Totals
- Total revenue
- $14,072,369
- Total expenses
- $14,072,369
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $13,994,942
- Investment income
- -$491,218
- Other revenue
- $568,645
- Total assets, end of year
- $46,266,521
- Total liabilities, end of year
- $29,557,082
- Net assets or fund balances, end of year
- $16,709,439
- 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: SALE OF POWER
total $13,994,942 · related or exempt $13,994,942
-
3 · Investment income
total $76,882 · excluded $76,882
-
7a · Gross sales of assets other than inventory
other assets $131,712
-
7b · Less cost or other basis and sales expenses
other assets $699,812
-
7c · Gain or loss
other assets -$568,100
-
7d · Net gain or loss
total -$568,100 · related or exempt -$568,100
-
10a · Gross sales of inventory
$16,201
-
10b · Cost of goods sold
$15,383
-
10c · Net income from sales of inventory
total $818 · related or exempt $818
-
11a · Other revenue: CAPITAL CREDITS
total $567,827 · related or exempt $567,827
-
11e · Other revenue, total
$567,827
Functional expenses
Part IX, the statement of functional expenses.
-
4 · Benefits paid to or for members
total $866,619
-
5 · Compensation of officers, directors and key employees
total $83,400
-
8 · Pension plan contributions
total $264,642
-
11a · Fees: management
total $278,559
-
20 · Interest
total $931,891
-
22 · Depreciation, depletion and amortization
total $1,327,411
-
24a · Other expenses: COST OF POWER
total $7,079,557
-
24b · Other expenses: DISTRIBUTION/TRANSMISSI
total $2,151,289
-
24c · Other expenses: ADMINISTRATIVE & GENERA
total $769,820
-
24d · Other expenses: CONSUMER SERVICES AND S
total $309,254
-
24e · All other expenses
total $9,927
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $3,157,330 · end of year $1,618,335
-
2 · Savings and temporary cash investments
beginning of year $1,100,000 · end of year $800,000
-
4 · Accounts receivable
beginning of year $1,407,256 · end of year $1,516,752
-
8 · Inventories for sale or use
beginning of year $1,682,359 · end of year $2,145,403
-
9 · Prepaid expenses and deferred charges
beginning of year $9,887 · end of year $8,679
-
10a · Land, buildings and equipment: cost or other basis
$60,601,484
-
10b · Land, buildings and equipment: accumulated depreciation
$25,050,821
-
10c · Land, buildings and equipment, net
beginning of year $32,949,039 · end of year $35,550,663
-
12 · Investments: other securities
beginning of year $4,792,838 · end of year $4,546,630
-
15 · Other assets
beginning of year $158,115 · end of year $80,059
-
17 · Accounts payable and accrued expenses
beginning of year $963,837 · end of year $1,230,552
-
23 · Secured mortgages and notes payable
beginning of year $27,448,319 · end of year $27,587,890
-
25 · Other liabilities
beginning of year $741,197 · end of year $738,640
-
29 · Capital stock, trust principal or current funds
beginning of year $0 · end of year $0
-
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 $16,103,471 · end of year $16,709,439
Mission and programs · 2023
Mission
THE PURPOSE OF KEM ELECTRIC IS TO MAKE ITS MEMBERS MORE PRODUCTIVE AND INCREASE THEIR QUALITY OF LIFE. THIS WILL BE ACCOMPLISHED BY: PROVIDING SAFE, RELIABLE, QUALITY ELECTRIC SERVICE; PROVIDING OTHER SERVICES THAT WILL BENEFIT THE MEMBERSHIP.
Activities or mission (Part I)
KEM ELECTRIC COOPERATIVE, INC., IS A DISTRIBUTION COOPERATIVE THAT PROVIDES ELECTRICAL ENERGY TO CONSUMERS IN THE RURAL AREAS OF FOUR SOUTH CENTRAL COUNTIES IN NORTH DAKOTA.
-
RURAL ELECTRIC POWER COOP SUPPLYING POWER TO RURAL MEMBERS
As filed on the 2023 return.
Listed in Part VII
-
Dean DewaldDEAN DEWALD
DIRECTOR
- Total calculated
- $10,700
- From this org
- $10,700
- From related orgs
- $0
- Other
- $0
- Hours/week
- 3.98
-
Carmen EssigCARMEN ESSIG
DIRECTOR
- Total calculated
- $16,700
- From this org
- $16,700
- From related orgs
- $0
- Other
- $0
- Hours/week
- 4.48
-
Carter Vander WalCARTER VANDER WAL
SECRETARY/TREASURER
- Total calculated
- $12,200
- From this org
- $12,200
- From related orgs
- $0
- Other
- $0
- Hours/week
- 6.65
-
Victor WaldVICTOR WALD
CHAIRMAN
- Total calculated
- $9,800
- From this org
- $9,800
- From related orgs
- $0
- Other
- $0
- Hours/week
- 2.96
-
John BeckJOHN BECK
VICE CHAIRMAN
- Total calculated
- $12,700
- From this org
- $12,700
- From related orgs
- $0
- Other
- $0
- Hours/week
- 6.13
-
Dean Hummel Term 82023DEAN HUMMEL TERM 82023
DIRECTOR
- Total calculated
- $11,100
- From this org
- $11,100
- From related orgs
- $0
- Other
- $0
- Hours/week
- 4.43
-
Neil MeidingerNEIL MEIDINGER
DIRECTOR
- Total calculated
- $10,200
- From this org
- $10,200
- From related orgs
- $0
- Other
- $0
- Hours/week
- 4.21
-
Jason Bentz IeaJASON BENTZ IEA
CO-MANAGER
- Total calculated
- $0
- Hours/week
- 0 + 40 related
-
Travis Kupper IeaTRAVIS KUPPER IEA
CO-MANAGER
- Total calculated
- $0
- Hours/week
- 0 + 40 related
-
Alex Craigmile IeaALEX CRAIGMILE IEA
CFO
- Total calculated
- $0
- Hours/week
- 0 + 40 related
-
Dale NagelDALE NAGEL
CHIEF OF STAFF
- Total calculated
- $205,974
- From this org
- $144,329
- From related orgs
- $0
- Other
- $61,645
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $144,329
- Bonus
- $0
- Other
- $0
- Deferred
- $28,549
- Nontaxable benefits
- $33,096
- Filer's total
- $205,974
-
Kevin HornerKEVIN HORNER
AREA FOREMAN
- Total calculated
- $177,712
- From this org
- $128,016
- From related orgs
- $0
- Other
- $49,696
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $128,016
- Bonus
- $0
- Other
- $0
- Deferred
- $17,920
- Nontaxable benefits
- $31,776
- Filer's total
- $177,712
-
Martin MesserMARTIN MESSER
AREA FOREMAN
- Total calculated
- $174,127
- From this org
- $125,887
- From related orgs
- $0
- Other
- $48,240
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $125,887
- Bonus
- $0
- Other
- $0
- Deferred
- $16,462
- Nontaxable benefits
- $31,778
- Filer's total
- $174,127
-
Gerald ZinkGERALD ZINK
JOURNEYMAN LINEMAN
- Total calculated
- $166,287
- From this org
- $114,144
- From related orgs
- $0
- Other
- $52,143
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $114,144
- Bonus
- $0
- Other
- $0
- Deferred
- $20,741
- Nontaxable benefits
- $31,402
- Filer's total
- $166,287
-
Marcy SandersMARCY SANDERS
MANAGER OF MEMBER SERVICES
- Total calculated
- $158,178
- From this org
- $105,765
- From related orgs
- $0
- Other
- $52,413
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $105,765
- Bonus
- $0
- Other
- $0
- Deferred
- $25,822
- Nontaxable benefits
- $26,591
- Filer's total
- $158,178
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
None.
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
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.
-
501(C)(3) · CHARITABLE CONTRIBUTIONS TO LOW INCOME AND NEEDY FAMILIES · ND
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 31 July 2024
- IRS schema version
- 2023v5.1
- Source object
- 202422479349301202
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
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