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Nonprofiteer
← LYON RURAL ELECTRIC COOPERATIVE

Form 990 for tax year 2022

Filed by LYON RURAL ELECTRIC COOPERATIVE.

Totals

Total revenue
$13,182,606
Total expenses
$13,182,536
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$12,152,949
Investment income
$36,244
Other revenue
$993,413
Total assets, end of year
$28,323,833
Total liabilities, end of year
$15,562,641
Net assets or fund balances, end of year
$12,761,192
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: SALE OF POWER

    total $12,152,949 · related or exempt $12,152,949

  • 3 · Investment income

    total $36,244 · excluded $36,244

  • 6a · Gross rents

    real property $2,138

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $2,138

  • 6d · Net rental income or loss

    total $2,138 · excluded $2,138

  • 10a · Gross sales of inventory

    $195,145

  • 10b · Cost of goods sold

    $161,982

  • 10c · Net income from sales of inventory

    total $33,163 · unrelated business $968 · excluded $32,195

  • 11a · Other revenue: CAPITAL CREDITS

    total $958,112 · related or exempt $958,112

  • 11e · Other revenue, total

    $958,112

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $1,268,180

  • 5 · Compensation of officers, directors and key employees

    total $343,069

  • 20 · Interest

    total $638,008

  • 22 · Depreciation, depletion and amortization

    total $990,327

  • 24a · Other expenses: COST OF POWER

    total $8,194,258

  • 24b · Other expenses: ADMIN & GENERAL EXP

    total $527,417

  • 24c · Other expenses: DIST EXP - MAINTENANCE

    total $430,045

  • 24d · Other expenses: DIST EXP - OPERATIONS

    total $365,417

  • 24e · All other expenses

    total $425,815

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    end of year $225

  • 2 · Savings and temporary cash investments

    beginning of year $441,395 · end of year $561,420

  • 4 · Accounts receivable

    beginning of year $1,072,349 · end of year $1,333,509

  • 8 · Inventories for sale or use

    beginning of year $624,512 · end of year $913,717

  • 9 · Prepaid expenses and deferred charges

    beginning of year $101,469 · end of year $117,399

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

    $33,404,479

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

    $15,505,289

  • 10c · Land, buildings and equipment, net

    beginning of year $17,588,073 · end of year $17,899,190

  • 13 · Investments: program-related

    beginning of year $6,668,076 · end of year $7,483,954

  • 14 · Intangible assets

    beginning of year $7,180 · end of year $7,180

  • 15 · Other assets

    beginning of year $4,660 · end of year $7,239

  • 17 · Accounts payable and accrued expenses

    beginning of year $730,961 · end of year $1,192,140

  • 19 · Deferred revenue

    beginning of year $121,382 · end of year $69,584

  • 23 · Secured mortgages and notes payable

    beginning of year $13,819,365 · end of year $14,181,977

  • 25 · Other liabilities

    beginning of year $69,421 · end of year $118,940

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $11,766,585 · end of year $12,761,192

Mission and programs · 2022

Mission

THE PRIMARY OBJECTIVE OF LYON RURAL ELECTRIC COOPERATIVE IS TO PROVIDE THE HIGHEST QUALITY SERVICES POSSIBLE TO OUR MEMBER-CONSUMER AT THE LOWEST COST CONSISTENT WITH SOUND BUSINESS PRACTICES. SERVICES PROVIDED TO OUR MEMBER-CONSUMERS WILL BE EVALUATED AT AN ONGOING BASIS TO MEET THE CHANGING NEEDS OF OUR MEMBERSHIP WHILE BENEFITING THE LONG-RANGE OBJECTIVES OF THE COOPERATIVE.

Activities or mission (Part I)

RURAL UTILITY SERVICE

  • PROVIDING RELIABLE AND AFFORDABLE ELECTRICAL SERVICE TO OUR MEMBER-CONSUMERS. THROUGH OUR LONG TERM PLANNING AND REINVESTMENT IN THE ELECTRICAL PLANT OUR MEMBERS ENJOYED A 99.97 % OF CONTINUOUS SERVICE IN 2022. LYON RURAL ELECTRIC COOPERATIVE RESIDENTIAL MEMBERS ENJOYED A RATE THAT RANKED IN THE LOWEST 10% PER KWH OF COOPERATIVES IN THE NATION, SMALL COMMERCIAL MEMBERS ENJOYED A RATE THAT RANKED IN THE LOWEST 10% PER KWH OF COOPERATIVES IN THE NATION AND LARGE COMMERCIAL MEMBERS ENJOYED A RATE THAT RANKED IN THE LOWEST 50% PER KWH OF COOPERATIVES IN THE NATION IN 2022, THE LATEST REPORTING PERIOD WITH COMPARABLE DATA.

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Randy Roemen

    PRESIDENT

    Total calculated
    $7,805
    From this org
    $7,800
    From related orgs
    $0
    Other
    $5
    Hours/week
    0.67

  • David Huff

    VICE PRESIDENT

    Total calculated
    $5,605
    From this org
    $5,600
    From related orgs
    $0
    Other
    $5
    Hours/week
    0.57

  • Rodney Mogler

    TREASURER

    Total calculated
    $4,605
    From this org
    $4,600
    From related orgs
    $0
    Other
    $5
    Hours/week
    0.26

  • David De Boer

    SECRETARY

    Total calculated
    $7,855
    From this org
    $7,850
    From related orgs
    $0
    Other
    $5
    Hours/week
    1.5

  • David Griesse

    DIRECTOR

    Total calculated
    $7,605
    From this org
    $7,600
    From related orgs
    $0
    Other
    $5
    Hours/week
    1.07

  • Nolan Kooiker

    DIRECTOR

    Total calculated
    $5,855
    From this org
    $5,850
    From related orgs
    $0
    Other
    $5
    Hours/week
    0.71

  • Damon Pedersen

    DIRECTOR

    Total calculated
    $6,355
    From this org
    $6,350
    From related orgs
    $0
    Other
    $5
    Hours/week
    0.54

  • Allen Poppens

    DIRECTOR

    Total calculated
    $3,650
    From this org
    $3,650
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.28

  • Jesse Roemen

    DIRECTOR

    Total calculated
    $5,655
    From this org
    $5,650
    From related orgs
    $0
    Other
    $5
    Hours/week
    0.6

  • Randy McKenney

    DIRECTOR - PART YEAR

    Total calculated
    $3,555
    From this org
    $3,550
    From related orgs
    $0
    Other
    $5
    Hours/week
    1.94

  • Ross Loomans

    GENERAL MANAGER

    Total calculated
    $284,524
    From this org
    $147,440
    From related orgs
    $0
    Other
    $137,084
    Hours/week
    43.48

    Schedule J breakdown matched by us

    Base
    $147,440
    Bonus
    $0
    Other
    $0
    Deferred
    $33,223
    Nontaxable benefits
    $103,861
    Filer's total
    $284,524

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

  • 1a · First-class or charter travel
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement

The filer's explanations (Part III)

PART I, LINE 1A
FIRST CLASS TRAVEL PROVIDED TO ROSS LOOMANS AND DONNA LOOMANS. COST OF FLIGHT WAS $1,180, WHICH WAS COMPARABLE TO ANOTHER EMPLOYEE PLANE FARE. THE AMOUNT OVER THIS FARE WAS REIMBURSED TO LYON RURAL ELECTRIC COOPERATIVE BY ROSS LOOMANS FOR THE CFC SUMMIT.

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.

Provenance

Return type
form_990
Tax year
2022
Filed
26 September 2023
IRS schema version
2022v5.0
Source object
202302979349302070

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