2024-08-29T15:12:22-05:00 2023-12-31 450250958 EIDE BAILLY LLP 345 N REID PL STE 400 SIOUX FALLS SD 571037034 990 2023-01-01 410387084 LYON-LINCOLN ELECTRIC COOPERATIVE LYON 5072475505 205 W HWY 14 TYLER MN 56178 TIMOTHY O'LEARY GENERAL MANAGER 5072475505 2024-08-27 1 1 LAURIE HANSON CPA P00851848 6053391999 2024-08-27 2023 2024-08-08 14:25:15Z TIMOTHY O'LEARY 205 W HWY 14 TYLER MN 56178 11758653 0 X WWW.LLEC.COOP X 1939 MN TO PROVIDE ELECTRICITY TO RURAL AREAS. 9 9 16 0 0 0 0 0 11586111 11631290 51230 125790 378 -177 11637719 11756903 7304 6794 1219777 1146682 1976271 2034772 0 0 0 8434367 8568655 11637719 11756903 0 0 38959795 42853772 22226626 25608713 16733169 17245059 TO PROVIDE RELIABLE ELECTRICITY AND OTHER NEEDED SERVICES TO ENHANCE THE QUALITY OF LIFE IN OUR RURAL COMMUNITIES. 0 0 PROVIDED ELECTRIC SERVICE TO APPROXIMATELY 3,956 METERS WITH 1,671 MILES OF LINE SERVICED, 22.84 MILES ADDED, AND 21.78 MILES REMOVED. 0 0 0 0 0 0 0 1 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 0 0 1 78 0 1 16 1 0 0 0 0 0 11536346 266335 0 0 0 X 9 9 0 0 0 0 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 0 X KRISTI JENSEN 5072475505 PO BOX 639 TYLER MN 561780639 X SANDER L LUDEMAN PRESIDENT (UNTIL 01/23) 1.00 X X 311 0 0 DALE FIER VICE PRESIDENT/PRESIDENT 4.00 X X 8300 0 0 KATHLEEN SCHREURS SECRETARY & TREASURER 2.30 X X 5300 0 0 JAMES A ROKEH DIRECTOR 7.80 X 11350 0 0 JARED DRITZ DIRECTOR 2.30 X 3900 0 0 SCOTT JOHNSON DIRECTOR 1.70 X 6325 0 0 GALEN GRANT DIRECTOR 7.40 X 6650 0 0 MARY GUNNINK DIRECTOR 3.30 X 6475 0 0 MIKE LONGTIN DIRECTOR/VICE PRESIDENT 2.80 X X 6325 0 0 JOEL BUYCK DIRECTOR (BEG 06/23) 2.30 X 4700 0 0 TIMOTHY O'LEARY GENERAL MANAGER 40.00 X 176230 0 85532 KRISTI JENSEN FINANCE MANAGER 40.00 X 115523 0 11822 LYLE LAMOTE LINE SUPERINTENDENT 40.00 X 108079 0 26031 NATHAN PAVEK JOURNEYMAN LINEMAN 40.00 X 101469 0 30960 WADE THOOFT OPERATIONS ASSISTANT 40.00 X 101642 0 56759 662579 0 211104 5 0 1 0 TE UNDERGROUND 293 NORTH TYLER ST TYLER MN 56178 UNDERGROUND CABLE INSTALL 361531 1 SALE OF POWER 221000 10955728 10955728 CAPITAL CREDITS 221000 675562 675562 11631290 125790 125790 1573 1750 -177 -177 11756903 11631290 0 125613 X 6794 1146682 453574 1198181 270031 112986 655588 1130473 COST OF POWER 6179764 DISTRIBUTION-MAINTENANC 805682 DISTRIBUTIONS-OPERATION 314509 CUSTOMER SERVICE 235945 -753306 11756903 1951308 3886957 869786 781054 41660 43690 1043732 861706 212869 217081 40974375 12956159 26331643 28018216 80366 80505 8423343 8959475 498 498 4590 4590 38959795 42853772 1243203 1181512 20305828 23736865 677595 690336 22226626 25608713 X 19730 19855 0 0 16713439 17225204 16733169 17245059 38959795 42853772 X 0 511890 X X 0 0 0 0 0 87044 87044 883638 682284 201354 39264022 12273875 26990147 739671 739671 28018216 CFC 75882 C EAST RIVER 7904654 C RESCO 186073 C NRUCFC 378771 C FEDERATED RURAL ELECTRIC INSURANCE 107590 C NRTC 166661 C COBANK 117460 C NAT'L INFORMATION SOLUTIONS COOP 22384 C 8959475 CUSTOMER DEPOSITS 24000 DEFERRED CREDITS 600000 PROVISION FOR PENSIONS & BENEFITS 66336 690336 PART IV, LINE 2B: THE COOPERATIVE HOLDS OPERATION ROUND-UP FUNDS AS A LIABILITY ON THE BALANCE SHEET UNTIL THE FUNDS ARE TRANSFERRED TO THE LYON-LINCOLN ELECTRIC TRUST, A RELATED ENTITY. THE BALANCE IN THE LIABILITY ACCOUNT AT YEAR-END WAS $0. OPERATION ROUND-UP IS A UNIQUE VOLUNTARY PROGRAM DESIGNED TO PROVIDE FINANCIAL ASSISTANCE TO WORTHWHILE PROJECTS AND CHARITIES IN OUR SURROUNDING COMMUNITIES. TO QUALIFY FOR FUNDING, PROJECTS MUST GENERALLY BE RELATED TO COMMUNITY SERVICE, ECONOMIC DEVELOPMENT, EDUCATION AND YOUTH, ENVIRONMENT, EMERGENCY ENERGY ASSISTANCE OR DISASTER RELIEF. APPLICANTS FOR SCHOLARSHIP FUNDING MUST BE PLANNING TO ATTEND AN ACCREDITED POST-SECONDARY EDUCATIONAL INSTITUTION IN PURSUIT OF THEIR INITIAL POST-SECONDARY DEGREE. THESE INSTITUTIONS COULD INCLUDE TECHNICAL COLLEGES, UNIVERSITIES OR COLLEGES. OPERATION ROUND-UP WORKS LIKE THIS: THE COOPERATIVE WILL ROUND UP ELECTRIC BILLS OF PARTICIPATING MEMBERS TO THE NEXT DOLLAR. FOR EXAMPLE, IF YOUR BILL IS $41.70, IT WOULD BE "ROUNDED UP" TO $42. THE MAXIMUM CONTRIBUTION PER YEAR COULD BE $11.88, BUT GENERALLY WILL BE LESS THAN THAT, AVERAGING $6 PER YEAR PER METER. X X X 0 0 0 TIMOTHY O'LEARY GENERAL MANAGER 175404 0 254 0 572 0 66872 0 18660 0 261762 0 0 0 WADE THOOFT OPERATIONS ASSISTANT 101172 0 271 0 199 0 37881 0 18878 0 158401 0 0 0 SCHEDULE J, PART II, COLUMN C INCLUDED IN THE AMOUNT REPORTED IN COLUMN C IS $59,411 FOR THE CHANGE IN ACTUARIAL VALUE OF THE DEFINED BENEFIT PLAN FOR TIMOTHY O'LEARY. ACTUAL COOPERATIVE CONTRIBUTIONS TO THE PLAN WERE $44,418. INCLUDED IN THE AMOUNT REPORTED IN COLUMN C IS $33,526 FOR THE CHANGE IN ACTUARIAL VALUE OF THE DEFINED BENEFIT PLAN FOR WADE THOOFT. ACTUAL COOPERATIVE CONTRIBUTIONS TO THE PLAN WERE $26,070. FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION HAS ONLY ONE CLASS OF MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS ELECT THE BOARD OF DIRECTORS, ALL MEMBERS ARE OF THE SAME CLASS AND EACH MEMBER HAS ONE VOTE. FORM 990, PART VI, SECTION A, LINE 7B CHANGES TO BYLAWS MUST BE APPROVED BY VOTE OF THE MEMBERS. FORM 990, PART VI, SECTION A, LINE 8B COMMITTEES DO NOT HAVE THE AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY; THEY ARE ONLY ALLOWED TO MAKE RECOMMENDATIONS TO THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED AT A BOARD MEETING PRIOR TO BEING FILED. FORM 990, PART VI, SECTION B, LINE 12C INDIVIDUALS ARE REQUIRED TO SIGN AN ACKNOWLEDGEMENT DISCLOSURE ANNUALLY. THE BOARD OF DIRECTORS IS COVERED BY THE POLICY. THE BOARD OF DIRECTORS AND THE BOARD COMMITTEE REVIEW WHETHER CONFLICTS EXIST. IF A CONFLICT EXISTS, THE INDIVIDUAL AFFECTED BY THE CONFLICT IS EXCLUDED FROM VOTING ON THE ISSUE SURROUNDING THE CONFLICT. FORM 990, PART VI, SECTION B, LINE 15A COMPENSATION IS DETERMINED BY A SALARY COMMITTEE WITH FINAL APPROVAL DETERMINED BY THE FULL BOARD OF DIRECTORS. COMPARABILITY DATA IS USED IN DETERMINING THE APPROPRIATE SALARY ADJUSTMENTS. THIS PROCESS IS DONE EVERY YEAR. ALL EMPLOYEE SALARIES ARE COMPARED TO NRECA'S NATIONAL SURVEY. FORM 990, PART VI, SECTION C, LINE 19 THESE 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 GENERAL MANAGER. 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 IX, LINE 24E STATEMENT OF FUNCTIONAL EXPENSES: ALLOCATED AND OTHER EXPENSE - 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. FORM 990, PART XI, LINE 9: RETIREMENT OF CAPITAL CREDITS -689,687. CHANGES IN OTHER EQUITY 125. ALLOCATION OF 2023 MARGINS IN 2024 1,146,682. TRANSFERS 54,770. FORM 990, PAGE 12, LINE 2 THE COOPERATIVE IS AUDITED ON A FISCAL YEAR BASIS. THE MOST RECENT AUDIT COMPLETED WAS FOR THE FISCAL YEAR ENDED AUGUST 31, 2023. LYON-LINCOLN ELECTRIC TRUST INC 205 WEST HIGHWAY 14 TYLER MN 561780639 411930173 DISTRIBUTING CONTRIBUTIONS FROM COOPERATIVE MEMBERS TO LOCAL ORGANIZATIONS MN 501(C)(3) LINE 7 LYON-LINCOLN ELECTRIC COOPERATIVE 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 1 0