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Nonprofiteer
← DEAF SMITH ELECTRIC COOPERATIVE INC

Form 990 for tax year 2024

Filed by DEAF SMITH ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$58,835,798
Total expenses
$58,835,798
Contributions and grants received
$0
Grants paid
$7,696
Program service revenue
$58,509,599
Investment income
$326,199
Other revenue
$0
Total assets, end of year
$134,558,096
Total liabilities, end of year
$16,755,568
Net assets or fund balances, end of year
$117,802,528
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: SALES OF ELECTRICITY

    total $55,321,394 · related or exempt $55,321,394

  • 2b · Program service revenue: PATRONAGE DIVIDENDS

    total $2,962,344 · related or exempt $2,962,344

  • 2c · Program service revenue: SERVICE FEES

    total $187,862 · related or exempt $187,862

  • 2d · Program service revenue: OTHER PROGRAM REVENUE

    total $37,999 · related or exempt $37,999

  • 3 · Investment income

    total $297,464 · excluded $297,464

  • 7a · Gross sales of assets other than inventory

    other assets $28,735

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

    other assets $0

  • 7c · Gain or loss

    other assets $28,735

  • 7d · Net gain or loss

    total $28,735 · related or exempt $28,735

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $7,696

  • 4 · Benefits paid to or for members

    total $7,027,951

  • 5 · Compensation of officers, directors and key employees

    total $948,487

  • 7 · Other salaries and wages

    total $2,862,399

  • 8 · Pension plan contributions

    total $399,745

  • 9 · Other employee benefits

    total $592,926

  • 10 · Payroll taxes

    total $260,323

  • 20 · Interest

    total $277,253

  • 22 · Depreciation, depletion and amortization

    total $4,135,689

  • 24a · Other expenses: PURCHASED POWER

    total $38,522,075

  • 24b · Other expenses: DISTRIBUTION EXPENSE

    total $2,072,134

  • 24c · Other expenses: ADMIN & GENERAL EXPENSE

    total $1,008,589

  • 24d · Other expenses: OPERATING TAXES

    total $511,859

  • 24e · All other expenses

    total $208,672

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $398,232 · end of year $751,922

  • 2 · Savings and temporary cash investments

    beginning of year $4,000,000 · end of year $8,000,000

  • 4 · Accounts receivable

    beginning of year $2,914,862 · end of year $2,213,217

  • 8 · Inventories for sale or use

    beginning of year $1,541,956 · end of year $1,440,491

  • 9 · Prepaid expenses and deferred charges

    beginning of year $7,689,579 · end of year $246,779

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

    $115,402,468

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

    $68,206,091

  • 10c · Land, buildings and equipment, net

    beginning of year $45,813,069 · end of year $47,196,377

  • 12 · Investments: other securities

    beginning of year $1,128 · end of year $1,128

  • 13 · Investments: program-related

    beginning of year $73,741,818 · end of year $74,450,164

  • 15 · Other assets

    beginning of year $353,632 · end of year $258,018

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,322,787 · end of year $2,896,213

  • 21 · Escrow or custodial account liability

    beginning of year $48,889 · end of year $63,716

  • 23 · Secured mortgages and notes payable

    beginning of year $7,575,308 · end of year $5,166,819

  • 25 · Other liabilities

    beginning of year $7,087,976 · end of year $8,628,820

  • 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 $118,419,316 · end of year $117,802,528

Mission and programs · 2024

Mission

TO PROVIDE RELIABLE ELECTRIC ENERGY AND SUPPORTING SERVICES TO OUR MEMBER/OWNERS AND TO ENHANCE SAFETY AND QUALITY OF LIFE FOR MEMBERS AND EMPLOYEES.

Activities or mission (Part I)

TO PROVIDE ELECTRICITY TO RURAL AREAS AT COST ON A COOPERATIVE BASIS.

  • SALE OF ELECTRIC ENERGY TO MEMBERS ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL. THERE WERE 15,389 CONNECTED METERS AT YEAR END.

As filed on the 2024 return.

Listed in Part VII

  • Michael Carlson

    DIRECTOR

    Total calculated
    $28,054
    From this org
    $28,054
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.5

  • Danny Hand

    SECRETARY/TREASURER

    Total calculated
    $31,019
    From this org
    $31,019
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.5

  • Melvin Betzen

    DIRECTOR

    Total calculated
    $33,721
    From this org
    $33,721
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.5

  • Vick Christian

    DIRECTOR

    Total calculated
    $31,298
    From this org
    $31,298
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.5

  • Jim Hoelting

    CHAIRMAN

    Total calculated
    $34,898
    From this org
    $34,898
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.5

  • Steve Olson

    VICE CHAIRMAN

    Total calculated
    $25,894
    From this org
    $25,894
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.5

  • Robert Boozer

    DIRECTOR

    Total calculated
    $28,584
    From this org
    $28,584
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.8

  • Timothy Burkhalter

    PRESIDENT/GENERAL MANAGER

    Total calculated
    $300,852
    From this org
    $224,993
    From related orgs
    $0
    Other
    $75,859
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $211,333
    Bonus
    $2,518
    Other
    $11,142
    Deferred
    $50,600
    Nontaxable benefits
    $25,259
    Filer's total
    $300,852

  • Juanita Alejandre

    ACCOUNTING MANAGER

    Total calculated
    $236,836
    From this org
    $171,845
    From related orgs
    $0
    Other
    $64,991
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $155,960
    Bonus
    $1,914
    Other
    $13,971
    Deferred
    $52,802
    Nontaxable benefits
    $12,189
    Filer's total
    $236,836

  • Elio Hernandez

    MANAGER OF ENGINEERING

    Total calculated
    $197,331
    From this org
    $164,445
    From related orgs
    $0
    Other
    $32,886
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $150,159
    Bonus
    $1,650
    Other
    $12,636
    Deferred
    $19,648
    Nontaxable benefits
    $13,238
    Filer's total
    $197,331

  • William Steffens

    JOURNEYMAN/SERVICEMAN

    Total calculated
    $194,699
    From this org
    $147,875
    From related orgs
    $0
    Other
    $46,824
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $139,623
    Bonus
    $1,361
    Other
    $6,891
    Deferred
    $22,318
    Nontaxable benefits
    $24,506
    Filer's total
    $194,699

  • Johnny Beltran

    LINE SUPERINTENDENT/OPS MANAGER

    Total calculated
    $199,163
    From this org
    $144,084
    From related orgs
    $0
    Other
    $55,079
    Hours/week
    44

    Schedule J breakdown matched by us

    Base
    $129,884
    Bonus
    $1,704
    Other
    $12,496
    Deferred
    $30,447
    Nontaxable benefits
    $24,632
    Filer's total
    $199,163

  • Edward Fuentes

    MECHANIC/FLEET MANAGER

    Total calculated
    $173,634
    From this org
    $134,493
    From related orgs
    $0
    Other
    $39,141
    Hours/week
    48

    Schedule J breakdown matched by us

    Base
    $124,148
    Bonus
    $1,416
    Other
    $8,929
    Deferred
    $26,919
    Nontaxable benefits
    $12,222
    Filer's total
    $173,634

  • Joseph Murray

    JOURNEYMAN LINEMAN

    Total calculated
    $168,241
    From this org
    $131,445
    From related orgs
    $0
    Other
    $36,796
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $126,134
    Bonus
    $1,165
    Other
    $4,146
    Deferred
    $14,042
    Nontaxable benefits
    $22,754
    Filer's total
    $168,241

  • Marcos Ramirez

    FOREMAN

    Total calculated
    $172,427
    From this org
    $131,329
    From related orgs
    $0
    Other
    $41,098
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $124,235
    Bonus
    $1,394
    Other
    $5,700
    Deferred
    $17,964
    Nontaxable benefits
    $23,134
    Filer's total
    $172,427

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
  • 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

The filer's explanations (Part III)

PART I, LINE 1A
TRAVEL FOR COMPANIONS - THE COOPERATIVE WILL PAY FOR THE TRAVEL EXPENSES OF EACH DIRECTOR'S SPOUSE TO ACCOMPANY THEM DURING A BUSINESS TRIP FOR THE BENEFIT OF THE COOPERATIVE. THREE INDIVIDUALS REPORTED ON FORM 990, PART VII (BETZEN, CHRISTIAN, AND HOELTING) RECEIVED THIS BENEFIT DURING THE YEAR.
PART II, COLUMN C:
INCLUDED IN THIS AMOUNT IS THE INCREASE IN ACTUARIAL VALUE OF BENEFITS PAYABLE UNDER A DEFINED BENEFIT RETIREMENT PLAN. THE CONTRIBUTION RATE FOR PARTICIPANTS IN THE NRECA R&S DEFINED BENEFIT PENSION PLAN ARE THE SAME FOR ALL INDIVIDUALS IN THIS MULTI-EMPLOYER PLAN. THE CHANGE IN ACTUARIAL VALUE FOR EACH PARTICIPANT, HOWEVER, VARIES WITH AGE. IN OTHER WORDS, THE OLDER A PLAN PARTICIPANT IS, THE GREATER THE INCREASE IN THAT INDIVIDUAL'S CHANGE IN ACTUARIAL VALUE, ALL OTHER THINGS BEING EQUAL. BECAUSE THIS RELATES TO A MULTI-EMPLOYER PLAN, CASH CONTRIBUTIONS TO THE PLAN IN LIEU OF THE ACTUARIAL INCREASE ARE EXPENSED IN THE FINANCIAL STATEMENTS. TIMOTHY BURKHALTER: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 31,458 EMPLOYER CONTRIBUTION TO 401(K) PLAN 19,142 TOTAL REPORTED IN COLUMN C $ 50,600 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (31,458) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 20,328 EXPENSE TO THE COOPERATIVE $ 39,470 JANIE ALEJANDRE: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 38,877 EMPLOYER CONTRIBUTION TO 401(K) PLAN 13,925 TOTAL REPORTED IN COLUMN C $ 52,802 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (38,877) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 14,828 EXPENSE TO THE COOPERATIVE $ 28,753 JOHNNY BELTRAN: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 18,587 EMPLOYER CONTRIBUTION TO 401(K) PLAN 11,860 TOTAL REPORTED IN COLUMN C $ 30,447 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (18,587) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 12,622 EXPENSE TO THE COOPERATIVE $ 24,482 ELIO HERNANDEZ: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 6,321 EMPLOYER CONTRIBUTION TO 401(K) PLAN 13,327 TOTAL REPORTED IN COLUMN C $ 19,648 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (6,321) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 14,191 EXPENSE TO THE COOPERATIVE $ 27,518 WILLIAM STEFFENS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 13,230 EMPLOYER CONTRIBUTION TO 401(K) PLAN 9,088 TOTAL REPORTED IN COLUMN C $ 22,318 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (13,230) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 9,681 EXPENSE TO THE COOPERATIVE $ 18,769 EDWARD FUENTES: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 17,467 EMPLOYER CONTRIBUTION TO 401(K) PLAN 9,452 TOTAL REPORTED IN COLUMN C $ 26,919 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (17,467) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 6,558 EXPENSE TO THE COOPERATIVE $ 16,010 MARCOS RAMIREZ: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 7,782 EMPLOYER CONTRIBUTION TO 401(K) PLAN 10,182 TOTAL REPORTED IN COLUMN C $ 17,964 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (7,782) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 10,842 EXPENSE TO THE COOPERATIVE $ 21,024 JOSEPH MURRAY ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 4,950 EMPLOYER CONTRIBUTION TO 401(K) PLAN 9,092 TOTAL REPORTED IN COLUMN C $ 14,042 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (4,950) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 9,681 EXPENSE TO THE COOPERATIVE $ 18,773

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
2024
Filed
8 November 2025
IRS schema version
2024v5.2
Source object
202543159349301639

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