2025-11-07T14:46:57-06:00 2024-12-31 450250958 EIDE BAILLY LLP 345 N REID PL STE 400 SIOUX FALLS SD 571037034 990 2024-01-01 420721692 L&O POWER COOPERATIVE INC L&OP 7124722556 1302 SOUTH UNION STREET ROCK RAPIDS IA 51246 DAVID HUFF SECRETARY/TREASURER 7124722556 2025-10-31 1 1 LAURIE HANSON CPA P00851848 6053391999 2025-10-31 2024 2025-03-06 01:10:19Z DAVID DEBOER 1302 SOUTH UNION STREET ROCK RAPIDS IA 51246 43103383 0 X WWW.LANDOPOWERCOOP.COM X 1952 IA SALE OF ELECTRICITY TO MEMBERS 12 12 0 0 0 0 0 0 43632973 43026923 156063 76460 0 0 43789036 43103383 0 0 2757919 1687815 61800 61500 0 0 0 40329549 40833199 43149268 42582514 639768 520869 76182045 80459643 37754589 40461759 38427456 39997884 SALE OF ELECTRICITY TO MEMBERS TO GENERATE INCOME FOR THE SOLE PURPOSE OF MEETING LOSSES AND EXPENSES. 0 0 L&O POWER COOPERATIVE IS A WHOLESALE POWER SUPPLIER TO FOUR RURAL DISTRIBUTION COOPERATIVES. L&O PROVIDES WHEELING SERVICES TO THREE MUNICIPALITIES. 0 0 0 0 0 0 0 0 0 1 0 1 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 28 0 1 0 0 0 0 0 0 38618051 3032936 0 0 0 X 12 12 0 1 0 0 1 1 0 1 0 0 0 1 1 1 1 1 1 0 0 0 X L&O POWER COOPERATIVE INC 7124722556 1302 SOUTH UNION STREET ROCK RAPIDS IA 51246 DAVID HUFF SEC/TREASURER 6.00 X X 12150 0 0 DAVID DEBOER PRESIDENT 6.00 X X 6900 0 0 DAVID HANSEN DIRECTOR 6.00 X 5400 0 0 ADAM HOEKSTRA VICE PRESIDENT 6.00 X X 3600 0 0 LUCAS ROSKAMP DIRECTOR 6.00 X 4800 0 0 DAN LEUTHOLD DIRECTOR 6.00 X 3900 0 0 DAVID MESCHKE DIRECTOR 6.00 X 3900 0 0 GREGG JOHNSON DIRECTOR 6.00 X 4500 0 0 GLENN DICKS DIRECTOR 6.00 X 3600 0 0 TERRENCE CLARK DIRECTOR FROM 04/2024 6.00 X 3000 0 0 NOLAN KOOIKER DIRECTOR 6.00 X 3600 0 0 DEAN HASPELS DIRECTOR 6.00 X 4200 0 0 STEVE VOSS DIRECTOR UNTIL 03/2024 6.00 X 1950 0 0 CURT DIEREN MANAGER/CEO 30.00 X 0 0 0 61500 0 0 0 0 0 0 DGR ENGINEERING 1302 S UNION STREET ROCK RAPIDS IA 51246 ADMIN, MANAGEMENT, MAINTENANCE, ENGINEER 2114334 WATTS ELECTRIC COMPANY 13351 DOVERS STREET WAVERLY NE 68462 ELECTRICAL CONSTRUCTION COMPANY 1804658 N & M POWER CO 905 S 8TH AVE BROKEN BOW NE 68822 ELECTRICAL CONSTRUCTION COMPANY 595970 PENNSYLVANIA TRANSFORMER TECHNOLOGY INC PO BOX 641580 PITTSBURGH PA 15264 ELECTRICAL MANUFACTURING COMPANY 369506 RESCO PO BOX 684141 CHICAGO IL 60695 ELECTRICAL MANUFACTURING COMPANY 150958 7 ELECTRICITY SOLD TO MEMBERS 221000 38618051 38618051 GEN & TRANS. CAPITAL CREDITS 221000 2323114 2323114 SPP-RTO REVENUE 221000 1615341 1615341 OTHER OPERATING INCOME 221000 470417 470417 43026923 76460 76460 43103383 43026923 0 76460 1687815 61500 453071 1817992 1143600 123446 COST OF POWER 34962306 OPERATIONS 1159969 MAINTENANCE 745351 ADMINISTRATIVE & GENERA 343922 83542 42582514 11170 71310 2711214 2379756 3433079 3818905 1315859 1341868 212688 378753 55459551 10941599 42086709 44517952 25785862 27325635 625464 625464 76182045 80459643 7471626 7083332 24332963 28628427 5950000 4750000 37754589 40461759 X 0 0 1200 1200 38426256 39996684 38427456 39997884 76182045 80459643 X 520869 1049559 X 0 1 X 1 0 180842 180842 492765 125589 367176 52218055 10816010 41402045 2567889 2567889 44517952 BASIN ELECTRIC POWER COOPERATIVE 26369158 C NATIONAL RURAL UTILITIES COOP FINANCE CO. 263030 C COBANK 406263 C FEDERATED RURAL ELECTRIC INSURANCE 120621 C BASIN MEMBER NOTES-RESTRICTED CASH 105754 C OTHER 16543 C RURAL ELECTRIC SUPPLY COOPERATIVE 44266 C 27325635 X 43103383 0 43103383 0 43103383 40894699 0 40894699 1687815 1687815 42582514 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, 2024 AND 2023, 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 2024 MARGINS TO MEMBERS IN 2025 1,687,815. FORM 990, PART VI, SECTION A, LINE 1A THE COOPERATIVE HAS TWO CLASSES OF MEMBERSHIP. CLASS I MEMBERSHIP CONSISTS OF THE THREE ORIGINAL INCORPORATORS AND MEMBERS OF THE COOPERATIVE, NAMELY: LYON RURAL ELECTRIC COOPERATIVE, OSCEOLA ELECTRIC COOPERATIVE, INC, AND SIOUX VALLEY ENERGY. A CLASS II MEMBERSHIP IS AVAILABLE TO AN INCORPORATED COOPERATIVE ASSOCIATION ENGAGED DIRECTLY OR INDIRECTLY IN ANY BUSINESS ACTIVITY WHICH IS RELATED TO L AND O POWER COOPERATIVE. ONLY ONE CLASS II MEMBERSHIP IS AVAILABLE AT ANY TIME. CLASS I DIRECTORS ARE ENTITLED TO VOTE ON ALL MATTERS OF THE COOPERATIVE, AND TO BE OFFICERS OF THE COOPERATIVE. CLASS II DIRECTORS ARE ALLOWED TO VOTE WITH REGARD TO BASIN ELECTRIC POWER COOPERATIVE ISSUES AND RELATED POWER SUPPLY ISSUES WHICH AFFECT THE CLASS II MEMBER, BUT SHALL HAVE NO VOTING RIGHTS WITH REGARD TO THE COOPERATIVE'S GOVERNANCE MATTERS OR MATTERS WHICH RELATE TO THE COOPERATIVE'S SYSTEM AND FACILITIES. CLASS I DIRECTORS MAY ESTABLISH AN EXECUTIVE COMMITTEE CONSISTING OF THREE OFFICERS OF THE COOPERATIVE. THE EXECUTIVE COMMITTEE CAN BE CALLED AND AUTHORIZED TO MEET WITH MANAGEMENT AND ACT AS ITS ADVISORY COMMITTEE AND TAKE SUCH FURTHER ACTION ONLY IF AUTHORIZED TO ACT BY THE CLASS I DIRECTORS OR IN THE CASE OF AN EMERGENCY REQUIRING IMMEDIATE ACTION. FORM 990, PART VI, SECTION A, LINE 3 THE COOPERATIVE HAS A MANAGEMENT AGREEMENT WITH DGR ENGINEERING, 1302 S UNION STREET, ROCK RAPIDS, IA. COMPENSATION AND BENEFITS RELATED TO SERVICES PERFORMED BY CURT DIEREN, ACTING MANAGER/CEO FOR L & O POWER COOPERATIVE, INC., WERE $50,305 AND $23,558, RESPECTIVELY. COMPENSATION FOR THE MANAGEMENT SERVICES CONTRACT WITH DGR ENGINEERING IS ESTABLISHED ANNUALLY BY THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 6 THE COOPERATIVE HAS THREE CLASS I MEMBERS AND ONE CLASS II MEMBER. FORM 990, PART VI, SECTION A, LINE 7A THE COOPERATIVE HAS NINE CLASS I DIRECTORS AND ONE, TWO OR THREE CLASS II DIRECTORS, DEPENDING ON THE PURCHASE LEVEL OF THE CLASS II MEMBER, WHO ARE ELECTED BY THE MEMBERS FOR TERMS OF THREE YEARS. FORM 990, PART VI, SECTION A, LINE 8B NO COMMITTEES ARE ABLE TO ACT ON BEHALF OF THE BOARD. FORM 990, PART VI, SECTION B, LINE 11B THE 990 WILL BE REVIEWED BY THE BOARD OF DIRECTORS PRIOR TO FILING FORM 990. FORM 990, PART VI, SECTION B, LINE 12C DIRECTORS COMPLETE A CONFLICT OF INTEREST DISCLOSURE FORM ANNUALLY. THE BOARD OF DIRECTORS REVIEW REPORTED CONFLICTS AND MAKE A DETERMINATION AS TO WHETHER AN ACTUAL CONFLICT EXISTS. IF IT IS DETERMINED THAT A CONFLICT EXISTS, THE AFFECTED DIRECTOR WOULD NOT BE ALLOWED TO PARTICIPATE IN DISCUSSION OR VOTING ON THE MATTER. FORM 990, PART VI, SECTION C, LINE 19 L & O MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE MEMBERS. THESE DOCUMENTS ARE NOT AVAILABLE TO THE GENERAL PUBLIC. FORM 990, PART XI, LINE 9: RETIREMENT OF CAPITAL CREDITS -638,256. ALLOCATION OF 2024 MARGINS TO MEMBERS IN 2025 1,687,815.