Civic Intelligence

Freeborn Mower Cooperative Services

990 • Fiscal year 2012 • EIN 41-0266055

Jan 01, 2012 to Dec 31, 2012 • Filed on Jun 27, 2013

Organization ProfileWWW.FMCS.COOP

View Organization Page

PO Box 61156007
Siviq Scores

Scores are not available for this record yet.

Balance Sheet

Assets

Flat

$47,153,138

Flat from 2012

Net Assets

Flat

$24,982,722

Flat from 2012

Liabilities

Flat

$22,170,416

Flat from 2012

Revenue And Expenses

Revenue

-

No earlier filing loaded for comparison.

Expenses

Flat

$20,949,571

Flat from 2012

Net Income

-

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$200M$150M$100M$50M$0Assets 2010: $44,659,609Liabilities 2010: $21,315,367Net Assets 2010: $23,344,2422010Assets 2011: $45,364,667Liabilities 2011: $21,365,527Net Assets 2011: $23,999,1402011Assets 2012: $47,153,138Liabilities 2012: $22,170,416Net Assets 2012: $24,982,7222012Assets 2012: $47,153,138Liabilities 2012: $22,170,416Net Assets 2012: $24,982,7222012Assets 2013: $51,665,620Liabilities 2013: $25,839,447Net Assets 2013: $25,826,1732013Assets 2014: $53,658,437Liabilities 2014: $25,336,001Net Assets 2014: $28,322,4362014Assets 2015: $105,615,685Liabilities 2015: $77,197,431Net Assets 2015: $28,418,2542015Assets 2016: $108,699,533Liabilities 2016: $78,717,098Net Assets 2016: $29,982,4352016Assets 2017: $112,204,502Liabilities 2017: $78,807,859Net Assets 2017: $33,396,6432017Assets 2018: $114,774,989Liabilities 2018: $79,855,592Net Assets 2018: $34,919,3972018Assets 2019: $119,556,305Liabilities 2019: $82,549,798Net Assets 2019: $37,006,5072019Assets 2020: $129,165,075Liabilities 2020: $89,993,963Net Assets 2020: $39,171,1122020Assets 2021: $136,719,563Liabilities 2021: $95,153,817Net Assets 2021: $41,565,7462021Assets 2022: $146,099,899Liabilities 2022: $102,991,927Net Assets 2022: $43,107,9722022Assets 2023: $151,110,003Liabilities 2023: $104,103,861Net Assets 2023: $47,006,1422023Assets 2024: $159,183,214Liabilities 2024: $110,235,417Net Assets 2024: $48,947,7972024

Highlighted filing

2012

Assets$47,153,138
Liabilities$22,170,416
Net Assets$24,982,722
Open 2012 Filing

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$80M$60M$40M$20M$0-$20MExpenses 2010: $18,358,2742010Expenses 2011: $20,522,6472011Expenses 2012: $20,949,5712012Revenue 2012: $21,117,887Expenses 2012: $20,949,571Net Income 2012: $168,3162012Revenue 2013: $23,083,933Expenses 2013: $22,672,936Net Income 2013: $410,9972013Revenue 2014: $24,151,249Expenses 2014: $23,947,044Net Income 2014: $204,2052014Revenue 2015: $34,829,157Expenses 2015: $35,526,249Net Income 2015: -$697,0922015Revenue 2016: $51,525,123Expenses 2016: $53,068,498Net Income 2016: -$1,543,3752016Revenue 2017: $55,028,994Expenses 2017: $56,802,689Net Income 2017: -$1,773,6952017Revenue 2018: $56,486,532Expenses 2018: $57,890,230Net Income 2018: -$1,403,6982018Revenue 2019: $57,526,719Expenses 2019: $59,907,819Net Income 2019: -$2,381,1002019Revenue 2020: $55,219,825Expenses 2020: $55,795,419Net Income 2020: -$575,5942020Revenue 2021: $56,762,140Expenses 2021: $55,077,011Net Income 2021: $1,685,1292021Revenue 2022: $62,118,752Expenses 2022: $61,090,269Net Income 2022: $1,028,4832022Revenue 2023: $61,656,883Expenses 2023: $59,885,004Net Income 2023: $1,771,8792023Revenue 2024: $60,266,711Expenses 2024: $60,093,840Net Income 2024: $172,8712024

Highlighted filing

2012

Revenue-
Expenses$20,949,571
Net Income-
Open 2012 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2012 to Dec 31, 2012
Signed
Jun 27, 2013
Return Version
2012v2.1
Gross Receipts
$22,201,668
Mission and Program Overview

Mission

Provide electric power to the members of the cooperative which consists of approximately 6,000 members.

Filing and Contact Details

Filer

EIN
41-0266055
Raw XML AppendixShowing 400 of 468 raw XML fields

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IRS990ScheduleD/Form990ScheduleDPartXIII/Explanation0THE COOPERATIVE IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(12) OF THE INTERNAL REVENUE CODE. THE COOPERATIVE'S WHOLLY OWNED SUBSIDIARY, THE CONSTRUCTION COMPANY, IS ORGANIZED AS AN LLC AND IS TREATED AS A DISREGARDED ENTITY FOR INCOME TAX PURPOSES. INCOME FROM THE LLC IS INCLUDED WITH THE COOPERATIVE'S UNRELATED BUSINESS INCOME FOR TAX REPORTING PURPOSES. THE SUBSIDIARY UTILIZES AN ASSET AND LIABILITY APPROACH TO FINANCIAL ACCOUNTING AND REPORTING FOR INCOME TAXES. DEFERRED INCOME TAXES ARE COMPUTED ANNUALLY FOR DIFFERENCES BETWEEN THE FINANCIAL STATEMENT AND TAX BASIS OF ASSETS AND LIABILITIES THAT WILL RESULT IN TAXABLE OR DEDUCTIBLE AMOUNTS IN THE FUTURE BASED ON ENACTED TAX LAWS AND RATES APPLICABLE TO THE PERIODS IN WHICH THE DIFFERENCES ARE EXPECTED TO AFFECT TAXABLE INCOME. SUCH DIFFERENCES RELATE PRIMARILY TO THE USE OF ACCELERATED DEPRECIATION METHODS FOR INCOME TAX PURPOSES AS COMPARED TO THE STRAIGHT-LINE METHOD FOR FINANCIAL REPORTING AND UNRELATED GAINS ON AVAILABLE FOR SALE SECURITIES. VALUATION ALLOWANCES ARE ESTABLISHED WHEN NECESSARY TO REDUCE DEFERRED TAX ASSETS TO THE AMOUNT EXPECTED TO BE REALIZED. THE PROVISION FOR INCOME TAXES IS THE TAX PAYABLE OR REFUNDABLE FOR THE PERIOD PLUS OR MINUS THE CHANGE DURING THE PERIOD IN DEFERRED TAX ASSETS AND LIABILITIES. INCOME TAX PROVISIONS OF APPROXIMATELY $6,363 AND $1,221 WERE RECORDED FOR 2012 AND 2011, RESPECTIVELY. DEFERRED TAX LIABILITY OF APPROXIMATELY $40,795 AND $46,803 WERE RECORDED FOR 2012 AND 2011, RESPECTIVELY. THE COOPERATIVE EVALUATED ITS TAX POSITIONS AND DETERMINED THAT IT HAS NO UNCERTAIN TAX POSITIONS AS OF DECEMBER 31, 2012. THE COOPERATIVE'S 2009, 2010, AND 2011 TAX YEARS ARE OPEN FOR EXAMINATION BY THE IRS.
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IRS990ScheduleO/GeneralExplanation/Explanation0EACH MEMBER IS A CONSUMER OF THE COOPERATIVE.
IRS990ScheduleO/GeneralExplanation/Explanation1THERE IS ONLY ONE CLASS OF VOTING MEMBERSHIP AND EACH MEMBER IS ALLOWED ONE VOTE.
IRS990ScheduleO/GeneralExplanation/Explanation2THE FORM 990 IS REVIEWED BY THE BOARD AND MANAGEMENT TEAM PRIOR TO ITS FILING WITH THE IRS.
IRS990ScheduleO/GeneralExplanation/Explanation3AN ANNUAL COMPLIANCE CERTIFICATION IS COMPLETED BY EACH BOARD MEMBER, OFFICER, AND KEY EMPLOYEE.
IRS990ScheduleO/GeneralExplanation/Explanation4THE BOARD OF DIRECTORS WILL USE NATIONAL, REGIONAL, AND STATE DATA TO DETERMINE THE NEW ANNUAL SALARY FOR THE PRESIDENT/CEO. THE BOARD OF DIRECTORS WILL ALSO UTILIZE THE NATIONAL COMP. STUDY CONDUCTED ANNUALLY BY NRECA AS A GUIDE. EACH NON-UNION EMPLOYEE COMPLETES AN EVALUATION FORM WHICH IS REVIEWED ANNUALLY WITH THEIR SUPERVISOR. WAGE INCREASES ARE BASED UPON PERFORMANCE ANNUALLY. THE UNION EMPLOYEES' WAGE INCREASE IS BASED ON THE UNION CONTRACT. BOTH OF THESE PROCESSES WERE USED DURING THE CURRENT TAX YEAR.
IRS990ScheduleO/GeneralExplanation/Explanation5THE COOPERATIVE MAKES ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE UPON REQUEST AT THE COOPERATIVE.
IRS990ScheduleO/GeneralExplanation/Explanation6CAPITAL CREDITS RETIRED -655,760. CHANGE IN OTHER EQUITIES 51,568. HEARTLAND SECURITY SERVICES, LLC K-1 -15,910. FREEBORN MOWER CONSTRUCTION COMPANY 30,590. PATRONAGE DIVIDENDS ALLOCATED 1,261,877.
IRS990ScheduleO/GeneralExplanation/Explanation7THE COOPERATIVE'S BOARD OF DIRECTORS ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF ITS CONSOLIDATED FINANCIAL STATEMENTS AND THE SELECTION OF ITS INDEPENDENT ACCOUNTANT. THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.
IRS990ScheduleO/GeneralExplanation/Explanation8THE IRS INSTRUCTIONS STATE THAT PATRONAGE DIVIDENDS PAID BY SECTION 501(C)(12) ORGANIZATIONS TO THEIR MEMBERS SHOULD BE REPORTED ON LINE 4. THE ORGANIZATION HAS INTERPRETED PATRONAGE DIVIDENDS PAID TO MEAN PATRONAGE DIVIDENDS ALLOCATED OR TO BE ALLOCATED FOR THE CURRENT YEAR. SINCE THIS ALLOCATION IS NOT AN EXPENSE UNDER GENERALLY ACCEPTED ACCOUNTING PRINCIPLES (GAAP), THIS HAS RESULTED IN A RECONCILING ITEM TO NET ASSETS IN PART XI ON PAGE 12 OF THE FORM 990.
IRS990ScheduleO/GeneralExplanation/Identifier0CHANGES IN NET ASSETS OR FUND BALANCES:
IRS990ScheduleO/GeneralExplanation/ReturnReference0FORM 990, PART VI, SECTION A, LINE 6
IRS990ScheduleO/GeneralExplanation/ReturnReference1FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/GeneralExplanation/ReturnReference2FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/GeneralExplanation/ReturnReference3FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/GeneralExplanation/ReturnReference4FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/GeneralExplanation/ReturnReference5FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/GeneralExplanation/ReturnReference6FORM 990, PART XI, LINE 9:
IRS990ScheduleO/GeneralExplanation/ReturnReference7FORM 990, PART XII, LINE 2C
IRS990ScheduleO/GeneralExplanation/ReturnReference8FORM 990, PART IX, LINE 4
IRS990/ScheduleORequired01
IRS990ScheduleR/DividendsRelatedOrganization00
IRS990ScheduleR/ExchangeOfAssets00
IRS990ScheduleR/Form990ScheduleRPartI/AddressUS/AddressLine102501 MAIN STREET EAST
IRS990ScheduleR/Form990ScheduleRPartI/AddressUS/City0ALBERT LEA
IRS990ScheduleR/Form990ScheduleRPartI/AddressUS/State0MN
IRS990ScheduleR/Form990ScheduleRPartI/AddressUS/ZIPCode056007
IRS990ScheduleR/Form990ScheduleRPartI/DirectControllingEntityName/BusinessNameLine10FREEBORN-MOWER COOPERATIVE SERVICES
IRS990ScheduleR/Form990ScheduleRPartI/EIN0204760363
IRS990ScheduleR/Form990ScheduleRPartI/EOYAssets0438891
IRS990ScheduleR/Form990ScheduleRPartI/LegalDomicileState0MN
IRS990ScheduleR/Form990ScheduleRPartI/NameOfDisregardedEntity/BusinessNameLine10FREEBORN-MOWER CONSTRUCTION COMPANY
IRS990ScheduleR/Form990ScheduleRPartI/PrimaryActivities0CONTRUCTION COMPANY
IRS990ScheduleR/Form990ScheduleRPartI/TotalIncome0472986
IRS990ScheduleR/GiftGrantOrCapContrFrOtherOrg00
IRS990ScheduleR/GiftGrantOrCapContrToOtherOrg00
IRS990ScheduleR/LoansOrGuaranteesFromOtherOrg00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrg00
IRS990ScheduleR/OtherTransferFromOtherOrg00
IRS990ScheduleR/OtherTransferToOtherOrg00
IRS990ScheduleR/PerformOfServicesByOtherOrgs01
IRS990ScheduleR/PerformOfServicesForOtherOrgs00
IRS990ScheduleR/PurchaseOfAssetsFromOtherOrg00
IRS990ScheduleR/ReceiptOfIntAnnRentsRoyalties00
IRS990ScheduleR/ReimbursementPaidByOtherOrg01
IRS990ScheduleR/ReimbursementPaidToOtherOrg01
IRS990ScheduleR/RentalOfFacilitiesFrOtherOrgs00
IRS990ScheduleR/RentalOfFacilitiesToOtherOrgs00
IRS990ScheduleR/SaleOfAssetsToOtherOrg00
IRS990ScheduleR/SharingOfFacilities00
IRS990ScheduleR/SharingOfPaidEmployees00
IRS990ScheduleR/TransactionsRelatedOrgsTable/AmountInvolved0483295
IRS990ScheduleR/TransactionsRelatedOrgsTable/MethodOfAmtDetermination0ACTUAL PAYMENT
IRS990ScheduleR/TransactionsRelatedOrgsTable/NameOfOtherOrganization/BusinessNameLine10FREEBORN-MOWER CONSTRUCTION COMPANY
IRS990ScheduleR/TransactionsRelatedOrgsTable/TransactionType0M
IRS990/School00
IRS990/SignificantChange00
IRS990/SignificantNewProgramServices00
IRS990/StateLegalDomicile0MN
IRS990/SubjectToProxyTax00
IRS990/TaxablePartyNotification00
IRS990/TaxExemptBonds00
IRS990/Terminated00
IRS990/TermOrPermanentEndowments00
IRS990/TheBooksAreInCareOf/AddressUS/AddressLine102501 MAIN STREET EAST
IRS990/TheBooksAreInCareOf/AddressUS/City0ALBERT LEA
IRS990/TheBooksAreInCareOf/AddressUS/State0MN
IRS990/TheBooksAreInCareOf/AddressUS/ZIPCode056007
IRS990/TheBooksAreInCareOf/NameBusiness/BusinessNameLine10ANGIE KOLKER DIRECTOR OF FINANCE

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Filings

Displayed year

2012 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$47,153,138
Liabilities
$22,170,416
Net assets
$24,982,722
Revenue
-
Expenses
$20,949,571
Net income
-
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$159$110$48.9$60.3$60.1$0.17
2023Detailed filing. Detailed filing data is available for this year.$151$104$47.0$61.7$59.9$1.77
2022Detailed filing. Detailed filing data is available for this year.$146$103$43.1$62.1$61.1$1.03
2021Detailed filing. Detailed filing data is available for this year.$137$95.2$41.6$56.8$55.1$1.69
2020Detailed filing. Detailed filing data is available for this year.$129$90.0$39.2$55.2$55.8$0.58
2019Detailed filing. Detailed filing data is available for this year.$120$82.5$37.0$57.5$59.9$2.38
2018Detailed filing. Detailed filing data is available for this year.$115$79.9$34.9$56.5$57.9$1.40
2017Detailed filing. Detailed filing data is available for this year.$112$78.8$33.4$55.0$56.8$1.77
2016Detailed filing. Detailed filing data is available for this year.$109$78.7$30.0$51.5$53.1$1.54
2015Detailed filing. Detailed filing data is available for this year.$106$77.2$28.4$34.8$35.5$0.70
2014Detailed filing. Detailed filing data is available for this year.$53.7$25.3$28.3$24.2$23.9$0.20
2013Detailed filing. Detailed filing data is available for this year.$51.7$25.8$25.8$23.1$22.7$0.41
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$47.2$22.2$25.0$20.9
2012Summary only. Only limited summary data is available for this year.$47.2$22.2$25.0$21.1$20.9$0.17
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$45.4$21.4$24.0$20.5
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$44.7$21.3$23.3$18.4