EASTERN IOWA LIGHT & POWER COOPERA… - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1935

Legal Domicile

Principal Officer

KIRK TREDE

Phone

8559383616

Tax Period

2025-01-01 to 2025-12-31

EASTERN IOWA LIGHT & POWER COOPERATIVE, founded in 1935, is a mid-sized nonprofit that reported $77.3M in total revenue in fiscal year 2025. Revenue grew 13% year-over-year, indicating healthy expansion. Expenses of $73.9M left a modest 4% surplus.

Mission

EASTERN IOWA REC IS COMMITTED TO PROVIDING SAFE, RELIABLE AND AFFORDABLE OFFERINGS TO OUR MEMBERS TO ENHANCE THEIR QUALITY OF LIFE.

Program Service Accomplishments

Program 1

PROVISION OF ELECTRICITY TO COOPERATIVE MEMBER-CONSUMERS. DURING 2025, A TOTAL OF 24,179 ACCOUNTS CONSUMED 642,475,000 KWH OF ELECTRICITY. THE COOPERATIVE OWNS, MAINTAINS, AND OPERATES 4,689 MILES OF...

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2025)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $73,331,663

Investment Income $152,364

Other Revenue $3,841,868

TOTAL REVENUE $77,325,895

Expense Breakdown

Grants Paid $0

Salaries & Benefits $931,338

Fundraising Expenses $0

Other Expenses $67,695,263

TOTAL EXPENSES $73,885,893

Year-over-Year Comparison

	2025	2024	Change
Revenue	$77,325,895	$68,530,906	+0.1%
Expenses	$73,885,893	$66,925,908	+0.1%
Net Income	$3,440,002	$1,604,998	+1.1%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

N/A

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$789,818

Total Directors

$217,469

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KENNETH PURDY	PRESIDENT	6.00	Officer Director	$13,821	$0	$13,821
KURT OLSON	VICE PRESIDENT	6.00	Officer Director	$14,032	$0	$14,032
MIKE BIXLER	SECRETARY	4.50	Officer Director	$14,582	$0	$14,582
HENRY BENTLEY	TREASURER	12.00	Officer Director	$16,232	$0	$16,232
BRAD WEISS	ASST. SECRETARY	8.00	Officer Director	$17,282	$0	$17,282
GARY KESTER	DIRECTOR	12.00	Director	$7,632	$0	$7,632
TOM HOTZ	DIRECTOR	3.00	Director	$15,632	$0	$15,632
ALLAN DUFFE	DIRECTOR	7.00	Director	$12,032	$0	$12,032
MICHAEL SHUGER	DIRECTOR	12.00	Director	$11,232	$0	$11,232
ROBERT SCHNEIDER JR	DIRECTOR	3.00	Director	$14,832	$0	$14,832
GARY BRUNS	DIRECTOR	15.00	Director	$15,232	$0	$15,232
DENISE TIMMERMAN	DIRECTOR	10.00	Director	$16,432	$0	$16,432
AUBREY LEE CARTWRIGHT JR	DIRECTOR	10.00	Director	$16,432	$0	$16,432
JOEL CARSTENSEN	DIRECTOR	8.00	Director	$14,032	$0	$14,032
KATHY WUNDERLICH	DIRECTOR	7.00	Director	$18,032	$0	$18,032
KIRK TREDE	CEO	60.00	Officer	$323,610	$186,771	$510,381
DAVID ZORICH	DIVISION MANAGER OF ACCOUN	45.00	Officer	$155,871	$47,617	$203,488
MARK ELDER	DIVISION MANAGER OF OPERAT	45.00	Highest	$153,725	$63,268	$216,993
TIM IOSSI	MANAGER OF OPERATION TECHN	50.00	Highest	$146,324	$93,384	$239,708
DON ROTH	DIVISION MANAGER OF MEMBER	50.00	Highest	$172,465	$61,426	$233,891
KEVIN BOHNSACK	SUBSTATION FOREMAN	43.30	Highest	$137,286	$74,285	$211,571
BRIAN SCHOER	SENIOR PROJECT CONSULTANT	45.00	Highest	$161,935	$51,847	$213,782

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	$77,325,895	$73,885,893	$223,249,649	$3,440,002
2024	$68,530,906	$66,925,908	$211,574,058	$1,604,998
2023	$68,261,552	$66,436,506	$202,157,384	$1,825,046
2022	$66,377,154	$65,178,441	$192,486,456	$1,198,713
2021	$62,410,526	$60,741,288	$187,914,668	$1,669,238
2020	$62,597,618	$61,084,723	$183,737,287	$1,512,895
2019	$66,490,379	$64,631,749	$175,639,074	$1,858,630

EASTERN IOWA LIGHT & POWER COOPERATIVE