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Nonprofiteer
← EAST-CENTRAL IOWA RURAL ELECTRIC COOPERATIVE

Form 990 for tax year 2025

Filed by EAST-CENTRAL IOWA RURAL ELECTRIC COOPERATIVE.

Totals

Total revenue
$28,471,810
Total expenses
$26,880,022
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$26,973,559
Investment income
$225,572
Other revenue
$1,272,679
Total assets, end of year
$96,263,125
Total liabilities, end of year
$49,517,812
Net assets or fund balances, end of year
$46,745,313
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: ELECTRICITY SALES

    total $26,973,559 · related or exempt $26,973,559

  • 3 · Investment income

    total $159,047 · excluded $159,047

  • 7a · Gross sales of assets other than inventory

    other assets $82,725

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

    other assets $16,200

  • 7c · Gain or loss

    other assets $66,525

  • 7d · Net gain or loss

    total $66,525 · excluded $66,525

  • 10a · Gross sales of inventory

    $10,274

  • 10b · Cost of goods sold

    $23,494

  • 10c · Net income from sales of inventory

    total -$13,220 · related or exempt -$13,220

  • 11a · Other revenue: CAPITAL CREDITS

    total $1,286,311 · related or exempt $1,286,311

  • 11b · Other revenue: SCHEDULE K-1 INCOME/LOSS

    total -$412 · unrelated business -$412

  • 11e · Other revenue, total

    $1,285,899

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $1,275,864

  • 5 · Compensation of officers, directors and key employees

    total $308,107

  • 7 · Other salaries and wages

    total $519,367

  • 10 · Payroll taxes

    total $63,185

  • 11c · Fees: accounting

    total $23,160

  • 13 · Office expenses

    total $857,529

  • 20 · Interest

    total $1,922,943

  • 22 · Depreciation, depletion and amortization

    total $2,920,981

  • 24a · Other expenses: COST OF POWER

    total $14,421,488

  • 24b · Other expenses: DISTRIBUTION OPERATIONS

    total $2,648,025

  • 24c · Other expenses: CONSUMER ACCOUNTS

    total $1,055,884

  • 24d · Other expenses: DISTRIBUTION MAINTENANC

    total $848,264

  • 24e · All other expenses

    total $15,225

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $762,051 · end of year $266,974

  • 2 · Savings and temporary cash investments

    beginning of year $1,170,216 · end of year $2,985,212

  • 4 · Accounts receivable

    beginning of year $3,286,143 · end of year $3,878,790

  • 8 · Inventories for sale or use

    beginning of year $1,961,707 · end of year $2,363,471

  • 9 · Prepaid expenses and deferred charges

    beginning of year $195,646 · end of year $193,228

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

    $101,224,899

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

    $24,526,860

  • 10c · Land, buildings and equipment, net

    beginning of year $74,701,429 · end of year $76,698,039

  • 12 · Investments: other securities

    beginning of year $8,594,036 · end of year $8,731,761

  • 14 · Intangible assets

    beginning of year $18,180 · end of year $18,181

  • 15 · Other assets

    beginning of year $1,004,721 · end of year $1,127,469

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,640,024 · end of year $2,887,614

  • 23 · Secured mortgages and notes payable

    beginning of year $43,702,393 · end of year $45,838,570

  • 25 · Other liabilities

    beginning of year $802,282 · end of year $791,628

  • 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 $44,549,430 · end of year $46,745,313

Mission and programs · 2025

Mission

EAST-CENTRAL IOWA RURAL ELECTRIC COOPERATIVE PROVIDES ELECTRIC ENERGY SERVICE TO APPROXIMATELY 7,329 MEMBERS TO PARTS OF 11 COUNTIES IN EAST-CENTRAL IOWA. ITS PRIMARY MISSION IS TO PROVIDE THE BEST POSSIBLE SERVICE TO ITS MEMBERS FOR THE LOWEST POSSIBLE COST.

Activities or mission (Part I)

EAST CENTRAL IOWA RURAL ELECTRIC COOPERATIVE PROVIDES ELECTRIC ENERGY SERVICE TO APPROXIMATELY 7,329 MEMBERS TO PARTS OF 11 COUNTIES IN EAST-CENTRAL IOWA. IT'S PRIMARY MISSION IS TO PROVIDE THE BEST POSSIBLE ELECTRICAL SERVICE TO ITS MEMBERS AT THE LOWEST POSSIBLE COST.

  • PROVISION OF ELECTRICITY AND ELECTRIC SERVICES TO THE COOPERATIVE'S 7,329 MEMBERS. THIS REPRESENTS 99% OF THE TOTAL REVENUE FOR THE COOPERATIVE FOR 2025.

As filed on the 2025 return.

Listed in Part VII

  • Steve Rau

    PRESIDENT

    Total calculated
    $10,960
    From this org
    $10,960
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.92

  • Jeff Elliott

    VICE PRESIDENT

    Total calculated
    $9,575
    From this org
    $9,575
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.9

  • Julie Kester

    SECRETARY/TREASURER

    Total calculated
    $10,000
    From this org
    $10,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.46

  • Pete Burmeister

    ASSISTANT SECRETARY/TREASURER

    Total calculated
    $8,845
    From this org
    $8,845
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.19

  • Gary McKenna

    DIRECTOR

    Total calculated
    $8,070
    From this org
    $8,070
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.13

  • Brian McNulty

    DIRECTOR

    Total calculated
    $5,760
    From this org
    $5,760
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.54

  • Nick Donlea

    DIRECTOR

    Total calculated
    $4,985
    From this org
    $4,985
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.23

  • Gary Cook

    DIRECTOR

    Total calculated
    $6,520
    From this org
    $6,520
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.62

  • Teresa Floyd

    CEO

    Total calculated
    $243,392
    From this org
    $195,406
    From related orgs
    $0
    Other
    $47,986
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $195,406
    Bonus
    $0
    Other
    $0
    Deferred
    $38,775
    Nontaxable benefits
    $9,211
    Filer's total
    $243,392

  • Adam R Albertsen

    MEMBER SERVICE MANGER

    Total calculated
    $152,576
    From this org
    $112,839
    From related orgs
    $0
    Other
    $39,737
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $112,839
    Bonus
    $0
    Other
    $0
    Deferred
    $23,476
    Nontaxable benefits
    $16,261
    Filer's total
    $152,576

  • Thomas G Schmitt

    OPERATIONS MANAGER

    Total calculated
    $167,231
    From this org
    $132,620
    From related orgs
    $0
    Other
    $34,611
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $132,620
    Bonus
    $0
    Other
    $0
    Deferred
    $26,495
    Nontaxable benefits
    $8,116
    Filer's total
    $167,231

  • Jared J Grover

    LINEWORKER

    Total calculated
    $144,414
    From this org
    $113,187
    From related orgs
    $0
    Other
    $31,227
    Hours/week
    40

  • Braxton P Clubb

    LINEWORKER

    Total calculated
    $144,484
    From this org
    $113,315
    From related orgs
    $0
    Other
    $31,169
    Hours/week
    40

  • Lisa M Franck

    MANAGER OF COMMUNICATIONS

    Total calculated
    $167,018
    From this org
    $131,663
    From related orgs
    $0
    Other
    $35,355
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $131,663
    Bonus
    $0
    Other
    $0
    Deferred
    $27,061
    Nontaxable benefits
    $8,294
    Filer's total
    $167,018

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 committee
  • 3 · Independent compensation consultant
  • 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.

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.

  • BECCA GROUP INC

    C · ECONOMIC DEVELOPMENT · IA · 100% owned · share of income $3,692 · share of assets $202,024

    Directly controlled by EAST-CENTRAL IOWA RURAL ELECTRIC COOPERATIVE

Provenance

Return type
form_990
Tax year
2025
Filed
28 April 2026
IRS schema version
2025v4.1
Source object
202611199349302026

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