Burke Divide Electric Cooperative Inc
- Assets
- $103.2m
- Revenue
- $24.2m
- Investments
- $604.6k
- Employees
- 33
- Location
- Columbus, ND
- Founding
- 04/1960
- Data as of
- 12/2023
- EIN
- 45-0217065
Organization Overview
Burke Divide Electric Cooperative Inc is located in Columbus, ND. The organization was established in 1960. According to its NTEE Classification (W80) the organization is classified as: Public Utilities, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2023, Burke Divide Electric Cooperative Inc employed 33 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Burke Divide Electric Cooperative Inc is a 501(c)(12) and as such, is described as a "Benevolent Life Insurance Association, Mutual Ditch or Irrigation Company, Mutual or Cooperative Telephone Company" by the IRS.
For the year ending 12/2023, Burke Divide Electric Cooperative Inc generated $24.2m in total revenue. The organization has seen a slow decline revenue. Over the past 9 years, revenues have fallen by an average of (2.0%) each year. All expenses for the organization totaled $24.2m during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (2.0%) per year over the past 9 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE RELIABLE HIGH QUALITY ELECTRICITY TO MEMBERS AT A COMPETITIVE COST.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE COOPERATIVE HAS 3,817 ACTIVE SERVICES, SERVES 1,414 MEMBERS AND MAINTAINS 2,572 MILES OF LINE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Sigloh President | OfficerTrustee | 9.3 | $16,182 |
Kent Haugland Vice President | OfficerTrustee | 6.5 | $12,032 |
Lynn Jacobson Secretary/treasurer | OfficerTrustee | 8.2 | $14,832 |
Steven Overlee Assistant Secretary/treasurer | OfficerTrustee | 5.3 | $32 |
Lane Titus Director | Trustee | 4.2 | $6,957 |
Kurt Koppelsloen Director | Trustee | 6.1 | $12,032 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Proline Utility Construction Llc Underground Distribution Construction | 12/30/23 | $454,037 |
Higher Power Llc Distribution Construction And Repair | 12/30/23 | $291,004 |
Hdr Engineering Inc Engineering Services | 12/30/23 | $187,190 |
Cass County Electric Cooperative Distribution Construction And Repair | 12/30/23 | $109,976 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $24,176,488 |
| Investment income | $266,970 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$175,529 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$98,193 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $24,169,736 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $1,979,388 |
| Compensation of current officers, directors, key employees. | $593,038 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,080,883 |
| Pension plan accruals and contributions | $767,047 |
| Other employee benefits | $0 |
| Payroll taxes | $260,916 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,580,205 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,344,721 |
| Insurance | $0 |
| All other expenses | -$4,379,789 |
| Total functional expenses | $24,169,736 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $11,319,297 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,431,590 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $3,553,002 |
| Prepaid expenses and deferred charges | $349,537 |
| Net Land, buildings, and equipment | $73,527,835 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $604,610 |
| Investments—program-related | $10,353,846 |
| Intangible assets | $0 |
| Other assets | $104,687 |
| Total assets | $103,244,404 |
| Accounts payable and accrued expenses | $1,909,940 |
| Grants payable | $0 |
| Deferred revenue | $4,097,937 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $607 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $54,551,391 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $60,559,875 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $6,831,870 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $35,852,659 |
| Total liabilities and net assets/fund balances | $103,244,404 |