2025-10-28T14:24:57-05:00 2024-12-31 410746749 CLIFTONLARSONALLEN LLP 2689 COMMERCE DRIVE NW SUITE 201 ROCHESTER MN 55901 990 2024-01-01 421506645 PRAIRIE ENERGY COOPERATIVE PRAI 5155322805 PO BOX 353 CLARION IA 50525 TIM MARIENAU CEO 5155322805 2025-10-28 1 0 KATHERINE LUTZKE CPA P01760889 5072802300 2025-10-28 2024 2025-03-06 01:10:19Z TIM MARIENAU PO BOX 353 CLARION IA 50525 34704728 0 X WWW.PRAIRIEENERGY.COOP X 2000 IA TO PROVIDE ELECTRIC POWER TO THE COOPERATIVE'S MEMBERS LOCATED PRIMARILY IN THE RURAL AREAS OF WRIGHT AND HANCOCK COUNTIES OF THE STATE OF IOWA. 7 7 32 0 34617 38223 0 0 30904943 31716017 86883 81550 3228585 2750919 34220411 34548486 0 0 3319567 2081316 2420331 2672639 0 0 0 27513786 27897368 33253684 32651323 966727 1897163 75754465 80505105 36384323 38655524 39370142 41849581 TO PROVIDE LEADERSHIP, SOLUTIONS AND SERVICE TO ENRICH QUALITY OF LIFE IN OUR COMMUNITY. 0 0 PROVISION OF ELECTRIC POWER TO MEMBERS LOCATED PRIMARILY IN THE RURAL AREAS OF WRIGHT AND HANCOCK COUNTIES OF THE STATE OF IOWA. 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 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 109 0 1 32 1 1 1 0 0 0 0 32154713 2950067 0 0 0 X 7 7 0 0 0 0 1 1 1 1 0 0 0 1 1 1 1 1 1 1 1 0 X TIM MARIENAU 5155322805 PO BOX 353 CLARION IA 50525 MARION DENGER PRESIDENT 5.00 0.00 X X 11700 0 0 SCOTT HASTY VICE PRESIDENT 4.00 0.00 X X 13200 0 0 JOSHUA AMONSON VICE PRESIDENT - PART YEAR 3.50 0.00 X X 4800 0 0 DONALD CHRISTOPHERSON SECRETARY/TREASURER 4.00 0.00 X X 15000 0 0 ALLYN WADDINGHAM ASSISTANT SECRETARY/TREASURER 4.00 0.00 X X 14100 0 0 RYAN EEKHOFF DIRECTOR 4.00 0.00 X 15000 0 0 TED HALL DIRECTOR 4.00 0.00 X 9000 0 0 ANNETTE JULSON DIRECTOR 4.00 0.00 X 4800 0 0 TIM MARIENAU CHIEF EXECUTIVE OFFICER 45.00 0.00 X 145628 0 68311 LORI DEMUTH FINANCE MANAGER 43.00 0.00 X 97245 0 31238 KEN NOREM DIR. OPERATIONS & ENGINEER 41.00 0.00 X 145673 0 99352 WESTON HELD LINEMAN 42.00 0.00 X 111326 0 26493 HUNTER VENZ LEAD LINEMAN 42.00 0.00 X 108390 0 23908 STEVE JACKSON OPERATIONS COORDINATOR 42.00 0.00 X 106752 0 68870 ANDREW STUPKA FOREMAN 43.00 0.00 X 111150 0 45755 913764 0 363927 8 0 1 0 HIGHLINE CONSTRUCTION INC 16124 OLD LAKE RD PAYNESVILLE MN 56362 LINE BUILDS FOR FEMA MITIGATION PROJECT 2606059 LEGACY POWER LINE INC 12822 US 10 WADENA MN 56482 LINE BUILDS 909336 GLOBAL MAPPING SOLUTIONS LLC 5753 SUNFLOWER CIR SARASOTA FL 34238 GIS MAPPING OF TERRITORY 110146 JACOB KVALE DBA KVALE TREE SERVICE 2745 CALHOUN AVE EAGLE GROVE IA 50533 TREE TRIMMING AND TREE REMOVAL 103545 4 SALE OF POWER 517000 31697013 31697013 METER TECH 517000 19004 19004 31716017 96376 96376 1000 18580 -17580 -17580 -17580 14826 -14826 -14826 -14826 110870 122836 -11966 -7781 -4185 CAPITAL CREDITS 523000 2737643 2737643 NEW HORIZONS K-1 517000 43272 43272 EQUITY IN EARNINGS OF SUBSIDIARY 523000 424 424 -874 -874 2780465 34548486 34454084 34617 59785 2081316 430022 1134043 609287 499287 863435 2062184 COST OF POWER 23766348 DISTRIBUTION EXPENSE - 430280 ADMINISTRATIVE & GENERA 411227 DISTRIBUTION EXPENSE - 388905 -25011 32651323 817493 1208571 1146455 551861 2680065 2712466 1114958 1104236 411972 417778 68433086 21427152 43134952 47005934 489465 489916 25952574 27008301 6531 6042 75754465 80505105 3214519 3440894 647272 313303 32484066 34856540 38466 44787 36384323 38655524 X 0 0 0 0 39370142 41849581 39370142 41849581 75754465 80505105 X 1897163 582276 X X 0 1 X 1 1 1 100679 100679 2152217 822332 1329885 5763951 2153137 3610814 60416239 18451683 41964556 47005934 PAT CAPITAL IN ASSOC ORGS 21804793 C CFC MEMBER CAPITAL - SECS 500000 C CFC CAPITAL TERM CERTS 439317 C ECON DEVELOPMENT LOANS 4128743 C OTHER INVESTMENTS 135448 C 27008301 CONSUMER DEPOSITS 23754 PATRONAGE REFUND PAYABLE 21033 44787 X 34485283 -20805 -20805 34506088 42398 42398 34548486 30549202 -20805 -20805 30570007 2081316 2081316 32651323 PART X, LINE 2: THE COOPERATIVE IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(12) OF THE INTERNAL REVENUE CODE. ACCORDINGLY, NO PROVISION FOR INCOME TAXES HAS BEEN RECORDED AT DECEMBER 31, 2024 AND 2023. THE COOPERATIVE IS SUBJECT TO TAX ON ITS UNRELATED BUSINESS INCOME. THE COOPERATIVE HAD OPERATING LOSSES FROM ITS UNRELATED BUSINESS IN 2024 AND 2023, AND ACCORDINGLY HAD NO TAXES DUE FOR THESE YEARS. THE COOPERATIVE HAS A NET OPERATING LOSS CARRYFORWARD OF APPROXIMATELY $7,200 AVAILABLE TO OFFSET FUTURE TAXABLE INCOME. HOWEVER, A VALUATION ALLOWANCE HAS BEEN RECORDED FOR THE FULL AMOUNT OF THE DEFERRED TAX ASSET, AS THERE IS NO GUARANTEE OF FUTURE INCOME. NET OPERATING LOSS CARRYFORWARDS BEGIN EXPIRING IN 2023. THE COOPERATIVE HAS EVALUATED ITS TAX POSITIONS AND DETERMINED THAT IT HAS NO UNCERTAIN TAX POSITIONS AS OF DECEMBER 31, 2024 AND 2023. PART XI, LINE 2D - OTHER ADJUSTMENTS: REVENUES REPORTED AS EXPENSES - METER TECH EXPENSES -20,805. PART XI, LINE 4B - OTHER ADJUSTMENTS: EARNINGS FROM K-1 INVESTMENTS 42,398. PART XII, LINE 2D - OTHER ADJUSTMENTS: REVENUES REPORTED AS EXPENSES - METER TECH EXPENSES -20,805. PART XII, LINE 4B - OTHER ADJUSTMENTS: PATRONAGE DIVIDENDS ALLOCATED 2,081,316. X X 0 0 0 KEN NOREM DIR. OPERATIONS & ENGINEER 145673 0 0 0 0 0 61082 0 38270 0 245025 0 0 0 TIM MARIENAU CHIEF EXECUTIVE OFFICER 145628 0 0 0 0 0 37394 0 30917 0 213939 0 0 0 STEVE JACKSON OPERATIONS COORDINATOR 106752 0 0 0 0 0 34752 0 34118 0 175622 0 0 0 ANDREW STUPKA FOREMAN 111150 0 0 0 0 0 6420 0 39335 0 156905 0 0 0 PART I, LINE 3 DECEMBER OF PRIOR YEAR BOARD VIEWS NRECA COMPENSATION SURVEY AND SETS COMPENSATION FOR NEXT YEAR. NO COMMITTEE, IT'S FULL BOARD. FORM 990, PART VI, SECTION A, LINE 6 ALL ELECTRIC CUSTOMERS OF THE COOPERATIVE ARE MEMBERS. THERE IS ONE CLASS OF MEMBERSHIP WITH EQUAL VOTING RIGHTS. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS ELECT THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 7B THE MEMBERSHIP VOTES ON ANY CHANGES TO THE ARTICLES OF INCORPORATION AS WELL AS ANY MERGERS OR A MOTION TO DISSOLVE THE COOPERATIVE. FORM 990, PART VI, SECTION A, LINE 8B THERE ARE NO COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B AN INDEPENDENT ACCOUNTING FIRM PREPARES AND REVIEWS THE 990. THE 990 IS THEN REVIEWED BY MANAGEMENT. ANY QUESTIONS OR CONCERNS ARE ADDRESSED AND CORRECTIONS OR CLARIFICATIONS ARE MADE. THE FINAL 990 WITH ALL REQUIRED SCHEDULES IS THEN PROVIDED TO ALL VOTING MEMBERS OF THE BOARD PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C ALL EMPLOYEES AND MEMBERS OF THE BOARD ARE REQUIRED TO DISCLOSE POTENTIAL CONFLICTS OF INTEREST ON AN ANNUAL BASIS. NEW EMPLOYEES AND BOARD MEMBERS MUST DISCLOSE ANY SUCH POTENTIAL CONFLICTS UPON BEGINNING THEIR EMPLOYMENT OR BOARD TERM. IT IS THE RESPONSIBILITY OF THE BOARD PRESIDENT TO ADDRESS POTENTIAL CONFLICTS OF INTEREST CONCERNING BOARD MEMBERS, AND TO TAKE APPROPRIATE ACTION IF REQUIRED. THE GENERAL MANAGER IS RESPONSIBLE FOR ADDRESSING ANY POTENTIAL CONFLICTS FOR EMPLOYEES, AND FOR TAKING ANY APPROPRIATE ACTION REQUIRED. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD REVIEWS THE GENERAL MANAGER'S COMPENSATION PACKAGE ON AN ANNUAL BASIS. THEY USE COMPARATIVE COMPENSATION DATA PROVIDED BY THE NATIONAL ORGANIZATION FOR CEOS IN THE STATE OF IOWA IN DETERMINING THE COMPENSATION PACKAGE FOR THE GENERAL MANAGER. THIS PROCESS IS COMPLETED ANNUALLY, AND DOCUMENTED IN THE BOARD MINUTES. THE GENERAL MANAGER REVIEWS COMPENSATION FOR ALL EMPLOYEES ON AN ANNUAL BASIS, USING COMPENSATION DATA PROVIDED BY THE NATIONAL ORGANIZATION, IN DETERMINING APPROPRIATE COMPENSATION LEVELS FOR EMPLOYEES. THE PROPOSED COMPENSATION LEVELS ARE THEN SUBMITTED TO THE BOARD OF DIRECTORS FOR THEIR REVIEW AND APPROVAL. THIS PROCESS IS DOCUMENTED IN THE PERSONNEL FILE. THE PROCESS DESCRIBED HERE WAS LAST COMPLETED IN 2024. FORM 990, PART VI, SECTION C, LINE 19 THE COOPERATIVE MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: CAPITAL CREDITS RETIRED -1,456,642. EQUITY IN EARNINGS - K-1'S -42,398. PATRONAGE DIVIDENDS ALLOCATED 2,081,316. FORM 990, PART XII, LINE 2C: THE PROCESS FOR THE OVERSIGHT OF THE AUDIT AND THE SELECTION OF AN INDEPENDENT ACCOUNTANT BY THE BOARD OF DIRECTORS HAS NOT CHANGED. FORM 990, PART IX, LINE 4: THE IRS INSTRUCTIONS STATE THAT PATRONAGE DIVIDENDS PAID BY SECTION 501(C)(12) ORGANIZATIONS TO THEIR MEMBERS SHOULD BE REPORTED ON LINE 4. THE ORGANIZATION HAS INTERPRETED PATRONAGE DIVIDENDS PAID TO MEAN PATRONAGE DIVIDENDS ALLOCATED OR TO BE ALLOCATED FOR THE CURRENT YEAR. SINCE THIS ALLOCATION IS NOT AN EXPENSE UNDER GENERALLY ACCEPTED ACCOUNTING PRINCIPLES (GAAP), THIS HAS RESULTED IN A RECONCILING ITEM TO NET ASSETS IN PART XI, ON PAGE 12 OF THE FORM 990. PRAIRIE ENERGY DEVELOPMENT LLC 2099 HWY 3 W CLARION IA 50525 421514728 LAND DEVELOPMENT IA 1073 411442 0 0 0.50000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0