2025-06-30T14:04:29-05:00 2024-12-31 450250958 EIDE BAILLY LLP 345 N REID PL STE 400 SIOUX FALLS SD 571037034 990 2024-01-01 420165440 CALHOUN COUNTY ELECTRIC COOPERATIVE ASSOCIATION CALH 7122977112 PO BOX 312 ROCKWELL CITY IA 50579 JIM MILLER PRESIDENT 7122977112 2025-06-27 1 1 LAURIE HANSON CPA P00851848 6053391999 2025-06-27 2024 2025-03-06 01:10:19Z KEATON HILDRETH PO BOX 312 ROCKWELL CITY IA 50579 6177187 0 X WWW.CALHOUNREC.COOP X 1936 IA TO PROVIDE ELECTRICITY TO OUR MEMBERS. 7 7 12 0 0 0 0 0 6707192 6161714 15587 15473 0 0 6722779 6177187 4010 2049 500000 300000 1033767 1081341 0 0 0 4652393 4534906 6190170 5918296 532609 258891 21920496 22532620 12168658 12378929 9751838 10153691 AS A RURAL ELECTRIC COOPERATIVE, CALHOUN COUNTY ELECTRIC COOPERATIVE ASSOCIATION'S MAIN PURPOSE IS TO PROVIDE ELECTRICITY TO ITS MEMBERS. 0 0 CALHOUN COUNTY ELECTRIC COOPERATIVE ASSOCIATION IS A RURAL ELECTRIC COOPERATIVE THAT PROVIDES ELECTRICITY TO ITS MEMBERS. IN 2024, THE COOPERATIVE PROVIDED SERVICE TO APPROXIMATELY 1,168 MEMBERS, AND MAINTAINED 759.07 MILES OF OVERHEAD LINE WHILE ADDING 0.91 MILES AND REMOVING .09 MILES. 0 0 0 0 0 0 0 1 0 1 1 1 0 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 0 0 0 1 11 0 1 12 1 0 0 0 0 0 5822038 237529 0 0 0 X 7 7 0 0 0 0 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 0 X KEATON HILDRETH 7122977112 PO BOX 312 ROCKWELL CITY IA 50579 X JIM MILLER PRESIDENT 8.00 X X 4500 0 0 STEVE BOEDECKER VICE PRESIDENT 8.00 X X 5513 0 0 JASON MCKENNEY SECRETARY 5.00 X X 4050 0 0 RON HANSON DIRECTOR (UNTIL AUG 2024) 2.00 X 2925 0 0 DUANE BESCHOERNER TREASURER 3.00 X X 4725 0 0 DARCY MAULSBY DIRECTOR 3.00 X 4050 0 0 JOE PARKER DIRECTOR 2.00 X 3038 0 0 STEVE PELZ DIRECTOR (BEG SEPT 2024) 1.00 X 1350 0 0 KEATON HILDRETH CEO 47.00 X 118455 0 32332 BRET MCALISTER LINE SUPERINTENDENT 43.00 X 113907 0 34011 REID GALLOWAY LINE FOREMAN 43.00 X 109931 0 22316 372444 0 88659 3 0 1 0 0 SALE OF POWER 221000 5734849 5734849 CAPITAL CREDITS 221000 396887 396887 29978 29978 6161714 15473 15473 6177187 6161714 0 15473 X 2049 300000 195495 814057 71789 34663 54235 37176 127350 320774 593444 25676 COST OF POWER 3240472 ADMINISTRATIVE & GENERA 371462 DISTRIBUTION - MAINTENA 342201 DISTRIBUTION - OPERATIO 228163 -840710 5918296 14719 106739 156296 163762 577370 535490 396339 391723 55308 90083 20936136 5113680 15335588 15822456 1798209 1637183 3586667 3785184 21920496 22532620 520553 497209 1442 1022 11209439 11380828 225000 225000 212224 274870 12168658 12378929 X 0 0 5840 5850 9745998 10147841 9751838 10153691 21920496 22532620 X 258891 142962 X X 0 1 X 1 0 0 1 X 67179 67179 698295 439225 259070 20085575 4639743 15445832 85087 34712 50375 15822456 ECONOMIC DEVELOPMENT NOTES RECEIVABLE 1637183 C 1637183 CORN BELT POWER COOPERATIVE 3190036 C NATIONAL RURAL TELECOMMUNICATIONS COOPERATIVE 101306 C NATIONAL RURAL UTILITIES COOPERATIVE 122042 C FEDERATED RURAL ELECTRIC INSURANCE 56861 C RURAL ELECTRIC SUPPLY COOPERATIVE 99311 C COOPERATIVE RESPONSE CENTER 11048 C NATIONAL INFORMATION SOLUTIONS COOPERATIVE 5952 C OTHER INVESTMENTS 3800 C NRUCFC CERTIFICATES 194828 C 3785184 DEFERRED CREDITS 50961 POSTRETIREMENT BENEFITS 215809 CUSTOMER DEPOSITS 8100 274870 X 6175138 0 6175138 2049 2049 6177187 5616247 0 5616247 302049 302049 5918296 PART IV, LINE 2B: THE RE-CARE PROGRAM IS A VOLUNTARY PROGRAM THAT ALLOWS CUSTOMERS TO CONTRIBUTE MONIES IN EXCESS OF THEIR BILL FOR THE PURPOSE OF HELPING OTHER MEMBERS PAY THEIR ELECTRIC BILL. THE CONTRIBUTED AMOUNT IS TRANSFEREED INTO AN ACCOUNT THAT IS ADMINISTERED BY CALHOUN COUNTY ELECTRIC COOPERATIVE ASSOCIATION. THE BOARD OF DIRECTORS OF THE COOPERATIVE REVIEWS APPLICATIONS FOR ASSISTANCE SUBMITTED TO IT BY ACCREDITED SOCIAL SERVICE AGENCIES. FUNDS ARE DISTRIBUTED BASED ON NEED AND AVAILABILITY. IF NO FUNDS ARE CONTRIBUTED, THEN NO FUNDS ARE DISTRIBUTED. PART X, LINE 2: THE COOPERATIVE EVALUATES ITS TAX POSITIONS THAT HAVE BEEN TAKEN OR ARE EXPECTED TO BE TAKEN ON INCOME TAX RETURNS TO DETERMINE IF AN ACCRUAL IS NECESSARY FOR UNCERTAIN TAX POSITIONS. AS OF DECEMBER 31, 2024 AND 2023, THE UNRECOGNIZED TAX BENEFITS ACCRUAL WAS ZERO. PART XI, LINE 4B - OTHER ADJUSTMENTS: EXPENSES NETTED WITH REVENUE ON AUDIT 2,049. PART XII, LINE 4B - OTHER ADJUSTMENTS: 2024 MARGINS ALLOCATED IN 2025 300,000. EXPENSES NETTED WITH REVENUE ON AUDIT 2,049. X 0 0 0 KEATON HILDRETH CEO 118455 0 0 0 0 0 9396 0 22936 0 150787 0 0 0 FORM 990, SCHEDULE J, PART II, COLUMN C INCLUDED IN COLUMN C IS CHANGE IN ACTUARIAL VALUE OF THE DEFINED FOR KEATON HILDRETH OF $9,396. ACTUAL CONTRIBUTION EXPENSE WAS $23,954. FORM 990, PART VI, SECTION A, LINE 6 CALHOUN COUNTY ELECTRIC COOPERATIVE ASSOCIATION HAS APPROXIMATELY 1,200 MEMBERS WHO PURCHASE ELECTRICITY FROM THE COOPERATIVE. THERE IS ONLY ONE CLASS OF MEMBERSHIP. FORM 990, PART VI, SECTION A, LINE 7A DIRECTORS SERVE THREE YEAR TERMS AND ARE ELECTED TO THE BOARD AT THE ANNUAL MEETING OF THE MEMBERS. ALL MEMBERS ARE ENTITLED TO ONE VOTE. FORM 990, PART VI, SECTION A, LINE 7B BOARD MEMBERS ARE ELECTED BY THE MEMBERS. EACH MEMBER IS ENTITLED TO ONE VOTE IN THE DISTRICT WHERE THEY RECEIVE THEIR ELECTRICITY. SALE, LEASE, EXCHANGE, OR OTHER DISPOSITION OF ALL OR SUBSTANTIALLY ALL OF THE PROPERTY AND ASSETS OF THE COOPERATIVE REQUIRES A VOTE OF THE MEMBERSHIP. SUCH AUTHORIZATION SHALL BE APPROVED IF TWO-THIRDS OF THE MEMBERS VOTE AFFIRMATIVELY ON A BALLOT ON WHICH A MAJORITY OF ALL VOTING MEMBERS OF THE COOPERATIVE PARTICIPATE. FORM 990, PART VI, SECTION A, LINE 8B THE ORGANIZATION DOES NOT HAVE COMMITTEES WITH BROAD AUTHORITY TO ACT ON BEHALF OF THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 WILL BE REVIEWED BY THE BOARD OF DIRECTORS BEFORE IT IS FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C ANNUALLY THE BOARD OF DIRECTORS IS REQUIRED TO COMPLETE A CONFLICT OF INTEREST DISCLOSURE STATEMENT. THE BOARD IS ADVISED BY AN ATTORNEY WHO DESCRIBES POSSIBLE CONFLICTS OF INTEREST. THE STATEMENTS ARE FILED WITH THE CEO. AT EACH BOARD MEETING, THE CEO INQUIRES WHETHER ANY DIRECTORS NEED TO UPDATE THEIR DISCLOSURE FORM. IN THE EVENT OF A CONFLICT OF INTEREST, THE BOARD OF DIRECTORS AND CEO ARE RESPONSIBLE FOR TAKING THE APPROPRIATE ACTION, WHICH MAY INCLUDE ABSTENTION FROM DISCUSSION AND VOTING, AND POSSIBLE REQUEST FOR RESIGNATION. FORM 990, PART VI, SECTION B, LINE 15A SALARIES ARE DETERMINED BY THE BOARD OF DIRECTORS USING NRECA'S NATIONAL COMPENSATION SURVEY. THIS PROCESS IS UNDERTAKEN ANNUALLY WITH INCREASES EFFECTIVE THE FOLLOWING JANUARY. FORM 990, PART VI, SECTION C, LINE 19 THE INFORMATION IS AVAILABLE AT CALHOUN COUNTY ECA UPON WRITTEN REQUEST. FORM 990, PART VII BOARD MEMBERS ARE PAID A PER DIEM FOR ATTENDING MEETINGS. HOURS WORKED PER WEEK AS REPORTED ON PART VII MAY INCLUDE EDUCATION, TRAINING, OR OTHER MISCELLANEOUS COOPERATIVE-RELATED ACTIVITIES. FORM 990, PART VII THE CEO ACTS AS BOTH THE TOP MANAGEMENT OFFICIAL AND THE TOP FINANCE OFFICIAL FOR THE COOPERATIVE. 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 IX, LINES 5, 7, AND 10 THE LABOR AND PAYROLL TAXES REPORTED ON LINES 5, 7, AND 10 ARE INCLUDED IN DISTRIBUTION EXPENSES, ADMINISTRATIVE & GENERAL EXPENSE, AND CUSTOMER SERVICE EXPENSES. THEREFORE, LABOR AND PAYROLL TAXES ARE SHOWN AS A REDUCTION TO OTHER EXPENSES ON LINE 24E. FORM 990, PART XI, LINE 9: ALLOCATIONS OF 2024 MARGINS IN 2025 300,000. RETIREMENT OF CAPITAL CREDITS -176,552. GAIN/LOSS ON RETIREMENT OF CAPITAL CREDITS 37,577. INCREASE IN MEMBERSHIPS 10. DONATED CAPITAL 3,779. EDUCATION FUND EXPENSES -21,852. FORM 990, PART XII, LINE 2C THE BOARD OF DIRECTORS IS RESPONSIBLE FOR SELECTION OF AN INDEPENDENT ACCOUNTANT AND THE OVERSIGHT OF THE AUDITED FINANCIAL STATEMENTS.