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Nonprofiteer
← BLACK HILLS ELECTRIC COOPERATIVE INC

Form 990 for tax year 2023

Filed by BLACK HILLS ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$24,904,597
Total expenses
$21,076,110
Contributions and grants received
$0
Grants paid
$15,835
Program service revenue
$24,601,044
Investment income
$296,556
Other revenue
$6,997
Total assets, end of year
$82,154,386
Total liabilities, end of year
$45,930,003
Net assets or fund balances, end of year
$36,224,383
Program services expenses (Part IX)
$0
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$21,076,110

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.

  • 1a · Federated campaigns

    $0

  • 1b · Membership dues

    $0

  • 1c · Fundraising events

    $0

  • 1d · Related organizations

    $0

  • 1e · Government grants (contributions)

    $0

  • 1f · All other contributions, gifts and grants

    $0

  • 1g · Noncash contributions included above

    $0

  • 2a · Program service revenue: Sale of Electricity

    total $22,963,432 · related or exempt $22,963,432 · unrelated business $0 · excluded $0

  • 2b · Program service revenue: G&T Capital Credits

    total $914,983 · related or exempt $914,983 · unrelated business $0 · excluded $0

  • 2c · Program service revenue: Other Capital Credits

    total $154,322 · related or exempt $154,322 · unrelated business $0 · excluded $0

  • 2d · Program service revenue: Transmission Credit

    total $463,096 · related or exempt $463,096 · unrelated business $0 · excluded $0

  • 2e · Program service revenue: Pole Attachment Rental

    total $32,970 · related or exempt $32,970 · unrelated business $0 · excluded $0

  • 2f · All other program service revenue

    total $72,241 · related or exempt $72,241 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $296,556 · related or exempt $0 · unrelated business $0 · excluded $296,556

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 5 · Royalties

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 6a · Gross rents

    real property $0 · personal property $0

  • 6b · Less rental expenses

    real property $0 · personal property $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 6d · Net rental income or loss

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 7a · Gross sales of assets other than inventory

    securities $0 · other assets $0

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

    securities $0 · other assets $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 7d · Net gain or loss

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 8a · Fundraising events: gross income

    $0

  • 8a · Fundraising events: contributions included on line 1c

    $0

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $0 · unrelated business $0 · excluded $0

  • 9a · Gaming: gross income

    $0

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 10a · Gross sales of inventory

    $118,781

  • 10b · Cost of goods sold

    $112,490

  • 10c · Net income from sales of inventory

    total $6,291 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11a · Other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11b · Other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11c · Other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11d · All other revenue

    total $706 · related or exempt $706 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $706

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $15,835 · program services $0

  • 2 · Grants to domestic individuals

    total $0 · program services $0

  • 3 · Grants to foreign organizations and individuals

    total $0 · program services $0

  • 4 · Benefits paid to or for members

    total $1,999,698 · program services $0

  • 5 · Compensation of officers, directors and key employees

    total $503,196 · program services $0 · management and general $0 · fundraising $0

  • 6 · Compensation of disqualified persons

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 7 · Other salaries and wages

    total $1,586,954 · program services $0 · management and general $0 · fundraising $0

  • 8 · Pension plan contributions

    total $610,300 · program services $0 · management and general $0 · fundraising $0

  • 9 · Other employee benefits

    total $513,899 · program services $0 · management and general $0 · fundraising $0

  • 10 · Payroll taxes

    total $164,173 · program services $0 · management and general $0 · fundraising $0

  • 11a · Fees: management

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11b · Fees: legal

    total $15,505 · program services $0 · management and general $0 · fundraising $0

  • 11c · Fees: accounting

    total $27,620 · program services $0 · management and general $0 · fundraising $0

  • 11d · Fees: lobbying

    total $1,650 · program services $0 · management and general $0 · fundraising $0

  • 11e · Fees: professional fundraising services

    total $0 · fundraising $0

  • 11f · Fees: investment management

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11g · Fees: other

    total $241,215 · program services $0 · management and general $0 · fundraising $0

  • 12 · Advertising and promotion

    total $127,039 · program services $0 · management and general $0 · fundraising $0

  • 13 · Office expenses

    total $163,500 · program services $0 · management and general $0 · fundraising $0

  • 14 · Information technology

    total $155,727 · program services $0 · management and general $0 · fundraising $0

  • 15 · Royalties

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 16 · Occupancy

    total $132,102 · program services $0 · management and general $0 · fundraising $0

  • 17 · Travel

    total $363,875 · program services $0 · management and general $0 · fundraising $0

  • 18 · Travel or entertainment for public officials

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 19 · Conferences, conventions and meetings

    total $55,083 · program services $0 · management and general $0 · fundraising $0

  • 20 · Interest

    total $1,082,559 · program services $0 · management and general $0 · fundraising $0

  • 21 · Payments to affiliates

    total $103,323 · program services $0 · management and general $0 · fundraising $0

  • 22 · Depreciation, depletion and amortization

    total $3,036,588 · program services $0 · management and general $0 · fundraising $0

  • 23 · Insurance

    total $147,067 · program services $0 · management and general $0 · fundraising $0

  • 24a · Other expenses: POWER AND TRANSMISSION

    total $11,531,968 · program services $0 · management and general $0 · fundraising $0

  • 24b · Other expenses: OPERATIONS/MAINTENANCE OF LINE

    total $232,313 · program services $0 · management and general $0 · fundraising $0

  • 24c · Other expenses: GROSS REC TAX

    total $213,540 · program services $0 · management and general $0 · fundraising $0

  • 24d · Other expenses: CAPITAL CREDIT RETIREMENT

    total -$1,999,698 · program services $0 · management and general $0 · fundraising $0

  • 24e · All other expenses

    total $51,079 · program services $0 · management and general $0 · fundraising $0

  • 26 · Joint costs (an allocation of the lines above)

    total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $450 · end of year $450

  • 2 · Savings and temporary cash investments

    beginning of year $5,525,420 · end of year $6,691,513

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $3,289,397 · end of year $2,871,187

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $3,007,313 · end of year $3,320,814

  • 9 · Prepaid expenses and deferred charges

    beginning of year $138,862 · end of year $133,691

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

    $93,496,212

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

    $37,870,681

  • 10c · Land, buildings and equipment, net

    beginning of year $54,267,065 · end of year $55,625,531

  • 11 · Investments: publicly traded securities

    beginning of year $6,378 · end of year $7,997

  • 12 · Investments: other securities

    beginning of year $500 · end of year $500

  • 13 · Investments: program-related

    beginning of year $12,256,702 · end of year $13,430,246

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $27,460 · end of year $72,457

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,170,547 · end of year $2,622,691

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $2,150,000 · end of year $2,700,000

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $35,457,363 · end of year $37,151,392

  • 24 · Unsecured notes and loans payable

    beginning of year $167,000 · end of year $167,000

  • 25 · Other liabilities

    beginning of year $3,229,608 · end of year $3,288,920

  • 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 $4,364,101 · end of year $6,215,348

  • 31 · Retained earnings, endowment or other funds

    beginning of year $29,980,928 · end of year $30,009,035

Mission and programs · 2023

Mission

Black Hills Electric Cooperative is a non-profit member owned organization whose mission is to provide great electric distribution service at the lowest cost consistent with sound business practices.

  • Provide electric service to 11,188 service locations in the rural area of the Black Hills and southwest Soth Dakota 24 hours each day of the year.

    Expenses $21,076,110 · Grants $15,835 · Revenue $24,601,750

As filed on the 2023 return.

Listed in Part VII

  • Walker Witt

    CEO

    Total calculated
    $388,722
    From this org
    $275,031
    From related orgs
    $0
    Other
    $113,691
    Hours/week
    53

    Schedule J breakdown matched by us

    Base
    $261,981
    Bonus
    $200
    Other
    $12,850
    Deferred
    $83,102
    Nontaxable benefits
    $30,589
    Filer's total
    $388,722

  • Sammi Langendorf

    CFO

    Total calculated
    $243,644
    From this org
    $162,810
    From related orgs
    $0
    Other
    $80,834
    Hours/week
    49

    Schedule J breakdown matched by us

    Base
    $145,992
    Bonus
    $5,200
    Other
    $11,619
    Deferred
    $51,614
    Nontaxable benefits
    $29,220
    Filer's total
    $243,645

  • Bill Brisk

    Manger of Operations

    Total calculated
    $228,801
    From this org
    $163,025
    From related orgs
    $0
    Other
    $65,776
    Hours/week
    49

    Schedule J breakdown matched by us

    Base
    $153,929
    Bonus
    $200
    Other
    $8,896
    Deferred
    $51,614
    Nontaxable benefits
    $14,161
    Filer's total
    $228,800

  • Jesse Sorenson

    System Coordinator

    Total calculated
    $222,572
    From this org
    $146,946
    From related orgs
    $0
    Other
    $75,626
    Hours/week
    44

    Schedule J breakdown matched by us

    Base
    $135,088
    Bonus
    $5,200
    Other
    $6,658
    Deferred
    $46,632
    Nontaxable benefits
    $28,993
    Filer's total
    $222,571

  • Jeff Barnes

    IT Specialist

    Total calculated
    $184,458
    From this org
    $117,055
    From related orgs
    $0
    Other
    $67,403
    Hours/week
    42

    Schedule J breakdown matched by us

    Base
    $111,199
    Bonus
    $200
    Other
    $5,656
    Deferred
    $38,762
    Nontaxable benefits
    $28,641
    Filer's total
    $184,458

  • Dean Whitney

    Crew Foreman

    Total calculated
    $173,981
    From this org
    $111,301
    From related orgs
    $0
    Other
    $62,680
    Hours/week
    43

    Schedule J breakdown matched by us

    Base
    $110,883
    Bonus
    $200
    Other
    $218
    Deferred
    $34,238
    Nontaxable benefits
    $28,442
    Filer's total
    $173,981

  • Michelle Fischer

    Dir of Communications Member Service

    Total calculated
    $169,582
    From this org
    $108,409
    From related orgs
    $0
    Other
    $61,173
    Hours/week
    43

    Schedule J breakdown matched by us

    Base
    $100,892
    Bonus
    $5,200
    Other
    $2,317
    Deferred
    $32,819
    Nontaxable benefits
    $28,355
    Filer's total
    $169,583

  • Rory Halverson

    Staking Tech

    Total calculated
    $168,736
    From this org
    $105,959
    From related orgs
    $0
    Other
    $62,777
    Hours/week
    42

    Schedule J breakdown matched by us

    Base
    $104,597
    Bonus
    $200
    Other
    $1,163
    Deferred
    $34,335
    Nontaxable benefits
    $28,442
    Filer's total
    $168,737

  • Don Andersen

    Board Secretary

    Total calculated
    $10,958
    From this org
    $10,958
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Thad Wasson

    Board Assistant Secretary

    Total calculated
    $10,290
    From this org
    $10,290
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Dennis Quivey

    Board President

    Total calculated
    $7,937
    From this org
    $7,937
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Jim Preston

    Board Vice President

    Total calculated
    $7,656
    From this org
    $7,656
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Gary Kluthe

    Board Treasurer

    Total calculated
    $7,094
    From this org
    $7,094
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Alan Bishop

    Director

    Total calculated
    $6,357
    From this org
    $6,357
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • David Lindblom

    Director

    Total calculated
    $4,250
    From this org
    $4,250
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

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

  • 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

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.

  • Black Hills Engineering Development

    N/A · Inactive · SD

Provenance

Return type
form_990
Tax year
2023
Filed
17 April 2024
IRS schema version
2023v5.0
Source object
202431089349300403

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