2026-05-27T08:20:53-05:00 2025-12-31 450250958 EIDE BAILLY LLP 18081 BURT ST STE 200 OMAHA NE 680224722 990 2025-01-01 460454373 SOUTHEASTERN ELECTRIC COOPERATIVE INC SOUT 6056483619 47077 276TH ST LENNOX SD 57039 JON WUNDER CFO 6056483619 2026-05-21 1 MEGAN L KOZIOL CPA P01544037 4023302660 2026-05-21 2025 2025-03-06 01:10:19Z CHAD KINSLEY 47077 276TH ST LENNOX SD 57039 96531136 0 X WWW.SOUTHEASTERNELECTRIC.COM X 2000 SD PROVIDING ELECTRIC SERVICE TO MEMBER-CONSUMERS. 9 9 70 0 0 0 0 0 87281595 95578445 361112 410779 -22718 17949 87619989 96007173 57154 58395 7822965 9603124 8252800 8887348 0 0 0 71487070 77458306 87619989 96007173 0 0 265106823 274314515 171793109 173341119 93313714 100973396 MEMBER FOCUSED. MEMBER DRIVEN. AS A NON-PROFIT ELECTRIC COOPERATIVE, WE ARE HERE TO SERVE THE MEMBERS OF THE COOPERATIVE WITH RELIABLE, QUALITY AND AFFORDABLE ELECTRIC SERVICE AND TO DO THAT WE ARE FOCUSED ON THEIR NEEDS AND DESIRES. 0 0 PROVIDING ELECTRIC SERVICE TO APPROXIMATELY 20,718 MEMBER-CONSUMERS OVER 4,640 MILES OF 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 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 283 0 1 70 1 0 0 0 0 0 0 0 93123777 2390908 0 0 0 X 9 9 0 0 0 0 1 1 1 1 0 0 0 1 1 1 1 1 1 1 1 0 X JON WUNDER 8003332859 47077 276TH ST LENNOX SD 57039 X STEVE HOLMBERG PRESIDENT 5.40 X X 14455 0 0 ROBERT WOLLMANN VICE PRESIDENT 8.70 X X 16180 0 0 DARYL TERVEEN TREASURER 5.40 X X 12605 0 0 JOHNATHAN WILDEBOER SECRETARY 5.80 X X 13680 0 0 DON HEEREN DIRECTOR 5.80 X 12780 0 0 CHRIS HOFER DIRECTOR 2.60 X 8742 0 0 CARLOS HOFER DIRECTOR 4.90 X 14055 0 0 JOHN OSTRAAT DIRECTOR 4.20 X 10230 0 0 DONOVAN KOST DIRECTOR 8.00 X 17880 0 0 JON WUNDER CFO 40.00 X 171232 0 66526 CHAD KINSLEY CEO 40.00 X 347033 0 103435 JOHN EUCHNER VP OF OPERATIONS & ENGINEE 40.00 X 196128 0 126688 TODD NELSON VP OF INFORMATION TECHNOLOGY 40.00 X 178516 0 60960 DUANE PULSE LINE SUPERINTENDENT 40.00 X 143212 0 84700 ROBERT KALDA LINE SUPERINTENDENT 40.00 X 143155 0 58994 TROY PETERS LINE SUPERINTENDENT 40.00 X 156165 0 56612 ADAM STARK LINE SUPERINTENDENT 40.00 X 139373 0 79525 1595421 0 637440 38 0 1 0 DAVES CONSTRUCTION INC 5104 N HARVESTORE RD SIOUX FALLS SD 57107 UTILITY CONTRACTOR 1913796 DEWILD GRANT RECKERT & ASSOCIATES 1302 S UNION ST ROCK RAPIDS IA 51246 ENGINEERING SERVICES 293996 FRIEST TREE EXPERTS LLC 47732 273RD ST HARRISBURG SD 57032 TREE TRIMMING SERVICES 134241 OSMOSE UTILITIES SERVICES INC PO BOX 736729 DALLAS TX 75373 POLE TESTING SERVICES 132388 4 SALE OF ELECTRICITY 221000 90414059 90414059 COOPERATIVE CAPITAL CR 221000 5164386 5164386 95578445 400622 400622 24145 0 24145 24145 24145 25981 15824 10157 10157 10157 501943 508139 -6196 -6196 96007173 95596394 0 410779 X 58395 9603124 1123772 6014186 1242852 506538 5192759 7272913 PURCHASED POWER 60571931 DISTRIBUTION - OPERATIO 3736194 DISTRIBUTION - MAINTENA 2695646 CUSTOMER ACCOUNTS 1733887 -3745024 96007173 1459849 2687855 1950000 2070000 8053489 9094652 15171642 12205648 2892332 2363950 244462043 59485607 177661876 184976436 1636701 1642360 53770176 57120533 7246 7246 2503512 2145835 265106823 274314515 7796788 9420510 160390748 160310184 3605573 3610425 171793109 173341119 X 0 0 0 0 93313714 100973396 93313714 100973396 265106823 274314515 X 0 7659682 X X 0 1 X 1 0 503609 503609 11252283 2170717 9081566 231481898 57314890 174167008 1224253 1224253 184976436 PATRONAGE CAPITAL IN ASSOCIATED ORGANIZATIONS 56050505 C CAPITAL TERM CERTIFICATES - NRUCFC 677728 C MEMBER CAPITAL SECURITIES - NRUCFC 285000 C INVESTMENTS IN ECONOMIC DEVELOPMENT 104600 C MEMBERSHIPS IN ASSOCIATED ORGANIZATIONS 2700 C 57120533 OTHER BENEFIT OBLIGATION 442767 CUSTOMER DEPOSITS 548276 DEFERRED CREDITS 970472 REGULATORY LIABILITIES 1500000 OPERATING LEASE LIABILITY 148910 3610425 X 96007173 0 96007173 0 96007173 86404049 0 86404049 9603124 9603124 96007173 PART X, LINE 2: THE COOPERATIVE 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 COOPERATIVE 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: 2025 MARGINS ALLOCATED IN 2026 9,603,124. 1 FORWARD SIOUX FALLS 200 N PHILLIPS AVE STE 200 SIOUX FALLS SD 571046058 460396647 6600 0 GENERAL SUPPORT 0 1 PART I, LINE 2: THE COOPERATIVE MAKES DONATIONS TO ORGANIZATIONS THAT TIE INTO THE COMMUNITIES THAT IT SERVES. IT DOES NOT PROVIDE GRANT FUNDS, AND DOES NOT MONITOR THE USE OF DONATIONS BY RECIPIENT ORGANIZATIONS. X X X 0 0 0 CHAD KINSLEY CEO 344330 0 0 0 2703 0 66827 0 42457 0 456317 0 0 0 JOHN EUCHNER VP OF OPERATIONS & ENGINEE 193146 0 0 0 2982 0 89956 0 40747 0 326831 0 0 0 TODD NELSON VP OF INFORMATION TECHNOLOGY 171558 0 0 0 6958 0 23353 0 41260 0 243129 0 0 0 JON WUNDER CFO 170519 0 0 0 713 0 23693 0 46420 0 241345 0 0 0 DUANE PULSE LINE SUPERINTENDENT 142725 0 0 0 487 0 47425 0 39985 0 230622 0 0 0 ADAM STARK LINE SUPERINTENDENT 138943 0 0 0 430 0 37276 0 45029 0 221678 0 0 0 TROY PETERS LINE SUPERINTENDENT 154172 0 0 0 1993 0 14799 0 44634 0 215598 0 0 0 ROBERT KALDA LINE SUPERINTENDENT 141111 0 0 0 2044 0 19624 0 42251 0 205030 0 0 0 SCHEDULE J, PART II, LINE 1, COLUMN C: INCLUDED IN THE AMOUNT REPORTED IN COLUMN C FOR THE ACTUARIAL VALUE OF THE DEFINED BENEFIT PLAN ARE AS FOLLOWS: - CHAD KINSLEY $56,327 - JON WUNDER $18,138 - JOHN EUCHNER $83,885 - DUANE PULSE $42,920 - ADAM STARK $32,726 ACTUAL COOPERATIVE CONTRIBUTIONS TO THE DEFINED BENEFIT PLAN ARE AS FOLLOWS: - CHAD KINSLEY $65,450 - JON WUNDER $34,057 - JOHN EUCHNER $37,516 - DUANE PULSE $33,853 - TROY PETERS $14,467 - ADAM STARK $34,720 FORM 990, PART VI, SECTION A, LINE 6 EACH MEMBER-CONSUMER BECOMES A MEMBER OF THE COOPERATIVE UPON RECEIPT OF ELECTRIC SERVICE. FORM 990, PART VI, SECTION A, LINE 7A EACH MEMBER-CONSUMER HAS ONE VOTE. FORM 990, PART VI, SECTION A, LINE 7B MEMBER-CONSUMERS MUST APPROVE ANY BYLAW AMENDMENTS, THE SUBSTANTIAL DISPOSITION OF COOPERATIVE PROPERTY, ANY MERGERS OR CONSOLIDATIONS, AND THE REMOVAL OF ANY DIRECTORS FROM THE BOARD. FORM 990, PART VI, SECTION A, LINE 8B THERE ARE NO COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 WILL BE PROVIDED TO, AND REVIEWED WITH, ALL MEMBERS OF THE BOARD OF DIRECTORS BY THE MANAGEMENT STAFF AT A MEETING OF THE BOARD HELD PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C MEMBERS OF THE BOARD OF DIRECTORS ARE COVERED BY THE CONFLICT OF INTEREST POLICY. DETERMINATIONS OF WHETHER A CONFLICT EXISTS AND REVIEW OF ACTUAL CONFLICTS ARE MADE AT THE BOARD LEVEL. BOARD MEMBERS WITH CONFLICTS ARE REQUIRED TO ABSTAIN FROM DISCUSSION AND VOTING ON THE MATTER. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION OF THE CEO IS DETERMINED BY THE BOARD OF DIRECTORS TAKING INTO CONSIDERATION THE RESULTS OF STATE, REGIONAL AND NATIONAL COMPENSATION SURVEYS. THE BOARD ALSO APPLIES THE COOPERATIVE'S POLICY ON WAGE AND SALARY ADMINISTRATION IN THEIR DECISION MAKING PROCESS. THIS PROCESS OF REVIEWING THE CEO COMPENSATION IS DONE ON AN ANNUAL BASIS. FORM 990, PART VI, SECTION B, LINE 15B: THE CEO IS RESPONSIBLE FOR PROPOSING AN AGGREGATE WAGE AND SALARY PACKAGE FOR OTHER EMPLOYEES TO THE BOARD OF DIRECTORS FOR THEIR APPROVAL. INDIVIDUAL COMPENSATION LEVELS ARE DETERMINED BY THE CEO IN COMPLIANCE WITH THE COOPERATIVE'S WAGE AND SALARY ADMINISTRATION POLICY WHICH UTILIZES STATE, REGIONAL AND NATIONAL COMPENSATION SURVEYS. THIS PROCESS OF REVIEWING THE OTHER EMPLOYEES' COMPENSATION IS DONE ON AN ANNUAL BASIS. FORM 990, PART VI, SECTION C, LINE 19 THE COOPERATIVE'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE COOPERATIVE'S MEMBER-CONSUMERS BUT NOT THE GENERAL PUBLIC. BYLAWS AND FINANCIAL STATEMENTS ARE ROUTINELY PROVIDED TO THE MEMBER-CONSUMERS. THE CONFLICT OF INTEREST POLICY WOULD BE PROVIDED TO A MEMBER-CONSUMER UPON REQUEST. FORM 990, PART VII: BOARD MEMBERS ARE PAID A PER DIEM FOR ATTENDING MEETINGS. HOURS WORKED PER WEEK AS REPORTED ON PART VII MAY INCLUDE EDUCATION, TRAINING, OR OTHER MISCELLANEOUS COOPERATIVE-RELATED ACTIVITIES. 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 IX, LINES 5, 7, AND 10: THE LABOR AND PAYROLL TAXES REPORTED ON LINES 5, 7, AND 10 ARE INCLUDED IN DISTRIBUTION EXPENSES, ADMINISTRATIVE & GENERAL EXPENSE, AND CUSTOMER SERVICE EXPENSES. THEREFORE, LABOR AND PAYROLL TAXES ARE SHOWN AS A REDUCTION TO OTHER EXPENSES ON LINE 24E. FORM 990, PART XI, LINE 9: 2025 MARGINS ALLOCATED IN 2026 9,603,124. RETIREMENT OF PATRONAGE CAPITAL CREDITS -1,943,442. FORM 990, PART XII, LINE 2C: THE BOARD OF DIRECTORS IS RESPONSIBLE FOR SELECTION OF AN INDEPENDENT ACCOUNTANT AND THE OVERSIGHT OF THE AUDITED FINANCIAL STATEMENTS. THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.