Codington-Clark Electric Cooperative INC FY2020 filing

Not tax-deductible

Watertown, SDMutual-benefit / member-servingSince 1947EIN 46-0121065

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Our purpose is to provide Electric energy to the membership. We will: provide exemplary personal service; prudently manage revenue and expenses; operate and maintain safe and reliable distribution facilities; provide reasonably priced Electric energy; enhance community member relationships; maintain a safe and gratifying work environment for employees; and embrace change that benefits the membership.

$279K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Pay: Part VII

Before you give

FY2020 · Form 990Independent: from IRS data, not the org
Download 990
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
6 of 6
filings with a surplus
Average surplus $0 a year · under 1% of revenue · last 6 filings
Looks good: a surplus in 6 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Pay to officers and key staff
$279K
to officers and key staff · 2% of spending
Looks good: pay to officers and key staff is 2% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
2 mo
of spending, in cash
Fine: 2.0 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$29.8M
63% of total assets
Fine: liabilities are 63% of assets; 50% to 65%.
Pt X · Ln 26
Independent board members
9
of 9 voting members
Looks good: 9 of 9 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$13.1M
Spent
$13.1M
Net assets
$17.2M
By yearFY2020–FY2025
Revenue
$13.1M
FY2020
Revenue by fiscal year
FY2020$13.1M
FY2021$12.8M
FY2022$14.4M
FY2023$15.2M
FY2024$16.4M
FY2025$17.9M
Expenses
$13.1M
FY2020
Expenses by fiscal year
FY2020$13.1M
FY2021$12.8M
FY2022$14.4M
FY2023$15.2M
FY2024$16.4M
FY2025$17.9M
Net assets
$17.2M
FY2020
Net assets by fiscal year
FY2020$17.2M
FY2021$17.6M
FY2022$18.7M
FY2023$19.6M
FY2024$20.4M
FY2025$21.4M

From the FY2020 Form 990 · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Aug 1949.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Who runs it and what they're paid

11 people listed on the 990; $279K paid to officers and key staff.

Part VII, Section A · reportable compensation
General Manager
$139,517Pt VII · Sec A
Distribution System Manager
$102,238Pt VII · Sec A
Treasurer
$4,700Pt VII · Sec A
Vice President
$4,700Pt VII · Sec A
$4,300Pt VII · Sec A
Director
$4,100Pt VII · Sec A
$4,100Pt VII · Sec A
$4,100Pt VII · Sec A

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
David Eide$182,134$169,904$157,257$149,919$143,304$139,517
Jared Terhark$123,543$118,441$107,977$112,053$103,259$102,238
Jarod Sutten$110,820$110,639$102,689———
James Hatton$108,608$101,782————
Natasha Torgerson$105,732—————
Rhyan Koch$102,920—————
Roy Gjerde$8,000$4,600$5,000$5,100$4,400$4,100
Daniel Thyen$7,300$4,700$5,700$4,100$3,700$4,700

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Provides affordable electricity to members.

Provided by the organization

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1 program service, described in the organization's own filed words · FY2020.
01

Provided electric service to aproximately 2,490 members. Added, retired or replaced approximately 22 miles of underground and 14 miles of overhead line.

Pt IX · col B

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By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
$13.1M
Ln 12
Fees for servicesLn 2g$12.9M
Investment incomeLn 3$193K
Money outPt IX
$13.1M
Ln 25
Owns and owesPt X
$17.2M
net assets · Ln 32
Cash and savingsLn 1–2$2.1M
Total assetsLn 16$47.0M
LiabilitiesLn 26$29.8M
PeoplePt VI, VII
11
listed · VII A
PaidVII A11
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$12.9M
Investment incomeLn 3$193K
Gains on assetsLn 7$954
Total revenueLn 12$13.1M
Assets in detailPt X, end of year
SavingsLn 2$2.1M
Cash and savings togetherLn 1–2$2.1M
InvestmentsLn 11–13$8.3M
Land, buildings, equipmentLn 10c$34.2M
Other assetsLn 15$263K
Total assetsLn 16$47.0M
LiabilitiesLn 26$29.8M
Net assetsLn 32$17.2M
OperationsPt I, VI
EmployeesI 515
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$1.9M$2.1M
InvestmentsLn 11–13$8.0M$8.3M
Land, buildings, equipmentLn 10c$33.1M$34.2M
Total assetsLn 16$45.3M$47.0M
LiabilitiesLn 26$28.7M$29.8M
Net assetsLn 32$16.6M$17.2M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Benefits paid to or for membersLn 4$1.0M
Pay of current officers, directors and key staffLn 5$394K
Other salaries and wagesLn 7$1.0M
Pension plan contributionsLn 8$232K
Payroll taxesLn 10$98K
Legal feesLn 11b$22K
Accounting feesLn 11c$14K
Advertising and promotionLn 12$299
Office expensesLn 13$49K
Information technologyLn 14$72K
OccupancyLn 16$3K
TravelLn 17$20K
InterestLn 20$883K
Depreciation, depletion and amortizationLn 22$1.3M
Other expenses (24a–d)Ln 24$8.2M
All other expensesLn 24e−$254K
Total functional expensesLn 25$13.1M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $17.9M$17.9M$0$21.4M 990 PDF
FY2024 $16.4M$16.4M$0$20.4M 990 PDF
FY2023 $15.2M$15.2M$0$19.6M 990 PDF
FY2022 $14.4M$14.4M$0$18.7M 990 PDF
FY2021 $12.8M$12.8M$0$17.6M 990 PDF
FY2020 Viewing $13.1M$13.1M$0$17.2M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2020 990 (4 parts)
Part VIII · Statement of revenue $13,067,051 across 4 lines filed
Lines not itemized here account for −$14,016 of total revenue; see the IRS return.
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $12,888,404$12,888,404
VIII-3 Investment incomeExcluded from tax $191,709$191,709
VIII-7 Net gain or loss on sales of assetsExcluded from tax $954$954
VIII-12 Total revenueRelated to mission $12,874,388 · Unrelated business $0 · Excluded from tax $192,663$13,067,051
Part IX · Statement of functional expenses $13,067,051 across 16 lines filed
IX-4 Benefits paid to or for members$1,046,224
IX-5 Pay of current officers, directors and key staff$393,552
IX-7 Other salaries and wages$1,037,127
IX-8 Pension plan contributions$232,324
IX-10 Payroll taxes$98,329
IX-11b Legal fees$21,558
IX-11c Accounting fees$14,324
IX-12 Advertising and promotion$299
IX-13 Office expenses$49,202
IX-14 Information technology$71,665
IX-16 Occupancy$2,594
IX-17 Travel$20,399
IX-20 Interest$882,981
IX-22 Depreciation, depletion and amortization$1,273,464
IX-24 Other expenses (24a–d)$8,177,410
IX-24e All other expenses−$254,401
IX-25 Total functional expenses$13,067,051
Part X · Balance sheet $46,975,549 assets, 15 lines filed
X-2 Savings and temporary cash investmentsStart of year $1,946,961$2,145,342
X-4 Accounts receivableStart of year $1,300,869$1,159,483
X-8 Inventories for sale or useStart of year $576,249$841,946
X-9 Prepaid expenses and deferred chargesStart of year $11,229$4,009
X-10c Land, buildings and equipment, netStart of year $33,148,016$34,247,392
X-12 Other securitiesStart of year $137,060$90,381
X-13 Program-related investmentsStart of year $7,903,866$8,224,017
X-15 Other assetsStart of year $244,586$262,979
X-16 Total assetsStart of year $45,268,836$46,975,549
X-17 Accounts payable and accrued expensesStart of year $1,373,043$1,309,140
X-24 Unsecured notes and loans payableStart of year $249,517$974,035
X-25 Other liabilitiesStart of year $2,390,420$2,811,058
X-26 Total liabilitiesStart of year $28,653,170$29,807,171
X-32 Total net assets or fund balancesStart of year $16,615,666$17,168,378
X-33 Total liabilities and net assetsStart of year $45,268,836$46,975,549
Part XI · Reconciliation of net assets $17,168,378 net assets at year end
XI-1 Total revenue$13,067,051
XI-2 Total expenses$13,067,051
XI-3 Revenue less expenses$0
XI-4 Net assets at start of year$16,615,666
XI-9 Other changes in net assets$552,712
XI-10 Net assets at end of year$17,168,378

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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