2011-06-15T16:01:19-05:00 2010-12-31 LARSONALLEN LLP PO BOX 217 AUSTIN MN 55912 990 2010-01-01 420536190 SOUTHERN IOWA ELECTRIC COOPERATIVE INC SOUT 6416642277 PO BOX 70 BLOOMFIELD IA 52537 MARK AEILTS 6416642277 2011-06-02 1 DEAN ROHNE 5074347000 2010 2016-02-24 21:20:13Z MARK AEILTS PO BOX 70 BLOOMFIELD IA 52537 13045176 0 X WWW.SIE.COOP X 1939 IA TO PROVIDE ELECTRICITY TO RURAL COMMUNITIES. 9 9 28 0 0 0 0 0 11844891 12451119 76607 98521 419997 474272 12341495 13023912 0 0 0 0 293937 316867 0 0 0 10493493 10819911 10787430 11136778 1554065 1887134 36650962 38672494 24433850 24524566 12217112 14147928 X OUR MISSION IS TO SERVE OUR MEMBERS AND COMMUNITY. WE WILL ACCOMPLISH OUR MISSION BY PROVIDING SAFE, RELIABLE AND ENVIRONMENTALLY RESPONSIBLE POWER AND OTHER SERVICES, EFFICIENTLY AND AT A COMPETITIVE PRICE TO BENEFIT MEMBERS AND IMPORVE THE QUALITY OF LIFE IN THE AREAS THAT WE SERVE. 0 0 SALE ELECTRICITY - TO PROVIDE ELECTRIC ENERGY AND SERVICES TO APPROXIMATELY 4,691 METERS. 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 0 1 24 0 1 28 1 0 0 0 0 0 12565108 570182 0 X 9 9 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X X TAMI WEILBRENNER 6416642277 22458 HIGHWAY 2 BLOOMFIELD IA 52537 DEAN BLACK 1.00 X 2470 0 0 JOY EVANS 2.00 X 3530 0 0 DON WHITE 3.00 X 3530 0 0 FRED ZEITLER 1.00 X 2745 0 0 TRENT GREGORY 1.00 X 2165 0 0 DAVID HOPKINS 1.00 X 2005 0 0 ALAN JANSSEN 4.00 X 3165 0 0 PAUL WELLS 4.00 X 3750 0 0 JOHN PROBASCO 1.00 X 1800 0 0 DARRELL DOWNING 2.00 X 960 0 0 DAVE YAHNKE 2.00 X 1120 0 0 MARK AEILTS 50.00 X 153076 0 50753 TAMARA WEILBRENNER 45.00 X 68932 0 16866 249248 0 67619 1 0 1 0 ASPLUNDH TREE EXPERT CO 1700 SOLUTIONS CENTER CHICAGO IL 60677 RIGHT OF WAY MAINTENANCE 1188345 RESCO PO BOX 684141 MILWAUKEE WI 53268 MATERIAL SUPPLIER 384684 ALTEC INDUSTRIES PO BOX 11407 BIRMINGAM AL 35246 NEW BASKET TRUCK/EQUIPMENT 233400 FLETCHER-REINHARD PO BOX 500653 ST LOUIS MO 63150 MATERIAL SUPPLIER 162356 IOWA ASSOC OF ELECTRIC CO-OPS 825 DOUGLAS SUITE 48 DES MONIES IA 50322 DUES/EDUCATION/SAFETY TRAINING 118507 5 SALE OF POWER 221000 12451119 12451119 12451119 98554 98554 33 -33 -33 -33 23842 21231 2611 2611 CAPITAL CREDITS 900099 471661 471661 471661 13023912 12925391 0 98521 316867 1063467 907436 COST OF POWER 6664564 DISTRIBUTION EXPENSE - 626913 ADMINISTRATIVE & GENERA 616139 DISTRIBUTION EXPENSE - 511836 CONSUMER ACCOUNT EXPENS 284294 145262 11136778 969773 453073 1349533 1387307 362899 764541 281086 278256 405933 801323 36464427 6555926 28557286 29908501 57532 57532 4613455 4951556 18130 18130 35335 52275 36650962 38672494 1154138 1323442 23062025 22994733 217687 206391 24433850 24524566 X 0 0 0 0 12217112 14147928 12217112 14147928 36650962 38672494 X 1887134 43682 X X 0 1 1 X 0 161644 161644 5574388 287375 5287013 2424808 1093414 1331394 28303587 5175137 23128450 29908501 NEMO CAPITAL CREDITS 3912705 C CFC CAPITAL CREDITS 77354 C CITIZENS MUTUAL TELEPHONE 43464 C NRTC CAPITAL CREDIT 3782 C RURAL ELECTRIC SUPPLY 63605 C CAPITAL TERM CERTIFICATES 750205 C MEMBERSHIPS AND OTHER INVESTMENTS 100441 C 4951556 CONSUMER DEPOSITS 129043 PATRONAGE CAPITAL PAYABLE 2786 DEFERRED CREDITS 74562 206391 13023912 11136778 1887134 43682 43682 1930816 13023912 0 13023912 0 13023912 11136778 0 11136778 0 11136778 DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: THE COOPERATIVE IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(12) OF THE INTERNAL REVENUE CODE. ACCORDINGLY, NO PROVISION FOR INCOME TAXES HAS BEEN RECORDED AT DECEMBER 31, 2010 AND 2009. 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, 2010 AND 2009. 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 -272,978. CITY OF BLOOMFIELD CAPITAL CREDITS 18,440. ESTATE PAYOUTS 8,729. EDUCATION/ECONOMIC DEVELOPMENT EXPENSES -13,160. UNCLAIMED PROPERTY 2,651. USDA GRANT WRITE-OFF 300,000. X X X 0 0 0 MARK AEILTS 136662 0 0 0 16414 0 0 0 50753 0 203829 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 COOPERATIVE AND HAS VOTING RIGHTS AT THE ANNUAL MEETING. EACH MEMBER HAS 1 VOTE. FORM 990, PART VI, SECTION A, LINE 7B CHANGES TO THE ARTICLES OF INCORPORATION MUST BE VOTED ON BY THE MEMBERS, ELECTING DIRECTORS IS VOTED ON BY THE MEMBERS, AND SELLING THE COOPERATIVE HAS TO BE VOTED ON BY THE MEMBERS. FORM 990, PART VI, SECTION B, LINE 11 THE MANAGER WILL REVIEW THE 990 BEFORE IT IS FILED, HE WILL THEN CONDUCT A REVIEW WITH THE BOARD. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST QUESTIONNAIRE IS COMPLETED BY ALL EMPLOYEES AND DIRECTORS BEFORE THEY ARE ELECTED OR HIRED BY THE COOPERATIVE TO MAKE SURE THERE ARE NO CONFLICTS. THE POLICY IS THEN MONITORED ON AN ANNUAL BASIS AND ALL DIRECTORS AND MANAGEMENT ARE REQUIRED TO COMPLETE A NEW CONFLICT QUESTIONNAIRE ANNUALLY. THE MANGER IS RESPONSIBLE FOR CONDUCTING THE REVIEWS. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD EVALUATES THE CEO PERFORMANCE AND LOOKS AT INDUSTRY STANDARDS FOR OTHER COOPERATIVES OF LIKE SIZE FOR A COMPARABLE SALARY RANGE. THE CFO IS EVALUATED ON AN ANNUAL BASIS USING THE NRECA ANNUAL COMPENSATION STUDY AS A GUIDELINE. THE CEO IS RESPONSIBLE FOR GIVING PAY ADJUSTMENTS, BUT THE BOARD APPROVES A SALARY RANGE. 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 -272,978. CITY OF BLOOMFIELD CAPITAL CREDITS 18,440. ESTATE PAYOUTS 8,729. EDUCATION/ECONOMIC DEVELOPMENT EXPENSES -13,160. UNCLAIMED PROPERTY 2,651. USDA GRANT WRITE-OFF 300,000. TOTAL TO FORM 990, PART XI, LINE 5: 43,682. FORM 990, PART XI, 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. THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.