Form 990 for tax year 2025

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: SALE OF POWER

  total $71,264,624 · related or exempt $71,264,624

• 3 · Investment income

  total $226,390 · excluded $226,390

• 7a · Gross sales of assets other than inventory

  other assets $900,810

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

  other assets $891,711

• 7c · Gain or loss

  other assets $9,099

• 7d · Net gain or loss

  total $9,099 · excluded $9,099

• 10a · Gross sales of inventory

  $195,654

• 10b · Cost of goods sold

  $0

• 10c · Net income from sales of inventory

  total $195,654 · related or exempt $195,654

• 11a · Other revenue: CAPITAL CREDITS

  total $3,423,800 · related or exempt $3,423,800

• 11b · Other revenue: MISCELLANEOUS

  total $74,101 · related or exempt $74,101

• 11e · Other revenue, total

  $3,497,901

Functional expenses

Part IX, the statement of functional expenses.

• 4 · Benefits paid to or for members

  total $4,000,000

• 5 · Compensation of officers, directors and key employees

  total $754,014

• 20 · Interest

  total $5,500,147

• 22 · Depreciation, depletion and amortization

  total $6,112,156

• 24a · Other expenses: COST OF POWER

  total $38,545,985

• 24b · Other expenses: DIST EXP-OPERATIONS

  total $6,024,718

• 24c · Other expenses: DIST EXP-MAINTENANCE

  total $3,110,900

• 24d · Other expenses: ADMIN & GENERAL EXPENSE

  total $2,846,373

• 24e · All other expenses

  total $3,704,939

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $9,859 · end of year $9,859

• 2 · Savings and temporary cash investments

  beginning of year $1,668,813 · end of year $1,403,457

• 4 · Accounts receivable

  beginning of year $6,640,557 · end of year $7,628,482

• 8 · Inventories for sale or use

  beginning of year $12,024,013 · end of year $12,414,237

• 9 · Prepaid expenses and deferred charges

  beginning of year $135,672 · end of year $256,722

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

  $233,422,293

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

  $60,135,888

• 10c · Land, buildings and equipment, net

  beginning of year $162,805,659 · end of year $173,286,405

• 12 · Investments: other securities

  beginning of year $1,813,634 · end of year $1,561,277

• 13 · Investments: program-related

  beginning of year $37,467,978 · end of year $38,188,198

• 15 · Other assets

  beginning of year $303,834 · end of year $305,612

• 17 · Accounts payable and accrued expenses

  beginning of year $4,943,290 · end of year $5,345,157

• 19 · Deferred revenue

  beginning of year $1,537,470 · end of year $1,443,597

• 23 · Secured mortgages and notes payable

  beginning of year $118,234,029 · end of year $121,827,475

• 25 · Other liabilities

  beginning of year $504,389 · end of year $619,255

• 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 $97,650,841 · end of year $105,818,765

The filer's explanations (Part III)

PART I, LINE 3

THE BOARD APPROVES THE CEO'S COMPENSATION BASED ON AN INDEPENDENT COMPENSATION REVIEW, A WRITTEN EMPLOYMENT CONTRACT, AND COMPENSATION SURVEY DATA.

Related corporations and trusts

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

• CORRIDOR DEVELOPMENT

  C · ECONOMIC DEVELOPMENT · IA · 100% owned · share of income $121,813 · share of assets $2,149,342 · controlled entity

  Directly controlled by LINN COUNTY REC

• MYRIAD DEVELOPERS LC

  C · RENTAL REAL ESTATE · IA · 100% owned · share of income $321,321 · share of assets $1,316,326

  Directly controlled by CORRIDOR DEVELOPMENT INC