Civic Intelligence

Boone Valley Electric Cooperative

990 • Fiscal year 2019 • EIN 42-0147800

Jan 01, 2019 to Dec 31, 2019 • Filed on Mar 21, 2020

Organization ProfileN/A
PO Box 71Renwick, IA 50577

(515) 824-3565

Siviq Scores

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

Liabilities / Assets

32nd percentile

0.09x

Higher debt load relative to assets than 32% of similar nonprofits.

2019 filings • 501(c)12 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

36th percentile

0.47x

Higher debt load relative to revenue than 36% of similar nonprofits.

2019 filings • 501(c)12 • $1M-$5M nonprofits • Source year 2019

Net Margin

90th percentile

34%

Higher net margin than 90% of similar nonprofits.

2019 filings • 501(c)12 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

80th percentile

$12,512

Higher top officer pay than 80% of similar nonprofits.

Top officer pay equals 6.1% of source-year revenue.

2019 filings • 501(c)12 • $1M-$5M nonprofits • Source year 2019

Asset Growth

84th percentile

7.6%

Faster asset growth than 84% of similar nonprofits.

2019 filings • 501(c)12 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

5th percentile

-25%

Faster revenue growth than 5% of similar nonprofits.

2019 filings • 501(c)12 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets32nd percentile

Assets

Up

$1,134,701

Up $79,714 (+7.6%) from 2018

Net Assets

Up

$1,037,439

Up $58,716 (+6.0%) from 2018

Liabilities

Up

$97,262

Up $20,998 (+28%) from 2018

Revenue And Expenses
Liabilities / Revenue36th percentileNet Margin90th percentile

Revenue

Down

$206,315

Down $70,373 (-25%) from 2018

Expenses

Up

$137,064

Up $1,993 (+1.5%) from 2018

Net Income

Down

$69,251

Down $72,366 (-51%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth84th percentile

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

$2.0M$1.5M$1.0M$500K$0Assets 2011: $676,519Liabilities 2011: $66,357Net Assets 2011: $610,1622011Assets 2012: $692,839Liabilities 2012: $64,019Net Assets 2012: $628,8202012Assets 2013: $718,310Liabilities 2013: $74,784Net Assets 2013: $643,5262013Assets 2014: $762,486Liabilities 2014: $74,965Net Assets 2014: $687,5212014Assets 2015: $774,422Liabilities 2015: $59,688Net Assets 2015: $714,7342015Assets 2016: $872,697Liabilities 2016: $86,662Net Assets 2016: $786,0352016Assets 2017: $928,219Liabilities 2017: $88,036Net Assets 2017: $840,1832017Assets 2018: $1,054,987Liabilities 2018: $76,264Net Assets 2018: $978,7232018Assets 2019: $1,134,701Liabilities 2019: $97,262Net Assets 2019: $1,037,4392019Assets 2020: $1,285,422Liabilities 2020: $78,385Net Assets 2020: $1,207,0372020Assets 2021: $1,283,872Liabilities 2021: $61,595Net Assets 2021: $1,222,2772021Assets 2022: $1,468,952Liabilities 2022: $75,672Net Assets 2022: $1,393,2802022Assets 2023: $1,354,682Liabilities 2023: $67,356Net Assets 2023: $1,287,3262023Assets 2024: $1,482,064Liabilities 2024: $86,795Net Assets 2024: $1,395,2692024Assets 2025: $1,519,440Liabilities 2025: $79,851Net Assets 2025: $1,439,5892025

Highlighted filing

2019

Assets$1,134,701
Liabilities$97,262
Net Assets$1,037,439
Open 2019 Filing

Operations Trend

Revenue Growth5th percentile

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

$400K$300K$200K$100K$0Revenue 2011: $194,501Expenses 2011: $120,039Net Income 2011: $74,4622011Revenue 2012: $161,843Expenses 2012: $106,513Net Income 2012: $55,3302012Revenue 2013: $148,797Expenses 2013: $106,759Net Income 2013: $42,0382013Revenue 2014: $144,208Expenses 2014: $105,549Net Income 2014: $38,6592014Revenue 2015: $158,476Expenses 2015: $120,104Net Income 2015: $38,3722015Revenue 2016: $211,355Expenses 2016: $124,781Net Income 2016: $86,5742016Revenue 2017: $160,753Expenses 2017: $105,727Net Income 2017: $55,0262017Revenue 2018: $276,688Expenses 2018: $135,071Net Income 2018: $141,6172018Revenue 2019: $206,315Expenses 2019: $137,064Net Income 2019: $69,2512019Revenue 2020: $228,288Expenses 2020: $105,659Net Income 2020: $122,6292020Revenue 2021: $235,699Expenses 2021: $157,710Net Income 2021: $77,9892021Revenue 2022: $373,304Expenses 2022: $158,198Net Income 2022: $215,1062022Revenue 2023: $228,181Expenses 2023: $154,836Net Income 2023: $73,3452023Revenue 2024: $223,467Expenses 2024: $118,141Net Income 2024: $105,3262024Revenue 2025: $205,405Expenses 2025: $147,886Net Income 2025: $57,5192025

Highlighted filing

2019

Revenue$206,315
Expenses$137,064
Net Income$69,251
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Mar 21, 2020
Return Version
2019v5.0
Gross Receipts
$1,005,781
Mission and Program Overview

Mission

Provide affordable electric service.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$702,531$763,820▲ $61,289
Pd in Cap Srpls Land Bldg Eqp Fund$275,607$273,039▼ $2,568
Savings and Temporary Cash Investments$198,173$200,679▲ $2,506
Land, Buildings, and Equipment, Net$130,587$191,441▲ $60,854
Cash and Non-Interest-Bearing Accounts$185,092$143,123▼ $41,969
Accounts Receivable$47,201$42,232▼ $4,969
Inventories for Sale or Use$4,730$4,730→ $0
Prepaid Expenses and Deferred Charges$198$2,445▲ $2,247
Cap Stk Tr Prin Current Funds$585$580▼ $5
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Total Assets$1,054,987$1,134,701▲ $79,714
Other Assets Total$489,006$550,051▲ $61,045
Liabilities
Accounts Payable and Accrued Expenses$68,990$89,758▲ $20,768
Other Liabilities$7,274$7,504▲ $230
Total Liabilities$76,264$97,262▲ $20,998
Net Assets / Fund Balance
Total Net Assets Fund Balance$978,723$1,037,439▲ $58,716
Total Liabilities and Net Assets / Fund Balance$1,054,987$1,134,701▲ $79,714

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$191,441$441,733$633,174
Other Assets Org$550,051--
Compensation and Service Providers
Top Officer Pay80th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Curtis MeinkeDirectorPT$12,512$12,512
Doug MartinSecretary-$1,660$1,660
Dave OdlandPresident-$488$488
Travis TateDirector-$465$465
Tom HuntleyDirector-$384$384
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$70,085
Other Revenue
$136,230
Change in Net Assets
$69,251
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$120,496
Salaries, Compensation, and Employee Benefits$16,568
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$15,509--$15,509
Depreciation Depletion$9,860--$9,860
Fees for Services Accounting$6,565--$6,565
All Other Expenses$6,147--$6,147
Other Expenses$4,880--$4,880
Insurance$2,922--$2,922
Payroll Taxes$1,059--$1,059
Advertising$100--$100
Total Functional Expenses$137,064$0$0$137,064
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
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Curtis MeinkeDirectorOffice RentNo$17,000

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Accrued Expenses$4,733
Customer Deposits$2,771
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Audit committee
No
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 6: Explanation of Classes of Members or Shareholder

“Boone Valley Electric Cooperative is a member owned rural electric cooperative utility serving 101 members at December 31, 2019..”

Form 990, Part VI, Line 11B: Form 990 Review Process

“The return is reviewed by the board of directors and manager.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“The organization's governing documents and financial statements are available upon request.”

Filing and Contact Details

Filer

Filer Name
Boone Valley Electric Cooperative
EIN
42-0147800
Phone
5158243565
Address
PO Box 71, Renwick, IA 50577

Signing Officer

Name
Dave Odland
Title
President
Signed
2020-03-21
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Curtis Meinke
Formed
1936
Legal Domicile
Ia
Voting Board Members
5
Independent Board Members
5
Employees
2

Preparer

Firm
Tp Anderson & Company Pc Cpas
Address
528 Sumner Avenue, HUMBOLDT, IA 50548-0509
Preparer
Steven D Hutchinson
Phone
5153323466
Supplemental Narrative

Additional Explanations

Other Changes In Net Assets Or Fund Balances - Other Decreases

“Membership paid = -$5”

Other Changes In Net Assets Or Fund Balances - Other Decreases

“Patronage capital paid = -$13174”

Financial Statement Notes

Part X : FIN48 Footnote

“The organization is exempt from income taxes in accordance with Section 5012(c)12 of the Internal Revenue Code. As of December 31, 2019, the Company had not identified any uncertain income tax positions that would give rise to the recognition of income tax assets or liabilities under the new generally accepted accounting principles threshold. Because no uncertain income tax positions have been identified, no accrued interest or penalties have been accrued as of December 31, 2019. The Company files income tax returns in the U.S. federal jurisdictions. No returns have been subject to audit in any jurisdictions in the last 3 years and the statute of limitations for federal returns is generally three years. Management continues to monitor changes in tax law and new authoritative ruling for possible effects on the Company.”

Raw XML Appendix361 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/SavingsAndTempCashInvstGrp/BOYAmt0198173
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0200679
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/EquipmentGrp/BookValueAmt0191441
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0441733
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0633174
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0550051
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0Investment in associated organizations
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt04733
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt12771
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Accrued Expenses
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Customer Deposits
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The organization is exempt from income taxes in accordance with Section 5012(c)12 of the Internal Revenue Code. As of December 31, 2019, the Company had not identified any uncertain income tax positions that would give rise to the recognition of income tax assets or liabilities under the new generally accepted accounting principles threshold. Because no uncertain income tax positions have been identified, no accrued interest or penalties have been accrued as of December 31, 2019. The Company files income tax returns in the U.S. federal jurisdictions. No returns have been subject to audit in any jurisdictions in the last 3 years and the statute of limitations for federal returns is generally three years. Management continues to monitor changes in tax law and new authoritative ruling for possible effects on the Company.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X : FIN48 Footnote
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0191441
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0550051
IRS990ScheduleD/TotalLiabilityAmt07504
IRS990/ScheduleJRequiredInd0false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm0Curtis Meinke
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0Director
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd0false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt017000
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0Office Rent
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Boone Valley Electric Cooperative is a member owned rural electric cooperative utility serving 101 members at December 31, 2019..
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The return is reviewed by the board of directors and manager.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The organization's governing documents and financial statements are available upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Membership paid = -$5
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Patronage capital paid = -$13174
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 6: Explanation of Classes of Members or Shareholder
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Other Changes In Net Assets Or Fund Balances - Other Decreases
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Other Changes In Net Assets Or Fund Balances - Other Decreases
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt01054987
IRS990/TotalAssetsEOYAmt01134701
IRS990/TotalAssetsGrp/BOYAmt01054987
IRS990/TotalAssetsGrp/EOYAmt01134701
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt00
IRS990/TotalEmployeeCnt02
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0137064
IRS990/TotalFunctionalExpensesGrp/TotalAmt0137064
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt076264
IRS990/TotalLiabilitiesEOYAmt097262
IRS990/TotalLiabilitiesGrp/BOYAmt076264
IRS990/TotalLiabilitiesGrp/EOYAmt097262
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0978723
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01037439
IRS990/TotalProgramServiceExpensesAmt0137064
IRS990/TotalProgramServiceRevenueAmt00
IRS990/TotalReportableCompFromOrgAmt015509
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0206315
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0206315
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01054987
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01134701
IRS990/TravelGrp/TotalAmt00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt01431 160th Street
IRS990/USAddress/CityNm0Goldfield
IRS990/USAddress/StateAbbreviationCd0IA
IRS990/USAddress/ZIPCd050542
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02020-09-23 17:36:50Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Dave Odland
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-03-21
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Boone Valley Electric Cooperative
ReturnHeader/Filer/BusinessNameControlTxt0BOON
ReturnHeader/Filer/EIN0420147800
ReturnHeader/Filer/PhoneNum05158243565
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO Box 71
ReturnHeader/Filer/USAddress/CityNm0Renwick
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IA
ReturnHeader/Filer/USAddress/ZIPCd050577
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0391894710
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0TP ANDERSON & COMPANY PC CPAS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0528 Sumner Avenue
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0HUMBOLDT
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0505480509
ReturnHeader/PreparerPersonGrp/PhoneNum05153323466
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Steven D Hutchinson
ReturnHeader/ReturnTs02020-03-25T14:54:05-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02019-01-01
ReturnHeader/TaxPeriodEndDt02019-12-31
ReturnHeader/TaxYr02019

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,134,701
Liabilities
$97,262
Net assets
$1,037,439
Revenue
$206,315
Expenses
$137,064
Net income
$69,251
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$1.52$0.08$1.44$0.21$0.15$0.06
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.48$0.09$1.40$0.22$0.12$0.11
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.35$0.07$1.29$0.23$0.15$0.07
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.47$0.08$1.39$0.37$0.16$0.22
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.28$0.06$1.22$0.24$0.16$0.08
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.29$0.08$1.21$0.23$0.11$0.12
2019Detailed filing. Detailed filing data is available for this year.$1.13$0.10$1.04$0.21$0.14$0.07
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.05$0.08$0.98$0.28$0.14$0.14
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.93$0.09$0.84$0.16$0.11$0.06
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.87$0.09$0.79$0.21$0.12$0.09
2015Summary only. Only limited summary data is available for this year.$0.77$0.06$0.71$0.16$0.12$0.04
2014Summary only. Only limited summary data is available for this year.$0.76$0.07$0.69$0.14$0.11$0.04
2013Summary only. Only limited summary data is available for this year.$0.72$0.07$0.64$0.15$0.11$0.04
2012Summary only. Only limited summary data is available for this year.$0.69$0.06$0.63$0.16$0.11$0.06
2011Summary only. Only limited summary data is available for this year.$0.68$0.07$0.61$0.19$0.12$0.07