Nonprofit · EIN 46-0115942
BUTTE ELECTRIC COOPERATIVE INC
Also known as MATTHEW R SLEEP
Tax-exempt · NEWELL, SD 57760
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2025 | 990 | $10,055,564 | $9,079,441 | $976,123 | $72,498,010 | $42,743,898 | $29,754,112 |
| December 31, 2024 | 990 | $10,549,791 | $8,762,491 | $1,787,300 | $71,776,161 | $43,140,126 | $28,636,035 |
| December 31, 2023 | 990 | $10,045,075 | $7,800,336 | $2,244,739 | $72,523,427 | $45,770,272 | $26,753,155 |
Financial details: 990 for the year ended December 31, 2025
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $517,463
- Investment income
- $262,869
- Net rental income
- $54,374
- Net gain from sales of assets
- $57,183
- Net income from sales of inventory
- $8,888,541
- Other revenue
- $9,275,232
Expenses
- Grants and similar amounts paid
- $18,258
- Benefits paid to members
- $566,711
- Compensation of officers, directors and key employees
- $494,234
- Other salaries and wages
- $1,216,525
- Salaries, compensation and benefits (total)
- $2,534,726
- Professional fundraising fees
- $0
- Legal fees
- $26,250
- Accounting fees
- $36,500
- Occupancy
- $375,323
- Travel
- $417,996
- Depreciation
- $2,346,441
Balance sheet and other
- Total assets, start of year
- $71,776,161
- Total assets, end of year
- $72,498,010
- Total liabilities, end of year
- $42,743,898
- Net assets, end of year
- $29,754,112
- Land, buildings and equipment
- $57,251,538
- Gross unrelated business income
- $14,151
- Gross receipts
- $18,959,730
- Employees
- 29
- Year formed
- 1940
- State of legal domicile
- SD
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| MATTHEW SLEEP | CEO Officer | 40 | $193,150 | $57,605 |
| BRETT FOSHEIM | OPERATIONS M Highest-paid employee | 40 | $141,858 | $48,148 |
| KIMBERLY WINCE | CFO Officer | 40 | $111,792 | $43,879 |
| TRAVIS SCHENK | TREASURER Trustee or director, Officer | 1 | $12,556 | $0 |
| CRIS MILLER | PRESIDENT Trustee or director, Officer | 1 | $11,126 | $0 |
| STEVE SMEENK | DIRECTOR Trustee or director | 1 | $10,635 | $0 |
| THOMAS BRUNNER | SECRETARY Trustee or director, Officer | 1 | $10,574 | $0 |
| JESSICA CASTEEL | DIRECTOR Trustee or director | 1 | $10,191 | $0 |
| DAN MARRS | VICE-PRESIDE Trustee or director, Officer | 1 | $9,306 | $0 |
| CHANDY OLSON | DIRECTOR Trustee or director | 1 | $8,212 | $0 |
| DAN HEFNER | DIRECTOR Trustee or director | 1 | $8,024 | $0 |
| JAMES MORTENSON | ASST SECRETA Trustee or director, Officer | 1 | $7,185 | $0 |
990 for the year ended December 31, 2024: 11 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| MATTHEW SLEEP | CEO Officer | 40 | $195,300 | $39,317 |
| BRETT FOSHEIM | OPERATIONS M Highest-paid employee | 40 | $135,339 | $52,438 |
| TRAVIS SCHENK | TREASURER Trustee or director, Officer | 1 | $18,197 | $0 |
| STEVE SMEENK | DIRECTOR Trustee or director | 1 | $12,895 | $0 |
| PAUL WINKLER | DIRECTOR Trustee or director | 1 | $11,641 | $0 |
| THOMAS BRUNNER | SECRETARY Trustee or director, Officer | 1 | $11,001 | $0 |
| CRIS MILLER | PRESIDENT Trustee or director, Officer | 1 | $10,000 | $0 |
| DAN MARRS | VICE-PRESIDE Trustee or director, Officer | 1 | $9,242 | $0 |
| JAMES MORTENSON | ASST SECRETA Trustee or director, Officer | 1 | $8,431 | $0 |
| CHANDY OLSON | DIRECTOR Trustee or director | 1 | $7,991 | $0 |
| DAN HEFNER | DIRECTOR Trustee or director | 1 | $7,624 | $0 |
990 for the year ended December 31, 2023: 14 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| BRETT FOSHEIM | OPERATIONS M Highest-paid employee | 40 | $131,420 | $42,555 |
| JEFFERY HUGHES | NEWELL FOREM Highest-paid employee | 40 | $103,832 | $50,355 |
| JAMES GYLES | STURGIS FORE Highest-paid employee | 40 | $103,332 | $48,802 |
| BART MCLELLAN | MEMBER SERVI Highest-paid employee | 40 | $100,444 | $50,957 |
| MATTHEW SLEEP | CEO Officer | 40 | $123,397 | $0 |
| DAN MARRS | VICE-PRESIDE Trustee or director, Officer | 4 | $15,414 | $0 |
| TRAVIS SCHENK | TREASURER Trustee or director, Officer | 4 | $14,340 | $0 |
| CRIS MILLER | PRESIDENT Trustee or director, Officer | 4 | $14,175 | $0 |
| THOMAS BRUNNER | SECRETARY Trustee or director, Officer | 4 | $13,987 | $0 |
| STEVE SMEENK | DIRECTOR Trustee or director | 4 | $13,356 | $0 |
| PAUL WINKLER | DIRECTOR Trustee or director | 4 | $12,721 | $0 |
| DAN HEFNER | DIRECTOR Trustee or director | 4 | $11,965 | $0 |
| JAMES MORTENSON | ASST SECRETA Trustee or director, Officer | 4 | $11,270 | $0 |
| CHANDY OLSON | DIRECTOR Trustee or director | 4 | $10,420 | $0 |
Address and contacts
- Address (IRS master file)
- PO BOX 137, NEWELL, SD 57760-0137
- Principal officer (990 for 2025)
- MATTHEW SLEEP, PO BOX 137, NEWELL, SD 57760
- Signed the 990
- MATTHEW SLEEP, CEO
- Phone
- (605) 456-2494
- Website
- HTTP://WWW.BUTTEELECTRIC.COM
- Return prepared by
- KETEL THORSTENSON LLP
Mission
THE MISSION OF BUTTE ELECTRIC COOPERATIVE IS TO CONTINUALLY IMPROVE CUSTOMER SERVICES; PROVIDE SAFE, RELIABLE, AND COMPETITIVELY PRICED ELECTRICITY; AND CONTINUE TO LEAD IN DEVELOPING OUR COMMUNITIES FOR THE BENEFIT OF OUR MEMBERS.
Program accomplishments
- SALE OF ELECTRICITY TO APPROXIMATELY 7,472 CONSUMER ACCOUNTS.
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | 990 on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 46-0115942
- Tax-exempt status
- 501(c)(12): Benevolent life insurance association or mutual company
- Donations deductible
- No
- Exempt since
- 1942
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $72,498,010
- Income (IRS master file)
- $18,959,730
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2025 | $10,055,564 | $9,079,441 | $72,498,010 | XML |
| 990 | December 2024 | $10,549,791 | $8,762,491 | $71,776,161 | XML |
| 990 | December 2023 | $10,045,075 | $7,800,336 | $72,523,427 | XML |
| 990 | December 2022 | $8,803,300 | $7,332,138 | $67,085,807 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2019 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 46-0115942).
Questions about BUTTE ELECTRIC COOPERATIVE INC
- What is the EIN of BUTTE ELECTRIC COOPERATIVE INC?
- The employer identification number (EIN) of BUTTE ELECTRIC COOPERATIVE INC is 46-0115942.
- Is BUTTE ELECTRIC COOPERATIVE INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(12) since 1942.
- Are donations to BUTTE ELECTRIC COOPERATIVE INC tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does BUTTE ELECTRIC COOPERATIVE INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of BUTTE ELECTRIC COOPERATIVE INC due?
- The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did BUTTE ELECTRIC COOPERATIVE INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2025.
- Who is the principal officer of BUTTE ELECTRIC COOPERATIVE INC?
- The 990 for the year ended December 31, 2025 names MATTHEW SLEEP.
- Who are the officers and directors of BUTTE ELECTRIC COOPERATIVE INC?
- The 990 for the year ended December 31, 2025 lists 12 people; 12 received compensation from the organization, the highest $193,150 (MATTHEW SLEEP, CEO).
- How much revenue does BUTTE ELECTRIC COOPERATIVE INC have?
- On its 990 for the year ended December 31, 2025 it reported revenue of $10,055,564, expenses of $9,079,441 and total assets of $72,498,010 at year end.
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