2026-07-28T16:53:57-05:00 2025-12-31 450250958 EIDE BAILLY LLP 345 N REID PL STE 400 SIOUX FALLS SD 571037034 990 2025-01-01 460221377 GRAND ELECTRIC COOPERATIVE INC GRAN 6052445211 PO BOX 39 BISON SD 57620 ERIC KAHLER GENERAL MANAGER 6052445211 2026-07-28 1 LAURIE HANSON CPA P00851848 6053391999 2026-07-28 2025 2025-03-06 01:10:19Z ERIC KAHLER PO BOX 39 BISON SD 57620 15387586 0 X WWW.GRANDELECTRIC.COOP X 1950 SD PROVIDING ELECTRICITY TO PEOPLE IN RURAL AREAS. 9 9 46 0 8847 6375 0 0 13360103 14308973 433196 410208 37872 16360 13831171 14735541 13020 18970 983820 788237 5382965 5547563 0 0 0 7002280 7959110 13382085 14313880 449086 421661 67556793 71202655 41903673 45208167 25653120 25994488 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 1,882 MEMBERS ALONG 3,843.72 MILES OF ELECTRICAL SERVICE LINE, INSTALLING 1.57 MILES, AND REMOVING 0.77 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 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 111 0 1 46 1 1 1 0 0 0 0 13565193 932117 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 6.90 X X 8532 0 0 ROSS KOPREN VICE PRESIDENT 3.30 X X 10032 0 0 SHARON LONGWOOD SECRETARY 1.70 X X 8532 0 0 MAXINE RASMUSSEN TREASURER 5.70 X X 6032 0 0 ERIC ARNESON DIRECTOR 4.90 X 12532 0 0 LORI BESLER DIRECTOR 3.10 X 8032 0 0 JAMES ERK DIRECTOR UNTIL 06/2025 2.50 X 4519 0 0 ROBERT JOHNSON DIRECTOR 2.70 X 12032 0 0 HARLEY D MOLLMAN DIRECTOR FROM 06/2025 2.70 X 7011 0 0 REGGIE KENNEDY DIRECTOR 4.90 X 12532 0 0 ERIC KAHLER GENERAL MANAGER 20.00 X 126110 0 78626 TORI KLING DIRECTOR OF FINANCE 20.00 X 70441 0 30954 LYLE REIFF MANAGER-TELECOM OPERATIONS 40.00 X 119002 0 86588 MICHAEL L STADLER MANAGER-ELECTRIC OPERATIONS 40.00 X 121707 0 83106 RILEY DALZELL ELECTRIC AREA FOREMAN 40.00 X 117802 0 42962 SCOTT KOAN ELECTRIC AREA FOREMAN 40.00 X 121905 0 36360 TYLER BLASIUS LINEMAN 40.00 X 116940 0 21465 883693 0 380061 18 0 1 0 EPC SERVICES COMPANY 3521 GABEL ROAD BILLINGS MT 59102 BUFFALO SUBSTATION 6629992 TRANSFORMER NETWORK INC PO BOX 187 COLMAN SD 57017 TRANSFORMER 520000 AMERICAN CONTRACTING & CONSULTING 11090 US HWY 212 BELLE FOURCHE SD 57017 PARKING LOT IMPROVEMENTS 187328 3 SALE OF ELECTRICITY 221000 12444834 12444834 OTHER OPERATING 221000 1536551 1536551 COOP CAPITAL CREDITS 221000 327588 327588 14308973 410208 410208 668405 652045 16360 7513 8847 14735541 14316486 8847 410208 X 18970 788237 361512 3995945 873534 316572 1423417 2072204 COST OF POWER 5432992 DISTRIBUTION-MAINTENANC 1236825 DISTRIBUTION-OPERATIONS 568886 CUSTOMER ACCOUNTS 352900 -3128114 14313880 7529598 3964873 1538798 1601607 32277 20785 1899592 1807835 224428 259251 83709665 27964491 48403304 55745174 25824 26820 7435880 7283737 467092 492573 67556793 71202655 1044140 1180272 38716022 41864831 2143511 2163064 41903673 45208167 X 0 0 0 0 25653120 25994488 25653120 25994488 67556793 71202655 X 421661 -80293 X 0 1 X 1 0 122130 122130 2695989 1069556 1626433 80485131 26894935 53590196 406415 406415 55745174 MEMBERSHIPS 3050 C BASIN ELECTRIC POWER COOPERATIVE 5798051 C OTHER PATRONAGE CAPITAL CREDITS 983641 C NATIONAL RURAL UTILITIES COOPERATIVE FINANCE CORPORATION 498995 C 7283737 DEFERRED CREDITS 2141349 CUSTOMER DEPOSITS 21715 2163064 X 14730635 -4906 -4906 14735541 0 14735541 13520737 0 13520737 793143 793143 14313880 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 XI, LINE 2D - OTHER ADJUSTMENTS: EXPENSES INCLUDED IN REVENUE -4,906. PART XII, LINE 4B - OTHER ADJUSTMENTS: ALLOCATIONS OF 2025 MARGINS TO MEMBERS IN 2026 788,237. EXPENSES INCLUDED IN REVENUE 4,906. 1 MITCHELL TECHNICAL COLLEGE FOUNDATION 1800 EAST SPRUCE STREET MITCHELL SD 57301 460452950 501(C)(3) 10100 0 ENERGY TRAINING UNDERGROUND LAB 1 0 PART I, LINE 2: GRAND ELECTRIC COOPERATIVE, INC, ENTERED INTO A MEMO OF UNDERSTANDING WITH MITCHELL TECHNICAL COLLEGE FOUNDATION TO PROVIDE A CONTRIBUTION FOR THE CONSTRUCTION OF MITCHELL TECHNICAL COLLEGE'S ENERGY TRAINING UNDERGROUND LAB. IF CONSTRUCTION OF THE LAB FAILS TO BE COMPLETED IN AN AGREED UPON TIMELINE THE COLLEGE PRESIDENT WILL CONTACT GRAND ELECTRIC COOPERATIVE, INC, TO DISCUSS ALTERNATIVE ARRANGEMENTS FOR USE OF THE COOPERATIVES DONATION TO SUPPORT ENERGY TRAINING OR RETURN FUNDS TO THE COOPERATIVE IF AN AGREEMENT CANNOT BE REACHED. X 0 1 X X 0 0 0 LYLE REIFF MANAGER-TELECOM OPERATIONS 114988 0 450 0 3564 0 48334 0 41538 0 208874 0 0 0 ERIC KAHLER GENERAL MANAGER 119259 0 225 0 6626 0 63675 0 17377 0 207162 0 0 0 MICHAEL L STADLER MANAGER-ELECTRIC OPERATIONS 120010 0 450 0 1247 0 48813 0 34573 0 205093 0 0 0 RILEY DALZELL ELECTRIC AREA FOREMAN 116732 0 450 0 620 0 29228 0 16171 0 163201 0 0 0 SCOTT KOAN ELECTRIC AREA FOREMAN 117073 0 450 0 4382 0 10357 0 27383 0 159645 0 0 0 PART I, LINE 1A THE COOPERATIVE REQUIRES THE GENERAL MANAGER TO LIVE IN THE HOUSE PROVIDED FOR HIM BY THE ORGANIZATION. 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, LINE 2: THE TOTAL NUMBER OF EMPLOYEES RECEIVING MORE THAN $100,000 IN REPORTABLE COMPENSATION FOR 2025 INCLUDES ERIC KAHLER AND TORI KLING. AS NOTED ELSEWHERE IN SCHEDULE O, FIFTY PERCENT OF TOTAL COMPENSATION FOR MR. KAHLER 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 -868,530. ALLOCATIONS OF 2025 MARGINS TO MEMBERS IN 2026 788,237.