Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: SALE OF POWER

  total $66,738,157 · related or exempt $66,738,157

• 3 · Investment income

  total $226,426 · excluded $226,426

• 7a · Gross sales of assets other than inventory

  other assets $2,551,042

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

  other assets $2,507,999

• 7c · Gain or loss

  other assets $43,043

• 7d · Net gain or loss

  total $43,043 · excluded $43,043

• 10a · Gross sales of inventory

  $89,837

• 10b · Cost of goods sold

  $0

• 10c · Net income from sales of inventory

  total $89,837 · related or exempt $89,837

• 11a · Other revenue: CAPITAL CREDITS

  total $3,522,258 · related or exempt $3,522,258

• 11b · Other revenue: MISCELLANEOUS

  total $25,697 · related or exempt $25,697

• 11e · Other revenue, total

  $3,547,955

Functional expenses

Part IX, the statement of functional expenses.

• 4 · Benefits paid to or for members

  total $3,500,000

• 5 · Compensation of officers, directors and key employees

  total $709,176

• 20 · Interest

  total $5,016,587

• 22 · Depreciation, depletion and amortization

  total $5,755,522

• 24a · Other expenses: COST OF POWER

  total $35,241,484

• 24b · Other expenses: DIST EXP-OPERATIONS

  total $6,014,349

• 24c · Other expenses: DIST EXP-MAINTENANCE

  total $3,142,672

• 24d · Other expenses: ADMIN & GENERAL EXPENSE

  total $2,524,518

• 24e · All other expenses

  total $3,596,244

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 $1,126,216 · end of year $1,668,813

• 4 · Accounts receivable

  beginning of year $6,682,241 · end of year $6,640,557

• 8 · Inventories for sale or use

  beginning of year $11,114,519 · end of year $12,024,013

• 9 · Prepaid expenses and deferred charges

  beginning of year $324,346 · end of year $135,672

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

  $218,003,048

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

  $55,197,389

• 10c · Land, buildings and equipment, net

  beginning of year $151,016,351 · end of year $162,805,659

• 12 · Investments: other securities

  beginning of year $1,742,318 · end of year $1,813,634

• 13 · Investments: program-related

  beginning of year $35,838,995 · end of year $37,467,978

• 15 · Other assets

  beginning of year $277,600 · end of year $303,834

• 17 · Accounts payable and accrued expenses

  beginning of year $4,433,763 · end of year $4,943,290

• 19 · Deferred revenue

  beginning of year $1,771,572 · end of year $1,537,470

• 23 · Secured mortgages and notes payable

  beginning of year $111,516,397 · end of year $118,234,029

• 25 · Other liabilities

  beginning of year $468,908 · end of year $504,389

• 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 $89,941,805 · end of year $97,650,841

The filer's explanations (Part III)

PART I, LINE 3

THE BOARD APPROVES THE CEO'S SALARY. IT ALSO APPROVES AN OVERALL PERCENTAGE OF INCREASE FOR EMPLOYEES.

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 $87,976 · share of assets $2,063,391 · controlled entity

  Directly controlled by LINN COUNTY REC

• MYRIAD DEVELOPERS LC

  C · RENTAL REAL ESTATE · IA · 100% owned · share of income $302,935 · share of assets $1,461,233

  Directly controlled by CORRIDOR DEVELOPMENT INC