SOUTHWEST IOWA REC: Form 990, tax year 2022

View the entire original 990 at ProPublica ↗

Organization
SOUTHWEST IOWA REC (EIN 20-0538386)
Tax period
2022-01-01 to 2022-12-31
Filed
2023-06-13
IRS object ID
202321649349300127
Schema version
2022v5.0
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)
Return2023-06-13T09:30:01-05:00ReturnTs
Tax Period End2022-12-31TaxPeriodEndDt

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 Begin2022-01-01TaxPeriodBeginDt

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
Signature2023-05-26SignatureDt
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 Curr0IRSResponsiblePrtyInfoCurrInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonKATHERINE LUTZKE CPAPreparerPersonNm
PTINP01760889PTIN
Phone5072802300PhoneNum
Preparation2023-05-26PreparationDt

Additional Filer Information AdditionalFilerInformation

Trusted Customer TrustedCustomerGrp

FieldValueIRS element (for citing)
Trusted Customer2TrustedCustomerCd
Authentication Assurance LevelAAL1AuthenticationAssuranceLevelCd
Identity Assurance LevelIAL1IdentityAssuranceLevelCd
FieldValueIRS element (for citing)
Tax2022TaxYr
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$13,386,877GrossReceiptsAmt
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$8,694TotalGrossUBIAmt
Net Unrelated Bus Txbl Incm$0NetUnrelatedBusTxblIncmAmt
PY Contributions Grants$524,793PYContributionsGrantsAmt
CY Contributions Grants$0CYContributionsGrantsAmt
PY Program Service Revenue$12,217,255PYProgramServiceRevenueAmt
CY Program Service Revenue$12,808,231CYProgramServiceRevenueAmt
PY Investment Income$86,407PYInvestmentIncomeAmt
CY Investment Income$110,942CYInvestmentIncomeAmt
PY Other Revenue$36,964PYOtherRevenueAmt
CY Other Revenue$331,183CYOtherRevenueAmt
PY Total Revenue$12,865,419PYTotalRevenueAmt
CY Total Revenue$13,250,356CYTotalRevenueAmt
PY Grants And Similar Paid$6,904PYGrantsAndSimilarPaidAmt
CY Grants And Similar Paid$0CYGrantsAndSimilarPaidAmt
PY Benefits Paid To Members$1,243,395PYBenefitsPaidToMembersAmt
CY Benefits Paid To Members$303,184CYBenefitsPaidToMembersAmt
PY Salaries Comp Emp Bnft Paid$2,082,380PYSalariesCompEmpBnftPaidAmt
CY Salaries Comp Emp Bnft Paid$238,228CYSalariesCompEmpBnftPaidAmt
PY Total Prof Fndrsng Expns$0PYTotalProfFndrsngExpnsAmt
CY Total Prof Fndrsng Expns$0CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense$0CYTotalFundraisingExpenseAmt
PY Other Expenses$9,532,740PYOtherExpensesAmt
CY Other Expenses$12,453,668CYOtherExpensesAmt
PY Total Expenses$12,865,419PYTotalExpensesAmt
CY Total Expenses$12,995,080CYTotalExpensesAmt
PY Revenues Less Expenses$0PYRevenuesLessExpensesAmt
CY Revenues Less Expenses$255,276CYRevenuesLessExpensesAmt
Total Assets BOY$40,599,568TotalAssetsBOYAmt
Total Assets EOY$42,589,931TotalAssetsEOYAmt
Total Liabilities BOY$22,176,584TotalLiabilitiesBOYAmt
Total Liabilities EOY$23,981,955TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY$18,422,984NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY$18,607,976NetAssetsOrFundBalancesEOYAmt
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 DISTRIBUTE ELECTRIC ENERGY TO 6,028 MEMBER-CONSUMERS OF RURAL RESIDENTIAL, SMALL COMMERCIAL, LARGE POWER AND PUBLIC AUTHORITY USERS IN A MANNER CONSISTENT WITH SOUND BUSINESS PRACTICES. WE INSTALLED 66 NEW SERVICES AND RETIRED 60 SERVICES. WE ADDED 19.52 MILES OF OVERHEAD LINE AND RETIRED 18.14 MILES OF OVERHEAD LINE. WE INSTALLED 1.77 MILES OF UNDERGROUND LINE AND RETIRED 0.12 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 Document35IRPDocumentCnt
IRP Document W2 G0IRPDocumentW2GCnt
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$13,291,132MembersAndShrGrossIncomeAmt
Other Sources Gross Income$149,461OtherSourcesGrossIncomeAmt
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 (11 entries)

TitleTitleTxtAverage Hours Per WeekAverageHoursPerWeekRtOfficerOfficerIndReportable Comp From OrgReportableCompFromOrgAmtReportable Comp From Rltd OrgReportableCompFromRltdOrgAmtOther CompensationOtherCompensationAmtIndividual Trustee Or DirectorIndividualTrusteeOrDirectorInd
PHIL KINSER
CEO/GENERAL MANAGER40.00Yes (X)$168,407$0$33,846
MARILYN WERNER
PRESIDENT6.02Yes (X)$6,975$0$0Yes (X)
MARK HERZBERG
VICE PRESIDENT3.83Yes (X)$3,200$0$0Yes (X)
KAY FAST
TREASURER2.83Yes (X)$5,000$0$0Yes (X)
KEN PEPPMEIER
SECRETARY3.15Yes (X)$3,800$0$0Yes (X)
DEENA MOORE
DIRECTOR4.89$3,400$0$0Yes (X)
DANA MORGAN
DIRECTOR1.79$3,000$0$0Yes (X)
DALE WALKUP
DIRECTOR2.42$3,600$0$0Yes (X)
JASON SMITH
DIRECTOR2.33$3,200$0$0Yes (X)
TERRY BARNES
DIRECTOR2.63$2,800$0$0Yes (X)
ALAN SPENCER
DIRECTOR1.62$1,000$0$0Yes (X)
FieldValueIRS element (for citing)
Total Reportable Comp From Org$204,382TotalReportableCompFromOrgAmt
Tot Reportable Comp Rltd Org$0TotReportableCompRltdOrgAmt
Total Other Compensation$33,846TotalOtherCompensationAmt
Indiv Rcvd Greater Than100 K1IndivRcvdGreaterThan100KCnt
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 ST STE 300KENTOH44240GIS MAPPING$509,256
SBS INSPECTIONS INC
404 N 4TH STOLATHECO81425POLE TESTING$134,043
FieldValueIRS element (for citing)
Cntrct Rcvd Greater Than100 K2CntrctRcvdGreaterThan100KCnt

Program Service Revenue ProgramServiceRevenueGrp (2 entries)

DescDescBusinessBusinessCdTotal Revenue ColumnTotalRevenueColumnAmtRelated Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt
ELECTRIC REVENUE221000$12,733,157$12,733,157
MISC PROGRAM REVENUE900099$75,074$75,074
FieldValueIRS element (for citing)
Total Program Service Revenue$12,808,231TotalProgramServiceRevenueAmt

Investment Income InvestmentIncomeGrp

FieldValueIRS element (for citing)
Total Revenue Column$57,378TotalRevenueColumnAmt
Exclusion$57,378ExclusionAmt

Gross Amount Sales Assets GrossAmountSalesAssetsGrp

FieldValueIRS element (for citing)
Other$79,500OtherAmt

Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp

FieldValueIRS element (for citing)
Other$25,936OtherAmt

Gain Or Loss GainOrLossGrp

FieldValueIRS element (for citing)
Other$53,564OtherAmt

Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp

FieldValueIRS element (for citing)
Total Revenue Column$53,564TotalRevenueColumnAmt
Exclusion$53,564ExclusionAmt
FieldValueIRS element (for citing)
Gross Sales Of Inventory$141,666GrossSalesOfInventoryAmt
Cost Of Goods Sold$110,585CostOfGoodsSoldAmt

Net Income Or Loss NetIncomeOrLossGrp

FieldValueIRS element (for citing)
Total Revenue Column$31,081TotalRevenueColumnAmt
Related Or Exempt Func Income$22,387RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue$8,694UnrelatedBusinessRevenueAmt

Other Revenue Misc OtherRevenueMiscGrp (2 entries)

DescDescBusinessBusinessCdTotal Revenue ColumnTotalRevenueColumnAmtRelated Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt
CAPITAL CREDITS523000$297,020$297,020
MISCELLANEOUS REVENUE900099$3,082$3,082
FieldValueIRS element (for citing)
Other Revenue Total$300,102OtherRevenueTotalAmt

Total Revenue TotalRevenueGrp

FieldValueIRS element (for citing)
Total Revenue Column$13,250,356TotalRevenueColumnAmt
Related Or Exempt Func Income$13,130,720RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue$8,694UnrelatedBusinessRevenueAmt
Exclusion$110,942ExclusionAmt

Benefits To Members BenefitsToMembersGrp

FieldValueIRS element (for citing)
Total$303,184TotalAmt

Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp

FieldValueIRS element (for citing)
Total$238,228TotalAmt

Interest InterestGrp

FieldValueIRS element (for citing)
Total$739,283TotalAmt

Depreciation Depletion DepreciationDepletionGrp

FieldValueIRS element (for citing)
Total$1,335,197TotalAmt

Other Expenses OtherExpensesGrp (4 entries)

DescDescTotalTotalAmt
COST OF POWER$7,015,755
DISTRIBUTION EXPENSE -$1,278,406
DISTRIBUTION EXPENSE -$793,084
ADMINISTRATIVE AND GENE$678,450

All Other Expenses AllOtherExpensesGrp

FieldValueIRS element (for citing)
Total$613,493TotalAmt

Total Functional Expenses TotalFunctionalExpensesGrp

FieldValueIRS element (for citing)
Total$12,995,080TotalAmt

Cash Non Interest Bearing CashNonInterestBearingGrp

FieldValueIRS element (for citing)
BOY$50,305BOYAmt
EOY$67,675EOYAmt

Savings And Temp Cash Invst SavingsAndTempCashInvstGrp

FieldValueIRS element (for citing)
BOY$954,788BOYAmt
EOY$78,182EOYAmt

Accounts Receivable AccountsReceivableGrp

FieldValueIRS element (for citing)
BOY$1,208,377BOYAmt
EOY$1,537,534EOYAmt

Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp

FieldValueIRS element (for citing)
BOY$834,948BOYAmt
EOY$755,101EOYAmt

Inventories For Sale Or Use InventoriesForSaleOrUseGrp

FieldValueIRS element (for citing)
BOY$617,685BOYAmt
EOY$1,361,172EOYAmt

Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp

FieldValueIRS element (for citing)
BOY$117,154BOYAmt
EOY$90,855EOYAmt
FieldValueIRS element (for citing)
Land Bldg Equip Cost Or Other Bss$52,634,721LandBldgEquipCostOrOtherBssAmt
Land Bldg Equip Accum Deprec$17,862,275LandBldgEquipAccumDeprecAmt

Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp

FieldValueIRS element (for citing)
BOY$32,887,186BOYAmt
EOY$34,772,446EOYAmt

Investments Program Related InvestmentsProgramRelatedGrp

FieldValueIRS element (for citing)
BOY$3,459,071BOYAmt
EOY$3,365,603EOYAmt

Other Assets Total OtherAssetsTotalGrp

FieldValueIRS element (for citing)
BOY$470,054BOYAmt
EOY$561,363EOYAmt

Total Assets TotalAssetsGrp

FieldValueIRS element (for citing)
BOY$40,599,568BOYAmt
EOY$42,589,931EOYAmt

Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp

FieldValueIRS element (for citing)
BOY$1,519,045BOYAmt
EOY$2,027,232EOYAmt

Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp

FieldValueIRS element (for citing)
BOY$20,394,838BOYAmt
EOY$21,616,901EOYAmt

Other Liabilities OtherLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$262,701BOYAmt
EOY$337,822EOYAmt

Total Liabilities TotalLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$22,176,584BOYAmt
EOY$23,981,955EOYAmt
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$18,422,984BOYAmt
EOY$18,607,976EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$18,422,984BOYAmt
EOY$18,607,976EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$40,599,568BOYAmt
EOY$42,589,931EOYAmt
FieldValueIRS element (for citing)
Info In Schedule O Part XIYes (X)InfoInScheduleOPartXIInd
Reconcilation Revenue Expnss$255,276ReconcilationRevenueExpnssAmt
Other Changes In Net Assets-$70,284OtherChangesInNetAssetsAmt
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$1,219,183OtherCostOrOtherBasisAmt
Depreciation$828,615DepreciationAmt
Book Value$390,568BookValueAmt

Equipment EquipmentGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$4,281,095OtherCostOrOtherBasisAmt
Depreciation$2,686,807DepreciationAmt
Book Value$1,594,288BookValueAmt

Other Land Buildings OtherLandBuildingsGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$47,015,361OtherCostOrOtherBasisAmt
Depreciation$14,346,853DepreciationAmt
Book Value$32,668,508BookValueAmt
FieldValueIRS element (for citing)
Total Book Value Land Buildings$34,772,446TotalBookValueLandBuildingsAmt

Invst Program Related Org InvstProgramRelatedOrgGrp (3 entries)

DescDescBook ValueBookValueAmtMethod ValuationMethodValuationCd
PATRONAGE CAPITAL IN ASSOCIATED ORGANIZATION$2,809,093C
MEMBERSHIPS IN ASSOCIATED ORGANIZATIONS$6,270C
CAPITAL TERM CERTIFICATES$550,240C
FieldValueIRS element (for citing)
Total Book Value Program Rltd$3,365,603TotalBookValueProgramRltdAmt

Other Liabilities Org OtherLiabilitiesOrgGrp (2 entries)

DescDescAmtAmt
CONSUMER DEPOSITS$119,718
DEFERRED CREDITS$218,104
FieldValueIRS element (for citing)
Total Liability$337,822TotalLiabilityAmt
Footnote TextYes (X)FootnoteTextInd
Total Rev Etc Audited Fincl Stmt$13,250,356TotalRevEtcAuditedFinclStmtAmt
Revenue Not Reported$0RevenueNotReportedAmt
Revenue Subtotal$13,250,356RevenueSubtotalAmt
Revenue Not Reported Fincl Stmt$0RevenueNotReportedFinclStmtAmt
Total Revenue Per Form990$13,250,356TotalRevenuePerForm990Amt
Tot Expns Etc Audited Fincl Stmt$12,691,896TotExpnsEtcAuditedFinclStmtAmt
Expenses Not Reported$0ExpensesNotReportedAmt
Expenses Subtotal$12,691,896ExpensesSubtotalAmt
Other Expenses Not Included$303,184OtherExpensesNotIncludedAmt
Expenses Not Rpt Fincl Stmt$303,184ExpensesNotRptFinclStmtAmt
Total Expenses Per Form990$12,995,080TotalExpensesPerForm990Amt

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, 2022 AND 2021. THE COOPERATIVE HAS EVALUATED ITS TAX POSITIONS AND DETERMINED THAT IT HAS NO UNCERTAIN TAX POSITIONS AS OF DECEMBER 31, 2022 AND 2021.
PART XII, LINE 4B - OTHER ADJUSTMENTS:PATRONAGE DIVIDENDS ALLOCATED 303,184.

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$168,407BaseCompensationFilingOrgAmt
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$11,358DeferredCompensationFlngOrgAmt
Deferred Comp Rltd Orgs$0DeferredCompRltdOrgsAmt
Nontaxable Benefits Filing Org$22,488NontaxableBenefitsFilingOrgAmt
Nontaxable Benefits Rltd Orgs$0NontaxableBenefitsRltdOrgsAmt
Total Compensation Filing Org$202,253TotalCompensationFilingOrgAmt
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 2022 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 2022
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 303,184. RETIREMENT OF CAPITAL CREDITS -362,904. CHANGES IN OTHER EQUITIES -10,564.

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