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Nonprofiteer
← T I P RURAL ELECTRIC COOPERATIVE

Form 990 for tax year 2025

Filed by T I P RURAL ELECTRIC COOPERATIVE.

Totals

Total revenue
$19,081,346
Total expenses
$18,569,123
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$18,036,956
Investment income
$89,681
Other revenue
$954,709
Total assets, end of year
$62,045,291
Total liabilities, end of year
$32,356,896
Net assets or fund balances, end of year
$29,688,395
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: REVENUE FROM ELECTRIC SALES

    total $18,036,956 · related or exempt $18,036,956

  • 3 · Investment income

    total $114,569 · excluded $114,569

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

    other assets $24,888

  • 7c · Gain or loss

    other assets -$24,888

  • 7d · Net gain or loss

    total -$24,888 · excluded -$24,888

  • 11a · Other revenue: G&T CAPITAL CREDITS

    total $739,903 · related or exempt $739,903

  • 11b · Other revenue: MISC CAPITAL CREDITS

    total $108,878 · related or exempt $108,878

  • 11c · Other revenue: OTHER ELECTRIC REVENUE

    total $100,727 · related or exempt $100,727

  • 11d · All other revenue

    total $5,201 · related or exempt $5,201

  • 11e · Other revenue, total

    $954,709

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $945,945

  • 5 · Compensation of officers, directors and key employees

    total $487,831

  • 7 · Other salaries and wages

    total $2,035,773

  • 8 · Pension plan contributions

    total $462,709

  • 9 · Other employee benefits

    total $369,464

  • 10 · Payroll taxes

    total $188,080

  • 11b · Fees: legal

    total $10,179

  • 11c · Fees: accounting

    total $21,945

  • 20 · Interest

    total $1,403,074

  • 22 · Depreciation, depletion and amortization

    total $1,639,303

  • 24a · Other expenses: PURCHASED POWER

    total $9,711,977

  • 24b · Other expenses: OVERHEAD LINE EXPENSES

    total $678,810

  • 24c · Other expenses: MAINTENANCE OF OVERHEAD

    total $491,864

  • 24d · Other expenses: MAINTENANCE OF OVERHEAD

    total $245,048

  • 24e · All other expenses

    total -$122,879

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $124,210 · end of year $86,002

  • 2 · Savings and temporary cash investments

    beginning of year $253,234 · end of year $521,028

  • 4 · Accounts receivable

    beginning of year $1,585,067 · end of year $1,716,260

  • 8 · Inventories for sale or use

    beginning of year $1,296,491 · end of year $1,293,068

  • 9 · Prepaid expenses and deferred charges

    beginning of year $345,658 · end of year $250,598

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

    $66,686,940

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

    $16,674,075

  • 10c · Land, buildings and equipment, net

    beginning of year $49,428,713 · end of year $50,012,865

  • 13 · Investments: program-related

    beginning of year $1,603,109 · end of year $1,553,765

  • 15 · Other assets

    beginning of year $6,620,658 · end of year $6,611,705

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,364,590 · end of year $2,419,391

  • 24 · Unsecured notes and loans payable

    beginning of year $29,993,340 · end of year $29,937,505

  • 25 · Other liabilities

    beginning of year $1,789 · end of year $0

  • 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 $28,897,421 · end of year $29,688,395

Mission and programs · 2025

Mission

TO PROVIDE SAFE, RELIABLE ELECTRICITY AT A COMPETITIVE COST AND PURSUE EXCELLENCE IN TECHNOLOGY, SERVICE, AND MEMBER RELATIONS FOR THE BENEFIT OF OUR MEMBERS AND THE COMMUNITIES WE SERVE.

Activities or mission (Part I)

PROVIDING ELECTRIC SERVICE TO 5,074 MEMBERS (6,613 ACCOUNTS)

  • THE COOPERATIVE SOLD 146,157,640 KILOWATT HOURS OF ELECTRIC ENERGY TO ITS 5,074 MEMBER CONSUMERS DURING 2025 FOR RECORDED PROGRAM SERVICE REVENUE OF $18,036,956. THIS REPRESENTS 95% OF THE TOTAL REVENUE FOR THE COOPERATIVE FOR CALENDAR YEAR 2025.

As filed on the 2025 return.

Listed in Part VII

  • Jerry Henning

    PRESIDENT

    Total calculated
    $16,932
    From this org
    $16,896
    From related orgs
    $0
    Other
    $36
    Hours/week
    8.35

  • Randy Upah

    VICE PRESIDENT

    Total calculated
    $10,302
    From this org
    $10,266
    From related orgs
    $0
    Other
    $36
    Hours/week
    4.48

  • Arianne Axmear

    SECRETARY/TREASURER

    Total calculated
    $12,907
    From this org
    $12,871
    From related orgs
    $0
    Other
    $36
    Hours/week
    5.08

  • Lisa Tichy

    ASST. SECRETARY

    Total calculated
    $11,399
    From this org
    $11,363
    From related orgs
    $0
    Other
    $36
    Hours/week
    6.56

  • Ronald Hoffman

    DIRECTOR

    Total calculated
    $14,471
    From this org
    $14,443
    From related orgs
    $0
    Other
    $28
    Hours/week
    8.98

  • Gene Von Ahsen

    DIRECTOR

    Total calculated
    $11,431
    From this org
    $11,395
    From related orgs
    $0
    Other
    $36
    Hours/week
    4.23

  • James De Smet

    DIRECTOR

    Total calculated
    $11,039
    From this org
    $11,008
    From related orgs
    $0
    Other
    $31
    Hours/week
    3.92

  • Craig Stallman

    DIRECTOR

    Total calculated
    $11,722
    From this org
    $11,686
    From related orgs
    $0
    Other
    $36
    Hours/week
    7.27

  • Scott Long

    CEO/GENERAL MANAGER

    Total calculated
    $231,288
    From this org
    $173,144
    From related orgs
    $0
    Other
    $58,144
    Hours/week
    50.73

    Schedule J breakdown matched by us

    Base
    $173,144
    Bonus
    $0
    Other
    $0
    Deferred
    $39,095
    Nontaxable benefits
    $19,049
    Filer's total
    $231,288

  • Terry Kloppenburg

    CFO

    Total calculated
    $175,387
    From this org
    $122,620
    From related orgs
    $0
    Other
    $52,767
    Hours/week
    46.76

    Schedule J breakdown matched by us

    Base
    $122,620
    Bonus
    $0
    Other
    $0
    Deferred
    $28,192
    Nontaxable benefits
    $24,575
    Filer's total
    $175,387

  • Cole Calkins

    STAKING TECHNICIAN/MEMBER SERVICE

    Total calculated
    $171,007
    From this org
    $119,180
    From related orgs
    $0
    Other
    $51,827
    Hours/week
    44

    Schedule J breakdown matched by us

    Base
    $119,180
    Bonus
    $0
    Other
    $0
    Deferred
    $27,264
    Nontaxable benefits
    $24,563
    Filer's total
    $171,007

  • Kendall Bunn

    JOURNEYMAN LINEMAN

    Total calculated
    $143,481
    From this org
    $110,019
    From related orgs
    $0
    Other
    $33,462
    Hours/week
    43.34

  • Adam Hawkins

    LINE FOREMAN

    Total calculated
    $145,538
    From this org
    $118,661
    From related orgs
    $0
    Other
    $26,877
    Hours/week
    44.19

  • Tanner Meeks

    JOURNEYMAN LINEMAN

    Total calculated
    $141,438
    From this org
    $108,283
    From related orgs
    $0
    Other
    $33,155
    Hours/week
    43.02

  • Sean Stutzman

    JOURNEYMAN LINEMAN

    Total calculated
    $157,551
    From this org
    $111,465
    From related orgs
    $0
    Other
    $46,086
    Hours/week
    44.94

    Schedule J breakdown matched by us

    Base
    $111,465
    Bonus
    $0
    Other
    $0
    Deferred
    $25,227
    Nontaxable benefits
    $20,859
    Filer's total
    $157,551

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 · Form 990 of other organizations
  • 3 · Written employment contract
  • 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 3
DATA FROM A COMPENSATION SURVEY WITH INFORMATION ON CEO/GENERAL MANAGER SALARIES FROM OTHER RURAL ELECTRIC COOPERATIVES IN IOWA, IN OUR REGION, AND ACROSS THE UNITED STATES WAS USED TO HELP DETERMINE THE PROPER COMPENSATION. ALSO, THE CPI COST OF LIVING FIGURES FROM THE DEPARTMENT OF LABOR WERE USED. THE CONTRACT WAS REVIEWED AND APPROVED BY THE BOARD FOR 2 YEARS.

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
2025
Filed
5 March 2026
IRS schema version
2025v4.0
Source object
202610909349301021

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