2025-08-04T14:58:34-05:00 2024-12-31 450250958 EIDE BAILLY LLP 345 N REID PL STE 400 SIOUX FALLS SD 571037034 990 2024-01-01 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 2025-07-30 1 1 LAURIE HANSON CPA P00851848 6053391999 2025-07-30 2024 2025-03-06 01:10:19Z MATTHEW R WASHBURN 31002 COUNTY ROAD C38 PO BOX 240 LE MARS IA 510310240 114611981 0 X WWW.NIPCO.COOP X 1949 IA WHOLESALE ELECTRICITY SALES TO ITS MEMBER COOPERATIVES. 7 7 48 0 0 0 0 0 109367564 113729851 254618 258946 773654 623184 110395836 114611981 8235 7367 6577900 5847600 6190059 6562676 0 0 0 96888730 101544497 109664924 113962140 730912 649841 258746815 279034305 164503663 180675737 94243152 98358568 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 1 103 0 1 48 1 1 1 0 0 0 0 97744141 2131168 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 17750 0 0 RONALD STEINHOFF VICE PRESIDENT 9.00 X X 13080 0 0 TRENT WILL SECRETARY 7.00 X X 9750 0 0 THOMAS WAGNER TREASURER 8.00 X X 11260 0 0 BRYAN GREVE DIRECTOR 6.00 X 7170 0 0 JAMES ELSE DIRECTOR 9.00 X 14070 0 0 BRENDA LUNDERGARD DIRECTOR 8.00 X 11020 0 0 MATTHEW WASHBURN EXEC. VP & GENERAL MANAGER 44.00 X 304901 0 118847 JANE SCHEITLER CFO 41.00 X 152012 0 57431 JAYME HUBER VP OF ENGINEERING SERVICES 41.00 X 178194 0 56637 STEVE SPIELER CIO 41.00 X 163553 0 48466 MARK NELSON POWER DISPATCHING MANAGER 41.00 X 138999 0 45869 MICHAEL J PERSINGER APPARATUS SERVICES MANAGER 41.00 X 137272 0 61729 THOMAS BERKENPAS TRANSMISSION SUPERINTENDEN 43.00 X 132359 0 62600 GRANT OLIVER CREW FOREMAN 43.00 X 129932 0 39786 1421322 0 491365 36 0 1 0 WATTS ELECTRIC COMPANY 13351 DOVERS ST WAVERLY NE 68462 TRANSMISSION LINE CONSTRUCTION 9010688 L&L BUILDERS CO 2205 EAST 4TH ST SIOUX CITY IA 51102 OUTPOST BUILDING CONSTRUCTION 1790695 N&M POWER COMPANY PO BOX 644 BROKEN BOW NE 68822 SWITCH STATION CONSTRUCTION 359242 SCHOON CONSTRUCTION INC 1500 S 2ND CHEROKEE IA 51012 FIBER BORING 264006 CARDIS MFG CO INC 101 GRANDY DRIVE 1 SIOUX CITY IA 51106 INSTALL FENCING 172465 6 SALE OF POWER 221000 94584249 94584249 RTO SERVICE REVENUE 221000 13075580 13075580 CAPITAL CREDITS 221000 5051599 5051599 OTHER ELECTRIC REVENUE 221000 676072 676072 FIBER OPTIC SALES 517000 342351 342351 113729851 222934 222934 173373 0 173373 173373 173373 36012 0 36012 36012 36012 MISCELLANEOUS REVENUE 900099 449811 449811 449811 114611981 114179662 0 432319 X 7367 5847600 939652 4501838 735056 386130 6977061 6196392 PURCHASED POWER 81002316 TRANSMISSION 4620603 CUSTOMER SERVICE & SALE 2242927 STEAM GENERATION 2191225 -1686027 113962140 3973417 5521822 11177769 11180603 382650 219295 5561158 6736294 879515 1252503 256898076 74642061 165787356 182256015 3303116 1966891 67614871 69833964 44346 44346 22617 22572 258746815 279034305 15698611 17251818 2684688 1276771 124525751 153765812 20984624 7680146 609989 701190 164503663 180675737 X 0 0 0 0 94243152 98358568 94243152 98358568 258746815 279034305 X 649841 3465575 X 0 1 X 1 0 1393895 1393895 15109967 4840412 10269555 225620055 69801649 155818406 14774159 14774159 182256015 BASIN ELECTRIC POWER COOPERATIVE - PATRONAGE CAPITAL CREDITS 65549538 C NRUCFC - PATRONAGE CAPITAL CREDITS 1027622 C COBANK - PATRONAGE CAPITAL CREDITS 925311 C FEDERATED RURAL ELECTRIC INSURANCE - PATRONAGE CAPITAL CREDITS 348213 C OTHER ASSOCIATED COMPANIES - PATRONAGE CAPITAL CREDITS 157727 C NRUCFC - SUBORDINATE CERTIFICATES 1323018 C NRUCFC - MEMBER CAPITAL SECURITIES 500000 C INVESTMENTS IN ASSOCIATED COMPANIES - OTHER INVESTMENTS 2535 C 69833964 ACCUMULATED PROVISION FOR PENSION & BENEFITS 701190 701190 X 114611981 0 114611981 0 114611981 108114540 0 108114540 5847600 5847600 113962140 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 5,847,600. X 1 1 X X 0 1 0 MATTHEW WASHBURN EXEC. VP & GENERAL MANAGER 303076 0 254 0 1571 0 92187 0 29433 0 426521 0 0 0 JAYME HUBER VP OF ENGINEERING SERVICES 174990 0 254 0 2950 0 34080 0 25175 0 237449 0 0 0 STEVE SPIELER CIO 162504 0 271 0 778 0 28162 0 22771 0 214486 0 0 0 JANE SCHEITLER CFO 150976 0 271 0 765 0 28221 0 31595 0 211828 0 0 0 MICHAEL J PERSINGER APPARATUS SERVICES MANAGER 135195 0 271 0 1806 0 42217 0 21699 0 201188 0 0 0 THOMAS BERKENPAS TRANSMISSION SUPERINTENDEN 131173 0 271 0 915 0 34940 0 29829 0 197128 0 0 0 MARK NELSON POWER DISPATCHING MANAGER 135342 0 271 0 3386 0 36773 0 11265 0 187037 0 0 0 GRANT OLIVER CREW FOREMAN 129356 0 271 0 305 0 13626 0 28158 0 171716 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 $42,557.45 JAYME HUBER $3,321.02 JANE SCHEITLER $6,086.22 STEVE SPIELER $3,581.00 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 $55,290 JANE SCHEITLER $19,019 JAYME HUBER $21,687 MARK NELSON $24,653 MICHAEL PERSINGER $24,908 STEVE SPIELER $19,945 THOMAS BERKENPAS $24,633 GRANT OLIVER $14,529 CHANGES IN ACTUARIAL VALUES ARE AS FOLLOWS: MATTHEW WASHBURN $73,962 JANE SCHEITLER $18,865 JAYME HUBER $23,411 MARK NELSON $32,672 MICHAEL PERSINGER $38,073 STEVE SPIELER $18,351 THOMAS BERKENPAS $30,842 GRANT OLIVER $9,630 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 2024 MARGINS TO MEMBERS IN 2025 5,847,600. RETIREMENT OF CAPITAL CREDITS -2,382,025. 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 1842 8676 0 1 0.50000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0