Nonprofit · EIN 46-0215043
KINGSBURY ELECTRIC COOPERATIVE INC
Tax-exempt · DE SMET, SD 57231
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $4,212,135 | $4,213,236 | -$1,101 | $12,513,905 | $8,747,342 | $3,766,563 |
| December 31, 2023 | 990 | $3,750,869 | $3,759,639 | -$8,770 | $11,965,736 | $8,327,383 | $3,638,353 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $4,175,578
- Investment income
- $24,858
- Net gain from sales of assets
- $100
- Net income from sales of inventory
- $11,699
- Other revenue
- $11,699
Expenses
- Grants and similar amounts paid
- $1,400
- Benefits paid to members
- $186,229
- Compensation of officers, directors and key employees
- $327,613
- Other salaries and wages
- $613,649
- Salaries, compensation and benefits (total)
- $1,114,680
- Professional fundraising fees
- $0
- Depreciation
- $376,743
Balance sheet and other
- Total assets, start of year
- $11,965,736
- Total assets, end of year
- $12,513,905
- Total liabilities, end of year
- $8,747,342
- Net assets, end of year
- $3,766,563
- Land, buildings and equipment
- $8,495,225
- Gross receipts
- $4,516,468
- Employees
- 13
- Volunteers
- 0
- Year formed
- 1945
- 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, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| EVAN BUCKMILLER | GENERAL MANAGER Officer | 40 | $145,573 | $34,662 |
| RACHEL ANDERSON | CFO Officer | 40 | $72,564 | $24,861 |
| DEAN BJORKLUND | PRESIDENT Trustee or director, Officer | 2.5 | $6,250 | $0 |
| GREG NOEM | DIRECTOR Trustee or director | 2.5 | $5,250 | $0 |
| VERNE JENSEN | SECRETARY/TREASURER Trustee or director, Officer | 2.5 | $5,000 | $0 |
| RICHARD ABRAHAMSON | DIRECTOR Trustee or director | 2.5 | $4,750 | $0 |
| ALAN VEDVEI | VICE PRESIDENT Trustee or director, Officer | 2.5 | $3,500 | $0 |
| DAVE HELLER | DIRECTOR UNTIL 05/2024 Trustee or director | 2.5 | $1,750 | $0 |
| GARY PASTIAN | DIRECTOR FROM 07/2024 Trustee or director | 2.5 | $1,750 | $0 |
990 for the year ended December 31, 2023: 8 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| EVAN BUCKMILLER | GENERAL MANAGER Officer | 40 | $137,272 | $33,024 |
| RACHEL ANDERSON | ACCOUNTANT Officer | 40 | $62,179 | $19,505 |
| DAVE HELLER | DIRECTOR Trustee or director | 2 | $4,500 | $0 |
| ALAN VEDVEI | VICE PRESIDENT Trustee or director, Officer | 2 | $4,250 | $0 |
| RICHARD ABRAHAMSON | DIRECTOR Trustee or director | 2 | $4,000 | $0 |
| DEAN BJORKLUND | PRESIDENT Trustee or director, Officer | 2 | $3,500 | $0 |
| GREG NOEM | DIRECTOR Trustee or director | 2 | $3,500 | $0 |
| VERNE JENSEN | SECRETARY/TREASURER Trustee or director, Officer | 2 | $2,650 | $0 |
Address and contacts
- Address (IRS master file)
- 511 US-14 W, DE SMET, SD 57231-0000
- Principal officer (990 for 2024)
- DEAN BJORKLUND, 511 HWY 14 W PO BOX 126, DE SMET, SD 57231
- Signed the 990
- RACHEL ANDERSON, CFO
- Phone
- (605) 854-3522
- Website
- WWW.KEC-SD.COOP
- Return prepared by
- EIDE BAILLY LLP
Mission
THE MISSION OF KINGSBURY ELECTRIC COOPERATIVE, INC. IS TO PROVIDE THE BEST POSSIBLE ELECTRIC SERVICE TO ALL WHO DESIRE IT WITHIN THE SYSTEM'S SERVICE AREA AT THE LOWEST PRICE CONSISTENT WITH THE HIGHEST STANDARDS OF SERVICE; TO DEVELOP AND MAINTAIN A STRONG FINANCIAL STRUCTURE, PROVIDING ADEQUATE FUNDING AND CAPITAL TO COVER COOPERATIVE OBLIGATIONS AND FUTURE DEVELOPMENT; TO ADVISE AND INFORM MEMBERS AND EMPLOYEES OF COOPERATIVE DEVELOPMENTS AND OPERATIONS; AND TO PROVIDE FOR SAFE AND EFFICIENT OPERATIONS OF THE SYSTEM.
Program accomplishments
- PROVIDED ELECTRIC SERVICE TO 905 MEMBERS ALONG 672.89 MILES OF ELECTRIC 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 | Not 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
- 46-0215043
- Tax-exempt status
- 501(c)(12): Benevolent life insurance association or mutual company
- Donations deductible
- No
- Exempt since
- 1949
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $12,513,905
- Income (IRS master file)
- $4,516,468
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $4,212,135 | $4,213,236 | $12,513,905 | IRS |
| 990 | December 2023 | $3,750,869 | $3,759,639 | $11,965,736 | XML |
| 990 | December 2022 | $3,667,931 | $3,667,931 | $10,786,257 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
| 990 | December 2017 | – | – | – | 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 46-0215043).
Questions about KINGSBURY ELECTRIC COOPERATIVE INC
- What is the EIN of KINGSBURY ELECTRIC COOPERATIVE INC?
- The employer identification number (EIN) of KINGSBURY ELECTRIC COOPERATIVE INC is 46-0215043.
- Is KINGSBURY ELECTRIC COOPERATIVE INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(12) since 1949.
- Are donations to KINGSBURY ELECTRIC COOPERATIVE INC tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does KINGSBURY 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 KINGSBURY ELECTRIC COOPERATIVE INC due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did KINGSBURY ELECTRIC COOPERATIVE INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of KINGSBURY ELECTRIC COOPERATIVE INC?
- The 990 for the year ended December 31, 2024 names DEAN BJORKLUND.
- Who are the officers and directors of KINGSBURY ELECTRIC COOPERATIVE INC?
- The 990 for the year ended December 31, 2024 lists 9 people; 9 received compensation from the organization, the highest $145,573 (EVAN BUCKMILLER, GENERAL MANAGER).
- How much revenue does KINGSBURY ELECTRIC COOPERATIVE INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $4,212,135, expenses of $4,213,236 and total assets of $12,513,905 at year end.
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