Civic Intelligence

Midland Power Cooperative

990 • Fiscal year 2011 • EIN 42-1378565

Jan 01, 2011 to Dec 31, 2011 • Filed on Jul 16, 2012

Organization ProfileWWW.MIDLANDPOWER.COOP
1005 E Lincolnway50129
Siviq Scores

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

Liabilities / Assets

53rd percentile

0.56x

Higher debt load relative to assets than 53% of similar nonprofits.

2011 filings • 501(c)12 • $50M-$100M nonprofits • Source year 2011

Liabilities / Revenue

Score unavailable

No value available

Liabilities-to-revenue requires both liabilities and revenue on this filing.

Source year 2011

Net Margin

Score unavailable

No value available

Net margin requires both revenue and expenses on this filing.

Source year 2011

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2011

Asset Growth

59th percentile

5.2%

Faster asset growth than 59% of similar nonprofits.

2011 filings • 501(c)12 • $50M-$100M nonprofits • Annualized from 2010 to 2011

Revenue Growth

Score unavailable

No value available

No valid filing value is available for this score.

Balance Sheet
Liabilities / Assets53rd percentile

Assets

Up

$63,268,671

Up $3,130,754 (+5.2%) from 2010

Net Assets

Up

$27,843,851

Up $1,193,735 (+4.5%) from 2010

Liabilities

Up

$35,424,820

Up $1,937,019 (+5.8%) from 2010

Revenue And Expenses
Liabilities / RevenueScore unavailableNet MarginScore unavailable

Revenue

-

No earlier filing loaded for comparison.

Expenses

Up

$33,095,864

Up $2,290,849 (+7.4%) from 2010

Net Income

-

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset Growth59th percentile

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

$200M$150M$100M$50M$0Assets 2010: $60,137,917Liabilities 2010: $33,487,801Net Assets 2010: $26,650,1162010Assets 2011: $63,268,671Liabilities 2011: $35,424,820Net Assets 2011: $27,843,8512011Assets 2012: $70,390,557Liabilities 2012: $40,576,550Net Assets 2012: $29,814,0072012Assets 2013: $86,317,727Liabilities 2013: $47,979,777Net Assets 2013: $38,337,9502013Assets 2014: $93,132,334Liabilities 2014: $52,776,595Net Assets 2014: $40,355,7392014Assets 2015: $100,368,615Liabilities 2015: $57,267,906Net Assets 2015: $43,100,7092015Assets 2016: $108,839,577Liabilities 2016: $61,559,005Net Assets 2016: $47,280,5722016Assets 2017: $113,373,280Liabilities 2017: $61,873,673Net Assets 2017: $51,499,6072017Assets 2018: $124,903,479Liabilities 2018: $66,079,237Net Assets 2018: $58,824,2422018Assets 2019: $127,845,104Liabilities 2019: $64,698,664Net Assets 2019: $63,146,4402019Assets 2020: $136,118,591Liabilities 2020: $68,730,734Net Assets 2020: $67,387,8572020Assets 2021: $144,949,480Liabilities 2021: $74,261,006Net Assets 2021: $70,688,4742021Assets 2022: $157,689,289Liabilities 2022: $80,968,907Net Assets 2022: $76,720,3822022Assets 2023: $162,700,513Liabilities 2023: $81,658,735Net Assets 2023: $81,041,7782023Assets 2024: $169,295,526Liabilities 2024: $81,130,817Net Assets 2024: $88,164,7092024

Highlighted filing

2011

Assets$63,268,671
Liabilities$35,424,820
Net Assets$27,843,851
Open 2011 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$80M$60M$40M$20M$0Expenses 2010: $30,805,0152010Expenses 2011: $33,095,8642011Expenses 2012: $34,440,7722012Revenue 2013: $45,609,057Expenses 2013: $43,804,040Net Income 2013: $1,805,0172013Revenue 2014: $45,648,559Expenses 2014: $44,053,091Net Income 2014: $1,595,4682014Revenue 2015: $46,437,526Expenses 2015: $43,875,694Net Income 2015: $2,561,8322015Revenue 2016: $49,620,800Expenses 2016: $47,059,063Net Income 2016: $2,561,7372016Revenue 2017: $54,053,998Expenses 2017: $51,235,893Net Income 2017: $2,818,1052017Revenue 2018: $56,414,515Expenses 2018: $52,543,908Net Income 2018: $3,870,6072018Revenue 2019: $52,341,800Expenses 2019: $49,342,072Net Income 2019: $2,999,7282019Revenue 2020: $52,323,217Expenses 2020: $49,322,524Net Income 2020: $3,000,6932020Revenue 2021: $53,511,137Expenses 2021: $51,159,361Net Income 2021: $2,351,7762021Revenue 2022: $57,765,405Expenses 2022: $54,339,214Net Income 2022: $3,426,1912022Revenue 2023: $57,409,878Expenses 2023: $54,154,849Net Income 2023: $3,255,0292023Revenue 2024: $60,066,585Expenses 2024: $54,373,167Net Income 2024: $5,693,4182024

Highlighted filing

2011

Revenue-
Expenses$33,095,864
Net Income-
Open 2011 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2011 to Dec 31, 2011
Signed
Jul 16, 2012
Return Version
2011v1.2
Gross Receipts
$33,373,542
Mission and Program Overview

Mission

Sale of electricity to approximately 8,850 members located in central iowa to generate income for the sole purpose of meeting losses and expenses.

Filing and Contact Details

Filer

EIN
42-1378565
Raw XML AppendixShowing 400 of 493 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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IRS990ScheduleD/Form990ScheduleDPartXIV/Explanation0THE COOPERATIVE HAS QUALIFIED AS A TAX-EXEMPT ORGANIZATION, UNDER SECTION 501(C)(12) OF THE INTERNAL REVENUE CODE, AND ACCORDINGLY, INCOME TAXES HAVE NOT BEEN RECORDED IN THE ACCOMPANYING STATEMENTS. THE COOPERATIVE ADOPTED THE INCOME TAX STANDARD FOR UNCERTAIN TAX POSITIONS ON JANUARY 1, 2009. AS A RESULT OF IMPLEMENTATION, THE COOPERATIVE EVALUATED ITS TAX POSITIONS AND DETERMINED THAT IT HAS NO UNCERTAIN TAX POSITIONS AS OF DECEMBER 31, 2011. WITH FEW EXCEPTIONS, THE COOPERATIVE IS NO LONGER SUBJECT TO FEDERAL, STATE, OR LOCAL INCOME TAX EXAMINATIONS BY TAX AUTHORITIES FOR YEARS BEFORE 2008.
IRS990ScheduleD/Form990ScheduleDPartXIV/Explanation1RETIREMENT OF CAPITAL CREDITS -569,416. CHANGES IN OTHER EQUITIES 60,746. PATRONAGE DIVIDENDS PAID 1,702,401. TOTAL TO SCHEDULE D, PART XI, LINE 8: 1,193,731.
IRS990ScheduleD/Form990ScheduleDPartXIV/Explanation2COSTS INCLUDED AS EXPENSES ON 990 AND REVENUES ON FINANCIAL STATEMENTS 28,279.
IRS990ScheduleD/Form990ScheduleDPartXIV/Explanation3COSTS INCLUDED AS EXPENSES ON 990 AND REVENUES ON FINANCIAL STATEMENTS 28,279. PATRONAGE DIVIDENDS PAID 1,702,401.
IRS990ScheduleD/Form990ScheduleDPartXIV/Identifier0DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48:
IRS990ScheduleD/Form990ScheduleDPartXIV/Identifier1PART XI, LINE 8 - OTHER ADJUSTMENTS:
IRS990ScheduleD/Form990ScheduleDPartXIV/Identifier2PART XII, LINE 4B - OTHER ADJUSTMENTS:
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IRS990ScheduleD/InvestmentsProgramRelated/Description5OTHER INVESTMENTS
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IRS990ScheduleD/Land/BookValue0264551
IRS990ScheduleD/Land/OtherCostOrOtherBasis0264551
IRS990ScheduleD/OtherAmount01193731
IRS990ScheduleD/OtherExpensesNotIncluded01730680
IRS990ScheduleD/OtherLandBuildings/BookValue02337783
IRS990ScheduleD/OtherLandBuildings/Depreciation05461
IRS990ScheduleD/OtherLandBuildings/OtherCostOrOtherBasis02343244
IRS990ScheduleD/OtherLiabilities/Amount0135668
IRS990ScheduleD/OtherLiabilities/Amount1817945
IRS990ScheduleD/OtherLiabilities/Description0CONSUMER DEPOSITS
IRS990ScheduleD/OtherLiabilities/Description1ACCRUED POST RETIREMENT BENEFITS
IRS990ScheduleD/OtherRevenuesNotIncluded028279
IRS990ScheduleD/RevenueNotRptdF99000
IRS990ScheduleD/RevenueNotRptdOnFinStmt028279
IRS990ScheduleD/RevenueSubtotal033067589
IRS990ScheduleD/TotalAdjustments01193731
IRS990ScheduleD/TotalExpenses033095864
IRS990ScheduleD/TotalExpensesPerForm990033095864
IRS990ScheduleD/TotalOfAmounts0953613
IRS990ScheduleD/TotalOfBookValueLandBuildings046248863
IRS990ScheduleD/TotalOfBookValueProgramRelated09111633
IRS990ScheduleD/TotalRevenue033095868
IRS990ScheduleD/TotalRevenuePerForm990033095868
IRS990ScheduleD/TotExpensesEtcAuditedFinclStmt031365184
IRS990ScheduleD/TotRevenueEtcAuditedFinclStmt033067589
IRS990ScheduleJ/BoardOrCommitteeApproval0X
IRS990ScheduleJ/CompensationSurvey0X
IRS990ScheduleJ/EquityBasedCompArrangement00
IRS990ScheduleJ/Form990ScheduleJPartII/BaseCompensationFilingOrg0151223
IRS990ScheduleJ/Form990ScheduleJPartII/BonusFilingOrg00
IRS990ScheduleJ/Form990ScheduleJPartII/BonusRelatedOrgs00
IRS990ScheduleJ/Form990ScheduleJPartII/CompBasedOnRelatedOrgs00
IRS990ScheduleJ/Form990ScheduleJPartII/CompReportPrior990FilingOrg00
IRS990ScheduleJ/Form990ScheduleJPartII/CompReportPrior990RelatedOrgs00
IRS990ScheduleJ/Form990ScheduleJPartII/DeferredCompFilingOrg01523
IRS990ScheduleJ/Form990ScheduleJPartII/DeferredCompRelatedOrgs00
IRS990ScheduleJ/Form990ScheduleJPartII/NamePerson0WILLIAM MCKIM
IRS990ScheduleJ/Form990ScheduleJPartII/NontaxableBenefitsFilingOrg018570
IRS990ScheduleJ/Form990ScheduleJPartII/NontaxableBenefitsRelatedOrgs00
IRS990ScheduleJ/Form990ScheduleJPartII/OtherCompensationFilingOrg00
IRS990ScheduleJ/Form990ScheduleJPartII/OtherCompensationRelatedOrgs00
IRS990ScheduleJ/Form990ScheduleJPartII/TotalCompensationFilingOrg0171316
IRS990ScheduleJ/Form990ScheduleJPartII/TotalCompensationRelatedOrgs00
IRS990/ScheduleJRequired01
IRS990ScheduleJ/SeverancePayment00
IRS990ScheduleJ/SupplementalNonqualRetirePlan00
IRS990ScheduleO/GeneralExplanation/Explanation0ALL ELECTRIC CUSTOMERS OF THE COOPERATIVE ARE VOTING MEMBERS OF THE COOPERATIVE. EACH MEMBER HAS ONE VOTE AT THE ANNUAL MEETING OF THE MEMBERSHIP.
IRS990ScheduleO/GeneralExplanation/Explanation1MEMBERS OF THE BOARD OF DIRECTORS ARE ELECTED TO THREE YEAR TERMS BY THE MEMBERS OF THE COOPERATIVE AT THE COOPERATIVE'S ANNUAL MEETING.
IRS990ScheduleO/GeneralExplanation/Explanation2ANY MERGERS OR AMENDMENTS TO THE ARTICLES OF INCORPORATION OR BY-LAWS ARE SUBJECT TO APPROVAL BY THE COOPERATIVE'S MEMBERS.
IRS990ScheduleO/GeneralExplanation/Explanation3THE 990 RETURN WAS PRESENTED AT THE JULY MEETING OF THE BOARD OF DIRECTORS AND WAS APPROVED BY THE BOARD BEFORE IT WAS FILED.
IRS990ScheduleO/GeneralExplanation/Explanation4DIRECTORS ARE REQUIRED TO FILL OUT A CONFLICT OF INTEREST DISCLOSURE STATEMENT ANNUALLY.
IRS990ScheduleO/GeneralExplanation/Explanation5MIDLAND POWER COOPERATIVE'S BOARD OF DIRECTORS PERFORMS AN ANNUAL REVIEW OF THE GENERAL MANAGER USING NRECA SURVEY DATA TO DETERMINE THE RATE OF PAY. THE GENERAL MANAGER USES THE SAME NRECA DATA THE BOARD USES IN DETERMING THE SALARIES OF THE KEY EMPLOYEES AND HOURLY EMPLOYEES THAT ARE NON-UNION.
IRS990ScheduleO/GeneralExplanation/Explanation6ANNUAL REPORTS ARE DISTRIBUTED AT THE ANNUAL MEETING THAT CONTAIN THE FINANCIAL STATEMENTS, ALL OTHER POLICIES ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/GeneralExplanation/Explanation7RETIREMENT OF CAPITAL CREDITS -569,416. CHANGES IN OTHER EQUITIES 60,746. PATRONAGE DIVIDENDS PAID 1,702,401. TOTAL TO FORM 990, PART XI, LINE 5: 1,193,731.
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 AND IN PARTS XI AND XIII ON SCHEDULE D.

Document Assets

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Filings

Displayed year

2011 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$63,268,671
Liabilities
$35,424,820
Net assets
$27,843,851
Revenue
-
Expenses
$33,095,864
Net income
-
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$169$81.1$88.2$60.1$54.4$5.69
2023Detailed filing. Detailed filing data is available for this year.$163$81.7$81.0$57.4$54.2$3.26
2022Detailed filing. Detailed filing data is available for this year.$158$81.0$76.7$57.8$54.3$3.43
2021Detailed filing. Detailed filing data is available for this year.$145$74.3$70.7$53.5$51.2$2.35
2020Detailed filing. Detailed filing data is available for this year.$136$68.7$67.4$52.3$49.3$3.00
2019Detailed filing. Detailed filing data is available for this year.$128$64.7$63.1$52.3$49.3$3.00
2018Detailed filing. Detailed filing data is available for this year.$125$66.1$58.8$56.4$52.5$3.87
2017Detailed filing. Detailed filing data is available for this year.$113$61.9$51.5$54.1$51.2$2.82
2016Detailed filing. Detailed filing data is available for this year.$109$61.6$47.3$49.6$47.1$2.56
2015Summary only. Only limited summary data is available for this year.$100$57.3$43.1$46.4$43.9$2.56
2014Summary only. Only limited summary data is available for this year.$93.1$52.8$40.4$45.6$44.1$1.60
2013Detailed filing. Detailed filing data is available for this year.$86.3$48.0$38.3$45.6$43.8$1.81
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$70.4$40.6$29.8$34.4
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$63.3$35.4$27.8$33.1
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$60.1$33.5$26.7$30.8