2024-05-16T15:28:47-05:00 2023-12-31 410746749 CLIFTONLARSONALLEN LLP 2689 COMMERCE DRIVE NW SUITE 201 ROCHESTER MN 55901 990 2023-01-01 420461075 PELLA COOPERATIVE ELECTRIC ASSOCIATION PELL 6416281040 PO BOX 106 PELLA IA 50219 DOUGLAS STEWART CEO 6416281040 2024-04-29 1 DOUGLAS STEWART 999009999 0 KATHERINE LUTZKE CPA P01760889 5072802300 2024-04-29 3 AAL1 IAL1 2023 2023-04-26 12:10:37Z DOUGLAS STEWART PO BOX 106 PELLA IA 50219 8311439 0 X WWW.PELLA-CEA.ORG X 1936 IA DISTRIBUTION COOPERATIVE PROVIDING ELECTRIC SERVICE FOR FIVE COUNTIES IN SOUTH CENTRAL IOWA. 7 7 16 0 9299 0 0 0 7970040 7860710 42605 45779 177102 404950 8189747 8311439 0 0 191912 202310 244249 266525 0 0 0 7305790 7235675 7741951 7704510 447796 606929 30802510 31232690 15289411 15060279 15513099 16172411 DISTRIBUTION COOPERATIVE PROVIDING ELECTRIC SERVICE FOR FIVE COUNTIES IN SOUTH CENTRAL IOWA. 0 0 THE COOPERATIVE PROVIDES ELECTRIC DISTRIBUTION SERVICE TO APPROXIMATELY 3000 MEMBER-CONSUMERS IN JASPER, MAHASKA, MARION, POWESHIEK, AND WARREN COUNTIES, IOWA. 0 0 0 0 0 0 0 0 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 15 0 16 1 1 1 0 0 0 0 7997035 447262 0 0 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 CASSIE CASON 6416281040 PO BOX 106 PELLA IA 50219 DUANE VER PLOEG PRESIDENT 3.35 X X 8315 0 0 STEVE INSKEEP VICE PRESIDENT 6.24 X X 11220 0 0 ROBERT VAN SOELEN TREASURER 4.08 X X 9180 0 0 BRYCE ARKEMA SECRETARY 4.33 X X 10370 0 0 DARRELL BOOT ASST SECRETARY/TREASURER 4.39 X X 8570 0 0 CARROLL HOKSBERGEN DIRECTOR 4.24 X 10590 0 0 JON VAN WOERKOM DIRECTOR 4.49 X 10400 0 0 DOUGLAS STEWART CEO 47.00 X 144921 0 52959 213566 0 52959 1 0 1 0 0 SALE OF POWER 221000 7860710 7860710 7860710 45779 45779 CAPITAL CREDITS 900099 384043 384043 MISCELLANEOUS 900099 20907 11608 9299 404950 8311439 8256361 9299 45779 202310 266525 462886 595721 COST OF POWER 4055519 DIST EXP - MAINTENANCE 640099 ADMIN & GENERAL EXPENSE 547758 DIST EXP - OPERATIONS 362922 570770 7704510 689955 745468 1781435 1528126 452059 454980 54887 55676 29444407 6822145 21878640 22622262 5892395 5787656 4820 4820 48319 33702 30802510 31232690 846646 632932 125 14394955 14379286 47810 47936 15289411 15060279 X 0 0 0 0 15513099 16172411 15513099 16172411 30802510 31232690 X 606929 52383 X 0 1 X 1 0 735738 735738 1982804 976860 1005944 1927355 1268765 658590 24798510 4576520 20221990 22622262 FEDERAL ECON DEVEL LOANS 2406250 C CIPCO - PATRONAGE CAPITAL 1922672 C NRUCFC CAPITAL TERM CERTS 297600 C NRUCFC - PATRONAGE CAPITAL 392150 C NRUCFC - MEMBER CAP SECS 500000 C FREIX - PATRONAGE CAPITAL 94258 C OTHER INVESTMENTS 174726 C 5787656 CONSUMER DEPOSITS 35982 CAPITAL CREDITS PAYABLE 11954 47936 X 8311439 0 8311439 0 8311439 7502200 0 7502200 202310 202310 7704510 PART X, LINE 2: THE COOPERATIVE IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(12) OF THE INTERNAL REVENUE CODE (IRC). ACCORDINGLY, NO PROVISION FOR INCOME TAXES HAS BEEN RECORDED AT DECEMBER 31, 2023 AND 2022. THE COOPERATIVE EVALUATED ITS TAX POSITIONS AND DETERMINED NO UNCERTAIN TAX POSITIONS AS OF DECEMBER 31, 2023. PART XII, LINE 4B - OTHER ADJUSTMENTS: PATRONAGE DIVIDENDS ALLOCATED 202,310. X X X X 0 0 0 DOUGLAS STEWART CEO 144194 0 0 0 727 0 34057 0 18902 0 197880 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 MEMBERSHIP IS AVAILABLE TO ALL PERSONS WITHIN THE ASSIGNED SERVICE AREA OF THE COOPERATIVE ON A NONDISCRIMINATORY BASIS. EACH MEMBER-CONSUMER HAS ONE VOTE AT THE ANNUAL MEETING OF THE MEMBERSHIP. FORM 990, PART VI, SECTION A, LINE 7A EACH MEMBER-CONSUMER HAS ONE VOTE AND THE AFFAIRS OF THE COOPERATIVE ARE CONDUCTED BY A BOARD OF DIRECTORS WHO ARE ELECTED FROM AMONG THE MEMBER-CONSUMERS BY THE MEMBER-CONSUMERS. FORM 990, PART VI, SECTION A, LINE 7B ANY AMENDMENT TO THE ARTICLES OF INCORPORATION IS SUBJECT TO APPROVAL BY THE COOPERATIVE'S MEMBERS. ANY AMENDMENT TO THE BY-LAWS IS SUBJECT TO APPROVAL BY THE COOPERATIVE'S MEMBERS OR THE COOPERATIVE'S BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 8B THE ORGANIZATION DOES NOT HAVE ANY COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B A COMPLETE COPY OF THE FORM 990 IS PROVIDED TO THE BOARD OF DIRECTORS GOVERNING BODY ANNUALLY FOR REVIEW AND APPROVAL BEFORE IT IS FILED. REVIEW AND APPROVAL TAKE PLACE DURING A SCHEDULED BOARD MEETING BEFORE THE MAY 15TH FILING DEADLINE. FORM 990, PART VI, SECTION B, LINE 12C THE COOPERATIVE RECOGNIZES AND RESPECTS EACH EMPLOYEE'S/DIRECTOR'S RIGHT TO PRIVACY AND TO ENGAGE IN PERSONAL ACTIVITIES OUTSIDE THE SCOPE OF EMPLOYMENT WITH THE COOPERATIVE. EACH EMPLOYEE/DIRECTOR ALSO HAS AN OBLIGATION; HOWEVER, TO REFRAIN FROM ACTIVITIES WHICH CONFLICT OR INTERFERE WITH THE COOPERATIVE'S OPERATIONS, AND TO REFER QUESTIONS AND CONCERNS ABOUT POTENTIAL CONFLICTS TO THEIR SUPERVISOR, THE CEO, OR THE BOARD PRESIDENT. ANNUALLY, EACH EMPLOYEE/DIRECTOR WILL BE REQUIRED TO FILL OUT AND SIGN A "STATEMENT OF BUSINESS ETHICS" AS A CONDITION OF EMPLOYMENT/APPOINTMENT. THE COOPERATIVE RESERVES THE RIGHT TO DETERMINE WHEN AN ACTIVITY CONFLICTS WITH ITS INTERESTS, AND TO TAKE WHATEVER ACTION IS NECESSARY TO RESOLVE THE CONFLICT. IF NECESSARY, THIS ACTION CAN INCLUDE TERMINATION OF THE EMPLOYEE OR REMOVAL FROM THE BOARD. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION FOR THE CEO AND ALL STAFF POSITIONS ARE REVIEWED ANNUALLY, THE LATEST REVIEW BEING COMPLETED IN DECEMBER 2020. COMPENSATION IS ESTABLISHED BASED ON COMPETITIVE WAGES PAID TO INDIVIDUALS WITH SIMILAR JOB RESPONSIBILITIES. COMPARISONS ARE MADE USING THE NRECA COMPENSATION STUDY AND ADJUSTED USING STATE, REGIONAL, OR NATIONAL COMPARISONS. COMPENSATION FOR THE CEO IS INDEPENDENTLY REVIEWED AND APPROVED EACH YEAR BY THE BOARD OF DIRECTORS. THE BOARD OF DIRECTORS ALSO PERFORMS AN ANNUAL PERFORMANCE AND SALARY REVIEW OF THE CEO WHICH IS DOCUMENTED AND STORED IN THE CEO'S PERSONNEL FILE. FORM 990, PART VI, SECTION C, LINE 18 DOCUMENTS ARE PROVIDED UPON REQUEST. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE AVAILABLE ON THE ORGANIZATION'S WEBSITE. FORM 990, PART XI, LINE 9: CAPITAL CREDITS RETIRED -143,592. CHANGES IN OTHER EQUITIES -6,335. PATRONAGE DIVIDENDS ALLOCATED 202,310. FORM 990, PART IX, LINE 4: THE IRS INSTRUCTIONS STATE THAT PATRONAGE DIVIDENDS PAID BY SECTION 501(C)(12) ORGANIZATIONS TO THEIR MEMBERS SHOULD BE REPORTED ON LINE 4. THE ORGANIZATION HAS INTERPRETED PATRONAGE DIVIDENDS PAID TO MEAN PATRONAGE DIVIDENDS ALLOCATED OR TO BE ALLOCATED FOR THE CURRENT YEAR. SINCE THIS ALLOCATION IS NOT AN EXPENSE UNDER GENERALLY ACCEPTED ACCOUNTING PRINCIPLES (GAAP), THIS HAS RESULTED IN A RECONCILING ITEM TO NET ASSETS IN PART XI ON PAGE 12 OF THE FORM 990 AND IN PART XII ON SCHEDULE D.