2026-07-28T10:21:12-05:00 2025-12-31 450250958 EIDE BAILLY LLP 345 N REID PL STE 400 SIOUX FALLS SD 571037034 990 2025-01-01 420396598 CONSUMERS ENERGY CONS 6417521593 2074 242ND ST MARSHALLTOWN IA 50158 BRIDGET ITZEN CEO/GENERAL MANAGER 6417521593 2026-07-07 1 LAURIE HANSON CPA P00851848 6053391999 2026-07-07 2025 2025-03-06 01:10:19Z BRIDGET ITZEN 2074 242ND ST MARSHALLTOWN IA 50158 26894245 0 X WWW.CONSUMERSENERGY.COOP X 1938 IA SAFELY PROVIDING MEMBERS WITH RELIABLE ELECTRIC ENERGY SERVICE AT AFFORDABLE AND EQUITABLE RATES. 9 9 30 0 69857 0 0 0 24207107 26561663 100377 141006 26806 -131617 24334290 26571052 5350 1246 906338 1023987 3404132 3359415 0 0 0 18917766 20711404 23233586 25096052 1100704 1475000 67464514 69210257 36022147 35910753 31442367 33299504 CONSUMERS ENERGY'S MISSION IS TO PROVIDE OUR MEMBERS WITH RELIABLE ELECTRIC SERVICE IN A SAFE MANNER AT AFFORDABLE AND EQUITABLE RATES. 0 0 THE COOPERATIVE PROVIDED ELECTRIC SERVICE TO A TOTAL OF 6,756 MEMBERS. 0 0 0 0 0 0 0 1 0 1 0 1 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 1 0 0 0 1 16 0 1 30 1 1 1 0 0 0 0 25613549 1309810 0 0 0 X 9 9 0 0 0 0 1 1 1 1 0 0 0 1 1 1 1 1 1 1 1 0 X BRIDGET ITZEN 6417521593 2074 242ND STREET MARSHALLTOWN IA 50158 X DENNIS BECKMAN PRESIDENT 5.31 X X 8620 0 0 CRAIG GRIFFIEON VICE PRESIDENT 2.58 X X 5260 0 0 PATRICIA VONAHNEN SECRETARY/TREASURER 4.86 X X 9910 0 0 ROBERT MEIMANN ASST SECRETARY/TREASURER 2.01 X X 4575 0 0 WILLIAM HOBSON DIRECTOR 3.31 X X 6298 0 0 ANTHONY LEM DIRECTOR 5.24 X X 4840 0 0 STEVE QUICK DIRECTOR 2.70 X 4840 0 0 JENNIFER SEASE DIRECTOR 1.26 X X 3720 0 0 ARDEN GREINER DIRECTOR (LEFT IN AUG '25) 4.88 X 4508 0 0 KEN GRANT DIRECTOR (AS OF AUG '25) 1.22 X 1450 0 0 BRIDGET ITZEN CEO/GENERAL MANAGER 50.00 X 201620 0 123716 KEVIN PETERSON COO/OPERATION MANAGER 50.00 X 166563 0 150157 ELLIOT MAYLAND OPERATIONS SUPERVISOR 40.00 X 129385 0 98669 GAIL HULL MEMBER SERVICES/HR MANAGER 40.00 X 124857 0 134547 RICK DOLASH LEAD LINEMAN 40.00 X 123973 0 95356 JUSTIN KRUEGER FINANCE MANAGER 40.00 X 119618 0 65733 JAMES HARGER LEAD LINEMAN 40.00 X 119404 0 96185 1039441 0 764363 13 0 1 0 GILL'S TREE SERVICE 104 E CHICAGO ST ALBION IA 50005 TREE TRIMMING 322445 HEARTLAND UNDERGROUND 5701 NE 17TH ST DES MOINES IA 50313 UNDERGROUND LOCATOR 320771 LEGACY POWER LINE INC 12822 US-10 WADENA MN 56482 ELECTRICAL CONTRACTOR 179075 VANNGUARD UTILITY PARTNERS INC 5927 HAASE RD DEFOREST WI 53532 UNDERGROUND LOCATOR 160214 CROSSROADS MOBILE MAINTENANCE 209A IND PARK DR WILLIAMSBURG IA 52361 MOBILE MECHANIC 144913 5 SALE OF POWER 221000 25099441 25029664 69777 COOP CAPITAL CREDITS 221000 1430936 1430856 80 OTHER NON-OPERATING 531390 31286 31286 26561663 132006 132006 9000 0 9000 9000 9000 191576 323193 -131617 -131617 26571052 26360189 69857 141006 1246 1023987 548681 2167763 449637 193334 1450319 2364039 COST OF POWER 14876570 ADMIN & GENERAL 1659809 DISTRIBUTION-MAINTENANC 1519112 DISTRIBUTION-OPERATIONS 1202774 -2361219 25096052 3603211 3764720 2683428 3065999 1228125 1384442 3231139 3778135 946564 375635 74575673 28400236 45617976 46175437 10064086 10580778 89985 85111 67464514 69210257 2497294 2429163 1445 1364 30576812 30641295 750000 750000 2196596 2088931 36022147 35910753 X 0 0 0 0 31442367 33299504 31442367 33299504 67464514 69210257 X 1475000 382137 X 0 1 X 1 0 0 1 X 249098 249098 2652777 2216009 436768 71057993 26184227 44873766 615805 615805 46175437 CENTRAL IOWA POWER COOPERATIVE 7864251 C NATIONAL RURAL UTILITIES COOPERATIVE FINANCE CORPORATION 1924088 C FEDERATED RURAL ELECTRIC INSURANCE 232692 C RURAL ELECTRIC SUPPLY COOPERATIVE 380040 C NATIONAL RURAL TELECOMMUNICATIONS COOPERATIVE 72230 C NATIONAL INFORMATION SERVICE COOPERATIVE 82391 C OTHER INVESTMENTS 25086 C 10580778 CUSTOMER DEPOSITS 2050509 DEFERRED CREDITS 38422 2088931 X 26571052 0 26571052 0 26571052 24072065 0 24072065 1023987 1023987 25096052 PART IV, LINE 2B: OPERATION ROUNDUP FUND BALANCE PART X, LINE 2: THE COOPERATIVE EVALUATES ITS TAX POSITIONS THAT HAVE BEEN TAKEN OR ARE EXPECTED TO BE TAKEN ON INCOME TAX RETURNS TO DETERMINE IF AN ACCRUAL IS NECESSARY FOR UNCERTAIN TAX POSITIONS. AS OF DECEMBER 31, 2025 AND 2024, THE UNRECOGNIZED TAX BENEFITS ACCRUAL WAS ZERO. PART XII, LINE 4B - OTHER ADJUSTMENTS: ALLOCATION OF 2025 MARGINS TO MEMBERS IN 2026 1,023,987. X X X 0 0 0 BRIDGET ITZEN CEO/GENERAL MANAGER 184781 0 14423 0 2416 0 108910 0 16283 0 326813 0 0 0 KEVIN PETERSON COO/OPERATION MANAGER 152056 0 3453 0 11054 0 122599 0 28841 0 318003 0 0 0 GAIL HULL MEMBER SERVICES/HR MANAGER 121041 0 3453 0 363 0 104028 0 31523 0 260408 0 0 0 ELLIOT MAYLAND OPERATIONS SUPERVISOR 128675 0 453 0 257 0 70646 0 29120 0 229151 0 0 0 RICK DOLASH LEAD LINEMAN 122245 0 453 0 1275 0 83177 0 13059 0 220209 0 0 0 JAMES HARGER LEAD LINEMAN 118797 0 453 0 154 0 67158 0 29907 0 216469 0 0 0 JUSTIN KRUEGER FINANCE MANAGER 116460 0 2953 0 205 0 38146 0 28466 0 186230 0 0 0 FORM 990, PART VII, COLUMN F, OTHER COMPENSATION: INCLUDED IN THE AMOUNT REPORTED IN COLUMN C IS CHANGE IN ACTUARIAL VALUE OF THE DEFINED BENEFIT PLAN OF $104,341 FOR BRIDGET ITZEN, $118,581 FOR KEVIN PETERSON, $67,411 FOR ELLIOT MAYLAND, $35,133 FOR JUSTIN KRUEGER, $80,166 FOR RICK DOLASH, $100,871 FOR GAIL HULL, AND $64,151 FOR JAMES HARGER. ACTUAL COOPERATIVE CONTRIBUTIONS TO THE PLAN WERE $38,806 FOR BRIDGET ITZEN, $33,962 FOR KEVIN PETERSON, $26,804 FOR ELLIOT MAYLAND, $24,852 FOR JUSTIN KRUEGER, $24,891 FOR RICK DOLASH, $26,187 FOR GAIL HULL, AND $24,759 FOR JAMES HARGER. FORM 990, PART VI, SECTION A, LINE 6 EACH MEMBER HOLDS A MEMBERSHIP OF THE SAME CLASS. FORM 990, PART VI, SECTION A, LINE 7A ALL MEMBERS ARE ENTITLED TO ONE VOTE. FORM 990, PART VI, SECTION A, LINE 7B ANY CHANGES TO THE ARTICLES OF INCORPORATION WILL REQUIRE A VOTE FROM THE MEMBERSHIP. FORM 990, PART VI, SECTION A, LINE 8B COMMITTEES DO NOT HAVE THE AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. THEY CAN ONLY BRING RECOMMENDATIONS TO THE FULL BOARD. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 WILL BE PRESENTED TO THE BOARD OF DIRECTORS AT THE BOARD MEETING PRIOR TO BEING FILED WITH THE IRS. EACH DIRECTOR WILL RECEIVE A COPY OF THE FORM 990. THE CEO/GENERAL MANAGER WILL CONDUCT THE REVIEW. FORM 990, PART VI, SECTION B, LINE 12C ANNUAL CONFLICT OF INTEREST DISCLOSURE STATEMENTS ARE COMPLETED BY DIRECTORS AND OFFICERS. ONCE COMPLETED, THE STATEMENTS ARE REVIEWED BY THE BOARD OF DIRECTORS. THE FULL BOARD DETERMINES IF A CONFLICT OF INTEREST EXISTS. IF THERE IS A CONFLICT OF INTEREST, THE AFFECTED PARTY MUST ABSTAIN FROM DISCUSSION AND VOTING ON THE MATTER. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION OF THE CEO IS DETERMINED BY THE BOARD OF DIRECTORS. OTHER OFFICERS ARE SUBJECT TO THE COMPENSATION PLAN OF CONSUMERS ENERGY WHICH INCLUDES MARKET ANALYSIS OF JOB POSITIONS. THE BOARD OF DIRECTORS HAVE A POLICY IN PLACE REGARDING PER DIEM AND EXPENSE REIMBURSEMENTS, WHICH INCLUDES PERIODIC MARKET ANALYSIS OF STATE WIDE COOPERATIVE PER DIEMS. THE PROCESS IS UNDERTAKEN ANNUALLY. THE BOARD OF DIRECTORS, WITH INPUT FROM THE GENERAL MANAGER, DETERMINES THE AMOUNT OF ANNUAL INCREASES FOR ALL EMPLOYEES. ANNUAL PERFORMANCE REVIEWS ARE CONDUCTED FOR ALL EMPLOYEES. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART VII, COLUMN F, OTHER COMPENSATION: INCLUDED IN OTHER COMPENSATION IS THE ESTIMATED CURRENT YEAR INCREASE OR DECREASE IN THE ACTUARIAL VALUE OF THE DEFINED BENEFIT PLAN FOR THE GENERAL MANAGER, OPERATIONS MANAGER, AND AREA SUPERVISORS. THE CURRENT YEAR INCREASE OR DECREASE DOES NOT REPRESENT CURRENT YEAR CONTRIBUTIONS TO THE PLAN. RATHER, IT IS AN ESTIMATE OF THE INCREASE OR DECREASE IN THE ACTUARIAL VALUE OF THE PLAN AS CALCULATED BY THE PLAN ADMINISTRATOR. FORM 990 PART VII THE CEO/GENERAL MANAGER ACTS AS CFO FOR THE ORGANIZATION. FORM 990, PART XI, LINE 9: PATRONAGE RETIRED -800,025. ALLOCATION OF 2025 MARGINS TO MEMBERS IN 2026 1,023,987. DONATED CAPITAL - FORFEITED PATRONAGE 158,175. FORM 990, PART IX, LINE 24E STATEMENT OF FUNCTIONAL EXPENSES: THE LABOR, PENSION AND PAYROLL TAXES REPORTED ON LINES 5-10 ARE INCLUDED IN DISTRIBUTION EXPENSE, ADMINISTRATIVE & GENERAL EXPENSE AND CUSTOMER EXPENSE. THEREFORE, LABOR, PENSION AND PAYROLL TAXES ARE SHOWN AS A REDUCTION TO OTHER EXPENSES ON LINE 24E. FORM 990, PART IX, LINE 4, BENEFITS PAID TO OR FOR MEMBERS: 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 BY-LAWS OF THE COOPERATIVE. CONSUMERS DEVELOPMENT LLC 2074 242ND STREET MARSHALLTOWN IA 50158 680591841 DEVELOPING COMMERCIAL PROPERTY IA 69857 125047 CONSUMERS ENERGY