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Nonprofiteer
← H-D ELECTRIC COOPERATIVE INC

Form 990 for tax year 2022

Filed by H-D ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$13,935,647
Total expenses
$13,935,647
Contributions and grants received
$0
Grants paid
$1,500
Program service revenue
$13,788,225
Investment income
$83,124
Other revenue
$64,298
Total assets, end of year
$45,699,973
Total liabilities, end of year
$31,373,784
Net assets or fund balances, end of year
$14,326,189
Program services expenses (Part IX)
$0
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
not reported

Program services were 0.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

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: SALE OF ELECTRICITY

    total $12,752,468 · related or exempt $12,752,468

  • 2b · Program service revenue: COOP CAPITAL CREDITS

    total $1,035,757 · related or exempt $1,035,757

  • 3 · Investment income

    total $73,803 · excluded $73,803

  • 7a · Gross sales of assets other than inventory

    other assets $9,321

  • 7c · Gain or loss

    other assets $9,321

  • 7d · Net gain or loss

    total $9,321 · excluded $9,321

  • 8c · Net income from fundraising events

    total $0

  • 10a · Gross sales of inventory

    $699,385

  • 10b · Cost of goods sold

    $635,087

  • 10c · Net income from sales of inventory

    total $64,298 · related or exempt $55,215 · unrelated business $9,083

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $1,500

  • 4 · Benefits paid to or for members

    total $1,692,660

  • 5 · Compensation of officers, directors and key employees

    total $481,046

  • 7 · Other salaries and wages

    total $535,322

  • 8 · Pension plan contributions

    total $379,383

  • 9 · Other employee benefits

    total $396,397

  • 10 · Payroll taxes

    total $140,512

  • 11b · Fees: legal

    total $9,715

  • 11c · Fees: accounting

    total $16,459

  • 11g · Fees: other

    total $68,354

  • 12 · Advertising and promotion

    total $13,769

  • 13 · Office expenses

    total $75,557

  • 14 · Information technology

    total $104,902

  • 16 · Occupancy

    total $1,732

  • 17 · Travel

    total $242,689

  • 20 · Interest

    total $735,365

  • 21 · Payments to affiliates

    total $58,598

  • 22 · Depreciation, depletion and amortization

    total $1,331,005

  • 24a · Other expenses: COST OF PURCHASE POWER

    total $7,073,835

  • 24b · Other expenses: MISC. OPERATING EXPENSES

    total $282,787

  • 24c · Other expenses: SD kWh TAXES

    total $195,348

  • 24d · Other expenses: UNRELATED BUS. INCOME TAX PD

    total $1,754

  • 24e · All other expenses

    total $96,958

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $21,367 · end of year $27,081

  • 2 · Savings and temporary cash investments

    beginning of year $1,016,096 · end of year $1,470,373

  • 4 · Accounts receivable

    beginning of year $1,331,532 · end of year $1,354,042

  • 8 · Inventories for sale or use

    beginning of year $1,306,803 · end of year $1,810,851

  • 9 · Prepaid expenses and deferred charges

    beginning of year $559,293 · end of year $594,633

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

    $47,764,522

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

    $18,349,803

  • 10c · Land, buildings and equipment, net

    beginning of year $27,569,901 · end of year $29,414,719

  • 12 · Investments: other securities

    beginning of year $2,470,260 · end of year $2,520,078

  • 13 · Investments: program-related

    beginning of year $7,968,916 · end of year $8,508,196

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,325,008 · end of year $1,381,217

  • 23 · Secured mortgages and notes payable

    beginning of year $25,322,359 · end of year $27,122,362

  • 25 · Other liabilities

    beginning of year $2,556,466 · end of year $2,870,205

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

    beginning of year $786,148 · end of year $938,540

  • 31 · Retained earnings, endowment or other funds

    beginning of year $12,254,187 · end of year $13,387,649

Mission and programs · 2022

Mission

COMMITTED TO SAFELY ENHANCE THE QUALITY OF LIFE FOR OUR MEMBERS, EMPLOYEES AND COMMUNITIES.

Activities or mission (Part I)

PROVIDE SAFE RELIABLE HIGH QUALITY ELECTRIC SERVICE AT THE BEST VALUE POSSIBLE TO OUR MEMBERS

  • PROVIDED ELECTRIC SERVICE TO APPROXIMATELY 2,924 MEMBERS. CONNECTED 45 NEW SERVICES. CONSTRUCTED, RETIRED AND MAINTAINED OVERHEAD & UNDERGROUND ELECTRIC LINES.

As filed on the 2022 return.

Listed in Part VII

  • Matthew Hotzler

    GENERAL MANAGER

    Total calculated
    $271,135
    From this org
    $166,969
    From related orgs
    $0
    Other
    $104,166
    Hours/week
    48

    Schedule J breakdown matched by us

    Base
    $157,693
    Bonus
    $374
    Other
    $8,902
    Deferred
    $104,166
    Nontaxable benefits
    not reported
    Filer's total
    $271,135

  • Troy Kwasniewski

    OPERATIONS MANAGER

    Total calculated
    $206,196
    From this org
    $124,842
    From related orgs
    $0
    Other
    $81,354
    Hours/week
    42

    Schedule J breakdown matched by us

    Base
    $113,333
    Bonus
    $374
    Other
    $11,135
    Deferred
    $81,354
    Nontaxable benefits
    not reported
    Filer's total
    $206,196

  • Annette Aberle

    FINANCE ADMIN MGR

    Total calculated
    $176,766
    From this org
    $106,620
    From related orgs
    $0
    Other
    $70,146
    Hours/week
    41

    Schedule J breakdown matched by us

    Base
    $102,557
    Bonus
    $374
    Other
    $3,689
    Deferred
    $70,146
    Nontaxable benefits
    not reported
    Filer's total
    $176,766

  • Dale Williams

    BOARD DIRECTOR

    Total calculated
    $8,865
    From this org
    $8,865
    From related orgs
    $0
    Other
    $0
    Hours/week
    7

    Schedule J breakdown matched by us

    Base
    $8,865
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $8,865

  • Kevin Deboer

    BOARD DIRECTOR

    Total calculated
    $5,365
    From this org
    $5,365
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

    Schedule J breakdown matched by us

    Base
    $5,365
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $5,365

  • Steven Hansen

    BOARD TREASURER

    Total calculated
    $7,365
    From this org
    $7,365
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

    Schedule J breakdown matched by us

    Base
    $7,365
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $7,365

  • Casper Niemann

    BOARD DIRECTOR

    Total calculated
    $6,490
    From this org
    $6,490
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

    Schedule J breakdown matched by us

    Base
    $6,490
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $6,490

  • Laurie Seefeldt

    BOARD DIRECTOR

    Total calculated
    $3,240
    From this org
    $3,240
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

    Schedule J breakdown matched by us

    Base
    $3,240
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $3,240

  • Todd Moritz

    BOARD DIRECTOR

    Total calculated
    $4,240
    From this org
    $4,240
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

    Schedule J breakdown matched by us

    Base
    $4,240
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $4,240

  • Roxanne Bass

    BOARD SECRETARY

    Total calculated
    $6,740
    From this org
    $6,740
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

    Schedule J breakdown matched by us

    Base
    $6,740
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $6,740

  • Terry Strohfus

    BOARD VICE PRESIDENT

    Total calculated
    $4,115
    From this org
    $4,115
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

    Schedule J breakdown matched by us

    Base
    $4,115
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $4,115

  • Bert Rogness

    BOARD PRESIDENT

    Total calculated
    $3,240
    From this org
    $3,240
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

    Schedule J breakdown matched by us

    Base
    $3,240
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $3,240

  • Kevin Holida

    LEAD LINEMAN

    Total calculated
    $183,740
    From this org
    $118,649
    From related orgs
    $0
    Other
    $65,091
    Hours/week
    47

    Schedule J breakdown matched by us

    Base
    $111,162
    Bonus
    $374
    Other
    $7,113
    Deferred
    $65,091
    Nontaxable benefits
    not reported
    Filer's total
    $183,740

  • Joseph Raml

    LEAD LINEMAN

    Total calculated
    $158,539
    From this org
    $109,958
    From related orgs
    $0
    Other
    $48,581
    Hours/week
    46

    Schedule J breakdown matched by us

    Base
    $107,260
    Bonus
    $374
    Other
    $2,324
    Deferred
    $48,581
    Nontaxable benefits
    not reported
    Filer's total
    $158,539

  • Thomas Lundberg

    MEMBER SERVICE MANAGER

    Total calculated
    $165,395
    From this org
    $100,919
    From related orgs
    $0
    Other
    $64,476
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $99,270
    Bonus
    $374
    Other
    $1,275
    Deferred
    $64,476
    Nontaxable benefits
    not reported
    Filer's total
    $165,395

  • Derek Bille

    LINEMAN

    Total calculated
    $125,736
    From this org
    $100,953
    From related orgs
    $0
    Other
    $24,783
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $100,432
    Bonus
    $374
    Other
    $147
    Deferred
    $24,783
    Nontaxable benefits
    not reported
    Filer's total
    $125,736

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 · Health or social club dues or initiation fees
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 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
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Part I, Line 1a
THE COOPERATIVE HAS A POLICY THAT PROVIDES A WELLNESS BENEFIT WHICH OFFERS
Part I, Line 1a
A COST SHARE BENEFIT OF HEALTH CLUB FEES. THIS BENEFIT IS OFFERED TO ALL
Part I, Line 1a
EMPLOYEES. FEES ARE PAID DIRECTLY TO THE HEALTH CLUB OR IF PAID DIRECTLY
Part I, Line 1a
TO AN EMPLOYEE, THE EMPLOYEE MUST PROVIDE A RECEIPT WITH THEIR NAME ON IT.
Part II
COLUMN C: INCLUDED IN RETIREMENT AND DEFERRED COMPENSATION IS THE
Part II
ESTIMATED CURRENT YEAR INCREASE IN THE ACTUARIAL VALUE OF THE DEFINED
Part II
BENEFIT PLAN. THIS DOES NOT REPRESENT CURRENT YEAR CONTRIBUTIONS TO THE
Part II
PLAN, RATHER IT IS AN ESTIMATE OF THE INCREASE IN THE ACTUARIAL VALUE
Part II
OF THE PLAN AS CALCULATED BY THE PLAN ADMINISTRATOR.

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.

Provenance

Return type
form_990
Tax year
2022
Filed
4 May 2023
IRS schema version
2022v5.0
Source object
202341249349301639

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