2024-07-19T13:59:42-05:00 2023-12-31 450250958 EIDE BAILLY LLP 345 N REID PL STE 400 SIOUX FALLS SD 571037034 990 2023-01-01 460231254 SOUTH DAKOTA RURAL ELECTRIC ASSOCIATION SOUT 6052248823 PO BOX 1138 PIERRE SD 57501 STEVE BARNETT GENERAL MANAGER 6052248823 2024-07-19 1 STEVE BARNETT 999009999 1 LAURIE HANSON CPA P00851848 6053391999 2024-07-19 2 AAL1 IAL1 2023 2023-04-26 12:10:37Z STEVE BARNETT PO BOX 1138 PIERRE SD 57501 3424925 0 X SDREA.COOP X 1942 SD TO SERVE THE RURAL ELECTRIC COOPERATIVES IN SOUTH DAKOTA, TO PROMOTE THE EFFECTIVE DEVELOPMENT OF RURAL ELECTRIFICATION IN SOUTH DAKOTA ON A COOPERATIVE, NON-PROFIT BASIS. 30 30 12 0 0 0 0 0 2963021 3339430 17955 85495 0 0 2980976 3424925 0 0 0 0 1448577 1351786 0 0 0 1555015 1673049 3003592 3024835 -22616 400090 1810935 2140015 474611 403601 1336324 1736414 TO SERVE THE RURAL ELECTRIC COOPERATIVES IN SOUTH DAKOTA, TO PROMOTE THE EFFECTIVE DEVELOPMENT OF RURAL ELECTRIFICATION IN SOUTH DAKOTA ON A COOPERATIVE, NON-PROFIT BASIS. 0 0 TRAINING AND EDUCATION FOR COOPERATIVE MEMBERS, DIRECTORS AND EMPLOYEES. YOUTH TOUR - PARTICIPATING COOPERATIVES AND HIGH SCHOOL STUDENTS FROM THOSE COOPERATIVES GO TO WASHINGTON DC TO LEARN ABOUT UNITED STATES HISTORY, MEET SENATORS AND REPRESENTATIVES, AND TAKE PART IN DEBATE. THEY LEARN ABOUT POLITICAL PROCESSES AND COOPERATIVE ELECTRICITY AND TEACH PRINCIPALS FOR FUTURE MEMBERS OF THE COOPERATIVES. TOOK A YOUTH EXCURSION TO NORTH DAKOTA BASIN TO LEARN ABOUT ELECTRICITY WITH FELLOW HIGH SCHOOL STUDENTS FROM DIFFERENT COOPERATIVES. TOUCHSTONE ENERGY PROMOTIONS - TO PROMOTE THE COOPERATIVE PRINCIPALS TO COOPERATIVE MEMBERS AT FAIRS AND EVENTS AROUND SOUTH DAKOTA. 0 0 0 1 0 0 0 0 0 1 0 0 0 0 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 59 0 1 12 1 0 0 0 0 0 0 0 0 X 30 30 0 0 0 0 1 1 0 1 0 0 0 1 1 1 1 0 0 1 0 0 X TERRI IVERSON 6052248823 PO BOX 1138 PIERRE SD 57501 X STEVEN HANSEN DIRECTOR 1.00 X 4725 0 0 DON HEEREN PRESIDENT 1.00 X X 5017 0 0 JIM PRESTON DIRECTOR 1.00 X 3500 0 0 STAN ANDERS DIRECTOR 1.00 X 3325 0 0 WILLIAM DAILEY DIRECTOR 1.00 X 3325 0 0 NOLAN WIPF DIRECTOR 1.00 X 2800 0 0 RICHARD ABRAHAMSON SECRETARY 1.00 X X 4900 0 0 WHITNEY MEEK TREASURER 1.00 X X 4816 0 0 JERRY HAMMERQUIST DIRECTOR (LEFT 9/2023) 1.00 X 2525 0 0 TOM LARSEN DIRECTOR 1.00 X 4220 0 0 JOEL BAIER DIRECTOR 1.00 X 3325 0 0 KERRY MCLELLAN DIRECTOR (STARTED 11/2023) 1.00 X 1575 0 0 SAM SCHUMAN DIRECTOR 1.00 X 3325 0 0 ROBERT SEYER DIRECTOR (LEFT 4/2023) 1.00 X 1125 0 0 ROSS SPERRY DIRECTOR 1.00 X 5250 0 0 DAVID STERNHAGEN DIRECTOR 1.00 X 3325 0 0 RODNEY TOBIN DIRECTOR 1.00 X 4375 0 0 BILL TOSTENSON DIRECTOR 1.00 X 4900 0 0 DONOVAN YOUNG MAN DIRECTOR 1.00 X 2450 0 0 DONITA LOUDNER DIRECTOR 1.00 X 3150 0 0 DANIEL THYEN DIRECTOR 1.00 X 3325 0 0 KERMIT PEARSON DIRECTOR 1.00 X 3150 0 0 JOHN LONG VICE PRESIDENT 1.00 X X 3500 0 0 THOMAS BRUNNER DIRECTOR 1.00 X 3325 0 0 TOM THORPE DIRECTOR 1.00 X 3325 0 0 DARREN STRASSER DIRECTOR 1.00 X 3325 0 0 DAVE DANIEL DIRECTOR 1.00 X 3325 0 0 STEVE PETERSON DIRECTOR (LEFT 9/2023) 1.00 X 1750 0 0 SHAD RIGGLE DIRECTOR 1.00 X 3150 0 0 ROBERT SHAFFER DIRECTOR 1.00 X 2625 0 0 RODNEY MOON DIRECTOR (STARTED 4/2023) 1.00 X 2100 0 0 CLINT CLARK DIRECTOR 1.00 X 2450 0 0 NICHOLAS NEMEC DIRECTOR (STARTED 9/2023) 1.00 X 1400 0 0 STEVE BARNETT GENERAL MANAGER 42.80 X 147460 0 24039 MARK PATTERSON MGR. OF LOSS CONTROL SVCS. 46.94 X 120504 0 39879 376667 0 63918 2 0 1 1 RITER ROGERS LLP PO BOX 280 PIERRE SD 57501 LEGAL SERVICES 104704 1 MEMBERSHIP DUES 900099 1704823 1704823 CO-OP CONNECTIONS 900099 1043660 1043660 MEMBER SERVICES/TRAINI 541900 493145 493145 LOSS CONTROL 541900 83457 83457 14345 14345 3339430 61495 61495 24000 0 24000 24000 24000 3424925 3339430 0 85495 448602 507055 119533 215675 60921 104739 17603 852183 33429 70846 142752 73151 34912 SELF-SUPPORTING AND CHO 293785 DUES & SUBSCRIPTIONS 20216 LEGISLATIVE 18102 VALUE ADDED AG CENTER 5033 6298 3024835 1168436 1553053 75611 79294 106413 43779 1542560 1103172 436934 439388 23541 24501 1810935 2140015 100076 78050 374535 325551 474611 403601 X 1336324 1736414 1336324 1736414 1810935 2140015 400090 0 X 0 1 X 1 0 1 0 0 126241 126241 535614 378144 157470 880705 725028 155677 439388 X 3424925 0 3424925 0 3424925 3024835 0 3024835 0 3024835 PART X, LINE 2: THE ASSOCIATION 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 ASSOCIATION WOULD RECOGNIZE FUTURE ACCRUED INTEREST AND PENALTIES RELATED TO UNRECOGNIZED TAX BENEFITS AND LIABILITIES IN INCOME TAX EXPENSE IF SUCH INTEREST AND PENALTIES ARE INCURRED. X X 0 0 0 STEVE BARNETT GENERAL MANAGER 146200 0 0 0 1260 0 0 0 26549 0 174009 0 0 0 MARK PATTERSON MGR. OF LOSS CONTROL SVCS. 119000 0 0 0 1504 0 25730 0 16383 0 162617 0 0 0 SCHEDULE J, PART II, COLUMN C MARK PATTERSON PARTICIPATES IN THE DEFINED BENEFIT PLAN. THE CHANGE IN ACTUARIAL VALUE OF $23,355 IS INCLUDED IN PART II, COLUMN C. ACTUAL CONTRIBUTIONS TO THE PLAN FOR MARK WERE $26,628. FORM 990, PART VI, SECTION A, LINE 6 ANY RURAL ELECTRIC COOPERATIVE CORPORATION ORGANIZED UNDER THE LAWS OF THE STATE OF SOUTH DAKOTA, OR ORGANIZED UNDER THE LAWS OF ANOTHER STATE AND DOING BUSINESS IN THE STATE OF SOUTH DAKOTA, MAY BECOME A VOTING MEMBER OF THE ASSOCIATION. ENTITIES WHICH ARE NOT ELIGIBLE TO BE VOTING MEMBERS MAY BECOME ASSOCIATE NON-VOTING MEMBERS IF APPROVED BY THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERSHIP OF THE ASSOCIATION ELECTS THE BOARD OF DIRECTORS AT THE ANNUAL MEETING. FORM 990, PART VI, SECTION A, LINE 8B THE ORGANIZATION DOES NOT HAVE COMMITTEES WITH BROAD AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B THE FINANCE MANAGER REVIEWS THE FORM 990 BEFORE IT IS FILED, AND A COPY IS PROVIDED TO THE BOARD OF DIRECTORS PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C BOARD MEMBERS SHALL MAKE FULL DISCLOSURE TO THE BOARD OR TO MANAGEMENT OF ANY FACTS WHICH MAY INDICATE A CONFLICT OF INTEREST. THE BOARD WILL DETERMINE IF AN ACTUAL CONFLICT EXISTS. IF A CONFLICT OF INTEREST EXISTS, HE/SHE SHALL DISQUALIFY HIMSELF/HERSELF FROM DECISIONS AND DELIBERATIONS THAT POSE A CONFLICT OF INTEREST OR CREATE THE APPEARANCE OF A CONFLICT OF INTEREST. BOARD MEMBERS MAY APPLY TO THE ASSOCIATION'S ATTORNEY FOR AN ADVISORY OPINION AS TO THE EXISTENCE OF A CONFLICT OF INTEREST ON A PARTICULAR ISSUE. THE POLICY IS REGULARLY AND CONSISTENTLY MONITORED. FORM 990, PART VI, SECTION B, LINE 15A THE PROCESS FOR DETERMINING COMPENSATION FOR THE GENERAL MANAGER INCLUDED THE USE OF A COMPENSATION SURVEY IN 2022, AND A PERFORMANCE REVIEW AND APPROVAL BY THE BOARD OF DIRECTORS ANNUALLY. FORM 990, PART VI, SECTION C, LINE 19 ALL DOCUMENTS AND POLICIES ARE AVAILABLE UPON REQUEST FORM 990 PART VII THE GENERAL MANAGER ACTS AS BOTH THE TOP MANAGEMENT OFFICIAL AND THE TOP FINANCIAL OFFICIAL OF THE ORGANIZATION.