2025-04-21T14:08:20-04:00 2024-12-31 990 2024-01-01 460212565 H-D ELECTRIC COOPERATIVE INC % MATTHEW HOTZLER H-DE 6058742171 PO BOX 1007 CLEAR LAKE SD 572261007 MATTHEW HOTZLER GENERAL MANAGER CEO 2025-04-22 2024 2025-03-06 01:10:19Z MATTHEW HOTZLER PO BOX 1007 CLEAR LAKE SD 572261007 16398543 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 26 0 21072 19772 0 0 13810684 14971848 163870 191927 104551 156730 14079105 15320505 1500 1500 1507130 1469140 1820259 2119841 0 0 0 10750216 11730024 14079105 15320505 0 0 48931326 50313314 33521342 33800580 15409984 16512734 COMMITTED TO SAFELY ENHANCE THE QUALITY OF LIFE FOR OUR MEMBERS EMPLOYEES AND COMMUNITIES. false false 0 0 0 PROVIDED ELECTRIC SERVICE TO APPROXIMATELY 2,956 MEMBERS. CONNECTED 54 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 false 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 56 0 true 26 true true true false false false false 15519217 409847 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 MATTHEW HOTZLER GENERAL MANAGER 49.00 0.00 X 191119 0 107567 TROY KWASNIEWSKI OPERATIONS MANAGER 40.00 0.00 X 155110 0 91024 ANNETTE ABERLE FINANCE ADMIN MANAGER 40.00 0.00 X 140955 0 80165 THOMAS LUNDBERG MEMBER SERVICE MANAGER 46.00 0.00 X 115563 0 62344 KEVIN HOLIDA LEAD LINEMAN 41.00 0.00 X 112539 0 63212 TODD SPRANG LINE FOREMAN 41.00 0.00 X 110031 0 78294 JOSEPH RAML LEAD LINEMAN 42.00 0.00 X 109988 0 45448 ROGER CUTSHAW ENGINEER 40.00 0.00 X 108199 0 26517 CASPER NIEMANN DIRECTOR 7.00 0.00 X 12350 0 0 CALVIN MUSCH DIRECTOR 6.00 0.00 X 11700 0 0 STEVE HANSEN DIRECTOR-TREASURER 6.00 0.00 X 11550 0 0 KEVIN DEBOER DIRECTOR 6.00 0.00 X 11350 0 0 TODD MORITZ DIRECTOR 5.00 0.00 X 9900 0 0 DALE WILLIAMS DIRECTOR 5.00 0.00 X 9500 0 0 TERRY STROHFUS DIRECTOR-VICE PRESIDENT 4.00 0.00 X 8200 0 0 ROXANNE BASS DIRECTOR-SECRETARY 4.00 0.00 X 7350 0 0 BERT ROGNESS DIRECTOR-PRESIDENT 4.00 0.00 X 6700 0 0 1132104 0 554571 9 false true false 0 0 0 0 0 0 0 0 SALE OF ELECTRICITY 221000 14198306 14198306 0 0 COOP CAPITAL CREDITS 221000 773542 773542 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 14971848 151785 0 0 151785 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 40142 0 0 0 40142 40142 40142 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1234768 1078038 156730 135658 21072 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 15320505 15147648 21072 151785 X 0 0 1500 0 0 0 1469140 0 847367 0 0 0 0 0 0 0 216654 0 0 0 375520 0 0 0 508153 0 0 0 172147 0 0 0 0 0 0 0 11640 0 0 0 21361 0 0 0 0 0 0 0 0 0 0 0 0 0 70337 0 0 0 14190 0 0 0 79525 0 0 0 117695 0 0 0 0 0 0 0 1827 0 0 0 231211 0 0 0 0 0 0 0 0 0 0 0 821673 0 0 0 68081 0 0 0 1471896 0 0 0 0 0 0 0 COST OF PURCHASE POWER 8242510 0 0 0 MISC. OPERATING EXPENSES 267866 0 0 0 SD GROSS kWh TAXES 203221 0 0 0 UNRELATED BUSINESS INCOME TAX PAID 3171 0 0 0 103820 0 0 0 15320505 0 0 0 0 0 0 0 22576 45759 1733054 1831338 0 0 1441475 1681572 0 0 0 0 0 0 2611733 2702828 1102056 279663 52178401 20305910 30181348 31872491 0 0 2797029 2457254 9042055 9442409 0 0 0 0 48931326 50313314 1208851 1416944 0 0 0 0 0 0 0 0 0 0 29149532 29565109 0 0 3162959 2818527 33521342 33800580 X 0 0 1075895 1300841 14334089 15211893 15409984 16512734 48931326 50313314 X 0 0 0 0 0 1102750 X true X true X true false 59378 59378 4911746 744021 4167725 47207277 19561889 27645388 31872491 INVESTMENTS IN ASSOCIATED ORGANIZATIONS 9442409 C 9442409 MARGIN STABILIZATION FUND 2192124 DEFERRED CREDITS-AMI METER ASSETS 275114 ACCUMULATED PROVISIONS FOR PENSIONS 181433 CONSUMER DEPOSITS & PREPAYMENTS 138272 UNCLAIMED PROPERTY-CAPITAL CREDITS 31584 2818527 X 15315356 0 15315356 5149 5149 15320505 13846216 0 13846216 1474289 1474289 15320505 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 2024 AND 2023 THE UNRECOGNIZED TAX BENEFIT ACCRUAL WAS ZERO. THE COOPERATIVE WOULD RECOGNIZE FUTURE ACCRUED INTEREST AND PENALTIES RELATED TO UNRECOGNIZED TAX BENEFITS IN INCOME TAX EXPENSE IF INCURRED. Part I to XII | PartandLinenumber:,Explanation:| Part X Line 1,ACCUMULATED PROVISIONS FOR PENSIONS RELATED TO DEFERRED COMPENSATION PLAN IS FOR THE COOPERATIVES GENERAL MANAGER. THE PLAN IS FULLY FUNDED BY THE PLAN PARTICIPANT.| Part XI Line 4,THE COOPERATIVE IS REPORTING INTEREST EXPENSE DEBT TO ORGANIZATION OF $1,978 PLUS 2023 FORM 990T INCOME TAX EXPENSE OF $3,171 ON THE FORM 990,PART IX STATEMENT OF EXPENSES. THE AUDITED FINANCIAL STATEMENTS REPORT THESE IN NET NON-OPERATING MARGINS.| Part XII Line 4,THE COOPERATIVE IS REPORTING INTEREST EXPENSE DEBT TO ORGANIZATION OF $1,978 PLUS 2023 FORM 990T INCOME TAX EXPENSE OF $3,171 ON THE FORM 990,PART IX STATEMENT OF EXPENSES. THE AUDITED FINANCIAL STATEMENTS REPORT THESE IN NET NON-OPERATING MARGINS. THE COOPERATIVE IS REPORTING 2024 NET MARGINS OF $1,469,140 AS AN EXPENSE ON FORM 990 PART IX LINE 4 BENEFITS PAID TO MEMBERS. THE AUDITED FINANCIAL STATEMENTS FOLLOW GAAP WHICH DOES NOT RECOGNIZE NET MARGINS PAID TO MEMBERS AS AN EXPENSE.| X true true X X false false false MATTHEW HOTZLER GENERAL MANAGER 179508 0 706 0 10905 0 78432 0 29136 0 298687 0 0 0 TROY KWASNIEWSKI OPERATIONS MANAGER 139748 0 706 0 14656 0 61888 0 29136 0 246134 0 0 0 ANNETTE ABERLE FINANCE & ADMIN. MANAGER 133548 0 706 0 6700 0 51030 0 29136 0 221120 0 0 0 THOMAS LUNDBERG MEMBER SERVICE MANAGER 109215 0 706 0 5641 0 33208 0 29136 0 177906 0 0 0 KEVIN HOLIDA LEAD LINEMAN 103201 0 706 0 8631 0 34077 0 29136 0 175751 0 0 0 TODD SPRANG LINE FOREMAN 104275 0 706 0 5050 0 49158 0 29136 0 188325 0 0 0 JOSEPH RAML LEAD LINEMAN 105850 0 706 0 3432 0 16312 0 29136 0 155436 0 0 0 Part I & Part II | PartandLinenumber:,Explanation:| Part I Line 1,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 General,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 General,COLUMN Biii: OTHER REPORTABLE COMPENSATION: THE COOPERATIVE HAS AN ALTERNATIVE PAID TIME OFF PLANVAC OVER 10 THAT ALLOWS EMPLOYEES WHO ARE PART OF THIS PLAN TO CHOOSE TO BE PAID UNUSED HOURS AT THEIR REGULAR PAY RATE AT YEAR END. THE COOPERATIVE ALSO HAS TWO DIFFERENT PTO PLANS. EMPLOYEES IN PTO PLAN #2 HAVE THE OPTION IN DECEMBER TO TURN IN UP TO 80 HOURS OF PTO AND PUT THE EQUIVALENT AMOUNT CALCULATED HOURS x PAY RATE ON JULY 1st OF CURRENT YEAR INTO THEIR 401K PLANPRE-TAX| 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 COOPERATIVES 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 ELECTRICS GOVERNING DOCUMENTS & POLICIES ARE AVAILABLE UPON REQUEST. FINANCIAL STATEMENS ARE POSTED IN THE COOPs MAGAZINE ANNUALLY PRIOR TO THE ANNUAL MEETING OF MEMBERS. ALL MEMBERS RECEIVE THE MONTHLY ISSUE OF THE COOP CONNECTIONS MAGAZINE VIA US POSTAL SERVICE. Part XI, Line 9 | Description:, Explanation:, Amount:| 2024 NET MARGINS = $1,469,140 - LESS CAPITAL CREDIT RETIREMENTS = $397,652 + PLUS CAPITAL CREDITS RETAINED=$31,262 = NET CHANGE $1,102,750, CHANGE IN FUND BALANCE, $1102750| Part IX Line 4 | Explanation:| THE COOPERATIVE IS REPORTING PATRONAGE CAPITAL ALLOCATION TO OUR MEMBERS OF 2024 NET MARGINS. THIS IS DIFFERENT FROM THE COOPERATIVES BOOK REPORTING AS THE COOPERATIVES 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 OPERATIONS. THE COOPERATIVES BY-LAWS ALLOW FOR NON-OPERATING MARGINS TO BE ALLOCATED TO MEMBES OR MAY BE USED BY THE COOPERATIVE AS PERMANENT NON-ALLOCATED CAPITAL DETERMINED ANNUALLY. ALLOCATION OF 2024 NET MARGINS AS APPROVED BY THE BOARD OF DIRECTORS WILL BE REPORTED TO MEMBERS IN 2025. 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.