2025-07-11T11:24:33-05:00 2024-12-31 450250958 EIDE BAILLY LLP 345 N REID PL STE 400 SIOUX FALLS SD 571037034 990 2024-01-01 460121065 CODINGTON-CLARK ELECTRIC COOPERATIVE CODI 6058865848 3520 9TH AVE SW WATERTOWN SD 572017037 DAVID EIDE GENERAL MANAGER 6058865848 2025-07-11 1 1 LAURIE HANSON CPA P00851848 6053391999 2025-06-23 2024 2025-03-06 01:10:19Z DAVID EIDE 3520 9TH AVE SW WATERTOWN SD 572017037 16655682 0 X WWW.CCELECTRIC.COOP X 1947 SD TO MAKE ELECTRIC ENERGY AVAILABLE TO OUR MEMBERS AT THE LOWEST POSSIBLE COST. 9 9 17 0 0 0 0 0 15090660 16365463 144238 92306 -2250 -24855 15232648 16432914 0 0 1356510 1301971 1860833 2007890 0 0 0 12015305 13123053 15232648 16432914 0 0 57707202 61679042 38065013 41250219 19642189 20428823 X OUR PURPOSE IS TO PROVIDE ELECTRIC ENERGY TO THE MEMBERSHIP. WE WILL: PROVIDE EXEMPLARY PERSONAL SERVICE; PRUDENTLY MANAGE REVENUE AND EXPENSES; OPERATE AND MAINTAIN SAFE AND RELIABLE DISTRIBUTION FACILITIES; PROVIDE REASONABLY PRICED ELECTRIC ENERGY; ENHANCE COMMUNITY MEMBER RELATIONSHIPS; MAINTAIN A SAFE AND GRATIFYING WORK ENVIRONMENT FOR EMPLOYEES; AND EMBRACE CHANGE THAT BENEFITS THE MEMBERSHIP. 0 0 PROVIDED ELECTRIC SERVICE TO APROXIMATELY 2,550 MEMBERS. ADDED, RETIRED OR REPLACED APPROXIMATELY 42 MILES OF UNDERGROUND AND 38 MILES OF OVERHEAD LINE. 0 0 0 0 0 0 0 0 0 1 0 1 0 1 0 0 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 75 0 1 17 1 0 0 0 0 0 0 0 15551912 661939 0 0 0 X 9 9 0 0 0 0 1 1 1 1 0 0 0 1 0 0 1 1 1 0 X NATASHA TORGERSON 6058865848 3520 9TH AVENUE SW WATERTOWN SD 572017037 RUSSELL HURLBERT DIRECTOR 10.00 X 6900 0 0 MICHAEL MELAND DIRECTOR 10.00 X 5700 0 0 BENJAMIN FLEMING DIRECTOR 10.00 X 4900 0 0 DANIEL THYEN VICE PRESIDENT 10.00 X X 4700 0 0 ROY GJERDE SECRETARY 10.00 X X 4600 0 0 ALFRED SCHLEUSNER PRESIDENT 10.00 X X 4000 0 0 DAVID WARKENTHIEN DIRECTOR 10.00 X 3800 0 0 JOHN RIDER TREASURER 10.00 X X 3100 0 0 RUSSELL FOSTER DIRECTOR 10.00 X 2800 0 0 DAVID EIDE GENERAL MANAGER 45.00 X 169904 0 107236 JARED TERHARK DISTRIBUTION SYSTEM MANAGER 45.00 X 118441 0 44996 JAROD SUTTEN MEMBER SERVICES MANAGER 45.00 X 110639 0 45673 JAMES HATTON CREW LEADER 45.00 X 101782 0 37289 541266 0 235194 4 0 1 0 ENGELSTAD ELECTRIC 602 ARROW AVE NE WATERTOWN SD 572010934 CONTRACTUAL WORK 356707 LARSON DIGGING INC 601 LINCOLN NW HURON SD 573505014 CONTRACTUAL WORK 282675 2 SALE OF ELECTRICITY 221000 15516175 15516175 CO-OP CAPITAL CREDITS 221000 764602 764602 OTHER CAPITAL CREDITS 221000 84686 84686 16365463 82055 82055 15000 4749 10251 10251 10251 193164 218019 -24855 -24855 16432914 16340608 0 92306 X 1301971 800099 895931 203946 107914 4213 22461 1673 66216 117967 2623 47347 970463 1591852 COST OF PURCHASED POWER 9798418 DISTRIBUTION EXP: OPERA 373600 TAX EXPENSE - KWH 259825 ADMINISTRATIVE & GENERA 176404 -310009 16432914 3180283 3378334 887429 1496456 1811085 1939164 -2342 5961 63119568 18719498 41817108 44400070 93190 87320 9842151 10294490 78298 77247 57707202 61679042 1486921 1653118 30010889 33396087 2041913 1335271 4525290 4865743 38065013 41250219 X 0 0 0 0 19642189 20428823 19642189 20428823 57707202 61679042 X 0 786634 X X 0 0 0 74032 74032 2787638 931734 1855904 3367861 2564152 803709 56890037 15223612 41666425 44400070 PATRONAGE FROM ASSOCIATED CO-OPS 9468304 C CAPITAL TERM CREDITS - SUPPLEMENTAL FINANCING 304891 C INVESTMENTS IN ASSOCIATED ORGANIZATIONS - OTHER 301621 C PATRONAGE CAPITAL FROM SUPPLEMENTAL FINANCING 171230 C PATRONAGE CAPITAL FROM ASSOCIATED ORGANIZATIONS 46144 C MEMBERSHIP FEES IN ASSOCIATED ORGANIZATIONS - OTHER 2300 C 10294490 REGULATORY LIABILITIES 3134502 OTHER DEFERRED CREDITS 1695466 CUSTOMER DEPOSITS 35775 4865743 X PART X, LINE 2: THE COOPERATIVE IS AUDITED ON A FISCAL YEAR BASIS. ITS MOST RECENT AUDIT WAS FOR THE YEAR ENDED OCTOBER 31, 2024. THE FOLLOWING UNCERTAIN TAX POSITION NOTE WAS INCLUDED IN THE AUDIT REPORT. CODINGTON-CLARK ELECTRIC COOPERATIVE, INC. 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 OCTOBER 31, 2024 AND 2023, THE UNRECOGNIZED TAX BENEFIT ACCRUAL WAS ZERO. CODINGTON-CLARK ELECTRIC COOPERATIVE, INC. WOULD RECOGNIZE FUTURE ACCRUED INTEREST AND PENALTIES RELATED TO UNRECOGNIZED TAX BENEFITS IN INCOME TAX EXPENSE IF INCURRED. X 1 1 X X 0 0 0 DAVID EIDE GENERAL MANAGER 169701 0 203 0 0 0 75605 0 45401 0 290910 0 0 0 JARED TERHARK DISTRIBUTION SYSTEM MANAGER 118224 0 217 0 0 0 13507 0 41180 0 173128 0 0 0 JAROD SUTTEN MEMBER SERVICES MANAGER 110422 0 217 0 0 0 14185 0 40225 0 165049 0 0 0 PART I, QUESTION 1 A&B: THE COOPERATIVE HAS A WELLNESS PLAN WHICH OFFERS A COST SHARE BENEFIT OF WELLNESS CENTER DUES AND INITIATION FEES. THIS BENEFIT IS OFFERED TO ALL EMPLOYEES. EMPLOYEES ARE REIMBURSED FOR ANY INITIATION FEES IF A RECEIPT FROM THE WELLNESS CENTER IS PROVIDED. DUES ARE REIMBURSED VIA PAYROLL PROVIDED THE EMPLOYEES USE THE FACILITY A PREDETERMINED NUMBER OF TIMES THROUGHOUT THE YEAR. PART I, QUESTION 3: THE BOARD OF DIRECTORS REVIEW AND APPROVE THE COMPENSATION PLAN ANNUALLY. THE BOARD USES A MARKET SURVEY TO COMPARE COMPENSATION FOR SIMILARILY QUALIFIED PERSONS TO ESTABLISH THE COMPENSATION OF THE GENERAL MANAGER. PART II: THE AMOUNT REPORTED IN COLUMN (C) RETIREMENT AND OTHER DEFERRED COMPENSATION INCLUDES THE ACTUARIAL VALUE OF THE RETIREMENT PLAN, NOT THE AMOUNT PAID BY THE COOPERATIVE. FORM 990, PART VI, SECTION A, LINE 6 ANY PERSON, FIRM, ASSOCIATION, CORPORATION OR BODY POLITIC OR SUBDIVISION THEREOF WILL BECOME A MEMBER OF CODINGTON-CLARK ELECTRIC COOPERATIVE, INC. (HEREINAFTER CALLED THE "COOPERATIVE") UPON RECEIPT OF ELECTRIC SERVICE FROM THE COOPERATIVE, PROVIDED THAT IT HAS FIRST (A) MADE A WRITTEN APPLICATION FOR MEMBERSHIP THEREIN; (B) AGREED TO PURCHASE FROM THE COOPERATIVE ELECTRIC ENERGY AS HEREINAFTER SPECIFIED; (C) AGREED TO COMPLY WITH AND BE BOUND BY THE ARTICLES OF INCORPORATION AND BYLAWS OF THE COOPERATIVE AND ANY RULES AND REGULATIONS ADOPTED BY THE BOARD. FORM 990, PART VI, SECTION A, LINE 7A EACH MEMBER OF THE COOPERATIVE PRESENT AT THE ANNUAL MEETING SHALL BE ENTITLED TO VOTE FOR ONE CANDIDATE FROM EACH DISTRICT FROM WHICH A DIRECTOR IS TO BE ELECTED. FORM 990, PART VI, SECTION A, LINE 7B THE COOPERATIVE MAY NOT SELL, LEASE, OR OTHERWISE DISPOSE OF ALL OR A SUBSTANTIAL PORTION OF ITS PROPERTY, UNLESS SUCH A SALE, LEASE, OR OTHER DISPOSITION IS AUTHORIZED BY THE AFFIRMATIVE VOTE OF NOT LESS THAN A MAJORITY OF ALL MEMBERS OF THE COOPERATIVE. THE BYLAWS MAY BE ALTERED, AMENDED, OR REPEALED BY THE MEMBERS AT ANY REGULAR OR SPECIAL MEETING, PROVIDED THE NOTICE OF SUCH MEETING SHALL HAVE CONTAINED A COPY OF THE PROPOSED ALTERATION, AMENDMENT OR REPEAL. FORM 990, PART VI, SECTION A, LINE 8B THE ORGANIZATION DOES NOT HAVE COMMITTEES WITH THE BROAD AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B PRIOR TO FILING WITH THE IRS, THE FORM 990 IS PRESENTED AT A REGULARLY SCHEDULED BOARD MEETING AND A BRIEF OVERVIEW IS GIVEN TO ALL DIRECTORS. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF DIRECTORS REVIEW AND APPROVE THE COMPENSATION PLAN ANNUALLY. THE BOARD USES A MARKET SURVEY TO COMPARE COMPENSATION FOR SIMILARLY QUALIFIED PERSONS IN FUNCTIONALLY COMPARABLE POSITIONS AT SIMILARLY SITUATED ORGANIZATIONS. CONTEMPORANEOUS DOCUMENTATION AND RECORD KEEPING FOR DELIBERATIONS AND DECISIONS REGARDING THE COMPENSATION ARRANGEMENTS ARE KEPT. A FORMAL WRITTEN PLAN IS CREATED BASED ON MARKET SURVEY. FORM 990, PART VI, SECTION C, LINE 19 A COPY OF THE YEAR END FINANCIAL STATEMENT IS PROVIDED TO ALL MEMBERS AT THE ANNUAL MEETING. A COPY OF THE BYLAWS IS GIVEN TO ALL MEMBERS WITH THE NEW MEMBERSHIP PACKET. THESE ITEMS ARE ALSO AVAILABLE UPON REQUEST. 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. FORM 990, PART XI, LINE 9: RETIREMENT OF CAPITAL CREDITS -543,196. GAIN ON CAPITAL CREDIT RETIREMENTS 41,381. UNCLAIMED CAPITAL CREDITS -13,522. ALLOCATION OF 2024 MARGINS IN 2025 1,301,971. FORM 990, PART XII, LINE 2B: THE FINANCIAL STATEMENTS OF THE COOPERATIVE WERE AUDITED BY AN INDEPENDENT AUDITOR AS OF THE FISCAL YEAR END 10/31/2024. FORM 990, PART I, LINE 19 REVENUE LESS EXPENSES: THE 2024 REVENUE LESS EXPENSE EQUALS $0 BECAUSE ALLOCABLE CAPITAL FOR THE CURRENT YEAR IS A DEDUCTION FROM EXPENSE FOR FORM 990 PURPOSES. THE COOPERATIVE OPERATES ON A NONPROFIT BASIS. AMOUNTS RECEIVED FROM FURNISHING ELECTRIC ENERGY IN EXCESS OF OPERATING COSTS AND EXPENSES ARE ALLOCATED TO MEMBERS ON A PATRONAGE BASIS. ALL OTHER AMOUNTS RECEIVED BY THE COOPERATIVE FROM ITS OPERATIONS IN EXCESS OF COSTS AND EXPENSES ARE ALSO ALLOCATED TO ITS MEMBERS ON A PATRONAGE BASIS TO THE EXTENT THEY ARE NOT NEEDED TO OFFSET CURRENT OR PRIOR DEFICITS. ALLOCABLE MARGINS ARE REPORTED ON PART IX, LINE 4, BENEFITS PAID TO OR FOR MEMBERS.