Form 990 for tax year 2025

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: SALE OF POWER

  total $15,057,750 · related or exempt $15,057,750

• 2b · Program service revenue: CAPITAL CREDITS

  total $702,461 · related or exempt $702,461

• 3 · Investment income

  total $101,146 · excluded $101,146

• 7a · Gross sales of assets other than inventory

  other assets $69,400

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

  other assets $55,646

• 7c · Gain or loss

  other assets $13,754

• 7d · Net gain or loss

  total $13,754 · excluded $13,754

• 10a · Gross sales of inventory

  $37,026

• 10b · Cost of goods sold

  $66,156

• 10c · Net income from sales of inventory

  total -$29,130 · related or exempt -$29,130

• 11d · All other revenue

  total $1,200 · related or exempt $1,200

• 11e · Other revenue, total

  $1,200

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $5,404

• 4 · Benefits paid to or for members

  total $1,764,682

• 5 · Compensation of officers, directors and key employees

  total $424,586

• 7 · Other salaries and wages

  total $1,644,122

• 8 · Pension plan contributions

  total $317,643

• 10 · Payroll taxes

  total $145,578

• 20 · Interest

  total $716,283

• 22 · Depreciation, depletion and amortization

  total $1,492,713

• 24a · Other expenses: COST OF POWER

  total $8,052,987

• 24b · Other expenses: DISTRIBUTION-OPERATIONS

  total $1,344,902

• 24c · Other expenses: ADMIN & GENERAL

  total $1,045,071

• 24d · Other expenses: DISTRIBUTION-MAINTENANC

  total $846,396

• 24e · All other expenses

  total -$2,149,262

Balance sheet

Part X, book values.

• 2 · Savings and temporary cash investments

  beginning of year $2,295,944 · end of year $2,641,309

• 4 · Accounts receivable

  beginning of year $1,598,994 · end of year $1,480,576

• 7 · Other notes and loans receivable

  beginning of year $1,496,308 · end of year $1,362,006

• 8 · Inventories for sale or use

  beginning of year $891,291 · end of year $753,407

• 9 · Prepaid expenses and deferred charges

  beginning of year $124,454 · end of year $156,781

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

  $51,154,822

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

  $15,433,157

• 10c · Land, buildings and equipment, net

  beginning of year $34,208,524 · end of year $35,721,665

• 13 · Investments: program-related

  beginning of year $7,338,482 · end of year $7,456,508

• 15 · Other assets

  beginning of year $5,935 · end of year $5,754

• 17 · Accounts payable and accrued expenses

  beginning of year $1,390,378 · end of year $1,521,551

• 23 · Secured mortgages and notes payable

  beginning of year $20,590,421 · end of year $19,300,580

• 25 · Other liabilities

  beginning of year $117,267 · end of year $1,776,731

• 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 $25,861,866 · end of year $26,979,144

The filer's explanations (Part III)

FORM 990, SCHEDULE J, PART II, COLUMN C:

PART II, COLUMN C INCLUDES THE CHANGE IN ACTUARIAL VALUE IN THE DEFINED BENEFIT PLAN OF $41,001 FOR HOLI WESTON, $62,424 FOR JAMES KINTIGH, AND $28,530 FOR LORI KINYON. THE ACTUAL CONTRIBUTION TO THE DEFINED BENEFIT PLAN FOR HOLI WESTON WAS $28,587, $20,277 FOR JAMES KINTIGH, AND $22,267 FOR LORI KINYON.

Related corporations and trusts

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

• SOUTHWEST IOWA FARMERS SERVICE INC

  C · INACTIVE · IA · 100% owned · controlled entity

  Directly controlled by FARMERS ELECTRIC COOPERATIVE INC