2026-03-31T11:43:11-05:00 2025-12-31 410746749 CLIFTONLARSONALLEN LLP 2689 COMMERCE DRIVE NW SUITE 201 ROCHESTER MN 55901 990 2025-01-01 420557125 TIP RURAL ELECTRIC COOPERATIVE TIPR 8009347976 320 INDUSTRIAL DRIVE PO BOX 534 BROOKLYN IA 522110534 SCOTT LONG CEO/GENERAL MANAGER 8009347976 2026-03-05 1 KATHERINE LUTZKE CPA P01760889 5072802300 2026-03-05 2025 2025-03-06 01:10:19Z SCOTT LONG 320 INDUSTRIAL DRIVE PO BOX 534 BROOKLYN IA 522110534 19106234 0 X WWW.TIPREC.COM X 1938 IA PROVIDING ELECTRIC SERVICE TO 5,074 MEMBERS (6,613 ACCOUNTS) 8 8 31 0 0 0 0 0 16989038 18036956 133444 89681 998286 954709 18120768 19081346 0 0 978739 945945 3285355 3543857 0 0 0 13285525 14079321 17549619 18569123 571149 512223 61257140 62045291 32359719 32356896 28897421 29688395 TO PROVIDE SAFE, RELIABLE ELECTRICITY AT A COMPETITIVE COST AND PURSUE EXCELLENCE IN TECHNOLOGY, SERVICE, AND MEMBER RELATIONS FOR THE BENEFIT OF OUR MEMBERS AND THE COMMUNITIES WE SERVE. 0 0 THE COOPERATIVE SOLD 146,157,640 KILOWATT HOURS OF ELECTRIC ENERGY TO ITS 5,074 MEMBER CONSUMERS DURING 2025 FOR RECORDED PROGRAM SERVICE REVENUE OF $18,036,956. THIS REPRESENTS 95% OF THE TOTAL REVENUE FOR THE COOPERATIVE FOR CALENDAR YEAR 2025. 0 0 0 0 0 0 0 0 0 1 0 0 1 0 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 26 0 31 1 0 0 0 0 0 18426711 968552 0 0 0 X 8 8 0 0 1 0 1 1 1 1 0 0 0 1 1 1 1 1 1 1 1 0 X JASON JACK 8009347976 320 INDUSTRIAL DRIVE PO BOX 534 BROOKLYN IA 522110534 JERRY HENNING PRESIDENT 8.35 X X 16896 0 36 RANDY UPAH VICE PRESIDENT 4.48 X X 10266 0 36 ARIANNE AXMEAR SECRETARY/TREASURER 5.08 X X 12871 0 36 LISA TICHY ASST. SECRETARY 6.56 X X 11363 0 36 RONALD HOFFMAN DIRECTOR 8.98 X 14443 0 28 GENE VON AHSEN DIRECTOR 4.23 X 11395 0 36 JAMES DE SMET DIRECTOR 3.92 X 11008 0 31 CRAIG STALLMAN DIRECTOR 7.27 X 11686 0 36 SCOTT LONG CEO/GENERAL MANAGER 50.73 X 173144 0 58144 TERRY KLOPPENBURG CFO 46.76 X 122620 0 52767 COLE CALKINS STAKING TECHNICIAN/MEMBER SERVICE 44.00 X 119180 0 51827 KENDALL BUNN JOURNEYMAN LINEMAN 43.34 X 110019 0 33462 ADAM HAWKINS LINE FOREMAN 44.19 X 118661 0 26877 TANNER MEEKS JOURNEYMAN LINEMAN 43.02 X 108283 0 33155 SEAN STUTZMAN JOURNEYMAN LINEMAN 44.94 X 111465 0 46086 963300 0 302593 12 0 1 0 FRIEST TREE EXPERTS LLC 47732 273RD ST HARRISBURG SD 57032 151825 1 REVENUE FROM ELECTRIC SALES 221000 18036956 18036956 18036956 114569 114569 24888 -24888 -24888 -24888 G&T CAPITAL CREDITS 221000 739903 739903 MISC CAPITAL CREDITS 221000 108878 108878 OTHER ELECTRIC REVENUE 221000 100727 100727 5201 5201 954709 19081346 18991665 0 89681 X 945945 487831 2035773 462709 369464 188080 10179 21945 1403074 1639303 PURCHASED POWER 9711977 OVERHEAD LINE EXPENSES 678810 MAINTENANCE OF OVERHEAD 491864 MAINTENANCE OF OVERHEAD 245048 -122879 18569123 124210 86002 253234 521028 1585067 1716260 1296491 1293068 345658 250598 66686940 16674075 49428713 50012865 1603109 1553765 6620658 6611705 61257140 62045291 2364590 2419391 29993340 29937505 1789 0 32359719 32356896 X 0 0 0 0 28897421 29688395 28897421 29688395 61257140 62045291 X 512223 278751 X X 0 1 X 1 0 9335 152872 162207 11917671 1013060 10904611 5195727 2683010 2512717 49411335 12978005 36433330 50012865 INTEREST & DIVIDENDS RECEIVABLE 14019 INVESTMENTS IN ECONOMIC DEVELOPMENT-GRMC 22500 INVESTMENTS-CFC PATRONAGE 872741 INVESTMENTS-CIPCO PATRONAGE 3662265 INVESTMENTS-NISC PATRONAGE 74262 INVESTMENTS-RESCO PATRONAGE 213247 OTHER INVESTMENTS IN ASSOCIATED ORGANIZATIONS 174871 OTHER INVESTMENTS IN ASSOCIATED ORGANIZATIONS-TELEPHONE STOCK 25 INVESTMENTS IN ECONOMIC DEVELOPMENT-MAYFLOWER 213000 INVESTMENTS IN ECONOMIC DEVELOPMENT-HOLDER HOLDINGS 233712 INVESTMENTS IN ECONOMIC DEVELOPMENT-BROOKLYN RURITA 26452 INVESTMENTS IN ECONOMIC DEVELOPMENT - USDA 1043361 INVESTMENTS IN ECONOMIC DEVELOPMENT - PRAIRIE SAGE L 61250 6611705 X 19081346 0 19081346 0 19081346 17623178 0 17623178 945945 945945 18569123 PART X, LINE 2: THE COOPERATIVE IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(12) OF THE INTERNAL REVENUE CODE AND A SIMILAR SECTION OF THE IOWA INCOME TAX LAW. THE COOPERATIVE FILES INFORMATION RETURNS IN THE U.S. FEDERAL JURISDICTION. THE COOPERATIVE DETERMINED THAT IT WAS NOT REQUIRED TO RECORD A LIABILITY RELATED TO UNCERTAIN TAX POSITIONS AT DECEMBER 31, 2025 AND 2024. THE FEDERAL INFORMATION RETURNS OF THE COOPERATIVE FOR DECEMBER 31, 2025 AND THEREAFTER ARE SUBJECT TO EXAMINATION BY THE IRS, GENERALLY FOR THREE YEARS AFTER THEY WERE FILED. PART XII, LINE 4B - OTHER ADJUSTMENTS: PATRONAGE DIVIDENDS ALLOCATED 945,945. X X X X 0 0 0 SCOTT LONG CEO/GENERAL MANAGER 173144 0 0 0 0 0 39095 0 19049 0 231288 0 0 0 TERRY KLOPPENBURG CFO 122620 0 0 0 0 0 28192 0 24575 0 175387 0 0 0 COLE CALKINS STAKING TECHNICIAN/MEMBER SERVICE 119180 0 0 0 0 0 27264 0 24563 0 171007 0 0 0 SEAN STUTZMAN JOURNEYMAN LINEMAN 111465 0 0 0 0 0 25227 0 20859 0 157551 0 0 0 PART I, LINE 3 DATA FROM A COMPENSATION SURVEY WITH INFORMATION ON CEO/GENERAL MANAGER SALARIES FROM OTHER RURAL ELECTRIC COOPERATIVES IN IOWA, IN OUR REGION, AND ACROSS THE UNITED STATES WAS USED TO HELP DETERMINE THE PROPER COMPENSATION. ALSO, THE CPI COST OF LIVING FIGURES FROM THE DEPARTMENT OF LABOR WERE USED. THE CONTRACT WAS REVIEWED AND APPROVED BY THE BOARD FOR 2 YEARS. FORM 990, PART VI, SECTION A, LINE 4 DURING THE TAX YEAR, THE ORGANIZATION AMENDED ITS BYLAWS TO CLARIFY BOARD ELIGIBILITY BY PROVIDING THAT FORMER CEOS OR GENERAL MANAGERS OF THE ORGANIZATION ARE NOT ELIGIBLE TO SERVE AS MEMBERS OF THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 6 THE COOPERATIVE HAS 5,074 MEMBER-OWNERS. THESE MEMBER-OWNERS SIGN A MEMBERSHIP FORM IN ORDER TO RECEIVE ELECTRIC SERVICE AND HAVE VOTING RIGHTS IN THE COOPERATIVE. FORM 990, PART VI, SECTION A, LINE 7A THE COOPERATIVE'S MEMBER-OWNERS HOLD AN ANNUAL MEETING IN AUGUST OF EACH YEAR TO: 1) HEAR THE REPORTS OF OFFICERS, DIRECTORS, AND COMMITTEES; 2) ELECT DIRECTORS BY GEOGRAPHICAL SECTORS FOR TERMS OF 3 YEARS, WITH STAGGERING DIRECTOR TERMS; 3) ANY OTHER BUSINESS THAT MAY COME BEFORE THE MEMBERSHIP. FORM 990, PART VI, SECTION A, LINE 7B THE BOARD OF DIRECTORS OF THE COOPERATIVE MAY NOT MAKE ANY CHANGES TO THE ARTICLES OF INCORPORATION WITHOUT APPROVAL OF THE MEMBERSHIP AT A MEMBERSHIP MEETING. FORM 990, PART VI, SECTION A, LINE 8B THERE ARE NO COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B T.I.P. RURAL ELECTRIC COOPERATIVE RETAINED THE SERVICES OF CLIFTONLARSONALLEN LLP TO REVIEW ITS 2025 FORM 990 AND RELATED SCHEDULES FOR COMPLETENESS AND ACCURACY. CLIFTONLARSONALLEN LLP HAD A CPA, LUKE GREDEN, DO A FULL REVIEW OF THE FORM 990 WITH THE COOPERATIVE'S BOARD OF DIRECTORS ON 3/25/26. FORM 990, PART VI, SECTION B, LINE 12C DIRECTORS, OFFICERS OR EMPLOYEES SHALL NOT CONDUCT ANY BUSINESS FOR THE COOPERATIVE THAT MAY BE DEEMED TO BE A CONFLICT OF INTEREST. EACH MEMBER OF THE BOARD OF DIRECTORS AND THE CEO/GENERAL MANAGER ANNUALLY FILL OUT A "CONFLICT OF INTEREST" QUESTIONNAIRE TO DISCLOSE ANY CONFLICTS THAT MAY OCCUR. INDIVIDUALS WHO REASONABLY BELIEVE THAT THEY HAVE INFORMATION REGARDING A VIOLATION OF THIS POLICY SHOULD BRING THEIR CONCERNS TO THE ATTENTION OF THE PRESIDENT OR THE CEO/GENERAL MANAGER. ANY REPORT OF A VIOLATION OF THIS POLICY DELIVERED IN GOOD FAITH WILL BE INVESTIGATED PROMPTLY AND, IF REQUIRED, APPROPRIATE ACTION FOR THE INFRACTION WILL BE TAKEN BY THE BOARD OR MANAGEMENT AFTER DUE CONSIDERATION OF ALL FACTS AND CIRCUMSTANCES. ANY GIFT OF MORE THAN A NOMINAL VALUE ($300) SHOULD NOT BE ACCEPTED BY ANY DIRECTOR, OFFICER, OR EMPLOYEE. DIRECTORS, OFFICERS OR EMPLOYEES OF T.I.P. RURAL ELECTRIC COOPERATIVE SHOULD NOT ACCEPT ANY BONUS, COMMISSION OR OTHER FEE FROM ANY SUPPLIER OR VENDOR, IN THE PERFORMANCE OF THEIR ASSIGNED RESPONSIBILITIES. ALL DIRECTORS AND OFFICERS ARE REQUIRED TO SIGN THE POLICY ANNUALLY. FORM 990, PART VI, SECTION B, LINE 15 DATA FROM A COMPENSATION SURVEY WITH INFORMATION ON CEO/MANAGER SALARIES FROM OTHER RURAL ELECTRIC COOPERATIVES IN IOWA, IN OUR REGION, AND ACROSS THE UNITED STATE WAS USED TO HELP DETERMINE THE PROPER COMPENSATION. ALSO, THE CPI COST OF LIVING FIGURES FROM THE DEPARTMENT OF LABOR WERE USED. THE CONTRACT WAS REVIEWED AND APPROVED BY THE BOARD FOR 2 YEARS. THIS PROCESS IS DOCUMENTED IN THE BOARD MINUTES. DATA FROM A COMPENSATION SURVEY WITH INFORMATION OF DIRECTOR'S PER DIEM FROM OTHER RURAL ELECTRIC COOPERATIVES IN IOWA, IN OUR REGION, AND ACROSS THE UNITED STATES WAS USED TO HELP DETERMINE THE PROPER COMPENSATION. ALSO, THE CPI COST OF LIVING FIGURES FROM THE DEPARTMENT OF LABOR WERE USED. THIS IS REVIEWED AND APPROVED BY THE BOARD ON AN ANNUAL BASIS. THIS PROCESS IS DOCUMENTED IN THE BOARD MINUTES. THE MOST RECENT YEAR IN WHICH THE PROCESS WAS REVIEWED AND APPROVED WAS 2024. FORM 990, PART VI, SECTION C, LINE 18 ALL DOCUMENTS LISTED ARE AVAILABLE FOR INSPECTION AND REVIEW AT THE COOPERATIVE'S MAIN OFFICE IN BROOKLYN, IOWA. THE FORM 990 IS ALSO AVAILABLE TO THE PUBLIC ON THE FOLLOWING WEB SITE: HTTP://WWW.GUIDESTAR.ORG/. FORM 990, PART VI, SECTION C, LINE 19 ALL DOCUMENTS LISTED ARE AVAILABLE FOR INSPECTION AND REVIEW AT THE COOPERATIVE'S MAIN OFFICE IN BROOKLYN, IOWA. THE FORM 990 IS ALSO AVAILABLE TO THE PUBLIC ON THE FOLLOWING WEB SITE: HTTP://WWW.GUIDESTAR.ORG/. 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. FORM 990, PART XI, LINE 9: PATRONAGE DIVIDENDS ALLOCATED 945,945. PATRONAGE RETIRED -665,143. MISCELLANEOUS ADJUSTMENT -2,051. FORM 990 PART XII LINE 2C: THE BOARD OF DIRECTORS ASSUME RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT. THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.