2023-06-30T14:03:49-05:00 2022-12-31 450250958 EIDE BAILLY LLP 200 E 10TH ST STE 500 SIOUX FALLS SD 571046375 990 2022-01-01 460211846 BON HOMME-YANKTON ELECTRIC ASSOCIATION BONH 6054632507 PO BOX 158 TABOR SD 570630158 STEPHANIE HORST GENERAL MANAGER 6054632507 2023-06-23 1 STEPHANIE HORST 999009999 1 LAURIE HANSON CPA P00851848 6053391999 2023-06-22 3 AAL1 IAL1 2022 2023-04-26 12:10:37Z PAUL VOIGT PO BOX 158 TABOR SD 570630158 12476179 0 X WWW.BYELECTRIC.COM X 1946 SD TO PROVIDE ELECTRICITY TO RURAL COMMUNITIES. 7 7 21 0 15524 4408 0 0 11413612 12024484 -182236 -157008 46398 56916 11277774 11924392 9574 6150 900690 1420048 1643885 1736381 0 0 0 8723625 8761813 11277774 11924392 0 0 36651316 38882765 23695679 25057885 12955637 13824880 BON HOMME YANKTON ELECTRIC ASSOCIATION, INC. IS DEDICATED TO PROVIDING HIGH QUALITY, RELIABLE AND COMPETITIVELY PRICED ELECTRIC ENERGY AND OTHER PRODUCTS TO OUR MEMBER CONSUMERS. 0 0 PROVIDED ELECTRIC SERVICE TO APPROXIMATELY 3,206 UNIQUE MEMBERS, ADDED 30.805 MILES OF LINE AND REMOVED 29.107 MILES OF LINE. 0 0 0 0 0 0 0 0 0 1 0 1 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 40 0 1 21 1 1 1 0 0 0 0 11692483 705559 0 0 0 X 7 7 0 0 0 0 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 0 X NICOLE EINREM 6054632507 134 S LIDICE STREET PO BOX 158 TABOR SD 57063 X ROBERT RUPPELT TREASURER 3.80 X X 6275 0 0 DEAN STERNHAGEN DIRECTOR 3.70 X 7125 0 0 JOHN LILLEVOLD DIRECTOR 4.50 X 7575 0 0 DAVID SYKORA VICE PRESIDENT 2.30 X X 5375 0 0 PAUL VOIGT PRESIDENT 3.40 X X 5325 0 0 DAVID STERNHAGEN SECRETARY 4.60 X X 6275 0 0 RICK CHELOHA DIRECTOR 2.10 X 6275 0 0 STEPHANIE HORST GENERAL MANAGER/CEO 40.00 X 140639 0 50059 184864 0 50059 1 0 1 0 BERNDT'S TREE SERVICE PO BOX 133 TYNDALL SD 57066 TREE TRIMMING 145645 1 SALE OF POWER 221000 11002032 11002032 CAPITAL CREDITS 221000 899332 899332 INTERNET SALES 517000 28494 15428 13066 94626 92168 2458 12024484 42992 42992 200000 -200000 -200000 -200000 408703 351787 56916 56916 11924392 12065876 15524 -157008 X 6150 1420048 236749 1165023 233951 100658 502406 1094880 FEDERAL INCOME TAX 774 COST OF POWER 6324492 ADMIN & GENERAL 816088 DISTRIBUTION-MAINTENANC 701705 -678532 11924392 507175 1649047 1061813 949681 1399675 1329204 237892 15846 39162296 13555918 24989094 25606378 1120634 1442955 7335033 7889654 36651316 38882765 1091172 1149176 21371873 22317056 1232634 1591653 23695679 25057885 X 0 0 0 0 12955637 13824880 12955637 13824880 36651316 38882765 X 0 869243 X 0 1 X 1 0 10265 10265 1885173 751451 1133722 34302894 12312074 21990820 2963964 492393 2471571 25606378 EAST RIVER ELECTRIC POWER COOPERATIVE, INC. 7086140 C COOPERATIVE RESPONSE CENTER 2334 C NATIONAL RURAL UTILITIES COOPERATIVE FINANCE CORPORATION 353789 C FEDERATED RURAL ELECTRIC INSURANCE CORPORATION 89437 C NATIONAL RURAL TELECOMMUNICATION COOPERATIVE 123326 C NATIONAL INFORMATION SOLUTIONS COOPERATIVE 30821 C RURAL ELECTRIC SUPPLY COMPANY 126952 C COBANK 33505 C RURAL ELECTRIC ECONOMIC DEVELOPMENT, INC. 40000 C MEMBERSHIPS 3350 C 7889654 DEFERRED CREDITS 1509177 CONSUMER DEPOSITS 82476 1591653 X 12103209 -21183 -21183 12124392 -200000 -200000 11924392 10683161 200000 200000 10483161 1441231 1441231 11924392 PART X, LINE 2: THE ASSOCIATION EVALUATED ITS INCOME TAX POSITIONS ON AN ANNUAL BASIS. MANAGEMENT HAS DETERMINED THAT THERE ARE NO UNCERTAIN TAX POSITIONS AT DECEMBER 31, 2022 AND 2021 THAT MEET THE CRITERIA FOR RECOGNITION IN THE FINANCIAL STATEMENTS. THE ASSOCIATION WOULD RECOGNIZE FUTURE ACCRUED INTEREST AND PENALTIES RELATED TO UNRECOGNIZED TAX BENEFITS IN INCOME TAX EXPENSE IF INCURRED. PART XI, LINE 2D - OTHER ADJUSTMENTS: MERCHANDISING EXPENSES -21,183. PART XI, LINE 4B - OTHER ADJUSTMENTS: LOSS ON DISPOSITION OF PROPERTY -200,000. PART XII, LINE 2D - OTHER ADJUSTMENTS: LOSS ON DISPOSITION OF PROPERTY 200,000. PART XII, LINE 4B - OTHER ADJUSTMENTS: MERCHANDISING EXPENSES 21,183. ALLOCATION OF 2022 MARGINS TO MEMBERS IN 2023 1,420,048. X X 0 0 0 STEPHANIE HORST GENERAL MANAGER/CEO 139543 0 0 0 1096 0 23949 0 27937 0 192525 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION HAS ONE CLASS OF MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A EACH MEMBER HAS ONE VOTE AT THE ANNUAL MEETING AND CAN VOTE AT LARGE FOR ANY DIRECTOR RUNNING FOR OFFICE. FORM 990, PART VI, SECTION A, LINE 7B CHANGES TO BYLAWS ARE VOTED UPON BY THE MEMBERSHIP AT THE ANNUAL MEETING. EACH MEMBER HAS ONE VOTE FOR OR AGAINST THE BYLAW CHANGE. FORM 990, PART VI, SECTION A, LINE 8B THE ORGANIZATION DOES NOT HAVE COMMITTEES WITH BROAD AUTHORITY TO ACT ON BEHALF OF THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 11B THE GENERAL MANAGER AND FINANCE OFFICER REVIEW THE 990 IN DETAIL. AFTER THEIR REVIEW, THE 990 IS PROVIDED TO EACH BOARD MEMBER. THE GENERAL MANAGER AND/OR FINANCE OFFICER PRESENT THE 990 TO THE BOARD OF DIRECTORS AT THE MEETING HELD PRIOR TO ITS FILING IF SO REQUESTED BY ANY BOARD MEMBER. WHETHER PRESENTED IN A BOARD MEETING OR NOT, THE 990 IS NOT FILED UNTIL EACH BOARD MEMBER HAS BEEN GIVEN A COPY OF IT AND GIVEN AMPLE TIME TO REVIEW IT. FORM 990, PART VI, SECTION B, LINE 12C ALL BOARD MEMBERS AND EMPLOYEES ARE COVERED BY THE CONFLICT OF INTEREST POLICY. THE BOARD OF DIRECTORS MAKES THE DETERMINATION AS TO WHETHER A CONFLICT EXISTS. IF ANY EMPLOYEE IDENTIFIES A POTENTIAL CONFLICT, THE BOARD WILL REVIEW THE POTENTIAL CONFLICT AND DETERMINE IF A CONFLICT EXISTS. IF IT IS DETERMINED THAT A DIRECTOR HAS A CONFLICT OF INTEREST, THE DIRECTOR IS REQUIRED TO RESIGN FROM THE BOARD IF DUE TO THE COMPETING BUSINESS CLAUSE. FORM 990, PART VI, SECTION B, LINE 15A THE SALARY OF THE GENERAL MANAGER IS NEGOTIATED BETWEEN THE GM AND THE BOARD. THE GM MAY PRESENT COMPARISONS TO THE JOB MARKETS AND UTILIZE THE NRECA OR SDREA SALARY SURVEY. THE PROCESS FOR DETERMINING COMPENSATION WAS LAST CONDUCTED IN 2022, AND THE GM HAS A WRITTEN AGREEMENT OF WAGES FOR 2022. FORM 990, PART VI, SECTION C, LINE 19 THESE DOCUMENTS ARE AVAILABLE UPON REQUEST AT THE ORGANIZATION'S MAIN OFFICE. PART VII, SECTION A THE GENERAL MANAGER/CEO ACTS IN THE CAPACITY OF TOP MANAGEMENT AND TOP FINANCIAL OFFICIAL. FORM 990, PART IX, LINE 4, BENEFITS PAID TO OR FOR MEMBERS: THE COOPERATIVE HAS INTERPRETED THE INSTRUCTIONS TO PART IX, LINE 4, TO MEAN PATRONAGE CAPITAL ALLOCATED FOR THE YEAR, RATHER THAN PATRONAGE CAPITAL RETIRED. THIS IS CONSISTENT WITH THE BY-LAWS OF THE COOPERATIVE. FORM 990, PART XI, LINE 9: ALLOCATION OF 2022 MARGINS TO MEMBERS IN 2023 1,420,048. PATRONAGE CAPITAL RETIREMENTS -608,561. CHANGE IN OTHER EQUITIES 57,756. FORM 990, PART IX, LINE 24E STATEMENT OF FUNCTIONAL EXPENSES: ALLOCATED AND OTHER EXPENSE: THE LABOR, PENSION AND PAYROLL TAXES REPORTED ON LINES 5-10 ARE INCLUDED IN DISTRIBUTION EXPENSE, ADMINISTRATIVE & GENERAL EXPENSE AND CUSTOMER EXPENSE. THEREFORE, LABOR, PENSION AND PAYROLL TAXES ARE SHOWN AS A REDUCTION TO OTHER EXPENSES ON LINE 24E.