLEN LLP PO BOX 217 AUSTIN MN 55912 990 2010-01-01 410473341 PEOPLE'S COOPERATIVE SERVICES PEOP 5072884004 PO BOX 339 ROCHESTER MN 55903 ELAINE J GARRY 5072884004 2011-06-07 1 DEAN ROHNE 5074347000 2010 2016-02-24 21:20:13Z ELAINE J GARRY PO BOX 339 ROCHESTER MN 55903 31137411 0 X WWW.PEOPLESREC.COM X 1936 MN PROVIDING ELECTRICITY TO MEMBERS OF THE COOPERATIVE. 7 7 59 0 -1917 -1917 0 0 29298503 29232172 149392 105103 1346838 1739498 30794733 31076773 0 0 0 0 388698 433047 0 0 0 27739584 28304252 28128282 28737299 2666451 2339474 82518581 88517660 51041573 55437907 31477008 33079753 TO DISTRIBUTE ELECTRICITY TO THE MEMBERS OF THE ELECTRIC COOPERATIVE. 0 0 THE PRIMARY PURPOSE OF THE COOPERATIVE IS TO BUY ELECTRIC ENERGY AND SELL ELECTRIC ENERGY TO ITS MEMBERS. 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 1 0 1 0 0 1 15 0 1 59 1 1 1 0 0 0 0 30270821 1839075 0 X 7 7 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X X ELAINE J GARRY 5072884004 3935 HWY 14EPO BOX 339 ROCHESTER MN 55903 ANTHONY EBERT 12.00 X 16230 0 0 SHARON HART 9.00 X 17489 0 0 ROBERT J HOEFS 11.00 X 15930 0 0 L LEO LENTZ 10.00 X 17135 0 0 EUGENE MILLER 9.00 X 16355 0 0 JOHN NINTEMANN 16.00 X 18938 0 0 KENNETH WOHLERS 10.00 X 18776 0 0 ELAINE J GARRY 50.00 X 153420 0 52009 JEFF L THOMPSON 50.00 X 78428 0 28337 352701 0 80346 1 0 1 0 MICHELS POWER PO BOX 1719 FOND DU LAC WI 54936 LINE BUILDER 864497 GREAT LAKES LINE BUILDERS N2023 GREENVILLE DRIVE GREENVILLE WI 54942 LINE BUILDER 777397 CARR'S TREE SERVICE PO BOX 250 OTTERTAIL MN 56571 TREE CLEARING 751428 ELCOR CONSTRUCTION INC 123 CARLTON ST W ROCHESTER MN 55902 UTILITY INSTALLATION 637024 ELITE TREE INC 105 HOLLAND DRIVE PELLA IA 50219 TREE CLEARING 507617 9 SALE OF POWER 221000 29232172 29232172 29232172 93382 93382 1350 1350 1350 1350 11721 11721 11721 11721 73818 60638 13180 13180 CAPITAL CREDITS 900099 750626 750626 RPU NET REVENUE 900099 684472 684472 RPU SETTLEMENT 900099 291787 291787 -1917 -1917 1724968 31076773 30972237 -1917 106453 433047 2081422 2730836 COST OF POWER 16839638 DISTRIBUTION EXPENSE - 2542730 DISTRIBUTION EXPENSE - 1691168 CONSUMER ACCOUNT EXPENS 1132313 ADMINISTRATIVE & GENERA 1126658 159487 28737299 1131058 2017413 154 3534349 3122936 660393 698597 21167 373093 91893615 22903861 66154354 68989754 623967 612021 10383739 12694138 9554 9554 82518581 88517660 3359913 3569205 351828 2153862 46837082 49126000 492750 588840 51041573 55437907 X 0 0 0 0 31477008 33079753 31477008 33079753 82518581 88517660 X 2339474 -736729 X X 0 1 1 X 0 558746 558746 1238375 790979 447396 6610758 3227193 3383565 83485736 18885689 64600047 68989754 NRUCFC-CAPITAL TERM CERTIFICATES 820492 C DAIRYLAND POWER COOPERATIVE 8266843 C NRUCFC-PATRONAGE CAPITAL CREDITS 194917 C NRTC-PATRONAGE CAPITAL CREDITS 430055 C INVESTMENT IN ECONOMIC DEVELOPMENTS 462112 C MEMBERSHIPS AND OTHER INVESTMENTS 2519719 C 12694138 CONSUMER DEPOSITS 170240 ACC. POST RETIREMENT BENEFITS 418600 588840 31076773 28737299 2339474 -736729 -736729 1602745 31074752 0 31074752 2021 2021 31076773 28737299 0 28737299 0 28737299 DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: THE COOPERATIVE IS EXEMPT FROM INCOME TAXES UNDER 501(C)(12) OF THE INTERNAL REVENUE CODE, THUS THERE IS NO PROVISION FOR INCOME TAXES AT DECEMBER 31, 2010 AND 2009. THE COOPERATIVE HAS EVALUATED ITS TAX POSITIONS AND DETERMINED THAT IT HAS NO UNCERTAIN TAX POSITIONS AS OF DECEMBER 31, 2010. THE COOPERATIVE'S 2007, 2008, AND 2009 TAX YEARS ARE OPEN FOR EXAMINATION BY THE IRS. PART XI, LINE 8 - OTHER ADJUSTMENTS: CAPITAL CREDITS RETIRED -678,408. ACCUMLULATED OTHER COMPREHENSIVE INCOME -56,300. HEARTLAND SECURITY SERVICES, LLC (SCHEDULE K-1 INCOME) -2,021. PART XII, LINE 4B - OTHER ADJUSTMENTS: HEARTLAND SECURITY SERVICES, LLC (SCHEDULE K-1 INCOME) 2,021. X X 0 0 0 ELAINE J GARRY 150743 0 0 0 2677 0 35418 0 16591 0 205429 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 EACH CUSTOMER IS A MEMBER OF THE ELECTRIC COOPERATIVE AND HAS VOTING RIGHTS AT THE ANNUAL MEETING. FORM 990, PART VI, SECTION A, LINE 7A EACH CUSTOMER IS A MEMBER OF THE ELECTRIC COOPERATIVE AND MAY ELECT MEMBERS OF THE GOVERNING BODY. EACH MEMBER IS ALLOWED ONE VOTE. FORM 990, PART VI, SECTION B, LINE 11 THE MANAGER WILL REVIEW THE 990 BEFORE IT IS FILED AND THEN CONDUCT A REVIEW WITH THE BOARD. FORM 990, PART VI, SECTION B, LINE 12C DIRECTORS AND KEY EMPLOYEES ANSWER A QUESTIONNAIRE REGARDING BUSINESS RELATIONSHIPS, FAMILY RELATIONSHIPS AND INDEPENDENCE. DIRECTORS AND EMPLOYEES WITH A CONFLICT MAY FACE APPROPRIATE SANCTION. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION OF OFFICERS AND KEY EMPLOYEES ARE BASED UPON AN APPROVED EMPLOYEE COMPENSATION ADMINISTRATION POLICY AND A COMPENSATION PLAN, BOTH APPROVED BY THE BOARD OF DIRECTORS. THE DATA USED IN THE COMPENSATION PLAN IS COLLECTED FROM THE NRECA NATIONAL COMPENSATION SURVEY. THE BOARDS PROCESS FOR DETERMINING CEO COMPENSATION IS BASED ON RESULTS OF A WRITTEN PERFORMANCE EVALUATION COMPLETED BY ALL BOARD MEMBERS THEN SUMMARIZED. COMPENSATION IS THEN DETERMINED BY COMPARING REGIONAL SALARY LEVELS FOR CEO'S BASED ON COMPANY SIZE WITH CURRENT CEO'S SALARY AND PERFORMANCE. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: CAPITAL CREDITS RETIRED -678,408. ACCUMLULATED OTHER COMPREHENSIVE INCOME -56,300. HEARTLAND SECURITY SERVICES, LLC (SCHEDULE K-1 INCOME) -2,021. TOTAL TO FORM 990, PART XI, LINE 5: -736,729. FORM 990, PART XII, LINE 2C THE COOPERATIVE'S BOARD OF DIRECTORS ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND THE SELECTION OF ITS INDEPENDENT ACCOUNTANT. ELGIN INDUSTRIAL PARK LLC PO BOX 359 ROCHESTER MN 55903 450516115 REAL ESTATE SALES MN 5 2488134 N/A 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 NO TRANSACTIONS LISTED ABOVE