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Nonprofiteer
← BURKE DIVIDE ELECTRIC COOPERATIVE INC

Form 990 for tax year 2022

Filed by BURKE DIVIDE ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$23,141,086
Total expenses
$23,141,086
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$23,137,985
Investment income
$140,089
Other revenue
-$136,988
Total assets, end of year
$100,536,874
Total liabilities, end of year
$58,225,793
Net assets or fund balances, end of year
$42,311,081
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
not reported

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 2a · Program service revenue: Electricity

    total $21,696,033 · related or exempt $21,696,033

  • 2b · Program service revenue: Capital Credits

    total $1,219,110 · related or exempt $1,219,110

  • 2f · All other program service revenue

    total $222,842 · related or exempt $222,842

  • 3 · Investment income

    total $29,393 · excluded $29,393

  • 7a · Gross sales of assets other than inventory

    other assets $110,696

  • 7b · Less cost or other basis and sales expenses

    other assets $0

  • 7c · Gain or loss

    other assets $110,696

  • 7d · Net gain or loss

    total $110,696 · excluded $110,696

  • 10a · Gross sales of inventory

    $694,466

  • 10b · Cost of goods sold

    $831,454

  • 10c · Net income from sales of inventory

    total -$136,988 · related or exempt -$136,988

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $2,899,869

  • 5 · Compensation of officers, directors and key employees

    total $877,116

  • 7 · Other salaries and wages

    total $3,182,726

  • 8 · Pension plan contributions

    total $685,102

  • 10 · Payroll taxes

    total $281,055

  • 20 · Interest

    total $1,531,459

  • 22 · Depreciation, depletion and amortization

    total $3,243,618

  • 24a · Other expenses: Cost of Power

    total $9,788,033

  • 24b · Other expenses: Distribution Expense

    total $2,989,210

  • 24c · Other expenses: Admin & General

    total $2,022,189

  • 24d · Other expenses: Customer Service & Sale

    total $367,804

  • 24e · All other expenses

    total -$4,727,095

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $10,341,209 · end of year $6,930,039

  • 4 · Accounts receivable

    beginning of year $1,119,279 · end of year $7,409,525

  • 8 · Inventories for sale or use

    beginning of year $1,993,673 · end of year $2,935,478

  • 9 · Prepaid expenses and deferred charges

    beginning of year $331,995 · end of year $326,513

  • 10a · Land, buildings and equipment: cost or other basis

    $96,193,228

  • 10b · Land, buildings and equipment: accumulated depreciation

    $23,884,859

  • 10c · Land, buildings and equipment, net

    beginning of year $71,344,475 · end of year $72,308,369

  • 12 · Investments: other securities

    beginning of year $797,164 · end of year $704,591

  • 13 · Investments: program-related

    beginning of year $8,385,911 · end of year $9,319,002

  • 15 · Other assets

    beginning of year $106,435 · end of year $603,357

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,768,112 · end of year $2,008,006

  • 19 · Deferred revenue

    beginning of year $1,164,347 · end of year $1,990,123

  • 21 · Escrow or custodial account liability

    beginning of year $615 · end of year $612

  • 23 · Secured mortgages and notes payable

    beginning of year $50,894,393 · end of year $54,227,052

  • 29 · Capital stock, trust principal or current funds

    beginning of year $6,827,011 · end of year $6,831,904

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $33,765,663 · end of year $35,479,177

Mission and programs · 2022

Mission

To provide reliable, high quality electricity at a competitive cost, to strengthen the area economy and to lead in improving the region's quality of life through innovative, state of the art products and service while operating within cooperative principles.

Activities or mission (Part I)

To provide reliable high quality electricity to members at a competitive cost.

  • The Cooperative has 3,836 active services, serves 1,407 members and maintains 2,572 miles of line.

As filed on the 2022 return.

Listed in Part VII

  • David Sigloh

    President

    Total calculated
    $14,980
    From this org
    $14,980
    From related orgs
    $0
    Other
    $0
    Hours/week
    9.3

  • Kent Haugland

    Vice President

    Total calculated
    $14,100
    From this org
    $14,100
    From related orgs
    $0
    Other
    $0
    Hours/week
    7.7

  • Lynn Jacobson

    Secretary/Treasurer

    Total calculated
    $12,332
    From this org
    $12,332
    From related orgs
    $0
    Other
    $0
    Hours/week
    7.9

  • Steven Overlee

    Assistant Secretary/Treasurer

    Total calculated
    $10,532
    From this org
    $32
    From related orgs
    $0
    Other
    $10,500
    Hours/week
    6.4

  • Lane Titus

    Director

    Total calculated
    $7,332
    From this org
    $7,332
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.8

  • Kurt Koppelsloen

    Director

    Total calculated
    $9,332
    From this org
    $9,332
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.6

  • Jeff Dahlin

    Director

    Total calculated
    $7,682
    From this org
    $32
    From related orgs
    $0
    Other
    $7,650
    Hours/week
    5.6

  • Jerry King

    General Manager

    Total calculated
    $396,341
    From this org
    $245,989
    From related orgs
    $0
    Other
    $150,352
    Hours/week
    52

    Schedule J breakdown matched by us

    Base
    $243,337
    Bonus
    $0
    Other
    $2,652
    Deferred
    $123,010
    Nontaxable benefits
    $30,099
    Filer's total
    $399,098

  • Brooke Watterud

    Office Manager

    Total calculated
    $167,255
    From this org
    $113,588
    From related orgs
    $0
    Other
    $53,667
    Hours/week
    42.1

    Schedule J breakdown matched by us

    Base
    $113,484
    Bonus
    $0
    Other
    $104
    Deferred
    $24,969
    Nontaxable benefits
    $29,972
    Filer's total
    $168,529

  • Eric Sieg

    Ops Foreman(Jan-May)/Ops Manager(May-Dec)

    Total calculated
    $202,394
    From this org
    $137,164
    From related orgs
    $0
    Other
    $65,230
    Hours/week
    43

    Schedule J breakdown matched by us

    Base
    $137,013
    Bonus
    $0
    Other
    $151
    Deferred
    $36,438
    Nontaxable benefits
    $30,206
    Filer's total
    $203,808

  • Vernon Unruh

    Operations Manager (Jan-May)

    Total calculated
    $78,781
    From this org
    $57,312
    From related orgs
    $0
    Other
    $21,469
    Hours/week
    51.5

  • Lex Lindbo

    Line Foreman

    Total calculated
    $190,258
    From this org
    $146,012
    From related orgs
    $0
    Other
    $44,246
    Hours/week
    46.9

    Schedule J breakdown matched by us

    Base
    $145,920
    Bonus
    $0
    Other
    $92
    Deferred
    $43,533
    Nontaxable benefits
    $1,963
    Filer's total
    $191,508

  • Jason Bruner

    Line Foreman

    Total calculated
    $212,629
    From this org
    $139,431
    From related orgs
    $0
    Other
    $73,198
    Hours/week
    47.4

    Schedule J breakdown matched by us

    Base
    $139,308
    Bonus
    $0
    Other
    $123
    Deferred
    $45,666
    Nontaxable benefits
    $28,782
    Filer's total
    $213,879

  • George Knutson

    Line Foreman

    Total calculated
    $192,650
    From this org
    $130,299
    From related orgs
    $0
    Other
    $62,351
    Hours/week
    45.2

    Schedule J breakdown matched by us

    Base
    $129,949
    Bonus
    $0
    Other
    $350
    Deferred
    $35,747
    Nontaxable benefits
    $27,895
    Filer's total
    $193,941

  • Terry Knutson

    Journeyman Lineman

    Total calculated
    $161,984
    From this org
    $129,048
    From related orgs
    $0
    Other
    $32,936
    Hours/week
    46.1

    Schedule J breakdown matched by us

    Base
    $128,936
    Bonus
    $0
    Other
    $112
    Deferred
    $22,308
    Nontaxable benefits
    $11,787
    Filer's total
    $163,143

  • Scott Lesmeister

    Journeyman Lineman

    Total calculated
    $174,788
    From this org
    $129,925
    From related orgs
    $0
    Other
    $44,863
    Hours/week
    46.3

    Schedule J breakdown matched by us

    Base
    $129,850
    Bonus
    $0
    Other
    $75
    Deferred
    $19,872
    Nontaxable benefits
    $26,173
    Filer's total
    $175,970

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 1a · Travel for companions
  • 1a · Health or social club dues or initiation fees
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement

The filer's explanations (Part III)

Part I, Line 1a
Travel for companions - The Cooperative will pay for the air fare expenses for spouses to attend the NRECA Annual Meeting with the General Manager and Board of Directors. Health club fee - The Cooperative offers a health club credit to all employees. The credit is $20.00 per month reimbursement only payable upon presentation of actual receipt. These amounts are reported as taxable wages for the individual.
Form 990, Schedule J, Part II, Column C:
Compensation of Officers, Directors, Key Employees, Highest Compensated Employees: Included in other deferred compensation is the estimated current year increase in the actuarial value of the defined benefit plan. These amounts do not represent any current year contributions to the plan. They are estimates of the increase in the actuarial value of the plans received from the NRECA. The current year expense and the increase in actuarial value for each employee are reflected in the statement for Form 990, Part VII, Column f.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

  • Burke-Divide Electric Trust

    501(c)(3) · Operation Round Up · ND · controlled entity

    Directly controlled by Burke-Divide Electric Cooperative

Provenance

Return type
form_990
Tax year
2022
Filed
26 June 2023
IRS schema version
2022v5.0
Source object
202311789349300116

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