2024-08-06T15:04:07-05:00 2023-12-31 450250958 EIDE BAILLY LLP 345 N REID PL STE 400 SIOUX FALLS SD 571037034 990 2023-01-01 420723014 NORTHWEST IOWA POWER COOPERATIVE NORT 7125464141 31002 COUNTY ROAD C38 PO BOX 240 LE MARS IA 510310240 MATTHEW R WASHBURN EXECUTIVE VP & GEN MANAGER 7125464141 2024-08-05 1 1 LAURIE HANSON CPA P00851848 6053391999 2024-08-05 2023 2024-08-08 14:25:15Z MATTHEW R WASHBURN 31002 COUNTY ROAD C38 PO BOX 240 LE MARS IA 510310240 110395836 0 X WWW.NIPCO.COOP X 1949 IA WHOLESALE ELECTRICITY SALES TO ITS MEMBER COOPERATIVES. 7 7 50 0 0 0 0 0 105379757 109367564 126070 254618 634297 773654 106140124 110395836 6282 8235 9192700 6577900 5721592 6190059 0 0 0 90198035 96888730 105118609 109664924 1021515 730912 234022291 258746815 144914665 164503663 89107626 94243152 WHOLESALE ELECTRICITY SALES TO ITS MEMBER COOPERATIVES. 0 0 NIPCO IS A WHOLESALE POWER SUPPLIER TO SIX RURAL ELECTRIC DISTRIBUTION COOPERATIVES AND ONE MUNICIPAL COOPERATIVE COMPRISED OF SIX CITIES. 0 0 0 0 0 0 0 0 0 1 0 1 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 1 88 0 1 50 1 1 1 0 0 0 0 92002601 5002222 0 0 0 X 7 7 0 0 0 0 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 0 X JANE SCHEITLER 7125464141 31002 COUNTY ROAD C38 PO BOX 240 LE MARS IA 510310240 X LOUIS REED PRESIDENT 10.00 X X 21810 0 0 RONALD STEINHOFF VICE PRESIDENT 9.00 X X 14630 0 0 TRENT WILL SECRETARY 7.00 X X 8690 0 0 THOMAS WAGNER TREASURER 6.00 X X 6370 0 0 A JAMES SHARP DIRECTOR (END 03/2023) 6.00 X 2350 0 0 BRYAN GREVE DIRECTOR 8.00 X 10500 0 0 JAMES ELSE DIRECTOR 8.00 X 11880 0 0 BRENDA LUNDERGARD DIRECTOR (BEG 04/2023) 6.00 X 5350 0 0 MATTHEW WASHBURN EXEC. VP & GENERAL MANAGER 43.00 X 286914 0 109381 JANE SCHEITLER CFO 42.00 X 143920 0 53250 JAYME HUBER VP OF ENGINEERING SERVICES 42.00 X 167472 0 54786 STEVE SPIELER CIO 42.00 X 154577 0 45136 MARK NELSON POWER DISPATCHING MANAGER 41.00 X 131901 0 41210 MICHAEL J PERSINGER APPARATUS SERVICES MANAGER 42.00 X 130267 0 55383 THOMAS BERKENPAS TRANSMISSION SUPERINTENDENT 43.00 X 125384 0 51102 CHRISTOPHER LARSON ENGINEER III 42.00 X 121015 0 34274 1343030 0 444522 32 0 1 0 WATTS ELECTRIC COMPANY 13351 DOVERS ST WAVERLY NE 68462 TRANSMISSION LINE CONSTRUCTION 8649266 L&L BUILDERS CO 2205 EAST 4TH ST SIOUX CITY IA 51102 OUTPOST BUILDING CONSTRUCTION 1314625 HK SCHOLZ CO 7800 SERUM AVE RALSTON NE 68127 SWITCH STATION CONSTRUCTION 815520 CARDIS MFG CO INC 101 GRANDY DRIVE 1 SIOUX CITY IA 51106 INSTALL FENCING 199992 N&M POWER COMPANY PO BOX 644 BROKEN BOW NE 68822 SUBSTATION CONSTRUCTION 137184 7 SALE OF POWER 221000 89230163 89230163 RTO SERVICE REVENUE 221000 12348988 12348988 CAPITAL CREDITS 221000 6722481 6722481 OTHER ELECTRIC REVENUE 221000 714837 714837 FIBER OPTIC SALES 517000 351095 351095 109367564 195738 195738 187274 0 187274 187274 187274 58880 0 58880 58880 58880 MISCELLANEOUS REVENUE 900099 586380 586380 586380 110395836 109953944 0 441892 X 8235 6577900 890961 4253475 680802 364821 5739466 5581916 PURCHASED POWER 77834929 TRANSMISSION 4163489 STEAM GENERATION 2468364 CUSTOMER SERVICE & SALE 2320732 -1220166 109664924 7565604 3973417 8383912 11177769 735947 382650 4649032 5561158 899022 879515 236648227 70860871 144956257 165787356 3150299 3303116 63611831 67614871 41689 44346 28698 22617 234022291 258746815 11705647 15698611 2694404 2684688 129996768 124525751 20984624 517846 609989 144914665 164503663 X 0 0 0 0 89107626 94243152 89107626 94243152 234022291 258746815 X 730912 4404614 X 0 1 X 1 0 1393895 1393895 10361978 4707857 5654121 212598889 66153014 146445875 12293465 12293465 165787356 BASIN ELECTRIC POWER COOPERATIVE - PATRONAGE CAPITAL CREDITS 63463430 C NRUCFC - PATRONAGE CAPITAL CREDITS 955280 C COBANK - PATRONAGE CAPITAL CREDITS 880645 C FEDERATED RURAL ELECTRIC INSURANCE - PATRONAGE CAPITAL CREDITS 342715 C OTHER ASSOCIATED COMPANIES - PATRONAGE CAPITAL CREDITS 147248 C NRUCFC - SUBORDINATE CERTIFICATES 1323018 C NRUCFC - MEMBER CAPITAL SECURITIES 500000 C INVESTMENTS IN ASSOCIATED COMPANIES - OTHER INVESTMENTS 2535 C 67614871 ACCUMULATED PROVISION FOR PENSION & BENEFITS 609989 609989 X 110395836 0 110395836 0 110395836 103087024 0 103087024 6577900 6577900 109664924 PART X, LINE 2: THE COOPERATIVE HAS EVALUATED WHETHER IT WAS NECESSARY TO RECOGNIZE ANY BENEFIT FROM UNCERTAIN TAX POSITIONS IN CURRENTLY OPEN TAX PERIODS AND DETERMINED THAT THERE ARE NO MATERIAL UNCERTAINTIES WITHIN ITS FILED TAX RETURNS. AS OF DECEMBER 31, 2023 AND 2022, THE UNRECOGNIZED TAX BENEFIT ACCRUAL WAS ZERO. THE COOPERATIVE WOULD RECOGNIZE FUTURE ACCRUED INTEREST AND PENALTIES RELATED TO UNRECOGNIZED TAX BENEFITS IN INCOME TAX EXPENSE IF INCURRED. PART XII, LINE 4B - OTHER ADJUSTMENTS: ALLOCATION OF 2023 MARGINS TO MEMBERS IN 2024 6,577,900. X 1 1 X X 0 1 0 MATTHEW WASHBURN EXEC. VP & GENERAL MANAGER 285245 0 203 0 1466 0 83349 0 29761 0 400024 0 0 0 JAYME HUBER VP OF ENGINEERING SERVICES 165728 0 203 0 1541 0 30760 0 26564 0 224796 0 0 0 STEVE SPIELER CIO 153636 0 217 0 724 0 25708 0 21824 0 202109 0 0 0 JANE SCHEITLER CFO 143020 0 217 0 683 0 25718 0 29852 0 199490 0 0 0 MICHAEL J PERSINGER APPARATUS SERVICES MANAGER 128374 0 217 0 1676 0 36711 0 20798 0 187776 0 0 0 THOMAS BERKENPAS TRANSMISSION SUPERINTENDENT 124324 0 217 0 843 0 24570 0 27962 0 177916 0 0 0 MARK NELSON POWER DISPATCHING MANAGER 128377 0 217 0 3307 0 32510 0 10814 0 175225 0 0 0 CHRISTOPHER LARSON ENGINEER III 120245 0 217 0 553 0 9242 0 27002 0 157259 0 0 0 PART I, LINE 1A THE COOPERATIVE OCCASIONALLY PROVIDES CHARTER TRAVEL FOR GROUPS OF ITS DIRECTORS, OFFICERS, AND EMPLOYEES TO ATTEND MEETINGS OF OTHER ORGANIZATIONS WHEN THIS IS MORE COST EFFECTIVE AND EXPEDIENT THAN ARRANGING FOR OTHER COMMERCIALLY AVAILABLE TRAVEL METHODS. PART I, LINE 4B INVESTMENT GAINS/(LOSSES) IN SUPPLEMENT NON-QUALIFIED RETIREMENT PLAN: MATTHEW WASHBURN $39,421.10 JAYME HUBER $2,614.39 JANE SCHEITLER $4,261.17 STEVE SPIELER $2,680.15 SCHEDULE J, PART II, COLUMN C PER THE INSTRUCTIONS, COLUMN C INCLUDES THE CHANGE IN ACTUARIAL VALUE IN THE DEFINED BENEFIT PLAN FOR PERSONS LISTED IN SCHEDULE J, PART II. ACTUAL EXPENSE OF THE PLAN MAY BE SIGNIFICANTLY DIFFERENT FROM THE CHANGE IN ACTUARIAL VALUE. ACTUAL EXPENSES OF THE PLAN ARE AS FOLLOWS: MATTHEW WASHBURN $51,100 JANE SCHEITLER $17,679 JAYME HUBER $20,155 MARK NELSON $22,922 MICHAEL PERSINGER $23,159 STEVE SPIELER $18,541 THOMAS BERKENPAS $20,157 CHRISTOPHER LARSON $13,710 CHANGES IN ACTUARIAL VALUES ARE AS FOLLOWS: MATTHEW WASHBURN $66,249 JANE SCHEITLER $16,903 JAYME HUBER $20,710 MARK NELSON $28,620 MICHAEL PERSINGER $32,780 STEVE SPIELER $16,463 THOMAS BERKENPAS $20,683 CHRISTOPHER LARSON $5,525 FORM 990, PART VI, SECTION A, LINE 6 THE COOPERATIVE HAS TWO CLASSES OF MEMBERS. CLASS A MEMBERS EACH APPOINT ONE MEMBER OF THE BOARD OF DIRECTORS AND EACH OF THOSE DIRECTORS HAS ONE VOTE. CLASS A MEMBERS ARE ALSO ALLOCATED PATRONAGE CAPITAL BASED ON A PRO-RATA SHARE OF THEIR PURCHASES OF ELECTRICITY. CLASS B MEMBERS DO NOT HAVE REPRESENTATION ON THE BOARD OF DIRECTORS, BUT DO RECEIVE ALLOCATIONS OF PATRONAGE CAPITAL. FORM 990, PART VI, SECTION A, LINE 7A EACH OF THE COOPERATIVE'S CLASS A MEMBERS HAS THE RIGHT TO APPOINT ONE REPRESENTATIVE TO THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 7B CHANGES TO THE COOPERATIVE'S BY-LAWS AND ARTICLES OF INCORPORATION MUST BE AUTHORIZED BY A MAJORITY VOTE OF THE MEMBERSHIP. ALSO, THE COOPERATIVE MAY NOT SELL, MORTGAGE, LEASE, OR OTHERWISE DISPOSE OF ITS PROPERTY UNLESS AUTHORIZED AT A MEETING OF THE MEMBERS BY THE AFFIRMATIVE VOTE OF A MAJORITY OF THE MEMBERS. FORM 990, PART VI, SECTION A, LINE 8B THE BOARD OF DIRECTORS OF NIPCO SERVES AS ALL COMMITTEES FOR THE COOPERATIVE. COMMITTEES INCLUDE AUDIT COMMITTEE, TAX COMMITTEE AND LABOR COMMITTEE. ALL ACTIONS ARE APPROVED DURING NORMAL BOARD MEETINGS. FORM 990, PART VI, SECTION B, LINE 11B JANE SCHEITLER, CFO, WILL REVIEW THE COMPLETED FORM 990 AND PRESENT THE FORM 990 TO THE BOARD OF DIRECTORS PRIOR TO ITS ISSUANCE. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY APPLIES TO DIRECTORS AND OFFICERS. DIRECTORS AND OFFICERS ARE RESPONSIBLE FOR INFORMING THE EXECUTIVE VP & GENERAL MANAGER OF ANY POTENTIAL CONFLICTS. THE EXECUTIVE VP & GENERAL MANAGER WILL DETERMINE WHETHER THE SITUATION IS A CONFLICT AND WHAT ACTION IS NECESSARY TO MITIGATE THE CONFLICT. FORM 990, PART VI, SECTION B, LINE 15A THE COMPENSATION OF THE EXECUTIVE VP & GENERAL MANAGER IS SET ANNUALLY BY THE BOARD OF DIRECTORS. AN ANNUAL UPDATE FOR COMPARABLE WAGES IS RECEIVED FROM NRECA EVERY YEAR. FORM 990, PART VI, SECTION C, LINE 19 THE COOPERATIVE MAKES ITS GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY AVAILABLE FOR PUBLIC INSPECTION UPON REQUEST. FORM 990, PART VII, COLUMN F, OTHER COMPENSATION INCLUDED IN OTHER COMPENSATION IS THE ESTIMATED CURRENT YEAR INCREASE OR DECREASE IN THE ACTUARIAL VALUE OF THE DEFINED BENEFIT PLAN FOR THE COMPENSATED EMPLOYEES INCLUDED ON FORM 990 PART VII. THE CURRENT YEAR INCREASE OR DECREASE DOES NOT REPRESENT CURRENT YEAR CONTRIBUTIONS TO THE PLAN. RATHER, IT IS AN ESTIMATE OF THE INCREASE OR DECREASE IN THE ACTUARIAL VALUE OF THE PLAN AS CALCULATED BY THE PLAN ADMINISTRATOR. FORM 990, PART IX, LINE 24E STATEMENT OF FUNCTIONAL EXPENSES: THE LABOR, PENSION AND PAYROLL TAXES REPORTED ON LINES 5-10 ARE INCLUDED IN DISTRIBUTION EXPENSE, ADMINISTRATIVE & GENERAL EXPENSE AND CUSTOMER EXPENSE. THEREFORE, LABOR, PENSION AND PAYROLL TAXES ARE SHOWN AS A REDUCTION TO OTHER EXPENSES ON LINE 24E. FORM 990, PART XI, LINE 9: ALLOCATION OF 2023 MARGINS TO MEMBERS IN 2024 6,577,900. RETIREMENT OF CAPITAL CREDITS -2,173,286. FORM 990, PART IX, LINE 4, BENEFITS PAID TO OR FOR MEMBERS: THE COOPERATIVE HAS INTERPRETED THE INSTRUCTIONS TO PART IX, LINE 4, TO MEAN PATRONAGE CAPITAL ALLOCATED FOR THE YEAR, RATHER THAN PATRONAGE CAPITAL RETIRED. THIS IS CONSISTENT WITH THE BY-LAWS OF THE COOPERATIVE. IOWA COOPERATIVES FOR ENERGY EFFICIENCY 1300 13TH ST N PO BOX 508 HUMBOLDT IA 50548 920667865 ENERGY EFFICIENCY CONFERENCE IA NORTHWEST IOWA POWER COOPERATIVE UNRELATED -6195 6834 0 1 0.50000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0