2011-05-12T08:19:54-05:00 2010-12-31 LARSONALLEN LLP PO BOX 217 AUSTIN MN 55912 990 2010-01-01 370345145 ILLINOIS RURAL ELECTRIC COOPERATIVE ILLI 2172438700 2 SOUTH MAIN STREET WINCHESTER IL 62694 BRUCE GIFFIN 2172438700 2011-05-06 1 DEAN ROHNE 5074347000 2010 2016-02-24 21:20:13Z BRUCE GIFFIN 2 SOUTH MAIN STREET WINCHESTER IL 62694 24976756 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 56 0 0 0 0 0 21475983 22573731 1579814 1902931 305542 449984 23361339 24926646 0 0 0 0 724133 982060 0 0 0 19058454 20385556 19782587 21367616 3578752 3559030 69132537 73083325 44017976 45002007 25114561 28081318 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 161,193,820 KILOWATT HOURS OF ELECTRICITY TO APPROXIMATELY 10,485 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 2,970 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 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 56 1 0 0 0 0 0 22813326 2353443 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 7200 1200 0 F ALAN HEATON 6.00 X 7600 1200 0 JAMES GAY 3.00 X 4800 0 0 RONALD K MYERS 4.50 X 6200 0 0 GARY K CLARK 5.00 X 4600 900 0 KEVIN BRANNAN 9.00 X 6000 1200 0 JULIA EBERLIN 4.00 X 5400 1000 0 JEFFERY HILL 4.00 X 6200 0 0 THOMAS D MEEHAN III 7.00 X 7200 1100 0 ROBERT REED 4.00 X 10800 0 0 JULIE RHOADS 6.00 X 5800 0 0 BRUCE N GIFFIN 40.00 X 230406 0 77877 SEAN MIDDLETON 40.00 X 119296 0 45424 RONALD COULTAS 40.00 X 110512 0 37881 DWIGHT ALA 40.00 X 104367 0 44716 JOE KILLDAY 50.00 X 105499 0 34282 741880 6600 240180 5 0 1 0 FUNK TREE SERVICE RR1 BATCHTOWN IL 62006 TREE TRIMMING 416479 BIGELOW ELECTRIC 1395 OLD ROUTE 36 JACKSONVILLE IL 62650 ELECTRIC WIRING & RELATED & TOWER CLIMBS 305646 2 SALE OF POWER 221000 21759954 21759954 INTERNET REVENUES 517000 643060 643060 OTHER ELECTRIC REVENUE 221000 170717 170717 22573731 451000 451000 1502041 50110 1451931 1451931 1451931 CAPITAL CREDITS 900099 450512 450512 MISCELLANEOUS 900099 -528 -528 449984 24926646 23023715 0 1902931 982060 864894 1622855 COST OF POWER 12909563 DIST EXP - MAINTENANCE 2006644 ADMIN & GENERAL EXP 867727 INTERNET COST OF SALES 709736 CONSUMER ACCT EXPENSE 504004 900133 21367616 243090 369276 1323745 309054 2803616 2296791 1478690 1290799 600870 815072 181806 38764 66184449 13776569 45863499 52407880 1804710 1916808 973364 813442 7943037 7506854 9169 9169 5906941 5309416 69132537 73083325 1805538 1950828 38634058 39341171 629488 3578380 3080520 44017976 45002007 X 0 0 0 0 25114561 28081318 25114561 28081318 69132537 73083325 X 3559030 -592273 X X 0 1 1 X 0 65316 65316 898115 641267 256848 8432476 3029376 5403100 56788542 10105926 46682616 52407880 INVEST. IN PRAIRIE STATE PROJECT 5138770 C PATRONAGE CAPITAL IN ASSOC. ORGS. 1525377 C NRUCFC CAPITAL TERM CERTS 797262 C OTHER INVESTMENTS 45445 C 7506854 UNBILLED REVENUE 2063142 INTEREST RECEIVABLE 19074 DEFERRED DEBITS 3181860 NON-UTILITY PROPERTY 45340 5309416 CONSUMER DEPOSITS 281754 ACCUMULATED PROVISION FOR PENSION & BENEFITS 2223900 DEFERRED CREDITS 574866 3080520 DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: 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. WITH FEW EXCEPTIONS, THE COOPERATIVE IS NO LONGER SUBJECT TO FEDERAL, STATE, OR LOCAL INCOME TAX EXAMINATIONS BY TAX AUTHORITIES FOR YEARS BEFORE 2007. X X 0 0 0 BRUCE N GIFFIN 225914 0 0 0 4492 0 63522 0 14355 0 308283 0 0 0 SEAN MIDDLETON 115285 0 0 0 4011 0 32902 0 12522 0 164720 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 THE COOPERATIVE HAS ONE CLASS OF MEMBERS WHO SHARE EQUAL 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 2010. 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 -159,922. ESTATES RETIRED -89,251. CHANGES IN OTHER COMPREHENSIVE INCOME -343,100. TOTAL TO FORM 990, PART XI, LINE 5: -592,273. 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 2010. 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 N/A C -159922 1448942 1.00000 PRATHER OIL CO PO BOX 113 MEDORA IL 62063 371112402 SALE OF PROPANE IL ILLINOIS RURAL TELECOMMUNICATION CO C 21575 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 1 0 0 0 0 0 1 1 1 1 0 0 ILLINOIS RURAL TELECOMMUNICATION CO P 140103 ACTUAL PAYMENT ILLINOIS RURAL TELECOMMUNICATION CO B 221259 ACTUAL PAYMENT ILLINOIS RURAL TELECOMMUNICATION CO N 192417 ACTUAL PAYMENT ILLINOIS RURAL TELECOMMUNICATION CO G 226386 ACTUAL PAYMENT