IRS FORM 990

What is the IRS Form 990?

Southern Iowa Electric Cooperative has an Internal Revenue Service (IRS) 501(c)(12) tax­ exempt designation and is organized as a "not-for-profit" cooperative. Most entities exempt from paying income tax under section 501(a) of the Internal Revenue Code are required to file an information tax return each year. Your Cooperative files an IRS Form 990 tax return which is made available to the general public, as required by the IRS. Form 990 provides details on the organization's finances, compensation of certain individuals, governance, and other information.

Director's Responsibility

Directors and designated staff members are required to complete an annual IRS Form 990 questionnaire which is processed by the Cooperative's Auditor and included within the IRS filing of Form 990 for the specific year. Typically, this task occurs in November, December, or January.

Where can I find the 990?

Members of the Cooperative, Directors, and the general public may review 3 filing years of Form 990 by navigating on the internet (online) to:

                                                guidestar.org

and searching for "Southern Iowa Electric Cooperative". Your search bar should read:

                           https://www.guidestar.org/profile/42-0536190

It is important to note that there is typically an 18-24 month delay between the date of filing and the Form 990 tax return being available on guidestar.org

What information can I find?

Summary: Summary information about the organization's activities, including governance, revenue, expenses, assets and liabilities are found throughout Part I (one) on the first page.
Balance Sheet: Part X (ten) of the Form 990 provides a detailed breakdown of the organization's balance sheet, including assets, liabilities and the net assets, or Member's equity balance.
Compensation: All organizations filing a Form 990 are required to complete Part VII (seven), and when applicable, Schedule J, relating to the organization's current and former officers, directors, key employees and highest compensated employees and current independent contractors for the calendar year ending with or within the organization's tax year. In some cases, reporting on Part VII and Schedule J is required if compensation exceeds certain thresholds.
Supplemental Information to Form 990: Organizations use Schedule 0 to provided narrative information on data provided elsewhere in the Form 990 and to provide additional information.