2011-05-05T15:09:23-05:00 2010-12-31 LARSONALLEN LLP PO BOX 217 AUSTIN MN 55912 990 2010-01-01 420381704 LINN COUNTY RURAL ELECTRIC COOPERATIVE ASSOCIATION LINN 3193771587 5695 REC DRIVE PO BOX 69 MARION IA 523020069 KIM COLBERG 3193771587 2011-04-25 1 DEAN ROHNE 5074347000 2010 2016-02-24 21:20:13Z KIM COLBERG 5695 REC DRIVE PO BOX 69 MARION IA 523020069 45801278 0 X WWW.LINNCOUNTYREC.COM X 1938 IA PROVIDING ELECTRICAL SERVICE TO THE MEMBERS OF THE COOPERATIVE. 7 7 60 0 8787 332 110047 0 41506258 42892167 299256 341787 2476863 2562899 44392424 45796853 0 0 0 0 347505 354894 0 0 0 40718295 42044371 41065800 42399265 3326624 3397588 88709866 94173321 63376660 66192351 25333206 27980970 PROVIDE ELECTRICAL SERVICE TO THE MEMBERS OF THE COOPERATIVE. 0 0 COOPERATIVE PURCHASED POWER FROM CENTRAL IOWA POWER COOPERATIVE IN 2010 FOR $28,645,825 FOR DISTRIBUTION TO COOPERATIVE MEMBERS. COOPERATIVE DISTRIBUTED PURCHASED POWER TO MEMBERS OVER 2,177 MILES OF DISTRIBUTION LINE. THE COOPERATIVE BILLED ITS MEMBERS' 24,061 SERVICES ON A MONTHLY BASIS. 0 0 0 0 0 0 0 0 1 0 1 0 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 0 1 1 0 0 1 20 0 1 60 1 1 1 0 0 0 0 43054312 2842302 0 X 7 7 0 0 0 0 1 1 1 1 0 0 0 1 1 1 1 1 1 1 1 0 X NICK PATEL 3193771587 5695 REC DRIVE MARION IA 523020069 GARY SCHROPP 3.90 X X 8775 0 0 LISA ROSE 2.80 X X 6075 0 0 ROGER KRUG 3.60 X X 6825 0 0 ROSE RENNEKAMP 5.10 X X 0 0 9100 KENNETH SQUIRES 5.60 X X 13000 0 0 ELMER VANORNY 3.40 X 6825 0 0 DAN WILLE 4.20 X 0 0 9100 KIM R COLBERG 45.70 X 141647 0 28097 NAROTTAM J PATEL 43.40 X 100726 0 24724 283873 0 71021 2 0 1 0 VAN WERT ENTERPRISES PO BOX 141 GRUNDY CENTER IA 50638 METER READING 418053 IES COMMERCIAL INC PO BOX 27 HOLDREGE NE 68949 ELECTRICAL CONTRACTOR 358059 ASPLUNDH PO BOX 640032 PITTSBURGH PA 15264 TREE TRIMMING 347931 POWER SYSTEM ENGINEERING 1532 W BROADWAY SUITE 100 MADISON WI 53713 ENGINEERING SERVICES 192480 GREAT PLAINS LOCATING SERVICES PO BOX 102680 ATLANTA GA 30368 UNDERGROUND LOCATION 171113 7 SALE OF POWER 221000 42892167 42892167 42892167 339712 339712 29 29 29 29 6500 4425 2075 2075 2075 54631 54631 54631 CAPITAL CREDITS 523000 2499452 2499452 INVOLTA, LLC 518210 8787 8787 2508239 45796853 45446250 8787 341816 354894 3306048 2286169 COST OF POWER 28645825 DIST EXP - OPERATIONS 2206905 CONSUMER ACCT EXPENSE 1647525 ADMIN & GENERAL EXPENSE 1533470 DIST EXP - MAINTENANCE 1322369 1096060 42399265 18859 18959 626815 584538 4332688 4385212 1789256 2053149 206365 178152 91753481 21296032 67474898 70457449 856507 1019055 13143378 15127070 261100 349737 88709866 94173321 3544703 3647094 1114495 917166 58152292 60999909 565170 628182 63376660 66192351 X 0 0 0 0 25333206 27980970 25333206 27980970 88709866 94173321 X 3397588 -749824 X X 0 1 1 X 0 340350 340350 4688693 1068684 3620009 4234708 2654733 1579975 82489730 17572615 64917115 70457449 OTHER INVEST IN ASSOC ORGANIZATIONS 641468 C PAT CAP FROM ASSOC ORGS 8940885 C NRUCFC CAP TERM CERTS 1436748 C NRUCFC MEMBER CAP SEC 4000000 C OTHER INVESTMENTS 107969 C 15127070 CONSUMER DEPOSITS 186497 PATRONAGE CAPITAL PAYABLE 172948 ACCUM PROVISION FOR PENSION & BENEFITS 268737 628182 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 NO UNCERTAIN TAX POSITIONS AS OF DECEMBER 31, 2010. WITH FEW EXCEPTIONS, THE COOPERATIVE AND ITS SUBSIDIARY ARE NO LONGER SUBJECT TO FEDERAL, STATE, OR LOCAL INCOME TAX EXAMINATIONS BY TAX AUTHORITIES FOR YEARS BEFORE 2007. X X X 0 0 0 KIM R COLBERG 141647 0 0 0 0 0 21193 0 6904 0 169744 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 ALL ELECTRIC CUSTOMERS OF THE COOPERATIVE ARE VOTING MEMBERS OF THE COOPERATIVE BY MEETING CERTAIN CONDITIONS. EACH MEMBER IS ENTITLED TO ONE VOTE. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS ELECT THE BOARD OF DIRECTORS. THERE IS ONE CLASS OF MEMBERSHIP. FORM 990, PART VI, SECTION A, LINE 7B MEMBERS VOTE ON CHANGES TO THE ARTICLES OF INCORPORATION. FORM 990, PART VI, SECTION A, LINE 8B THE COOPERATIVE DOES NOT HAVE COMMITTEES; THEREFORE, COMMITTEE MEETINGS ARE NOT DOCUMENTED. FORM 990, PART VI, SECTION B, LINE 11 GM/CEO AND CONTROLLER REVIEW THE FULL FORM 990 AFTER IT IS COMPILED BY THE STAFF AND AUDIT FIRM AT A REGULAR BOARD MEETING. ANY SUGGESTED CHANGES OR ADDITIONS ARE REVIEWED AND FORWARDED TO THE AUDIT FIRM, PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD REVIEWS THE CONFLICT OF INTEREST POLICY ON AN ANNUAL BASIS WITH GENERAL COUNSEL GUIDANCE. FOLLOWING THE REVIEW THE BOARD COMPLETES A CONFLICT OF INTEREST DISCLOSURE STATEMENT. IT IS THE GM/CEO'S RESPONSIBILITY TO PROVIDE ASSISTANCE TO THE BOARD TO ASSURE COMPLIANCE WITH THIS POLICY AND TO DEVELOP AND ENFORCE APPROPRIATE MANAGEMENT POLICY RELATING TO CONFLICTS OF INTEREST OF EMPLOYEES. DIRECTORS AND EMPLOYEES ARE REQUIRED TO MAKE FULL DISCLOSURE TO THE BOARD AND/OR COOPERATIVE OF ANY FACTS WHICH MAY INDICATE A CONFLICT OF INTEREST. THEY SHALL DISQUALIFY THEMSELVES FROM DECISIONS WHICH POSE A CONFLICT OF INTEREST OR THE APPEARANCE OF A CONFLICT OF INTEREST. THEY MAY REQUEST AN OPINION OF THE COOPERATIVE'S GENERAL COUNSEL BEFORE SUCH ACTION IS TAKEN. FORM 990, PART VI, SECTION B, LINE 15 THE CEO'S SALARY AND THE COMPENSATION OF THE BOARD OF DIRECTORS IS SET BY THE BOARD ON AN ANNUAL BASIS BASED UPON LOCAL, REGIONAL AND NATIONAL COMPENSATION DATA. A COMPENSATION CONSULTANT IS USED EVERY FIVE YEARS. THE CONTROLLER'S SALARY IS SET ON AN ANNUAL BASIS BY CEO USING LOCAL, REGIONAL AND NATIONAL COMPENSATION DATA. THIS COMPENSATION CONSULTANT WAS LAST UTILIZED IN 2008. FORM 990, PART VI, SECTION C, LINE 19 ARTICLES AND BYLAWS ARE PROVIDED TO MEMBERS UPON RECEIVING SERVICE OR UPON A LATER REQUEST. CONFLICT OF INTEREST POLICY UPON REQUEST. FINANCIAL STATEMENTS IN AN ANNUAL REPORT MAILED TO MEMBERS AND UPON REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: CAPITAL CREDITS RETIRED -834,954. CHANGE IN OTHER EQUITIES 30,335. EQUITY IN EARNINGS OF SUBSIDIARY 62,548. INCOME INCLUDED ON 990 NOT ON BOOKS -7,753. TOTAL TO FORM 990, PART XI, LINE 5: -749,824. FORM 990, PART XI, LINE 2C: THE COOPERATIVE'S OVERSIGHT OF THE AUDIT AND SELECTION OF INDEPENDENT AUDITOR HAS NOT CHANGED. CORRIDOR DEVELOPMENT INC 5695 REC DR MARION IA 52302 421370547 ECONOMIC DEVELOPMENT IA LINN COUNTY REC C 20498 781409 1.00000 0 0 0 1 0 0 0 0 0 0 1 0 0 0 0 0 0 0 ALL AMOUNTS UNDER 50000