2025-07-31T15:26:02-05:00 2024-12-31 410746749 CLIFTONLARSONALLEN LLP 2689 COMMERCE DRIVE NW SUITE 201 ROCHESTER MN 55901 990 2024-01-01 420245083 FARMERS ELECTRIC COOPERATIVE FARM 3196832510 1959 YODER AVE SW KALONA IA 52247 TIM HEISDORFFER GENERAL MANAGER 3196832510 2025-07-31 1 0 KATHERINE LUTZKE CPA P01760889 5072802300 2025-07-31 2024 2025-03-06 01:10:19Z TIM HEISDORFFER 1959 YODER AVE SW KALONA IA 52247 3537877 0 X WWW.FECKALONA.NET X 1916 IA PROVIDING ELECTRIC SERVICES TO MEMBERS 5 5 5 0 34360 17513 0 0 2639901 2772182 50502 63742 31018 701953 2721421 3537877 0 0 0 0 127091 125111 0 0 0 2518087 2692352 2645178 2817463 76243 720414 7249296 7023751 982016 241470 6267280 6782281 PROVIDING ELECTRIC SERVICES TO MEMBER PATRONS 0 0 PROVIDING ELECTRIC SERVICES TO MEMBER PATRONS 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 1 7 0 1 5 1 1 1 0 0 0 0 3501609 63742 0 0 0 X 5 5 0 0 0 0 1 1 1 1 0 0 0 1 1 1 1 0 1 1 0 0 X TIM HEISDORFFER 3196832510 1959 YODER AVE SW KALONA IA 52247 DEAN MILLER PRESIDENT 1.00 0.00 X X 3750 0 0 DOUG SLABAUGH VICE PRESIDENT 1.00 0.00 X X 3510 0 0 STEVE HAMAN SECRETARY 1.00 0.00 X X 3310 0 0 JOHN MAST DIRECTOR 1.00 0.00 X 3255 0 0 KEITH TROYER DIRECTOR 1.00 0.00 X 3510 0 0 TIM HEISDORFFER GENERAL MANAGER 40.00 0.00 X 91190 0 16586 108525 0 16586 0 0 0 0 0 SALE OF ELECTRICITY 221000 2772182 2772182 2772182 63742 63742 MISCELLANEOUS INCOME 900099 685589 34360 651229 EQUITY FROM SUB 900099 16364 16364 701953 3537877 2772182 34360 731335 125111 36586 526185 COST OF POWER 1342944 GENERAL & ADMIN 410421 DISTRIBUTION - MAINTENA 345248 CONSUMER ACCOUNTS 17952 13016 2817463 44651 83738 991382 741898 243839 276113 194353 163208 43585 18102 11388778 6361297 4981287 5027481 464026 409378 286173 303833 7249296 7023751 171322 237019 805103 0 5591 4451 982016 241470 X 0 0 0 0 6267280 6782281 6267280 6782281 7249296 7023751 X 720414 -54770 -150643 X 0 1 X 1 0 138543 138543 310408 172351 138057 10662919 6011678 4651241 276908 177268 99640 5027481 CUSTOMER DEPOSITS 4451 4451 X 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, 2024 AND 2023. FORM 990, PART VI, SECTION A, LINE 6 CUSTOMERS RECIEVING ELECTRIC SERVICES HAVE THE OPTION TO PURCHASE MEMBERSHIPS. IF A CUSTOMER REFUSES TO PURCHASE A MEMBERSHIP, SERVICE IS STILL OFFERED, BUT NO PATRONAGE IS RECEIVED. THE MEMBERSHIP IS REFUNDABLE UPON TERMINATION OF SERVICES. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS MEET AT AN ANNUAL MEETING TO ELECT THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 7B CERTAIN ACTIONS OF THE BOARD DO REQUIRE APPROVAL BY MEMBERS INCLUDING CHANGES TO THE ARTICLES OF INCORPORATION AND PLANS TO MERGE OR SELL ASSETS. FORM 990, PART VI, SECTION A, LINE 8B THE ORGANIZATION DOES NOT HAVE ANY COMMITTEES THAT HAVE AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B AN INDEPENDENT ACCOUNTING FIRM PREPARES AND REVIEWS THE 990. THE 990 IS THEN REVIEWED BY THE ORGANIZATION'S OFFICERS AND ACCOUNTING PERSONNEL. ANY QUESTIONS AND CONCERNS THE ORGANIZATION'S OFFICERS AND ACCOUNTING PERSONNEL HAVE ARE ADDRESSED AND ANY CORRECTIONS OR CLARIFICATIONS THAT NEED TO BE MADE ARE MADE. THE 990 IS THEN PROVIDED TO THE FINANCE COMMITTEE OF THE BOARD FOR THEIR REVIEW PRIOR TO FILING THE 990. ANY QUESTIONS AND CONCERNS THE FINANCE COMMITTEE HAVE ARE ADDRESSED ANY ANY CONCERNS OR CLARIFICATIONS THAT NEED TO BE MADE ARE MADE. THE FINAL FORM 990 WITH ALL REQUIRED SCHEDULES IS THEN PROVIDED TO ALL VOTING MEMBERS OF THE BOARD PRIOR TO FILING THE 990. FORM 990, PART VI, SECTION B, LINE 12C A WRITTEN CONFLICT OF INTEREST POLICY IS DOCUMENTED IN THE COOPERATIVE'S ARTICLES OF INCORPORATION AND BY-LAWS. ALL BOARD MEMBERS ARE COVERED BY THE POLICY. IF ANY CONFLICTS ARE DETERMINED TO EXIST, THE MANGER AND BOARD OF DIRECTORS WILL REVIEW THE CONFLICT AND MAKE RECOMMENDATIONS. ELECTION TO THE BOARD OF DIRECTORS IS PROHIBITED IF THERE IS ANY VIOLATION OF THE POLICY WHICH IS ENFORCED BY A NOMINATION COMMITTEE. IF ANY CONFLICT WERE TO EXIST, THE PROCEEDINGS WOULD BE DOCUMENTED IN THE BOARD MINUTES. FORM 990, PART VI, SECTION B, LINE 15A MANAGEMENT'S COMPENSATION IS DETERMINED ANNUALLY BY THE BOARD OF DIRECTORS. THE DIRECTORS RECEIVE INFORMATION FROM THE IOWA ASSOCIATION OF ELECTRIC COOPERATIVES ABOUT DIRECTORS COMPENSATION LEVELS IN THE STATE IN THE FORM OF SURVEY INFORMATION AND CONSIDER WHETHER FEES ARE REASONABLE OR AN INCREASE IS WARRANTED BASED UPON TYPICAL COMPENSATION FOR THE DUTIES PERFORMED. THIS PROCESS IS DOCUMENTED IN THE BOARD MINUTES. THE PROCESS WAS LAST COMPLETED IN 2024. FORM 990, PART VI, SECTION C, LINE 19 FARMERS ELECTRIC COOPERATIVE'S FINANCIAL REPORTS ARE MADE AVAILABLE TO ITS MEMBERS AT THE ANNUAL MEETING. THE IRS FORM 990 AND OTHER GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: PATRONAGE CAPITAL RETIRED -151,778. CHANGES IN OTHER EQUITIES 1,135. FARMERS PLUS INC 1959 YODER AVENUE SW KALONA IA 52247 391892039 ELECTRICITY IA FARMERS ELECTRIC COOPERATIVE C 98368 334679 1.00000 1 0 0 0 0 0 0 0 0 0 0 0 1 0 1 1 0 0 0 0