2023-10-26T14:01:37-05:00 2022-12-31 450250958 EIDE BAILLY LLP 345 N REID PL STE 400 SIOUX FALLS SD 571037034 990 2022-01-01 420297955 HARRISON COUNTY RURAL ELECTRIC COOPERATIVE HARR 7126472727 105 ENTERPRISE DR WOODBINE IA 51579 F JOE FARLEY CEO 7126472727 2023-10-25 1 F JOE FARLEY XXX-XX-XXXX 1 LAURIE HANSON CPA P00851848 6053391999 2023-10-10 3 AAL1 IAL1 2022 2023-04-26 12:10:37Z F JOE FARLEY 105 ENTERPRISE DR WOODBINE IA 51579 15076703 0 X WWW.HCREC.COOP X 1936 IA TO PROVIDE ELECTRIC AND RELATED SERVICES TO RURAL COMMUNITIES. 9 9 24 0 2294 0 0 0 13579407 14614379 34656 117215 45366 13802 13659429 14745396 0 0 1162913 545156 2302265 2449412 0 0 0 9624877 11022726 13090055 14017294 569374 728102 37015918 40962142 19917311 23094511 17098607 17867631 TO SAFELY PROVIDE RELIABLE ELECTRIC POWER AND RELATED SERVICES AT THE BEST POSSIBLE VALUE FOR OUR MEMBERS. 0 0 PROVIDED ELECTRIC SERVICE TO APPROXIMATELY 2,426 MEMBERS ALONG 1,118 MILES, ADDED 12.86 MILES OF LINE AND REMOVED 12.56 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 0 0 0 1 22 0 1 24 1 1 1 0 0 0 0 14503636 414398 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 F JOE FARLEY 7126472727 105 ENTERPRISE DRIVE WOODBINE IA 51579 X THOMAS J BOTHWELL PRESIDENT 6.00 X X 7500 0 0 JAMES SHARP VICE PRESIDENT 5.00 X X 4875 0 0 BRENDA LUNDERGARD SECRETARY 6.00 X X 8375 0 0 KENT KERSTEN TREASURER 6.00 X X 6625 0 0 LARRY RAMSEY DIRECTOR 6.00 X 6137 0 0 CURTIS LEE DIRECTOR 7.00 X 9925 0 0 DOUG PITT DIRECTOR 8.00 X 5250 0 0 WILLIAM HUTCHESON DIRECTOR 5.00 X 7625 0 0 RANDALL KOENIG DIRECTOR 3.00 X 4000 0 0 F JOE FARLEY CEO 42.00 X 161745 0 23644 LORI D BARRY CFO 42.00 X 108441 0 23839 SHADON BLUM DIRECTOR OF OPERATIONS 42.00 X 112987 0 13074 443485 0 60557 3 0 1 0 0 SALE OF POWER 221000 14107807 14107807 G&T CAPITAL CREDITS 221000 506572 506572 14614379 115313 115313 1902 0 1902 1902 1902 341590 331307 10283 2294 7989 MISCELLANEOUS 221000 3519 3519 3519 14745396 14614379 2294 128723 545156 440148 1483074 392980 133210 670073 1176436 COST OF POWER 8806293 DISTRIBUTION - MAINTENA 707225 DISTRIBUTION - OPERATIO 400679 CUSTOMER SERVICE & INFO 261782 -999762 14017294 2738456 5073510 1172480 1383051 983255 1242091 188206 166556 40185264 12370209 26795381 27815055 193171 57151 4935612 5178667 1542 1541 7815 44520 37015918 40962142 1014163 1446911 18567702 21122036 335446 525564 19917311 23094511 X 0 0 0 0 17098607 17867631 17098607 17867631 37015918 40962142 X 728102 40922 X X 0 0 0 82230 82230 3513141 567179 2945962 3363717 2263487 1100230 33226176 9539543 23686633 27815055 RESCO 81181 C NATIONAL INFORMATION SYSTEMS COOP 45399 C FEDERATED INSURANCE 98856 C NIPCO PATRONAGE & MEMBERSHIP 4338280 C CFC CERTIFICATES, PATRONAGE & MEMBERSHIP 552257 C BASIN MEMBERSHIP 100 C NRTC MEMBERSHIP 1491 C COBANK PATRONAGE & MEMBERSHIP 59603 C AMAIZING ENERGY 500 C INVESTMENT IN SUB-LOESS HILLS DEV CROP 1000 C 5178667 DEFERRED CREDITS 485452 CUSTOMER DEPOSITS 40112 525564 X X X 0 0 0 F JOE FARLEY CEO 159467 0 0 0 2278 0 10764 0 19870 0 192379 0 0 0 SCHEDULE J, PART II, COLUMN (C) INCLUDED IN PART II, COLUMN (C) IS THE CHANGE IN ACTUARIAL VALUE OF THE DEFINED BENEFIT PLAN FOR JOE FARLEY. THE CHANGE IN ACTURIAL VALUE FOR JOE FARLEY WAS IN THE AMOUNT OF $5,424. THE COOPERATIVE'S ACTUAL EXPENSE FOR JOE'S PARTICIPATION IN THIS PLAN IN 2022 WAS $37,375. FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION HAS MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS ARE ALL OF THE SAME CLASS. EACH MEMBERSHIP HAS ONE VOTE ON ITEMS BROUGHT TO THE MEMBERSHIP FOR VOTE. FORM 990, PART VI, SECTION A, LINE 7B CHANGES TO THE ARTICLES OF INCORPORATION ARE SUBJECT TO A VOTE OF THE MEMBERSHIP. THE MEMBERSHIP ALSO ELECTS DIRECTORS AT THE ANNUAL MEETING. FORM 990, PART VI, SECTION A, LINE 8B THERE ARE NO COMMITTEES WITH BROAD AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B THE CEO AND CFO REVIEW THE 990 IN DETAIL. AFTER THEIR REVIEW, THE 990 IS PROVIDED TO EACH BOARD MEMBER. THE CEO AND/OR CFO PRESENT THE 990 TO THE BOARD OF DIRECTORS AT THE MEETING HELD PRIOR TO ITS FILING IF SO REQUESTED BY ANY BOARD MEMBER. WHETHER PRESENTED IN A BOARD MEETING OR NOT, THE 990 IS NOT FILED UNTIL EACH BOARD MEMBER HAS BEEN GIVEN A COPY OF IT AND GIVEN AMPLE TIME TO REVIEW IT. FORM 990, PART VI, SECTION B, LINE 12C ALL SUSPECTED INSTANCES OR KNOWN INSTANCES OF CONFLICT ARE REVIEWED WITH THE INDIVIDUAL INVOLVED, AND HANDLED ACCORDING TO POLICY. ALL EMPLOYEES AND MEMBERS OF THE BOARD ARE COVERED BY THE POLICY. THE MANAGER DETERMINES WHETHER A CONFLICT EXISTS, AND A REVIEW WOULD BE PERFORMED. RESTRICTIONS WOULD APPLY AS DETERMINED NECESSARY TO REMOVE THE CONFLICT. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD DETERMINES THE SALARY FOR THE CEO. FACTORS USED IN SETTING THE SALARY INCLUDE COST OF LIVING, PERFORMANCE EVALUATION, AND THE NRECA WAGE SURVEY, WHICH IS REVIEWED EVERY 2-3 YEARS. THE CEO GETS COMPENSATION SURVEYS AND PROVIDES THE INFORMATION TO THE BOARD OF DIRECTORS. A REASONABLE SALARY IS THEN SET FOR ALL THE INDIVIDUALS. THE PROCESS WAS UNDERTAKEN IN 2022. FORM 990, PART VI, SECTION C, LINE 19 THE DOCUMENTS ARE MADE 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 CEO AND DIRECTOR OF ADMINISTRATION. 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 XI, LINE 9: ALLOCATION OF MARGINS 545,156. RETIREMENT OF CAPITAL CREDITS -546,574. GAIN/(LOSS) ON RETIREMENT OF CAPITAL CREDITS 2,321. MEMBERSHIPS ISSUED, NET -25. PATRONAGE EDUCATION FUND -86,615. DONATED CAPITAL 126,659. FORM 990 PART XI LINE 2A FISCAL YEAR AUDIT: THE COOPERATIVE HAS AN AUDIT ON A FISCAL YEAR BASIS. THE COOPERATIVE'S MOST RECENT AUDIT WAS FOR THE FISCAL YEAR ENDED APRIL 30, 2023. FORM 990, PART IX, LINE 24E STATEMENT OF FUNCTIONAL EXPENSES: THE LABOR, PENSION AND PAYROLL TAXES REPORTED ON LINES 6-10 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.