2025-08-06T14:12:55-05:00 2024-12-31 450250958 EIDE BAILLY LLP 345 N REID PL STE 400 SIOUX FALLS SD 571037034 990 2024-01-01 410387084 LYON-LINCOLN ELECTRIC COOPERATIVE LYON 5072475505 205 W HWY 14 TYLER MN 56178 TIMOTHY O'LEARY GENERAL MANAGER 5072475505 2025-08-05 1 1 LAURIE HANSON CPA P00851848 6053391999 2025-08-05 2024 2025-03-06 01:10:19Z TIMOTHY O'LEARY 205 W HWY 14 TYLER MN 56178 11967677 0 X WWW.LLEC.COOP X 1939 MN TO PROVIDE ELECTRICITY TO RURAL AREAS. 9 9 16 0 0 0 0 0 11631290 11800719 125790 161928 -177 1104 11756903 11963751 6794 6677 1146682 841175 2034772 2152628 0 0 0 8568655 8963271 11756903 11963751 0 0 42853772 43497391 25608713 26025022 17245059 17472369 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 3,955 METERS WITH 1,670 MILES OF LINE SERVICED, 37.15 MILES ADDED, AND 38.21 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 54 0 1 16 1 0 0 0 0 0 11356701 499381 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 DALE FIER PRESIDENT 5.00 X X 7500 0 0 MIKE LONGTIN VICE PRESIDENT 5.00 X X 8575 0 0 KATHLEEN SCHREURS SECRETARY & TREASURER 5.00 X X 10175 0 0 JARED DRITZ DIRECTOR 2.00 X 4225 0 0 GALEN GRANT DIRECTOR 6.00 X 9250 0 0 MARY GUNNINK DIRECTOR 4.00 X 8250 0 0 SCOTT JOHNSON DIRECTOR 2.00 X 5025 0 0 JAMES A ROKEH DIRECTOR 8.00 X 9875 0 0 JOEL BUYCK DIRECTOR 3.00 X 9575 0 0 TIMOTHY O'LEARY GENERAL MANAGER 40.00 X 196218 0 104086 KRISTI JENSEN FINANCE MANAGER 40.00 X 123858 0 12187 LYLE LAMOTE LINE SUPERINTENDENT 40.00 X 114351 0 27101 WADE THOOFT OPERATIONS ASSISTANT 40.00 X 105586 0 61201 TRENT SKJEFTE JOURNEYMAN LINEMAN 40.00 X 102572 0 11449 715035 0 216024 5 0 1 0 TE UNDERGROUND LLC 293 NORTH TYLER ST TYLER MN 56178 UNDERGROUND CABLE INSTALL 442795 1 SALE OF POWER 221000 11225498 11225498 CAPITAL CREDITS 221000 575221 575221 11800719 161928 161928 5030 3926 1104 1104 11963751 11800719 0 163032 X 6677 841175 512285 1221411 302721 116211 747583 1194588 COST OF POWER 6428384 DISTRIBUTION-MAINTENANC 730005 DISTRIBUTIONS-OPERATION 393797 CUSTOMER ACCOUNTS 155621 -686707 11963751 3886957 2451719 781054 1048760 43690 36282 861706 915423 217081 222491 42711730 13119778 28018216 29591952 80505 80809 8959475 9144867 498 498 4590 4590 42853772 43497391 1181512 1462811 23736865 23858503 690336 703708 25608713 26025022 X 19855 19885 0 0 17225204 17452484 17245059 17472369 42853772 43497391 X 0 227310 X X 0 0 0 0 0 87044 87044 900330 706689 193641 41662469 12413089 29249380 61887 61887 29591952 CFC 70760 C EAST RIVER 8096777 C RESCO 191117 C NRUCFC 378771 C FEDERATED RURAL ELECTRIC INSURANCE 108165 C NRTC 156666 C COBANK 120950 C NAT'L INFORMATION SOLUTIONS COOP 21661 C 9144867 CUSTOMER DEPOSITS 20800 REGULATORY LIABILITIES 600000 PROVISION FOR PENSIONS & BENEFITS 82908 703708 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 194960 0 254 0 1004 0 84773 0 23125 0 304116 0 0 0 WADE THOOFT OPERATIONS ASSISTANT 105102 0 271 0 213 0 41670 0 21655 0 168911 0 0 0 SCHEDULE J, PART II, COLUMN C: INCLUDED IN THE AMOUNT REPORTED IN COLUMN C IS THE CHANGE IN ACTUARIAL VALUE OF THE DEFINED BENEFIT PLAN: - TIMOTHY O'LEARY $50,733 - WADE THOOFT $37,125 THE ACTUAL COOPERATIVE CONTRIBUTIONS TO THE DEFINED BENEFIT PLAN: - TIMOTHY O'LEARY $76,501 - WADE THOOFT $28,282 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: ALLOCATION OF 2024 MARGINS IN 2025 841,175. CHANGES IN OTHER EQUITY 30. RETIREMENT OF CAPITAL CREDITS -728,869. TRANSFERS 114,974. 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, 2024. 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