2024-04-27T05:29:34-04:00 2023-12-31 990 2023-01-01 460212565 H-D ELECTRIC COOPERATIVE INC % MATTHEW HOTZLER H-DE 6058742171 PO BOX 1007 CLEAR LAKE SD 572261007 MATTHEW A HOTZLER GENERAL MANAGER CEO 2024-04-27 2023 2023-04-26 12:10:37Z MATTHEW HOTZLER PO BOX 1007 CLEAR LAKE SD 572261007 15037126 false X www.h-delectric.coop X 1947 SD PROVIDE SAFE RELIABLE HIGH QUALITY ELECTRIC SERVICE AT THE BEST VALUE POSSIBLE TO OUR MEMBERS. 9 9 29 0 16101 15101 0 0 13788225 13810684 83124 163870 64298 104551 13935647 14079105 1500 1500 1692660 1507130 1932660 1820259 0 0 0 10308827 10750216 13935647 14079105 0 0 45699973 48931326 31373784 33521342 14326189 15409984 COMMITTED TO SAFELY ENHANCE THE QUALITY OF LIFE FOR OUR MEMBERS EMPLOYEES AND COMMUNITIES. false false 0 0 0 PROVIDED ELECTRIC SERVICE TO APPROXIMATELY 2,922 MEMBERS. CONNECTED 60 NEW SERVICES. CONSTRUCTED RETIRED AND MAINTAINED OVERHEAD & UNDERGROUND ELECTRIC DISTRIBUTIONS LINES. 0 0 0 0 0 0 0 0 0 0 false false false false false false false false false true true true false true true true false false false false false false false false false false false false true false false false false false false false false false false false false false false true 72 0 true 29 true true true false false false false 14312084 886869 false false false X 9 9 false false false false true true true true true false false true true true true true true true true false X X MATTHEW A HOTZLER 6058742171 PO BOX 1007 CLEAR LAKE SD 572261007 X MATTHEW HOTZLER GENERAL MANAGER 46.00 0.00 X 181994 0 84944 TROY KWASNIEWSKI OPERATIONS MANAGER 40.00 0.00 X 139379 0 72749 ANNETTE ABERLE FINANCE ADMIN MANAGER 40.00 0.00 X 121948 0 63179 THOMAS LUNDBERG MEMBER SERVICE MANAGER 46.00 0.00 X 111259 0 58843 KEVIN HOLIDA LEAD LINEMAN 43.00 0.00 X 109655 0 57469 JOSEPH RAML LEAD LINEMAN 43.00 0.00 X 105287 0 42597 ROGER CUTSHAW ENGINEER 40.00 0.00 X 101871 0 23493 CASPER NIEMANN DIRECTOR 7.00 0.00 X 12020 0 0 KEVIN DEBOER DIRECTOR 5.00 0.00 X 9370 0 0 STEVEN HANSEN DIRECTOR-TREASURER 4.00 0.00 X 8520 0 0 DALE WILLIAMS DIRECTOR 5.00 0.00 X 7745 0 0 TODD MORITZ DIRECTOR 4.00 0.00 X 7570 0 0 ROXANNE BASS DIRECTOR-SECRETARY 3.00 0.00 X 5820 0 0 CALVIN MUSCH DIRECTOR Mar-Dec 2023 3.00 0.00 X 5360 0 0 BERT ROGNESS DIRECTOR-PRESIDENT 3.00 0.00 X 5270 0 0 TERRY STROHFUS DIRECTOR-VIDE PRESIDENT 2.00 0.00 X 3720 0 0 LAURIE SEEFELDT DIRECTOR Jan-Feb 2023 1.00 0.00 X 810 0 0 937598 0 403274 7 false true false 0 0 0 0 0 0 0 0 SALE OF ELECTRICITY 221000 12994951 12994951 0 0 COOP CAPITAL CREDITS 221000 815733 815733 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 13810684 153535 0 0 153535 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 10335 0 0 0 10335 10335 0 0 10335 0 0 0 0 0 0 0 0 0 0 0 0 1062572 958021 104551 88450 16101 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 14079105 13899134 16101 163870 X 0 0 1500 0 0 0 1507130 0 552343 0 0 0 0 0 0 0 336663 0 0 0 359601 0 0 0 419790 0 0 0 151862 0 0 0 0 0 0 0 8786 0 0 0 24714 0 0 0 0 0 0 0 0 0 0 0 0 0 92922 0 0 0 16759 0 0 0 76657 0 0 0 111007 0 0 0 0 0 0 0 1870 0 0 0 222789 0 0 0 0 0 0 0 0 0 0 0 776728 0 0 0 61856 0 0 0 1412405 0 0 0 0 0 0 0 COST OF PURCHASE POWER 7411603 0 0 0 MISC. OPERATING EXPENSES 249860 0 0 0 SD GROSS kWh TAXES 194848 0 0 0 UNRELATED BUSINESS INCOME TAX PAID 1507 0 0 0 85905 0 0 0 14079105 0 0 0 0 0 0 0 27081 22576 1470373 1733054 0 0 1354042 1441475 0 0 0 0 0 0 1810851 2611733 594633 1102056 49434867 19253519 29414719 30181348 0 0 2520078 2797029 8508196 9042055 0 0 0 0 45699973 48931326 1381217 1208851 0 0 0 0 0 0 0 0 0 0 27122362 29149532 0 0 2870205 3162959 31373784 33521342 X 0 0 938540 1075895 13387649 14334089 14326189 15409984 45699973 48931326 X 0 0 0 0 0 1083795 X true X true X true false 59378 59378 4860971 646152 4214818 44514518 18607366 25907152 30181348 MARGIN STABILIZATION FUND 2571372 C DEFERRED COMPENSATION PLAN 140579 C RURAL ELECTRIC ECONOMIC DEVELOPMENT 46450 C OTHER INVESTMENTS-MEMBER LOANS 38628 C 2797029 INVESTMENTS IN ASSOCIATED ORGANIZATIONS 9042055 C 9042055 MARGIN STABILIZATION FUND 2571372 DEFERRED CREDITS-AMI METER ASSETS 285862 ACCUMULUATED PROVISIONS FOR PENSIONS 140579 CONSUMER DEPOSITS & PREPAYMENTS 130997 UNCLAIMED PROPERTY-CAPITAL CREDITS 34149 3162959 X 14075739 0 14075739 3366 3366 14079105 12568609 0 12568609 1510496 1510496 14079105 Part X, line 2 THE COOPERATIVE IS EXEMPT FROM INCOME TAXES UNDER SECTION 501c12 OF THE INTERNAL REVENUE CODE AND IS ANNUALLY REQUIRED TO FILE A RETURN OF ORGANIZATION EXEMPT INCOME FROM INCOME TAX FORM 990 WITH THE IRS. THE COOPERATIVE HAS EVALUATED WHETHER IT WAS NECESSARY TO RECOGNIZE ANY BENEFIT FROM UNCERTAIN TAX POSITIONS IN CURRENTLY OPEN TAX PERIODS AND DETERMINED THAT THERE ARE NO MATERIAL UNCERTAINTIES WITHIN ITS FILED TAX RETURNS. AS OF DECEMBER 31 2023 AND 2022 THE UNRECOGNIZED TAX BENEFIT ACCRUAL WAS ZERO. THE COOEPRATIVE WOULD RECOGNIZE FUTURE ACCRUED INTEREST AND PENALTIES RELATED TO UNRECOGNIZED TAX BENEFITS IN INCOME TAX EXPENSE IF INCURRED. Part XI, line 4b TOTAL REVENUE PER AUDITED FINANCIAL STATEMENTS INCLUDES IN NET NONOPERATING MARGINS-INTEREST INCOME $1,859 FOR INTEREST EXPENSE ON DEBT TO ASSOCIATED ORGANIZATIONS WHICH IS AN OFFSET TO INTEREST INCOME ON DEBT TO MEMBERS. ALSO NONOPERATING MARGINS-MERCHANDISING LESS COSTS AND EXPENSES INCLUDES FORM 990T UNRELATED BUSINESS TAX PAID OF $1,507. BOTH OF THESE EXPENSES ARE REPORTED ON THE FORM 990 PART IX LINE 20 AND 24d RESPECTIVELY. Part XII, line 4b THE COOPERATIVE IS REPORTING INTEREST EXPENSE ON DEBT TO ASSOCIATED ORGANIZATIONS OF $1,859 AND FORM 990-T UNRELATED BUSINESS TAX PAID OF $1,507 ON FORM 990 PART IX LINE 20 AND 24d RESPECTIVELY. AUDITED FINANCIAL STATEMENTS INCLUDE THESE AMOUNTS IN THE NET NONOPERATING MARGINS-INTEREST AND NONOPERATING MARGINS-MERCHANDISING LESS COSTS AND EXPENSES. THE COOPERATIVE IS REPORTING PATRONAGE CAPITAL ALLOCATED TO MEMBERS OF 2023 NET MARGINS $1,507,130 ON FORM 990 PART IX LINE 4. AUDITED FINANCIAL STATEMENTS CONFORM TO GENERALLY ACCEPTED ACCOUNTING PRINCIPALS GAAP. GAAP DOES NOT RECOGNIZE PATRONAGE CAPITAL OR MARGINS ALLOCATED TO MEMBERS AS AN EXPENSE IN RELATION TO THE STATEMENT OF FUNCTIONAL EXPENSES. X true true X X false false false MATTHEW HOTZLER GENERAL MANAGER 171893 0 371 0 9730 0 57590 0 27354 0 266938 0 0 0 TROY KWASNIEWSKI OPERATIONS MANAGER 125642 0 371 0 13366 0 45395 0 27354 0 212128 0 0 0 ANNETTE ABERLE FINANCE & ADMIN. MANAGER 115968 0 371 0 5609 0 35825 0 27354 0 185127 0 0 0 THOMAS LUNDBERG MEMBER SERVICE MANAGER 105448 0 371 0 5440 0 31489 0 27354 0 170102 0 0 0 KEVIN HOLIDA LEAD LINEMAN 101392 0 371 0 7892 0 30115 0 27354 0 167124 0 0 0 Part I Line 1a | Name :, Title:, Item Selected:, Description:| ALL EMPLOYEES, THE COOPERATIVE HAS A POLICY THAT PROVIDES A WELLNESS BENEFIT WHICH OFFERS A COST SHARE BENEFIT OF HEALTH CLUB FEES. THIS BENEFIT IS OFFERED TO ALL EMPLOYEES. FEES ARE PAID DIRECTLY TO THE HEALTH CLUB OR IF PAID DIRECTLY TO AN EMPLOYEE THE EMPLOYEE MUST PROVIDE A RECEIPT WITH THEIR NAME ON IT.| Part II Line 1 | Name :, Title:, Item Selected:, Description:| ALL EMPLOYEES LISTED, COLUMN C: INCLUDED IN RETIREMENT AND DEFERRED COMPENSATION IS THE ESTIMATED CURRENT YEAR INCREASE IN THE ACTUARIAL VALUE OF THE DEFINED BENEFIT PLAN AS CALCULATED BY THE PLAN ADMINISTRATOR. THIS DOES NOT REPRESENT CURRENT YEAR CONTRIBUTIONS TO THE PLAN.| Part II Line 1 | Name :, Title:, Item Selected:, Description:| ALL EMPLOYEES LISTED, COLUMN Biii: OTHER REPORTABLE COMPENSATION: H-D ELECTRIC HAS AN ALTERNATIVE PAID TIME OFF PLAN THAT ALLOWS EMPLOYEES WHO ARE PART OF THIS PLAN TO CHOOSE TO BE PAID UNUSED HOURS AT THEIR REGULAR PAY RATE AT YEAR END. H-D ELECTRIC ALSO HAS TWO DIFFERENT PTO PLANS. EMPLOYEES IN PTO PLAN 2 HAVE THE OPTION IN DECEMBER TO TURN IN UP TO 80 HOURS AND PUT THE EQUIVALENT AMOUNT INTO THEIR 401k PLAN.| Part VI, Line 6 H-D ELECTRIC IS A PRIVATE NON-PROFIT ELECTRIC UTILITY OWNED BY THE MEMBERS IT SERVES. Part VI, Line 7a H-D ELECTRIC HAS A GOVERNING BODY OF 9 DIRECTOR DISTRICTS WITH 3-YEAR TERMS. EACH MEMBERSHIP IS ALLOWED ONE VOTE FOR EACH DIRECTOR DISTRICT. Part VI, Line 7b THE COOPERATIVE'S BYLAWS MAY BE ALTERED AMENDED OR REPEALED BY THE MEMBERS AT ANY REGULAR ANNUAL OR SPECIAL MEETING. Part VI, Line 11b THE FORM 990 IS REVIEWED BY ALL DIRECTORS PRESENT AT THE REGULAR SCHEDULED BOARD MEETING PRIOR TO FILING. Part VI, Line 12c EACH DIRECTOR AND MANAGEMENT STAFF COMPLETES A CONFLICT OF INTEREST FORM ANNUALLY & POLICIES ARE REVIEWED BY LEGAL COUNSEL. Part VI, Line 15 H-D ELECTRIC USES THE NRECA ANNUAL BENEFITS SURVEY AS WELL AS THE SDREA ANNUAL SALARY & WAGE SURVEY IN DETERMINING COMPENSATION. THE BOARD OF DIRECTORS APPROVES COMPENSATION ANNUALLY. Part VI, Line 19 H-D ELECTRIC'S GOVERNING DOCUMENTS & POLICIES ARE AVAILABLE UPON REQUEST. FINANCIAL STATEMENS ARE POSTED IN THE COOP's MAGAZINE ANNUALLY PRIOR TO THE ANNUAL MEETING OF MEMBERS. ALL MEMBERS RECEIVE THE MONTHLY ISSUE OF THE COOP CONNECTIONS MAGAZINE. Part XI, Line 9 | Description:, Explanation:, Amount:| 2023 NET MARGINS = $1,507,130 - LESS 2023 CAPITAL CREDIT RETIREMENTS $447,328 + PLUS 2023 CAPITAL CREDITS RETAINED DONATED $23,993 = NET CHANGE OF $1,083,795, OTHER CHANGES IS CALCULATED AS FOLLOWS:, $1083795| Part VII General | Explanation:| SECTION A 1a COLUMN F: OTHER COMPENSATION INCLUDES THE ESTIMATED CURRENT YEAR INCREASE IN THE ACTUARIAL VALUE OF THE DEFINED BENEFIT PLAN AS CALCULATED BY THE PLAN ADMINISTRATOR. THIS DOES NOT REPRESENT CURRENT YEAR CONTRIBUTIONS TO THE PLAN. Part IX Line 4 | Explanation:| THE COOPERATIVE IS REPORTING PATRONAGE CAPITAL ALLOCATION TO OUR MEMBERS OF 2023 NET MARGINS. THIS IS DIFFERENT FROM THE COOPERATIVE'S BOOK REPORTING AS THE COOPERATIVE'S FINANCIAL STATEMENTS CONFORM TO GENERALLY ACCEPTED ACCOUNTING PRINCIPALS GAAP. GAAP DOES NOT RECOGNIZE PATRONAGE CAPITAL OR MARGINS ALLOCATED TO MEMBERS AS AN EXPENSE IN RELATION TO THE STATEMENT OF FUNCTIONAL EXPENSES. THE COOPERATIVE'S BYLAWS ALLOW FOR NON-OPERATING MARGINS TO BE ALLOCATED TO MEMBERS OR USED BY THE COOERATIVE AS PERMANENT NON-ALLOCATED CAPITAL DETERMINED ANNUALLY.