2024-04-26T13:35:09-07:00 2023-12-31 990 2023-01-01 420655796 CORN BELT POWER COOPERATIVE CORN 5153322571 PO Box 508 Humboldt IA 50548 Karen Berte Sr. VP Finance & Administration 5153327731 2024-03-05 Karen Berte 999009999 1 1 11 0 AAL2 X 2023 2023-04-26 12:10:37Z Karen K Berte 1300 13th St N Humboldt IA 50548 172579186 0 X www.cbpower.coop X 1947 IA Generating and transmitting electrical energy to our members. 9 9 92 0 0 0 0 0 167546382 170890790 1341738 1682869 5067 5527 168893187 172579186 0 0 23810000 18667000 10752590 11218496 0 0 0 133007503 141334935 167570093 171220431 1323094 1358755 515608745 542332165 330568964 346009863 185039781 196322302 To enhance the quality of life for our members, employees and communities. 0 0 Each activity is part of the whole process of generating and transmitting electrical energy to our 9 member rural service cooperatives and our one member municipal electrical cooperative. 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 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 1 0 0 1 106 0 1 92 1 0 0 0 0 0 153078435 3095101 0 0 0 X 9 9 0 0 0 0 1 1 1 1 1 1 0 1 1 1 1 1 1 1 1 0 X Kenneth H Kuyper 5153327743 1300 13th St N Humboldt IA 50548 Kenneth H Kuyper Executive VP and General Manager 40 0 X 377775 0 175414 Kevin W Bornhoft VP Engineering and System Operations 40 0 X 210413 0 308131 Ryan Cornelius VP Corporate Relations 40 0 X 187267 0 226239 Jacob Olberding VP Power Supply 40 0 X 207141 0 195035 Patrick Connor Plant Manager 40 0 X 161656 0 165365 Karen K Berte Sr VP Finance and Administration 40 0 X 229344 0 83274 Michael Finnegan System Electrical Supt 40 0 X 127436 0 177680 Brittany Dickey VP Business Development 40 0 X 156958 0 133442 Jeremy Stattelman Transmission Superintendent 40 0 X 126979 0 150356 Larry Brusseau Compliance Director 40 0 X 144318 0 97642 Daniel Shiflett ROW & Construction Superintendent 40 0 X 135565 0 89451 David Onken President 11 0 X X 30875 0 0 Steve Boedecker Director 5 0 X 21600 0 0 Dale Schaefer Vice President 6 0 X X 20750 0 0 Brad Honold Director 9 0 X 19400 0 0 Larry Rohach Treasurer 7 0 X X 18400 0 0 Rick Thompson Director 4 0 X 15200 0 0 Gary Poppe Asst Secretary/Treasurer 4 0 X X 12600 0 0 Ted Hall Director 5 0 X 12200 0 0 Jerry Beck Secretary 6 0 X X 10000 0 0 2225877 0 1802029 21 0 1 0 IES Commercial Inc 120 S Lincoln Holdridge NE 68949 Line Construction 5230251 Infinity Technology Solutions LLC 100Dunbar St suite 304 Spartanburg SC 29306 Tower construction 1089792 Primoris T&D Services 1760 S Stemmons FWY 300 Lewisville TX 75067 Line construction 901987 Friest Tree Experts LLC 47854 273rd St Harrisburg SD 57032 Tree Trimming 884952 Open System International Inc 4104 Arrowwood Drive Medina MN 553409457 Equipment design and installation 562322 10 0 Electric energy sales 221000 138112852 138112852 0 0 RTO revenue 221000 16405650 16405650 0 0 Patronage allocation 221000 11297982 11297982 0 0 Substation and tower use fees 221000 4079347 4079347 0 0 Wheeling fees 221000 32868 32868 0 0 962091 962091 0 0 170890790 598315 0 0 598315 0 0 0 0 0 0 0 0 5095 0 0 0 5095 0 5095 0 0 5095 0 1084554 0 0 0 1084554 1084554 0 0 1084554 432 0 0 432 432 172579186 170890790 0 1688396 0 0 0 18667000 1962463 0 5548859 1913009 1129625 664540 0 94069 74300 0 0 0 138933 1013102 122386 408544 0 0 484530 0 336033 8663334 0 13098942 321480 Energy 104725895 Jointly Owned Units 4290918 Maint of plant & equipment 3969772 Property taxes 2495332 1097365 171220431 0 0 0 4004857 1964429 8355594 8695701 0 0 15302218 14212325 0 0 0 0 11826763 17669981 16106276 22542838 9024 513775 628070551 338948181 277346333 289122370 57291664 63879626 0 0 2498057 1698967 342494 658328 122525465 121373825 515608745 542332165 14564343 18552180 0 0 3709390 6209062 0 0 0 0 0 0 207133220 206174104 32104016 47942957 73057995 67131560 330568964 346009863 X 0 0 120386828 130275970 64652953 66046332 185039781 196322302 515608745 542332165 X 1358755 0 0 0 0 9923766 X 0 1 X 1 1 1 0 5837638 5837638 0 65736390 48041073 17695317 0 0 0 0 0 534840081 291331602 243508479 0 21656442 -424494 22080936 289122370 Patrons capital from associated organizations 105794595 Other investments in associated organizations 8395532 Investment in National Rual Utilities cooperative Finance Corp 5086550 Unamortized debt discount 862081 Regulatory Asset 782302 Misc accrued assets 166702 Non-utility property 158958 Interest and dividend income 102823 Other investments 24282 121373825 0 DAEC decommissioning liability 65393407 Ash landfill retirement obligation 1466008 Deferred Pension 272145 67131560 X 172571658 0 0 0 0 0 172571658 0 7528 7528 172579186 152545903 0 0 0 0 0 152545903 0 18674528 18674528 171220431 Schedule D, Part X, Line 2 The Cooperative recognizes the effect of income tax positions only if those positions are more likely than not of being sustained. Recognized income tax positions are measured at the largest amount that is greater than 50% likely of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgement occurs. Schedule D, Part XI, Line 4b Gain on the disposition and other credits $7,528 Schedule D, Part XII, Line 4b Gain on the disposition and other credits $7,528 and patronage allocation of 2023 margins $18,677,000 net $18,674,528 X 1 1 X X X X 0 0 0 Kenneth H Kuyper Executive VP and General Manager 313139 0 0 0 64636 0 163791 0 14992 0 556558 0 0 0 Kevin W Bornhoft VP Engineering and System Operations 182831 0 0 0 27582 0 279288 0 31124 0 520825 0 0 0 Ryan Cornelius VP Corporate Relations 171314 0 0 0 15953 0 200245 0 27958 0 415470 0 0 0 Jacob Olberding VP Power Supply 204985 0 0 0 2156 0 168337 0 28956 0 404434 0 0 0 Patrick Connor Plant Manager 147150 0 0 0 14506 0 139371 0 27766 0 328793 0 0 0 Karen K Berte Sr VP Finance and Administration 200231 0 0 0 29113 0 55265 0 30471 0 315080 0 0 0 Michael Finnegan System Electrical Supt 117820 0 0 0 9616 0 149996 0 29077 0 306509 0 0 0 Brittany Dickey VP Business Development 153420 0 0 0 3538 0 131643 0 3363 0 291964 0 0 0 Jeremy Stattelman Transmission Superintendent 125597 0 0 0 1382 0 123658 0 28091 0 278728 0 0 0 Larry Brusseau Compliance Director 142575 0 0 0 1743 0 68022 0 31261 0 243601 0 0 0 Daniel Shiflett ROW & Construction Superintendent 127818 0 0 0 7749 0 61086 0 29844 0 226497 0 0 0 Schedule J, Part I, Line 1a Any expenses of the companion that are paid for by the Cooperative is considered taxable to the executive. Form 990, Part VI, Section A, Line 6 Corn Belt has 8 rural electric cooperatives and one municipal electric cooperative as voting members. Corn Belt has two non-voting members. Form 990, Part VI, Section A, Line 7a Each voting member elects one representative to serve on the governing board of Corn Belt Power Cooperative. Form 990, Part VI, Section A, Line 7b The whole membership must approve changes to the Articles of Incorporation and the sale of substantially all the assets. Form 990, Part VI, Section A, Line 9 Dale Schaefer, 15507 140th St. Rockwell, IA 50469; David Onken, 14862 Quail Ave, Glidden, IA 51443; Larry Rohach, 22054 X Ave, Reinbeck, IA 50669; Jerry Beck, 1735 380th St., Spencer, IA 51301; Brad Honold, 123 Hickory Lane, Coon Rapids, IA 50058; Gary Poppe, 301 Somerset Court, Nashua, IA 50658; Ted Hall, 2040 310th St, Forest City, IA 50436; Rick Thompson, 1601 190th Ave, LuVerne, IA 50560; Steve Boedecker, 6471 Twin Lakes Road, Rockwell City, IA 50579 Form 990, Part VI, Section B, Line 11b Each director is provided a copy of the 990 tax return at the March or April board meeting. At the meeting the return is reviewed and discussed in detail before it is filed with the IRS. Form 990, Part VI, Section B, Line 12c Policies are annually reviewed by a policy committee, then approved by the board. A conflict of interest disclosure is completed annually by the board and its officers. Corn Belt reviews the conflict and has a procedure in place to address their participation in decision making. For example, if it is determined that an individual has a conflict they are removed from any discussion regarding the matter. Form 990, Part VI, Section B, Line 15 An industry specific consultant provides biennial reviews of the salary structure for all employees. The Executive VP & General Manager Wage structure is reviewed by the board of directors and other officers are reviewed by the Executive VP & General Manager each year. Wage adjustments are documented and approved by the board. In addition to the salary structure, an industry specific wage survey is also use to determine wages. Any individual that has a conflict regarding the compensation arrangement at issue are not involved in the review and approval. Form 990, Part VI, Section C, Line 19 These are available upon request. Form 990, Part XI, Line 9 Revenue deferred dividends $34,624, patronage dividends paid $(8,777,858), and allocation of 2023 margin to members of $18,667,000 for a net change of $9,923,766. Grundy County Industrial Park LC 303 N Park Avenue Grundy Center IA 50548 421507483 Economic development IA N/A Related -284 255703 0 0 0.5 Prairie Energy Development LLC 2099 Highway 3 West Clarion IA 50525 421514728 Economic Development IA N/A Related 2486 537802 0 0 0.5 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0