2025-09-15T12:06:14-05:00 2024-12-31 450250958 EIDE BAILLY LLP 345 N REID PL STE 400 SIOUX FALLS SD 571037034 990 2024-01-01 391884367 WESTERN IOWA POWER COOPERATIVE WEST 7122632943 PO BOX 428 DENISON IA 51442 STEPHANIE WIESE EXECUTIVE VICE PRESIDENT/GM 7122632943 2025-09-05 1 1 LAURIE HANSON CPA P00851848 6053391999 2025-09-02 2024 2025-03-06 01:10:19Z STEPHANIE WIESE PO BOX 428 DENISON IA 51442 15806803 0 X WWW.WIPCO.COM X 1997 IA TO PROVIDE ELECTRIC SERVICE TO MEMBERS. 10 10 35 0 0 0 0 0 14105481 14108784 57936 48898 1110637 776132 15274054 14933814 12997 6797 650000 400000 398652 443405 0 0 0 13164893 13403966 14226542 14254168 1047512 679646 58236839 60282500 28567501 29857912 29669338 30424588 WESTERN IOWA POWER COOPERATIVE'S MISSION IS TO ENHANCE OUR MEMBERS QUALITY OF LIFE BY PROVIDING SAFE AND RELIABLE ELECTRIC SERVICES. 0 0 PROVIDED ELECTRIC SERVICE TO APPROXIMATELY 3,397 MEMBER CONSUMERS OVER 2,078 MILES OF LINE. 0 0 0 0 0 0 0 0 0 1 0 1 0 1 0 0 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 1 1 0 1 23 0 35 1 0 0 0 0 0 0 0 15416497 324134 0 0 0 X 10 10 0 0 0 0 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 0 X STEPHANIE WIESE 7122632943 809 HIGHWAY 39 NORTH DENISON IA 51442 CRAIG RIESBURG TREASURER 2.80 X X 5500 0 0 DAVID CARLSON DIRECTOR UNTIL 08/2024 1.50 X 4950 0 0 JANET IVERSEN CHAIRMAN 4.30 X X 8800 0 0 LOUIS REED DIRECTOR 3.70 X 3850 0 0 MIKE BLUM ASST SECRETARY/TREASURER 5.80 X X 9900 0 0 PETER ALEXANDER SECRETARY 1.80 X X 4675 0 0 ROSS WOOD VICE CHAIR 1.50 X X 2750 0 0 BART HEISTERKAMP DIRECTOR FROM 09/2024 1.30 X X 1375 0 0 BRIAN LUNDELL DIRECTOR 2.30 X 3025 0 0 KENNETH SMITH DIRECTOR 3.20 X 5500 0 0 GARY VOLKERT DIRECTOR 0.80 X 3575 0 0 MARCUS RIHNER - EVP AND GENERAL MANAGER UNTIL 12/2024 45.00 X 157242 0 30313 STEPHANIE WIESE - ASST MGR DIR MBR SERV/INTERIM GM FROM 12/2024 40.00 X 145165 0 37787 JOHN AKERS OPERATIONS MANAGER 40.00 X 146190 0 24231 JUSTIN PARKS CFO 40.00 X 124585 0 33466 CAMERON YOULL FOREMAN 43.50 X 119488 0 13651 MARK TROTTER FOREMAN/STAKING TECHNICIAN 44.40 X 114697 0 30394 CHRISTOPHER MERRITT FOREMAN 42.80 X 111580 0 30540 972847 0 200382 14 0 1 0 STAR ENERGY SERVICES 6841 POWER LANE SW ALEXANDRIA MN 56308 MAPPING SERVICES/POLE & TRANSFORMER INSP 175558 QUALITY COMMUNICATIONS 2419 AIRPORT ST DENISON IA 51442 URD/BORING SERVICES 146420 2 ELECTRIC SALES 221000 14108784 14108784 14108784 40772 40772 6540 0 6540 6540 6540 8126 0 8126 8126 8126 999143 872989 126154 126154 CAPITAL CREDITS 900099 661232 661232 OTHER NONOPERATING 900099 -17794 -17794 643438 14933814 14878376 0 55438 6797 400000 443405 955166 1779829 COST OF POWER 6985108 DISTRIBUTION - MAINTENA 1206477 ADMINISTRATIVE & GENERA 944641 DISTRIBUTION - OPERATIO 915009 617736 14254168 109949 26117 1090727 1446144 72864 1724099 1788028 106149 143715 65473886 16977119 47068501 48496767 8012348 8334027 40766 40766 11436 6936 58236839 60282500 1315748 1386800 735661 676664 25448002 26655071 900000 1000000 168090 139377 28567501 29857912 X 0 0 0 0 29669338 30424588 29669338 30424588 58236839 60282500 X 679646 75604 X X 0 0 0 0 0 36349 36349 1424163 949334 474829 6521964 3738456 2783508 57491410 12289329 45202081 48496767 PATRONAGE CAPITAL 5645309 C GENERAL 1096920 C NONGENERAL 615730 C ECONOMIC DEVELOPMENT PROJECTS 234077 C OTHER SPECIAL FUNDS 741991 C 8334027 POST RETIREMENT BENEFIT OBLIGATION 99671 CUSTOMER DEPOSITS 39706 139377 X X 0 0 0 MARCUS RIHNER - EVP AND GENERAL MANAGER UNTIL 12/2024 157242 0 0 0 0 0 9972 0 22025 0 189239 0 0 0 STEPHANIE WIESE - ASST MGR DIR MBR SERV/INTERIM GM FROM 12/2024 145165 0 0 0 0 0 17482 0 21900 0 184547 0 0 0 JOHN AKERS OPERATIONS MANAGER 146190 0 0 0 0 0 14947 0 10824 0 171961 0 0 0 JUSTIN PARKS CFO 124585 0 0 0 0 0 13161 0 21743 0 159489 0 0 0 FORM 990, SCHEDULE J, PART II AS REQUIRED PER THE INSTRUCTIONS OF FORM 990 AND SCHEDULE J, THE AMOUNT REPORTED IN SCHEDULE J COLUMN C IS THE CHANGE IN ACTUARIAL VALUE IN THE DEFINED BENEFIT PLAN RATHER THAN THE EXPENSE ON THE BOOKS OF THE COOPERATIVE. THE CHANGES IN ACTUARIAL VALUE IN THE DEFINED BENEFIT PLAN ARE AS FOLLOWS: MARCUS RIHNER $6,963 JOHN AKERS $12,029 STEPHANIE WIESE $14,437 JUSTIN PARKS $10,543 THE ACTUAL EXPENSES FOR THE DEFINED BENEFIT PLAN ARE AS FOLLOWS: MARCUS RIHNER $19,183 JOHN AKERS $17,263 STEPHANIE WIESE $17,936 JUSTIN PARKS $15,484 FORM 990, PART VI, SECTION A, LINE 6 WESTERN IOWA POWER COOPERATIVE HAS ONE CLASS OF MEMBERSHIP. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERS OF WESTERN IOWA POWER COOPERATIVE SHALL VOTE BY BALLOT AND EACH VOTING MEMBER SHALL BE ENTITLED TO CAST ONE BALLOT FOR EACH DIRECTOR TO BE ELECTED. THE NOMINATING COMMITTEE SHALL NOMINATE AT LEAST TWO CANDIDATES FOR ELECTION TO THE BOARD OF DIRECTORS. THE NUMBER OF DIRECTORS SHALL BE EQUAL TO THE NUMBER OF DIRECTORS WHOSE TERMS EXPIRE AND THE DIRECTOR SHALL BE ELECTED TO A TERM OF THREE (3) YEARS. FORM 990, PART VI, SECTION A, LINE 7B DECISIONS OF THE BOARD OF DIRECTORS OF WESTERN IOWA POWER COOPERATIVE ARE SUBJECT TO APPROVAL OF THE MEMBERSHIP WHEN THE DECISION IS A CHANGE TO THE ARTICLES OF INCORPORATION. FORM 990, PART VI, SECTION A, LINE 8B THE ORGANIZATION HAS NO COMMITTEES WITH BOARD AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PRESENTED TO WESTERN IOWA POWER COOPERATIVE'S BOARD AT THE MONTHLY BOARD MEETING. ALL PAGES ARE REVIEWED AND COMMENTS ARE ALLOWED FROM THE DIRECTORS DURING THE PROCESS. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD OF DIRECTORS AND GENERAL MANAGER ARE REQUIRED TO FILL OUT A CONFLICT OF INTEREST DISCLOSURE STATEMENT ANNUALLY. THE BOARD PRESIDENT AND THE GENERAL MANAGER REVIEW POTENTIAL CONFLICTS AND MAKE A DECISION AS TO WHETHER A CONFLICT EXISTS. IF A CONFLICT EXISTS CONERNING A BOARD MEMBER, THE BOARD MEMBER WILL ABSTAIN FROM DISCUSSION AND VOTING. IF A CONFLICT EXISTS CONCERNING AN EMPLOYEE, THE MANAGER WILL TAKE THE APPROPRIATE ACTION WITH THE EMPLOYEE. FORM 990, PART VI, SECTION B, LINE 15A THE PROCESS FOR DETERMINING COMPENSATION OF TOP MANAGEMENT OFFICIAL OF WESTERN IOWA POWER COOPERATIVE CONSISTS OF: THE USE OF SALARY SURVEYS FROM NRECA (AN ASSOCIATED ORGANIZATION), IOWA WORKFORCE DATA, AND FORM 990 COMPENSATION FOR SIMILARLY QUALIFIED PERSONS IN COMPARABLE POSITIONS AT SIMILAR ORGANIZATIONS. THE BOARD OF DIRECTORS REVIEWS AND APPROVES THE CEO'S COMPENSATION. THIS PROCESS IS CONDUCTED ANNUALLY AND DOCUMENTED IN THE MEETING MINUTES. FORM 990, PART VI, SECTION C, LINE 19 THE COOPERATIVE HAS A POLICY FOR "INSPECTION OF COOPERATIVE BOOKS AND RECORDS." THE COOPERATIVE WILL PROVIDE COPIES OF THOSE ITEMS THAT FALL UNDER THE PUBLIC DISCLOSURE REQUIREMENTS OF THE IRS. COOPERATIVE BOOKS AND RECORDS WILL NOT BE REMOVED FROM THE COOPERATIVE'S PROPERTY. FORM 990, PART XI, LINE 9: PATRONAGE ALLOCATION 400,000. RETIREMENT OF CAPITAL CREDITS -333,744. GAIN ON RETIREMENT OF CAPITAL CREDITS 32,873. OBSOLETE AMR INVENTORY WRITTEN OFF -23,525. THE ORGANIZATION HAS A FINANCIAL STATEMENT AUDIT FOR THE PERIOD ENDING SEPTEMBER 30. THE MOST RECERNT AUDIT REPORT WAS COMPLETED IN 2024. FORM 990, PART VI, SECTION B, LINE 15A THE GOVERNING BOARD REVIEWS STATE AND NATIONAL COMPENSATION DATA. THE DATA IS THOROUGHLY REVIEWED AND DELIBERATED BY THE INDEPENDENT PERSONS. ALSO THE DELIBERATION AND DECISION IS CONTEMPORANEOUSLY SUBSTANTIATED BY RECORDING IT IN BOARD MINUTES. THIS IS USUALLY DONE ON AN ANNUAL BASIS. MIDLAND DEVELOPMENT CORP PO BOX 428 DENISON IA 51442 421373758 ECONOMIC DEVELOPMENT IA WESTERN IOWA POWER COOPERATIVE C 160038 1237813 1.00000 1 MONREC PO BOX 428 DENSION IA 51442 421368689 ECONOMIC DEVELOPMENT IA WESTERN IOWA POWER COOPERATIVE C 1.00000 1 0 0 0 0 0 0 1 0 0 0 0 0 0 0 1 0 1 1 0 MIDLAND DEVELOPMENT CORP R 230144 ACTUAL AMOUNT PAID MIDLAND DEVELOPMENT CORP G 155250 ACTUAL AMOUNT PAID