2026-06-25T10:29:23-05:00 2025-12-31 450250958 EIDE BAILLY LLP 18081 BURT ST STE 200 OMAHA NE 680224722 990 2025-01-01 410387084 LYON-LINCOLN ELECTRIC COOPERATIVE LYON 5072475505 205 W HWY 14 TYLER MN 56178 TIMOTHY O'LEARY GENERAL MANAGER 5072475505 2026-06-25 1 MEGAN L KOZIOL CPA P01544037 4023302660 2026-06-25 2025 2025-03-06 01:10:19Z TIMOTHY O'LEARY 205 W HWY 14 TYLER MN 56178 13179231 0 X WWW.LLEC.COOP X 1939 MN TO PROVIDE ELECTRICITY TO RURAL AREAS. 9 9 16 0 0 0 0 0 11800719 13086336 161928 88660 1104 703 11963751 13175699 6677 3667 841175 1107145 2152628 2209859 0 0 0 8963271 9855028 11963751 13175699 0 0 43497391 45409372 26025022 27464581 17472369 17944791 TO PROVIDE RELIABLE ELECTRICITY AND OTHER NEEDED SERVICES TO ENHANCE THE QUALITY OF LIFE IN OUR RURAL COMMUNITIES. 0 0 PROVIDED ELECTRIC SERVICE TO APPROXIMATELY 3,954 METERS WITH 1,669 MILES OF LINE SERVICED, 27.66 MILES ADDED, AND 28.57 MILES REMOVED. 0 0 0 0 0 0 0 1 0 1 0 1 0 1 0 0 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 63 0 1 16 1 0 0 0 0 0 12576395 451335 0 0 0 X 9 9 0 0 0 0 1 1 1 1 0 0 0 1 1 1 1 1 1 1 1 0 X KRISTI JENSEN 5072475505 PO BOX 639 TYLER MN 561780639 X DALE FIER PRESIDENT 4.00 X X 7325 0 0 SCOTT JOHNSON VICE PRESIDENT 2.00 X X 4050 0 0 KATHLEEN SCHREURS SECRETARY & TREASURER 3.00 X X 7325 0 0 JARED DRITZ DIRECTOR 2.00 X 3950 0 0 GALEN GRANT DIRECTOR 5.00 X 5750 0 0 MARY GUNNINK DIRECTOR 3.00 X 5100 0 0 MIKE LONGTIN DIRECTOR 5.00 X 6275 0 0 JAMES A ROKEH DIRECTOR 7.00 X 9250 0 0 JOEL BUYCK DIRECTOR 2.00 X 5575 0 0 TIMOTHY O'LEARY GENERAL MANAGER 40.00 X 216162 0 141320 KRISTI JENSEN FINANCE MANAGER 40.00 X 131173 0 15006 LYLE LAMOTE LINE SUPERINTENDENT 40.00 X 121164 0 28525 WADE THOOFT OPERATIONS ASSISTANT 40.00 X 112545 0 75397 TRENT SKJEFTE JOURNEYMAN LINEMAN 40.00 X 102104 0 28481 SAM ROHDE JOURNEYMAN LINEMAN 40.00 X 105129 0 19167 BRIAN JEREMIASON MANAGER OF MARKETING & EXTERNAL RELATIONS 40.00 X 101928 0 57009 944805 0 364905 8 0 1 0 TE UNDERGROUND LLC 293 NORTH TYLER ST TYLER MN 56178 UNDERGROUND CABLE INSTALL 434995 1 SALE OF POWER 221000 12461493 12461493 CAPITAL CREDITS 221000 618343 618343 6500 6500 13086336 88660 88660 4235 3532 703 703 13175699 13086336 0 89363 X 3667 1107145 532859 1295921 257708 123371 768453 1255045 COST OF POWER 7090389 DISTRIBUTION-MAINTENANC 764234 DISTRIBUTIONS-OPERATION 474366 CUSTOMER ACCOUNTS 183673 -681132 13175699 2451719 1477538 1048760 1123694 36282 21797 915423 808968 222491 196517 45061762 13247957 29591952 31813805 80809 606091 9144867 9355874 498 498 4590 4590 43497391 45409372 1462811 1440436 23858503 25448370 703708 575775 26025022 27464581 X 19885 19915 0 0 17452484 17924876 17472369 17944791 43497391 45409372 X 0 472422 X X 0 0 0 0 0 87044 87044 1033914 735267 298647 43880886 12512690 31368196 59918 59918 31813805 CFC 67484 C EAST RIVER 8319235 C RESCO 187791 C NRUCFC 378771 C FEDERATED RURAL ELECTRIC INSURANCE 113367 C NRTC 146672 C COBANK 117345 C NAT'L INFORMATION SOLUTIONS COOP 25209 C 9355874 CUSTOMER DEPOSITS 22100 REGULATORY LIABILITIES 525000 PROVISION FOR PENSIONS & BENEFITS 28675 575775 PART IV, LINE 2B: THE COOPERATIVE HOLDS OPERATION ROUND-UP FUNDS AS A LIABILITY ON THE BALANCE SHEET UNTIL THE FUNDS ARE TRANSFERRED TO THE LYON-LINCOLN ELECTRIC TRUST, A RELATED ENTITY. THE BALANCE IN THE LIABILITY ACCOUNT AT YEAR-END WAS $0. OPERATION ROUND-UP IS A UNIQUE VOLUNTARY PROGRAM DESIGNED TO PROVIDE FINANCIAL ASSISTANCE TO WORTHWHILE PROJECTS AND CHARITIES IN OUR SURROUNDING COMMUNITIES. TO QUALIFY FOR FUNDING, PROJECTS MUST GENERALLY BE RELATED TO COMMUNITY SERVICE, ECONOMIC DEVELOPMENT, EDUCATION AND YOUTH, ENVIRONMENT, EMERGENCY ENERGY ASSISTANCE OR DISASTER RELIEF. APPLICANTS FOR SCHOLARSHIP FUNDING MUST BE PLANNING TO ATTEND AN ACCREDITED POST-SECONDARY EDUCATIONAL INSTITUTION IN PURSUIT OF THEIR INITIAL POST-SECONDARY DEGREE. THESE INSTITUTIONS COULD INCLUDE TECHNICAL COLLEGES, UNIVERSITIES, OR COLLEGES. OPERATION ROUND-UP WORKS LIKE THIS: THE COOPERATIVE WILL ROUND UP ELECTRIC BILLS OF PARTICIPATING MEMBERS TO THE NEXT DOLLAR. FOR EXAMPLE, IF YOUR BILL IS $41.70, IT WOULD BE "ROUNDED UP" TO $42. THE MAXIMUM CONTRIBUTION PER YEAR COULD BE $11.88, BUT GENERALLY WILL BE LESS THAN THAT, AVERAGING $6 PER YEAR PER METER. X X X 0 0 0 TIMOTHY O'LEARY GENERAL MANAGER 214790 0 256 0 1116 0 120989 0 24473 0 361624 0 0 0 WADE THOOFT OPERATIONS ASSISTANT 112045 0 271 0 229 0 54848 0 22770 0 190163 0 0 0 BRIAN JEREMIASON MANAGER OF MARKETING & EXTERNAL RELA 101164 0 271 0 493 0 35352 0 23754 0 161034 0 0 0 LYLE LAMOTE LINE SUPERINTENDENT 119809 0 271 0 1084 0 7804 0 23108 0 152076 0 0 0 SCHEDULE J, PART II, COLUMN C: INCLUDED IN THE AMOUNT REPORTED IN COLUMN C IS THE CHANGE IN ACTUARIAL VALUE OF THE DEFINED BENEFIT PLAN: - TIMOTHY O'LEARY $111,902 - WADE THOOFT $50,018 - LYLE LAMOTE N/A - BRIAN JEREMIASON $30,782 THE ACTUAL COOPERATIVE CONTRIBUTIONS TO THE DEFINED BENEFIT PLAN: - TIMOTHY O'LEARY $56,840 - WADE THOOFT $30,449 - LYLE LAMOTE N/A - BRIAN JEREMIASON $28,766 FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION HAS ONLY ONE CLASS OF MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS ELECT THE BOARD OF DIRECTORS, ALL MEMBERS ARE OF THE SAME CLASS AND EACH MEMBER HAS ONE VOTE. FORM 990, PART VI, SECTION A, LINE 7B CHANGES TO BYLAWS MUST BE APPROVED BY VOTE OF THE MEMBERS. FORM 990, PART VI, SECTION A, LINE 8B COMMITTEES DO NOT HAVE THE AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY; THEY ARE ONLY ALLOWED TO MAKE RECOMMENDATIONS TO THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED AT A BOARD MEETING PRIOR TO BEING FILED. FORM 990, PART VI, SECTION B, LINE 12C INDIVIDUALS ARE REQUIRED TO SIGN AN ACKNOWLEDGEMENT DISCLOSURE ANNUALLY. THE BOARD OF DIRECTORS IS COVERED BY THE POLICY. THE BOARD OF DIRECTORS AND THE BOARD COMMITTEE REVIEW WHETHER CONFLICTS EXIST. IF A CONFLICT EXISTS, THE INDIVIDUAL AFFECTED BY THE CONFLICT IS EXCLUDED FROM VOTING ON THE ISSUE SURROUNDING THE CONFLICT. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION IS DETERMINED BY A SALARY COMMITTEE WITH FINAL APPROVAL DETERMINED BY THE FULL BOARD OF DIRECTORS. COMPARABILITY DATA IS USED IN DETERMINING THE APPROPRIATE SALARY ADJUSTMENTS. THIS PROCESS IS DONE EVERY YEAR. ALL EMPLOYEE SALARIES ARE COMPARED TO NRECA'S NATIONAL SURVEY. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC 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 FOR THE GENERAL MANAGER. 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 IX, LINE 24E, STATEMENT OF FUNCTIONAL EXPENSES: ALLOCATED AND OTHER EXPENSE - 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. FORM 990, PART XI, LINE 9: ALLOCATION OF 2025 MARGINS IN 2026 1,107,145. CHANGES IN OTHER EQUITY 30. RETIREMENT OF CAPITAL CREDITS -747,610. TRANSFERS 112,857. FORM 990, PAGE 12, LINE 2: THE COOPERATIVE IS AUDITED ON A FISCAL YEAR BASIS. THE MOST RECENT AUDIT COMPLETED WAS FOR THE FISCAL YEAR ENDED AUGUST 31, 2025. LYON-LINCOLN ELECTRIC TRUST INC 205 WEST HIGHWAY 14 TYLER MN 561780639 411930173 DISTRIBUTING CONTRIBUTIONS FROM COOPERATIVE MEMBERS TO LOCAL ORGANIZATIONS MN 501(C)(3) LINE 7 LYON-LINCOLN ELECTRIC COOPERATIVE 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 1 0