Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: SALE OF POWER

  total $89,230,163 · related or exempt $89,230,163

• 2b · Program service revenue: RTO SERVICE REVENUE

  total $12,348,988 · related or exempt $12,348,988

• 2c · Program service revenue: CAPITAL CREDITS

  total $6,722,481 · related or exempt $6,722,481

• 2d · Program service revenue: OTHER ELECTRIC REVENUE

  total $714,837 · related or exempt $714,837

• 2e · Program service revenue: FIBER OPTIC SALES

  total $351,095 · related or exempt $351,095

• 3 · Investment income

  total $195,738 · excluded $195,738

• 6a · Gross rents

  real property $187,274

• 6b · Less rental expenses

  real property $0

• 6c · Rental income or loss

  real property $187,274

• 6d · Net rental income or loss

  total $187,274 · excluded $187,274

• 7a · Gross sales of assets other than inventory

  other assets $58,880

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

  other assets $0

• 7c · Gain or loss

  other assets $58,880

• 7d · Net gain or loss

  total $58,880 · excluded $58,880

• 11a · Other revenue: MISCELLANEOUS REVENUE

  total $586,380 · related or exempt $586,380

• 11e · Other revenue, total

  $586,380

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $8,235

• 4 · Benefits paid to or for members

  total $6,577,900

• 5 · Compensation of officers, directors and key employees

  total $890,961

• 7 · Other salaries and wages

  total $4,253,475

• 8 · Pension plan contributions

  total $680,802

• 10 · Payroll taxes

  total $364,821

• 20 · Interest

  total $5,739,466

• 22 · Depreciation, depletion and amortization

  total $5,581,916

• 24a · Other expenses: PURCHASED POWER

  total $77,834,929

• 24b · Other expenses: TRANSMISSION

  total $4,163,489

• 24c · Other expenses: STEAM GENERATION

  total $2,468,364

• 24d · Other expenses: CUSTOMER SERVICE & SALE

  total $2,320,732

• 24e · All other expenses

  total -$1,220,166

Balance sheet

Part X, book values.

• 2 · Savings and temporary cash investments

  beginning of year $7,565,604 · end of year $3,973,417

• 4 · Accounts receivable

  beginning of year $8,383,912 · end of year $11,177,769

• 7 · Other notes and loans receivable

  beginning of year $735,947 · end of year $382,650

• 8 · Inventories for sale or use

  beginning of year $4,649,032 · end of year $5,561,158

• 9 · Prepaid expenses and deferred charges

  beginning of year $899,022 · end of year $879,515

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

  $236,648,227

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

  $70,860,871

• 10c · Land, buildings and equipment, net

  beginning of year $144,956,257 · end of year $165,787,356

• 12 · Investments: other securities

  beginning of year $3,150,299 · end of year $3,303,116

• 13 · Investments: program-related

  beginning of year $63,611,831 · end of year $67,614,871

• 14 · Intangible assets

  beginning of year $41,689 · end of year $44,346

• 15 · Other assets

  beginning of year $28,698 · end of year $22,617

• 17 · Accounts payable and accrued expenses

  beginning of year $11,705,647 · end of year $15,698,611

• 19 · Deferred revenue

  beginning of year $2,694,404 · end of year $2,684,688

• 23 · Secured mortgages and notes payable

  beginning of year $129,996,768 · end of year $124,525,751

• 24 · Unsecured notes and loans payable

  end of year $20,984,624

• 25 · Other liabilities

  beginning of year $517,846 · end of year $609,989

• 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 $89,107,626 · end of year $94,243,152

The filer's explanations (Part III)

PART I, LINE 1A

THE COOPERATIVE OCCASIONALLY PROVIDES CHARTER TRAVEL FOR GROUPS OF ITS DIRECTORS, OFFICERS, AND EMPLOYEES TO ATTEND MEETINGS OF OTHER ORGANIZATIONS WHEN THIS IS MORE COST EFFECTIVE AND EXPEDIENT THAN ARRANGING FOR OTHER COMMERCIALLY AVAILABLE TRAVEL METHODS.

PART I, LINE 4B

INVESTMENT GAINS/(LOSSES) IN SUPPLEMENT NON-QUALIFIED RETIREMENT PLAN: MATTHEW WASHBURN $39,421.10 JAYME HUBER $2,614.39 JANE SCHEITLER $4,261.17 STEVE SPIELER $2,680.15

SCHEDULE J, PART II, COLUMN C

PER THE INSTRUCTIONS, COLUMN C INCLUDES THE CHANGE IN ACTUARIAL VALUE IN THE DEFINED BENEFIT PLAN FOR PERSONS LISTED IN SCHEDULE J, PART II. ACTUAL EXPENSE OF THE PLAN MAY BE SIGNIFICANTLY DIFFERENT FROM THE CHANGE IN ACTUARIAL VALUE. ACTUAL EXPENSES OF THE PLAN ARE AS FOLLOWS: MATTHEW WASHBURN $51,100 JANE SCHEITLER $17,679 JAYME HUBER $20,155 MARK NELSON $22,922 MICHAEL PERSINGER $23,159 STEVE SPIELER $18,541 THOMAS BERKENPAS $20,157 CHRISTOPHER LARSON $13,710 CHANGES IN ACTUARIAL VALUES ARE AS FOLLOWS: MATTHEW WASHBURN $66,249 JANE SCHEITLER $16,903 JAYME HUBER $20,710 MARK NELSON $28,620 MICHAEL PERSINGER $32,780 STEVE SPIELER $16,463 THOMAS BERKENPAS $20,683 CHRISTOPHER LARSON $5,525

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

• IOWA COOPERATIVES FOR ENERGY EFFICIENCY

  UNRELATED · ENERGY EFFICIENCY CONFERENCE · IA · 50% owned · share of income -$6,195 · share of assets $6,834 · general or managing partner

  Directly controlled by NORTHWEST IOWA POWER COOPERATIVE