Civic Intelligence

Allamakee-Clayton Electric Cooperative Inc

990 • Fiscal year 2020 • EIN 42-0110380

Jan 01, 2020 to Dec 31, 2020 • Filed on Nov 04, 2021

Organization ProfileWWW.ACREC.COM

View Organization Page

PO Box 715Postville, IA 52162

(563) 864-7611

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

60th percentile

0.55x

Higher debt load relative to assets than 60% of similar nonprofits.

2020 filings • 501(c)12 • $50M-$100M nonprofits • Source year 2020

Liabilities / Revenue

55th percentile

1.51x

Higher debt load relative to revenue than 55% of similar nonprofits.

2020 filings • 501(c)12 • $50M-$100M nonprofits • Source year 2020

Net Margin

47th percentile

0.0%

Higher net margin than 47% of similar nonprofits.

2020 filings • 501(c)12 • $50M-$100M nonprofits • Source year 2020

Top Officer Pay

9th percentile

$141,780

Higher top officer pay than 9% of similar nonprofits.

Top officer pay equals 0.7% of source-year revenue.

2020 filings • 501(c)12 • $50M-$100M nonprofits • Source year 2020

Asset Growth

54th percentile

3.9%

Faster asset growth than 54% of similar nonprofits.

2020 filings • 501(c)12 • $50M-$100M nonprofits • Annualized from 2019 to 2020

Revenue Growth

61st percentile

0.1%

Faster revenue growth than 61% of similar nonprofits.

2020 filings • 501(c)12 • $50M-$100M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets60th percentile

Assets

Up

$58,929,062

Up $2,209,355 (+3.9%) from 2019

Net Assets

Down

$26,716,874

Down $47,882 (-0.2%) from 2019

Liabilities

Up

$32,212,188

Up $2,257,237 (+7.5%) from 2019

Revenue And Expenses
Liabilities / Revenue55th percentileNet Margin47th percentile

Revenue

Up

$21,390,616

Up $21,930 (+0.1%) from 2019

Expenses

Up

$21,390,616

Up $71,931 (+0.3%) from 2019

Net Income

Down

$0

Down $50,001 (-100%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth54th percentile

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

$100M$50M$0Assets 2010: $43,827,836Liabilities 2010: $20,869,369Net Assets 2010: $22,958,4672010Assets 2011: $44,502,848Liabilities 2011: $21,295,298Net Assets 2011: $23,207,5502011Assets 2012: $45,228,093Liabilities 2012: $21,524,956Net Assets 2012: $23,703,1372012Assets 2013: $46,892,245Liabilities 2013: $22,064,383Net Assets 2013: $24,827,8622013Assets 2014: $48,506,347Liabilities 2014: $23,122,062Net Assets 2014: $25,384,2852014Assets 2015: $49,730,295Liabilities 2015: $24,216,861Net Assets 2015: $25,513,4342015Assets 2016: $52,186,352Liabilities 2016: $26,393,494Net Assets 2016: $25,792,8582016Assets 2017: $53,884,039Liabilities 2017: $27,162,893Net Assets 2017: $26,721,1462017Assets 2018: $55,823,193Liabilities 2018: $28,959,305Net Assets 2018: $26,863,8882018Assets 2019: $56,719,707Liabilities 2019: $29,954,951Net Assets 2019: $26,764,7562019Assets 2020: $58,929,062Liabilities 2020: $32,212,188Net Assets 2020: $26,716,8742020Assets 2021: $67,719,661Liabilities 2021: $40,550,730Net Assets 2021: $27,168,9312021Assets 2022: $67,496,179Liabilities 2022: $40,152,268Net Assets 2022: $27,343,9112022Assets 2023: $73,004,351Liabilities 2023: $45,557,753Net Assets 2023: $27,446,5982023Assets 2024: $83,346,538Liabilities 2024: $56,387,818Net Assets 2024: $26,958,7202024

Highlighted filing

2020

Assets$58,929,062
Liabilities$32,212,188
Net Assets$26,716,874
Open 2020 Filing

Operations Trend

Revenue Growth61st percentile

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

$30M$20M$10M$0Expenses 2010: $16,362,2942010Expenses 2011: $17,357,1402011Expenses 2012: $17,849,1032012Revenue 2013: $18,901,767Expenses 2013: $18,356,767Net Income 2013: $545,0002013Revenue 2014: $19,313,547Expenses 2014: $19,018,547Net Income 2014: $295,0002014Revenue 2015: $19,397,801Expenses 2015: $19,297,816Net Income 2015: $99,9852015Revenue 2016: $19,763,256Expenses 2016: $19,568,277Net Income 2016: $194,9792016Revenue 2017: $20,464,707Expenses 2017: $20,029,707Net Income 2017: $435,0002017Revenue 2018: $21,194,824Expenses 2018: $21,094,824Net Income 2018: $100,0002018Revenue 2019: $21,368,686Expenses 2019: $21,318,685Net Income 2019: $50,0012019Revenue 2020: $21,390,616Expenses 2020: $21,390,616Net Income 2020: $02020Revenue 2021: $21,615,739Expenses 2021: $21,365,739Net Income 2021: $250,0002021Revenue 2022: $23,456,102Expenses 2022: $23,256,102Net Income 2022: $200,0002022Revenue 2023: $24,313,866Expenses 2023: $24,213,866Net Income 2023: $100,0002023Revenue 2024: $24,808,365Expenses 2024: $24,808,365Net Income 2024: $02024

Highlighted filing

2020

Revenue$21,390,616
Expenses$21,390,616
Net Income$0
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Nov 4, 2021
Return Version
2020v4.1
Gross Receipts
$21,481,757
Mission and Program Overview

Mission

Allamakee-clayton electric cooperative is dedicated to enhancing the quality of life for our members, partners and neighbors by providing safe, reliable and affordable electric services and other innovative solutions.

Provide safe, reliable and affordable electric services and related innovations in technology.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$40,761,121$42,591,311▲ $1,830,190
Rtn Earn Endowment Incm Other Fnds$13,863,855$13,806,496▼ $57,359
Pd in Cap Srpls Land Bldg Eqp Fund$12,855,051$12,909,798▲ $54,747
Investments Program Related$11,476,303$11,417,500▼ $58,803
Accounts Receivable$1,842,858$1,838,567▼ $4,291
Investments Other Securities$1,368,484$1,096,941▼ $271,543
Savings and Temporary Cash Investments$478,017$954,359▲ $476,342
Inventories for Sale or Use$588,120$850,843▲ $262,723
Prepaid Expenses and Deferred Charges$182,641$155,572▼ $27,069
Cap Stk Tr Prin Current Funds$45,850$580▼ $45,270
Total Assets$56,719,707$58,929,062▲ $2,209,355
Other Assets Total$22,163$23,969▲ $1,806
Liabilities
Mortgage Notes Payable Secured by Investment Property$25,355,387$27,171,034▲ $1,815,647
Accounts Payable and Accrued Expenses$2,209,075$2,184,280▼ $24,795
Unsecured Notes Loans Payable$927,740$1,696,978▲ $769,238
Other Liabilities$1,437,591$1,130,463▼ $307,128
Escrow Account Liability$25,158$29,433▲ $4,275
Total Liabilities$29,954,951$32,212,188▲ $2,257,237
Net Assets / Fund Balance
Total Net Assets Fund Balance$26,764,756$26,716,874▼ $47,882
Total Liabilities and Net Assets / Fund Balance$56,719,707$58,929,062▲ $2,209,355

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$36,011,852$20,875,895$56,887,747
Buildings$4,412,643$1,625,303$6,037,946
Equipment$2,017,250$2,549,526$4,566,776
Land$149,566-$149,566
Investment Program Related Org$6,000--
Compensation and Service Providers
Top Officer Pay9th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Hollee MccormickExecutive VP & Gen ManagerFT$116,778$25,002$141,780
David DeckerCFOFT$103,857$33,294$137,151
Josh AbbottLead LinemenFT$109,180$25,682$134,862
Jack ReganLine Crew ForemanFT$107,359$3,300$110,659
Jeff BradleyPresidentPT$8,800-$8,800
Jerry KeleherDirector-$7,800-$7,800
Larry P LambornDirectorPT$7,550-$7,550
Alan SteffensDirectorPT$7,030-$7,030
Cindy HeffernSecretary - TreasurerPT$6,800-$6,800
Donald MccormickDirector-$6,800-$6,800
Michael GibbsVice President-$6,800-$6,800
Roger ArthurDirector-$6,550-$6,550
Arlyn FossumDirector-$6,050-$6,050

Highest Paid Contractors

ContractorServicesLocationCompensation
Asplundh Tree Expert CompanyTree Cutting And Vegetation Management1700 SOLUTIONS CENTER, Chicago, IL 60677$836,697
West Union TrenchingUnderground Trenching Services800 HWY 150 SOUTH, West Union, IA 52175$541,354
Tjader & Highstrom Utility ServicesElectric Line Construction541 INDUSTRIAL BLVD, New Richmond, WI 54017$356,183
New Age Tree ServiceTree Cutting And Vegetation Management601 E MAIN STREET, Spring Grove, MN 55974$273,100
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$21,368,047
Investment Income
$22,569
Other Revenue
$0
Change in Net Assets
$0

Audited Revenue Reconciliation

Revenue per Audited Statements
$20,222,427
Revenue Not Reported on Financial Statements
$1,168,189
Revenue Not Reported on Form 990
$0
Other Revenue Adjustments
$1,168,189
Total Revenue per Audited Statements
$20,222,427
Total Revenue per Form 990
$21,390,616
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$16,417,327
Salaries, Compensation, and Employee Benefits$4,090,558
Grants and Similar Amounts Paid$9,919
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$2,878,528
Depreciation Depletion---$2,081,124
Other Expenses---$1,057,319
Interest---$979,276
Benefits to Members---$872,812
Pension Plan Contributions---$610,952
Current Officers, Directors, Trustees, and Key Employees---$363,343
Payroll Taxes---$237,735
Grants to Domestic Orgs---$9,919
All Other Expenses---$-1,956,100
Total Functional Expenses$0$0$0$21,390,616

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$21,390,616
Expenses per Audited Statements$19,349,615
Total Expenses per Audited Statements$19,349,615
Expenses Not Reported on Financial Statements$2,041,001
Other Expense Adjustments$2,041,001
Expenses Not Reported on Form 990$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Postretirement Benefit Obligation$892,292
Deferred Credits$153,517
Customer Deposits$84,654
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 6

“Allamakee-clayton electric cooperative has two classes of members. Classes of members are class a members (traditional members of the cooperative) and class b members (municipal utilities). Class distinction is for the purpose of allocation of cooperative patronage.”

Form 990, Part VI, Section A, Line 7A

“Allamakee-clayton electric cooperative has two classes of members with each class having equal voting rights.”

Form 990, Part VI, Section A, Line 8B

“No committees of the organization have broad authority to act on behalf of the governing body.”

Form 990, Part VI, Section B, Line 11B

“Form 990 is reviewed by the executive vice president and general manager, cooperative attorney and director of finance before it is filed. The board of directors will be provided with the final draft before it is filed. The director of finance reviews and verifies all financial numbers and calculations to ensure they accurately reflect financial statement information. A questionnaire is provided by the form 990 preparer which is completed by the director of finance. Cooperative board policies and operating procedures are reviewed in the process of completing the questionnaire. The cooperative attorney reviews form 990 prior to its being filed to verify that questions are answered correctly and the form is completed properly.”

Form 990, Part VI, Section B, Line 12C

“Board governance policy no. 407, "conflicts of interest", imposes a self-policing requirement for each director to disclose situations or circumstances that pose a conflict of interest or the appearance of a conflict of interest. According to the policy, a director may request an opinion from the cooperative's general counsel to determine if a particular situation poses a conflict of interest or the appearance thereof. The policy further assigns responsibility to the board of directors and the general manager with advice of the general counsel to assure compliance with the policy. The policy requires each director to annually sign a conflict of interest disclosure statement.”

Form 990, Part VI, Section B, Line 15

“The board reviews the general manager's compensation during the annual manager performance review process. A compensation study was done in 2020 in which the board approved a non-union employee cost of living wage increase for the years 2020, 2021 and 2022.”

Form 990, Part VI, Section C, Line 19

“Documents are available upon written 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 executive vp/general manager and director of finance/admin services. 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.”

Filing and Contact Details

Filer

Filer Name
Allamakee-clayton Electric
EIN
42-0110380
Phone
5638647611
Address
PO BOX 715, POSTVILLE, IA 52162

Signing Officer

Name
Hollee Mccormick
Title
Exec. VP and General Manager
Phone
5638647611
Signed
2021-11-04
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Hollee Mccormick
Formed
1938
Legal Domicile
Ia
Voting Board Members
9
Independent Board Members
9
Employees
44
Volunteers
0

Preparer

Firm
Eide Bailly Llp
Address
200 E 10TH ST STE 500, SIOUX FALLS, SD 57104-6375
Preparer
Laurie Hanson CPA
Phone
6053391999
Supplemental Narrative

Additional Explanations

FORM 990, PART IX, LINE 24E STATEMENT OF FUNCTIONAL EXPENSES:

“The labor, pension and payroll taxes reported on lines 6-10 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:

“Memberships - net change -45,270. Retirement of capital credits -875,424. Allocation of 2020 margins in 2021 872,812.”

Financial Statement Notes

PART IV, LINE 2B:

“Allamakee-clayton electric (acec) established recare, a customer contribution fund in which members of acec can assist other members who need help paying electric bills. Acec collects contributions from members and disburses funds to beneficiaries who meet eligibility criteria as established by a recare council. The recare council consists of a representative of northeast iowa community action, a representative of shepherd of the hills, and the allamakee-clayton electric general manager. The recare council meets annually to review the program and make any changes to the program. A beneficiary must be referred by northeast iowa community action corporation, shepherd of the hills, a pastor of a church, a veteran's organization or similar social services office. Documentation on the appropriate form, along with the name of the referring agency or person is required before funds are approved for disbursement. Applications for funds are reviewed by acec staff and the general manager to determine if the applicant meets qualifications. If approved, notification of approval and the amount of funds is provided to the recipient, recare council representatives from northeast iowa community action and shepherd of the hills.”

PART X, LINE 2:

“The cooperative believes it has appropriate support for any tax positions taken affecting its annual filing requirements, and as such, does not have any uncertain tax positions that are material to the financial statements. The cooperative would recognize future accrued interest and penalties related to unrecognized tax benefits in income tax expense if such interest and penalties are incurred.”

PART XI, LINE 4B - OTHER ADJUSTMENTS:

“Other expenses netted to revenue for gaap 1,168,189.”

PART XII, LINE 4B - OTHER ADJUSTMENTS:

“Allocation of 2019 margins in 2020 872,812. Other expenses netted to revenue for gaap 1,168,189.”

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IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt60
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt70
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt80
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt925002
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt1033294
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt1125682
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt123300
IRS990/Form990PartVIISectionAGrp/PersonNm0ROGER ARTHUR
IRS990/Form990PartVIISectionAGrp/PersonNm1DONALD MCCORMICK
IRS990/Form990PartVIISectionAGrp/PersonNm2JEFF BRADLEY
IRS990/Form990PartVIISectionAGrp/PersonNm3JERRY KELEHER
IRS990/Form990PartVIISectionAGrp/PersonNm4MICHAEL GIBBS
IRS990/Form990PartVIISectionAGrp/PersonNm5ARLYN FOSSUM
IRS990/Form990PartVIISectionAGrp/PersonNm6LARRY P LAMBORN
IRS990/Form990PartVIISectionAGrp/PersonNm7CINDY HEFFERN
IRS990/Form990PartVIISectionAGrp/PersonNm8ALAN STEFFENS
IRS990/Form990PartVIISectionAGrp/PersonNm9HOLLEE MCCORMICK
IRS990/Form990PartVIISectionAGrp/PersonNm10DAVID DECKER
IRS990/Form990PartVIISectionAGrp/PersonNm11JOSH ABBOTT
IRS990/Form990PartVIISectionAGrp/PersonNm12JACK REGAN
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt06550
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt16800
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt28800
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt37800
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt46800
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt56050
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt67550
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt76800
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt87030
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt9116778
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt10103857
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt11109180
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt12107359
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt70
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt80
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt90
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt100
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt110
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt120
IRS990/Form990PartVIISectionAGrp/TitleTxt0DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt1DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt2PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4VICE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7SECRETARY - TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9EXECUTIVE VP & GEN MANAGER
IRS990/Form990PartVIISectionAGrp/TitleTxt10CFO
IRS990/Form990PartVIISectionAGrp/TitleTxt11LEAD LINEMEN
IRS990/Form990PartVIISectionAGrp/TitleTxt12LINE CREW FOREMAN
IRS990/Form990ProvidedToGvrnBodyInd01
IRS990/Form990TFiledInd01
IRS990/FormationYr01938
IRS990/FormerOfcrEmployeesListedInd00
IRS990/FSAuditedBasisGrp/SeparateBasisFinclStmtInd0X
IRS990/FSAuditedInd01
IRS990/FundraisingActivitiesInd00
IRS990/GainOrLossGrp/OtherAmt0-91141
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt09
IRS990/GrantsToDomesticOrgsGrp/TotalAmt09919
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossReceiptsAmt021481757
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
IRS990/IndependentAuditFinclStmtInd01
IRS990/IndependentVotingMemberCnt09
IRS990/IndivRcvdGreaterThan100KCnt04
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartIXInd0X
IRS990/InfoInScheduleOPartVIIInd0X
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIInd0X
IRS990/InterestGrp/TotalAmt0979276
IRS990/InventoriesForSaleOrUseGrp/BOYAmt0588120
IRS990/InventoriesForSaleOrUseGrp/EOYAmt0850843
IRS990/InvestmentIncomeGrp/ExclusionAmt0113710
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt0113710
IRS990/InvestmentInJointVentureInd01
IRS990/InvestmentsOtherSecuritiesGrp/BOYAmt01368484
IRS990/InvestmentsOtherSecuritiesGrp/EOYAmt01096941
IRS990/InvestmentsProgramRelatedGrp/BOYAmt011476303
IRS990/InvestmentsProgramRelatedGrp/EOYAmt011417500
IRS990/IRPDocumentCnt014
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt025050724
IRS990/LandBldgEquipBasisNetGrp/BOYAmt040761121
IRS990/LandBldgEquipBasisNetGrp/EOYAmt042591311
IRS990/LandBldgEquipCostOrOtherBssAmt067642035
IRS990/LegalDomicileStateCd0IA
IRS990/LessCostOthBasisSalesExpnssGrp/OtherAmt091141
IRS990/LoanOutstandingInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersAndShrGrossIncomeAmt020904443
IRS990/MembersOrStockholdersInd01
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd00
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0ALLAMAKEE-CLAYTON ELECTRIC COOPERATIVE IS DEDICATED TO ENHANCING THE QUALITY OF LIFE FOR OUR MEMBERS, PARTNERS AND NEIGHBORS BY PROVIDING SAFE, RELIABLE AND AFFORDABLE ELECTRIC SERVICES AND OTHER INNOVATIVE SOLUTIONS.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/MortgNotesPyblScrdInvstPropGrp/BOYAmt025355387
IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt027171034
IRS990/NetAssetsOrFundBalancesBOYAmt026764756
IRS990/NetAssetsOrFundBalancesEOYAmt026716874
IRS990/NetGainOrLossInvestmentsGrp/ExclusionAmt0-91141
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt0-91141
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NondeductibleContributionsInd00
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501cInd0X
IRS990/OrgDoesNotFollowFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt022163
IRS990/OtherAssetsTotalGrp/EOYAmt023969
IRS990/OtherChangesInNetAssetsAmt0-47882
IRS990/OtherExpensesGrp/Desc0COST OF POWER
IRS990/OtherExpensesGrp/Desc1DISTRIBUTION MAINTENANC
IRS990/OtherExpensesGrp/Desc2DISTRIBUTION OPERATIONS
IRS990/OtherExpensesGrp/Desc3ADMIN & GENERAL
IRS990/OtherExpensesGrp/TotalAmt010932897
IRS990/OtherExpensesGrp/TotalAmt12027450
IRS990/OtherExpensesGrp/TotalAmt21295361
IRS990/OtherExpensesGrp/TotalAmt31057319
IRS990/OtherLiabilitiesGrp/BOYAmt01437591
IRS990/OtherLiabilitiesGrp/EOYAmt01130463
IRS990/OtherSalariesAndWagesGrp/TotalAmt02878528
IRS990/OtherSourcesGrossIncomeAmt0579610
IRS990/PartialLiquidationInd00
IRS990/PayrollTaxesGrp/TotalAmt0237735
IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt012855051
IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt012909798
IRS990/PensionPlanContributionsGrp/TotalAmt0610952
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0182641
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0155572
IRS990/PrincipalOfficerNm0HOLLEE MCCORMICK
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0221000
IRS990/ProgramServiceRevenueGrp/BusinessCd1517000
IRS990/ProgramServiceRevenueGrp/BusinessCd2221000
IRS990/ProgramServiceRevenueGrp/BusinessCd3221000
IRS990/ProgramServiceRevenueGrp/Desc0ELECTRICITY SALES
IRS990/ProgramServiceRevenueGrp/Desc1OTHER INCOME
IRS990/ProgramServiceRevenueGrp/Desc2COOP CAPITAL CREDITS
IRS990/ProgramServiceRevenueGrp/Desc3EQUITY INVESTMENTS
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt019877148
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1479644
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt2536667
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt019877148
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1934617
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt2536667
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt319615
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt0454973
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt119615
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt0437786
IRS990/PYContributionsGrantsAmt00
IRS990/PYGrantsAndSimilarPaidAmt012787
IRS990/PYInvestmentIncomeAmt0133513
IRS990/PYOtherExpensesAmt016771382
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt021235173
IRS990/PYRevenuesLessExpensesAmt050001
IRS990/PYSalariesCompEmpBnftPaidAmt04096730
IRS990/PYTotalExpensesAmt021318685
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt021368686
IRS990/ReconcilationRevenueExpnssAmt00
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd01
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt013863855
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt013806496
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0478017
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0954359
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/AgentTrusteeEtcInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt04412643
IRS990ScheduleD/BuildingsGrp/DepreciationAmt01625303
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt06037946
IRS990ScheduleD/EquipmentGrp/BookValueAmt02017250
IRS990ScheduleD/EquipmentGrp/DepreciationAmt02549526
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt04566776
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt02041001
IRS990ScheduleD/ExpensesSubtotalAmt019349615
IRS990ScheduleD/ExplanationProvidedInd0X
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/InclEscrowCustodialAcctLiabInd01
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt07257782
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt12614411
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt21138720
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt3131102
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt4102227
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt553902
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt698072
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt713043
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt82241
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt96000
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc0DAIRYLAND POWER COOPERATIVE
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc1NATIONAL RURAL UTILITIES COOPERATIVE FINANCE CORPORATION
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc2NATIONAL RURAL TELECOMMUNICATIONS COOPERATIVE
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc3FEDERATED RURAL ELECTRIC INSURANCE CORPORATION
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc4RURAL ELECTRIC SUPPLY COOPERATIVE
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc5OTHER INVESTMENTS
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc6MINNOWA ALLIANCE, LLC
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc7IOWA AREA DEVELOPMENT GROUP
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc8IOWA CHOICE RENEWABLES,LLC
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc9CHARGE EV, LLC
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd0C
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd1C
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd2C
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd3C
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd4C
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd5C
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd6C
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd7C
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd8C
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd9C
IRS990ScheduleD/LandGrp/BookValueAmt0149566
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0149566
IRS990ScheduleD/OtherExpensesNotIncludedAmt02041001
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt036011852
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt020875895
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt056887747
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0892292
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1153517
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt284654
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0POSTRETIREMENT BENEFIT OBLIGATION
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1DEFERRED CREDITS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2CUSTOMER DEPOSITS
IRS990ScheduleD/OtherRevenuesNotIncludedAmt01168189
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt01168189
IRS990ScheduleD/RevenueSubtotalAmt020222427
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0ALLAMAKEE-CLAYTON ELECTRIC (ACEC) ESTABLISHED RECARE, A CUSTOMER CONTRIBUTION FUND IN WHICH MEMBERS OF ACEC CAN ASSIST OTHER MEMBERS WHO NEED HELP PAYING ELECTRIC BILLS. ACEC COLLECTS CONTRIBUTIONS FROM MEMBERS AND DISBURSES FUNDS TO BENEFICIARIES WHO MEET ELIGIBILITY CRITERIA AS ESTABLISHED BY A RECARE COUNCIL. THE RECARE COUNCIL CONSISTS OF A REPRESENTATIVE OF NORTHEAST IOWA COMMUNITY ACTION, A REPRESENTATIVE OF SHEPHERD OF THE HILLS, AND THE ALLAMAKEE-CLAYTON ELECTRIC GENERAL MANAGER. THE RECARE COUNCIL MEETS ANNUALLY TO REVIEW THE PROGRAM AND MAKE ANY CHANGES TO THE PROGRAM. A BENEFICIARY MUST BE REFERRED BY NORTHEAST IOWA COMMUNITY ACTION CORPORATION, SHEPHERD OF THE HILLS, A PASTOR OF A CHURCH, A VETERAN'S ORGANIZATION OR SIMILAR SOCIAL SERVICES OFFICE. DOCUMENTATION ON THE APPROPRIATE FORM, ALONG WITH THE NAME OF THE REFERRING AGENCY OR PERSON IS REQUIRED BEFORE FUNDS ARE APPROVED FOR DISBURSEMENT. APPLICATIONS FOR FUNDS ARE REVIEWED BY ACEC STAFF AND THE GENERAL MANAGER TO DETERMINE IF THE APPLICANT MEETS QUALIFICATIONS. IF APPROVED, NOTIFICATION OF APPROVAL AND THE AMOUNT OF FUNDS IS PROVIDED TO THE RECIPIENT, RECARE COUNCIL REPRESENTATIVES FROM NORTHEAST IOWA COMMUNITY ACTION AND SHEPHERD OF THE HILLS.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1THE COOPERATIVE BELIEVES IT HAS APPROPRIATE SUPPORT FOR ANY TAX POSITIONS TAKEN AFFECTING ITS ANNUAL FILING REQUIREMENTS, AND AS SUCH, DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS THAT ARE MATERIAL TO THE FINANCIAL STATEMENTS. THE COOPERATIVE WOULD RECOGNIZE FUTURE ACCRUED INTEREST AND PENALTIES RELATED TO UNRECOGNIZED TAX BENEFITS IN INCOME TAX EXPENSE IF SUCH INTEREST AND PENALTIES ARE INCURRED.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2OTHER EXPENSES NETTED TO REVENUE FOR GAAP 1,168,189.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt3ALLOCATION OF 2019 MARGINS IN 2020 872,812. OTHER EXPENSES NETTED TO REVENUE FOR GAAP 1,168,189.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART IV, LINE 2B:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART X, LINE 2:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2PART XI, LINE 4B - OTHER ADJUSTMENTS:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc3PART XII, LINE 4B - OTHER ADJUSTMENTS:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt042591311
IRS990ScheduleD/TotalBookValueProgramRltdAmt011417500
IRS990ScheduleD/TotalExpensesPerForm990Amt021390616
IRS990ScheduleD/TotalLiabilityAmt01130463
IRS990ScheduleD/TotalRevenuePerForm990Amt021390616
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt020222427
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt019349615
IRS990/ScheduleJRequiredInd00

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$58,929,062
Liabilities
$32,212,188
Net assets
$26,716,874
Revenue
$21,390,616
Expenses
$21,390,616
Net income
$0
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$83.3$56.4$27.0$24.8$24.8$0.00
2023Detailed filing. Detailed filing data is available for this year.$73.0$45.6$27.4$24.3$24.2$0.10
2022Detailed filing. Detailed filing data is available for this year.$67.5$40.2$27.3$23.5$23.3$0.20
2021Detailed filing. Detailed filing data is available for this year.$67.7$40.6$27.2$21.6$21.4$0.25
2020Detailed filing. Detailed filing data is available for this year.$58.9$32.2$26.7$21.4$21.4$0.00
2019Detailed filing. Detailed filing data is available for this year.$56.7$30.0$26.8$21.4$21.3$0.05
2018Detailed filing. Detailed filing data is available for this year.$55.8$29.0$26.9$21.2$21.1$0.10
2017Detailed filing. Detailed filing data is available for this year.$53.9$27.2$26.7$20.5$20.0$0.44
2016Detailed filing. Detailed filing data is available for this year.$52.2$26.4$25.8$19.8$19.6$0.19
2015Detailed filing. Detailed filing data is available for this year.$49.7$24.2$25.5$19.4$19.3$0.10
2014Detailed filing. Detailed filing data is available for this year.$48.5$23.1$25.4$19.3$19.0$0.30
2013Detailed filing. Detailed filing data is available for this year.$46.9$22.1$24.8$18.9$18.4$0.55
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$45.2$21.5$23.7$17.8
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$44.5$21.3$23.2$17.4
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$43.8$20.9$23.0$16.4