Skip to content
Nonprofiteer
← BUTLER COUNTY RURAL ELECTRIC COOPERATIVE

Form 990 for tax year 2024

Filed by BUTLER COUNTY RURAL ELECTRIC COOPERATIVE.

Totals

Total revenue
$34,759,137
Total expenses
$32,956,300
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$31,587,815
Investment income
$743,248
Other revenue
$2,428,074
Total assets, end of year
$92,050,137
Total liabilities, end of year
$51,040,083
Net assets or fund balances, end of year
$41,010,054
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 $31,587,815 · related or exempt $31,587,815

  • 3 · Investment income

    total $692,248 · unrelated business -$324 · excluded $692,572

  • 7a · Gross sales of assets other than inventory

    other assets $51,000

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

    other assets $0

  • 7c · Gain or loss

    other assets $51,000

  • 7d · Net gain or loss

    total $51,000 · excluded $51,000

  • 10a · Gross sales of inventory

    $93,877

  • 10b · Cost of goods sold

    $204,868

  • 10c · Net income from sales of inventory

    total -$110,991 · related or exempt -$28,474 · unrelated business -$82,517

  • 11a · Other revenue: CAPITAL CREDITS

    total $2,539,065 · related or exempt $2,539,065

  • 11e · Other revenue, total

    $2,539,065

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $2,090,324

  • 5 · Compensation of officers, directors and key employees

    total $562,219

  • 20 · Interest

    total $1,175,379

  • 22 · Depreciation, depletion and amortization

    total $2,081,345

  • 24a · Other expenses: COST OF POWER

    total $22,431,619

  • 24b · Other expenses: ADMIN & GENERAL EXP

    total $1,390,227

  • 24c · Other expenses: DIST EXP - OPERATIONS

    total $1,100,537

  • 24d · Other expenses: DIST EXPENSE - MAINT

    total $1,059,732

  • 24e · All other expenses

    total $1,064,918

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $573,262 · end of year $1,100

  • 2 · Savings and temporary cash investments

    beginning of year $2,809,322 · end of year $3,118,472

  • 4 · Accounts receivable

    beginning of year $3,819,472 · end of year $3,103,695

  • 8 · Inventories for sale or use

    beginning of year $1,700,026 · end of year $1,562,749

  • 9 · Prepaid expenses and deferred charges

    beginning of year $163,083 · end of year $297,655

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

    $62,813,156

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

    $19,360,546

  • 10c · Land, buildings and equipment, net

    beginning of year $42,577,815 · end of year $43,452,610

  • 12 · Investments: other securities

    beginning of year -$39,867 · end of year -$42,703

  • 13 · Investments: program-related

    beginning of year $35,715,870 · end of year $40,556,559

  • 15 · Other assets

    beginning of year $800,000 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,189,136 · end of year $2,720,152

  • 19 · Deferred revenue

    beginning of year $2,135,380 · end of year $232,988

  • 23 · Secured mortgages and notes payable

    beginning of year $43,641,951 · end of year $47,371,734

  • 24 · Unsecured notes and loans payable

    beginning of year $5,000 · end of year $5,000

  • 25 · Other liabilities

    beginning of year $625,739 · end of year $710,209

  • 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 $38,521,777 · end of year $41,010,054

Mission and programs · 2024

Mission

PROVIDING ELECTRICAL SERVICE TO THE MEMBERS OF THE COOPERATIVE.

  • DISTRIBUTE ELECTRICITY TO APPROXIMATELY 5000 MEMBERS IN NORTHEAST IOWA.

As filed on the 2024 return.

Listed in Part VII

  • Duane Rieckenberg

    PRESIDENT - PART YEAR

    Total calculated
    $1,315
    From this org
    $1,315
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.33

  • Gary Poppe

    PRESIDENT

    Total calculated
    $8,740
    From this org
    $8,740
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.73

  • Share Brandt

    VICE-PRESIDENT

    Total calculated
    $12,245
    From this org
    $12,245
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.18

  • Tim Schrage

    SECRETARY

    Total calculated
    $7,595
    From this org
    $7,595
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.89

  • Allyn Harms

    ASSISTANT SECRETARY-TREASURER

    Total calculated
    $8,215
    From this org
    $8,215
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.71

  • Troy Feldman

    TREASURER

    Total calculated
    $8,060
    From this org
    $8,060
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.46

  • Gerald Schmitt

    DIRECTOR

    Total calculated
    $9,145
    From this org
    $9,145
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.3

  • Steve Boevers

    DIRECTOR

    Total calculated
    $5,270
    From this org
    $5,270
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.33

  • Grant Greenzweig

    DIRECTOR

    Total calculated
    $7,905
    From this org
    $7,905
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.44

  • Ken Kappmeyer

    DIRECTOR

    Total calculated
    $8,215
    From this org
    $8,215
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.13

  • Craig Codner

    CEO

    Total calculated
    $304,710
    From this org
    $203,641
    From related orgs
    $0
    Other
    $101,069
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $203,641
    Bonus
    $0
    Other
    $0
    Deferred
    $66,029
    Nontaxable benefits
    $35,040
    Filer's total
    $304,710

  • Jane Bradley

    RECORDING SECRETARY

    Total calculated
    $180,804
    From this org
    $100,366
    From related orgs
    $0
    Other
    $80,438
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $100,366
    Bonus
    $0
    Other
    $0
    Deferred
    $64,441
    Nontaxable benefits
    $15,997
    Filer's total
    $180,804

  • Sandra Miller

    HR/OFFICE MANAGER

    Total calculated
    $214,865
    From this org
    $123,444
    From related orgs
    $0
    Other
    $91,421
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $123,444
    Bonus
    $0
    Other
    $0
    Deferred
    $74,206
    Nontaxable benefits
    $17,215
    Filer's total
    $214,865

  • John Endelman

    OPERATIONS MANAGER

    Total calculated
    $179,503
    From this org
    $116,113
    From related orgs
    $0
    Other
    $63,390
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $116,113
    Bonus
    $0
    Other
    $0
    Deferred
    $36,602
    Nontaxable benefits
    $26,788
    Filer's total
    $179,503

  • Lori Beach

    FINANCIAL ACCOUNTANT

    Total calculated
    $159,676
    From this org
    $120,171
    From related orgs
    $0
    Other
    $39,505
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $120,171
    Bonus
    $0
    Other
    $0
    Deferred
    $25,654
    Nontaxable benefits
    $13,851
    Filer's total
    $159,676

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 · 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.

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.

  • FIVE RIVERS DEVELOPMENT CORP

    C · ECONOMIC DEVELOPMENT · IA · 100% owned · share of assets $5,000 · controlled entity

    Directly controlled by BUTLER COUNTY REC

Provenance

Return type
form_990
Tax year
2024
Filed
24 April 2025
IRS schema version
2024v5.1
Source object
202541199349301604

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.