2023-03-31T12:15:13-07:00 2022-12-31 990 2022-01-01 420655796 CORN BELT POWER COOPERATIVE CORN 5153322571 PO Box 508 Humboldt IA 50548 Karen Berte Sr. VP Finance & Administration 5153327731 2023-03-03 1 1 11 0 AAL2 2022 2023-04-26 12:10:37Z David Onken 14682 Quail Avenue Glidden IA 51443 168893187 0 X www.cbpower.coop X 1947 IA Generating and transmitting electrical energy to our members. 9 9 93 0 0 0 0 0 159229741 167546382 1612812 1341738 432 5067 160842985 168893187 0 0 10941000 23810000 10352082 10752590 0 0 0 138210559 133007503 159503641 167570093 1339344 1323094 481545574 515608745 315285541 330568964 166260033 185039781 To enhance the quality of life for our members, employees and communities. 0 0 0 0 0 Each activity is part of the whole process of generating and transmitting electrical energy to our 9 member rural service cooperatives and our one member municipal electrical cooperative. 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 1 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 1 0 0 1 142 0 1 93 1 0 0 0 0 0 151918208 1992151 0 0 0 X 9 9 0 0 0 0 1 1 1 1 1 1 0 1 1 1 1 1 1 1 1 0 X Kenneth H Kuyper 5153327743 1300 13th St N Humboldt IA 50548 Karen K Berte Sr VP Finance and Administration 40 0 X 217165 0 300989 Kenneth H Kuyper Executive VP and General Manager 40 0 X 354038 0 150836 Kevin W Bornhoft VP Engineering and System Operations 40 0 X 200251 0 282764 Jacob Olberding VP Power Supply 40 0 X 195429 0 171149 Ryan Cornelius VP Corporate Relations 40 0 X 171985 0 191521 Patrick Connor Plant Manager 40 0 X 155918 0 148043 Daniel Shiflett ROW & Construction Superintendent 40 0 X 123251 0 167779 Larry Brusseau Compliance Director 40 0 X 140572 0 89589 Brittany Dickey VP Business Development 40 0 X 139429 0 11031 Jon Behounek Chief System Operator 40 0 X 119457 0 22693 David Onken President 11 0 X X 27875 0 0 Dale Schaefer Vice President 7 0 X X 18895 0 0 Brad Honold Director 5 0 X 14525 0 0 Gary Poppe Director 5 0 X 13900 0 0 Larry Rohach Treasurer 5 0 X X 13750 0 0 Ted Hall Director 6 0 X 11150 0 0 Jerry Beck Secretary 5 0 X X 10450 0 0 LaVerne Arndt Director 3 0 X 9900 0 0 Rick Thompson Director 2 0 X 5250 0 0 Charles Gilbert Director 1 0 X 2750 0 0 Steve Boedecker Director 1 0 X 1400 0 0 1947340 0 1536394 16 0 1 0 Sullivan & Ward PC 6601 Westown Parkway suite 200 West Des Moines IA 502667733 Legal services 192484 Burns & McDonell 9400 Ward Parkway Kansas City MO 64114 Engineering consulting 158529 2 0 Electric Energy sales 221000 133281214 133281214 0 0 RTO revenue 221000 14982828 14982828 0 0 Patronage allocation 221000 14968534 14968534 0 0 Substation and tower use fees 221000 4087537 4087537 0 0 Wheeling Fees 221000 34357 34357 0 0 191912 191912 0 0 167546382 350347 0 0 350347 0 0 0 0 0 0 0 0 4635 0 0 0 4635 0 4635 0 0 4635 0 991391 0 0 0 991391 991391 0 0 991391 432 0 0 432 432 168893187 167546382 0 1346805 23810000 1840582 5606416 1655742 1024836 625014 68932 42500 115042 988473 148773 281786 497090 305251 8014039 13817596 497201 Energy 98394770 Jointly Owned Units 3869291 Maint of plant and equipment 3452702 Property Taxes 1509089 1004968 167570093 0 0 0 1400635 4004857 7468288 8355594 0 0 12001880 15302218 0 0 0 0 8462044 11826763 13631158 16106276 317221 9024 606580273 329233940 267904156 277346333 72099739 57291664 0 0 1845477 2498057 162691 342494 96252285 122525465 481545574 515608745 13655395 14564343 0 0 3708027 3709390 0 0 0 0 0 0 186244057 207133220 34732703 32104016 76945359 73057995 315285541 330568964 X 0 0 102893520 120386828 63366513 64652953 166260033 185039781 481545574 515608745 X 1323094 0 0 0 0 17456654 X X 0 1 X 1 1 1 0 5706221 5706221 0 62604091 46875556 15728535 0 0 0 0 0 522488070 284450190 238037880 0 15781891 -2091806 17873697 277346333 Patrons capital from associated cooperatives 96007287 Regulatory asset 10677070 Other investments in associated organizations 9661835 Investment in National Rural Utilities Cooperative Finance Corpo 4999510 Unamortized debt discount and expense 929256 Non-utility property 158958 Interest and dividends receivable 60590 Other investments 28582 Misc accrued assets 2377 122525465 0 DAEC decommissioning liability 68759339 Ash landfill retirement obligation 4095595 Deferred pension 203061 73057995 X 168885911 0 0 0 0 0 168885911 0 7276 7276 168893187 143752817 0 0 0 0 0 143752817 0 23817276 23817276 167570093 Schedule D, Part X, Line 2 The Cooperative recognizes the effect of income tax positions only if those positions are more likely than not of being sustained. Recognized income tax positions are measured at the largest amount that is greater than 50% likely of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgement occurs. Schedule D, Part XI, Line 4b Gain on the disposition and other credits $7,276 Schedule D, Part XII, Line 4b Gain on the disposition and other credits $7,276 and patronage allocation of 2022 margins $23,810,000 net $23,817,276 X 1 1 X X X X 0 0 0 Karen K Berte Sr VP Finance and Administration 187693 0 0 0 29472 0 275196 0 28195 0 520556 0 0 0 Kenneth H Kuyper Executive VP and General Manager 293966 0 0 0 60072 0 126288 0 27883 0 508209 0 0 0 Kevin W Bornhoft VP Engineering and System Operations 184624 0 0 0 15627 0 256251 0 28727 0 485229 0 0 0 Jacob Olberding VP Power Supply 194167 0 0 0 1263 0 146912 0 26419 0 368761 0 0 0 Ryan Cornelius VP Corporate Relations 153395 0 0 0 18590 0 167744 0 25625 0 365354 0 0 0 Patrick Connor Plant Manager 140685 0 0 0 15233 0 124266 0 25508 0 305692 0 0 0 Daniel Shiflett ROW & Construction Superintendent 120361 0 0 0 2890 0 142460 0 26758 0 292469 0 0 0 Larry Brusseau Compliance Director 138892 0 0 0 1681 0 63062 0 28142 0 231777 0 0 0 Brittany Dickey VP Business Development 136150 0 0 0 3278 0 8296 0 4192 0 151916 0 0 0 Jon Behounek Chief System Operator 114965 0 0 0 4493 0 5849 0 18088 0 143395 0 0 0 Schedule J, Part I, Line 1a Any expenses of the spouse that are paid for by the Cooperative is considered taxable to the executive. Form 990, Part VI, Section A, Line 6 Corn Belt has 8 rural electric cooperatives and one municipal electric cooperative as voting members. Corn Belt has one non-voting member. Form 990, Part VI, Section A, Line 7a Each voting member elects one representative to serve on the governing board of Corn Belt Power Cooperative. Form 990, Part VI, Section A, Line 7b The whole membership must approve changes to the Articles of Incorporation and the sale of substantially all the assets. Form 990, Part VI, Section A, Line 9 Dale Schaefer, 15507 140th St, Rockwell, IA 50469; Charles Gilbert, 19457 I Ave, Iowa Falls, IA 51026; David Onken, 14862 Quail Ave, Glidden, IA 51443; Larry Rohach, 22054 X Ave, Reinbeck, IA 50669; Jerry Beck, 1735 380th St, Spencer, IA 51301; Brad Honold, 123 Hickory Lane, Coon Rapids, IA 50058; Gary Poppe, 2495 Fayette Ave, Ionia, IA 50645; LaVerne Arndt, 3473 300th St, Sac City, IA 50583; Ted Hall, 2040 310th St, Forest City, IA 50436; Rick Thompson, 1601 190th Ave, LuVerne, IA 50560; Steve Boedecker, 6471 Twin Lakes Road, Rockwell City, IA 50579 Form 990, Part VI, Section B, Line 11b Each director is provided a copy of the 990 tax return at the March or April board meeting. At the meeting the return is reviewed and discussed in detail before it is filed with the IRS. Form 990, Part VI, Section B, Line 12c Policies are annually reviewed by a policy committee, then approved by the board. A conflict of interest disclosure is completed annually by the board and its officers. Corn Belt reviews the conflict and has a procedure in place to address their participation in decision making. For example, if it is determined that an individual has a conflict they are removed from any discussion regarding the matter. Form 990, Part VI, Section B, Line 15 An industry specific consultant provides biennial reviews of the salary structure for all employees. The Executive VP & General Manager wage structure is reviewed by the board of directors and other officers are reviewed by the Executive VP & General Manager each year. Wage adjustments are documented and approved by the board. In addition to the salary structure, an industry specific wage survey is also used to determine wages. Any individual that has a conflict regarding the compensation arrangement at issue are not involved in the review and approval. Form 990, Part VI, Section C, Line 19 These are available upon request. Form 990, Part XI, Line 9 Revenue deferred dividends $107,097, patronage dividends paid ($6,316,692). allocation of 2022 margin to members of $23,810,000, and change in deferred patronage ($143,751) net total $17,456,654. Form 990, Part XII, Line 3b The single audit is required to be completed later in the year. Corn Belt anticipates completing the single audit within this time frame. Grundy County Industrial Park LC 303 N Park Avenue Grundy Center IA 50548 421507483 Economic development IA N/A Related 37590 255985 0 0 0 0.5 Prairie Energy Development LLC 2099 Highway 3 West Clarion IA 50525 421514728 Economic Development IA N/A Related -25609 407885 0 0 0 0.5 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0