2024-08-07T06:52:54-05:00 2023-12-31 450250958 EIDE BAILLY LLP 345 N REID PL STE 400 SIOUX FALLS SD 571037034 990 2023-01-01 460221377 GRAND ELECTRIC COOPERATIVE INC GRAN 6052445211 PO BOX 39 BISON SD 57620 ERIC KAHLER GENERAL MANAGER 6052445211 2024-08-05 1 1 LAURIE HANSON CPA P00851848 6053391999 2024-08-05 2023 2024-08-08 14:25:15Z ERIC KAHLER PO BOX 39 BISON SD 57620 14512713 0 X WWW.GRANDELECTRIC.COOP X 1950 SD PROVIDING ELECTRICITY TO PEOPLE IN RURAL AREAS. 9 9 50 0 3672 2405 0 0 13083131 13383200 212016 337385 8549 66477 13303696 13787062 14785 13500 1261930 1080633 5221140 5258613 0 0 0 6608856 7025016 13106711 13377762 196985 409300 66121486 64278927 41526087 39245935 24595399 25032992 GRAND ELECTRIC IS COMMITTED TO PROVIDE OUR MEMBERS AND EMPLOYEES WITH SOUND FINANCIAL MANAGEMENT, RELIABLE ENERGY AND SAFETY AS OUR HIGHEST PRIORITY. 0 0 PROVIDED ELECTRIC SERVICE TO APPROXIMATELY 1,866 MEMBERS ALONG 3,838.33 MILES OF ELECTRICAL SERVICE LINE, INSTALLING 6.17 MILES, AND REMOVING 0.48 MILES OF ELECTRICAL SERVICE 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 1 201 0 1 50 1 1 1 0 0 0 0 13885789 780490 0 0 0 X 9 9 0 0 0 0 1 1 1 1 0 0 0 1 1 1 1 1 1 1 1 0 X TORI KLING 6052445211 PO BOX 39 BISON SD 57620 X JOHN J LONG PRESIDENT 6.00 X X 13033 0 0 ROSS KOPREN VICE PRESIDENT 7.00 X X 14033 0 0 SHARON LONGWOOD SECRETARY 3.00 X X 12033 0 0 MAXINE RASMUSSEN TREASURER 3.00 X X 8033 0 0 ERIC ARNESON DIRECTOR 6.00 X 14032 0 0 LORI BESLER DIRECTOR 4.00 X 11032 0 0 JAMES ERK DIRECTOR 3.00 X 13532 0 0 ROBERT JOHNSON DIRECTOR 4.00 X 18032 0 0 REID PALMER DIRECTOR 5.00 X 11032 0 0 COLGAN HUBER ASSISTANT GM (END 08/2023) 20.00 X 76836 0 27796 ERIC KAHLER GENERAL MANAGER 20.00 X 92413 0 46996 TORI KLING DIRECTOR OF FINANCE (BEG 08/2023) 20.00 X 68073 0 24145 RILEY DALZELL ELECTRIC ARE FOREMAN 40.00 X 113041 0 31338 LYLE REIFF MANAGER-TELECOM OPERATIONS 40.00 X 109399 0 62078 MICHAEL L STADLER MANAGER-ELECTRIC OPERATIONS 40.00 X 109054 0 60779 JERRY SWARTZ ELECTRIC ARE FOREMAN 40.00 X 107185 0 20352 TANNER JOHNSON LINEMAN 40.00 X 104014 0 25165 894807 0 298649 17 0 1 0 CABLE COMMUNICATION SERVICES INC 7200 SHADOWLAND CT BLACK HAWK SD 57718 CONSTRUCTION 240100 BOLDT POWER INC PO BOX 57 ISABEL SD 57633 CONSTRUCTION 187773 2 SALE OF ELECTRICITY 221000 12335746 12335746 OTHER OPERATING 221000 611261 611261 COOP CAPITAL CREDITS 221000 430756 430756 OTHER NON-OPERATING 221000 5437 5437 13383200 290725 290725 46660 0 46660 46660 46660 792128 725651 66477 62805 3672 13787062 13446005 3672 337385 X 13500 1080633 437095 3736256 782587 302675 1202614 1930501 COST OF POWER 4879139 DISTRIBUTION-MAINTENANC 974988 DISTRIBUTION-OPERATIONS 678147 CUSTOMER ACCOUNTS 343324 -2983697 13377762 8543004 6179922 1553448 1475593 25786 21295 1371032 1513031 227280 192590 71918971 25130753 46337534 46788218 24935 24627 7534092 7560865 504375 522786 66121486 64278927 1556297 920748 38890078 36930176 1079712 1395011 41526087 39245935 X 0 0 0 0 24595399 25032992 24595399 25032992 66121486 64278927 X 409300 28293 X 0 1 X 1 0 111391 111391 2037758 980280 1057478 69091629 24150473 44941156 678193 678193 46788218 MEMBERSHIPS 3050 C BASIN ELECTRIC POWER COOPERATIVE 6086045 C OTHER PATRONAGE CAPITAL CREDITS 971788 C NATIONAL RURAL UTILITIES COOPERATIVE FINANCE CORPORATION 499982 C 7560865 DEFERRED CREDITS 1372796 CUSTOMER DEPOSITS 22215 1395011 X 13787062 0 13787062 0 13787062 12297129 0 12297129 1080633 1080633 13377762 PART X, LINE 2: THE COOPERATIVE BELIEVES IT HAS APPROPRIATE SUPPORT FOR ANY TAX POSITIONS TAKEN AFFECTING ITS ANNUAL FILING REQUIREMENTS, AND AS SUCH, DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS THAT ARE MATERIAL TO THE FINANCIAL STATEMENTS. THE COOPERATIVE WOULD RECOGNIZE FUTURE ACCRUED INTEREST AND PENALTIES RELATED TO UNRECOGNIZED TAX BENEFITS IN INCOME TAX EXPENSE IF SUCH INTEREST AND PENALTIES ARE INCURRED. PART XII, LINE 4B - OTHER ADJUSTMENTS: ALLOCATIONS OF 2023 MARGINS TO MEMBERS IN 2024 1,080,633. X 0 1 X X X 0 0 0 LYLE REIFF MANAGER-TELECOM OPERATIONS 108204 0 400 0 795 0 32513 0 31880 0 173792 0 0 0 MICHAEL L STADLER MANAGER-ELECTRIC OPERATIONS 108308 0 400 0 346 0 31224 0 30862 0 171140 0 0 0 PART I, LINE 1A THE CORPORATION PROVIDES A HOUSE FOR THE GENERAL MANAGER TO LIVE IN. SCHEDULE J PART II COLUMN C INCLUDES THE ESTIMATED CURRENT YEAR INCREASE OR DECREASE IN THE ACTUARIAL VALUE OF THE DEFINED BENEFIT PLAN. THE CURRENT YEAR INCREASE OR DECREASE DOES NOT REPRESENT CURRENT YEAR CONTRIBUTIONS TO THE PLAN. RATHER, IT IS AN ESTIMATE OF THE INCREASE OR DECREASE IN THE ACTUARIAL VALUE OF THE PLAN AS CALCULATED BY THE PLAN ADMINISTRATOR. FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION HAS MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A EACH MEMBER HAS ONE VOTE. FORM 990, PART VI, SECTION A, LINE 7B ANY CHANGES TO THE BYLAWS REQUIRE A MAJORITY APPROVAL OF THE MEMBERS AT THE ANNUAL MEETING OR AT A SPECIAL MEETING CALLED BY RESOLUTION OF THE BOARD OF DIRECTORS. EITHER MEETING REQUIRES A QUORUM AS DEFINED BY ARTICLE III, SECTION 4 IN THE BYLAWS. FORM 990, PART VI, SECTION A, LINE 8B THERE ARE NO COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B THE GENERAL MANAGER AND DIRECTOR OF FINANCE REVIEW THE 990 IN DETAIL. AFTER THEIR REVIEW, THE 990 IS PROVIDED TO EACH BOARD MEMBER. THE GENERAL MANAGER AND/OR DIRECTOR OF FINANCE 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 ARTICLE IV SECTION 3B, OF THE BYLAWS, IS FOLLOWED DURING THE NOMINATING OF OUR DIRECTORS. THE NOMINATING COMMITTEE IS AWARE OF THE CONFLICT OF INTEREST POLICY WHEN ELECTING NEW DIRECTORS. THE CONFLICT OF INTEREST POLICY APPLIES TO THE BOARD OF DIRECTORS. THE BOARD DETERMINES WHETHER A CONFLICT OF INTEREST EXISTS. IF A CONFLICT EXISTS, THE PERSON INVOLVED WOULD BE REQUIRED TO ABSTAIN FROM DISCUSSION AND VOTING ON THE MATTER. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF DIRECTORS REVIEW COMPENSATION SURVEYS FOR OTHER MANAGERS IN OUR REGION AND NEIGHBORING STATES ALONG WITH REVIEWING YEARLY PERFORMANCE. THE PROCESS WILL BE COMPLETED ANNUALLY. FORM 990, PART VI, SECTION C, LINE 19 BYLAWS ARE AVAILABLE UPON REQUEST. FINANCIAL STATEMENTS ARE INCLUDED IN THE ANNUAL REPORT AND MADE AVAILABLE TO MEMBERS AT THE ANNUAL MEETING. FORM 990, PART VII ERIC KAHLER'S COMPENSATION AND BENEFITS, AS REPORTED IN PART VII OF THE 990, ARE HALF OF HIS TOTAL COMPENSATION. GRAND ELECTRIC AND WEST RIVER COOPERATIVE TELEPHONE COMPANY, AN UNRELATED ENTITY, HAVE A MANAGEMENT AGREEMENT FOR SERVICES. THE AMOUNT REIMBURSED IS EQUAL TO 50% OF HIS SALARY AND BENEFITS. ERIC'S TIME IS SPLIT 50/50 BETWEEN THE TWO ENTITIES. FORM 990, PART VII, COLUMN F, OTHER COMPENSATION: INCLUDED IN OTHER COMPENSATION FOR EMPLOYEES REQUIRED TO BE LISTED ON PART VII IS THE ESTIMATED CURRENT YEAR INCREASE OR DECREASE IN THE ACTUARIAL VALUE OF THE DEFINED BENEFIT PLAN. THE CURRENT YEAR INCREASE OR DECREASE DOES NOT REPRESENT CURRENT YEAR CONTRIBUTIONS TO THE PLAN. RATHER, IT IS AN ESTIMATE OF THE INCREASE OR DECREASE IN THE ACTUARIAL VALUE OF THE PLAN AS CALCULATED BY THE PLAN ADMINISTRATOR. FORM 990, PART VII COLGAN HUBER'S COMPENSATION AND BENEFITS, AS REPORTED IN PART VII OF THE 990, ARE HALF OF HIS TOTAL COMPENSATION. GRAND ELECTRIC AND WEST RIVER COOPERATIVE TELEPHONE COMPANY, AN UNRELATED ENTITY, HAVE A MANAGEMENT AGREEMENT FOR SERVICES. THE AMOUNT REIMBURSED IS EQUAL TO 50% OF HIS SALARY AND BENEFITS. COLGAN'S TIME IS SPLIT 50/50 BETWEEN THE TWO ENTITIES. FORM 990, PART VII, LINE 2 THE TOTAL NUMBER OF EMPLOYEES RECEIVING MORE THAN $100,000 IN REPORTABLE COMPENSATION FOR 2023 INCLUDES ERIC KAHLER, COLGAN HUBER, AND TORI KLING. AS NOTED ELSEWHERE IN SCHEDULE O, FIFTY PERCENT OF TOTAL COMPENSATION FOR MR. KAHLER, MR. HUBER, AND MS. KLING WAS REPORTED ON PART VII DUE TO THE AGREEMENT WITH AN UNRELATED ORGANIZATION. FORM 990, PART VII TORI KLING'S COMPENSATION AND BENEFITS, AS REPORTED IN PART VII OF THE 990, ARE HALF OF HER TOTAL COMPENSATION. GRAND ELECTRIC AND WEST RIVER COOPERATIVE TELEPHONE COMPANY, AN UNRELATED ENTITY, HAVE A MANAGEMENT AGREEMENT FOR SERVICES. THE AMOUNT REIMBURSED IS EQUAL TO 50% OF HER SALARY AND BENEFITS. TORI'S TIME IS SPLIT 50/50 BETWEEN THE TWO ENTITIES. FORM 990, PART IX, LINE 24E STATEMENT OF FUNCTIONAL EXPENSES: 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. 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: RETIREMENT OF CAPITAL CREDITS -1,052,340. ALLOCATIONS OF 2023 MARGINS TO MEMBERS IN 2024 1,080,633.