2026-04-21T08:37:05-05:00 2025-12-31 450250958 EIDE BAILLY LLP 345 N REID PL STE 400 SIOUX FALLS SD 571037034 990 2025-01-01 481206132 BLUESTEM ELECTRIC COOPERATIVE INC BLUE 7854562212 1000 SOUTH WIND DR WAMEGO KS 66547 MICHAEL LEITCH CHIEF EXECUTIVE OFFICER 7854562212 2026-04-05 1 LAURIE HANSON CPA P00851848 6053391999 2026-04-05 2025 2025-03-06 01:10:19Z MICHAEL LEITCH 1000 SOUTH WIND DR WAMEGO KS 66547 20826453 0 X WWW.BLUESTEMELECTRIC.COM X 1999 KS PROVIDE SAFE RELIABLE ENERGY TO RURAL COOPERATIVE MEMBERS. 11 11 33 0 0 0 0 0 18714902 20182136 270552 581234 18812 17045 19004266 20780415 18289 23693 669178 2028494 3388182 3588005 0 0 0 14928617 15140223 19004266 20780415 0 0 64685026 66362820 39154407 39017096 25530619 27345724 SAFE RELIABLE ENERGY 0 0 PROVIDED ELECTRICITY TO APPROXIMATELY 7,669 SERVICES/CONSUMERS. SERVED 2,910.2 MILES OF 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 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 36 0 1 33 1 0 0 0 0 0 20493691 771613 0 0 0 X 11 11 0 0 0 0 1 1 0 1 0 0 0 1 1 1 1 1 1 1 0 0 X MICHAEL LEITCH 7854562212 1000 SOUTH WIND DR WAMEGO KS 66547 X MARK DIEDERICH PRESIDENT 15.50 X X 15692 0 0 BRUCE MEYER SECRETARY 20.70 X X 23469 0 0 AMANDA GNADT TREASURER 7.50 X X 9712 0 0 RICHARD RIDDER TRUSTEE 9.80 X 12660 0 0 MATTHEW REZAC TRUSTEE 7.50 X 8614 0 0 STEPHEN O'SHEA TRUSTEE 11.20 X 11741 0 0 GARY BUSS TRUSTEE 21.60 X 26673 0 0 PATRICIA BLOOMDAHL TRUSTEE 12.50 X 13144 0 0 STEVE OHLDE TRUSTEE 8.80 X 8716 0 0 BRENT MCKEEMAN TRUSTEE 11.60 X 11520 0 0 DONALD CLASSEN VICE PRESIDENT 8.00 X X 9172 0 0 MICHAEL M MORTON GENERAL MANAGER (RET 1/3/25) 24.00 X 48210 0 3791 TRISHA BRADLEY MANAGER OF ACCOUNTING & FINANCE 43.40 X 133806 0 43230 MICHAEL LEITCH CEO 46.30 X 167919 0 34871 KEVIN HEPTIG MANAGER OF MEMBER SERVICES 45.50 X 113905 0 100357 BENJIMIN EASTERBERG MANAGER OF AMI & MAPPING 43.90 X 112223 0 47958 BENJAMIN MATTHEWS III OPERATIONS FOREMAN 43.40 X 112497 0 61623 JEROD CHAFFEE MANAGER OF LINE OPERATIONS 42.00 X 120997 0 65425 THAD DONNELLY ASSISTANT MANAGER OF LINE OPERATIONS 41.80 X 111717 0 74179 1072387 0 431434 14 0 1 0 NATIONAL INFORMATIONS SOLUTION COOPERATI PO BOX 1147 MANDAN ND 58554 IT SUPPORT AND PRINT SERVICES 220171 SOLIDA TREE SERVICE INC PO BOX 421 PHILLIPSBURG KS 67661 UTILITY LINE CLEARANCE 206121 2 SALE OF POWER 221000 19819409 19819409 OTHER ELECTRIC REVENUE 221000 171766 171766 CAPITAL CREDITS 221000 165306 165306 25655 25655 20182136 102712 102712 518958 40436 478522 478522 478522 22647 5602 17045 17045 20780415 20173526 0 606889 13693 10000 2028494 605319 2239593 513552 229541 28948 27689 55510 68786 84842 25972 1252118 2115433 COST OF POWER 9514861 DISTRIBUTION-OPERATIONS 987254 DISTRIBUTION-MAINTENANC 544497 CUSTOMER SERVICE AND AC 234465 199848 20780415 2655864 3206646 1747843 1567406 288913 270505 890078 778578 68024198 16669210 51043921 51354988 1963553 2973836 6082476 6198407 1439 1439 10939 11015 64685026 66362820 1662676 1056540 37002898 37239364 488833 721192 39154407 39017096 X 127360 128940 0 0 25403259 27216784 25530619 27345724 64685026 66362820 X 0 1815105 X X 0 0 0 928408 928408 10962613 970625 9991988 55862877 15698585 40164292 270300 270300 51354988 NRUCFC CTCS 475431 C KANSAS ELECTRIC COOPERATIVE 50563 C FEDERATED RURAL ELECTRIC INSURANCE 173205 C NATIONAL INFORMATION SOLUTIONS COOPERATIVE 70900 C CENTRAL VALLEY AG COOP 11644 C CRC 7053 C NRUCFC 204930 C KANSAS ELECTRIC POWER COOPERATIVE 5039199 C NRTC 1366 C COBANK 148087 C MEMBERSHIPS 15985 C AG PARTNERS COOPERATIVE,INC 44 C 6198407 CUSTOMER DEPOSITS 220156 FINANCE LEASE OBLIGATIONS 38384 OTHER REGULATORY LIABILITIES 462652 721192 1 SCHOLARSHIPS FOR STUDENTS 10 10000 PART I, LINE 2: BLUESTEM ELECTRIC COOPERATIVE HAS A MASTER LIST OF ALL THE SCHOLARSHIPS THAT WERE AWARDED TO STUDENTS. EACH STUDENT MUST PROVIDE PROOF OF ENROLLMENT. ONCE PROVIDED, THE CHECK IS SENT DIRECTLY TO THE SCHOOL. X X 0 0 0 KEVIN HEPTIG MANAGER OF MEMBER SERVICES 108776 0 0 0 5129 0 75298 0 26487 0 215690 0 0 0 MICHAEL LEITCH CEO 165181 0 0 0 2738 0 3600 0 35636 0 207155 0 0 0 JEROD CHAFFEE MANAGER OF LINE OPERATIONS 118859 0 0 0 2138 0 35129 0 34465 0 190591 0 0 0 THAD DONNELLY ASSISTANT MANAGER OF LINE OPERATIONS 108828 0 0 0 2889 0 52149 0 23383 0 187249 0 0 0 TRISHA BRADLEY MANAGER OF ACCOUNTING & FINANCE 132666 0 0 0 1140 0 15081 0 29854 0 178741 0 0 0 BENJAMIN MATTHEWS III OPERATIONS FOREMAN 110909 0 0 0 1588 0 30570 0 34940 0 178007 0 0 0 BENJIMIN EASTERBERG MANAGER OF AMI & MAPPING 110317 0 0 0 1906 0 23277 0 26104 0 161604 0 0 0 FORM 990, SCHEDULE J, PART II, COLUMN C INCLUDED IN PART II, COLUMN C, IS THE CHANGE IN ACTUARIAL VALUE OF A DEFINED BENEFIT PLAN TOTALING $47,556 FOR THAD M. DONNELLY, $29,972 FOR JEROD CHAFFEE, $18,471 BENJIMAN C. EASTERBERG, $9,319 FOR TRISHA BRADLEY, $70,665 FOR KEVIN J. HEPTIG AND $26,398 FOR BENJAMIN R. MATTHEWS. ACTUAL CONTRIBUTIONS TO THE PLAN BY THE COOPERATIVE TOTALED $17,898 FOR THAD M. DONNELLY, $20,096 FOR JEROD CHAFFEE, $18,730 FOR BENJIMAN C. EASTERBERG, $22,451 FOR TRISHA BRADLEY, $17,976 FOR KEVIN J. HEPTIG AND $16,197 FOR BENJAMIN R. MATTHEWS. FORM 990, PART VI, SECTION A, LINE 6 THE COOPERATIVE HAS MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A EACH MEMBER OF THE COOPERATIVE SHALL BE ENTITLED TO VOTE IN THE ELECTION OF THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION A, LINE 8B THE COOPERATIVE HAS NO COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B THE BOARD REVIEWS FORM 990 AT A MONTHLY BOARD MEETING PRIOR TO FILING THE RETURN. FORM 990, PART VI, SECTION B, LINE 12C ANNUAL AND PERIODIC REVIEWS OF THE POLICY ARE MADE BY BOARD AND MANAGEMENT STAFF. IF IT IS DETERMINED THAT A POTENTIAL CONFLICT EXISTS, THE MATTER WILL BE REVIEWED BY THE BOARD AND LEGAL COUNSEL. IF IT IS DETERMINED BY THE BOARD THAT A CONFLICT DOES EXIST, THE BOARD WILL DETERMINE AND IMPOSE ANY NECESSARY RESTRICTION AS THEY SEE FIT UP TO AND INCLUDING REMOVAL OF A TRUSTEE FROM THE BOARD. FORM 990, PART VI, SECTION B, LINE 15A IN DETERMINING THE APPROPRIATE SALARY FOR THE CEO, THE BOARD OF TRUSTEES REVIEWS COMPENSATION DATA OF OTHER MANAGERS IN THE STATE. THE DATA IS COMPILED BY OUR STATEWIDE ORGANIZATION, KANSAS ELECTRIC COOPERATIVE, WHO GATHERS THE INFORMATION BY SURVEY. IN ADDITION TO THE STATEWIDE SURVEY, THE BOARD OF TRUSTEES USES A THIRD PARTY TO VERIFY ADDITIONAL INFORMATION ON THE CEO'S SALARY. THE BOARD OF TRUSTEES ARE ELECTED OFFICIALS WHO ARE COMPENSATED ON A PER MEETING/PER DIEM BASIS. THE COMPENSATION IS SET AT A LEVEL COMPARABLE TO THAT GIVEN TO BOARD MEMBERS WHO SERVE IN OTHER COOPERATIVES STATEWIDE AND AT OUR G&T. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. 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 MANAGER OF ACCOUNTING & FINANCE, MANAGER OF LINE OPERATIONS, ASSISTANT MANAGER OF LINE OPERATIONS, MANAGER OF MEMBER SERVICES, MANAGER OF AMI & MAPPING, AND OPERATIONS FOREMAN. 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 XI, LINE 9: RETIREMENT OF CAPITAL CREDITS -307,843. ALLOCATION OF 2024 MARGINS IN 2025 2,028,494. GAIN/LOSS ON RETIREMENT OF CAPITAL CREDITS 92,540. OTHER-MEMBERSHIPS ISSUED - NET 1,580. OTHER-UNCLAIMED PROPERTY PAID 334. FORM 990 PART XII LINE 2A FISCAL YEAR AUDIT: THE COOPERATIVE HAS AN AUDIT ON A FISCAL YEAR BASIS. THE COOPERATIVE'S MOST RECENT AUDIT WAS FOR THE FISCAL YEAR ENDED JUNE 30, 2025. 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.