2024-08-30T11:00:56-05:00 2023-12-31 450250958 EIDE BAILLY LLP 345 N REID PL STE 400 SIOUX FALLS SD 571037034 990 2023-01-01 420451575 OSCEOLA ELECTRIC COOPERATIVE INC OSCE 7127542519 PO BOX 127 SIBLEY IA 51249 JEFFERY TENNAPEL EXECUTIVE VP/GENERAL MANAGER 7127542519 2024-08-30 1 1 LAURIE HANSON CPA P00851848 6053391999 2024-08-30 2023 2024-08-08 14:25:15Z JEFFERY TENNAPEL PO BOX 127 SIBLEY IA 51249 8889631 0 X WWW.OSCEOLAELECTRIC.COM X 1938 IA RURAL ELECTRIC COOPERATIVE THAT PROVIDES ELECTRIC SERVICE TO ITS MEMBERS. 7 7 10 0 0 0 0 0 6979456 8787198 41689 74428 -4053 -1522 7017092 8860104 12822 13350 364364 332873 892195 943368 0 0 0 5383347 7237640 6652728 8527231 364364 332873 19132234 21723724 7365440 9446229 11766794 12277495 SALE OF ELECTRICITY TO MEMBERS TO GENERATE INCOME FOR THE SOLE PURPOSE OF MEETING LOSSES AND EXPENSES. 0 0 SUCCESSFULLY DELIVERED ELECTRIC SERVICE TO APPROXIMATELY 871 CONSUMERS IN NORTHWEST IOWA. 0 0 0 0 0 0 0 1 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 1 10 0 1 10 1 0 0 0 0 0 8338542 138228 0 0 0 X 7 7 0 0 0 0 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 0 X MARK VANDER POL 7127542519 1102 EGRET DRIVE SIBLEY IA 51249 X RONALD JACOBS PRESIDENT UNTIL 03/2023 3.70 X X 2100 0 0 TERRENCE CLARK VICE PRESIDENT/PRESIDENT FROM 04/2023 4.30 X X 8775 0 0 DEAN HASPELS SECRETARY/TREASURER 4.70 X X 9125 0 0 STEVE VOSS DIRECTOR 2.20 X 4500 0 0 EDWARD STROUTH DIRECTOR UNTIL 10/2023 0.60 X 1250 0 0 ADAM HOEKSTRA DIRECTOR 4.40 X 7500 0 0 DEREK ACKERMAN DIRECTOR/VICE PRESIDENT FROM 04/2023 3.40 X X 6750 0 0 DANIEL HEILMAN DIRECTOR FROM 03/2023 2.40 X 4000 0 0 DOUGLAS ROTH DIRECTOR FROM 11/2023 6.10 X 1750 0 0 JEFF TENNAPEL EXECUTIVE VP/GENERAL MANAGER 40.00 X 156630 0 95347 TOMMY STOREY JR LINE FOREMAN 40.00 X 109385 0 58706 311765 0 154053 2 0 1 0 LOOSBROCK DIGGING SERVICE 221 WEST 4TH STREET LISMORE MN 56155 INSTALLATION OF UNDERGROUND CABLE AND AS 189246 1 SALE OF ELECTRICITY 221000 8234737 8234737 COOP CAPITAL CREDITS 221000 552461 552461 8787198 74428 74428 28005 29527 -1522 -1522 8860104 8785676 0 74428 X 11054 2296 332873 268170 447111 181828 46259 33252 16710 74203 274121 454238 PURCHASED POWER 5763068 DISTRIBUTION - MAINTENA 422896 DISTRIBUTION - OPERATIO 382713 CUSTOMER ACCOUNTS 226100 -409661 8527231 1642886 1203488 588890 2063659 457575 1145723 147123 107328 15933684 3749976 11873036 12183708 306758 412388 4105656 4594317 10310 13113 19132234 21723724 634695 2319248 66 78 5851035 6414154 879644 712749 7365440 9446229 X 0 0 4370 4355 11762424 12273140 11766794 12277495 19132234 21723724 X 332873 177828 X 0 1 X 1 0 0 1 X 8749 8749 630005 324966 305039 14947773 3405061 11542712 347157 19949 327208 12183708 PATRONAGE CAPITAL CREDITS 4387686 C NRUCFC CAPITAL TERM CERTIFICATES 206631 C 4594317 CONSUMER DEPOSITS 49583 DEFERRED CREDITS 368420 POSTRETIREMENT BENEFITS 256338 OTHER CREDIT 38408 712749 X 8860104 0 8860104 0 8860104 8194358 0 8194358 332873 332873 8527231 PART IV, LINE 2B: THE RE-CARE PROGRAM IS A VOLUNTARY PROGRAM THAT ALLOWS CUSTOMERS TO CONTRIBUTE MONIES IN EXCESS OF THEIR BILL FOR THE PURPOSE OF HELPING OTHER MEMBERS PAY THEIR ELECTRIC BILL. THE CONTRIBUTED AMOUNT IS TRANSFEREED INTO AN ACCOUNT THAT IS ADMINISTERED BY OSCEOLA ELECTRIC COOPERATIVE. FUNDS HELD IN THIS ACCOUNT ARE SENT TO UPPER DES MOINES OPPORTUNITY ON AN ANNUAL BASIS, WITH A REQUEST THAT ASSISTANCE IS GIVEN TO A MEMBER OF THE COOPERATIVE WHO APPLIES FOR ASSISTANCE. PART X, LINE 2: THE COOPERATIVE BELIEVES IT HAS APPROPRIATE EVIDENCE FOR ANY TAX POSITIONS TAKEN AFFECTING ITS ANNUAL FILING REQUIREMENTS, AND AS SUCH, DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS THAT ARE MATERIAL TO THE FINANCIAL STATEMENTS. THE COOPERATIVE WOULD RECOGNIZE FUTURE ACCRUED INTEREST AND PENALTIES RELATED TO UNRECOGNIZED TAX BENEFITS IN INCOME TAX EXPENSE IF SUCH INTEREST AND PENALTIES ARE INCURRED. PART XII, LINE 4B - OTHER ADJUSTMENTS: ALLOCATION OF 2023 MARGINS TO MEMBERS IN 2024 332,873. X 0 0 0 JEFF TENNAPEL EXECUTIVE VP/GENERAL MANAGER 155299 0 0 0 1331 0 77587 0 19618 0 253835 0 0 0 TOMMY STOREY JR LINE FOREMAN 108497 0 0 0 888 0 36782 0 23176 0 169343 0 0 0 SCHEDULE J PART II COLUMN C COLUMN C INCLUDES THE CHANGE IN ACTUARIAL VALUE IN THE DEFINED BENEFIT PLAN OF $69,775 FOR JEFFERY TEN NAPEL. THE COOPERATIVE'S ACTUAL EXPENSE FOR 2023 WAS $38,360. COLUMN C INCLUDES THE CHANGE IN ACTUARIAL VALUE IN THE DEFINED BENEFIT PLAN OF $31,433 FOR TOMMY STOREY. THE COOPERATIVE'S ACTUAL EXPENSE FOR 2023 WAS $25,823. FORM 990, PART VI, SECTION A, LINE 6 THE COOPERATIVE HAS ONE CLASS OF MEMBERS. ANY PERSON, FIRM, CORPORATION, OR BODY POLITIC MAY BECOME A MEMBER IN THE COOPERATIVE BY PAYING THE MEMBERSHIP FEE, AGREEING TO PURCHASE ENERGY FROM THE COOPERATIVE, AND AGREEING TO COMPLY WITH THE BYLAWS OF THE COOPERATIVE. EACH MEMBER HAS ONE VOTE. FORM 990, PART VI, SECTION A, LINE 7A THE BOARD OF DIRECTORS CONSISTS OF SEVEN MEMBERS ELECTED TO THREE YEAR TERMS BY THE MEMBERS AT THE ANNUAL MEETING OF THE MEMBERS. FORM 990, PART VI, SECTION A, LINE 7B ANY CHANGES TO THE ARTICLES OF INCORPORATION REQUIRE A VOTE BY THE MEMBERSHIP. EACH MEMBER RECEIVES THE RIGHT TO VOTE ONCE. FORM 990, PART VI, SECTION A, LINE 8B THERE ARE NO COMMITTEES THAT HOLD BROAD AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BOARD. FORM 990, PART VI, SECTION B, LINE 11B A DISCUSSION IS HELD AT THE BOARD MEETING OUTLINING THE FORM 990. A COPY OF THE FORM 990 IS AVAILABLE TO ANY DIRECTOR WHO WISHES TO HAVE ONE. FORM 990, PART VI, SECTION B, LINE 12C ANNUALLY THE DIRECTORS AND EMPLOYEES COMPLETE AND SIGN A CONFLICT OF INTEREST DISCLOSURE FORM. MANAGEMENT REVIEWS THE FORMS FOR ANY DISCLOSURES AND DISCUSSES WITH THE INDIVIDUAL ANY PROCEDURES THAT WILL NEED TO BE FOLLOWED. CONFLICTS OF INTEREST ARE RECORDED IN THE MINUTES OF THE BOARD OF DIRECTORS, AND THE DIRECTOR WITH THE CONFLICT REFRAINS FROM DISCUSSION AND VOTING. IF NECESSARY, DIRECTORS WITH CONFLICTS OF INTEREST ARE ASKED TO EXIT THE MEETING DURING DISCUSSIONS PERTAINING TO THE CONFLICT OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15A COMPENSATION OF THE GENERAL MANAGER IS DETERMINED BY THE BOARD OF DIRECTORS FOLLOWING AN ANNUAL EVALUATION. THIS PROCESS IS UNDERTAKEN ANNUALLY IN JUNE. FORM 990, PART VI, SECTION C, LINE 19 THE COOPERATIVE MAKES THESE DOCUMENTS AVAILABLE FOR REVIEW AT THE COOPERATIVE OFFICE UPON REQUEST. FORM 990, PART VII, COLUMN F, OTHER COMPENSATION INCLUDED IN OTHER COMPENSATION IS THE ESTIMATED CURRENT YEAR INCREASE OR DECREASE IN THE ACTUARIAL VALUE OF THE DEFINED BENEFIT PLAN FOR THE GENERAL MANAGER. THE CURRENT YEAR INCREASE OR DECREASE DOES NOT REPRESENT CURRENT YEAR CONTRIBUTIONS TO THE PLAN. RATHER, IT IS AN ESTIMATE OF THE INCREASE OR DECREASE IN THE ACTUARIAL VALUE OF THE PLAN AS CALCULATED BY THE PLAN ADMINISTRATOR. FORM 990 PART VII THE GENERAL MANAGER IS THE TOP MANAGEMENT OFFICIAL AND THE TOP FINANCIAL OFFICIAL OF THE ORGANIZATION. FORM 990, PART IX, LINE 4, BENEFITS PAID TO OR FOR MEMBERS: THE COOPERATIVE HAS INTERPRETED THE INSTRUCTIONS TO PART IX, LINE 4, TO MEAN PATRONAGE CAPITAL ALLOCATED FOR THE YEAR, RATHER THAN PATRONAGE CAPITAL RETIRED. THIS IS CONSISTENT WITH THE BY-LAWS OF THE COOPERATIVE. FORM 990, PART XI, LINE 9: RETIREMENT OF CAPITAL CREDITS -155,030. CHANGE IN MEMBERSHIPS -15. ALLOCATION OF 2023 MARGINS TO MEMBERS IN 2024 332,873.