LAKE REGION ELECTRIC COOPERATIVE: Form 990, tax year 2010

View the entire original 990 at ProPublica ↗

Organization: LAKE REGION ELECTRIC COOPERATIVE (EIN 41-0363020)
Tax period: 2010-01-01 to 2010-12-31
Filed: 2011-08-09
IRS object ID: 201112219349301411
Schema version: 2010v3.4
Source: Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header
Form 990
Schedule D
Schedule J
Schedule L
Schedule O

Return header ReturnHeader

Field	Value	IRS element (for citing)
Timestamp	2011-08-09T11:16:24-05:00	Timestamp
Tax Period End Date	2010-12-31	TaxPeriodEndDate

Preparer Firm PreparerFirm

Preparer Firm Business Name PreparerFirmBusinessName

Field	Value	IRS element (for citing)
Business Name Line1	LARSONALLEN LLP	BusinessNameLine1

Preparer Firm US Address PreparerFirmUSAddress

Field	Value	IRS element (for citing)
Address Line1	PO BOX 217	AddressLine1
City	AUSTIN	City
State	MN	State
ZIP Code	55912	ZIPCode

Field	Value	IRS element (for citing)
Return Type	990	ReturnType
Tax Period Begin Date	2010-01-01	TaxPeriodBeginDate

Filer Filer

Field	Value	IRS element (for citing)
EIN	410363020	EIN

Name Name

Field	Value	IRS element (for citing)
Business Name Line1	LAKE REGION ELECTRIC COOPERATIVE	BusinessNameLine1

Field	Value	IRS element (for citing)
Name Control	LAKE	NameControl
Phone	2188631171	Phone

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	PO BOX 643	AddressLine1
City	PELICAN RAPIDS	City
State	MN	State
ZIP Code	565720643	ZIPCode

Officer Officer

Field	Value	IRS element (for citing)
Name	TIM THOMPSON	Name
Title	CEO	Title
Phone	2188631171	Phone
Date Signed	2011-07-28	DateSigned
Authorize Third Party	1	AuthorizeThirdParty

Preparer Preparer

Field	Value	IRS element (for citing)
Name	DEAN ROHNE	Name
Phone	5074347000	Phone

Field	Value	IRS element (for citing)
Tax Year	2010	TaxYear
Build TS	2016-02-24 21:20:13Z	BuildTS

Form 990 IRS990

Field	Value	IRS element (for citing)
Name Of Principal Officer Person	TIM THOMPSON	NameOfPrincipalOfficerPerson

Address Principal Officer US AddressPrincipalOfficerUS

Field	Value	IRS element (for citing)
Address Line1	PO BOX 643	AddressLine1
City	PELICAN RAPIDS	City
State	MN	State
ZIP Code	565720643	ZIPCode

Field	Value	IRS element (for citing)
Gross Receipts	43287774	GrossReceipts
Group Return For Affiliates	0	GroupReturnForAffiliates
Organization501c	X	Organization501c
Web Site	WWW.LREC.COOP	WebSite
Type Of Organization Corporation	X	TypeOfOrganizationCorporation
Year Formation	1937	YearFormation
State Legal Domicile	MN	StateLegalDomicile
Activity Or Mission Description	TO PROVIDE OUR MEMBERS WITH SAFE, RELIABLE, AND COST EFFECTIVE ELECTRIC AND RELATED SERVICES.	ActivityOrMissionDescription
Nbr Voting Members Governing Body	9	NbrVotingMembersGoverningBody
Nbr Independent Voting Members	8	NbrIndependentVotingMembers
Total Nbr Employees	85	TotalNbrEmployees
Total Nbr Volunteers	0	TotalNbrVolunteers
Total Gross UBI	0	TotalGrossUBI
Net Unrelated Business Txbl Income	0	NetUnrelatedBusinessTxblIncome
Contributions Grants Prior Year	0	ContributionsGrantsPriorYear
Contributions Grants Current Year	0	ContributionsGrantsCurrentYear
Program Service Revenue Prior Year	43939576	ProgramServiceRevenuePriorYear
Program Service Revenue CY	41491121	ProgramServiceRevenueCY
Investment Income Prior Year	363590	InvestmentIncomePriorYear
Investment Income Current Year	581104	InvestmentIncomeCurrentYear
Other Revenue Prior Year	7274	OtherRevenuePriorYear
Other Revenue Current Year	1215381	OtherRevenueCurrentYear
Total Revenue Prior Year	44310440	TotalRevenuePriorYear
Total Revenue Current Year	43287606	TotalRevenueCurrentYear
Grants And Similar Amnts Prior Year	0	GrantsAndSimilarAmntsPriorYear
Grants And Similar Amnts CY	0	GrantsAndSimilarAmntsCY
Benefits Paid To Members Prior Year	0	BenefitsPaidToMembersPriorYear
Benefits Paid To Members CY	0	BenefitsPaidToMembersCY
Salaries Etc Prior Year	7392461	SalariesEtcPriorYear
Salaries Etc Current Year	7847464	SalariesEtcCurrentYear
Total Prof Fundrsng Exp Prior Year	0	TotalProfFundrsngExpPriorYear
Total Prof Fundrsng Exp CY	0	TotalProfFundrsngExpCY
Total Fundrsng Exp Current Year	0	TotalFundrsngExpCurrentYear
Other Expense Prior Year	32261882	OtherExpensePriorYear
Other Expenses Current Year	33436547	OtherExpensesCurrentYear
Total Expenses Prior Year	39654343	TotalExpensesPriorYear
Total Expenses Current Year	41284011	TotalExpensesCurrentYear
Revenues Less Expenses Prior Year	4656097	RevenuesLessExpensesPriorYear
Revenues Less Expenses CY	2003595	RevenuesLessExpensesCY
Total Assets BOY	89745802	TotalAssetsBOY
Total Assets EOY	92869786	TotalAssetsEOY
Total Liabilities BOY	54261125	TotalLiabilitiesBOY
Total Liabilities EOY	56079259	TotalLiabilitiesEOY
Net Assets Or Fund Balances BOY	35484677	NetAssetsOrFundBalancesBOY
Net Assets Or Fund Balances EOY	36790527	NetAssetsOrFundBalancesEOY
Info In Schedule O Part III	X	InfoInScheduleOPartIII
Mission Description	TO PROVIDE OUR MEMBERS WITH SAFE, RELIABLE, AND COST EFFECTIVE ELECTRIC AND RELATED SERVICES.	MissionDescription
Significant New Program Services	1	SignificantNewProgramServices
Significant Change	0	SignificantChange
Description	DISTRIBUTES ELECTRICITY TO 26,334 MEMBERS IN ITS 5,651 MILES OF LINES WITHIN THE SERVICE TERRITORY.	Description

Activity2 Activity2

Field	Value	IRS element (for citing)
Description	INSTALLATION OF GEOTHERMAL LOOPS FOR CONSUMERS WITHIN THE SERVICE TERRITORY.	Description

Field	Value	IRS element (for citing)
Described In501 C3	0	DescribedIn501C3
Schedule B Required	0	ScheduleBRequired
Political Activities	0	PoliticalActivities
Donor Advised Funds	0	DonorAdvisedFunds
Conservation Easements	0	ConservationEasements
Collections Of Art	0	CollectionsOfArt
Credit Counseling	0	CreditCounseling
Term Or Permanent Endowments	0	TermOrPermanentEndowments
Report Land Bldg Equip	1	ReportLandBldgEquip
Report Invest Oth Securities	0	ReportInvestOthSecurities
Report Prog Rel Invest	1	ReportProgRelInvest
Report Other Assets	0	ReportOtherAssets
Report Other Liabilities	1	ReportOtherLiabilities
Report Fin48 Footnote	1	ReportFin48Footnote
Independent Audit Financial Stmt	1	IndependentAuditFinancialStmt
Consolidated Audit Financial Stmt	0	ConsolidatedAuditFinancialStmt
School	0	School
Foreign Office	0	ForeignOffice
Foreign Activities	0	ForeignActivities
More Than5000 K To Organizations	0	MoreThan5000KToOrganizations
More Than5000 K To Individuals	0	MoreThan5000KToIndividuals
Professional Fundraising	0	ProfessionalFundraising
Fundraising Activities	0	FundraisingActivities
Gaming	0	Gaming
Hospital	0	Hospital
Grants To Organizations	0	GrantsToOrganizations
Grants To Individuals	0	GrantsToIndividuals
Schedule J Required	1	ScheduleJRequired
Tax Exempt Bonds	0	TaxExemptBonds
Loan To Officer Or DQP	0	LoanToOfficerOrDQP
Grant To Related Person	0	GrantToRelatedPerson
Bsnss Rltnshp With Organization	0	BsnssRltnshpWithOrganization
Bsnss Rltnshp Thru Family Member	0	BsnssRltnshpThruFamilyMember
Officer Entity With Bsnss Rltnshp	1	OfficerEntityWithBsnssRltnshp
Deductible Non Cash Contributions	0	DeductibleNonCashContributions
Deductible Contributions Of Art	0	DeductibleContributionsOfArt
Terminated	0	Terminated
Partial Liquidation	0	PartialLiquidation
Disregarded Entity	0	DisregardedEntity
Related Entity	0	RelatedEntity
Related Org Controlled Entity	0	RelatedOrgControlledEntity
Transaction Related Entity	0	TransactionRelatedEntity
Activities Conducted Partnership	0	ActivitiesConductedPartnership
Schedule O Required	1	ScheduleORequired
Number Forms Transmitted With1096	195	NumberFormsTransmittedWith1096
Number W2 G Included	0	NumberW2GIncluded
Compliance With Backup Witholding	1	ComplianceWithBackupWitholding
Number Of Employees	85	NumberOfEmployees
Employment Tax Returns Filed	1	EmploymentTaxReturnsFiled
Unrelated Business Income	0	UnrelatedBusinessIncome
Foreign Financial Account	0	ForeignFinancialAccount
Prohibited Tax Shelter Trans	0	ProhibitedTaxShelterTrans
Taxable Party Notification	0	TaxablePartyNotification
Non Deductible Contributions	0	NonDeductibleContributions
Gross Income From Members	41776490	GrossIncomeFromMembers
Gross Income Other Sources	1604955	GrossIncomeOtherSources
Indoor Tanning Services	0	IndoorTanningServices
Info In Schedule O Part VI	X	InfoInScheduleOPartVI
Nbr Voting Governing Body Members	9	NbrVotingGoverningBodyMembers
Number Independent Voting Members	8	NumberIndependentVotingMembers
Family Or Business Relationship	0	FamilyOrBusinessRelationship
Delegation Of Management Duties	0	DelegationOfManagementDuties
Changes To Organizing Docs	0	ChangesToOrganizingDocs
Material Diversion Or Misuse	0	MaterialDiversionOrMisuse
Members Or Stockholders	1	MembersOrStockholders
Election Of Board Members	1	ElectionOfBoardMembers
Decisions Subject To Approval	1	DecisionsSubjectToApproval
Minutes Of Governing Body	1	MinutesOfGoverningBody
Minutes Of Committees	0	MinutesOfCommittees
Officer Mailing Address	0	OfficerMailingAddress
Local Chapters	0	LocalChapters
Form990 Provided To Governing Body	1	Form990ProvidedToGoverningBody
Conflict Of Interest Policy	1	ConflictOfInterestPolicy
Annual Disclosure Covered Persons	1	AnnualDisclosureCoveredPersons
Regular Monitoring Enforcement	1	RegularMonitoringEnforcement
Whistleblower Policy	1	WhistleblowerPolicy
Document Retention Policy	1	DocumentRetentionPolicy
Compensation Process CEO	1	CompensationProcessCEO
Compensation Process Other	1	CompensationProcessOther
Investment In Joint Venture	0	InvestmentInJointVenture
Other Website	X	OtherWebsite
Upon Request	X	UponRequest

The Books Are In Care Of TheBooksAreInCareOf

Name Business NameBusiness

Field	Value	IRS element (for citing)
Business Name Line1	KAY PERRIN	BusinessNameLine1

Field	Value	IRS element (for citing)
Telephone Number	2188631171	TelephoneNumber

Address US AddressUS

Field	Value	IRS element (for citing)
Address Line1	1401 S BROADWAY	AddressLine1
City	PELICAN RAPIDS	City
State	MN	State
ZIP Code	56572	ZIPCode

Form990 Part VII Section A Form990PartVIISectionA (14 entries)

TitleTitle	Average Hours Per WeekAverageHoursPerWeek	Individual Trustee Or DirectorIndividualTrusteeOrDirector	OfficerOfficer	Reportable Comp From OrganizationReportableCompFromOrganization	Reportable Comp From Related OrgsReportableCompFromRelatedOrgs	Other CompensationOtherCompensation	Highest Compensated EmployeeHighestCompensatedEmployee
KENNETH HENDRICKX
CHAIR	9.00	X	X	14645	0	0
JACK LACEY
VICE CHAIR	6.50	X	X	10595	0	0
CHARLES KVARE
SECRETARY	5.00	X	X	12035	0	0
JOYCE VALLEY
TREASURER	5.50	X	X	11185	0	0
DENNIS MATHIASON
DIRECTOR	4.50	X		10115	0	0
ROBERT SHAW
DIRECTOR	7.50	X		11475	0	0
SID WISNESS
DIRECTOR	6.00	X		9905	0	0
EARL RYDELL
DIRECTOR	14.00	X		11115	0	0
DENNIS TOLLEFSON
DIRECTOR	6.50	X		10315	0	0
TIM THOMPSON
CEO	45.00		X	187508	0	74756
RANDALL HANSEN
CFO	42.00		X	107369	0	41857
DANIEL HUSTED
VP-CUST SERVICE & COMMUNICATIONS	42.00			104180	0	47746	X
EDWARD JENSON
VP-ENGINEERING & OPERATIONS	42.00			121567	0	54299	X
JOSEPH BELZ
OPERATIONS MANAGER	44.00			112368	0	48600	X

Field	Value	IRS element (for citing)
Total Reportable Comp From Org	734377	TotalReportableCompFromOrg
Total Reportable Comp Frm Rltd Orgs	0	TotalReportableCompFrmRltdOrgs
Total Other Compensation	267258	TotalOtherCompensation
Number Individuals GT100 K	5	NumberIndividualsGT100K
Formers Listed	0	FormersListed
Total Comp GT150 K	1	TotalCompGT150K
Compensation From Other Sources	0	CompensationFromOtherSources

Contractor Compensation ContractorCompensation (4 entries)

Address Line1AddressOfContractor/AddressUS/AddressLine1	CityAddressOfContractor/AddressUS/City	StateAddressOfContractor/AddressUS/State	ZIP CodeAddressOfContractor/AddressUS/ZIPCode	Description Of ServicesDescriptionOfServices	CompensationCompensation
CARR'S TREE SERVICE INC
PO BOX 250	OTTERTAIL	MN	56571	TREE CLEARING	1822288
OSMOSE UTILITIES SERVICES INC
980 ELLICOT STREET	BUFFALO	NY	142092323	UTILITY POLE TREATMENT	168343
ARVIG ENTERPRISES INC
150 SECOND STREET SW	PERHAM	MN	56573	ROAD BORING	143015
RIPLEY'S INC
36322 US HWY 59	ERHARD	MN	56534	ROAD BORING	142028

Field	Value	IRS element (for citing)
Number Of Contractors GT100 K	4	NumberOfContractorsGT100K

Program Service Revenue ProgramServiceRevenue

Field	Value	IRS element (for citing)
Description	SALE OF POWER	Description
Business Code	221000	BusinessCode
Total Revenue Column	41491121	TotalRevenueColumn
Related Or Exempt Function Income	41491121	RelatedOrExemptFunctionIncome

Field	Value	IRS element (for citing)
Total Program Service Revenue	41491121	TotalProgramServiceRevenue

Investment Income InvestmentIncome

Field	Value	IRS element (for citing)
Total Revenue Column	538372	TotalRevenueColumn
Exclusion	$538,372	ExclusionAmount

Gross Amount Sales Assets GrossAmountSalesAssets

Field	Value	IRS element (for citing)
Other	42900	Other

Less Cost Oth Basis Sales Expenses LessCostOthBasisSalesExpenses

Field	Value	IRS element (for citing)
Other	168	Other

Gain Or Loss GainOrLoss

Field	Value	IRS element (for citing)
Other	42732	Other

Net Gain Or Loss Investments NetGainOrLossInvestments

Field	Value	IRS element (for citing)
Total Revenue Column	42732	TotalRevenueColumn
Exclusion	$42,732	ExclusionAmount

Field	Value	IRS element (for citing)
Gross Sales Of Inventory	7577	GrossSalesOfInventory

Net Income Or Loss NetIncomeOrLoss

Field	Value	IRS element (for citing)
Total Revenue Column	7577	TotalRevenueColumn
Related Or Exempt Function Income	7577	RelatedOrExemptFunctionIncome

Other Revenue Misc OtherRevenueMisc (2 entries)

DescriptionDescription	Business CodeBusinessCode	Total Revenue ColumnTotalRevenueColumn	Related Or Exempt Function IncomeRelatedOrExemptFunctionIncome
CAPITAL CREDITS	900099	1048111	1048111
MISCELLANEOUS	900099	159693	159693

Field	Value	IRS element (for citing)
Total Other Revenue	1207804	TotalOtherRevenue

Total Revenue TotalRevenue

Field	Value	IRS element (for citing)
Total Revenue Column	43287606	TotalRevenueColumn
Related Or Exempt Function Income	42706502	RelatedOrExemptFunctionIncome
Unrelated Business Revenue	0	UnrelatedBusinessRevenue
Exclusion	$581,104	ExclusionAmount

Comp Current Officers Directors CompCurrentOfficersDirectors

Field	Value	IRS element (for citing)
Total	512875	Total

Other Salaries And Wages OtherSalariesAndWages

Field	Value	IRS element (for citing)
Total	5456464	Total

Pension Plan Contributions PensionPlanContributions

Field	Value	IRS element (for citing)
Total	1444447	Total

Payroll Taxes PayrollTaxes

Field	Value	IRS element (for citing)
Total	433678	Total

Interest Interest

Field	Value	IRS element (for citing)
Total	2827281	Total

Depreciation Depletion DepreciationDepletion

Field	Value	IRS element (for citing)
Total	3252122	Total

Other Expenses OtherExpenses (5 entries)

DescriptionDescription	TotalTotal
COST OF POWER	24066669
DIST EXP - OPER/MAINT	6511453
ADMIN & GENERAL EXPENSE	2469133
CONSUMER ACCT/SERVICE	1887550
TAXES	269803

All Other Expenses AllOtherExpenses

Field	Value	IRS element (for citing)
Total	-7847464	Total

Total Functional Expenses TotalFunctionalExpenses

Field	Value	IRS element (for citing)
Total	41284011	Total

Savings And Temp Cash Investments SavingsAndTempCashInvestments

Field	Value	IRS element (for citing)
BOY	2896859	BOY
EOY	2242487	EOY

Accounts Receivable AccountsReceivable

Field	Value	IRS element (for citing)
BOY	5183280	BOY
EOY	5780796	EOY

Inventories For Sale Or Use InventoriesForSaleOrUse

Field	Value	IRS element (for citing)
BOY	1127178	BOY
EOY	1202102	EOY

Prepaid Expenses Deferred Charges PrepaidExpensesDeferredCharges

Field	Value	IRS element (for citing)
BOY	107061	BOY
EOY	168561	EOY

Field	Value	IRS element (for citing)
Land Buildings Equipment Basis	103316587	LandBuildingsEquipmentBasis
Land Bldg Equipment Accum Deprec	33656066	LandBldgEquipmentAccumDeprec

Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet

Field	Value	IRS element (for citing)
BOY	67510716	BOY
EOY	69660521	EOY

Investments Pub Traded Securities InvestmentsPubTradedSecurities

Field	Value	IRS element (for citing)
BOY	109909	BOY
EOY	118753	EOY

Investments Other Securities InvestmentsOtherSecurities

Field	Value	IRS element (for citing)
BOY	92623	BOY

Investments Program Related InvestmentsProgramRelated

Field	Value	IRS element (for citing)
BOY	12718176	BOY
EOY	13505543	EOY

Intangible Assets IntangibleAssets

Field	Value	IRS element (for citing)
EOY	2107	EOY

Other Assets Total OtherAssetsTotal

Field	Value	IRS element (for citing)
BOY	0	BOY
EOY	188916	EOY

Total Assets TotalAssets

Field	Value	IRS element (for citing)
BOY	89745802	BOY
EOY	92869786	EOY

Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses

Field	Value	IRS element (for citing)
BOY	5973090	BOY
EOY	5985886	EOY

Deferred Revenue DeferredRevenue

Field	Value	IRS element (for citing)
BOY	320104	BOY
EOY	267988	EOY

Mort Notes Pybl Secured Invest Prop MortNotesPyblSecuredInvestProp

Field	Value	IRS element (for citing)
BOY	47605265	BOY
EOY	49352187	EOY

Other Liabilities OtherLiabilities

Field	Value	IRS element (for citing)
BOY	362666	BOY
EOY	473198	EOY

Total Liabilities TotalLiabilities

Field	Value	IRS element (for citing)
BOY	54261125	BOY
EOY	56079259	EOY

Field	Value	IRS element (for citing)
Do Not Follow SFAS117	X	DoNotFollowSFAS117

Cap Stck Trst Prin Current Funds CapStckTrstPrinCurrentFunds

Field	Value	IRS element (for citing)
BOY	0	BOY
EOY	0	EOY

Paid In Cap Srpls Land Bldg Eqp Fund PaidInCapSrplsLandBldgEqpFund

Field	Value	IRS element (for citing)
BOY	0	BOY
EOY	0	EOY

Retained Earnings Endowment Etc RetainedEarningsEndowmentEtc

Field	Value	IRS element (for citing)
BOY	35484677	BOY
EOY	36790527	EOY

Total Net Assets Fund Balances TotalNetAssetsFundBalances

Field	Value	IRS element (for citing)
BOY	35484677	BOY
EOY	36790527	EOY

Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances

Field	Value	IRS element (for citing)
BOY	89745802	BOY
EOY	92869786	EOY

Field	Value	IRS element (for citing)
Info In Schedule O Part XI	X	InfoInScheduleOPartXI
Reconcilation Revenue Expenses	2003595	ReconcilationRevenueExpenses
Reconcilation Other Changes	-697745	ReconcilationOtherChanges
Info In Schedule O Part XII	X	InfoInScheduleOPartXII
Method Of Accounting Accrual	X	MethodOfAccountingAccrual
Accountant Compile Or Review	0	AccountantCompileOrReview
FS Audited	1	FSAudited
Audit Committee	1	AuditCommittee
Financial Statement Separate	X	FinancialStatementSeparate
Federal Grant Audit Required	0	FederalGrantAuditRequired

Schedule D IRS990ScheduleD

Land Land

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	460729	OtherCostOrOtherBasis
Book Value	460729	BookValue

Buildings Buildings

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	8326746	OtherCostOrOtherBasis
Depreciation	2310172	Depreciation
Book Value	6016574	BookValue

Equipment Equipment

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	94294758	OtherCostOrOtherBasis
Depreciation	31345894	Depreciation
Book Value	62948864	BookValue

Other Land Buildings OtherLandBuildings

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	234354	OtherCostOrOtherBasis
Book Value	234354	BookValue

Field	Value	IRS element (for citing)
Total Of Book Value Land Buildings	69660521	TotalOfBookValueLandBuildings

Investments Program Related InvestmentsProgramRelated (6 entries)

DescriptionDescription	Book ValueBookValue	Method Of ValuationMethodOfValuation
GRE - CAP CREDITS	11000443	C
NRUCFC - CAP CREDITS	413192	C
NRUCFC - CAP TERM CERTS	1056913	C
NRUCFC - MEMBER CAP SECS	600000	C
FREIC	131936	C
OTHER INVESTMENTS	303059	C

Field	Value	IRS element (for citing)
Total Of Book Value Program Related	13505543	TotalOfBookValueProgramRelated

Other Liabilities OtherLiabilities (2 entries)

DescriptionDescription	AmountAmount
CONSUMER DEPOSITS	$354,445
ACCUMULATED PROVISION FOR PENSION & BENEFITS	$118,753

Field	Value	IRS element (for citing)
Total Of Amounts	473198	TotalOfAmounts
Total Revenue	43287606	TotalRevenue
Total Expenses	41284011	TotalExpenses
Excess Or Deficit For Year	2003595	ExcessOrDeficitForYear
Other	-$697,745	OtherAmount
Total Adjustments	-697745	TotalAdjustments
Excess Or Deficit Per FS	1305850	ExcessOrDeficitPerFS
Tot Revenue Etc Audited Fincl Stmt	43287606	TotRevenueEtcAuditedFinclStmt
Revenue Not Rptd F990	0	RevenueNotRptdF990
Revenue Subtotal	43287606	RevenueSubtotal
Revenue Not Rptd On Fin Stmt	0	RevenueNotRptdOnFinStmt
Total Revenue Per Form990	43287606	TotalRevenuePerForm990
Tot Expenses Etc Audited Fincl Stmt	41284011	TotExpensesEtcAuditedFinclStmt
Expenses Not Rptd F990	0	ExpensesNotRptdF990
Expenses Subtotal	41284011	ExpensesSubtotal
Expenses Not Rptd On Fin Stmt	0	ExpensesNotRptdOnFinStmt
Total Expenses Per Form990	41284011	TotalExpensesPerForm990

Form990 Schedule D Part XIV Form990ScheduleDPartXIV (2 entries)

IdentifierIdentifier	Return ReferenceReturnReference	ExplanationExplanation
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 THE IMPLEMENTATION, THE COOPERATIVE EVALUATED ITS TAX POSITIONS AND DETERMINED THAT IT HAS NO UNCERTAIN TAX POSITIONS AS OF DECEMBER 31, 2010. WITH FEW EXCEPTIONS, THE COOPERATIVE IS NO LONGER SUBJECT TO FEDERAL, STATE, OR LOCAL INCOME TAX EXAMINATIONS BY TAX AUTHORITIES FOR YEARS BEFORE 2007.
PART XI, LINE 8 - OTHER ADJUSTMENTS:		RETIREMENT OF CAPITAL CREDITS $-1,026,274 -1,026,274. CHANGES IN OTHER EQUITIES $328,269 328,269. CHANGE IN MEMBERSHIP $260 260.

Schedule J IRS990ScheduleJ

Field	Value	IRS element (for citing)
Written Employment Contract	X	WrittenEmploymentContract
Compensation Survey	X	CompensationSurvey
Board Or Committee Approval	X	BoardOrCommitteeApproval
Severance Payment	0	SeverancePayment
Supplemental Nonqual Retire Plan	0	SupplementalNonqualRetirePlan
Equity Based Comp Arrangement	0	EquityBasedCompArrangement

Form990 Schedule J Part II Form990ScheduleJPartII (4 entries)

Base Compensation Filing OrgBaseCompensationFilingOrg	Comp Based On Related OrgsCompBasedOnRelatedOrgs	Bonus Filing OrgBonusFilingOrg	Bonus Related OrgsBonusRelatedOrgs	Other Compensation Filing OrgOtherCompensationFilingOrg	Other Compensation Related OrgsOtherCompensationRelatedOrgs	Deferred Comp Filing OrgDeferredCompFilingOrg	Deferred Comp Related OrgsDeferredCompRelatedOrgs	Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrg	Nontaxable Benefits Related OrgsNontaxableBenefitsRelatedOrgs	Total Compensation Filing OrgTotalCompensationFilingOrg	Total Compensation Related OrgsTotalCompensationRelatedOrgs	Comp Report Prior990 Filing OrgCompReportPrior990FilingOrg	Comp Report Prior990 Related OrgsCompReportPrior990RelatedOrgs
TIM THOMPSON
164501	0	15000	0	8007	0	58921	0	15835	0	262264	0	0	0
DANIEL HUSTED
93760	0	5000	0	5420	0	29026	0	18720	0	151926	0	0	0
EDWARD JENSON
109097	0	5000	0	7470	0	36147	0	18152	0	175866	0	0	0
JOSEPH BELZ
101471	0	5500	0	5397	0	41052	0	7548	0	160968	0	0	0

Schedule L IRS990ScheduleL

Form990 Schedule L Part IV Form990ScheduleLPartIV (2 entries)

RelationshipRelationship	Amount Of TransactionAmountOfTransaction	Description Of TransactionDescriptionOfTransaction	Sharing Of RevenuesSharingOfRevenues
JACK LACEY
SEE BELOW	24120531	SEE BELOW	0
TIM THOMPSON
SEE BELOW	1442435	SEE BELOW	0

Form990 Schedule L Part V Form990ScheduleLPartV

Field	Value	IRS element (for citing)
Identifier	SCH L, PART IV, BUSINESS TRANSACTIONS INVOLVING INTERESTED PERSONS:	Identifier
Explanation	(A) NAME OF PERSON: JACK LACEY(B) RELATIONSHIP BETWEEN INTERESTED PERSON AND ORGANIZATION:SHARED BOARD MEMBER OF LREC AND GREAT RIVER ENERGY(D) DESCRIPTION OF TRANSACTION: GREAT RIVER ENERGY IS A NOT-FOR-PROFIT ELECTRIC COOPERATIVE POWER SUPPLIER. LREC PURCHASES POWER FROM GREAT RIVER ENERGY.(A) NAME OF PERSON: TIM THOMPSON(B) RELATIONSHIP BETWEEN INTERESTED PERSON AND ORGANIZATION:CEO OF LREC AND BOARD MEMBER OF RESCO(D) DESCRIPTION OF TRANSACTION: RESCO IS A MAJOR SUPPLIER TO THEORGANIZATION OF METERS, TRANSFORMERS, AND LINE MATERIAL.	Explanation

Schedule O IRS990ScheduleO

General Explanation GeneralExplanation (12 entries)

IdentifierIdentifier	Return ReferenceReturnReference	ExplanationExplanation
NEW PROGRAM SERVICES	FORM 990, PART III, LINE 2	INSTALLATION OF GEOTHERMAL HEATING SYSTEMS.
FORM 990, PART VI, SECTION A, LINE 6		ONE CLASS OF MEMBERS AND EACH MEMBER RECEIVES ONE VOTE, EVEN IF THEY HAVE MULTIPLE ELECTRICAL CONNECTIONS.
FORM 990, PART VI, SECTION A, LINE 7A		THE MEMBERS OF THE ORGANIZATION ELECT THE MEMBERS OF THE GOVERNING BODY. ONE CLASS OF MEMBERS AND EACH MEMBER IS ENTITLED TO ONE VOTE. HUSBAND AND WIFE ONLY GET ONE VOTE FOR THEIR JOINT MEMBERSHIP. MEMBERS CAN ONLY VOTE WITHIN THEIR OWN DISTRICT.
FORM 990, PART VI, SECTION A, LINE 7B		THE BYLAWS MUST BE APPROVED BY A MAJORITY VOTE OF THE MEMBERS. THE FOLLOWING ITEMS MUST BE APPROVED BY TWO-THIRDS VOTE OF ITS MEMBERS: 1) SALE, LEASE OR EXCHANGE OF MORE THAN 25% OF ITS PROPERTY, PRIVILEGES, AND FRANCHISES; 2) MERGE OR CONSOLIDATE INTO ANOTHER ENTITY THAT IS NOT A RURAL ELECTRIC COOPERATIVE ASSOCIATION AND 3) DISSOLUTION OF THE COOPERATIVE.
FORM 990, PART VI, SECTION A, LINE 8B		THERE ARE NO COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY.
FORM 990, PART VI, SECTION B, LINE 11		THE CEO AND CFO REVIEW THE 990 PRIOR TO FINALIZING IT. IT IS THEN PRESENTED WITH OTHER BOARD MEETING MATERIALS TO THE BOARD MEMBERS. BOARD MEMBERS WILL THEN APPROVE THE 990 AT THE JULY 2011 BOARD MEETING.
	FORM 990, PART VI, SECTION B, LINE 12C	ANNUALLY, BOARD MEMBERS MUST FILE A STATEMENT LISTING CONFLICTS OF INTEREST THAT THEY MAY HAVE. THE STATEMENTS ARE REVIEWED BY THE BOARD. BOARD MEMBERS WITH CONFLICTS ARE ASKED TO ABSTAIN FROM VOTING ON CONFLICTING ISSUES AND THEY ARE ASKED TO LEAVE THE ROOM.
	FORM 990, PART VI, SECTION B, LINE 15	THE BOARD OF DIRECTORS APPROVES THE CEO'S COMPENSATION. NRECA SALARY SURVEY'S ARE USED AS COMPARABILITY DATA AND WRITTEN MINUTES ARE TAKEN WHEN DETERMINING THE CEO'S COMPENSATION. THE CEO'S COMPENSATION WAS LAST REVIEWED IN DECEMBER 2010. THE BOARD DOES NOT APPROVE SALARIES AND BENEFITS FOR ANY OTHER POSITIONS. THE CEO APPROVES THE COMPENSATION FOR OFFICERS OR KEY EMPLOYEES OF LREC. WAGE RANGES ARE ESTABLISHED USING NRECA SURVEYS, LOCAL MARKET DATA, COST OF LIVING, AND TRENDS IN THE INDUSTRY.
	FORM 990, PART VI, SECTION C, LINE 19	GOVERNING DOCUMENTS, THE CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST.
ALLOCATION OF PAYROLL AND BENEFITS TO LINES 5,7,8,10	990, PART IX, LINE 24F	-$512,875 DIRECTORS, CEO AND CFO COMPENSATION -$5,456,464 W-3 WAGES EXCLUDING CEO AND CFO -$1,444,447 EMPLOYER CONTRIBUTIONS FOR PENSION AND 401K PLANS -$433,678 EMPLOYER PAYROLL TAXES -$7,847,464 TOTAL ALLOCATED COSTS
CHANGES IN NET ASSETS OR FUND BALANCES:	FORM 990, PART XI, LINE 5:	RETIREMENT OF CAPITAL CREDITS $-1,026,274 -1,026,274. CHANGES IN OTHER EQUITIES $328,269 328,269. CHANGE IN MEMBERSHIP $260 260. TOTAL TO FORM 990, PART XI, LINE 5: -697,745.
	990, PART XII, LINE 2C	THE OVERSIGHT OF THE FINANCIAL STATEMENTS AND THE SELECTION OF AN INDEPENDENT ACCOUNTANT TO PERFORM THE AUDIT OF THE FINANCIAL STATEMENTS BY THE BOARD OF DIRECTORS HAS NOT CHANGED.