SOUTHWEST IOWA REC: Form 990, tax year 2023

View the entire original 990 at ProPublica ↗

Organization
SOUTHWEST IOWA REC (EIN 20-0538386)
Tax period
2023-01-01 to 2023-12-31
Filed
2024-06-12
IRS object ID
202411649349301411
Schema version
2023v5.0
Source
Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header ReturnHeader

FieldValueIRS element (for citing)
Return2024-06-12T10:26:51-05:00ReturnTs
Tax Period End2023-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN410746749PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1CLIFTONLARSONALLEN LLPBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line12689 COMMERCE DRIVE NW SUITE 201AddressLine1Txt
CityROCHESTERCityNm
State AbbreviationMNStateAbbreviationCd
ZIP55901ZIPCd
FieldValueIRS element (for citing)
Return Type990ReturnTypeCd
Tax Period Begin2023-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN200538386EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1SOUTHWEST IOWA RECBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name ControlSOUTBusinessNameControlTxt
Phone8882204869PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line11801 GROVE AVENUEAddressLine1Txt
CityCORNINGCityNm
State AbbreviationIAStateAbbreviationCd
ZIP508411623ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonPHIL KINSERPersonNm
Person TitleCEOPersonTitleTxt
Phone8882204869PhoneNum
Signature2024-05-31SignatureDt
Discuss With Paid PreparerYes (1)DiscussWithPaidPreparerInd

Signing Officer SigningOfficerGrp

Person Full Name PersonFullName

FieldValueIRS element (for citing)
Person FirstPHILPersonFirstNm
Person LastKINSERPersonLastNm
FieldValueIRS element (for citing)
SSN999009999SSN
FieldValueIRS element (for citing)
IRS Responsible Prty Info CurrYes (1)IRSResponsiblePrtyInfoCurrInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonKATHERINE LUTZKE CPAPreparerPersonNm
PTINP01760889PTIN
Phone5072802300PhoneNum
Preparation2024-05-31PreparationDt

Additional Filer Information AdditionalFilerInformation

Trusted Customer TrustedCustomerGrp

FieldValueIRS element (for citing)
Trusted Customer3TrustedCustomerCd
Authentication Assurance LevelAAL1AuthenticationAssuranceLevelCd
Identity Assurance LevelIAL1IdentityAssuranceLevelCd
FieldValueIRS element (for citing)
Tax2023TaxYr
Build TS2023-04-26 12:10:37ZBuildTS

Form 990 IRS990

FieldValueIRS element (for citing)
Principal OfficerPHIL KINSERPrincipalOfficerNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line11801 GROVE AVENUEAddressLine1Txt
CityCORNINGCityNm
State AbbreviationIAStateAbbreviationCd
ZIP508411623ZIPCd
FieldValueIRS element (for citing)
Gross Receipts$13,297,334GrossReceiptsAmt
Group Return For Affiliates0GroupReturnForAffiliatesInd
Organization501cYes (X)Organization501cInd
Website AddressWWW.SWIAREC.COOPWebsiteAddressTxt
Type Of Organization CorpYes (X)TypeOfOrganizationCorpInd
Formation2004FormationYr
Legal Domicile StateIALegalDomicileStateCd
Activity Or MissionTO DISTRIBUTE ELECTRIC ENERGY TO OUR MEMBERS IN A MANNER CONSISTENT WITH SOUND BUSINESS PRACTICES.ActivityOrMissionDesc
Voting Members Governing Body10VotingMembersGoverningBodyCnt
Voting Members Independent10VotingMembersIndependentCnt
Total Employee34TotalEmployeeCnt
Total Volunteers0TotalVolunteersCnt
Total Gross UBI$8,571TotalGrossUBIAmt
Net Unrelated Bus Txbl Incm$0NetUnrelatedBusTxblIncmAmt
PY Contributions Grants$0PYContributionsGrantsAmt
CY Contributions Grants$0CYContributionsGrantsAmt
PY Program Service Revenue$12,808,231PYProgramServiceRevenueAmt
CY Program Service Revenue$12,441,515CYProgramServiceRevenueAmt
PY Investment Income$110,942PYInvestmentIncomeAmt
CY Investment Income$94,549CYInvestmentIncomeAmt
PY Other Revenue$331,183PYOtherRevenueAmt
CY Other Revenue$653,890CYOtherRevenueAmt
PY Total Revenue$13,250,356PYTotalRevenueAmt
CY Total Revenue$13,189,954CYTotalRevenueAmt
PY Grants And Similar Paid$0PYGrantsAndSimilarPaidAmt
CY Grants And Similar Paid$0CYGrantsAndSimilarPaidAmt
PY Benefits Paid To Members$303,184PYBenefitsPaidToMembersAmt
CY Benefits Paid To Members$324,500CYBenefitsPaidToMembersAmt
PY Salaries Comp Emp Bnft Paid$238,228PYSalariesCompEmpBnftPaidAmt
CY Salaries Comp Emp Bnft Paid$256,249CYSalariesCompEmpBnftPaidAmt
PY Total Prof Fndrsng Expns$0PYTotalProfFndrsngExpnsAmt
CY Total Prof Fndrsng Expns$0CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense$0CYTotalFundraisingExpenseAmt
PY Other Expenses$12,453,668PYOtherExpensesAmt
CY Other Expenses$12,038,468CYOtherExpensesAmt
PY Total Expenses$12,995,080PYTotalExpensesAmt
CY Total Expenses$12,619,217CYTotalExpensesAmt
PY Revenues Less Expenses$255,276PYRevenuesLessExpensesAmt
CY Revenues Less Expenses$570,737CYRevenuesLessExpensesAmt
Total Assets BOY$42,589,931TotalAssetsBOYAmt
Total Assets EOY$44,485,689TotalAssetsEOYAmt
Total Liabilities BOY$23,981,955TotalLiabilitiesBOYAmt
Total Liabilities EOY$25,362,944TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY$18,607,976NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY$19,122,745NetAssetsOrFundBalancesEOYAmt
MissionTO DISTRIBUTE ELECTRIC ENERGY TO OUR MEMBER-CONSUMERS OF RURAL RESIDENTIAL, SMALL COMMERCIAL, LARGE POWER AND PUBLIC AUTHORITY USERS IN A MANNER CONSISTENT WITH SOUND BUSINESS PRACTICES.MissionDesc
Significant New Program Srvc0SignificantNewProgramSrvcInd
Significant Change0SignificantChangeInd
DescWE DISTRIBUTED ELECTRIC ENERGY TO 6,055 MEMBER-CONSUMERS OF RURAL RESIDENTIAL, SMALL COMMERCIAL, LARGE POWER AND PUBLIC AUTHORITY USERS IN A MANNER CONSISTENT WITH SOUND BUSINESS PRACTICES. WE INSTALLED 59 NEW SERVICES AND RETIRED 28 SERVICES. WE ADDED 20.82 MILES OF OVERHEAD LINE AND RETIRED 17.53 MILES OF OVERHEAD LINE. WE INSTALLED 1.55 MILES OF UNDERGROUND LINE AND RETIRED 0.29 MILES OF UNDERGROUND LINE.Desc
Described In Section501c30DescribedInSection501c3Ind
Schedule B Required0ScheduleBRequiredInd
Political Campaign Acty0PoliticalCampaignActyInd
Subject To Proxy Tax0SubjectToProxyTaxInd
Donor Advised Fund0DonorAdvisedFundInd
Conservation Easements0ConservationEasementsInd
Collections Of Art0CollectionsOfArtInd
Credit Counseling0CreditCounselingInd
Donor Rstr Or Quasi Endowments0DonorRstrOrQuasiEndowmentsInd
Report Land Building EquipmentYes (1)ReportLandBuildingEquipmentInd
Report Investments Other Sec0ReportInvestmentsOtherSecInd
Report Program Related InvstYes (1)ReportProgramRelatedInvstInd
Report Other Assets0ReportOtherAssetsInd
Report Other LiabilitiesYes (1)ReportOtherLiabilitiesInd
Include FIN48 FootnoteYes (1)IncludeFIN48FootnoteInd
Independent Audit Fincl StmtYes (1)IndependentAuditFinclStmtInd
Consolidated Audit Fincl Stmt0ConsolidatedAuditFinclStmtInd
School Operating0SchoolOperatingInd
Foreign Office0ForeignOfficeInd
Foreign Activities0ForeignActivitiesInd
More Than5000 K To Org0MoreThan5000KToOrgInd
More Than5000 K To Individuals0MoreThan5000KToIndividualsInd
Professional Fundraising0ProfessionalFundraisingInd
Fundraising Activities0FundraisingActivitiesInd
Gaming Activities0GamingActivitiesInd
Operate Hospital0OperateHospitalInd
Grants To Organizations0GrantsToOrganizationsInd
Grants To Individuals0GrantsToIndividualsInd
Schedule J RequiredYes (1)ScheduleJRequiredInd
Tax Exempt Bonds0TaxExemptBondsInd
Loan Outstanding0LoanOutstandingInd
Grant To Related Person0GrantToRelatedPersonInd
Business Rln With Org Mem0BusinessRlnWithOrgMemInd
Business Rln With Fam Mem0BusinessRlnWithFamMemInd
Business Rln With35 Ctrl Ent0BusinessRlnWith35CtrlEntInd
Deductible Non Cash Contri0DeductibleNonCashContriInd
Deductible Art Contribution0DeductibleArtContributionInd
Terminate Operations0TerminateOperationsInd
Partial Liquidation0PartialLiquidationInd
Disregarded Entity0DisregardedEntityInd
Related Entity0RelatedEntityInd
Related Organization Ctrl Ent0RelatedOrganizationCtrlEntInd
Activities Conducted Prtshp0ActivitiesConductedPrtshpInd
Schedule O RequiredYes (1)ScheduleORequiredInd
IRP Document43IRPDocumentCnt
IRP Document W2 G0IRPDocumentW2GCnt
Backup Wthld ComplianceYes (1)BackupWthldComplianceInd
Employee34EmployeeCnt
Employment Tax Returns FiledYes (1)EmploymentTaxReturnsFiledInd
Unrelated Bus Incm Over LimitYes (1)UnrelatedBusIncmOverLimitInd
Form990 T FiledYes (1)Form990TFiledInd
Foreign Financial Account0ForeignFinancialAccountInd
Prohibited Tax Shelter Trans0ProhibitedTaxShelterTransInd
Taxable Party Notification0TaxablePartyNotificationInd
Nondeductible Contributions0NondeductibleContributionsInd
Members And Shr Gross Income$12,902,576MembersAndShrGrossIncomeAmt
Other Sources Gross Income$128,492OtherSourcesGrossIncomeAmt
Indoor Tanning Services0IndoorTanningServicesInd
Subj To Tax Rmnrtn Ex Prcht Pymt0SubjToTaxRmnrtnExPrchtPymtInd
Subject To Excs Tax Net Invst Inc0SubjectToExcsTaxNetInvstIncInd
Info In Schedule O Part VIYes (X)InfoInScheduleOPartVIInd
Governing Body Voting Members10GoverningBodyVotingMembersCnt
Independent Voting Member10IndependentVotingMemberCnt
Family Or Business Rln0FamilyOrBusinessRlnInd
Delegation Of Mgmt Duties0DelegationOfMgmtDutiesInd
Change To Org Documents0ChangeToOrgDocumentsInd
Material Diversion Or Misuse0MaterialDiversionOrMisuseInd
Members Or StockholdersYes (1)MembersOrStockholdersInd
Election Of Board MembersYes (1)ElectionOfBoardMembersInd
Decisions Subject To ApprovaYes (1)DecisionsSubjectToApprovaInd
Minutes Of Governing BodyYes (1)MinutesOfGoverningBodyInd
Minutes Of Committees0MinutesOfCommitteesInd
Officer Mailing Address0OfficerMailingAddressInd
Local Chapters0LocalChaptersInd
Form990 Provided To Gvrn BodyYes (1)Form990ProvidedToGvrnBodyInd
Conflict Of Interest PolicyYes (1)ConflictOfInterestPolicyInd
Annual Disclosure Covered PrsnYes (1)AnnualDisclosureCoveredPrsnInd
Regular Monitoring EnfrcYes (1)RegularMonitoringEnfrcInd
Whistleblower PolicyYes (1)WhistleblowerPolicyInd
Document Retention PolicyYes (1)DocumentRetentionPolicyInd
Compensation Process CEOYes (1)CompensationProcessCEOInd
Compensation Process Other0CompensationProcessOtherInd
Investment In Joint Venture0InvestmentInJointVentureInd
Upon RequestYes (X)UponRequestInd

Books In Care Of Detail BooksInCareOfDetail

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1SARAH NEWTONBusinessNameLine1Txt
FieldValueIRS element (for citing)
Phone8882204869PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line11502 W SOUTH STREETAddressLine1Txt
CityMOUNT AYRCityNm
State AbbreviationIAStateAbbreviationCd
ZIP50854ZIPCd

Form990 Part VII Section A Form990PartVIISectionAGrp (13 entries)

TitleTitleTxtAverage Hours Per WeekAverageHoursPerWeekRtIndividual Trustee Or DirectorIndividualTrusteeOrDirectorIndOfficerOfficerIndReportable Comp From OrgReportableCompFromOrgAmtReportable Comp From Rltd OrgReportableCompFromRltdOrgAmtOther CompensationOtherCompensationAmtHighest Compensated EmployeeHighestCompensatedEmployeeInd
MARILYN WERNER
PRESIDENT6.41Yes (X)Yes (X)$9,075$0$0
MARK HERZBERG
VICE PRESIDENT3.27Yes (X)Yes (X)$3,700$0$0
KAY FAST-DEYOE
SECRETARY3.43Yes (X)Yes (X)$5,700$0$0
KEN PEPPMEIER
SECRETARY - PART YEAR2.74Yes (X)Yes (X)$3,200$0$0
JASON SMITH
TREASURER2.50Yes (X)Yes (X)$3,450$0$0
DEENA MOORE
DIRECTOR3.90Yes (X)$3,450$0$0
DANA MORGAN
DIRECTOR1.77Yes (X)$3,450$0$0
DALE WALKUP
DIRECTOR2.87Yes (X)$3,950$0$0
TERRY BARNES
DIRECTOR3.02Yes (X)$3,950$0$0
ALAN SPENCER
DIRECTOR1.45Yes (X)$3,450$0$0
BONNIE LARSON
DIRECTOR2.38Yes (X)$1,000$0$0
PHIL KINSER
CEO/GENERAL MANAGER40.00Yes (X)$175,769$0$36,105
JUSTIN MURPHY
DIRECTOR OF OPERATIONS40.00$100,712$0$32,823Yes (X)
FieldValueIRS element (for citing)
Total Reportable Comp From Org$320,856TotalReportableCompFromOrgAmt
Tot Reportable Comp Rltd Org$0TotReportableCompRltdOrgAmt
Total Other Compensation$68,928TotalOtherCompensationAmt
Indiv Rcvd Greater Than100 K2IndivRcvdGreaterThan100KCnt
Former Ofcr Employees Listed0FormerOfcrEmployeesListedInd
Total Comp Greater Than150 KYes (1)TotalCompGreaterThan150KInd
Compensation From Other Srcs0CompensationFromOtherSrcsInd

Contractor Compensation ContractorCompensationGrp (2 entries)

Address Line1ContractorAddress/USAddress/AddressLine1TxtCityContractorAddress/USAddress/CityNmState AbbreviationContractorAddress/USAddress/StateAbbreviationCdZIPContractorAddress/USAddress/ZIPCdServicesServicesDescCompensationCompensationAmt
DAVEY RESOURCE GROUP
295 S WATER STREET SUITE 300KENTOH44240GIS MAPPING$171,847
SBS INSPECTIONS
404 NORTH 4TH STREETOLATHECO81425POLE TESTING$137,832
FieldValueIRS element (for citing)
Cntrct Rcvd Greater Than100 K2CntrctRcvdGreaterThan100KCnt

Program Service Revenue ProgramServiceRevenueGrp (2 entries)

DescDescBusinessBusinessCdTotal Revenue ColumnTotalRevenueColumnAmtRelated Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt
ELECTRIC REVENUE221000$12,369,422$12,369,422
MISC PROGRAM REVENUE900099$72,093$72,093
FieldValueIRS element (for citing)
Total Program Service Revenue$12,441,515TotalProgramServiceRevenueAmt

Investment Income InvestmentIncomeGrp

FieldValueIRS element (for citing)
Total Revenue Column$61,549TotalRevenueColumnAmt
Exclusion$61,549ExclusionAmt

Gross Amount Sales Assets GrossAmountSalesAssetsGrp

FieldValueIRS element (for citing)
Other$37,500OtherAmt

Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp

FieldValueIRS element (for citing)
Other$4,500OtherAmt

Gain Or Loss GainOrLossGrp

FieldValueIRS element (for citing)
Other$33,000OtherAmt

Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp

FieldValueIRS element (for citing)
Total Revenue Column$33,000TotalRevenueColumnAmt
Exclusion$33,000ExclusionAmt
FieldValueIRS element (for citing)
Gross Sales Of Inventory$128,017GrossSalesOfInventoryAmt
Cost Of Goods Sold$102,880CostOfGoodsSoldAmt

Net Income Or Loss NetIncomeOrLossGrp

FieldValueIRS element (for citing)
Total Revenue Column$25,137TotalRevenueColumnAmt
Related Or Exempt Func Income$16,566RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue$8,571UnrelatedBusinessRevenueAmt

Other Revenue Misc OtherRevenueMiscGrp (2 entries)

DescDescBusinessBusinessCdTotal Revenue ColumnTotalRevenueColumnAmtRelated Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt
CAPITAL CREDITS523000$625,673$625,673
MISCELLANEOUS REVENUE900099$3,080$3,080
FieldValueIRS element (for citing)
Other Revenue Total$628,753OtherRevenueTotalAmt

Total Revenue TotalRevenueGrp

FieldValueIRS element (for citing)
Total Revenue Column$13,189,954TotalRevenueColumnAmt
Related Or Exempt Func Income$13,086,834RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue$8,571UnrelatedBusinessRevenueAmt
Exclusion$94,549ExclusionAmt

Benefits To Members BenefitsToMembersGrp

FieldValueIRS element (for citing)
Total$324,500TotalAmt

Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp

FieldValueIRS element (for citing)
Total$256,249TotalAmt

Interest InterestGrp

FieldValueIRS element (for citing)
Total$798,518TotalAmt

Depreciation Depletion DepreciationDepletionGrp

FieldValueIRS element (for citing)
Total$1,368,812TotalAmt

Other Expenses OtherExpensesGrp (4 entries)

DescDescTotalTotalAmt
COST OF POWER$6,688,924
DISTRIBUTION EXPENSE -$1,061,310
DISTRIBUTION EXPENSE -$826,873
ADMINISTRATIVE AND GENE$685,142

All Other Expenses AllOtherExpensesGrp

FieldValueIRS element (for citing)
Total$608,889TotalAmt

Total Functional Expenses TotalFunctionalExpensesGrp

FieldValueIRS element (for citing)
Total$12,619,217TotalAmt

Cash Non Interest Bearing CashNonInterestBearingGrp

FieldValueIRS element (for citing)
BOY$67,675BOYAmt
EOY$83,362EOYAmt

Savings And Temp Cash Invst SavingsAndTempCashInvstGrp

FieldValueIRS element (for citing)
BOY$78,182BOYAmt
EOY$148,472EOYAmt

Accounts Receivable AccountsReceivableGrp

FieldValueIRS element (for citing)
BOY$1,537,534BOYAmt
EOY$1,247,268EOYAmt

Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp

FieldValueIRS element (for citing)
BOY$755,101BOYAmt
EOY$662,182EOYAmt

Inventories For Sale Or Use InventoriesForSaleOrUseGrp

FieldValueIRS element (for citing)
BOY$1,361,172BOYAmt
EOY$1,292,183EOYAmt

Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp

FieldValueIRS element (for citing)
BOY$90,855BOYAmt
EOY$1,015,965EOYAmt
FieldValueIRS element (for citing)
Land Bldg Equip Cost Or Other Bss$54,333,154LandBldgEquipCostOrOtherBssAmt
Land Bldg Equip Accum Deprec$18,579,838LandBldgEquipAccumDeprecAmt

Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp

FieldValueIRS element (for citing)
BOY$34,772,446BOYAmt
EOY$35,753,316EOYAmt

Investments Program Related InvestmentsProgramRelatedGrp

FieldValueIRS element (for citing)
BOY$3,365,603BOYAmt
EOY$3,614,377EOYAmt

Other Assets Total OtherAssetsTotalGrp

FieldValueIRS element (for citing)
BOY$561,363BOYAmt
EOY$668,564EOYAmt

Total Assets TotalAssetsGrp

FieldValueIRS element (for citing)
BOY$42,589,931BOYAmt
EOY$44,485,689EOYAmt

Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp

FieldValueIRS element (for citing)
BOY$2,027,232BOYAmt
EOY$1,448,505EOYAmt

Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp

FieldValueIRS element (for citing)
BOY$21,616,901BOYAmt
EOY$23,589,266EOYAmt

Other Liabilities OtherLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$337,822BOYAmt
EOY$325,173EOYAmt

Total Liabilities TotalLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$23,981,955BOYAmt
EOY$25,362,944EOYAmt
FieldValueIRS element (for citing)
Org Does Not Follow FASB117Yes (X)OrgDoesNotFollowFASB117Ind

Cap Stk Tr Prin Current Funds CapStkTrPrinCurrentFundsGrp

FieldValueIRS element (for citing)
BOY$0BOYAmt
EOY$0EOYAmt

Pd In Cap Srpls Land Bldg Eqp Fund PdInCapSrplsLandBldgEqpFundGrp

FieldValueIRS element (for citing)
BOY$0BOYAmt
EOY$0EOYAmt

Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp

FieldValueIRS element (for citing)
BOY$18,607,976BOYAmt
EOY$19,122,745EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$18,607,976BOYAmt
EOY$19,122,745EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$42,589,931BOYAmt
EOY$44,485,689EOYAmt
FieldValueIRS element (for citing)
Info In Schedule O Part XIYes (X)InfoInScheduleOPartXIInd
Reconcilation Revenue Expnss$570,737ReconcilationRevenueExpnssAmt
Other Changes In Net Assets-$55,968OtherChangesInNetAssetsAmt
Method Of Accounting AccrualYes (X)MethodOfAccountingAccrualInd
Accountant Compile Or Review0AccountantCompileOrReviewInd
FS AuditedYes (1)FSAuditedInd

FS Audited Basis FSAuditedBasisGrp

FieldValueIRS element (for citing)
Separate Basis Fincl StmtYes (X)SeparateBasisFinclStmtInd
FieldValueIRS element (for citing)
Audit CommitteeYes (1)AuditCommitteeInd
Federal Grant Audit Required0FederalGrantAuditRequiredInd

Schedule D IRS990ScheduleD

Land LandGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$119,082OtherCostOrOtherBasisAmt
Book Value$119,082BookValueAmt

Buildings BuildingsGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$1,212,090OtherCostOrOtherBasisAmt
Depreciation$862,565DepreciationAmt
Book Value$349,525BookValueAmt

Equipment EquipmentGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$4,555,391OtherCostOrOtherBasisAmt
Depreciation$2,778,797DepreciationAmt
Book Value$1,776,594BookValueAmt

Other Land Buildings OtherLandBuildingsGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$48,446,591OtherCostOrOtherBasisAmt
Depreciation$14,938,476DepreciationAmt
Book Value$33,508,115BookValueAmt
FieldValueIRS element (for citing)
Total Book Value Land Buildings$35,753,316TotalBookValueLandBuildingsAmt

Invst Program Related Org InvstProgramRelatedOrgGrp (3 entries)

DescDescBook ValueBookValueAmtMethod ValuationMethodValuationCd
PATRONAGE CAPITAL IN ASSOCIATED ORGANIZATION$3,058,082C
MEMBERSHIPS IN ASSOCIATED ORGANIZATIONS$6,270C
CAPITAL TERM CERTIFICATES$550,025C
FieldValueIRS element (for citing)
Total Book Value Program Rltd$3,614,377TotalBookValueProgramRltdAmt

Other Liabilities Org OtherLiabilitiesOrgGrp (2 entries)

DescDescAmtAmt
CONSUMER DEPOSITS$114,330
DEFERRED CREDITS$210,843
FieldValueIRS element (for citing)
Total Liability$325,173TotalLiabilityAmt
Footnote TextYes (X)FootnoteTextInd
Total Rev Etc Audited Fincl Stmt$13,189,954TotalRevEtcAuditedFinclStmtAmt
Revenue Not Reported$0RevenueNotReportedAmt
Revenue Subtotal$13,189,954RevenueSubtotalAmt
Revenue Not Reported Fincl Stmt$0RevenueNotReportedFinclStmtAmt
Total Revenue Per Form990$13,189,954TotalRevenuePerForm990Amt
Tot Expns Etc Audited Fincl Stmt$12,294,717TotExpnsEtcAuditedFinclStmtAmt
Expenses Not Reported$0ExpensesNotReportedAmt
Expenses Subtotal$12,294,717ExpensesSubtotalAmt
Other Expenses Not Included$324,500OtherExpensesNotIncludedAmt
Expenses Not Rpt Fincl Stmt$324,500ExpensesNotRptFinclStmtAmt
Total Expenses Per Form990$12,619,217TotalExpensesPerForm990Amt

Supplemental Information Detail SupplementalInformationDetail (2 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
PART X, LINE 2:THE COOPERATIVE IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(12) OF THE INTERNAL REVENUE CODE. ACCORDINGLY, NO PROVISION FOR INCOME TAXES HAS BEEN RECORDED AT DECEMBER 31, 2023 AND 2022. THE COOPERATIVE HAS EVALUATED ITS TAX POSITIONS AND DETERMINED THAT IT HAS NO UNCERTAIN TAX POSITIONS AS OF DECEMBER 31, 2023 AND 2022.
PART XII, LINE 4B - OTHER ADJUSTMENTS:PATRONAGE DIVIDENDS ALLOCATED 324,500.

Schedule J IRS990ScheduleJ

FieldValueIRS element (for citing)
Travel For CompanionsYes (X)TravelForCompanionsInd
Written Policy Ref T And E ExpnssYes (1)WrittenPolicyRefTAndEExpnssInd
Substantiation RequiredYes (1)SubstantiationRequiredInd
Compensation SurveyYes (X)CompensationSurveyInd
Board Or Committee ApprovalYes (X)BoardOrCommitteeApprovalInd
Severance Payment0SeverancePaymentInd
Supplemental Nonqual Rtr Plan0SupplementalNonqualRtrPlanInd
Equity Based Comp Arrngm0EquityBasedCompArrngmInd

Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp

FieldValueIRS element (for citing)
PersonPHIL KINSERPersonNm
TitleCEO/GENERAL MANAGERTitleTxt
Base Compensation Filing Org$175,769BaseCompensationFilingOrgAmt
Compensation Based On Rltd Orgs$0CompensationBasedOnRltdOrgsAmt
Bonus Filing Organization$0BonusFilingOrganizationAmount
Bonus Related Organizations$0BonusRelatedOrganizationsAmt
Other Compensation Filing Org$0OtherCompensationFilingOrgAmt
Other Compensation Rltd Orgs$0OtherCompensationRltdOrgsAmt
Deferred Compensation Flng Org$0DeferredCompensationFlngOrgAmt
Deferred Comp Rltd Orgs$0DeferredCompRltdOrgsAmt
Nontaxable Benefits Filing Org$36,105NontaxableBenefitsFilingOrgAmt
Nontaxable Benefits Rltd Orgs$0NontaxableBenefitsRltdOrgsAmt
Total Compensation Filing Org$211,874TotalCompensationFilingOrgAmt
Total Compensation Rltd Orgs$0TotalCompensationRltdOrgsAmt
Comp Report Prior990 Filing Org$0CompReportPrior990FilingOrgAmt
Comp Report Prior990 Rltd Orgs$0CompReportPrior990RltdOrgsAmt

Supplemental Information Detail SupplementalInformationDetail (2 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
PART I, LINE 1ATHE CEO'S WIFE SOMETIMES ACCOMPANIES HIM ON BUSINESS TRAVEL. THE COOPERATIVE COVERS HER TRAVEL EXPENSES. NO ADDITIONAL EXPENSES WERE INCURRED IN 2023 AS A RESULT OF THIS ARRANGEMENT.
PART I, LINE 3THE CEO'S COMPENSATION IS REVIEWED ANNUALLY BY THE GOVERNING BOARD OF DIRECTORS. THIS PROCESS INCLUDES USING COMPARABILITY DATA OF SIMILAR POSITIONS IN THE ELECTRIC INDUSTRY, AS WELL AS OTHER INDUSTRIES.

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (9 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
FORM 990, PART VI, SECTION A, LINE 6ANY INDIVIDUAL ACTING FOR HIMSELF OR AS AN ACCREDITED REPRESENTATIVE OF AN ASSOCIATION, CORPORATION, PARTNERSHIP, OR ORGANIZATION, AND WHO CUSTOMARILY USES THE SERVICES RENDERED BY SOUTHWEST IOWA REC, MAY BECOME A MEMBER OF SOUTHWEST IOWA REC. ALL MEMBERS ARE CONSIDERED AS ONE CLASS; HOWEVER, FOR REVENUE CLASSIFICATION PURPOSES, CLASSES ARE DEFINED AS RESIDENTIAL, SMALL COMMERCIAL, LARGE COMMERCIAL, PUBLIC AUTHORITY AND RESALE.
FORM 990, PART VI, SECTION A, LINE 7AALL COOPERATIVE MEMBERS (ALL CONSIDERED ONE CLASS) ARE ENTITLED TO CAST ONE VOTE FOR EACH DIRECTOR THAT HAS BEEN NOMINATED TO SERVE ON THE GOVERNING BOARD OF SOUTHWEST IOWA REC. CANDIDATES FOR ELECTION ON THE BOARD OF DIRECTORS ARE NOMINATED BY A NOMINATING COMMITTEE, WHICH COMMITTEE IS ELECTED BY THE BOARD. THERE IS A PROCESS INCLUDED IN THE ARTICLES OF INCORPORATION AND BY-LAWS THAT PROVIDE FOR NOMINATION BY PETITION, WHEREBY 20 PEOPLE CAN PLACE ANY QUALIFIED PERSON ON THE BALLOT FOR ELECTION. THE ELECTION IS HELD AT THE ANNUAL MEETING OF MEMBERS. THE COOPERATIVE IS MADE UP OF TWO REGIONS AND EACH VOTING MEMBER IS ENTITLED TO CAST ONE VOTE FOR EACH DIRECTOR TO BE ELECTED FROM THE MEMBER'S REGION.
FORM 990, PART VI, SECTION A, LINE 7BSOME DECISIONS OF THE GOVERNING BOARD ARE SUBJECT TO THE MEMBERS' APPROVAL AS FOLLOWS: SALE OF CERTAIN ASSETS; CONSOLIDATION OF ASSETS. MEMBERS MAY ALSO: CONTROL THE DISPOSITION OF REVENUE AND RECEIPTS; ALTER, AMEND OR REPEAL BY-LAWS BY A VOTE OF 75% OF THE MEMBERS PRESENT OR REPRESENTED. EACH MEMBER IS ENTITLED TO ONE VOTE. THE ARTICLES OF INCORPORATION MAY ONLY BE CHANGED BY THE MEMBERS.
FORM 990, PART VI, SECTION A, LINE 8BTHE COOPERATIVE DOES NOT HAVE COMMITTEES WITH BROAD AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY.
FORM 990, PART VI, SECTION B, LINE 11BA COPY OF THE PREPARED FORM 990, INCLUDING ANY APPLICABLE SCHEDULES AND ATTACHMENTS, IS PROVIDED TO ALL OF THE MEMBERS OF THE BOARD OF DIRECTORS FOR THEIR REVIEW AT A BOARD MEETING PRIOR TO SUBMITTING THE FORM 990 TO THE IRS.
FORM 990, PART VI, SECTION B, LINE 12CANNUALLY, AND OTHERWISE UPON THE SEATING OF ANY NEW BOARD MEMBER, A DISCLOSURE OF CONFLICT OF INTEREST STATEMENT WILL BE SIGNED BY EACH DIRECTOR AND THE CEO/GENERAL MANAGER. IT IS THE RESPONSIBILITY OF THE BOARD PRESIDENT TO ADDRESS ANY CONFLICTS OF INTEREST AND TO TAKE APPROPRIATE ACTION IF ANYONE HAS BEEN DEEMED NOT ADHERING TO THIS POLICY. SUCH ACTION MAY INCLUDE BEING RECUSED FROM DISCUSSION AND VOTE.
FORM 990, PART VI, SECTION B, LINE 15ATHE CEO'S COMPENSATION IS REVIEWED ANNUALLY BY THE GOVERNING BOARD OF DIRECTORS. THIS PROCESS INCLUDES USING COMPARABILITY DATA OF SIMILAR POSITIONS IN THE ELECTRIC INDUSTRY, AS WELL AS OTHER INDUSTRIES. THE PROCESS DESCRIBED HERE WAS LAST COMPLETED IN 2023.
FORM 990, PART VI, SECTION C, LINE 19SOUTHWEST IOWA REC MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC BY PROVIDING COPIES UPON REQUEST.
FORM 990, PART XI, LINE 9:PATRONAGE DIVIDENDS ALLOCATED 324,500. RETIREMENT OF CAPITAL CREDITS -369,815. CHANGES IN OTHER EQUITIES -10,653.

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