Nonprofit · EIN 46-0205275
WHETSTONE VALLEY ELECTRIC COOPERATIVE INC
Tax-exempt · MILBANK, SD 57252
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2025 | 990 | $13,258,510 | $13,238,808 | $19,702 | $47,354,922 | $32,226,193 | $15,128,729 |
| December 31, 2024 | 990 | $12,566,732 | $12,517,576 | $49,156 | $44,583,627 | $29,806,617 | $14,777,010 |
| December 31, 2023 | 990 | $11,531,166 | $11,425,521 | $105,645 | $42,802,909 | $28,463,591 | $14,339,318 |
Financial details: 990 for the year ended December 31, 2025
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $13,203,919
- Investment income
- $34,888
- Net income from sales of inventory
- $19,703
- Other revenue
- $19,703
Expenses
- Grants and similar amounts paid
- $24,029
- Benefits paid to members
- $892,612
- Compensation of officers, directors and key employees
- $333,595
- Other salaries and wages
- $1,841,753
- Salaries, compensation and benefits (total)
- $2,690,100
- Professional fundraising fees
- $0
- Depreciation
- $1,275,947
Balance sheet and other
- Total assets, start of year
- $44,583,627
- Total assets, end of year
- $47,354,922
- Total liabilities, end of year
- $32,226,193
- Net assets, end of year
- $15,128,729
- Land, buildings and equipment
- $34,004,468
- Gross unrelated business income
- $4,986
- Gross receipts
- $14,460,008
- Employees
- 24
- Volunteers
- 0
- 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 |
|---|---|---|---|---|
| DAVID PAGE | GENERAL MANAGER Officer | 45 | $167,404 | $138,844 |
| JON CHRISTENSEN | OPERATIONS MANAGER Highest-paid employee | 45 | $118,290 | $68,527 |
| ERIC PEDERSON | LINE FOREMAN Highest-paid employee | 43 | $102,090 | $79,728 |
| MARK WEBER | MEMBER SERVICES MANAGER Highest-paid employee | 45 | $119,136 | $38,195 |
| BRIDGET ANDERSON | OFFICE MANAGER Highest-paid employee | 45 | $117,943 | $17,612 |
| GENE SASS | LINEMAN Highest-paid employee | 43 | $100,700 | $29,298 |
| KRISTA ATYEO-GORTMAKER | TREASURER Trustee or director, Officer | 5.8 | $12,915 | $0 |
| JOEL ADLER | PRESIDENT Trustee or director, Officer | 4.8 | $11,957 | $0 |
| MATT CAMERON | SECRETARY Trustee or director, Officer | 5.1 | $11,692 | $0 |
| TOM BERENS | DIRECTOR Trustee or director | 3.7 | $8,216 | $0 |
| BILL TOSTENSON | DIRECTOR Trustee or director | 3.7 | $7,528 | $0 |
| SCOTT NIEDERT | VICE PRESIDENT Trustee or director, Officer | 2.7 | $7,351 | $0 |
| DAVID BEHRNS | DIRECTOR Trustee or director | 3.3 | $6,265 | $0 |
| WAYNE JARMAN | DIRECTOR Trustee or director | 2.1 | $5,145 | $0 |
| PAUL NELSON | DIRECTOR Trustee or director | 1.3 | $4,983 | $0 |
990 for the year ended December 31, 2024: 14 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| DAVID PAGE | GENERAL MANAGER Officer | 45 | $163,827 | $128,694 |
| JON CHRISTENSEN | OPERATIONS MANAGER Highest-paid employee | 40 | $114,249 | $59,241 |
| MARK WEBER | MEMBER SERVICES MANAGER Highest-paid employee | 40 | $111,159 | $46,266 |
| BRIDGET ANDERSON | OFFICE MANAGER Highest-paid employee | 40 | $113,297 | $16,918 |
| JOEL ADLER | PRESIDENT Trustee or director, Officer | 7.7 | $14,961 | $0 |
| MATT CAMERON | SECRETARY Trustee or director, Officer | 6.6 | $11,639 | $0 |
| KRISTA ATYEO-GORTMAKER | TREASURER Trustee or director, Officer | 4.9 | $11,514 | $0 |
| TOM BERENS | DIRECTOR Trustee or director | 6 | $10,931 | $0 |
| BILL TOSTENSON | DIRECTOR Trustee or director | 5.6 | $9,426 | $0 |
| SCOTT NIEDERT | VICE PRESIDENT Trustee or director, Officer | 2.6 | $6,286 | $0 |
| DAVID BEHRNS | DIRECTOR Trustee or director | 3.9 | $6,199 | $0 |
| PAUL NELSON | DIRECTOR Trustee or director | 1.8 | $6,141 | $0 |
| WAYNE JARMAN | DIRECTOR (BEG MAR) Trustee or director | 3.6 | $5,626 | $0 |
| DARREN STRASSER | DIRECTOR (END MAR) Trustee or director | 1.5 | $696 | $0 |
990 for the year ended December 31, 2023: 14 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| DAVID PAGE | GENERAL MANAGER Officer | 48 | $148,254 | $102,602 |
| JONATHAN CHRISTENSEN | EMPLOYEE Highest-paid employee | 40 | $106,047 | $54,001 |
| MARK WEBER | EMPLOYEE Highest-paid employee | 40 | $107,488 | $43,768 |
| BRIDGET ANDERSON | EMPLOYEE Highest-paid employee | 40 | $105,284 | $15,722 |
| JOEL ADLER | VICE PRESIDENT Trustee or director, Officer | 5.5 | $11,795 | $0 |
| BILL TOSTENSON | PRESIDENT Trustee or director, Officer | 6.2 | $11,024 | $0 |
| MATT CAMERON | DIRECTOR (APRIL-DEC) Trustee or director | 3.7 | $9,840 | $0 |
| DAVID BEHRNS | DIRECTOR Trustee or director | 4.8 | $9,552 | $0 |
| KRISTA ATYEO-GORTMAKER | TREASURER Trustee or director, Officer | 3.3 | $8,693 | $0 |
| TOM BERENS | DIRECTOR Trustee or director | 3.6 | $7,622 | $0 |
| PAUL NELSON | DIRECTOR Trustee or director | 2.5 | $6,840 | $0 |
| SCOTT NIEDERT | DIRECTOR Trustee or director | 2.4 | $5,442 | $0 |
| DALE JENSEN | DIRECTOR (JAN-MAR) Trustee or director | 2.6 | $4,893 | $0 |
| DARREN STRASSER | SECRETARY Trustee or director, Officer | 1.9 | $4,608 | $0 |
Address and contacts
- Address (IRS master file)
- PO BOX 512, MILBANK, SD 57252-0512
- Principal officer (990 for 2025)
- DAVID K PAGE, PO BOX 512, MILBANK, SD 57252
- Signed the 990
- DAVID K PAGE, GENERAL MANAGER
- Phone
- (605) 432-5331
- Website
- WWW.WHETSTONE.COOP
- Return prepared by
- EIDE BAILLY LLP
Mission
TO ENHANCE THE QUALITY OF LIFE IN OUR COMMUNITY BY PROVIDING THE HIGHEST LEVEL OF SERVICE, QUALITY AND VALUE IN ELECTRICITY, DISTRIBUTION AND SERVICES.
Program accomplishments
- PROVIDED ELECTRIC SERVICE TO APPROXIMATELY 2,789 MEMBERS AND MAINTAINED 1,469 MILES OF LINE.
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
- 46-0205275
- Tax-exempt status
- 501(c)(12): Benevolent life insurance association or mutual company
- Donations deductible
- No
- Exempt since
- 1944
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $47,354,922
- Income (IRS master file)
- $14,460,008
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2025 | $13,258,510 | $13,238,808 | $47,354,922 | XML |
| 990 | December 2024 | $12,566,732 | $12,517,576 | $44,583,627 | XML |
| 990 | December 2023 | $11,531,166 | $11,425,521 | $42,802,909 | XML |
| 990 | December 2022 | $11,362,354 | $11,267,152 | $39,780,870 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | 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 46-0205275).
Questions about WHETSTONE VALLEY ELECTRIC COOPERATIVE INC
- What is the EIN of WHETSTONE VALLEY ELECTRIC COOPERATIVE INC?
- The employer identification number (EIN) of WHETSTONE VALLEY ELECTRIC COOPERATIVE INC is 46-0205275.
- Is WHETSTONE VALLEY ELECTRIC COOPERATIVE INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(12) since 1944.
- Are donations to WHETSTONE VALLEY ELECTRIC COOPERATIVE INC tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does WHETSTONE VALLEY 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 WHETSTONE VALLEY 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 WHETSTONE VALLEY 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 WHETSTONE VALLEY ELECTRIC COOPERATIVE INC?
- The 990 for the year ended December 31, 2025 names DAVID K PAGE.
- Who are the officers and directors of WHETSTONE VALLEY ELECTRIC COOPERATIVE INC?
- The 990 for the year ended December 31, 2025 lists 15 people; 15 received compensation from the organization, the highest $167,404 (DAVID PAGE, GENERAL MANAGER).
- How much revenue does WHETSTONE VALLEY ELECTRIC COOPERATIVE INC have?
- On its 990 for the year ended December 31, 2025 it reported revenue of $13,258,510, expenses of $13,238,808 and total assets of $47,354,922 at year end.
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