2026-05-27T08:19:56-05:00 2025-12-31 450250958 EIDE BAILLY LLP 345 N REID PL STE 400 SIOUX FALLS SD 571037034 990 2025-01-01 271224818 RACCOON VALLEY ELECTRIC COOPERATIVE RACC 7126593649 PO BOX 486 GLIDDEN IA 514430486 KEATON HILDRETH CEO 7126593649 2026-05-15 1 LAURIE HANSON CPA P00851848 6053391999 2026-05-15 2025 2025-03-06 01:10:19Z KEATON HILDRETH PO BOX 486 GLIDDEN IA 514430486 16941649 0 X WWW.RVEC.COOP X 2010 IA PROVIDE ELECTRIC SERVICE TO MEMBERS. 7 7 18 0 0 0 0 0 16877564 16719458 101168 96285 62226 55609 17040958 16871352 14188 8186 1000000 1000000 2212595 2321897 0 0 0 12884103 12635872 16110886 15965955 930072 905397 54111775 54382974 30376339 29068021 23735436 25314953 TO PROVIDE SAFE, RELIABLE AND COMPETITIVE SERVICES WHILE BEING A LEADER IN OUR COMMUNITY'S PROSPERITY AND GROWTH. 0 0 PROVIDE ELECTRIC SERVICE TO APPROXIMATELY 2,094 MEMBERS. REVENUE IS COLLECTED FROM THE MEMBERS AND OTHER RELATED SOURCES FOR THE SOLE PURPOSE OF COVERING THE COST OF ELECTRIC SERVICE PROVIDED; AND TO PROVIDE OPERATING RESERVES TO FUND THOSE ACTIVITIES. EXCESS REVENUES OVER THE COST OF OPERATIONS AND ALLOCATIONS TO RESERVES ARE RETURNED TO THE MEMBERS AS PATRONAGE CAPITAL. 0 0 0 0 0 0 0 0 0 1 0 1 0 1 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 1 1 0 1 32 0 1 18 1 0 0 0 0 0 16161854 684886 0 0 0 X 7 7 0 0 0 0 1 1 1 1 0 0 0 1 1 1 1 1 1 1 1 1 1 X EUGENE HANDLOS 7126593649 28725 HWY 30 PO BOX 486 GLIDDEN IA 51443 X DAVID ONKEN PRESIDENT 4.60 X X 6000 0 0 STEVE SCHABLE VICE PRESIDENT 3.50 X X 7200 0 0 MARK LUDWIG SECRETARY/TREASURER 5.60 X X 9600 0 0 KAREN WERNER ASST SEC-TREAS. 4.10 X X 7200 0 0 ADAM HANDLOS DIRECTOR 0.90 X 3600 0 0 DAVE SCHROEDER DIRECTOR 2.70 X 6000 0 0 JEFF CRANSTON DIRECTOR (JAN-SEPT) 1.20 X 1800 0 0 CAROL RAASCH DIRECTOR (SEPT-DEC) 5.00 X 3000 0 0 JAMES GOSSETT CEO (UNTIL JAN 2025) 45.00 X 59285 0 16566 EUGENE HANDLOS CFO 45.00 X 129408 0 39030 KEATON HILDRETH INTERIM CEO (JAN-JUN)/CEO (JUL-DEC) 24.00 X 93558 0 20310 JACK SCANLAN LINE SUPERINTENDENT 45.00 X 126516 0 93745 RYAN GALLOWAY LINE FOREMAN 43.00 X 116489 0 32164 CHAD LANKFORD METER TECHNICIAN 43.00 X 111102 0 58245 MITCHELL MCKEEVER OPERATIONS SUPERINTENDENT 43.00 X 112023 0 82107 TERRY VAUBLE LINE FOREMAN 43.00 X 112245 0 82656 905026 0 424823 11 0 1 1 CALHOUN COUNTY ELECTRIC COOPERATIVE ASSO PO BOX 312 ROCKWELL CITY IA 50579 CONTRACTED EMPLOYEE 136258 1 SALE OF POWER 517000 15698670 15698670 CAPITAL CREDITS 221000 1020788 1020788 16719458 68355 68355 27930 0 27930 27930 27930 125906 70297 55609 55609 16871352 16775067 0 96285 X 8186 1000000 426335 1489553 270340 135669 918786 1399927 COST OF POWER 9705379 DISTRIBUTION-OPERATIONS 903871 ADMIN & GENERAL 748220 DISTRIBUTION-MAINTENANC 740632 -1780943 15965955 485653 833914 1538974 1723525 6987781 6336111 736888 699559 144178 166539 46201239 16709211 29456878 29492028 1809633 1762911 11178064 11594651 1773726 1773736 54111775 54382974 1644672 1582028 3205 3222 26682421 25732632 300000 0 1746041 1750139 30376339 29068021 X 0 0 0 0 23735436 25314953 23735436 25314953 54111775 54382974 X 905397 674120 X 0 1 X 1 0 0 1 X 10602 10602 3080151 1184156 1895995 3240789 2338579 902210 39869697 13186476 26683221 29492028 CORN BELT POWER COOPERATIVE 10224524 C FEDERATED RURAL ELECTRIC INSURANCE CORPORATION 108535 C NATIONAL RURAL TELECOMMUNICATIONS COOPERATIVE 64068 C NATIONAL RURAL UTILITIES COOPERATIVE FINANCE CORPORATION 922304 C MEMBERSHIPS AND OTHER 21629 C RURAL ELECTRIC SUPPLY COOPERATIVE 214204 C NATIONAL INFORMATION SERVICE COOPERATIVE 39387 C 11594651 CUSTOMER DEPOSITS 19709 DEFERRED CREDITS 621332 USDA GRANT 1109098 1750139 X 16900826 29474 29474 16871352 0 16871352 14965955 0 14965955 1000000 1000000 15965955 PART IV, LINE 2B: RECARE PROVIDES FUNDS TO BE DISTRIBUTED BY LOCAL COMMUNITY ACTION AGENCIES TO HELP PAY WINTER HEATING BILLS AND TO ASSIST IN WEATHERIZATION OF HOMES OF LOW-INCOME CONSUMERS. FUNDS COLLECTED FROM MEMBERS ARE TRANSFERED TO NEW OPP. INC. FOR THEIR DISTRIBUTION. FUNDS COLLECTED ARE PAID ANNUALLY BY JUNE 30. PART X, LINE 2: THE COOPERATIVE EVALUATES ITS TAX POSITIONS THAT HAVE BEEN TAKEN OR ARE EXPECTED TO BE TAKEN ON INCOME TAX RETURNS TO DETERMINE IF AN ACCRUAL IS NECESSARY FOR UNCERTAIN TAX POSITIONS. AS OF DECEMBER 31, 2025 AND 2024, THE UNRECOGNIZED TAX BENEFIT ACCRUAL WAS ZERO. THE COOPERATIVE WILL RECOGNIZE FUTURE ACCRUED INTEREST AND PENALTIES RELATED TO UNRECOGNIZED TAX BENEFITS IN INCOME TAX EXPENSE IF INCURRED. PART XI, LINE 2D - OTHER ADJUSTMENTS: SUBSIDIARY INCOME 29,474. PART XII, LINE 4B - OTHER ADJUSTMENTS: ALLOCATION OF 2025 MARGINS TO MEMBERS IN 2026 1,000,000. X 1 1 X X 0 0 0 JACK SCANLAN LINE SUPERINTENDENT 124090 0 0 0 2426 0 73547 0 21724 0 221787 0 0 0 TERRY VAUBLE LINE FOREMAN 109102 0 0 0 3143 0 62639 0 21339 0 196223 0 0 0 MITCHELL MCKEEVER OPERATIONS SUPERINTENDENT 108913 0 0 0 3110 0 69919 0 13500 0 195442 0 0 0 CHAD LANKFORD METER TECHNICIAN 109964 0 0 0 1138 0 36366 0 23178 0 170646 0 0 0 EUGENE HANDLOS CFO 128497 0 0 0 911 0 25531 0 15024 0 169963 0 0 0 KEATON HILDRETH INTERIM CEO (JAN-JUN)/CEO (JUL-DEC) 93558 0 0 0 0 0 17825 0 9572 0 120955 0 0 0 PART I, LINE 1A ALL EMPLOYEE'S ARE OFFERED GYM MEMBERSHIP REIMBURSEMENT UP TO A MAXIMUM OF $150 PER YEAR. SUBSTANTIATION OF EXPENSES IS REQUIRED PRIOR TO REIMBURSEMENT. FORM 990 SCHEDULE J PART II COLUMN C INCLUDED IN COLUMN C IS CHANGE IN ACTUARIAL VALUE OF THE DEFINED BENEFIT PLAN FOR KEATON HILDRETH. CHANGE IN ACTUARIAL VALUE IN THE PLAN FOR MR. HILDRETH WAS $10,738. ACTUAL CONTRIBUTION EXPENSE FOR MR. HILDRETH WAS $17,825. INCLUDED IN COLUMN C IS CHANGE IN ACTUARIAL VALUE OF THE DEFINED BENEFIT PLAN FOR JACK SCANLAN. CHANGE IN ACTUARIAL VALUE IN THE PLAN FOR MR. SCANLAN WAS $73,547. ACTUAL CONTRIBUTION EXPENSE FOR MR. SCANLAN WAS $21,464. INCLUDED IN COLUMN C IS CHANGE IN ACTUARIAL VALUE OF THE DEFINED BENEFIT PLAN FOR EUGENE HANDLOS. CHANGE IN ACTUARIAL VALUE IN THE PLAN FOR MR. HANDLOS WAS $25,531. ACTUAL CONTRIBUTION EXPENSE FOR MR. HANDLOS WAS $22,125. INCLUDED IN COLUMN C IS CHANGE IN ACTUARIAL VALUE OF THE DEFINED BENEFIT PLAN FOR CHAD LANKFORD. CHANGE IN ACTUARIAL VALUE IN THE PLAN FOR MR. LANKFORD WAS $36,366. ACTUAL CONTRIBUTION EXPENSE FOR MR. LANKFORD WAS $19,381. INCLUDED IN COLUMN C IS CHANGE IN ACTUARIAL VALUE OF THE DEFINED BENEFIT PLAN FOR MITCHELL MCKEEVER. CHANGE IN ACTUARIAL VALUE IN THE PLAN FOR MR. MCKEEVER WAS $69,919. ACTUAL CONTRIBUTION EXPENSE FOR MR. MCKEEVER WAS $30,946. INCLUDED IN COLUMN C IS CHANGE IN ACTUARIAL VALUE OF THE DEFINED BENEFIT PLAN FOR TERRY VAUBLE. CHANGE IN ACTUARIAL VALUE IN THE PLAN FOR MR. VAUBLE WAS $62,639. ACTUAL CONTRIBUTION EXPENSE FOR MR. VAUBLE WAS $18,923. FORM 990 SCHEDULE J PART II KEATON HILDRETH WAS COMPENSATED BY AN UNRELATED ORGANIZATION, CALHOUN COUNTY ELECTRIC COOPERATIVE ASSOCIATION, THROUGH A SHARED SERVICES AGREEMENT. TOTAL COMPENSATION AND BENEFITS, INCLUDING PAYROLL TAXES AND REIMBURSABLE EXPENSES, PAID FOR KEATON'S SERVICES IN 2025 WAS $93,558 AND $52,847, RESPECTIVELY. FORM 990, PART VI, SECTION A, LINE 6 THERE IS ONLY ONE CLASS OF MEMBERSHIP WITH EACH MEMBER HAVING ONE VOTE. FORM 990, PART VI, SECTION A, LINE 7A EACH MEMBER HAS ONE VOTE IN EACH DISTRICT IN THE ELECTION OF DIRECTORS FOR THE BOARD. FORM 990, PART VI, SECTION A, LINE 7B CHANGES TO THE ARTICLES OF INCORPORATION AS WELL AS DECISIONS TO CONSOLIDATE OR MERGE WITH OTHER ORGANIZATIONS MUST BE APPROVED BY A VOTE OF THE MEMBERS. FORM 990, PART VI, SECTION A, LINE 8B THE ORGANIZATION HAS NO COMMITTEES WITH BROAD AUTHORITY TO ACT ON THE BEHALF OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 WILL BE REVIEWED BY MANAGEMENT AND DISTRIBUTED TO THE BOARD OF DIRECTORS FOR DISCUSSION AND REVIEW PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY IS REVIEWED MONTHLY AT THE BOARD MEETING. THE ENTIRE BOARD IS RESPONSIBLE FOR DETERMINING IF A CONFLICT OF INTEREST EXISTS. IF THERE IS A CONFLICT, THE BOARD MEMBER AFFECTED WILL BE ASKED TO ABSTAIN FROM DISCUSSION AND VOTING ON THE ISSUE. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF DIRECTORS OF BOTH THE FILING AND UNRELATED ORGANIZATION REVIEW THE NRECA COMPENSATION SURVEY AND BASES THE CEO'S COMPENSATION ON THE SURVEY. THE NRECA COMPENSATION SURVEY IS USED AS A GUIDELINE. THE CEO DETERMINES COMPENSATION FOR ALL OTHER EMPLOYEES UTILIZING NATIONAL AND IOWA COMPENSATION REPORTS THAT RELATE TO UTILITY COMPANIES. THE PROCESS FOR DETERMINING COMPENSATION IS COMPLETED ANNUALLY. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC 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 CEO, CFO, LINE SUPERINTENDENT, OPERATIONS SUPERINTENDENT, METER TECHNICIAN AND LINE FOREMAN. 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 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. FORM 990, PART XI, LINE 9: PATRONAGE CAPITAL RETIREMENT -487,098. CHANGE IN OTHER EQUITIES 131,744. ALLOCATION OF 2025 MARGINS TO MEMBERS IN 2026 1,000,000. SUBSIDIARY INCOME 29,474. RACCOON VALLEY VISIONARY CORPORATION 28725 HWY 30 PO BOX 486 GLIDDEN IA 51443 421420395 ECONOMIC DEVELOPMENT IA RACCOON VALLEY ELECTRIC COOPERATIVE C 29474 3373720 1.00000 1 0 0 0 1 0 0 0 0 0 0 0 0 0 1 1 0 1 0 1 RACCOON VALLEY VISIONARY CORPORATION Q 179943 COST RACCOON VALLEY VISIONARY CORPORATION S 30491 COST FORM 990, SCHEDULE R, PART V, LINE 2 RACCOON VALLEY VISIONARY CORPORATION (RVVC), RELATED ENTITY, LENT MONEY TO AN UNRELATED ENTITY. TO FUND THE TRANSACTION, RACCOON VALLEY ELECTRIC COOPERATIVE (RVEC) LOANED MONEY TO RVVC. TRANSACTION S REPRESENTS INTEREST THAT IS COLLECTED BY RVVC FROM THE UNRELATED ENTITY AND THEN FORWARDED ON TO RVEC. RVVC ACTS SOLELY AS A PASS-THROUGH ENTITY IN THIS TRANSACTION AND DOES NOT RECEIVE A TAX BENEFIT AS A RESULT OF THE TRANSACTION.