2026-06-22T15:34:30-05:00 2025-12-31 450250958 EIDE BAILLY LLP 18081 BURT ST STE 200 OMAHA NE 680224722 990 2025-01-01 420165440 CALHOUN COUNTY ELECTRIC COOPERATIVE ASSOCIATION CALH 7122977112 PO BOX 312 ROCKWELL CITY IA 50579 JIM MILLER PRESIDENT 7122977112 2026-06-22 1 MEGAN L KOZIOL CPA P01544037 4023302660 2026-06-22 2025 2025-03-06 01:10:19Z JIM MILLER PO BOX 312 ROCKWELL CITY IA 50579 6399446 0 X WWW.CALHOUNREC.COOP X 1936 IA TO PROVIDE ELECTRICITY TO OUR MEMBERS. 7 7 12 0 0 0 0 0 6161714 6376655 15473 22791 0 0 6177187 6399446 2049 3375 300000 280699 1081341 1143319 0 0 0 4534906 4704077 5918296 6131470 258891 267976 22532620 23220112 12378929 12696782 10153691 10523330 WE PROVIDE OUR MEMBER-OWNERS SAFE, RELIABLE, AND RESPONSIBLE ELECTRIC SERVICE AT A FAIR PRICE AND DEMONSTRATE OUR COMMITMENT TO COMMUNITIES BY OFFERING OTHER VALUE-ADDED SERVICES. 0 0 CALHOUN COUNTY ELECTRIC COOPERATIVE ASSOCIATION IS A RURAL ELECTRIC COOPERATIVE THAT PROVIDES ELECTRICITY TO ITS MEMBERS. IN 2025, THE COOPERATIVE PROVIDED SERVICE TO APPROXIMATELY 1,665 MEMBERS AND MAINTAINED 758.47 MILES OF OVERHEAD LINE WHILE ADDING 0.8955 MILES AND REMOVING 1.4985 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 10 0 1 12 1 0 0 0 0 0 6064054 239778 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 4.00 X X 6000 0 3 STEVE BOEDECKER VICE-PRESIDENT 3.00 X X 4800 0 3 DUANE BESCHORNER TREASURER 3.00 X X 5100 0 3 JASON MCKENNEY SECRETARY 2.00 X X 5100 0 3 DARCY MAULSBY DIRECTOR 3.00 X 5700 0 3 JOE PARKER DIRECTOR 3.00 X 4800 0 3 STEVE PELZ DIRECTOR 2.00 X 4800 0 3 KEATON HILDRETH CEO 25.00 X 76168 0 23888 BRET MCALISTER LINE SUPERINTENDENT 43.00 X 113819 0 41604 REID GALLOWAY LINE FOREMAN 42.00 X 113681 0 26717 DOUG LEMONDS LINE TECHNICIAN 42.00 X 103747 0 44479 JARED KUHLERS LINE TECHNICIAN 42.00 X 102462 0 39451 CHAD KRUKOW LINE TECHNICIAN 42.00 X 103367 0 39132 649544 0 215292 7 0 1 0 0 SALE OF POWER 221000 6014705 6014705 CAPITAL CREDITS 221000 356049 356049 5901 5901 6376655 22791 22791 6399446 6376655 0 22791 X 3375 280699 142548 923799 76972 74106 36379 30255 95937 351041 623679 30848 COST OF POWER 3354289 DISTRIBUTION - MAINTENA 418746 ADMINISTRATIVE & GENERA 350047 DISTRIBUTION - OPERATIO 298024 -959274 6131470 106739 133109 163762 411222 535490 574423 391723 370591 90083 111006 21505657 5331756 15822456 16173901 1637183 1507956 3785184 3937904 22532620 23220112 497209 520836 1022 829 11380828 11688846 225000 225000 274870 261271 12378929 12696782 X 0 0 5850 5855 10147841 10517475 10153691 10523330 22532620 23220112 X 267976 101663 X X 0 1 X 1 0 0 1 X 67179 67179 708764 461873 246891 20721428 4869883 15851545 8286 8286 16173901 ECONOMIC DEVELOPMENT NOTES RECEIVABLE 1507956 C 1507956 CORN BELT POWER COOPERATIVE 3347653 C NATIONAL RURAL TELECOMMUNICATIONS COOPERATIVE 97212 C NATIONAL RURAL UTILITIES COOPERATIVE 123344 C FEDERATED RURAL ELECTRIC INSURANCE 59379 C RURAL ELECTRIC SUPPLY COOPERATIVE 106813 C COOPERATIVE RESPONSE CENTER 11110 C NATIONAL INFORMATION SOLUTIONS COOPERATIVE 4115 C OTHER INVESTMENTS 3800 C NRUCFC CERTIFICATES 184478 C 3937904 DEFERRED CREDITS 1583 POSTRETIREMENT BENEFITS 224088 CUSTOMER DEPOSITS 35600 261271 X 6396071 -3375 -3375 6399446 0 6399446 5847396 0 5847396 284074 284074 6131470 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, 2025 AND 2024, THE UNRECOGNIZED TAX BENEFITS ACCRUAL WAS ZERO. PART XI, LINE 2D - OTHER ADJUSTMENTS: EXPENSES NETTED WITH REVENUE ON AUDIT -3,375. PART XII, LINE 4B - OTHER ADJUSTMENTS: 2025 MARGINS ALLOCATED IN 2026 280,699. EXPENSES NETTED WITH REVENUE ON AUDIT 3,375. X X 0 0 0 BRET MCALISTER LINE SUPERINTENDENT 113819 0 0 0 0 0 40604 0 1000 0 155423 0 0 0 FORM 990, SCHEDULE J, PART II, COLUMN C INCLUDED IN COLUMN C IS CHANGE IN ACTUARIAL VALUE OF THE DEFINED BENEFIT PLAN FOR BRET MCALISTER OF $40,604. ACTUAL CONTRIBUTION EXPENSE WAS $22,114. FORM 990, PART VI, SECTION A, LINE 6 CALHOUN COUNTY ELECTRIC COOPERATIVE ASSOCIATION HAS APPROXIMATELY 1,600 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 ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS 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 2025 MARGINS IN 2026 280,699. RETIREMENT OF CAPITAL CREDITS -188,168. GAIN/LOSS ON RETIREMENT OF CAPITAL CREDITS 30,610. CHANGE IN MEMBERSHIPS 5. DONATED CAPITAL 8,404. EDUCATION FUND EXPENSES -29,900. OTHER ADJUSTMENT 13. 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. THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.