Southwest Iowa REC
Revenue
$14.7m
year to 31 December 2025
Expenses
$14m
year to 31 December 2025
Total assets
$51.5m
$30.4m liabilities
Net assets
$21.1m
assets less liabilities
Directors and trustees
11
4.9 years on average
Staff
33
employees, year to 31 December 2025
Left since last filing
0
no seats appear to have opened
Officers and senior staff
7
named in Part VII
Southwest Iowa REC's network
11 people8 organisationsi11 people and 8 organisations on this map.The large node is the subject of this page. Solid lines are what the register itself records (11). Violet dotted lines (8) are likely: the same full name sits on the current board of another organisation in the same register and region. Form 990 filings give names without a person identifier; SEC insider filings carry a CIK. It may be a different person.The board
11 listediTime on the board is observed from the annual filings: the IRS files no appointment date, so the bar counts years from the first filing the person appears on - a lower bound, not a filed start date. Names are exactly as filed. The IRS publishes no person identifier, so this edition does not yet link a person across organisations in the tables. The network map shows same-name matches as likely links only, never as confirmed.Time served and departures are observed across annual filings. Observed time served is a lower bound - a member may have joined before the first year on record. The organisation reported 10 voting members of its governing body on its latest Form 990 Part VI, which matches the board listed here.| Name | Role as filed | Since | On the board |
|---|---|---|---|
| Adam Boswell | Director | 2024 | 2 yrs |
| Alan Spencer | Director | 2022 | 4 yrs |
| Bonnie Larson | Director | 2023 | 3 yrs |
| Dale Walkup | Director | 2020 | 6 yrs |
| Dana Morgan | Director | 2020 | 6 yrs |
| Jason Smith | Treasurer | 2020 | 6 yrs |
| Justin Akers | Director | 2025 | 1 yr |
| Kay Fast-Deyoe | Company secretary | 2023 | 3 yrs |
| Marilyn Werner | President | 2020 | 6 yrs |
| Mark Herzberg | Vice President | 2020 | 6 yrs |
| Terry Barnes | Director | 2020 | 6 yrs |
Officers and senior leadership
7 listediNamed in Part VII as officers, key employees or highest-compensated staff - not board members, shown for completeness.| Name | Title as filed | On the filings |
|---|---|---|
| Duane Schafer | Director of Operations | 2021 |
| Justin Murphy | Director of Operations | since 2023 |
| Lester Helvie | Foreman | 2025 |
| Lucas Brockshus | Lineman | 2025 |
| Phil Kinser | CEO/General Manager | since 2020 |
| Sarah Newton | Director of Finance & Admin. Serv. | 2025 |
| Shayne Larson | Lineman | 2025 |
Pay and hours
year to 31 December 2025iFrom Part VII of the Form 990: compensation reported for each officer, director, trustee, key employee and highest-paid staff member, and the average hours a week they report. Most board members are unpaid; a blank means nothing was reported. Pay from related organisations is shown separately.| Name | Title as filed | Hours a week | Pay from the organisation | Related organisations | Other |
|---|---|---|---|---|---|
| Phil Kinser | CEO/General Manager | 40 | $196k | $42k | |
| Justin Murphy | Director of Operations | 40 | $111k | $37k | |
| Shayne Larson | Lineman | 44 | $105k | $35k | |
| Lucas Brockshus | Lineman | 45 | $102k | $30k | |
| Lester Helvie | Foreman | 43 | $101k | $36k | |
| Sarah Newton | Director of Finance & Admin. Serv. | 40 | $101k | $35k | |
| Marilyn Werner | President | 6.41 | $10k | ||
| Kay Fast-Deyoe | Secretary | 3.19 | $6k | ||
| Adam Boswell | Director | 2.71 | $6k | ||
| Bonnie Larson | Director | 2.33 | $5k | ||
| Dana Morgan | Director | 1.88 | $5k | ||
| Terry Barnes | Director | 3.64 | $5k | ||
| Mark Herzberg | Vice President | 2.9 | $4k | ||
| Dale Walkup | Director | 2 | $4k | ||
| Alan Spencer | Director | 1.62 | $4k | ||
| Jason Smith | Treasurer | 2.16 | $3k | ||
| Justin Akers | Director | 2.15 | $1k |
About
- Legal name
- Southwest Iowa Rec
- EIN
- 200538386
- Address
- 2248 Avenue of Industries, Corning, IA, 50841-8522
- State
- Iowa
- Mission
- To distribute electric energy to our member-consumers of rural residential, small commercial, large power and public authority users in a manner consistent with sound business practices. (as filed on the Form 990)
- Activity (NTEE)
- M20 Public safety, disaster preparedness and relief
- IRS classification
- 501(c)12 (tax-exempt under section 501(c)(3) where shown)
- Classified purpose
- Public Safety, Disaster Preparedness & Relief
- Size band
- 9 (IRS master file code)
- Formed
- 2004
- Principal officer
- Phil Kinser (as named on the Form 990)
- IRS ruling date
- 1 October 2004
- Status
- Code 01 (unconditional exemption)
- Form 990 filings on record
- 6, latest 2025
Most connected
Longest observed on the filings
≥6years on the filingsDale Walkup
≥6years on the filingsDana Morgan
≥6years on the filingsJason Smith
≥6years on the filingsMarilyn Werner
Latest return
year to 31 December 2025iFigures from the newest Form 990 or 990-EZ in the IRS e-file releases of 2025 and 2026, for the year ending 31 December 2025. US dollars, as filed.- Total assets
- $51.5m
- Total liabilities
- $30.4m
- Net assets or fund balances
- $21.1m
- Contributions and grants received
- $0
- Program service revenue
- $13.9m
- Employees
- 33
Filed finances
1 yeariTotals as filed on the IRS Form 990 (revenue and expenses), by tax year.| Tax year | Total revenue | Total expenses | Surplus or deficit |
|---|---|---|---|
| 2024 | $14.2m | $13.1m | $1.1m |
As filed on the IRS Form 990. US dollars.