2024-10-01T08:44:28-05:00 2023-12-31 450250958 EIDE BAILLY LLP 345 N REID PL STE 400 SIOUX FALLS SD 571037034 990 2023-01-01 420288775 GUTHRIE COUNTY RURAL ELECTRIC COOP ASSN GUTH 6417472206 PO BOX 7 GUTHRIE CENTER IA 50115 COZY NELSEN CEO 6417472206 2024-09-30 1 1 LAURIE HANSON CPA P00851848 6053391999 2024-09-30 2023 2024-10-15 13:58:12Z COZY NELSEN PO BOX 7 GUTHRIE CENTER IA 50115 17049769 0 X WWW.GUTHRIE-REC.COOP X 1937 IA SALE OF ELECTRICITY TO MEMBERS IN RURAL LOCATIONS. 9 7 16 0 0 0 0 0 16087288 16653398 149625 150289 110096 77614 16347009 16881301 7695 6535 447300 500000 1831260 1922364 0 0 0 13875729 14219610 16161984 16648509 185025 232792 32676543 31837469 17180188 16198998 15496355 15638471 STRIVE TO DELIVER THE BEST POWER SOLUTIONS TO OUR COOPERATIVE MEMBERS AND COMMUNITIES. 0 0 PROVIDED ELECTRIC SERVICE TO APPROXIMATELY 3,947 MEMBERS. AS OF DECEMBER 2023 THE COOPERATIVE MAINTAINED 1,411 MILES. 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 1 0 0 0 0 0 0 0 0 0 1 13 0 1 16 1 0 0 0 0 0 16125319 490100 0 0 0 X 9 7 0 0 0 0 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 0 X COZY NELSEN 6417472206 PO BOX 7 GUTHRIE CENTER IA 50115 STEVE BIRELINE PRESIDENT 5.00 X X 7500 0 0 DON SCHWARTZ DIRECTOR 6.00 X 6600 0 0 JULIE KILEY SECRETARY-TREASURER 5.00 X X 7950 0 0 JONI REES VICE PRESIDENT 4.00 X X 7800 0 0 BOB BATSCHELET DIRECTOR UNTIL 1/2023 0.00 X 300 0 0 RON BRISTLE ASST SECRETARY/TREASURER 3.50 X X 7050 0 0 ANDY VAN AERNAM DIRECTOR 1.50 X 3300 0 0 JASON FETT DIRECTOR 5.00 X 8700 0 0 JAMES MAZOUR DIRECTOR 5.00 X 6900 0 0 MICHAEL MOORE DIRECTOR 2.00 X 6000 0 0 COZY NELSEN CEO 40.00 X 158344 0 10232 220444 0 10232 1 0 1 0 0 SALE OF POWER 221000 15767638 15767638 CAPITAL CREDITS 221000 885760 885760 16653398 138288 138288 12001 0 12001 12001 12001 246082 168468 77614 77614 16881301 16731012 0 150289 6535 500000 267905 194601 1059263 298090 102505 614875 1321534 COST OF POWER 10957416 DISTRIBUTION-OPERATIONS 1524978 ADMIN & GENERAL 1013005 DISTRIBUTION-MAINTENANC 204507 -1416705 16648509 902414 1103562 1718675 949669 912563 1044150 219844 238652 41215589 18217876 21967493 22997713 2369561 388920 3903966 4407777 682027 707026 32676543 31837469 1629439 1384147 254 1282 15451457 14717584 99038 95985 17180188 16198998 X 0 0 0 0 15496355 15638471 15496355 15638471 32676543 31837469 X 232792 -90676 X X 0 0 0 0 1 X 43092 43092 1302116 629908 672208 39315934 17587968 21727966 554447 554447 22997713 CIPCO 3421797 C CFC 225757 C NISC 68778 C PANORA TELEPHONE 96541 C OTHER INVESTMENTS 3230 C FEDERATED AND RESCO 193514 C CRC 2500 C NRTC 8951 C CAPITAL TERM CERTIFICATES 355516 C CO BANK 31193 C 4407777 DEFERRED CREDITS 48088 CUSTOMER DEPOSITS 47897 95985 PART IV, LINE 2B: RECARE IS A VOLUNTARY PROGRAM THAT MEMBERS CAN PARTICIPATE IN TO HELP OTHER MEMBERS IN THE SERVICE AREA PAY THEIR ELECTRICITY BILLS. MEMBERS VOLUNTARILY CONTRIBUTE MONEY TO THIS PROGRAM BY ADDING IT TO THEIR MONTHLY ELECTRICITY BILL. THE COOPERATIVE PERIODICALLY WILL TRANSFER THESE FUNDS TO LOCAL COUNTIES TO PROVIDE GENERAL RELIEF TO MEMBERS WHO WOULD HAVE BEEN DISCONNECTED FROM SERVICE WITHOUT ANY ASSISTANCE FROM RECARE OR GENERAL RELIEF FROM THEIR COUNTY. THESE FUNDS ARE SEGREGATED IN THE COOPERATIVE FINANCIALS AND ARE REPORTED IN FORM 990 PART X LINE 21 AS AN ESCROW ACCOUNT LIABILITY. X 0 0 0 COZY NELSEN CEO 157544 0 0 0 800 0 5327 0 6661 0 170332 0 0 0 SCHEDULE J, PART II, COLUMN C COLUMN C INCLUDES THE CHANGE IN ACTUARIAL VALUE OF THE DEFINED BENEFIT PLAN FOR EACH PARTICIPANT RATHER THAN THE ACTUAL CONTRIBUTION PAID TO THE PLAN. COZY NELSON CHANGE IN ACTUARIAL VALUE: $527 CONTRIBUTION TO THE PLAN BY COOPERATIVE: $36,000 BRIAN MARSO FAMILY RELATIONSHIP WITH BOARD DIRECTOR JONI REES 129515 COMPENSATION 0 REBECCA SCHWARTZ FAMILY RELATIONSHIP WITH BOARD DIRECTOR DON SCHWARTZ 65086 COMPENSATION 0 FORM 990, PART VI, SECTION A, LINE 6 THE COOPERATIVE HAS MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A THERE IS ONLY ONE CLASS OF MEMBERSHIP AND ALL MEMBERS HAVE THE SAME VOTING RIGHTS; ONE VOTE PER MEMBERSHIP. FORM 990, PART VI, SECTION A, LINE 7B THE MEMBERSHIP ELECTS THE BOARD OF DIRECTORS AT THE ANNUAL MEETING. THE MEMBERSHIP VOTES ON ANY BOARD PREPARED RESOLUTION FOR THE SALE, LEASE, EXCHANGE, OR OTHER SIGNIFICANT DISPOSAL OF THE COOPERATIVE'S ASSETS. FORM 990, PART VI, SECTION A, LINE 8B THE COOPERATIVE DOES NOT HAVE COMMITTEES THAT ACT ON BEHALF OF THE BOARD. FORM 990, PART VI, SECTION B, LINE 11B A COPY OF THE FORM 990 WILL BE GIVEN TO EACH BOARD MEMBER. THE 990 WILL BE REVIEWED BY THE CEO AND THE BOARD WILL REVIEW THE 990 TOGETHER IF SO REQUESTED BY ANY BOARD MEMBER. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY COVERS ALL BOARD MEMBERS AND EMPLOYEES. THE BOARD OF DIRECTORS IS RESPONSIBLE FOR DETERMINING IF A CONFLICT EXISTS. BOARD MEMBERS ARE REQUIRED TO DISCLOSE ANNUALLY ANY INTEREST THAT WOULD GIVE RISE TO CONFLICTS. IF SUCH CONFLICTS ARISE, THE AFFECTED BOARD MEMBER WOULD BE REQUIRED TO ABSTAIN FROM VOTING ON THAT PARTICULAR ITEM. FORM 990, PART VI, SECTION B, LINE 15A THE PERFORMANCE OF THE CEO IS REVIEWED BY THE BOARD OF DIRECTORS AND THEY DETERMINE THE COMPENSATION. THIS PROCESS IS UNDERTAKEN ANNUALLY. FORM 990, PART VI, SECTION C, LINE 19 THESE DOCUMENTS ARE MADE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: ALLOCATION OF 2023 MARGINS IN 2024 500,000. RETIREMENTS OF CAPITAL CREDITS -22,676. REQUIRED CAPITAL GAIN 10,035. PATRONAGE RETIREMENT TO MEMBERS FOR PRIOR YEARS -578,035. FORM 990, PART XII, LINE 2A-B: THE COOPERATIVE RECEIVED AUDITED FINANCIAL STATEMENTS FOR THE PERIOD ENDED MARCH 31, 2024. THE COOPERATIVE IS ON A CALENDAR YEAR END, BUT THE AUDIT IS DONE ON A FISCAL YEAR BASIS. 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. 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: 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.