2025-09-03T08:58:50-05:00 2024-12-31 450250958 EIDE BAILLY LLP 345 N REID PL STE 400 SIOUX FALLS SD 571037034 990 2024-01-01 371013955 PRAIRIE POWER INC PRAI 2172456161 3130 PLEASANT RUN SPRINGFIELD IL 62711 CRYSTAL RINEY VP FINANCE & ACCOUNTING 2172456161 2025-09-02 1 1 LAURIE HANSON CPA P00851848 6053391999 2025-09-02 2024 2025-03-06 01:10:19Z ERIC HOBBIE 3130 PLEASANT RUN SPRINGFIELD IL 62711 179732850 0 X WWW.PPI.COOP X 1963 IL MEMBER-OWNED NOT-FOR-PROFIT ELECTRIC GENERATION AND TRANSMISSION COOPERATIVE 20 20 72 0 -8715 0 0 0 171405039 177086572 1274601 1405524 369217 320066 173048857 178812162 20240 21765 8000000 8493200 9016276 9529185 0 0 0 156012341 160768012 173048857 178812162 0 0 766225748 795183202 635659748 656124002 130566000 139059200 THE COOPERATIVE'S MISSION IS TO MARKET RELIABLE, COMPETITIVELY-PRICED ENERGY AND OTHER SERVICES. 0 0 ELECTRIC PURCHASES - PURCHASED AND GENERATED KILOWATT HOURS OF ELECTRICITY FOR SALE TO MEMBER SYSTEMS. TRANSMISSION OF ELECTRICITY - TRANSMISSION OF ELECTRICITY FROM THE GENERATOR TO OUR MEMBER SYSTEMS DISTRIBUTION OF ELECTRICITY - DISTRIBUTION OF ELECTRICITY FROM THE SUBSTATION TO OUR MEMBER SYSTEMS. 0 0 0 0 0 0 0 0 0 1 1 0 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 1 0 1 490 0 1 72 1 1 1 0 0 0 0 0 0 153780464 1298466 0 0 0 X 20 20 1 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X CRYSTAL RINEY 2172456161 3130 PLEASANT RUN SPRINGFIELD IL 62711 X TOM TRAVIS DIRECTOR 3.00 X 10100 0 0 BRENT LIVELY DIRECTOR 2.00 X 9750 0 0 THOMAS MEEHAN DIRECTOR 4.00 X 10450 0 0 JERRY RIGGINS DIRECTOR UNTIL 08/2024 3.00 X 5100 0 0 GARY L MARTIN VICE CHAIRMAN/CHAIRMAN 1.00 X X 9050 0 0 CHAD LARIMORE DIRECTOR 2.00 X 8700 0 0 ROBERT KUHNS DIRECTOR 3.00 X 9750 0 0 JANET SPORY DIRECTOR 2.00 X 8700 0 0 KENT METZGER ASSISTANT SEC-TREAS/ SEC-TREAS 1.00 X X 7125 0 0 JACK L CLARK DIRECTOR 2.00 X 7300 0 0 DAVID LUECK ALTERNATE DIRECTOR/DIRECTOR 2.00 X 3950 0 0 ROBERT HOLTHAUS ALTERNATE DIRECTOR 1.00 X 700 0 0 ERIC HOBBIE PRESIDENT & CEO 40.00 X 508641 0 231299 BRIAN FITZGERALD VP-GENERATION & MAJOR PROJECTS 40.00 X 181396 0 83533 CRYSTAL RINEY VP FINANCE & ACCOUNTING 40.00 0.50 X 216552 0 70387 JOSEPH SMITH CHIEF TECHNOLOGY OFFICER 48.00 X 224060 0 83031 MICAH BUSHNELL VP PORTFOLIO & MARKETS 40.00 X 214393 0 55210 JEREMY JOHNSON VP-ENGINEERING & OPERATIONS 42.00 X 198724 0 65096 TRACY FUCHS GENERAL COUNSEL 40.00 X 188154 0 72765 RACHEL SEXTON DIRECTOR OF HUMAN RESOURCES 40.00 X 92910 0 52029 RYAN RUPPEL SUPERINTENDENT OF OPERATIONS 43.00 X 137736 0 61152 MARK CLAYTON REAL ESTATE MANAGER 41.00 X 164238 0 50522 SCOTT MASON HEALTH & SAFETY MANAGER 41.00 X 137802 0 23140 CHARLES FOGLEMAN MANAGER OF DISPATCH AND COMPLIANCE 40.00 X 158072 0 41257 COREY MASON ENGINEERING SUPERVISOR II 41.00 X 147749 0 41327 ROBERT HUNZINGER CHAIRMAN/DIRECTOR 3.00 X X 0 0 0 JOSH SHALLENBERGER SECRETARY-TREASURER/VICE CHAIRMAN 3.00 X X 0 0 0 ROBERT SMITH DIRECTOR/ASSISTANT SEC-TREAS 2.00 X X 0 0 0 ALLEN HENDREN ALTERNATE DIRECTOR UNTIL 08/2024 1.00 X 0 0 0 TODD GROTTS DIRECTOR 4.00 X 0 0 0 RANDALL LONG DIRECTOR 3.00 X 0 0 0 JOSH DEWEES DIRECTOR 5.00 X 0 0 0 ALISHA ANKER DIRECTOR 3.00 X 0 0 0 AMY BORNTRAGER DIRECTOR 2.00 X 0 0 0 JIM THOMPSON DIRECTOR 3.00 X 0 0 0 JERRY MEYER ALTERNATE DIRECTOR FROM 08/2024 1.00 X 0 0 0 MIKE CASPER DIRECTOR 1.00 X 0 0 0 2661102 0 930748 41 0 1 0 HANSON PROFESSIONAL SERVICES INC 1525 S SIXTH STREET SPRINGFIELD IL 62703 ENGINEERING CONSULTING SERVICES 2248783 CROSS DISCIPLINE ENGINEERING LLC 63 TRUMAN ROAD STE 100 MARSHFIELD MO 65706 ENGINEERING CONSULTING SERVICES 2094106 BHMG ENGINEERS INC 9735 LANDMARK PARKWAY SUITE 110A ST LOUIS MO 63127 ENGINEERING CONSULTING SERVICES 1752120 TOTH AND ASSOCIATES INC 830 E PRIMROSE SUITE 200 SPRINGFIELD MO 65807 ENGINEERING CONSULTING SERVICES 1728069 S&S TURBINE SERVICES LTD 8636 OLD FORT ROAD FORT ST JOHN BC CA V1J 8B3 OVERHAUL AND REPAIR OF INDUSTRIAL TURBIN 1609805 29 ELECTRIC SALES 221000 148936837 148936837 DISTRIBUTION REVENUE 221000 3324454 3324454 PATRONAGE CAPITAL REVENUE 221000 2521358 2521358 22303923 22303923 177086572 1409848 1409848 24321 0 24321 24321 24321 872747 43617 920688 0 -47941 43617 -4324 -4324 MISCELLANEOUS INCOME 900099 227605 236320 -8715 EQUITY IN EARNINGS OF PPS 900099 68140 68140 295745 178812162 177391032 -8715 1429845 X 21765 8493200 2739165 4199043 1242381 890059 458537 49288 430 294951 1223577 57168 30748556 28021346 1457456 ELECTRIC PURCHASES 35474688 POWER PRODUCTION 31966488 TRANSMISSION 30341672 PROPERTY TAXES 647639 484753 178812162 12848361 13532882 1638156 1065170 17040029 17579840 5867 12984438 16066007 16108085 19966660 996117413 312123535 662631945 683993878 42642052 42674666 326815 304099 766225748 795183202 22170482 28349055 560267157 538579194 48196787 85876542 5025322 3319211 635659748 656124002 X 0 0 0 0 130566000 139059200 130566000 139059200 766225748 795183202 X 0 8493200 X 0 1 X 1 1 1 60198843 60198843 174700294 82440301 92259993 712891393 229683234 483208159 48326883 48326883 683993878 LOAN CAP TERM CERTIFICATES 19153511 C SUBSCRIPTION CAP TERM CERTIFICATES 2252049 C PATRONAGE CAPITAL 16730309 C MISCELLANEOUS INVESTMENTS 4538797 C 42674666 DEFERRED COMPENSATION 89367 OTHER LIABILITY 99504 OPERATING LEASE LIABILITY 24868 DEFERRED REVENUE -FIBER IRU 157734 FINANCIAL TRANSMISSION RIGHTS 501636 ASSET RETIREMENT OBLIGATION 2446102 3319211 X 171119951 0 171119951 7692211 7692211 178812162 162626751 -7692211 -7692211 170318962 8493200 8493200 178812162 PART X, LINE 2: THE COOPERATIVE BELIEVES IT HAS APPROPRIATE SUPPORT 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 XI, LINE 4B - OTHER ADJUSTMENTS: MISO SALES INCLUDED IN EXPENSE ON FINANCIALS 7,692,211. PART XII, LINE 2D - OTHER ADJUSTMENTS: MISO SALES INCLUDED IN REVENUE ON FORM 990 -7,692,211. PART XII, LINE 4B - OTHER ADJUSTMENTS: PATRONAGE CAPITAL ALLOCATIONS 8,493,200. X 1 1 X X 0 1 0 ERIC HOBBIE PRESIDENT & CEO 465866 0 0 0 42775 0 195185 0 41029 0 744855 0 31366 0 BRIAN FITZGERALD VP-GENERATION & MAJOR PROJECTS 177443 0 0 0 3953 0 47509 0 38405 0 267310 0 0 0 CRYSTAL RINEY VP FINANCE & ACCOUNTING 215731 0 0 0 821 0 30810 0 41992 0 289354 0 0 0 JOSEPH SMITH CHIEF TECHNOLOGY OFFICER 218738 0 4500 0 822 0 44008 0 41514 0 309582 0 0 0 MICAH BUSHNELL VP PORTFOLIO & MARKETS 213133 0 0 0 1260 0 30271 0 27310 0 271974 0 0 0 JEREMY JOHNSON VP-ENGINEERING & OPERATIONS 188331 0 0 0 10393 0 30073 0 37122 0 265919 0 0 0 TRACY FUCHS GENERAL COUNSEL 184202 0 2500 0 1452 0 45494 0 29518 0 263166 0 0 0 RYAN RUPPEL SUPERINTENDENT OF OPERATIONS 129786 0 1500 0 6450 0 23129 0 39478 0 200343 0 0 0 MARK CLAYTON REAL ESTATE MANAGER 153409 0 2000 0 8829 0 35885 0 16319 0 216442 0 0 0 SCOTT MASON HEALTH & SAFETY MANAGER 130953 0 1000 0 5849 0 21459 0 3093 0 162354 0 0 0 CHARLES FOGLEMAN MANAGER OF DISPATCH AND COMPLIANCE 155953 0 0 0 2119 0 26026 0 16937 0 201035 0 0 0 COREY MASON ENGINEERING SUPERVISOR II 141326 0 1500 0 4923 0 14632 0 28310 0 190691 0 0 0 PART I, LINE 1A ERIC HOBBIE, PRESIDENT AND CEO, RECEIVES REIMBURSEMENT OF TRAVEL EXPENSES OF HIS SPOUSE WHEN SHE ACCOMPANIES HIM ON PRAIRIE POWER BUSINESS. THIS BENEFIT IS INCLUDED IN TAXABLE INCOME. PART I, LINE 4B ERIC HOBBIE, CEO, PARTICIPATES IN THE 457(F) PLAN. CONTRIBUTIONS AND EARNINGS TO THE PLAN FOR THE YEAR ENDED 12/31/2024 WAS $20,833. SCHEDULE J, PART II, COLUMN C, DEFERRED COMPENSATION INCLUDED IN OTHER COMPENSATION IS THE ESTIMATED CURRENT YEAR INCREASE IN THE ACTUARIAL VALUE OF THE DEFINED BENEFIT PLAN. THESE AMOUNTS DO NOT REPRESENT ANY CURRENT YEAR CONTRIBUTIONS TO THE PLAN. THEY ARE ESTIMATES OF THE INCREASE IN THE ACTUARIAL VALUE OF THE PLANS RECEIVED FROM THE NRECA. THE CURRENT YEAR EXPENSE AND THE INCREASE IN ACTUARIAL VALUE FOR EACH EMPLOYEE ARE REFLECTED IN THE STATEMENT FOR FORM 990, PART VII, COLUMN F. FORM 990, PART VI, SECTION A, LINE 2 *JIM THOMPSON HAS OR HAD A BUSINESS RELATIONSHIP WITH TOM TRAVIS, LAURA MEYER, AND BRENT CLAIR. *AMY BORNTRAGER HAS OR HAD A BUSINESS RELATIONSHIP WITH KENT METZGER AND TOM SHERMAN. *ROBERT HUNZINGER HAS OR HAD A BUSINESS RELATIONSHIP WITH CHAD LARIMORE AND KEVIN MOORE. *RANDY LONG HAS OR HAD A BUSINESS RELATIONSHIP WITH THOMAS MEEHAN III, JULIA EBERLIN, AND JIM FREEMAN. *MIKE CASPER HAS OR HAD A BUSINESS RELATIONSHIP WITH ROBERT KUHNS, ALLEN HENDREN, AND JERRY MEYER. *ROBERT SMITH HAS OR HAD A BUSINESS RELATIONSHIP WITH JERRY RIGGINS, DAVID LUECK, AND JEFF MOORE. *ALISHA ANKER HAS OR HAD A BUSINESS RELATIONSHIP WITH GARY MARTIN AND STEVE WORNER. *JOSH SHALLENBERGER HAS OR HAD A BUSINESS RELATIONSHIP WITH BRENT LIVELY AND ROBERT HOLTHAUS. *JOSH DEWEES HAS OR HAD A BUSINESS RELATIONSHIP WITH JACK CLARK, LYLE NELSON, AND WESLEY STRODE. *TODD GROTTS HAS OR HAD A BUSINESS RELATIONSHIP WITH JANET SPORY AND JAY MORRISON. FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION HAS ONE CLASS OF MEMBERS THAT CONSIST OF TEN ELECTRIC DISTRIBUTION COOPERATIVES IN ILLINOIS. FORM 990, PART VI, SECTION A, LINE 7A EACH DISTRIBUTION COOPERATIVE MEMBER OF PPI NOMINATES TWO PERSONS TO SERVE AS DIRECTORS OF PPI AND ONE PERSON TO SERVE AS AN ALTERNATE DIRECTOR OF PPI TO ACT IN THE ABSENCE OF A DIRECTOR. THE MEMBERS OF PPI ELECT THE DIRECTORS AND ALTERNATE DIRECTORS AT THE ANNUAL MEETING OF MEMBERS OF PPI. FORM 990, PART VI, SECTION A, LINE 7B CERTAIN ACTIONS OF PPI, E.G. MERGER, CONSOLIDATION OR SALE OF SUBSTANTIALLY ALL OF THE ASSETS OF PPI OUTSIDE OF THE ORDINARY COURSE OF BUSINESS, REQUIRE APPROVAL OF PPI'S ELECTRIC DISTRIBUTION COOPERATIVE MEMBERS. FORM 990, PART VI, SECTION B, LINE 11B PRIOR TO FILING, THE FORM 990 WAS REVIEWED BY MANAGEMENT OF PPI. IN ADDITION, THE FORM 990 WAS REVIEWED BY THE PPI FINANCE/LEGAL COMMITTEE, WHICH REPORTED ON THIS REVIEW TO THE FULL BOARD OF DIRECTORS. AFTER THE REVIEW, EVERY MEMBER OF THE BOARD OF DIRECTORS WAS PROVIDED WITH A COPY OF THE FORM 990. FORM 990, PART VI, SECTION B, LINE 12C PPI'S LEGAL COUNSEL ANNUALLY REVIEWS THE CONFLICT OF INTEREST POLICY WITH THE OFFICERS, DIRECTORS, AND KEY EMPLOYEES. EACH DIRECTOR, OFFICER, AND KEY EMPLOYEE MUST ANNUALLY COMPLETE, SIGN, AND SUBMIT THE CONFLICT OF INTEREST CERTIFICATION AND DISCLOSURE FORM TO THE CHAIRMAN OR PRESIDENT/CEO. IF THE CHAIRMAN OR PRESIDENT/CEO RECEIVES A FORM DISCLOSING ANY INFORMATION OR FACT THAT COULD IMPACT A DIRECTOR'S COMPLIANCE WITH THE POLICY, THE CHAIRMAN MUST DISTRIBUTE THE FORM TO THE BOARD. IF THE CHAIRMAN OR PRESIDENT/CEO DISCOVERS ANY OTHER INFORMATION OR FACT, THE CHAIRMAN MUST DISCLOSE THIS TO THE BOARD. UPON RECEIVING OR DISCOVERING ANY INFORMATION OR FACT THAT COULD IMPACT A DIRECTOR'S COMPLIANCE WITH THE POLICY, THE BOARD MUST PROVIDE THE DIRECTOR AN OPPORTUNITY TO COMMENT ORALLY AND IN WRITING REGARDING THE INFORMATION OR FACT, AND AN OPPORTUNITY TO BE REPRESENTED BY LEGAL COUNSEL; AND DETERMINE WHETHER THE DIRECTOR COMPLIES WITH THIS POLICY. IF THE BOARD DETERMINES THAT A DIRECTOR DOES NOT COMPLY WITH THIS POLICY, THEN THE BOARD MUST PROVIDE THE DIRECTOR AN OPPORTUNITY TO COMPLY WITH THE POLICY WITHIN THIRTY DAYS; AND IF THE DIRECTOR DOES NOT COMPLY WITH THE POLICY WITHIN THIRTY DAYS, THEN, AS ALLOWED BY LAW, THE BOARD MUST SANCTION, DISQUALIFY, AND/OR SEEK THE REMOVAL OF THE DIRECTOR. FORM 990, PART VI, SECTION B, LINE 15 THE PRESIDENT AND CEO HAS A WRITTEN EMPLOYMENT CONTRACT APPROVED BY THE BOARD OF DIRECTORS. ANNUALLY THIS EMPLOYMENT CONTRACT IS REVIEWED AND MAY BE REVISED. IN ESTABLISHING THE COMPENSATION FOR THE PRESIDENT AND CEO, THE BOARD OF DIRECTORS REVIEWS INFORMATION AVAILABLE THROUGH INDUSTRY ORGANIZATIONS, INCLUDING THE NATIONAL RURAL ELECTRIC COOPERATIVE ASSOCIATION. THE PRESIDENT AND CEO REVIEW IS CONDUCTED ANNUALLY BY THE BOARD OF DIRECTORS. THE SALARIES OF OTHER STAFF OFFICERS AND KEY EMPLOYEES ARE DETERMINED BY THE PRESIDENT AND CEO. THE PRESIDENT AND CEO ARE PROVIDED NUMEROUS WAGE SURVEYS AS GUIDANCE. ADDITIONALLY, THE PPI BOARD OF DIRECTORS APPROVES AN ANNUAL BUDGET. THE PRESIDENT AND CEO ARE TO DETERMINE SALARIES WITHIN THE BUDGET AMOUNT PROVIDED BY THE BOARD. THESE COMPENSATION REVIEWS ARE CONDUCTED ANNUALLY BY THE SUPERVISORS AND PRESIDENT/CEO. FORM 990, PART VI, SECTION C, LINE 19 PRAIRIE POWER, INC. MAINTAINS ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS IN A CENTRAL LOCATION AT THE ORGANIZATION'S HEADQUARTERS. THESE DOCUMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART VII, COLUMN F AND SCHEDULE J, COLUMN C PER THE INSTRUCTIONS TO FORM 990 PART VII AND SCHEDULE J, THE AMOUNT REPORTED IN DEFERRED COMPENSATION INCLUDES THE ESTIMATED ANNUAL INCREASE IN THE ACTUARIAL VALUE OF THE DEFINED BENEFIT PLAN. THESE AMOUNTS ARE ESTIMATES OF THE INCREASE IN THE VALUE OF THE PLAN AND ARE NOT CURRENT YEAR EXPENSES OF THE COOPERATIVE. THE FOLLOWING AMOUNTS ARE THE CHANGE IN ACTUARIAL VALUE, AS WELL AS THE CURRENT YEAR EXPENSE: ERIC HOBBIE - CHANGE IN ACTUARIAL VALUE: $74,677; ACTUAL EXPENSE: $73,865 JOSEPH SMITH - CHANGE IN ACTUARIAL VALUE: $36,908; ACTUAL EXPENSE: $49,305 CRYSTAL RINEY - CHANGE IN ACTUARIAL VALUE: $23,966; ACTUAL EXPENSE: $47,789 MICAH BUSHNELL - CHANGE IN ACTUARIAL VALUE: $23,599; ACTUAL EXPENSE: $45,450 BRIAN FITZGERALD- CHANGE IN ACTUARIAL VALUE: $41,784; ACTUAL EXPENSE: $38,779 JEREMY JOHNSON - CHANGE IN ACTUARIAL VALUE: $24,051; ACTUAL EXPENSE: $41,798 TRACY FUCHS - CHANGE IN ACTUARIAL VALUE: $39,628; ACTUAL EXPENSE: $40,995 MARK CLAYTON - CHANGE IN ACTUARIAL VALUE: $31,167 ACTUAL EXPENSE: $32,257 CHARLES FOGLEMAN - CHANGE IN ACTUARIAL VALUE: $21,252; ACTUAL EXPENSE: $33,793 RYAN RUPPEL - CHANGE IN ACTUARIAL VALUE: $18,818; ACTUAL EXPENSE: $28,762 COREY MASON - CHANGE IN ACTUARIAL VALUE: $10,048; ACTUAL EXPENSE: $32,131 SCOTT MASON - CHANGE IN ACTUARIAL VALUE: $17,483; ACTUAL EXPENSE: $27,931 RACHEL SEXTON - CHANGE IN ACTUARIAL VALUE: $5,708; ACTUAL EXPENSE: $22,603 FORM 990, PART VII IN ADDITION TO ITS BOARD DIRECTORS, THE ORGANIZATION ALSO HAS ALTERNATE DIRECTORS WHO ATTEND BOARD MEETINGS ON BEHALF OF DIRECTORS WHO AREN'T ABLE TO ATTEND. THE FOLLOWING ALTERNATE DIRECTORS DID NOT DEVOTE ANY TIME TO THE BOARD DURING THE YEAR, AND THEREFORE ARE NOT LISTED ON PART VII: -JULIA EBERLIN -LAURA MEYER -BRENT CLAIR -TOM SHERMAN -KEVIN MOORE -JIM FREEMAN -JEFF MOORE -STEVE WORNER -LYLE NELSON -WESLEY STRODE -JAY MORRISON FORM 990, PART IX, LINE 4 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 BYLAWS OF THE COOPERATIVE. FORM 990, PART XI, LINE 9: PATRONAGE CAPITAL ALLOCATIONS 8,493,200. PRAIRIE POWER SOLAR LLC 3130 PLEASANT RUN SPRINGFIELD IL 62711 471787310 SOLAR GENERATION IL PRAIRIE POWER INC C 68140 1571320 1.00000 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 PRAIRIE POWER SOLAR LLC M 252521 CONTRACT