2024-11-11T11:16:32-06:00 2023-12-31 450250958 EIDE BAILLY LLP 345 N REID PL STE 400 SIOUX FALLS SD 571037034 990 2023-01-01 420519838 NISHNABOTNA VALLEY RURAL ELECTRIC COOPERATIVE NISH 7127552166 1317 CHATBURN AVE PO BOX 714 HARLAN IA 515370714 WILLIAM MCKIM CEO 7127552166 2024-11-01 1 1 LAURIE HANSON CPA P00851848 6053391999 2024-11-01 2023 2024-10-15 13:58:12Z WILLIAM MCKIM 1317 CHATBURN AVE PO BOX 714 HARLAN IA 515370714 20205209 0 X NVREC.COM X 1936 IA PROVIDE SAFE AND RELIABLE ELECTRIC SERVICES TO OUR MEMBERS. 7 7 20 0 0 0 0 0 18908234 20064235 44303 43284 -36231 -14600 18916306 20092919 14144 15965 1442342 1616985 1450779 1331358 0 0 0 15138256 15918204 18045521 18882512 870785 1210407 49225377 52850954 23569924 24736605 25655453 28114349 NISHNABOTNA VALLEY REC WILL PROVIDE SAFE AND RELIABLE ELECTRIC SERVICES TO OUR MEMBERS IN A VALUABLE, SUSTAINABLE, AND ENVIRONMENTALLY RESPONSIBLE MANNER. 0 0 PROVIDED 173,334,076 KWH OF ELECTRICITY TO APPROXIMATELY 2,567 MEMBERS, WHILE MAINTAINING SYSTEM RELIABILITY AS A WHOLE. 0 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 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 1 28 0 1 20 1 0 0 0 0 0 0 0 18711415 946947 0 0 0 X 7 7 0 1 0 0 1 1 1 1 0 0 0 1 1 1 0 1 1 0 1 0 X WILLIAM MCKIM 7127552166 1317 CHATBURN AVE PO BOX 714 HARLAN IA 51537 DONNA OLSON VICE PRESIDENT/PRESIDENT 6.40 0.10 X X 6525 0 0 GENE KENKEL PRESIDENT/VICE PRESIDENT 3.40 0.10 X X 7425 0 0 BRYAN GREVE SECRETARY-TREASURER 2.10 0.10 X X 4275 0 0 DARRELL STAMP DIRECTOR 2.90 0.10 X 4725 0 0 THOMAS PATTEE DIRECTOR 2.90 0.10 X 4725 0 0 GALEN GRABILL DIRECTOR 2.10 0.10 X 4500 0 0 DAVID APPLEGATE DIRECTOR 2.00 0.10 X 4725 0 0 WILLIAM MCKIM CEO 51.10 0.00 X 0 0 0 KARA MEINERS MANAGER OF ADMINISTRATIVE SERVICES 45.90 0.10 X 83077 0 48581 JESSE LEE FOREMAN 41.90 0.00 X 108276 0 41452 DAVID MONSON MATERIAL COORDINATOR/FOREMAN 43.10 0.00 X 110856 0 53554 AARON NIPPERT FOREMAN 41.90 0.00 X 106418 0 46307 KERT BARNUM DIRECTOR OF OPERATIONS 47.30 0.00 X 125422 0 43734 DAVID CURREN FOREMAN 42.80 0.00 X 112098 0 33382 683047 0 267010 6 0 1 0 HIGHLINE CONSTRUCTION INC 16124 OLD LAKE ROAD PAYNESVILLE MN 56362 CONTRACTOR 557504 ENOVUS MANAGEMENT COOP 1005 E LINCOLN WAY JEFFERSON IA 50129 MANAGEMENT SERVICES 442501 SCHRAEDER ELECTRIC LLC 1105 NORMAL ST WOODBINE IA 51579 CONTRACTOR 343484 NATIONAL INFORMATION SOLUTIONS COOP 1 INNOVATION CIR LAKE SAINT LOUIS MO 63367 SOFTWARE CONTRACTOR 106028 4 ELECTRIC OPERATING REV 221000 18602242 18602242 CAPITAL CREDITS 221000 1347752 1347752 SUBSIDIARY INCOME 221000 67072 67072 47169 47169 20064235 38784 38784 4500 0 4500 4500 4500 97690 112290 -14600 -14600 20092919 20064235 0 28684 15965 1616985 174655 760233 193312 140344 62814 166129 14533 15640 327904 2803 38207 21940 109826 884081 1630265 9462 COST OF POWER 11471597 DISTRIBUTION - OPERATIO 394557 DISTRIBUTION - MAINTENA 394300 ADMINISTRATIVE & GENERA 201405 235555 18882512 1324295 1176249 1594924 1584861 302640 138516 1945149 1847252 216135 110360 55752410 17514713 35096679 38237697 493840 560911 8251715 9195108 49225377 52850954 1310449 1740206 328005 665886 21842282 22206655 89188 123858 23569924 24736605 X 0 0 0 0 25655453 28114349 25655453 28114349 49225377 52850954 X 1210407 1248489 X 0 1 X 1 0 6028 6028 1527653 969434 558219 3976963 2957864 1019099 50241766 13587415 36654351 38237697 NORTHWEST IOWA POWER COOPERATIVE 7673857 C NATIONAL RURAL UTILITIES COOPERATIVE FINANCE CORPORATION 1211140 C FEDERATED RURAL ELECTRIC INSURANCE EXCHANGE 148371 C NATIONAL INFORMATION SOLUTIONS COOPERATIVE 54298 C RURAL ELECTRIC SUPPLY COOPERATIVE 108887 C ENOVUS MANAGEMENT COOPERATIVE 4474 C OTHER -5919 C 9195108 POSTRETIREMENT BENEFIT OBLIGATION 100992 CUSTOMER DEPOSIT 22866 123858 X 20092919 0 20092919 0 20092919 17265527 0 17265527 1616985 1616985 18882512 PART X, LINE 2: THE COOPERATIVE HAS EVALUATED WHETHER IT WAS NECESSARY TO RECOGNIZE ANY BENEFIT FROM UNCERTAIN TAX POSITIONS IN CURRENTLY OPEN TAX PERIODS AND DETERMINED THAT THERE ARE NO MATERIAL UNCERTAINTIES WITHIN ITS FILED TAX RETURNS. AS OF DECEMBER 31, 2023 AND 2022, THE UNRECOGNIZED TAX BENEFIT ACCRUAL WAS ZERO. THE COOPERATIVE WOULD RECOGNIZE FUTURE ACCRUED INTEREST AND PENALTIES RELATED TO UNRECOGNIZED TAX BENEFITS IN INCOME TAX EXPENSE IF INCURRED. PART XII, LINE 4B - OTHER ADJUSTMENTS: ALLOCATION OF 2023 MARGINS TO MEMBERS IN 2024 1,616,985. 1 NISHNABOTNA VALLEY FOUNDATION 1317 CHATBURN AVE PO BOX 714 HARLAN IA 51537 421467824 501(C)3 11571 0 SCHOLARSHIPS FOR HIGH SCHOOL AND COLLEGE STUDENTS 1 0 PART I, LINE 2: NISHNABOTNA VALLEY FOUNDATION IS CONTROLLED BY NISHNABOTNA VALLEY RURAL ELECTRIC COOP, WITH BOARD MEMBER OVERLAP. THE COOPERATIVE IS EASILY ABLE TO CONFIRM FUNDS ARE USED AS INTENDED AS A RESULT OF THIS RELATIONSHIP. 0 0 0 KERT BARNUM DIRECTOR OF OPERATIONS 125422 0 0 0 0 0 19962 0 24872 0 170256 0 0 0 DAVID MONSON MATERIAL COORDINATOR/FOREMAN 110856 0 0 0 0 0 26804 0 27685 0 165345 0 0 0 AARON NIPPERT FOREMAN 106418 0 0 0 0 0 22275 0 24950 0 153643 0 0 0 JESSE LEE FOREMAN 108276 0 0 0 0 0 18980 0 23390 0 150646 0 0 0 PART I, LINE 3 COMPENSATION IS DETERMINED BY A MANAGEMENT ORGANIZATION, ENOVUS MANAGEMENT COOPERATIVE. THE ORGANIZATION RELIED ON ENOVUS MANAGEMENT COOPERATIVE TO ESTABLISH COMPENSATION AS DETERMINED BY METHODS DESCRIBED ON SCHEDULE J, PART I, LINE 3. SCHEDULE J, PART II, COLUMN C PER IRS INSTRUCTIONS, THE CHANGE IN ACTUARIAL VALUE OF THE DEFINED BENEFIT PLAN IS INCLUDED IN SCHEDULE J, PART II, COLUMN C FOR EMPLOYEES WHO PARTICIPATE IN THE PLAN. THIS IS NOT REFLECTIVE OF ACTUAL CONTRIBUTIONS MADE TO THE PLAN DURING THE YEAR. FORM 990, PART VI, SECTION A, LINE 3 NISHNABOTNA VALLEY RURAL ELECTRIC COOPERATIVE HAS DELEGATED MANAGEMENT DUTIES TO ENOVUS MANAGEMENT COOPERATIVE. WILLIAM MCKIM PROVIDES CHIEF EXECUTIVE OFFICER DUTIES AND SERVICES. DURING 2023, NVREC PAID ENOVUS MANAGEMENT COOPERATIVE $166,129 FOR THESE SERVICES. FORM 990, PART VI, SECTION A, LINE 6 SINGLE CLASS OF MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A ONE MEMBER, ONE VOTE, IN PERSON OR APPOINTED DELEGATE (IN THE CASE OF CORPORATIONS), AT THE ANNUAL MEETING OF THE MEMBERSHIP. FORM 990, PART VI, SECTION A, LINE 7B CHANGES TO THE ARTICLES OF INCORPORATION REQUIRE APPROVAL OF THE MEMBERSHIP. THE BOARD OF DIRECTORS HAS THE AUTHORITY FOR ALL OTHER DECISIONS. FORM 990, PART VI, SECTION A, LINE 8B COMMITTEES DO KEEP NOTES, BUT HAVE NO AUTHORITY TO ACT, ONLY TO RECOMMEND ACTION TO THE FULL BOARD. FORM 990, PART VI, SECTION B, LINE 11B THE CEO PRESENTS THE ANNUAL FORM 990 IN DRAFT FORM AT THE BOARD MEETING PRECEDING THE DATE THE FORM 990 WILL BE FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 15B THE CEO REVIEWS THE NCG SURVEY AND OTHER COMPARISONS FOR APPROPRIATE SALARY LEVELS BASED ON COMPARABLE POSITIONS AT THE REGIONAL, STATE AND NATIONAL LEVELS FOR KEY STAFF POSITIONS. THE CEO ALSO REVIEWS ANNUAL GOALS SET VS. GOALS MET, USING THE BUDGET AND PERSONNEL MEETINGS. THE CEO DETERMINES ALL ANNUAL PAY ADJUSTMENTS FOR KEY STAFF. THIS PROCESS TAKES PLACE IN AUGUST OR SEPTEMBER OF EACH YEAR. FORM 990, PART VI, SECTION C, LINE 19 A COPY OF THE ARTICLES OF INCORPORATION AND BYLAWS ARE AVAILABLE UPON REQUEST AT THE FRONT COUNTER OF THE OFFICE AND AVAILABLE UPON REQUEST. THE FIGURES FROM THE COOPERATIVE'S BALANCE SHEET AND STATEMENT OF OPERATIONS ARE INCORPORATED INTO THE ANNUAL REPORT MAILED TO ALL MEMBERS. THE COOPERATIVE WILL PROVIDE THE AUDITED FINANCIAL AND/OR CONFLICT OF INTEREST POLICY UPON REQUEST. FORM 990, PART XI, LINE 9: RETIREMENT OF CAPITAL CREDITS -368,496. ALLOCATION OF 2023 MARGINS TO MEMBERS IN 2024 1,616,985. 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. NISHNABOTNA VALLEY FOUNDATION PO BOX 714 HARLAN IA 51537 421467824 COLLEGE SCHOLARSHIP IA 501(C)(3) PF N/A 1 GREAT WESTERN DEVELOPMENT LTD PO BOX 714 HARLAN IA 51537 421322104 REAL ESTATE IA NISHNABOTNA VALLEY RURAL ELECTRIC COOPERATIVE C 35766 563071 1.00000 1 WESTERN VENTURES INC PO BOX 714 HARLAN IA 51537 421414507 REAL ESTATE IA NISHNABOTNA VALLEY RURAL ELECTRIC COOPERATIVE C 86205 560030 1.00000 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0