2025-10-28T16:15:26-05:00 2024-12-31 450250958 EIDE BAILLY LLP 345 N REID PL STE 400 SIOUX FALLS SD 571037034 990 2024-01-01 460225402 EAST RIVER ELECTRIC POWER COOPERATIVE INC EAST 6052564536 211 S HARTH AVE MADISON SD 57042 ROBERT SAHR CEO/GENERAL MANAGER 6052564536 2025-10-28 1 1 LAURIE HANSON CPA P00851848 6053391999 2025-10-28 2024 2025-03-06 01:10:19Z ROBERT SAHR 211 S HARTH AVE MADISON SD 57042 371444074 0 X WWW.EASTRIVER.COOP X 1949 SD ACQUISITION, TRANSMISSION, AND DISTRIBUTION OF ELECTRIC POWER TO MEMBER SYSTEMS. 22 22 178 0 0 0 0 0 356072192 370463078 641122 762225 224745 218733 356938059 371444036 68390 64030 27750309 23832058 21990382 24487163 0 0 0 307128978 323060785 356938059 371444036 0 0 910292262 1017794449 624480409 716921585 285811853 300872864 EAST RIVER ELECTRIC POWER COOPERATIVE EXISTS TO ENHANCE THE VALUE OF ITS MEMBERS. 0 0 EAST RIVER ELECTRIC POWER COOPERATIVE IS A WHOLESALE ELECTRIC POWER SUPPLY COOPERATIVE SERVING 24 RURAL ELECTRIC COOPERATIVES AND ONE MUNICIPALLY-OWNED ELECTRIC SYSTEM, WHICH IN TURN SERVES MORE THAN 93,000 HOMES AND BUSINESSES AND ABOUT 250,000 CONSUMERS. THE COOPERATIVE OPERATES AND MAINTAINS OVER 3,200 MILES OF HIGH VOLTAGE TRANSMISSION LINE AND OVER 260 SUBSTATIONS AND RELATED FACILITIES TO SERVE AN AREA OF 40,000 SQUARE MILES THAT COVERS THE RURAL AREAS OF 41 COUNTIES IN EASTERN SOUTH DAKOTA AND 22 COUNTIES IN WESTERN MINNESOTA. EAST RIVER IS ALSO A TRANSMISSION OWNER IN THE SOUTHWEST POWER POOL. 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 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 145 0 1 178 1 0 0 0 0 0 318676266 12192777 0 0 0 X 22 22 0 0 0 0 1 0 0 1 0 0 0 1 1 1 1 1 1 1 1 0 X BARBARA STROM 6052568081 211 S HARTH AVE MADISON SD 57042 X ALAN VEDVEI PRESIDENT 4.00 X X 17252 0 0 JAMES RYKEN PRESIDENT/DIRECTOR (BEG SEPT 2024) 4.00 X X 14306 0 4751 DUANE WOLBRINK VICE PRESIDENT 4.00 X X 18719 0 0 BERT ROGNESS TREASURER 4.00 X X 19888 0 0 PAUL VOIGT SECRETARY 3.00 X X 13067 0 0 GARY BACHMAN DIRECTOR 3.00 X 16581 0 0 DAVID BEHRNS DIRECTOR (BEG APR 2024) 3.00 X 11524 0 0 DARREN STRASSER DIRECTOR (UNTIL MAR 2024) 2.00 X 3095 0 0 DOUG DIEKMANN DIRECTOR 3.00 X 13717 0 0 BRAD DONNAY DIRECTOR (BEG SEPT 2024) 4.00 X 6637 0 0 JEFF HUFFORD DIRECTOR (UNTIL AUG 2024) 3.00 X 10262 0 0 GARY FISH DIRECTOR (BEG SEP 2024) 3.00 X 3928 0 0 RODNEY DEMENT DIRECTOR (UNTIL AUG 2024) 3.00 X 7233 0 2700 ALAN HINDERMAN DIRECTOR 3.00 X 16305 0 0 STEVE HOLMBERG DIRECTOR (BEG SEP 2024) 4.00 X 6459 0 0 JOHN OSTRAAT DIRECTOR (UNTIL AUG 2024) 2.00 X 7432 0 0 TREVOR JOB DIRECTOR 2.00 X 0 0 0 WAYNE LEFERS DIRECTOR (BEG JULY 2024) 4.00 X 8876 0 0 DAVID NEUGEBAUER DIRECTOR (UNTIL MAY 2024) 2.00 X 4295 0 0 MICHAEL LONGTIN DIRECTOR 3.00 X 15846 0 0 RYAN NOYES DIRECTOR 2.00 X 13317 0 0 KERMIT PEARSON DIRECTOR 2.00 X 11827 0 0 DARRELL RASCHKE DIRECTOR 4.00 X 19878 0 0 RON SAMUELSON DIRECTOR 3.00 X 17734 0 0 KIRK SCHAUNAMAN DIRECTOR 3.00 X 54 0 16863 DON SCHURDEVIN DIRECTOR 3.00 X 12975 0 0 DAVE WARKENTHIEN DIRECTOR 3.00 X 54 0 16150 ROBERT SAHR CEO/GENERAL MANAGER 47.00 X 621455 0 212862 SCOTT SHEWEY CFO 45.00 X 347711 0 89054 MARK HOFFMAN COO 41.00 X 274854 0 91748 CHRIS STUDER CHIEF MEMBER AND PUBLIC RELATIONS OFFICER 47.00 X 243101 0 72098 JEFFREY MAY CIO 45.00 X 254877 0 142731 ELIZABETH AVERY CHRO 41.00 X 239685 0 243002 MICHAEL JASPERS BUSINESS DEVELOPMENT DIRECTOR 43.00 X 243116 0 63143 DANIEL BROWN GENERAL COUNSEL 45.00 X 225728 0 45942 2741788 0 1001044 104 0 1 0 HDR ENGINEERING INC 101 SOUTH PHILLIPS AVENUE SUITE 401 SIOUX FALLS SD 57104 ENGINEERING SERVICES 8698137 SCHULTE TA INC 5950 SWANSON ROAD GILLETTE WY 82718 CONSTRUCTION 4313134 KEY CONTRACTING INC 245 7TH AVE NE WEST FARGO ND 58078 TRANSMISSION LINE CONSTRUCTION 4133743 HIGHMARK ERECTORS INC PO BOX 491 BLACK HAWK SD 57718 SUBSTATION CONSTRUCTION 3831417 DGR ENGINEERING 1302 SOUTH UNION STREET PO BOX 511 ROCK RAPIDS IA 51246 ENGINEERING SERVICES 3641503 24 SALE OF POWER 221000 318441318 318441318 RTO & WHEELING REVENUE 221000 36223435 36223435 G&T CAPITAL CREDITS 221000 15798325 15798325 370463078 762263 762263 159604 0 159604 159604 159604 38 -38 -38 -38 MISCELLANEOUS REVENUE 900099 59129 59129 59129 371444036 370463078 0 980958 64030 23832058 1941891 17454312 3720464 1370496 21909616 18059779 COST OF POWER 273573892 TRANSMISSION - OPERATIO 12391105 TRANSMISSION - MAINTENA 3904601 DISTRIBUTION - OPERATIO 2362555 -9140763 371444036 8838848 6753911 32472060 36278881 22969746 34596466 4550077 5705103 891816774 169413776 640544855 722402998 6973624 8546502 193943052 203510588 910292262 1017794449 40635791 43081660 487114022 554835548 88000000 109000000 8730596 10004377 624480409 716921585 X 2500 2500 0 0 285809353 300870364 285811853 300872864 910292262 1017794449 X 0 15061011 X 0 1 X 1 0 8215942 8215942 34078458 3919497 30158961 496470649 81582708 414887941 353051725 83911571 269140154 722402998 BASIN ELECTRIC POWER COOPERATIVE 192379992 C NATIONAL RURAL UTILITIES COOPERATIVE FINANCE CORPORATION 5418139 C OTHER INVESTMENTS 366045 C FEDERATED RURAL ELECTRIC INSURANCE CORPORATION 946304 C COBANK 3060951 C LOANS TO MEMBERS 372410 C RURAL ELECTRIC SUPPLY COOPERATIVE 966747 C 203510588 DEFERRED CREDITS 7608755 POSTRETIREMENT BENEFIT OBLIGATIONS 1617754 CAPITAL LEASE LIABILITY 777868 10004377 X 371444036 0 371444036 0 371444036 347611978 0 347611978 23832058 23832058 371444036 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: ALLOCATION OF 2024 MARGINS TO MEMBERS IN 2025 23,832,058. 1 DAKOTA STATE UNIVERSITY FOUNDATION 2ND ST NE MADISON SD 57042 237299995 501(C)(3) 0 5300 COMMUNITY SUPPORT FORWARD SIOUX FALLS PO BOX 907 SIOUX FALLS SD 57101 460396647 OTHER 0 6667 ECONOMIC DEVELOPMENT SOUTH DAKOTA FFA FOUNDATION INC 39393 133RD ST BATH SD 57427 460342843 501(C)(3) 0 7025 COMMUNITY SUPPORT LAKE AREA IMPROVEMENT CORPORATION PO BOX 32 MADISON SD 57042 510183368 501(C)(3) 0 20000 ECONOMIC DEVELOPMENT SOUTH DAKOTA AGRICULTURAL AND RURAL LEADERSHIP FOUNDATION PO BOX 2170 ANIMAL SCIENCE CENTER 132 BROOKINGS SD 57007 364293293 501(C)(3) 0 7500 ECONOMIC DEVELOPMENT 4 1 PART I, LINE 2: THE ORGANIZATION MAKES GRANTS TO VARIOUS FISCALLY RESPONSIBLE AND TRUSTWORTHY ORGANIZATIONS IN SOUTH DAKOTA AND MINNESOTA. THE GRANTS ARE APPROVED BY THE ORGANIZATION'S BOARD OF DIRECTORS IN THE YEARLY BUDGET AND ALSO AUTHORIZED FOR DISBURSEMENT BY MANAGEMENT UPON RECEIPT OF INVOICE. THERE ARE NO RESTRICTIONS ON THE GRANTS EXCEPT FOR THE RECIPIENTS TO USE THE FUNDS AS REPRESENTED IN THE INVOICE TO PROMOTE EDUCATION OR TO PROMOTE ECONOMIC DEVELOPMENT IN THE AREAS SERVED BY EAST RIVER ELECTRIC. X 1 1 X X 0 1 0 ROBERT SAHR CEO/GENERAL MANAGER 611344 0 0 0 10111 0 178764 0 37713 0 837932 0 0 0 ELIZABETH AVERY CHRO 234523 0 0 0 5162 0 220403 0 24887 0 484975 0 0 0 SCOTT SHEWEY CFO 344036 0 0 0 3675 0 57302 0 34664 0 439677 0 0 0 JEFFREY MAY CIO 252500 0 0 0 2377 0 128532 0 16554 0 399963 0 0 0 MARK HOFFMAN COO 271618 0 0 0 3236 0 60094 0 34234 0 369182 0 0 0 CHRIS STUDER CHIEF MEMBER AND PUBLIC RELATIONS OF 241531 0 0 0 1570 0 37919 0 36552 0 317572 0 0 0 MICHAEL JASPERS BUSINESS DEVELOPMENT DIRECTOR 241184 0 0 0 1932 0 47991 0 17436 0 308543 0 0 0 DANIEL BROWN GENERAL COUNSEL 223218 0 0 0 2510 0 33251 0 14779 0 273758 0 0 0 PART I, LINE 3 USE OF CHARTER AIR IS ALLOWED ONLY WHEN COMMERCIAL AIRLINE SERVICE IS NOT AVAILABLE OR PRACTICAL. PART I, LINE 4B ROBERT SAHR RECEIVED A PAYMENT OF $39,956 AS A PERFORMANCE INCENTIVE 457(F) TO SUPPLEMENT HIS COMPENSATION FOR A SPECIFIC TIME FRAME. SCHEDULE J, PART II, COLUMN C SCHEDULE J, PART II, COLUMN C INCLUDES THE CHANGE IN ACTUARIAL VALUE IN THE DEFINED BENEFIT PLAN PER THE 990 INSTRUCTIONS. THIS AMOUNT DOES NOT REPRESENT THE ACTUAL CONTRIBUTIONS MADE TO THE PLAN BY THE COOPERATIVE. FORM 990, PART VI, SECTION A, LINE 6 THE COOPERATIVE SHALL HAVE NO STOCK, BUT MEMBERSHIP IN THE COOPERATIVE SHALL BE EVIDENCED BY A MEMBERSHIP CERTIFICATE. MEMBERSHIP IN THE COOPERATIVE SHALL BE OF FOUR CLASSES AS FOLLOWS: (A)CLASS "A" MEMBERSHIP. ANY INCORPORATED COOPERATIVE ASSOCIATION ORGANIZED UNDER STATE LAWS GOVERNING RURAL ELECTRIC COOPERATIVES, FOR THE PURPOSES OF CONSTRUCTING, OPERATING AND MAINTAINING ELECTRIC DISTRIBUTION LINES OR SYSTEMS MAY BECOME A CLASS "A" MEMBER UPON COMPLIANCE WITH THE OTHER MEMBERSHIP REQUIREMENTS OF THESE BYLAWS. EACH CLASS "A" MEMBER SHALL BE ENTITLED TO ONE (1) DIRECTOR AND ONE (1) VOTE AT ANY COOPERATIVE MEETING. (B)CLASS "B" MEMBERSHIP. ANY MUNICIPALITY OR OTHER BODY POLITIC MAY BECOME A CLASS "B" MEMBER UPON COMPLIANCE WITH THE OTHER MEMBERSHIP REQUIREMENTS OF THESE BYLAWS. CLASS "B" MEMBERS SHALL COLLECTIVELY BE ENTITLED TO ONE (1) DIRECTOR AND ONE (1) VOTE AT ANY COOPERATIVE MEETING. (C)CLASS "C" MEMBERSHIP. ANY FIRM, ASSOCIATION, CORPORATION, BUSINESS TRUST, LIMITED LIABILITY COMPANY OR OTHER ENTITY NOT FITTING THE REQUIREMENTS OF CLASS "A OR "B" MEMBERSHIP MAY BECOME A CLASS "C" MEMBER UPON COMPLIANCE WITH THE OTHER MEMBERSHIP REQUIREMENTS OF THESE BYLAWS. CLASS "C" MEMBERS SHALL COLLECTIVELY BE ENTITLED TO ONE (1) DIRECTOR AND ONE (1) VOTE AT ANY COOPERATIVE MEETING. (D)CLASS "D" MEMBERSHIP. ANY COOPERATIVE, FIRM, ASSOCIATION, CORPORATION, BUSINESS TRUST, LIMITED LIABILITY COMPANY OR OTHER ENTITY NOT FITTING THE REQUIREMENTS OF CLASS "A", "B", OR "C" MEMBERSHIP MAY BECOME A CLASS "D" MEMBER UPON COMPLIANCE WITH THE OTHER MEMBERSHIP REQUIREMENTS OF THESE BYLAWS. CLASS "D" MEMBERS SHALL COLLECTIVELY BE ENTITLED TO ONE (1) DIRECTOR AND ONE (1) VOTE AT ANY COOPERATIVE MEETING. 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 UPON COMPLETION OF EAST RIVER'S 990, THE RETURN WILL BE POSTED TO THE SECURE AREA OF EAST RIVER'S WEB SITE FOR THE DIRECTORS, OFFICERS, AND MANAGEMENTS REVIEW. ANY QUESTIONS OR CONCERNS WILL BE ADDRESSED AND THE 990 WILL BE FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C ALL DIRECTORS AND EMPLOYEES ARE COVERED BY THE CONFLICT OF INTEREST POLICY. AN EMPLOYEE OR DIRECTOR SHALL MAKE PROMPT AND FULL DISCLOSURE TO THE BOARD OR TO THE EMPLOYEE'S SUPERVISOR OF ANY POTENTIAL SITUATION WHICH MAY INVOLVE A CONFLICT OF INTEREST. DETERMINATION OF WHETHER A CONFLICT EXISTS AND REVIEW OF THE CONFLICT WILL BE MADE BY THE BOARD IF THE PERSON INVOLVED IS A BOARD MEMBER OR GENERAL MANAGER; IF THE PERSON INVOLVED IS AN EMPLOYEE, THE EMPLOYEE'S SUPERVISOR WILL MAKE THIS DETERMINATION. ANY EMPLOYEE OR DIRECTOR WHOSE CONDUCT VIOLATES THE CONFLICT OF INTEREST POLICY SHALL BE SUBJECT TO DISCIPLINARY ACTION UP TO AND INCLUDING EXPULSION FROM THE BOARD OR TERMINATION; THIS IS DETERMINED BY THE BOARD OR GENERAL MANAGER. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION PLAN IS BASED ON A COMPILATION OF SALARY SURVEY DATA ACQUIRED THROUGH THE SERVICES OF A PROFESSIONAL CONSULTANT. AN AVERAGE OF THE MEDIAN RATES IN THE VARIOUS SURVEYS IS USED TO DETERMINE THE EAST RIVER MARKET RATE. THE BOARD OF DIRECTORS ANNUALLY REVIEWS THE MARKET DATA AND APPROVES ANY CHANGES. FORM 990, PART VI, SECTION C, LINE 19 AVAILABLE UPON REQUEST BY CALLING THE OFFICE, STOPPING IN, OR VIA EMAIL. FORM 990, PART VII, COLUMN F, OTHER COMPENSATION: INCLUDED IN OTHER COMPENSATION IS THE ESTIMATED CURRENT YEAR INCREASE OR DECREASE IN THE ACTUARIAL VALUE OF THE DEFINED BENEFIT PLAN FOR THE GENERAL MANAGER, ASSISTANT GENERAL MANAGERS AND OTHER HIGHLY COMPENSATED EMPLOYEES. 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 XI, LINE 9: RETIREMENT OF CAPITAL -8,771,047. ALLOCATION OF 2024 MARGINS TO MEMBERS IN 2025 23,832,058. 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 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.