2026-07-27T08:06:52-05:00 2025-12-31 992923038 BRADY MARTZ PLLC PO BOX 1297 BISMARCK ND 585021297 990 2025-01-01 810216871 SHERIDAN ELECTRIC COOPERATIVE INC SHER 4064892231 PO BOX 227 MEDICINE LAKE MT 59247 SCOTT WESTLUND GENERAL MANAGER 4067892231 2026-07-17 1 LANCE RAMBOUSEK P01212867 7012231717 2026-07-17 2025 2025-03-06 01:10:19Z SCOTT WESTLUND PO BOX 227 MEDICINE LAKE MT 59247 21833510 0 X WWW.SHERIDANELECTRIC.COOP X 1946 MT RURAL ELECTRONIC COOPERATIVE PROVIDES ELECTRIC SERVICES TO MEMBERS 8 8 31 0 0 0 0 0 18658394 20920005 105365 254146 581485 659359 19345244 21833510 0 0 1583531 2269313 1712255 1147201 0 0 0 16049458 18416996 19345244 21833510 0 0 68442098 72991659 27723227 31596521 40718871 41395138 RURAL ELECTRIC COOPERATIVE PROVIDES ELECTRIC SERVICES TO MEMBERS 0 0 RURAL ELECTRIC COOPERATIVE PROVIDES ELECTRIC SERVICES TO MEMBERS 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 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 23 0 1 31 1 0 0 0 0 0 0 0 19443698 2389812 0 0 0 X 8 8 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 0 1 1 0 X RILEY TOMMERUP 4067892231 PO BOX 227 MEDICINE LAKE MT 59247 X RODNEY SMITH PRESIDENT 1.00 X X 4000 0 18226 ANDY DETHMAN VICE PRESIDENT 1.00 X X 4000 0 34498 ROBERT RUST SECRETARY 1.00 X X 2600 0 34498 KERREY HEPPNER TREASURER 1.00 X X 3200 0 34498 MARK ERICKSON DIRECTOR 1.00 X 2800 0 18226 JODY LAGERQUIST DIRECTOR 1.00 X 4200 0 18226 SHERL SHANKS DIRECTOR 1.00 X 2800 0 18226 HARLAN SKILLINGBERG DIRECTOR 1.00 X 2000 0 18131 RICK HANSEN VICE PRESIDENT - RETIRED 1.00 X 3000 0 27675 SCOTT WESTLUND GENERAL MANAGER 40.00 X 190583 0 144827 RILEY TOMMERUP OFFICE MANAGER 40.00 X 135244 0 70386 KORY OPP LINE SUPERINTENDENT 40.00 X 165452 0 76846 JOSH JOHNSON MEMBER SERVICE & MARKETING 40.00 X 154286 0 72568 SHAWN SANSAVER LINE FOREMAN 40.00 X 137481 0 53985 BRYAN LENZ WAREHOUSE 40.00 X 123313 0 51751 JOSHUA MING LINE SUB-FOREMAN LINEMAN 40.00 X 123987 0 33070 1058946 0 725637 15 0 1 0 RED ROCK POWER INC PO BOX 725 HAVRE MT 59501 LINE CONSTRUCTION 2058961 EAPC ARCHITECTURE ENGINEERING 3100 DEMERS AVE GRAND FORKS ND 58201 ARCHITECT 388667 KP POWER CONSULTING 4424 TOYON DR BILLINGS MT 59106 ENGINEERING 319919 3 ELECTRIC REVENUE 221000 20920005 20920005 20920005 214880 214880 39266 0 39266 39266 39266 GEN & TRANS CAPITAL CREDITS 221000 640159 640159 MISCELLANEOUS 221000 19200 19200 659359 21833510 21560164 0 273346 X 2269313 354427 792774 1107093 2719038 COST OF POWER 9943218 DISTRIBUTION 3346348 ADMIN & GENERAL 1388093 CONSUMER ACCOUNTS 466608 -553402 21833510 2547798 4903426 11790 11856 2456720 3054822 1377838 1933266 36721 50983 103636712 48232969 54645872 55403743 7365045 7633249 314 314 68442098 72991659 2504013 2919085 122941 68801 22706697 23162299 2389576 5446336 27723227 31596521 X 0 0 40718871 41395138 0 0 40718871 41395138 68442098 72991659 X 0 676267 X X 0 1 X 1 0 1 154998 154998 1082866 786152 296714 98395314 47446817 50948497 4003534 4003534 55403743 CAPITAL CREDITS 7633249 C 7633249 ADVANCES FOR CONSTRUCTION 5435476 OTHER DEFERRED CREDITS 6637 OTHER LIABILITIES 4223 5446336 X 15148141 0 15148141 6685369 6685369 21833510 13362745 0 13362745 8470765 8470765 21833510 PART X, LINE 2: IT IS THE OPINION OF MANAGEMENT THAT THE COOPERATIVE HAS NO SIGNIFICANT UNCERTAIN TAX POSITIONS THAT WOULD BE SUBJECT TO CHANGE UPON EXAMINATION. THE FEDERAL INCOME TAX RETURNS OF THE COOPERATIVE ARE SUBJECT TO EXAMINATION BY THE IRS, GENERALLY FOR THREE YEARS AFTER THEY WERE FILED. PART XI, LINE 4B - OTHER ADJUSTMENTS: CHANGE OF FISCAL YEAR END REVENUE - TIMING DIFFERENCE 6,685,369. PART XII, LINE 4B - OTHER ADJUSTMENTS: NET MARGIN ALLOCATED 2,269,313. CHANGE OF FISCAL YEAR END EXPENSE - TIMING DIFFERENCE 6,201,452. SCHEDULE D, PART 11 AND PART 12 LINE 4B SHERIDAN ELECTRIC COOPERATIVE ELECTED TO CHANGE IT'S FISCAL YEAR END FOR FINANCIAL REPORTING PURPOSES FROM APRIL 30 TO DECEMBER 31 GOING FORWARD, WHICH ALIGNS THE TAX AND AUDIT REPORTING YEAR ENDS. X X X 0 0 0 SCOTT WESTLUND GENERAL MANAGER 187300 0 0 0 3283 0 109788 0 37158 0 337529 0 0 0 RILEY TOMMERUP OFFICE MANAGER 134386 0 0 0 858 0 35633 0 36329 0 207206 0 0 0 KORY OPP LINE SUPERINTENDENT 163597 0 0 0 1855 0 42120 0 36325 0 243897 0 0 0 JOSH JOHNSON MEMBER SERVICE & MARKETING 153573 0 0 0 713 0 37529 0 36443 0 228258 0 0 0 SHAWN SANSAVER LINE FOREMAN 135377 0 0 0 2104 0 37335 0 17189 0 192005 0 0 0 BRYAN LENZ WAREHOUSE 121736 0 0 0 1577 0 35100 0 17165 0 175578 0 0 0 JOSHUA MING LINE SUB-FOREMAN LINEMAN 123696 0 0 0 291 0 16419 0 17179 0 157585 0 0 0 PART I, LINE 3 THE PROCESS FOR DETERMINING THE COMPENSATION INCLUDES THE REVIEW OF STATE WIDE SALARY DATA THROUGH MECA AND CONSULTING, AS NEEDED. COMPENSATION FOR ALL MANAGEMENT POSITIONS ARE APPROVED BY THE BOARD. SCHEDULE J, PART II, COLUMN C, DEFERRED COMPENSATION INCLUDED IN OTHER COMPENSATION IS THE ESTIMATED CURRENT YEAR INCREASE IN THE ACTUARIAL VALUE OF THE DEFINED BENEFIT PLAN. THESE AMOUNTS DO NOT REPRESENT ANY CURRENT YEAR CONTRIBUTIONS TO THE PLAN. THEY ARE ESTIMATES OF THE INCREASE IN ACTUARIAL VALUE OF THE PLANS RECEIVED FROM NRECA. THE CURRENT YEAR EXPENSE AND INCREASE IN ACTUARIAL VALUE FOR EACH EMPLOYEE IS REFLECTED IN SCHEDULE O STATEMENT FOR FORM 990, PART VII, COLUMN F. FORM 990, PART VI, SECTION A, LINE 6 THE COOPERATIVE IS A MEMBER OWNED COOPERATIVE. FORM 990, PART VI, SECTION A, LINE 7A EACH MEMBER OF THE COOPERATIVE HAS ONE VOTE IN ELECTIONS OF THE BOARD MEMBERS. FORM 990, PART VI, SECTION A, LINE 7B EACH COOPERATIVE MEMBER IS ALLOWED A VOTE TO APPROVE ANY BY-LAW CHANGES. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 WAS PRESENTED AT A BOARD MEETING. THE FORM 990 IS REVIEWED PRIOR TO IT BEING PRESENTED TO THE BOARD AND PRIOR TO IT BEING FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C AT EACH BOARD MEETING, ANY DIRECTOR WHO ACTUALLY OR POTENTIALLY IS INVOLVED WITH A SELF-DEALING MATTER, SHALL MAKE FULL DISCLOSURE OF THE INTEREST, SHALL NOT VOTE ON THE MATTER, AND SHALL LEAVE THE BOARD ROOM DURING THE DISCUSSION OF THE MATTER UNLESS REQUESTED TO STAY IN THE BOARD ROOM DURING THE DISCUSSION. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF DIRECTORS MAKE A DECISION BASED ON MECA DATA ON MT CEO SALARIES FORM 990, PART VI, SECTION C, LINE 19 THE FINANCIAL STATEMENTS ARE PRESENTED AT THE ANNUAL MEETING HELD BY THE COOPERATIVE. COPIES OF THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART VII, SECTION A, COLUMN F INCLUDED IN COLUMN F, ESTIMATED AMOUNT OF OTHER COMPENSATION, IS THE ESTIMATED ANNUAL INCREASE IN THE ACTUARIAL VALUE OF THE DEFINED BENEFIT PLAN. THE ESTIMATED INCREASE FOR ALL INDIVIDUALS LISTED ON THE TABLE IS AS FOLLOWS: SCOTT WESTLUND - $100,288 RILEY TOMMERUP - $28,674 KORY OPP - $34,986 JOSH JOHNSON - $30,916 SHAWN SANSAVER - $31,700 BRYAN LENZ - $29,700 JOSHUA MING - $10,889 THIS AMOUNT IS AN ESTIMATE OF THE INCREASE OF THE VALUE OF THE PLAN AND IS NOT A CURRENT YEAR EXPENSE OF THE COOPERATIVE, THEREFORE THESE AMOUNTS HAVE NOT BEEN CARRIED OVER TO COMPENSATION OF CURRENT OFFICERS, DIRECTORS, TRUSTEES AND KEY EMPLOYEES ON THE STATEMENT OF FUNCTIONAL EXPENSE FOR THE APPLICABLE INDIVIDUALS. THE ACTUAL EXPENSE INCURRED FOR ALL INDIVIDUALS LISTED ON THE TABLE WHO PARTICIPATE IN THE DEFINED BENEFIT PLAN IS AS FOLLOWS: SCOTT WESTLUND - $61,690 RILEY TOMMERUP - $45,942 KORY OPP - $46,545 JOSH JOHNSON - $40,795 SHAWN SANSAVER - $27,110 BRYAN LENZ - $26,077 JOSHUA MING - $26,594 FORM 990, PART IX, LINE 4 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 BYLAWS OF THE COOPERATIVE. FORM 990, PART IX, LINE 24E THE LABOR/PAYROLL AND OTHER BENEFITS, REPORTED ON LINES 5 - 8 ARE ALREADY INCLUDED IN DISTRIBUTION EXPENSE, ADMINISTRATIVE & GENERAL EXPENSE, AND CUSTOMER ACCOUNTS EXPENSE. THEREFORE, THESE AMOUNTS ARE BEING SUBTRACTED OUT AS AN OTHER DEDUCTION (ALLOCATED COSTS) ON LINE 24E IN THE AMOUNT OF $1,147,200. FORM 990, PART XI, LINE 9: ALLOCATION OF CAPITAL CREDITS 2,269,313. RETIREMENT OF CAPITAL CREDITS -1,593,046. FORM 990, PART XII, LINE 2C THE COOPERATIVE'S BOARD OF DIRECTORS ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND THE SELECTION OF ITS INDEPENDENT ACCOUNTANT. SHERIDAN ELECTRIC TRUST INC PO BOX 227 MEDICINE LAKE MT 59247 413545147 COLLECT AND DISBURSE FUNDS FOR CHARITABLE PURPOSES MT 501(C)(3) 501(C)(3) SHERIDAN ELECTRIC COOPERATIVE INC 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 1 0