2025-11-13T09:19:42-06:00 2024-12-31 750882037 BOLINGER SEGARS GILBERT AND MOSS LLP 8215 NASHVILLE AVENUE LUBBOCK TX 79423 990 2024-01-01 480354623 PRAIRIE LAND ELECTRIC COOPERATIVE INC PRAI 7858773323 PO BOX 360 NORTON KS 67654 MIKE ROGERS BOARD PRESIDENT 7858773323 2025-10-28 1 0 WILLIAM M MILLER P00439459 8067473806 2025-10-28 X 2024 2025-03-06 01:10:19Z KIRK GIRARD PO BOX 360 NORTON KS 67654 69780782 0 X WWW.PRAIRIELANDELECTRIC.COM X 1938 KS TO PROVIDE QUALITY AND RELIABLE ELECTRIC SERVICE TO MEMBERS AT COST ON A COOPERATIVE BASIS. 11 11 103 0 140192 0 0 0 65129534 69441698 266830 186157 191950 152927 65588314 69780782 30164 35564 5114578 5714610 8954737 8283207 0 0 0 51488835 55747401 65588314 69780782 0 0 197680042 204483051 107152489 108237093 90527553 96245958 TO IMPROVE THE QUALITY OF LIFE FOR OUR MEMBERS AND SUPPORT OUR COMMUNITIES BY PROVIDING SAFE, RELIABLE ENERGY SERVICES AND EDUCATION. 0 0 PROVIDING ELECTRIC ENERGY TO OUR MEMBERS ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL. THERE WERE 24,568 ACTIVE SERVICES AT YEAR END. 0 0 0 0 0 0 0 0 0 1 0 1 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 1 334 0 103 1 1 1 0 0 0 0 69903003 2054661 0 0 0 X 11 11 0 0 0 0 1 1 1 1 0 0 0 1 1 1 1 1 1 1 1 0 X MIKE HAUMONT DIRECTOR OF FINANCE 7858773323 PO BOX 360 NORTON KS 67654 X KEITH ROSS VICE PRESIDENT 8.60 X X 20650 0 0 RONALD GRIFFITH TRUSTEE 13.90 X 17150 0 0 SANDRA BENOIT SECRETARY 13.80 X X 16450 0 0 WILLIAM PETERSON TRUSTEE 9.80 X 14000 0 0 MIKE ROGERS PRESIDENT 11.90 X X 12600 0 0 LOWELL THOMAN TRUSTEE (APR-DEC) 6.40 X 12250 0 0 ERIC WITMER TRUSTEE 7.00 X 11200 0 0 OTTO LEVIN TRUSTEE 5.70 X 10850 0 0 ROBERT PAXSON TREASURER 7.00 X X 10850 0 0 SCOTT URBAN TRUSTEE 9.80 X 10500 0 0 IVAN BOHL TRUSTEE 6.60 X 9800 0 0 KIRK GIRARD CEO 48.00 X 308020 0 291708 ALISHA STARK CFO/ASSISTANT CEO 50.00 X 211598 0 97480 JAMES COASH OPERATIONS MANAGER 40.00 X 190618 0 67711 KODY POUNDS DIRECTOR OF OPERATIONS 50.00 X 184112 0 44066 APRIL KARNOPP DIRECTOR OF ADMINISTRATION 45.00 X 147210 0 99591 SHANE SCHUMAKER DIRECTOR OF TECHNICAL SERVICES 41.00 X 157436 0 70365 DAVID TIEMEYER AREA SUPERVISOR 45.90 X 134498 0 78030 ELENA LARSON DIRECTOR OF MEMBER SVCS 47.40 X 149941 0 47606 JACOB EPLEY AREA SUPERVISOR 43.80 X 137099 0 51410 1766832 0 847967 48 0 1 0 SENGER CONSTRUCTION LLC 300 N NASH STREET GLEN ELDER KS 67446 CONSTRUCTION CONTRACTOR 660500 SOLIDA TREE SERVICE INC PO BOX 421 PHILLIPSBURG KS 67661 TREE TRIMMING 613904 NATIONAL INFORMATION SOLUTIONS COOPERATI PO BOX 1147 MANDAN ND 58554 SOFTWARE PROVIDER & OTHER SERVICES 449576 SUNFLOWER ELECTRIC POWER CORP 301 WEST 13TH STREET HAYS KS 67601 ENGINEERING SERVICES & SUBSTATION MAINTE 427155 4 X SALES OF ELECTRICITY 221000 65697254 65697254 PATRONAGE DIVIDENDS 221000 2382308 2382308 SERVICE FEES 221000 1165246 1165246 OTHER PROGRAM REVENUES 221000 196890 196890 69441698 85598 85598 100559 0 100559 100559 100559 MERCHANDISING/HVAC JOBBING 221000 140192 140192 POLE ATTACHMENT INCOME 221000 12735 12735 152927 69780782 69542257 140192 98333 X 35564 5714610 1541613 4518620 888284 987916 346774 4508191 7733837 PURCHASED POWER 36565755 DISTRIBUTION EXPENSE 3764390 ADMINISTRATIVE & GENERA 1550712 CONSUMER EXPENSE 778361 846155 69780782 1757406 1578135 54596 55584 6418535 5462007 173476 1313253 3768363 3412734 472358 461569 221047042 83924742 130728284 137122300 52020677 53091872 2286347 1985597 197680042 204483051 9192167 7189594 96716111 99765482 1244211 1282017 107152489 108237093 X 0 0 0 0 90527553 96245958 90527553 96245958 197680042 204483051 X 0 5718405 X X 0 1 X 0 0 360176 360176 9486279 2435307 7050972 204552008 81489435 123062573 6648579 6648579 137122300 PATRONAGE CAPITAL ASSOC. ORGS 164282 C PATRONAGE CAPITAL - KEPCO 1075905 C PATRONAGE CAPITAL - SUNFLOWER 36608232 C PATRONAGE CAPITAL - NISC 169134 C PATRONAGE CAPITAL - MKEC 11156769 C PATRONAGE CAPITAL - FEDERATED 494932 C PATRONAGE CAPITAL - CFC 1830543 C CAPITAL TERM CERTIFICATES - CFC 615073 C OTHER INVESTMENTS 977002 C 53091872 CUSTOMER DEPOSITS 710529 UNAMORTIZED GAIN ON REACQUIRED DEBT 252982 OTHER DEFERRED CREDITS 318506 1282017 X 69559645 0 69559645 221137 221137 69780782 63845035 0 63845035 5935747 5935747 69780782 PART X, LINE 2: THE COOPERATIVE FOLLOWS THE "UNCERTAIN TAX POSITIONS" PROVISIONS OF ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA. THE PRIMARY TAX POSITION OF THE COOPERATIVE IS ITS FILING STATUS AS A TAX EXEMPT ENTITY. THE COOPERATIVE DETERMINED THAT IT IS MORE LIKELY THAN NOT THAT THEIR TAX POSITIONS WILL BE SUSTAINED UPON EXAMINATION BY THE INTERNAL REVENUE SERVICE (IRS) AND THAT ALL TAX BENEFITS ARE LIKELY TO BE REALIZED UPON SETTLEMENT WITH TAXING AUTHORITIES. PART XI, LINE 4B - OTHER ADJUSTMENTS: MERCHANDISING/HVAC EXPENSES RECLASSED TO PART IX 221,137. PART XII, LINE 4B - OTHER ADJUSTMENTS: PATRONAGE CAPITAL ALLOCATED OR TO BE ALLOCATED 5,714,610. MERCHANDISING/HVAC EXPENSES RECLASSED TO PART IX 221,137. PART IX: THE AMOUNT OF OTHER ASSETS ON FORM 990, PAGE 11, PART X, LINE 15 DOES NOT EQUAL OR EXCEED 5% OF THE TOTAL ASSETS ON FORM 990, PAGE 11, PART X, LINE 16, COLUMN B. CONSEQUENTLY, IN ACCORDANCE WITH IRS INSTRUCTIONS, SCHEDULE D, PART IX HAS BEEN LEFT BLANK. 0 CITY OF CONCORDIA PO BOX 603 CONCORDIA KS 66901 486020606 GOVERNMENT 6000 0 ST. JOSEPH HOUSING PROJECT 1 PART II: ALL GRANTS, SPONSORSHIPS, AND/OR DONATIONS ARE MADE TO NON-PROFIT AND CIVIC ORGANIZATIONS THAT ARE LOCATED IN THE COOPERATIVE'S SERVICE AREA, AND ARE INTENDED TO IMPROVE THE COMMUNITIES IN WHICH OUR MEMBERS RESIDE. X X X 0 0 0 KIRK GIRARD CEO 295600 0 0 0 12420 0 266307 0 25401 0 599728 0 0 0 ALISHA STARK CFO/ASSISTANT CEO 206922 0 0 0 4676 0 66030 0 31450 0 309078 0 0 0 JAMES COASH OPERATIONS MANAGER 181665 0 0 0 8953 0 45253 0 22458 0 258329 0 0 0 APRIL KARNOPP DIRECTOR OF ADMINISTRATION 145156 0 0 0 2054 0 65823 0 33768 0 246801 0 0 0 KODY POUNDS DIRECTOR OF OPERATIONS 179857 0 0 0 4255 0 13064 0 31002 0 228178 0 0 0 SHANE SCHUMAKER DIRECTOR OF TECHNICAL SERVICES 156274 0 0 0 1162 0 38856 0 31509 0 227801 0 0 0 DAVID TIEMEYER AREA SUPERVISOR 130713 0 0 0 3785 0 54409 0 23621 0 212528 0 0 0 ELENA LARSON DIRECTOR OF MEMBER SVCS 149074 0 0 0 867 0 17691 0 29915 0 197547 0 0 0 JACOB EPLEY AREA SUPERVISOR 134269 0 0 0 2830 0 19867 0 31543 0 188509 0 0 0 PART II, COLUMN C: INCLUDED IN THIS AMOUNT IS THE INCREASE IN ACTUARIAL VALUE OF BENEFITS PAYABLE UNDER A DEFINED BENEFIT RETIREMENT PLAN. THE CONTRIBUTION RATE FOR PARTICIPANTS IN THE NRECA R&S DEFINED BENEFIT PENSION PLAN ARE THE SAME FOR ALL INDIVIDUALS IN THIS MULTI-EMPLOYER PLAN. THE CHANGE IN ACTUARIAL VALUE FOR EACH PARTICIPANT, HOWEVER, VARIES WITH AGE, YEARS OF SERVICE AND THE CURRENT INTEREST RATE ENVIRONMENT. IN OTHER WORDS, THE OLDER A PLAN PARTICIPANT IS, THE GREATER THE INCREASE IN THAT INDIVIDUAL'S CHANGE IN ACTUARIAL VALUE, ALL OTHER THINGS BEING EQUAL. BECAUSE THIS RELATES TO A MULTI-EMPLOYER PLAN, CASH CONTRIBUTIONS TO THE PLAN IN LIEU OF THE ACTUARIAL INCREASE ARE EXPENSED IN THE FINANCIAL STATEMENTS. KIRK GIRARD: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 257,355 EMPLOYER CONTRIBUTION TO 401(K) PLAN 8,952 TOTAL REPORTED IN COLUMN C $ 266,307 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (257,355) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 89,090 EXPENSE TO THE COOPERATIVE $ 98,042 ALISHA STARK: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 59,786 EMPLOYER CONTRIBUTION TO 401(K) PLAN 6,244 TOTAL REPORTED IN COLUMN C $ 66,030 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (59,786) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 58,908 EXPENSE TO THE COOPERATIVE $ 65,152 JAMES COASH: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 39,761 EMPLOYER CONTRIBUTION TO 401(K) PLAN 5,492 TOTAL REPORTED IN COLUMN C $ 45,253 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (39,761) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 54,850 EXPENSE TO THE COOPERATIVE $ 60,342 APRIL KARNOPP: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 61,353 EMPLOYER CONTRIBUTION TO 401(K) PLAN 4,470 TOTAL REPORTED IN COLUMN C $ 65,823 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (61,353) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 44,596 EXPENSE TO THE COOPERATIVE $ 49,066 KODY POUNDS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 11,349 EMPLOYER CONTRIBUTION TO 401(K) PLAN 1,715 TOTAL REPORTED IN COLUMN C $ 13,064 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (11,349) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 53,907 EXPENSE TO THE COOPERATIVE $ 55,622 SHANE SCHUMAKER: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 34,122 EMPLOYER CONTRIBUTION TO 401(K) PLAN 4,734 TOTAL REPORTED IN COLUMN C $ 38,856 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (34,122) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 47,176 EXPENSE TO THE COOPERATIVE $ 51,910 DAVID TIEMEYER: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 50,920 EMPLOYER CONTRIBUTION TO 401(K) PLAN 3,489 TOTAL REPORTED IN COLUMN C $ 54,409 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (50,920) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 34,844 EXPENSE TO THE COOPERATIVE $ 38,333 ELENA LARSON: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 17,691 EMPLOYER CONTRIBUTION TO 401(K) PLAN -0- TOTAL REPORTED IN COLUMN C $ 17,691 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (17,691) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 44,666 EXPENSE TO THE COOPERATIVE $ 44,666 JACOB EPLEY: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 16,452 EMPLOYER CONTRIBUTION TO 401(K) PLAN 3,415 TOTAL REPORTED IN COLUMN C $ 19,867 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (16,452) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 34,065 EXPENSE TO THE COOPERATIVE $ 37,480 FORM 990, PART VI, SECTION A, LINE 6 THE COOPERATIVE WAS FORMED BY THE MEMBERS TO PROVIDE ELECTRIC SERVICE AT COST ON A COOPERATIVE BASIS. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERS OF THE COOPERATIVE VOTE ON THE BOARD OF TRUSTEES. ELECTIONS ARE DONE ON A ONE MEMBER ONE VOTE BASIS. FORM 990, PART VI, SECTION A, LINE 7B THE FOLLOWING ACTS REQUIRE APPROVAL OF THE MEMBERS OF THE COOPERATIVE: 1. DISSOLUTION/LIQUIDATION OF THE COOPERATIVE 2. MERGER OR CONSOLIDATION OF THE COOPERATIVE WITH ANOTHER ORGANIZATION 3. DISPOSAL OF A SUBSTANTIAL PORTION OF THE COOPERATIVE'S ASSETS 4. AMENDMENT TO THE ARTICLES OF INCORPORATION 5. AMENDMENT TO THE BYLAWS 6. OTHER MATTERS RESERVED BY AND FOR THE MEMBERS, SUCH AS VOTING TO REMAIN REGULATED OR TO BECOME DEREGULATED. FORM 990, PART VI, SECTION A, LINE 8B THE COOPERATIVE HAS NO COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. THEREFORE, AND PURSUANT TO FORM 990 INSTRUCTIONS, THE QUESTION HAS BEEN ANSWERED "NO". FORM 990, PART VI, SECTION B, LINE 11B MANAGEMENT PRESENTED A COPY OF THE FORM 990 TO THE BOARD FOR DISCUSSION AND REVIEW PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY IS REVIEWED ANNUALLY BY THE BOARD OF TRUSTEES AND SENIOR MANAGEMENT. THEN THE CONFLICT OF INTEREST CERTIFICATION AND DISCLOSURE FORM IS COMPLETED. FORM 990, PART VI, SECTION B, LINE 15 PRAIRIE LAND COOPERATIVE ENROLLED IN THE NRECA COMPENSATION PROGRAM TO EVALUATE AND GRADE EACH POSITION WITHIN OUR COOPERATIVE. NRECA THEN PROVIDES PRAIRIE LAND ELECTRIC COOPERATIVE WITH THE REGIONAL AND NATIONAL WAGE RANGE FOR A POSITION WITH SIMILAR RESPONSIBILITIES. ALL WAGES ARE WITHIN THE PAY RANGE FOR EMPLOYEES. THE BOARD OF TRUSTEES APPROVES THE CEO WAGES ANNUALLY. FORM 990, PART VI, SECTION C, LINE 19 THE COOPERATIVE WILL PROVIDE A COMPLETE COPY OF ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND YEAR END FINANCIAL STATEMENTS TO ANY MEMBER WHO REQUESTS A COPY OF ANY SUCH DOCUMENT. ANNUALLY, THE COOPERATIVE PROVIDES A COPY OF THE YEAR END BALANCE SHEET AND INCOME STATEMENT TO THE MEMBERS OF THE COOPERATIVE WITH THE ANNUAL REPORT. THE ANNUAL REPORT AND BYLAWS CAN ALSO BE FOUND ON THE COOPERATIVE'S WEBSITE. FORM 990, PART VII, COLUMN F: IN ORDER TO PROVIDE RETIREMENT BENEFITS TO ITS EMPLOYEES, THE COOPERATIVE HAS ESTABLISHED A DEFINED CONTRIBUTION PLAN UNDER SECTION 401(K) OF THE INTERNAL REVENUE CODE. EMPLOYER CONTRIBUTIONS TO THE PLAN ARE MADE PURSUANT TO THE PLAN DOCUMENT. ADDITIONALLY, THE COOPERATIVE PARTICIPATES IN A MULTI-EMPLOYER DEFINED BENEFIT PLAN. CONTRIBUTIONS TO THIS PLAN ARE BASED ON THE FULL FUNDING LIMITATION OF SUCH PLAN. EMPLOYER CONTRIBUTIONS FOR BOTH PLANS ARE AVAILABLE TO PARTICIPATING EMPLOYEES, INCLUDING OFFICERS, KEY EMPLOYEES, AND HIGHLY COMPENSATED EMPLOYEES, MEETING THE ELIGIBILITY REQUIREMENTS OF SUCH PLANS. THE COOPERATIVE ALSO PROVIDES HEALTH AND LIFE INSURANCE TO ALL ELIGIBLE EMPLOYEES THROUGH A QUALIFIED PLAN. THE AMOUNTS REPORTED ON PART VII, COLUMN (F) FOR THE EMPLOYEE OFFICERS, KEY EMPLOYEES AND HIGHLY COMPENSATED EMPLOYEES IS COMPRISED OF ACTUARIAL INCREASE IN THE DEFINED BENEFIT PLAN, THE TOTAL AMOUNT CONTRIBUTED BY THE COOPERATIVE TO THE DEFINED CONTRIBUTION PLAN AND INSURANCE PAID ON BEHALF OF AND FOR THEIR BENEFIT. FORM 990, PART VIII, LINE 2B: PATRONAGE DIVIDENDS RESULT FROM THE PURCHASE OF WHOLESALE POWER FROM A GENERATION & TRANSMISSION COOPERATIVE. PATRONAGE DIVIDENDS ALSO RESULT FROM THE PAYMENT OF INTEREST FROM COOPERATIVE BANKS AND THE PURCHASE OF SUPPLIES AND SERVICES FROM OTHER COOPERATIVE ORGANIZATIONS. THE EXPENSES ASSOCIATED WITH PURCHASES FROM AND PAYMENTS TO SUCH COOPERATIVE ORGANIZATIONS ARE A DIRECT COMPONENT OF COST OF THE ELECTRIC SERVICE PROVIDED BY THE COOPERATIVE TO ITS MEMBERS. FORM 990, PART IX, LINES 5-7: SALARIES AND WAGES ARE ALLOCATED TO ASSET, LIABILITY, AND EXPENSE ACCOUNTS BASED ON THE ACCOUNTING SYSTEM DESCRIBED ABOVE. THE FOLLOWING SCHEDULE RECONCILES AMOUNTS REPORTED ON LINES 5-7 TO TOTAL WAGES ACCRUED AND/OR PAID: TOTAL PER LINES 5-7 $ 6,060,233 LESS: DIRECTOR FEES REPORTED ON FORMS 1099-NEC (146,300) LESS: EMPLOYEE OFFICER BENEFITS REPORTED ON LINE 5 (500,965) PLUS: SALARIES AND WAGES ALLOCATED TO NONOPERATING MARGINS 106,206 PLUS: SALARIES AND WAGES CAPITALIZED DIRECTLY TO PLANT 3,242,343 PLUS: SALARIES AND WAGES CAPITALIZED/EXPENSED INDIRECTLY THROUGH CLEARING & OTHER ACCOUNTS 277,595 TOTAL WAGES ACCRUED AND/OR PAID $ 9,039,112 FORM 990, PART IX, LINE 24E: OTHER EXPENSES IS COMPRISED OF THE FOLLOWING: TAXES $ 3,706 TRANSMISSION 621,312 OTHER DEDUCTIONS 221,137 TOTAL OTHER EXPENSES PER FORM 990, PART IX $ 846,155 FORM 990, PART IX, LINE 4: PURSUANT TO THE FORM 990 INSTRUCTIONS, THE AMOUNT OF PATRONAGE DIVIDENDS PAID TO THE MEMBERS (HEREINAFTER REFERRED TO AS "PATRONS") SHOULD BE REPORTED ON PART IX, LINE 4. THE PHRASE "PATRONAGE DIVIDENDS PAID" REFERS TO THE PROCESS, SUBSEQUENT TO YEAR-END, BY WHICH THE COOPERATIVE ALLOCATES PATRONAGE CAPITAL TO AND, THEREFORE, OPERATES AT COST WITH ITS PATRONS. THE COOPERATIVE'S TAX EXEMPT PURPOSE IS TO PROVIDE ELECTRICITY TO ITS PATRONS AND TO DO SO ON A COOPERATIVE BASIS. TAX LAW DEFINES "OPERATING ON A COOPERATIVE BASIS" AS SUBORDINATION OF CAPITAL, DEMOCRATIC CONTROL, AND OPERATION AT COST. THE COOPERATIVE OPERATES AT COST THROUGH THE ALLOCATION OF TRUE PATRONAGE DIVIDENDS (ALSO REFERRED TO AS ALLOCATIONS OF PATRONAGE CAPITAL) TO ITS PATRONS. PATRONAGE DIVIDENDS ARE CONSIDERED PAID IF THE ALLOCATION IS MADE (1) PURSUANT TO A PRE-EXISTING OBLIGATION, (2) FROM THE MARGINS PRODUCED FROM THE TRANSACTIONS DONE WITH OR FOR PATRONS, AND (3) IN A FAIR AND EQUITABLE MANNER ON THE BASIS OF PATRONAGE (I.E. PURCHASES). ADDITIONALLY, THE ALLOCATION OF PATRONAGE DIVIDENDS SHOULD BE MADE WITHIN A REASONABLE TIME PERIOD AFTER THE CLOSE OF THE COOPERATIVE'S YEAR-END OF DECEMBER 31. EACH ONE OF THESE REQUIREMENTS FOR A TRUE PATRONAGE DIVIDEND IS PROVIDED FOR IN THE NON-PROFIT OPERATION ARTICLE OF THE COOPERATIVE'S BYLAWS. THE AMOUNT REPORTED ON PART IX, LINE 4 REPRESENTS THE AMOUNT OF PATRONAGE CAPITAL THAT IS EITHER ALLOCATED OR TO BE ALLOCATED TO THE PATRONS RESULTING FROM THEIR PURCHASE OF ELECTRICITY FROM THE COOPERATIVE FOR THE 2024 CALENDAR YEAR. BECAUSE PATRONAGE DIVIDENDS ARE THE PROCESS BY WHICH THE COOPERATIVE OPERATES AT COST WITH ITS PATRONS AND THEREBY A KEY COMPONENT TO ACCOMPLISHING ITS EXEMPT PURPOSE, THE COOPERATIVE HAS REPORTED SUCH AMOUNTS AS AN EXPENSE FOR FORM 990 REPORTING. PATRONAGE DIVIDENDS ARE NOT AN EXPENSE FOR FINANCIAL STATEMENTS PREPARED IN ACCORDANCE WITH GENERALLY ACCEPTED ACCOUNTING PRINCIPLES, HOWEVER. FORM 990, PART IX, LINE 24: ADMINISTRATIVE & GENERAL EXPENSE IS COMPRISED OF THE FOLLOWING: ADMINISTRATIVE & GENERAL SALARIES, BENEFITS, & OTHER $ 2,088,034 OFFICE SUPPLIES 296,408 OUTSIDE SERVICES 220,098 INJURIES AND DAMAGES 294,342 EMPLOYEE PENSION & BENEFITS 144,596 REGULATORY COMMISSION 8,918 DIRECTORS 194,943 ANNUAL MEETING EXPENSE 63,798 ADVERTISING 13,269 DONATIONS 35,565 DUES AND SUBSCRIPTIONS 144,663 MISCELLANEOUS GENERAL 379,099 MAINTENANCE OF GENERAL PLANT 181,115 TOTAL ADMIN & GENERAL EXP PER FINANCIAL STATEMENTS $ 4,064,848 LESS: RECLASS OF DONATIONS TO PART IX, LINE 1 (35,564) LESS: RECLASS OF DIRECTOR FEES TO PART IX, LINE 5 (146,300) LESS: RECLASS OF LABOR TO PART IX, LINES 5 & 7 (1,551,513) LESS: RECLASS OF BENEFITS TO PART IX, LINES 8-10 (780,759) TOTAL ADMIN & GENERAL EXPENSE PER FORM 990, PART IX $ 1,550,712 FORM 990, PART IX: THE ACCOUNTING RECORDS OF THE COOPERATIVE ARE MAINTAINED IN ACCORDANCE WITH THE RURAL UTILITIES SERVICE (RUS) UNIFORM SYSTEM OF ACCOUNTS (USOA) AS PRESCRIBED FOR RUS ELECTRIC BORROWERS. THE USOA DOES NOT RECORD EXPENSES IN THE GENERAL EXPENSE CATEGORIES PROVIDED ON PART IX LINES 1-23. THE COOPERATIVE SEPARATELY REPORTS SALARIES AND WAGES, EMPLOYEE BENEFITS AND PAYROLL TAXES THAT ARE ALLOCATED IN ACCORDANCE WITH THEIR ACCOUNTING SYSTEM, BUT OTHER EXPENSES THAT ARE DESCRIBED IN LINES 1-23 ARE REPORTED ON LINE 24 UNDER THE EXPENSE CATEGORIES REQUIRED BY THE USOA. FORM 990, PART XI, LINE 9: PATRONAGE CAPITAL ASSIGNABLE 5,714,610. PATRONAGE CAPITAL RETIRED - TOTAL -312,912. PATRONAGE CAPITAL RETIRED - DISCOUNT 196,395. DONATED CAPITAL 120,312. FORM 990, PART XII, LINE 2C: THE BOARD AS A WHOLE IS RESPONSIBLE FOR OVERSEEING THE FINANCIAL STATEMENT AUDIT AND SELECTING THE INDEPENDENT FINANCIAL STATEMENT AUDITOR. PROCEDURAL CHANGES DID NOT OCCUR DURING THE YEAR. PRAIRIE LAND PLUS INC PO BOX 360 NORTON KS 67654 481148506 DORMANT CORPORATION KS PRAIRIE LAND ELECTRIC COOPERATIVE INC C 1.00000 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0