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Nonprofiteer
← LYON RURAL ELECTRIC COOPERATIVE

Form 990 for tax year 2024

Filed by LYON RURAL ELECTRIC COOPERATIVE.

Totals

Total revenue
$13,885,988
Total expenses
$13,882,794
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$13,269,157
Investment income
$58,592
Other revenue
$558,239
Total assets, end of year
$34,294,049
Total liabilities, end of year
$19,883,552
Net assets or fund balances, end of year
$14,410,497
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: SALE OF POWER

    total $13,269,157 · related or exempt $13,269,157

  • 3 · Investment income

    total $58,592 · excluded $58,592

  • 6a · Gross rents

    real property $2,851

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $2,851

  • 6d · Net rental income or loss

    total $2,851 · excluded $2,851

  • 10a · Gross sales of inventory

    $152,241

  • 10b · Cost of goods sold

    $133,983

  • 10c · Net income from sales of inventory

    total $18,258 · unrelated business $200 · excluded $18,058

  • 11a · Other revenue: CAPITAL CREDITS

    total $537,130 · related or exempt $537,130

  • 11e · Other revenue, total

    $537,130

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $845,506

  • 5 · Compensation of officers, directors and key employees

    total $277,628

  • 20 · Interest

    total $862,494

  • 22 · Depreciation, depletion and amortization

    total $834,455

  • 24a · Other expenses: COST OF POWER

    total $8,721,895

  • 24b · Other expenses: ADMIN & GENERAL EXP

    total $702,683

  • 24c · Other expenses: DIST EXP - OPERATIONS

    total $627,220

  • 24d · Other expenses: DIST EXP - MAINTENANCE

    total $594,494

  • 24e · All other expenses

    total $416,419

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $18,661 · end of year $17,592

  • 2 · Savings and temporary cash investments

    beginning of year $651,676 · end of year $559,505

  • 4 · Accounts receivable

    beginning of year $1,141,109 · end of year $1,196,541

  • 8 · Inventories for sale or use

    beginning of year $2,033,541 · end of year $1,396,125

  • 9 · Prepaid expenses and deferred charges

    beginning of year $538,131 · end of year $173,879

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

    $38,067,187

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

    $15,574,615

  • 10c · Land, buildings and equipment, net

    beginning of year $20,289,824 · end of year $22,492,572

  • 13 · Investments: program-related

    beginning of year $8,221,821 · end of year $8,443,500

  • 14 · Intangible assets

    beginning of year $7,180 · end of year $7,180

  • 15 · Other assets

    beginning of year $7,080 · end of year $7,155

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,146,313 · end of year $1,118,770

  • 19 · Deferred revenue

    beginning of year $49,790 · end of year $39,958

  • 23 · Secured mortgages and notes payable

    beginning of year $17,758,665 · end of year $18,712,207

  • 25 · Other liabilities

    beginning of year $111,580 · end of year $12,617

  • 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 $13,842,675 · end of year $14,410,497

Mission and programs · 2024

Mission

THE PRIMARY OBJECTIVE OF LYON RURAL ELECTRIC COOPERATIVE IS TO PROVIDE THE HIGHEST QUALITY SERVICES POSSIBLE TO OUR MEMBER-CONSUMER AT THE LOWEST COST CONSISTENT WITH SOUND BUSINESS PRACTICES. SERVICES PROVIDED TO OUR MEMBER-CONSUMERS WILL BE EVALUATED AT AN ONGOING BASIS TO MEET THE CHANGING NEEDS OF OUR MEMBERSHIP WHILE BENEFITING THE LONG-RANGE OBJECTIVES OF THE COOPERATIVE.

Activities or mission (Part I)

RURAL UTILITY SERVICE

  • PROVIDING RELIABLE AND AFFORDABLE ELECTRICAL SERVICE TO OUR MEMBER-CONSUMERS. THROUGH OUR LONG TERM PLANNING AND REINVESTMENT IN THE ELECTRICAL PLANT OUR MEMBERS ENJOYED A 99.99 % OF CONTINUOUS SERVICE IN 2024. LYON RURAL ELECTRIC COOPERATIVE RESIDENTIAL MEMBERS ENJOYED A RATE THAT RANKED IN THE LOWEST 10% PER KWH OF COOPERATIVES IN THE NATION, SMALL COMMERCIAL MEMBERS ENJOYED A RATE THAT RANKED IN THE LOWEST 35% PER KWH OF COOPERATIVES IN THE NATION AND LARGE COMMERCIAL MEMBERS ENJOYED A RATE THAT RANKED IN THE LOWEST 55% PER KWH OF COOPERATIVES IN THE NATION IN 2024, THE LATEST REPORTING PERIOD WITH COMPARABLE DATA.

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

Listed in Part VII

  • David Huff

    PRESIDENT

    Total calculated
    $6,058
    From this org
    $6,050
    From related orgs
    $0
    Other
    $8
    Hours/week
    4.5

  • Nolan Kooiker

    VICE PRESIDENT

    Total calculated
    $5,058
    From this org
    $5,050
    From related orgs
    $0
    Other
    $8
    Hours/week
    3.1

  • Rodney Mogler

    TREASURER

    Total calculated
    $4,808
    From this org
    $4,800
    From related orgs
    $0
    Other
    $8
    Hours/week
    2.16

  • David De Boer

    SECRETARY

    Total calculated
    $6,258
    From this org
    $6,250
    From related orgs
    $0
    Other
    $8
    Hours/week
    3.07

  • David Griesse

    DIRECTOR

    Total calculated
    $6,558
    From this org
    $6,550
    From related orgs
    $0
    Other
    $8
    Hours/week
    3.67

  • Damon Pedersen

    DIRECTOR

    Total calculated
    $5,258
    From this org
    $5,250
    From related orgs
    $0
    Other
    $8
    Hours/week
    2.3

  • Allen Poppens

    DIRECTOR

    Total calculated
    $5,816
    From this org
    $5,800
    From related orgs
    $0
    Other
    $16
    Hours/week
    3.58

  • Jessee Roemen

    DIRECTOR

    Total calculated
    $5,258
    From this org
    $5,250
    From related orgs
    $0
    Other
    $8
    Hours/week
    2.47

  • Jerry Mulder

    DIRECTOR

    Total calculated
    $3,560
    From this org
    $3,550
    From related orgs
    $0
    Other
    $10
    Hours/week
    1.17

  • Ross Loomans

    GENERAL MANAGER

    Total calculated
    $228,996
    From this org
    $166,663
    From related orgs
    $0
    Other
    $62,333
    Hours/week
    42.16

    Schedule J breakdown matched by us

    Base
    $166,663
    Bonus
    $0
    Other
    $0
    Deferred
    $36,410
    Nontaxable benefits
    $25,923
    Filer's total
    $228,996

  • Bryan Herum

    LEAD LINEMAN

    Total calculated
    $162,907
    From this org
    $110,172
    From related orgs
    $0
    Other
    $52,735
    Hours/week
    40.61

    Schedule J breakdown matched by us

    Base
    $110,172
    Bonus
    $0
    Other
    $0
    Deferred
    $24,719
    Nontaxable benefits
    $28,016
    Filer's total
    $162,907

  • Dustin Timmerman

    LINE FOREMAN

    Total calculated
    $193,795
    From this org
    $132,494
    From related orgs
    $0
    Other
    $61,301
    Hours/week
    42.49

    Schedule J breakdown matched by us

    Base
    $132,494
    Bonus
    $0
    Other
    $0
    Deferred
    $30,204
    Nontaxable benefits
    $31,097
    Filer's total
    $193,795

  • Larry Wibben

    MEMBER SERVICES DIRECTOR

    Total calculated
    $168,733
    From this org
    $116,902
    From related orgs
    $0
    Other
    $51,831
    Hours/week
    41.31

    Schedule J breakdown matched by us

    Base
    $116,902
    Bonus
    $0
    Other
    $0
    Deferred
    $26,326
    Nontaxable benefits
    $25,505
    Filer's total
    $168,733

  • Patrick Wubben

    LINEMAN

    Total calculated
    $159,025
    From this org
    $109,402
    From related orgs
    $0
    Other
    $49,623
    Hours/week
    41.59

    Schedule J breakdown matched by us

    Base
    $109,402
    Bonus
    $0
    Other
    $0
    Deferred
    $24,055
    Nontaxable benefits
    $25,568
    Filer's total
    $159,025

  • Tanner Church

    LINEMAN

    Total calculated
    $150,710
    From this org
    $102,532
    From related orgs
    $0
    Other
    $48,178
    Hours/week
    41.27

    Schedule J breakdown matched by us

    Base
    $102,532
    Bonus
    $0
    Other
    $0
    Deferred
    $22,843
    Nontaxable benefits
    $25,335
    Filer's total
    $150,710

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

  • 1a · Travel for companions
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 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

The filer's explanations (Part III)

PART I, LINE 1A
TRAVEL FOR SPOUSE WAS REIMBURSED TO THE COOPERATIVE.
PART I, LINE 3
EVERY DECEMBER, THE SALARY FOR THE GENERAL MANAGER IS REVIEWED BY AND SET FOR THE NEXT YEAR BY THE BOARD OF DIRECTORS. THE NRECA NATIONAL COMPENSATION SURVEY IS USED TO HELP ESTABLISH THE SALARY. ALL SALARIES ARE APPROVED BY THE BOARD OF DIRECTORS AND THIS ACTION IS RECORDED IN THE BOARD MEETING MINUTES. THE PROCESS WAS LAST COMPLETED IN DECEMBER 2024.

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.

Provenance

Return type
form_990
Tax year
2024
Filed
29 May 2025
IRS schema version
2024v5.1
Source object
202532139349300038

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