2025-11-13T10:01:45-06:00 2024-12-31 410746749 CLIFTONLARSONALLEN LLP 2689 COMMERCE DRIVE NW SUITE 201 ROCHESTER MN 55901 990 2024-01-01 460189704 SIOUX VALLEY SOUTHWESTERN ELECTRIC COOPERATIVE INC SIOU 6055343535 PO BOX 216 COLMAN SD 570170216 DAN LEUTHOLD PRESIDENT 6055343535 2025-10-30 1 0 KATHERINE LUTZKE CPA P01760889 5072802300 2025-10-30 2024 2025-03-06 01:10:19Z SIOUX VALLEY ENERGY DAN LEUTHOLD PO BOX 216 COLMAN SD 570170216 109140973 0 X WWW.SIOUXVALLEYENERGY.COM X 1939 SD TO PROVIDE ELECTRICITY UTILITY TO MEMBERS OF THE COOPERATIVE. 11 11 118 0 0 0 0 0 100147813 103538442 428985 245067 5516917 4296899 106093715 108080408 0 0 8541296 5740695 983280 930526 0 0 0 96569139 101409187 106093715 108080408 0 0 352249569 384683195 238105167 266105219 114144402 118577976 SIOUX VALLEY ENERGY'S MISSION IS "SERVING OUR MEMBERS, ALWAYS". 0 0 RURAL ELECTRIC DISTRIBUTION COOPERATIVE PROVIDING 921,123,751 KWH OF ELECTRICITY TO 24,695 MEMBER OWNERS. 0 0 0 0 0 0 0 1 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 1 233 0 118 1 0 0 0 0 0 105720611 5817824 0 0 0 X 11 11 0 0 0 0 1 1 1 1 0 0 0 1 1 1 1 1 1 1 1 0 X X JASON MAXWELL 6055343535 PO BOX 216 COLMAN SD 570170216 DAN LEUTHOLD PRESIDENT 5.00 X X 14035 0 3450 DAVE DANIEL VICE PRESIDENT 5.00 X X 10735 0 0 DON DEGREEF SECRETARY 5.00 X X 15535 0 0 ANN VOSTAD TREASURER 5.00 X X 11935 0 0 MARK ROGEN DIRECTOR 5.00 X 13735 0 0 RODNEY DEMENT DIRECTOR 5.00 X 14335 0 3600 GARY FISH DIRECTOR 5.00 X 15535 0 0 ALLAN WEINACHT DIRECTOR 5.00 X 11935 0 0 GREGG JOHNSON DIRECTOR 5.00 X 17935 0 0 LUCAS ROSKAMP DIRECTOR 5.00 X 15885 0 0 LESLIE HEINEMANN DIRECTOR 5.00 X 11335 0 0 TIM MCCARTHY GENERAL MANAGER/CEO 50.00 X 351102 0 145703 JASON MAXWELL CFO 46.00 X 224667 0 49069 CARRIE VUGTEVEEN VICE PRESIDENT OF PUBLIC RELATIONS 46.00 X 198948 0 60378 KIMBERLEE HANSEN VICE PRESIDENT OF HUMAN RESOURCES & MEMBER SERVICE 46.00 X 150172 0 104483 THEODORE SMITH VICE PRESIDENT OF ENGINEERING AND OPERATIONS 46.00 X 237452 0 102511 TIM FEY MANAGER OF CONTRACTOR RELATIONS 46.00 X 153754 0 93828 JUSTIN MOOSE VICE PRESIDENT OF TECHNOLOGY 46.00 X 211365 0 73913 1680395 0 636935 70 0 1 0 HEGG CONSTRUCTION LLC 4930 S WESTERN AVE SUITE 101 SIOUX FALLS SD 57108 CONSTRUCTION CONTRACTOR 5780079 FRIEST TREE EXPERTS 47854 273RD ST HARRISBURG SD 57032 TREE TRIMMING 1403893 PRECISION CONTRACTING 8351 LAKE DR LINO LAKES MN 55014 CONSTRUCTION 558416 3 SALE OF POWER 221000 103538442 103538442 103538442 301984 301984 1323 0 1323 1323 1323 263 57180 -56917 -56917 -56917 475134 1003385 -528251 -528251 CAPITAL CREDITS 221000 4823827 4823827 4823827 108080408 107834018 0 246390 5740695 930526 7421774 9047034 COST OF POWER 63492186 DIST EXP - OPERATIONS 7284335 ADMIN & GENERAL EXPENSE 5712301 DIST EXP - MAINTENANCE 3379559 5071998 108080408 3164035 2734509 3100000 2900000 9116774 10472045 8603386 7965680 1040998 1074116 359668773 69376313 261858560 290292460 63959026 67777404 1236 1236 1405554 1465745 352249569 384683195 11229196 13240691 3556504 3405686 217445426 220637191 5000000 28000000 874041 821651 238105167 266105219 X 0 0 0 0 114144402 118577976 114144402 118577976 352249569 384683195 X 0 4433574 X 0 1 X 1 0 1 126676 150903 167861 109718 0 956317 956317 10806860 5573501 5233359 21497645 12161150 9336495 326407951 51641662 274766289 290292460 G&T PATRONAGE CAPITAL 61850186 C NRUCFC PATRONAGE CAPITAL 2083424 C PATRONAGE CAPITAL - OTHER 1829737 C NRUCFC CAPITAL TERM CERTS 1553683 C VALUE ADDED AG LOANS 1003 C ERC LOANS 329711 C OTHER PROGRAM RELATED 129660 C 67777404 CONSUMER DEPOSITS 788412 PATRONAGE CAPITAL PAYABLE 33239 821651 X 108080408 0 108080408 0 108080408 102339713 0 102339713 5740695 5740695 108080408 PART IV, LINE 1B: CUSTOMERS HAVE THE OPTION OF PARTICIPATING IN OPERATION ROUND-UP. PARTICIPATING CUSTOMERS ROUND THEIR BILLS UP TO THE NEAREST DOLLAR AND THE DIFFERENCE IS CONTRIBUTED TO THE SIOUX VALLEY ENERGY CUSTOMERS' TRUST, WITH THE FUNDS BEING UTILIZED FOR CHARITABLE GIVING. PART X, LINE 2: THE COOPERATIVE HAS BEEN GRANTED TAX EXEMPT STATUS UNDER SECTION 501(C)(12) OF THE INTERNAL REVENUE CODE. THE COOPERATIVE EVALUATED ITS TAX POSITIONS AND DETERMINED THAT IT HAS NO UNCERTAIN TAX POSITIONS AS OF DECEMBER 31, 2024 AND 2023. PART XII, LINE 4B - OTHER ADJUSTMENTS: PATRONAGE ALLOCATED TO MEMBERS 5,740,695. 1 X X 0 0 0 TIM MCCARTHY GENERAL MANAGER/CEO 351102 0 0 0 0 0 123677 0 22026 0 496805 0 0 0 THEODORE SMITH VICE PRESIDENT OF ENGINEERING AND OP 237452 0 0 0 0 0 77425 0 25086 0 339963 0 0 0 JUSTIN MOOSE VICE PRESIDENT OF TECHNOLOGY 211365 0 0 0 0 0 54077 0 19836 0 285278 0 0 0 JASON MAXWELL CFO 224667 0 0 0 0 0 33016 0 16053 0 273736 0 0 0 CARRIE VUGTEVEEN VICE PRESIDENT OF PUBLIC RELATIONS 198948 0 0 0 0 0 40751 0 19627 0 259326 0 0 0 KIMBERLEE HANSEN VICE PRESIDENT OF HUMAN RESOURCES & 150172 0 0 0 0 0 81166 0 23317 0 254655 0 0 0 TIM FEY MANAGER OF CONTRACTOR RELATIONS 153754 0 0 0 0 0 75363 0 18465 0 247582 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 EACH ELECTRIC ACCOUNT IS A MEMBER. FORM 990, PART VI, SECTION A, LINE 7A COOPERATIVE IS BROKEN INTO 10 DISTRICTS. 9 DISTRICTS HAVE ONE DIRECTOR. 1 DISTRICT HAS TWO DIRECTORS. MEMBERS CAN VOTE FOR THE DIRECTOR FROM THE DISTRICT IN WHICH THE MEMBER IS LOCATED. FORM 990, PART VI, SECTION A, LINE 7B CHANGES TO THE COOPERATIVE BY-LAWS ARE VOTED ON AT THE ANNUAL MEETING IN WHICH EACH MEMBER HAS THE RIGHT TO VOTE. 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 FORM 990 WILL BE PROVIDED TO ALL MEMBERS OF THE BOARD OF DIRECTORS AT A MEETING PRIOR TO THE FILING. EACH BOARD MEMBER WILL HAVE THE OPPORTUNITY TO REVIEW THE RETURN AT THAT TIME. THE RETURN WILL ALSO BE REVIEWED BY THE CFO PRIOR TO FILING OF THE RETURN. FORM 990, PART VI, SECTION B, LINE 12C ALL EMPLOYEES, DIRECTORS, THE GENERAL MANAGER/CEO, THE MANAGEMENT STAFF, AND THE ATTORNEY MUST BE FAMILIAR WITH THE CONFLICT OF INTEREST POLICY. EACH IS REQUIRED TO EXECUTE A CONFLICT OF INTERST STATEMENT THAT THEY ARE IN COMPLIANCE WITH THE POLICY. ANNUALLY THE DIRECTORS, GENERAL MANAGER/CEO, ATTORNEY AND MANAGEMENT STAFF EXECUTE A NEW STATEMENT. EMPLOYEES EXECUTE ONE AT A TIME OF EMPLOYMENT AND UPDATE WHEN A CONFLICT ARISES. IF A CONFLICT OF INTEREST EXISTS, THEN THE EMPLOYEE AND SUPERVISOR IN COORDINATION WITH MANAGEMENT SHALL COLLECTIVELY DETERMINE WHAT ACTION SHOULD BE TAKEN. IF A DIRECTOR HAS A CONFLICT OF INTEREST HE/SHE SHALL DISQUALIFY THEMSELVES FROM DECISIONS THAT POSE THE CONFLICT OR THE APPEARANCE OF A CONFLICT OF INTEREST. THE DIRECTOR MAY REQUEST AN OPINION OF THE COOPERATIVE ATTORNEY BEFORE SUCH ACTION IS TAKEN. FORM 990, PART VI, SECTION B, LINE 15 SIOUX VALLEY ENERGY USES A NATIONAL COMPENSATION SURVEY PROVIDED TO US BY OUR NATIONAL ASSOCIATION, NRECA. THE NATIONAL AVERAGE PAY IS USED AS A GUIDANCE FOR ESTABLISHING INITIAL SALARIES AND YEARLY SALARY CHANGES. YEARS OF EXPERIENCE IN A POSITION ARE ALSO FACTORED IN. USING THE SURVEY DATA HELPS TO ESURE SALARIES REMAIN COMPETITIVE WITH THOSE OFFERED AT OTHER RURAL ELECTRIC COOPERATIVES AND THAT THE DATA REMAINS CONSISTENT FROM YEAR TO YEAR. THIS PROCESS IS USED FOR ALL POSITIONS AT SIOUX VALLEY ENERGY ON AN ANNUAL BASIS. THE LAST YEAR THIS PROCESS WAS UNDERTAKEN WAS 2024. ALL DECISIONS ARE DOCUMENTED WITHIN THE EMPLOYEE PERSONNEL FILE. FORM 990, PART VI, SECTION C, LINE 19 THE COOPERATIVE MAKES ITS GOVERNING DOCUMMENTS AND FINACIAL STATEMENTS AVAILABLE TO THE COOPERATIVE MEMBERS UPON REQUEST. FORM 990, PART XI, LINE 9: RETIREMENT OF CAPITAL CREDITS -1,307,121. PATRONAGE DIVIDENDS PAID 5,740,695. FORM 990, PART IX, LINE 4: THE IRS INSTRUCTIONS STATE THAT PATRONAGE DIVIDENDS PAID BY SECTION 501(C)(12) ORGANIZATIONS TO THEIR MEMBERS SHOULD BE REPORTED ON LINE 4. THE ORGANIZATION HAS INTERPRETED PATRONAGE DIVIDENDS PAID TO MEAN PATRONAGE DIVIDENDS ALLOCATED OR TO BE ALLOCATED FOR THE CURRENT YEAR. SINCE THIS ALLOCATION IS NOT AN EXPENSE UNDER GENERALLY ACCEPTED ACCOUNTING PRINCIPLES (GAAP), THIS HAS RESULTED IN A RECONCILING ITEM TO NET ASSETS IN PART XI, ON PAGE 12 OF THE FORM 990.