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← IOWA ASSOCIATION OF ELECTRIC COOPERATIVES

Form 990 for tax year 2024

Filed by IOWA ASSOCIATION OF ELECTRIC COOPERATIVES.

Totals

Total revenue
$5,923,543
Total expenses
$5,666,351
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$5,839,016
Investment income
$67,577
Other revenue
$16,950
Total assets, end of year
$3,656,046
Total liabilities, end of year
$736,489
Net assets or fund balances, end of year
$2,919,557
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: MEMBERSHIP DUES AND ASSESSMENTS

    total $2,883,498 · excluded $2,883,498

  • 2b · Program service revenue: SAFETY & LOSS CONTROL

    total $1,275,053 · excluded $1,275,053

  • 2c · Program service revenue: EDUCATION & TRAINING

    total $847,565 · excluded $847,565

  • 2d · Program service revenue: COMMUNICATIONS

    total $809,175 · unrelated business $7,000 · excluded $802,175

  • 2e · Program service revenue: REGULATORY

    total $14,725 · excluded $14,725

  • 2f · All other program service revenue

    total $9,000 · excluded $9,000

  • 3 · Investment income

    total $58,290 · excluded $58,290

  • 6a · Gross rents

    real property $16,950

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $16,950

  • 6d · Net rental income or loss

    total $16,950 · related or exempt $16,950

  • 7a · Gross sales of assets other than inventory

    securities $219,862

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

    securities $210,559 · other assets $16

  • 7c · Gain or loss

    securities $9,303 · other assets -$16

  • 7d · Net gain or loss

    total $9,287 · excluded $9,287

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $477,997

  • 7 · Other salaries and wages

    total $1,412,800

  • 8 · Pension plan contributions

    total $388,650

  • 9 · Other employee benefits

    total $194,966

  • 10 · Payroll taxes

    total $150,303

  • 11b · Fees: legal

    total $32,738

  • 11c · Fees: accounting

    total $178,291

  • 11d · Fees: lobbying

    total $73,900

  • 13 · Office expenses

    total $89,333

  • 17 · Travel

    total $46,988

  • 19 · Conferences, conventions and meetings

    total $18,148

  • 22 · Depreciation, depletion and amortization

    total $141,007

  • 23 · Insurance

    total $43,677

  • 24a · Other expenses: COMMUNICATIONS

    total $872,442

  • 24b · Other expenses: EDUCATION

    total $853,603

  • 24c · Other expenses: SAFETY

    total $328,542

  • 24d · Other expenses: GOVERNMENT RELATIONS

    total $206,008

  • 24e · All other expenses

    total $156,958

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $457,585 · end of year $748,607

  • 2 · Savings and temporary cash investments

    beginning of year $913,326 · end of year $951,253

  • 4 · Accounts receivable

    beginning of year $358,836 · end of year $187,371

  • 7 · Other notes and loans receivable

    beginning of year $0 · end of year $100,000

  • 9 · Prepaid expenses and deferred charges

    beginning of year $234,367 · end of year $200,348

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

    $1,921,578

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

    $1,300,333

  • 10c · Land, buildings and equipment, net

    beginning of year $661,896 · end of year $621,245

  • 11 · Investments: publicly traded securities

    beginning of year $530,493 · end of year $588,790

  • 12 · Investments: other securities

    beginning of year $190,894 · end of year $191,333

  • 15 · Other assets

    beginning of year $94,598 · end of year $67,099

  • 17 · Accounts payable and accrued expenses

    beginning of year $642,866 · end of year $623,063

  • 19 · Deferred revenue

    beginning of year $99,092 · end of year $42,450

  • 25 · Other liabilities

    beginning of year $97,424 · end of year $70,976

  • 27 · Net assets without donor restrictions

    beginning of year $2,572,196 · end of year $2,662,366

Mission and programs · 2024

Mission

PROVIDE SERVICES TO RURAL ELECTRIC COOPERATIVES.

Activities or mission (Part I)

TO PROVIDE SERVICES TO RURAL ELECTRIC COOPERATIVES.

  • EDUCATION & TRAINING - PROVIDED EDUCATIONAL OPPORTUNITIES FOR EMPLOYEES AND DIRECTORS OF MEMBER COOPERATIVES IN TECHNICAL AND MANAGEMENT SUBJECTS RELATED TO THEIR EMPLOYMENT. NUMEROUS PROGRAMS WERE HELD DURING THE YEAR.

  • SAFETY PROGRAMS - PROVIDED EDUCATION AND TRAINING IN AREAS RELATED TO ELECTRIC & OSHA SAFETY. SEVERAL STAFF MEMBERS WERE DEVOTED EXCLUSIVELY TO THIS FUNCTION.

  • GOVERNMENT RELATIONS - PROVIDE INFORMATION TO LEGISLATIVE AND ADMINISTRATIVE PARTIES IN FEDERAL AND STATE GOVERNMENT ON RURAL ELECTRIC ISSUES.

  • COMMUNICATIONS - PROMOTED PUBLIC AWARENESS OF RURAL ELECTRIC COOPERATIVES AND THEIR PURPOSE AND ACTIVITIES PARTICULARLY WHAT MEMBER-CONSUMER-OWNERS CAN DO TO USE ENERGY MORE EFFICIENTLY. APPROXIMATELY 55,000 COPIES OF "IOWA ELECTRIC COOPERATIVE LIVING" MAGAZINES ARE CIRCULATED MONTHLY.

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Marion Denger

    NRECA DIRECTOR

    Total calculated
    $7,950
    From this org
    $7,950
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Terry Sullivan

    MANAGER'S REPRESENTATIVE

    Total calculated
    $0
    Hours/week
    2

  • Jim Miller

    PRESIDENT

    Total calculated
    $15,505
    From this org
    $15,505
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Gordon Greimann

    VICE PRESIDENT

    Total calculated
    $11,387
    From this org
    $11,387
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Tony Lem

    SECRETARY/TREASURER

    Total calculated
    $9,588
    From this org
    $9,588
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Jerry Keleher

    ASSISTANT SECRETARY/TREASURER

    Total calculated
    $9,788
    From this org
    $9,788
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Bruce Amundson

    DIRECTOR

    Total calculated
    $9,238
    From this org
    $9,238
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Steve Inskeep

    DIRECTOR

    Total calculated
    $2,038
    From this org
    $2,038
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Travis Harris

    DIRECTOR

    Total calculated
    $1,250
    From this org
    $1,250
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Charles Soderberg

    PAST EXECUTIVE V.P./GENERAL MANAGER

    Total calculated
    $308,616
    From this org
    $249,275
    From related orgs
    $0
    Other
    $59,341
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $249,275
    Bonus
    $0
    Other
    $0
    Deferred
    $56,474
    Nontaxable benefits
    $2,867
    Filer's total
    $308,616

  • Leslie Kaufman

    EXECUTIVE V.P/GENERAL MANAGER

    Total calculated
    $0
    Hours/week
    52

  • Erin Campbell

    DIRECTOR - COMMUNICATIONS

    Total calculated
    $178,510
    From this org
    $115,170
    From related orgs
    $0
    Other
    $63,340
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $115,170
    Bonus
    $0
    Other
    $0
    Deferred
    $31,716
    Nontaxable benefits
    $31,624
    Filer's total
    $178,510

  • Tim Falk

    DIRECTOR - BENEFITS

    Total calculated
    $240,163
    From this org
    $181,849
    From related orgs
    $0
    Other
    $58,314
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $181,849
    Bonus
    $0
    Other
    $0
    Deferred
    $43,771
    Nontaxable benefits
    $14,543
    Filer's total
    $240,163

  • Scott Meineke

    DIRECTOR - SAFETY

    Total calculated
    $207,981
    From this org
    $151,449
    From related orgs
    $0
    Other
    $56,532
    Hours/week
    51

    Schedule J breakdown matched by us

    Base
    $151,449
    Bonus
    $0
    Other
    $0
    Deferred
    $37,288
    Nontaxable benefits
    $19,244
    Filer's total
    $207,981

  • Ethan Hohenadel

    DIRECTOR - REGULATORY AFFAIRS

    Total calculated
    $238,747
    From this org
    $177,210
    From related orgs
    $0
    Other
    $61,537
    Hours/week
    44

    Schedule J breakdown matched by us

    Base
    $177,210
    Bonus
    $0
    Other
    $0
    Deferred
    $42,999
    Nontaxable benefits
    $18,538
    Filer's total
    $238,747

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.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

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.

  • HAWKEYE INSURANCE ASSOCIATION

    C · BENEFITS ADMIN · IA

Provenance

Return type
form_990
Tax year
2024
Filed
2 February 2026
IRS schema version
2024v5.5
Source object
202640409349301139

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