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← IOWA ASSOCIATION OF ELECTRIC COOPERATIVES

Form 990 for tax year 2023

Filed by IOWA ASSOCIATION OF ELECTRIC COOPERATIVES.

Totals

Total revenue
$6,117,032
Total expenses
$6,086,613
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$5,994,516
Investment income
$105,566
Other revenue
$16,950
Total assets, end of year
$3,441,995
Total liabilities, end of year
$839,382
Net assets or fund balances, end of year
$2,602,613
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
not reported

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 2a · Program service revenue: MEMBERSHIP DUES AND ASSESSMENTS

    total $2,877,567 · excluded $2,877,567

  • 2b · Program service revenue: SAFETY & LOSS CONTROL

    total $1,381,505 · excluded $1,381,505

  • 2c · Program service revenue: EDUCATION & TRAINING

    total $901,890 · excluded $901,890

  • 2d · Program service revenue: COMMUNICATIONS

    total $788,929 · unrelated business $7,000 · excluded $781,929

  • 2e · Program service revenue: REGULATORY

    total $35,625 · excluded $35,625

  • 2f · All other program service revenue

    total $9,000 · excluded $9,000

  • 3 · Investment income

    total $55,872 · excluded $55,872

  • 6a · Gross rents

    real property $16,950

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $16,950

  • 6d · Net rental income or loss

    total $16,950 · related or exempt $16,950

  • 7a · Gross sales of assets other than inventory

    securities $317,888 · other assets $48,187

  • 7b · Less cost or other basis and sales expenses

    securities $303,152 · other assets $13,229

  • 7c · Gain or loss

    securities $14,736 · other assets $34,958

  • 7d · Net gain or loss

    total $49,694 · excluded $49,694

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $562,899

  • 7 · Other salaries and wages

    total $1,399,622

  • 8 · Pension plan contributions

    total $412,760

  • 9 · Other employee benefits

    total $166,766

  • 10 · Payroll taxes

    total $146,022

  • 11b · Fees: legal

    total $23,356

  • 11c · Fees: accounting

    total $176,188

  • 11d · Fees: lobbying

    total $70,611

  • 13 · Office expenses

    total $159,252

  • 17 · Travel

    total $57,647

  • 19 · Conferences, conventions and meetings

    total $17,192

  • 22 · Depreciation, depletion and amortization

    total $135,872

  • 23 · Insurance

    total $39,742

  • 24a · Other expenses: EDUCATION

    total $937,143

  • 24b · Other expenses: COMMUNICATIONS

    total $835,168

  • 24c · Other expenses: SAFETY

    total $551,326

  • 24d · Other expenses: GOVERNMENT RELATIONS

    total $209,457

  • 24e · All other expenses

    total $185,590

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $749,337 · end of year $457,585

  • 2 · Savings and temporary cash investments

    beginning of year $1,065,025 · end of year $913,326

  • 4 · Accounts receivable

    beginning of year $124,206 · end of year $358,836

  • 9 · Prepaid expenses and deferred charges

    beginning of year $236,234 · end of year $234,367

  • 10a · Land, buildings and equipment: cost or other basis

    $1,892,905

  • 10b · Land, buildings and equipment: accumulated depreciation

    $1,231,009

  • 10c · Land, buildings and equipment, net

    beginning of year $549,351 · end of year $661,896

  • 11 · Investments: publicly traded securities

    beginning of year $460,108 · end of year $530,493

  • 12 · Investments: other securities

    beginning of year $190,346 · end of year $190,894

  • 15 · Other assets

    beginning of year $122,098 · end of year $94,598

  • 17 · Accounts payable and accrued expenses

    beginning of year $604,476 · end of year $642,866

  • 19 · Deferred revenue

    beginning of year $92,567 · end of year $99,092

  • 25 · Other liabilities

    beginning of year $122,108 · end of year $97,424

  • 27 · Net assets without donor restrictions

    beginning of year $2,263,687 · end of year $2,572,196

Mission and programs · 2023

Mission

PROVIDE SERVICES TO RURAL ELECTRIC COOPERATIVES.

Activities or mission (Part I)

TO PROVIDE SERVICES TO RURAL ELECTRIC COOPERATIVES.

  • EDUCATION & TRAINING - PROVIDED EDUCATIONAL OPPORTUNITIES FOR EMPLOYEES AND DIRECTORS OF MEMBER COOPERATIVES IN TECHNICAL AND MANAGEMENT SUBJECTS RELATED TO THEIR EMPLOYMENT. NUMEROUS PROGRAMS WERE HELD DURING THE YEAR.

  • SAFETY PROGRAMS - PROVIDED EDUCATION AND TRAINING IN AREAS RELATED TO ELECTRIC & OSHA SAFETY. SEVERAL STAFF MEMBERS WERE DEVOTED EXCLUSIVELY TO THIS FUNCTION.

  • GOVERNMENT RELATIONS - PROVIDE INFORMATION TO LEGISLATIVE AND ADMINISTRATIVE PARTIES IN FEDERAL AND STATE GOVERNMENT ON RURAL ELECTRIC ISSUES.

  • COMMUNICATIONS - PROMOTED PUBLIC AWARENESS OF RURAL ELECTRIC COOPERATIVES AND THEIR PURPOSE AND ACTIVITIES PARTICULARLY WHAT MEMBER-CONSUMER-OWNERS CAN DO TO USE ENERGY MORE EFFICIENTLY. APPROXIMATELY 58,000 COPIES OF "IOWA ELECTRIC COOPERATIVE LIVING" MAGAZINES ARE CIRCULATED MONTHLY.

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Marion Denger

    NRECA DIRECTOR

    Total calculated
    $7,150
    From this org
    $7,150
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Kevin Wheeler

    MANAGER'S REPRESENTATIVE

    Total calculated
    $0
    Hours/week
    2

  • Roger Solomonson

    PRESIDENT

    Total calculated
    $17,188
    From this org
    $17,188
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Gordon Greimann

    VICE PRESIDENT

    Total calculated
    $11,537
    From this org
    $11,537
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Kenneth Vandenberg

    SECRETARY/TREASURER

    Total calculated
    $13,310
    From this org
    $13,310
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Deena Moore

    ASSISTANT SECRETARY/TREASURER

    Total calculated
    $8,287
    From this org
    $8,287
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Bruce Amundson

    DIRECTOR

    Total calculated
    $10,150
    From this org
    $10,150
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Jim Miller

    DIRECTOR

    Total calculated
    $11,125
    From this org
    $11,125
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Tony Lem

    DIRECTOR

    Total calculated
    $10,937
    From this org
    $10,937
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Charles Soderberg

    PAST EXECUTIVE V.P./GENERAL MANAGER

    Total calculated
    $419,267
    From this org
    $326,640
    From related orgs
    $0
    Other
    $92,627
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $326,640
    Bonus
    $0
    Other
    $0
    Deferred
    $84,097
    Nontaxable benefits
    $8,530
    Filer's total
    $419,267

  • Leslie Kaufman

    EXECUTIVE V.P/GENERAL MANAGER

    Total calculated
    $0
    Hours/week
    40

  • Kevin Condon

    DIRECTOR - GOVT RELATIONS

    Total calculated
    $230,496
    From this org
    $160,032
    From related orgs
    $0
    Other
    $70,464
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $160,032
    Bonus
    $0
    Other
    $0
    Deferred
    $43,688
    Nontaxable benefits
    $26,776
    Filer's total
    $230,496

  • Tim Falk

    DIRECTOR - BENEFITS

    Total calculated
    $231,461
    From this org
    $170,405
    From related orgs
    $0
    Other
    $61,056
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $170,405
    Bonus
    $0
    Other
    $0
    Deferred
    $44,752
    Nontaxable benefits
    $16,304
    Filer's total
    $231,461

  • Scott Meineke

    DIRECTOR - SAFETY

    Total calculated
    $199,706
    From this org
    $146,354
    From related orgs
    $0
    Other
    $53,352
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $146,354
    Bonus
    $0
    Other
    $0
    Deferred
    $37,867
    Nontaxable benefits
    $15,485
    Filer's total
    $199,706

  • Ethan Hohenadel

    DIRECTOR - REGULATORY AFFAIRS

    Total calculated
    $223,466
    From this org
    $170,943
    From related orgs
    $0
    Other
    $52,523
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $170,943
    Bonus
    $0
    Other
    $0
    Deferred
    $43,517
    Nontaxable benefits
    $9,006
    Filer's total
    $223,466

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • HAWKEYE INSURANCE ASSOCIATION

    C · BENEFITS ADMIN · IA

Provenance

Return type
form_990
Tax year
2023
Filed
24 June 2025
IRS schema version
2023v6.0
Source object
202541779349300614

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