2024-07-10T17:28:24-05:00 2023-12-31 450250958 EIDE BAILLY LLP 345 N REID PL STE 400 SIOUX FALLS SD 571037034 990 2023-01-01 460120430 CLAY-UNION ELECTRIC CORPORATION CLAY 6056242673 BOX 317 VERMILLION SD 57069 CHRISTOPHER LARSON GENERAL MANAGER 6056242673 2024-07-08 1 CHRISTOPHER LARSON 999009999 1 LAURIE HANSON CPA P00851848 6053391999 2024-07-08 2 AAL1 IAL1 2023 2023-04-26 12:10:37Z CHRISTOPHER LARSON BOX 317 VERMILLION SD 57069 10047943 0 X WWW.CLAYUNIONELECTRIC.COOP X 1935 SD TO PROVIDE ELECTRICITY TO RURAL COMMUNITIES 5 5 18 0 0 0 0 0 9417091 9645822 98673 191767 27577 3415 9543341 9841004 6690 7051 926262 756603 1837843 1803207 0 0 0 6772546 7274143 9543341 9841004 0 0 40338882 44634187 22895871 26873506 17443011 17760681 TO PROVIDE SAFE, RELIABLE AND AFFORDABLE ELECTRIC SERVICE FOR OUR MEMBERS NOW AND INTO THE FUTURE. 0 0 PROVIDED ELECTRIC SERVICE TO APPROXIMATELY 2,867 MEMBERS. RETIRED 12.18 MILES OF OVERHEAD LINE AND UNDERGROUND LINE. ADDED 11.64 MILES OF UNDERGROUND LINE. 0 0 0 0 0 0 0 0 0 1 0 1 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 11 0 1 18 1 0 0 0 0 0 9638633 403415 0 0 0 X 5 5 0 0 0 0 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 0 X CHRISTOPHER LARSON 6056242673 BOX 317 VERMILLION SD 57069 X CHRIS KINNEY VICE PRESIDENT 3.00 X X 6950 0 0 MICHAEL SLATTERY TREASURER 3.00 X X 5346 0 0 TOM LARSEN PRESIDENT 3.00 X X 5987 0 0 GARY GLOVER ASSISTANT SECRETARY 3.00 X X 4680 0 0 JAMES RYKEN SECRETARY 3.00 X X 5060 0 0 CHRISTOPHER LARSON GENERAL MANAGER 40.00 X 138023 0 108767 MIKE KRUSE OPERATIONS MANAGER 40.00 X 107515 0 39078 BETH BOTTOLFSON FINANCE MANAGER 40.00 X 105082 0 38579 378643 0 186424 3 0 1 0 PUETZ DESIGN PO BOX 968 MITCHELL SD 57301 ARCHITECTURE & CONSTRUCTION MANAGEMENT 5910276 1 SALE OF POWER 221000 9111061 9111061 CAPITAL CREDITS 221000 534761 534761 9645822 186731 186731 5036 0 5036 5036 5036 210354 206939 3415 3415 9841004 9649237 0 191767 7051 756603 382382 1059360 261640 99825 685530 1059237 COST OF POWER 5090454 ADMIN & GENERAL 856730 DISTRIBUTION-OPERATIONS 672017 DISTRIBUTION-MAINTENANC 209520 -1299345 9841004 3054695 171842 845059 813605 845471 1245060 342268 332142 45753528 12048038 27271292 33705490 1361055 1442470 6597793 6917993 21249 5585 40338882 44634187 2198397 1590025 19011412 23644355 1686062 1639126 22895871 26873506 X 0 0 0 0 17443011 17760681 17443011 17760681 40338882 44634187 X 0 317670 X 0 1 X 1 0 247797 247797 7278652 7278652 38081613 12048038 26033575 145466 145466 33705490 EAST RIVER ELECTRIC POWER COOPERATIVE, INC. 6108299 C FEDERATED RURAL ELECTRIC INSURANCE CORP 85665 C NATIONAL RURAL UTILITIES COOPERATIVE FINANCE CORPORATION 526223 C NATIONAL RURAL TELECOMMUNICATIONS COOPERATIVE 6168 C COBANK 128764 C CRC 2015 C RURAL ELECTRIC ECONOMIC DEVELOPMENT, INC. 40000 C MEMBERSHIPS 8625 C RURAL ELECTRIC SUPPLY COOPERATIVE 12234 C 6917993 CUSTOMER DEPOSITS 170550 DEFERRED CREDITS 1316003 POST RETIREMENT BENEFIT OBLIGATIONS 152573 1639126 X 9841004 0 9841004 0 9841004 9084401 0 9084401 756603 756603 9841004 PART X, LINE 2: THE CORPORATION BELIEVES IT HAS APPROPRIATE SUPPORT FOR ANY TAX POSITIONS TAKEN AFFECTING ITS ANNUAL FILING REQUIREMENTS, AND AS SUCH, DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS THAT ARE MATERIAL TO THE FINANCIAL STATEMENTS. THE CORPORATION WOULD RECOGNIZE FUTURE ACCRUED INTEREST AND PENALTIES RELATED TO UNRECOGNIZED TAX BENEFITS IN INCOME TAX EXPENSE IF SUCH INTEREST AND PENALTIES ARE INCURRED. PART XII, LINE 4B - OTHER ADJUSTMENTS: ALLOCATION OF 2023 MARGINS TO MEMBERS IN 2024 756,603. X X 0 0 0 CHRISTOPHER LARSON GENERAL MANAGER 138023 0 0 0 0 0 85332 0 26423 0 249778 0 0 0 MIKE KRUSE OPERATIONS MANAGER 107515 0 0 0 0 0 17109 0 25737 0 150361 0 0 0 EXPLANATION OF AMOUNT REPORTED IN PART II, COLUMN (C). INCLUDED IN THE AMOUNT REPORTED IN COLUMN C IS $80,996 FOR THE CHANGE IN ACTUARIAL VALUE OF THE DEFINED BENEFIT PLAN FOR CHRISTOPHER LARSON. ACTUAL COOPERATIVE CONTRIBUTIONS TO THE PLAN WERE $35,215. FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION HAS MEMBERS. EACH MEMBER PAYS $5 TO BECOME A MEMBER OF THE COOPERATIVE. FORM 990, PART VI, SECTION A, LINE 7A EACH MEMBER HAS ONE VOTE. FORM 990, PART VI, SECTION A, LINE 7B EACH MEMBER HAS ONE VOTE. BYLAW CHANGES REQUIRE THE MEMBERSHIP TO VOTE. FORM 990, PART VI, SECTION A, LINE 8B THE ORGANIZATION HAS NO COMMITTEES WITH THE AUTHORITY TO ACT ON THE BEHALF OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B THE GENERAL MANAGER AND FINANCE OFFICER REVIEW THE 990 IN DETAIL. AFTER THEIR REVIEW, THE 990 IS PROVIDED TO EACH BOARD MEMBER. THE GENERAL MANAGER AND/OR FINANCE OFFICER PRESENT THE 990 TO THE BOARD OF DIRECTORS AT THE MEETING HELD PRIOR TO ITS FILING IF SO REQUESTED BY ANY BOARD MEMBER. WHETHER PRESENTED IN A BOARD MEETING OR NOT, THE 990 IS NOT FILED UNTIL EACH BOARD MEMBER HAS BEEN GIVEN A COPY OF IT AND GIVEN AMPLE TIME TO REVIEW IT. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY COVERS MANAGEMENT POSITIONS AND DIRECTORS. THE LEVEL OF DETERMINATION OF WHETHER A CONFLICT EXISTS WILL BE MADE AT THE MANAGEMENT AND/OR BOARD LEVEL. ACTUAL CONFLICTS WILL BE REVIEWED AT THE SAME LEVEL. ANY RESTRICTIONS WILL BE MADE BY EITHER ELIMINATING THE CONFLICT, RESIGNING, OR BEING REMOVED FROM THE ORGANIZATION. FORM 990, PART VI, SECTION B, LINE 15A COMPENSATION IS DETERMINED BY STATEWIDE SURVEYS AND IS COMPARABLE TO NEIGHBORING COOPERATIVES. THERE IS A WAGE AND SALARY PLAN FOR ALL EMPLOYEES. THE COMPENSATION PROCESS IS UNDERTAKEN ANNUALLY. FORM 990, PART VI, SECTION C, LINE 19 AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART VII, COLUMN F, OTHER COMPENSATION: THE GENERAL MANAGER ACTS AS THE TOP MANAGEMENT AND TOP FINANCIAL OFFICER OF THE COOPERATIVE. FORM 990, PART XI, LINE 9: RETIREMENT OF CAPITAL CREDITS -438,747. MEMBERSHIPS - NET CHANGE -186. ALLOCATION OF 2023 MARGINS TO MEMBERS IN 2024 756,603. FORM 990, PART IX, LINE 24E STATEMENT OF FUNCTIONAL EXPENSES: THE LABOR, PENSION AND PAYROLL TAXES REPORTED ON LINES 5-10 ARE INCLUDED IN DISTRIBUTION EXPENSE, ADMINISTRATIVE & GENERAL EXPENSE AND CUSTOMER EXPENSE. THEREFORE, LABOR, PENSION AND PAYROLL TAXES ARE SHOWN AS A REDUCTION TO OTHER EXPENSES ON LINE 24E. FORM 990, PART VII, COLUMN F, OTHER COMPENSATION: INCLUDED IN OTHER COMPENSATION IS THE ESTIMATED CURRENT YEAR INCREASE OR DECREASE IN THE ACTUARIAL VALUE OF THE DEFINED BENEFIT PLAN FOR THE GENERAL MANAGER. THE CURRENT YEAR INCREASE OR DECREASE DOES NOT REPRESENT CURRENT YEAR CONTRIBUTIONS TO THE PLAN. RATHER, IT IS AN ESTIMATE OF THE INCREASE OR DECREASE IN THE ACTUARIAL VALUE OF THE PLAN AS CALCULATED BY THE PLAN ADMINISTRATOR. FORM 990, PART IX, LINE 4, BENEFITS PAID TO OR FOR MEMBERS: THE COOPERATIVE HAS INTERPRETED THE INSTRUCTIONS TO PART IX, LINE 4, TO MEAN PATRONAGE CAPITAL ALLOCATED FOR THE YEAR, RATHER THAN PATRONAGE CAPITAL RETIRED. THIS IS CONSISTENT WITH THE BY-LAWS OF THE COOPERATIVE.