2026-06-22T15:30:17-05:00 2025-12-31 450250958 EIDE BAILLY LLP 345 N REID PL STE 400 SIOUX FALLS SD 571037034 990 2025-01-01 420243365 FARMERS ELECTRIC COOPERATIVE INC FARM 6417436146 2389 HWY 92 PO BOX 330 GREENFIELD IA 50849 HOLI WESTON CEO 6417436146 2026-06-22 1 LAURIE HANSON CPA P00851848 6053391999 2026-06-22 2025 2025-03-06 01:10:19Z HOLI WESTON 2389 HWY 92 PO BOX 330 GREENFIELD IA 50849 15968983 0 X WWW.FARMERSREC.COM X 1938 IA TO PROVIDE OUR MEMBERS WITH A DEPENDABLE QUALITY AND QUANTITY OF ELECTRICAL ENERGY. 9 9 24 5 0 0 0 0 15311345 15760211 247109 114900 40648 -27930 15599102 15847181 15850 5404 1841065 1764682 2493479 2531929 0 0 0 11044566 11349090 15394960 15651105 204142 196076 47959932 49578006 22098066 22598862 25861866 26979144 FARMERS ELECTRIC COOPERATIVE, INC. EXISTS TO DELIVER SAFE, RELIABLE, AFFORDABLE ELECTRICITY AND OTHER SERVICES TO IMPROVE THE QUALITY OF LIFE WITHIN OUR COMMUNITIES. 0 0 PROVIDED ELECTRIC SERVICE TO APPROXIMATELY 5,130 METERS AND ADDED 14.2 MILES OF LINE. 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 1 0 0 1 21 0 1 24 1 0 0 0 0 0 15444391 778683 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 LORI KINYON 6417436146 2389 HWY 92 PO BOX 330 GREENFIELD IA 50849 X DANIEL WESTPHAL BOARD PRESIDENT 6.10 X X 9150 0 0 MARK EARHART VICE-PRESIDENT 5.90 X X 10150 0 0 KEVIN TANNER SECRETARY 5.00 X X 7975 0 0 ROXANN RHOADS TREASURER 5.90 X X 9925 0 0 CARY GILMAN DIRECTOR 5.90 X 8225 0 0 JANELLE PEIFFER DIRECTOR 4.80 X 8925 0 0 KRIS PETTER DIRECTOR 5.90 X 8225 0 0 KEVIN STENDER DIRECTOR 5.20 X 7175 0 0 JOE TAYLOR DIRECTOR (AS OF SEPT) 5.40 X 2550 0 0 STEPHEN CHANDLER DIRECTOR (UNTIL SEPT) 5.80 X 4900 0 0 HOLI WESTON CEO 40.00 X 146016 0 63415 LORI KINYON CFO 40.00 X 112839 0 41070 DAVID SHIKE DIRECTOR OF OPERATIONS 40.00 X 113920 0 21369 JAMES KINTIGH LINEMAN-FOREMAN 42.40 X 108382 0 74580 DARRIAN FISCHER JOURNEYMAN LINEMAN 44.10 X 107581 0 15511 CHAD BERREY JOURNEYMAN LINEMAN 44.50 X 105996 0 29414 MASON WISSE JOURNEYMAN LINEMAN 44.50 X 104953 0 15765 876887 0 261124 8 0 1 0 NATIONAL INFORMATION SOLUTIONS PO BOX 1147 MANDAN ND 58554 SOFTWARE/PRINTING 121222 1 SALE OF POWER 221000 15057750 15057750 CAPITAL CREDITS 221000 702461 702461 15760211 101146 101146 69400 55646 13754 13754 13754 37026 66156 -29130 -29130 1200 1200 1200 15847181 15732281 0 114900 5404 1764682 424586 1644122 317643 145578 716283 1492713 COST OF POWER 8052987 DISTRIBUTION-OPERATIONS 1344902 ADMIN & GENERAL 1045071 DISTRIBUTION-MAINTENANC 846396 -2149262 15651105 2295944 2641309 1598994 1480576 1496308 1362006 891291 753407 124454 156781 51154822 15433157 34208524 35721665 7338482 7456508 5935 5754 47959932 49578006 1390378 1521551 20590421 19300580 117267 1776731 22098066 22598862 X 0 0 0 0 25861866 26979144 25861866 26979144 47959932 49578006 X 196076 921202 X 0 1 X 1 0 0 0 233056 233056 1996008 565113 1430895 46734127 14868044 31866083 2191631 2191631 35721665 RURAL ELECTRIC SUPPLY COOPERATIVE 6645 C PATRONAGE CAPITAL CREDITS 6898531 C NATIONAL RURAL COOPERATIVE FINANCE CORPORATION 535627 C MEMBERSHIPS 5705 C COOPERATIVE RESPONSE CENTER, INC. 10000 C 7456508 CUSTOMER DEPOSITS 42455 DEFERRED CREDITS 1734276 1776731 X 15847181 0 15847181 0 15847181 13886423 0 13886423 1764682 1764682 15651105 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, 2025 AND 2024, THE UNRECOGNIZED TAX BENEFIT ACCRUAL WAS ZERO. THE COOPERATIVE WILL RECOGNIZE FUTURE ACCRUED INTEREST AND PENALTIES RELATED TO UNRECOGNIZED TAX BENEFITS IN INCOME TAX EXPENSE IF INCURRED. PART XII, LINE 4B - OTHER ADJUSTMENTS: ALLOCATION OF 2025 MARGINS TO MEMBERS IN 2026 1,764,682. X X 0 0 0 HOLI WESTON CEO 138131 0 355 0 7530 0 46958 0 17988 0 210962 0 0 0 JAMES KINTIGH LINEMAN-FOREMAN 107212 0 355 0 815 0 66586 0 9079 0 184047 0 0 0 LORI KINYON CFO 110973 0 355 0 1511 0 33075 0 9186 0 155100 0 0 0 FORM 990, SCHEDULE J, PART II, COLUMN C: PART II, COLUMN C INCLUDES THE CHANGE IN ACTUARIAL VALUE IN THE DEFINED BENEFIT PLAN OF $41,001 FOR HOLI WESTON, $62,424 FOR JAMES KINTIGH, AND $28,530 FOR LORI KINYON. THE ACTUAL CONTRIBUTION TO THE DEFINED BENEFIT PLAN FOR HOLI WESTON WAS $28,587, $20,277 FOR JAMES KINTIGH, AND $22,267 FOR LORI KINYON. FORM 990, PART VI, SECTION A, LINE 6 ALL MEMBERS ARE OF THE SAME CLASS. FORM 990, PART VI, SECTION A, LINE 7A ALL MEMBERS HAVE ONE VOTE. FORM 990, PART VI, SECTION A, LINE 7B REVISIONS TO THE ARTICLES OF INCORPORATION REQUIRE A VOTE FROM THE MEMBERS. FORM 990, PART VI, SECTION A, LINE 8B THE COOPERATIVE DOES NOT HAVE COMMITTEES WITH THE BROAD AUTHORITY TO ACT ON BEHALF OF THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 WILL BE PRESENTED AT THE REGULARLY SCHEDULED BOARD MEETING BY THE CEO. FORM 990, PART VI, SECTION B, LINE 12C ALL DIRECTORS, OFFICERS, AND MEMBERS OF MANAGEMENT ARE COVERED BY THE CONFLICT OF INTEREST POLICY. POTENTIAL CONFLICTS ARE DISCUSSED AND DETERMINED AT THE BOARD LEVEL. PERSONS WITH CONFLICTS ABSTAIN FROM DISCUSSION AND VOTING ON THE ISSUE AT HAND. FORM 990, PART VI, SECTION B, LINE 15A THE BOARD OF DIRECTORS DETERMINED THE COMPENSATION FOR THE CEO THROUGH THE USE OF COMPARATIVE DATA OF OTHER ELECTRIC COOPERATIVES IN THE REGION AND THROUGH A PERFORMANCE EVALUATION. THE DISCUSSION AND DECISION BY THE BOARD WERE DOCUMENTED. THIS PROCESS WAS UNDERTAKEN IN 2025. FORM 990, PART VI, SECTION C, LINE 19 THE ARTICLES OF INCORPORATION AND BY-LAWS ARE GIVEN TO NEW MEMBERS. THE FINANCIAL STATEMENTS ARE PROVIDED IN THE ANNUAL REPORT OR UPON REQUEST. THE CONFLICT OF INTEREST POLICY IS 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. 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 XI, LINE 9: RETIREMENT OF CAPITAL CREDITS -843,480. ALLOCATION OF 2025 MARGINS TO MEMBERS IN 2026 1,764,682. 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. SOUTHWEST IOWA FARMERS SERVICE INC 2389 HWY 92 GREENFIELD IA 50849 421466097 INACTIVE IA FARMERS 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