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Nonprofiteer
← WESTERN IOWA POWER COOPERATIVE

Form 990 for tax year 2025

Filed by WESTERN IOWA POWER COOPERATIVE.

Totals

Total revenue
$15,868,197
Total expenses
$14,840,155
Contributions and grants received
$0
Grants paid
$7,698
Program service revenue
$15,221,020
Investment income
$32,378
Other revenue
$614,799
Total assets, end of year
$65,157,128
Total liabilities, end of year
$33,658,963
Net assets or fund balances, end of year
$31,498,165
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: ELECTRIC SALES

    total $15,221,020 · related or exempt $15,221,020

  • 3 · Investment income

    total $32,378 · excluded $32,378

  • 6a · Gross rents

    real property $6,540

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $6,540

  • 6d · Net rental income or loss

    total $6,540 · excluded $6,540

  • 10a · Gross sales of inventory

    $1,023,559

  • 10b · Cost of goods sold

    $1,012,615

  • 10c · Net income from sales of inventory

    total $10,944 · related or exempt $10,944

  • 11a · Other revenue: CAPITAL CREDITS

    total $582,400 · related or exempt $582,400

  • 11b · Other revenue: OTHER NONOPERATING

    total $14,915 · related or exempt $14,915

  • 11e · Other revenue, total

    $597,315

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $7,698

  • 4 · Benefits paid to or for members

    total $350,000

  • 5 · Compensation of officers, directors and key employees

    total $464,555

  • 20 · Interest

    total $1,102,358

  • 22 · Depreciation, depletion and amortization

    total $1,847,303

  • 24a · Other expenses: COST OF POWER

    total $7,634,866

  • 24b · Other expenses: DISTRIBUTION - MAINTENA

    total $1,050,887

  • 24c · Other expenses: ADMINISTRATIVE & GENERA

    total $999,437

  • 24d · Other expenses: DISTRIBUTION - OPERATIO

    total $833,146

  • 24e · All other expenses

    total $549,905

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $26,117 · end of year $66,750

  • 4 · Accounts receivable

    beginning of year $1,446,144 · end of year $1,263,672

  • 8 · Inventories for sale or use

    beginning of year $1,788,028 · end of year $1,259,947

  • 9 · Prepaid expenses and deferred charges

    beginning of year $143,715 · end of year $141,377

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

    $72,113,003

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

    $18,253,517

  • 10c · Land, buildings and equipment, net

    beginning of year $48,496,767 · end of year $53,859,486

  • 13 · Investments: program-related

    beginning of year $8,334,027 · end of year $8,518,508

  • 14 · Intangible assets

    beginning of year $40,766 · end of year $40,766

  • 15 · Other assets

    beginning of year $6,936 · end of year $6,622

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,386,800 · end of year $1,479,598

  • 19 · Deferred revenue

    beginning of year $676,664 · end of year $592,434

  • 23 · Secured mortgages and notes payable

    beginning of year $26,655,071 · end of year $31,349,535

  • 24 · Unsecured notes and loans payable

    beginning of year $1,000,000 · end of year $65,000

  • 25 · Other liabilities

    beginning of year $139,377 · end of year $172,396

  • 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 $30,424,588 · end of year $31,498,165

Mission and programs · 2025

Mission

WESTERN IOWA POWER COOPERATIVE'S MISSION IS TO ENHANCE OUR MEMBERS QUALITY OF LIFE BY PROVIDING SAFE AND RELIABLE ELECTRIC SERVICES.

Activities or mission (Part I)

TO PROVIDE ELECTRIC SERVICE TO MEMBERS.

  • PROVIDED ELECTRIC SERVICE TO APPROXIMATELY 3,376 MEMBER CONSUMERS OVER 2,079 MILES OF LINE.

As filed on the 2025 return.

Listed in Part VII

  • Janet Iverson

    CHAIRMAN UNTIL 08/2025

    Total calculated
    $6,240
    From this org
    $6,240
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.7

  • Peter Alexander

    SECRETARY UNTIL 08/2025

    Total calculated
    $4,650
    From this org
    $4,650
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.3

  • Craig Reisburg

    TREASURER

    Total calculated
    $8,525
    From this org
    $8,525
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.9

  • Ross Wood

    VICE CHAIR/SECRETARY

    Total calculated
    $4,675
    From this org
    $4,675
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Mike Blum

    TREASURER/VICE CHAIR

    Total calculated
    $11,825
    From this org
    $11,825
    From related orgs
    $0
    Other
    $0
    Hours/week
    7

  • Louis Reed

    DIRECTOR/CHAIRMAN

    Total calculated
    $7,150
    From this org
    $7,150
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Kenneth Smith

    ASST SECETARY/TREASURER

    Total calculated
    $8,525
    From this org
    $8,525
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.7

  • Bart Heisterkamp

    DIRECTOR

    Total calculated
    $4,675
    From this org
    $4,675
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.8

  • Brian Lundell

    DIRECTOR

    Total calculated
    $6,325
    From this org
    $6,325
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.2

  • Gary Volkert

    DIRECTOR

    Total calculated
    $4,400
    From this org
    $4,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.3

  • Amber Gray

    DIRECTOR AS OF 08/2025

    Total calculated
    $1,100
    From this org
    $1,100
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.8

  • Sharon Gries

    DIRECTOR AS OF 08/2025

    Total calculated
    $1,375
    From this org
    $1,375
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.6

  • Stephanie Wiese

    EVP/GENERAL MANAGER

    Total calculated
    $207,978
    From this org
    $163,336
    From related orgs
    $0
    Other
    $44,642
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $163,336
    Bonus
    $0
    Other
    $0
    Deferred
    $22,934
    Nontaxable benefits
    $23,324
    Filer's total
    $209,594

  • John Akers

    OPERATIONS MANAGER

    Total calculated
    $182,706
    From this org
    $153,556
    From related orgs
    $0
    Other
    $29,150
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $153,556
    Bonus
    $0
    Other
    $0
    Deferred
    $19,297
    Nontaxable benefits
    $11,406
    Filer's total
    $184,259

  • Christopher Merritt

    FOREMAN

    Total calculated
    $158,484
    From this org
    $122,028
    From related orgs
    $0
    Other
    $36,456
    Hours/week
    43

    Schedule J breakdown matched by us

    Base
    $122,028
    Bonus
    $0
    Other
    $0
    Deferred
    $18,410
    Nontaxable benefits
    $19,299
    Filer's total
    $159,737

  • Cameron Youll

    FOREMAN

    Total calculated
    $145,566
    From this org
    $121,753
    From related orgs
    $0
    Other
    $23,813
    Hours/week
    44

  • Wade Pitt

    FOREMAN

    Total calculated
    $169,925
    From this org
    $120,386
    From related orgs
    $0
    Other
    $49,539
    Hours/week
    44

    Schedule J breakdown matched by us

    Base
    $120,386
    Bonus
    $0
    Other
    $0
    Deferred
    $28,260
    Nontaxable benefits
    $22,061
    Filer's total
    $170,707

  • Ricky Lorenzen

    WAREHOUSE CLERK

    Total calculated
    $157,872
    From this org
    $114,628
    From related orgs
    $0
    Other
    $43,244
    Hours/week
    43

    Schedule J breakdown matched by us

    Base
    $114,628
    Bonus
    $0
    Other
    $0
    Deferred
    $25,470
    Nontaxable benefits
    $19,012
    Filer's total
    $159,110

  • Jeremy Lahr

    FOREMAN

    Total calculated
    $161,380
    From this org
    $114,063
    From related orgs
    $0
    Other
    $47,317
    Hours/week
    43

    Schedule J breakdown matched by us

    Base
    $114,063
    Bonus
    $0
    Other
    $0
    Deferred
    $25,608
    Nontaxable benefits
    $22,490
    Filer's total
    $162,161

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

The filer's explanations (Part III)

FORM 990, SCHEDULE J, PART II
AS REQUIRED PER THE INSTRUCTIONS OF FORM 990 AND SCHEDULE J, THE AMOUNT REPORTED IN SCHEDULE J COLUMN C IS THE CHANGE IN ACTUARIAL VALUE IN THE DEFINED BENEFIT PLAN RATHER THAN THE EXPENSE ON THE BOOKS OF THE COOPERATIVE. THE CHANGES IN ACTUARIAL VALUE IN THE DEFINED BENEFIT PLAN ARE AS FOLLOWS: STEPHANIE WIESE $19,486 JOHN AKERS $16,235 WADE PITT $26,097 JEREMY LAHR $23,446 CHRISTOPHER MERRITT $16,247 RICKY LORENZEN $23,420 THE ACTUAL EXPENSES FOR THE DEFINED BENEFIT PLAN ARE AS FOLLOWS: STEPHANIE WIESE $18,833 JOHN AKERS $18,126 WADE PITT $22,451 JEREMY LAHR $22,451 CHRISTOPHER MERRITT $22,451 RICKY LORENZEN $12,130

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.

  • MIDLAND DEVELOPMENT CORP

    C · ECONOMIC DEVELOPMENT · IA · 100% owned · share of income $183,609 · share of assets $1,150,960 · controlled entity

    Directly controlled by WESTERN IOWA POWER COOPERATIVE

  • MONREC

    C · ECONOMIC DEVELOPMENT · IA · 100% owned · controlled entity

    Directly controlled by WESTERN IOWA POWER COOPERATIVE

Provenance

Return type
form_990
Tax year
2025
Filed
15 September 2026
IRS schema version
2025v4.2
Source object
202612589349302001

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