2011-07-15T14:38:15-05:00 2010-12-31 CLIFTON GUNDERSON LLP 1715 1ST AVENUE SE CEDAR RAPIDS IA 52402 990 2010-01-01 421445092 EAST-CENTRAL IOWA RURAL ELECTRIC COOPERATIVE EAST 3194434355 PO BOX 248 URBANA IA 52345 HARRY RUTH 3194434355 2011-05-10 1 WILLIAM E MURRAY 3193632697 2010 2016-02-24 21:20:13Z HARRY RUTH PO BOX 248 URBANA IA 52345 21632632 0 X WWW.ECIREC.COM X 1995 IA EAST-CENTRAL IOWA RURAL ELECTRIC COOPERATIVE PROVIDES ELECTRIC ENERGY SERVICE TO APPROXIMATELY 6,483 MEMBERS TO PARTS OF 10 COUNTIES IN EAST-CENTRAL IOWA. ITS PRIMARY MISSION IS TO PROVIDE THE BEST POSSIBLE SERVICE TO ITS MEMBERS FOR THE LOWEST POSSIBLE COST. 10 10 37 0 0 0 0 0 20458709 20570938 38782 62276 381857 596039 20879348 21229253 0 0 0 0 227558 243332 0 0 0 19384988 19317372 19612546 19560704 1266802 1668549 45156016 47037425 23448718 24238344 21707298 22799081 THE COOPERATIVE'S PRIMARY MISSION IS TO PROVIDE THE BEST POSSIBLE ELECTRICAL SERVICE TO ITS MEMBERS AT THE LOWEST POSSIBLE COST. 0 0 PROVISION OF ELECTRICITY AND ELECTRIC SERVICES TO THE COOPERATIVE'S 6,483 MEMBERS. THIS REPRESENTS 99% OF THE TOTAL REVENUE FOR THE COOPERATIVE FOR 2010. 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 19 0 37 1 0 0 0 0 0 20570938 966652 0 X 10 10 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 1 0 X HARRY RUTH 3194434355 2400 BING MILLER LANE URBANA IA 52345 RYAN KRESS 2.40 X 0 0 6750 WILLIAM FRAZIER 2.60 X 0 0 5065 LLOYD BATHEN 3.50 X 0 0 7230 BURT BYERS 4.00 X 0 0 5550 JUDITH FINGER 4.10 X 0 0 8415 JEFF ELLIOTT 4.40 X 0 0 6990 DONALD SHONKA 5.00 X X 0 0 9880 STEVE RAU 4.20 X X 0 0 8430 JIM ALBERTS 4.60 X X 0 0 7470 ALLEN ALBERS 2.20 X X 0 0 4345 HARRY RUTH 41.00 X 150591 0 22616 150591 0 92741 1 0 1 0 HIGHLINE CONSTRUCTION INC 16124 OLD LAKE RD PAYNESVILLE MN 56362 DIST LINE REBUILD 140412 PUSH INC PO BOX 72 RICE LAKE WI 54868 BORING/TRENCHING 118542 WEST UNION TRENCHING 10715 HARDING ROAD WEST UNION IA 52175 BORING/TRENCHING 112778 MAURER TREE SERVICE 1203 BAXTER AVE FAIRBANK IA 50629 TREE TRIMMING 101405 4 ELECTRICITY SALES 221000 20570938 20570938 20570938 95042 95042 32766 -32766 -32766 -32766 355497 370613 -15116 -15116 CAPITAL CREDITS 900099 606497 606497 PER DIEM INCOME 900099 4658 4658 611155 21229253 21162319 0 66934 243332 1082007 1363453 COST OF POWER 12579335 DISTRIBUTION OPERATIONS 1798839 ADMIN AND GENERAL 1033302 CONSUMER ACCOUNT EXP 702844 DISTRIBUTION MAINT 569477 188115 19560704 584856 102124 214069 2570183 5302337 3603600 898794 1231956 137024 153959 48283689 13922779 32980435 34360910 4719476 5002437 319025 12256 45156016 47037425 2378350 2377259 20456382 21166779 613986 694306 23448718 24238344 X 0 0 0 0 21707298 22799081 21707298 22799081 45156016 47037425 X 1668549 -576766 X X 0 1 1 X 0 46287104 13922779 32364325 1996585 1996585 34360910 HELD TO MATURITY SECURITIES 868676 C OTHER INVESTMENTS 583073 C ASSOCIATED ORGANIZTIONS 3550688 C 5002437 DEFERRED CREDITS 565546 CUSTOMER DEPOSITS 128760 694306 21229253 19560704 1668549 -576766 -576766 1091783 21205261 0 21205261 23992 23992 21229253 19560704 0 19560704 0 19560704 DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: ON JANUARY 1, 2009, THE COOPERATIVE AND ITS SUBSIDIARY ADOPTED THE FINANCIAL ACCOUNTING STANDARDS BOARD'S NEW ACCOUNTING REQUIREMENTS FOR ACCOUNTING FOR UNCERTAIN TAX POSITIONS. UNDER THESE NEW REQUIREMENTS, A TAX POSITION THAT MEETS THE MORE-LIKELY-THAN-NOT RECOGNITION THRESHOLD IS INITIALLY AND SUBSEQUENTLY MEASURED AS THE LARGEST AMOUNT OF TAX BENEFIT THAT HAS A GREATER THAN 50 PERCENT LIKELIHOOD OF BEING REALIZED UPON SETTLEMENT WITH A TAXING AUTHORITY THAT HAS FULL KNOWLEDGE OF ALL RELEVANT INFORMATION. THE COOPERATIVE AND ITS SUBSIDIARY DETERMINED THAT IT WAS NOT REQUIRED TO RECORD A LIABILITY FOR UNRECOGNIZED TAX BENEFITS AS A RESULT OF IMPLEMENTING THE NEW REQUIREMENTS. PART XI, LINE 8 - OTHER ADJUSTMENTS: EQUITY IN LOSS FROM SUBSIDIARY -23,992. PATRONAGE DIVIDENDS PAID -552,774. PART XII, LINE 4B - OTHER ADJUSTMENTS: LOSS FROM SUBSIDIARY 23,992. X X X 0 0 0 HARRY RUTH 150591 0 0 0 0 0 0 0 22616 0 173207 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 ARTICLE V. MEMBERS SECTION 1. ANY INDIVIDUAL FOR HIMSELF, OR HERSELF, AND ANY PERSON AS THE ACCREDITED AGENT AND REPRESENTATIVE ACTING ON BEHALF OF ANY FIRM, ASSOCIATION, CORPORATION, PARTNERSHIP, OR OTHER ORGANIZATION, MAY BECOME A MEMBER IN THIS COOPERATIVE BY (A) APPLYING FOR A MEMBERSHIP CERTIFICATE IN THE COOPERATIVE, (B) AGREEING TO TAKE, RECEIVE, AND PAY FOR ELECTRIC UTILITY SERVICE FURNISHED BY THE COOPERATIVE AS HEREINAFTER IN SECTION 3 OF THIS ARTICLE SPECIFIED, AND (C) AGREEING TO COMPLY WITH AND TO BE BOUND BY THESE ARTICLES OF INCORPORATION, THE BYLAWS OF THE COOPERATIVE, AND SUCH RULES AND REGULATIONS AS MAY FROM TIME TO TIME BE ADOPTED BY THE BOARD OF DIRECTORS OF THE COOPERATIVE; PROVIDED, HOWEVER, THAT NO INDIVIDUAL, EXCEPT AN INDIVIDUAL ACCEPTED FOR MEMBERSHIP BY THE MEMBERS AT ANY MEETINGS HEREOF OR BECOMING A MEMBER BY VIRTUE OF THE CONSOLIDATION WHICH CREATED EAST-CENTRAL IOWA RURAL ELECTRIC COOPERATIVE, SHALL BECOME A MEMBER OF THE COOPERATIVE UNLESS AND UNTIL ACCEPTED FOR MEMBERSHIP BY THE AFFIRMATIVE VOTE OF NOT LESS THAN A MAJORITY OF THE BOARD OF DIRECTORS. APPLICATIONS FOR MEMBERSHIP MAY BE REJECTED FOR JUST CAUSE. SECTION 2. THE COOPERATIVE SHALL HAVE NO CAPITAL STOCK, BUT MEMBERSHIP IN THE COOPERATIVE SHALL BE EVIDENCED BY A MEMBERSHIP CERTIFICATE. MEMBERSHIP IN THE COOPERATIVE SHALL NOT BE TRANSFERABLE. SECTION 3. EACH MEMBER OF THE COOPERATIVE SHALL, AS SOON AS ELECTRIC ENERGY SHALL BE AVAILABLE, PURCHASE FROM THE COOPERATIVE MONTHLY NOT LESS THAN THE MINIMUM AMOUNT OF ELECTRIC ENERGY WHICH SHALL, FORM TIME TO TIME, BE DETERMINED BY RESOLUTION OF THE BOARD OF DIRECTORS OF THE COOPERATIVE AND SHALL PAY THEREFOR AND FOR ALL ADDITIONAL ELECTRIC ENERGY USED BY SUCH MEMBER, THE PRICE WHICH SHALL, FROM TIME TO TIME, BE FIXED THEREFOR BY RESOLUTION OF THE BOARD OF DIRECTORS. EACH MEMBER SHALL ALSO PAY ALL OBLIGATIONS WHICH MAY, FROM TIME TO TIME, BECOME DUE AND PAYABLE BY SUCH MEMBER TO THE COOPERATIVE AS AND WHEN THE SAME SHALL BECOME DUE AND PAYABLE. EACH MEMBER SHALL COMPLY WITH SUCH RULES AND REGULATIONS AS MAY, FROM TIME TO TIME, BE ADOPTED BY THE BOARD OF DIRECTORS. SECTION 4. THE PRIVATE PROPERTY OF THE MEMBERS OF THE COOPERATIVE SHALL BE EXEMPT FROM EXECUTION FOR THE DEBTS OF THE COOPERATIVE AND NO MEMBER SHALL BE INDIVIDUALLY RESPONSIBLE FOR ANY DEBTS OR LIABILITIES OF THE COOPERATIVE. SECTION 5. NO MEMBER OF THE COOPERATIVE MAY OWN MORE THAN ONE MEMBERSHIP AND EACH MEMBER HOLDING A MEMBERSHIP CERTIFICATE SHALL BE ENTITLED TO ONE VOTE AND NO MORE AT ALL MEETINGS OF THE MEMBERS OF THE COOPERATIVE. IF A HUSBAND AND WIFE HOLD A JOINT MEMBERSHIP TOGETHER, THEY SHALL BE JOINTLY ENTITLED TO ONE VOTE AND NO MORE UPON EACH MATTER SUBMITTED TO A VOTE AT A MEETING OF THE MEMBERS. THE VOTE OF EACH MEMBER OF THE COOPERATIVE SHALL BE CAST IN PERSON AND NOT BY PROXY, PROVIDED, THAT AN ABSENT MEMBER MAY CAST HIS WRITTEN VOTE UPON ANY PROPOSITION OF WHICH HE HAS BEEN PREVIOUSLY NOTIFIED IN WRITING, AND OF WHICH A COPY ACCOMPANIES HIS VOTE. FORM 990, PART VI, SECTION A, LINE 7A SEE EXPLANATION FOR PART VI LINE 6 FORM 990, PART VI, SECTION A, LINE 7B SEE EXPLANATION FOR PART VI LINE 6 FORM 990, PART VI, SECTION B, LINE 11 PRIOR TO THE 990 BEING FILED THE ORGANIZATION'S INDEPENDENT ACCOUNTANT WILL PRESENT THE COMPLETED 990 TO THE GOVERNING BODY. THIS EVENT IS INCLUDED AS AN AGENDA ITEM AND WILL BE NOTED IN THE MINUTES. FORM 990, PART VI, SECTION B, LINE 12C ANNUALLY THE BOARD AND EMPLOYEES WILL COMPLETE A FORM IDENTIFYING ANY POTENTIAL CONFLICTS AND THE POLICY REQUIRES ANY SUCH PERSON TO NOTIFY THE ORGANIZATION OF A POTENTIAL CONFLICT IMMEDIATELY. FORM 990, PART VI, SECTION B, LINE 15 EACH YEAR THE SALARY RANGES IN THE WAGE AND SALARY PLAN WILL BE ADJUSTED TO REFLECT THE WAGES AND SALARIES OF OTHER ELECTRIC COOPERATIVES IN THE IOWA-WISCONSIN-ILLINOIS REGION AS FOUND IN THE LATEST AVAILABLE NATIONAL COMPENSATION SURVEY OF RURAL ELECTRIC DISTRIBUTION SYSTEMS CONDUCTED BY THE NATIONAL RURAL ELECTRIC COOPERATIVE ASSOCIATION. FORM 990, PART VI, SECTION B, LINE 15B: FOR EACH POSITION, THE WEIGHTED AVERAGE LOWEST, MEDIAN, AND THIRD QUARTILE WAGE OR SALARY WILL BE CALCULATED FROM THOSE OF OTHER ELECTRIC COOPERATIVES OF THE SAME SIZE AS EAST-CENTRAL IOWA REC AS DEFINED BY TOTAL UTILITY PLANT, REVENUE, AND NUMBER OF CONSUMERS. FOR POSITIONS IN THE COOPERATIVE THAT HAVE NO COMPARABLE POSITION IN THE NRECA NATIONAL COMPENSATION SURVEY, OTHER COMPARATIVE WAGES AND SALARIES FROM THE LOCAL LABOR AREA WILL BE USED. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENT ARE NOT MADE AVAILABLE TO THE PUBLIC. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: EQUITY IN LOSS FROM SUBSIDIARY -23,992. PATRONAGE DIVIDENDS PAID -552,774. TOTAL TO FORM 990, PART XI, LINE 5: -576,766. FORM 990, PART XI, LINE 2C: THERE WAS NO CHANGE FROM THE PRIOR YEAR. BECCA GROUP INC 2400 BING MILLER LANE URBANA IA 52345 421350925 ECONOMIC DEVELOPMENT IA N/A C -23992 241181 1.00000 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0