Slope Electric Cooperative Inc
- Assets
- $117.9m
- Revenue
- $28.3m
- Investments
- $23.2m
- Employees
- 20
- Location
- New England, ND
- Founding
- 08/1954
- Data as of
- 12/2021
- EIN
- 45-0217360
Organization Overview
Slope Electric Cooperative Inc is located in New England, ND. The organization was established in 1954. 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 12/2021, Slope Electric Cooperative Inc employed 20 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Slope 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 12/2021, Slope Electric Cooperative Inc generated $28.3m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.2%) each year. All expenses for the organization totaled $28.3m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (2.2%) per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE EXEMPT PURPOSE OF THE ORGANIZATION IS TO DISTRIBUTE RELIABLE ELECTRIC SERVICE TO MEMBERS IN SLOPE, ADAMS, HETTINGER, AND BOWMAN COUNTIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SALE OF ELECTRIC ENERGY TO MEMBERS IN RURAL AREAS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dean Volk Operations Manager | 40 | $145,924 | |
Jeff Boynton Outpost Foreman | 40 | $122,709 | |
Dustin Hoff Working Foreman | 40 | $120,045 | |
Andrew Sonsalla Senior Staking Technician | 40 | $112,011 | |
Cody Braaten Journeyman Lineman | 40 | $110,919 | |
Henry Fischer Treasurer | OfficerTrustee | 5.92 | $11,425 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Innovative Energy Alliance Cooperative Professional Services | 12/30/21 | $810,623 |
3c Construction Llc Construction Services | 12/30/21 | $674,149 |
Northern Plains Heating & Air Hvac Technician | 12/30/21 | $112,214 |
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 | $26,980,303 |
| Investment income | $138,438 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $28,340,971 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $34,757 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $3,134,131 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $67,610 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $163,949 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $255,831 |
| 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 | $812,909 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,925,002 |
| Insurance | $0 |
| All other expenses | $533,166 |
| Total functional expenses | $28,340,971 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,629,960 |
| Savings and temporary cash investments | $29,866,119 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,142,943 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $596,524 |
| Inventories for sale or use | $1,624,839 |
| Prepaid expenses and deferred charges | $68,883 |
| Net Land, buildings, and equipment | $58,636,167 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $23,214,523 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $122,316 |
| Total assets | $117,902,274 |
| Accounts payable and accrued expenses | $2,027,982 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $28,293,839 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $13,654,209 |
| Total liabilities | $43,976,030 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $73,926,244 |
| Total liabilities and net assets/fund balances | $117,902,274 |
Grants Awarded
Over the last fiscal year, Slope Electric Cooperative Inc has awarded $70,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Bowman, ND PURPOSE: INSTALLMENT OF $250,000 DONATION TO BE PAID OVER 5 YEARS FOR EMERGENCY SERVICES CONTINGENT UPON BEING INVOICED ANNUALLY. LAST INSTALLMENT PAID IN 2018. | $50,000 |
Hettinger, ND PURPOSE: INSTALLMENT OF $100,000 DONATION TO BE PAID OVER 5 YEARS FOR EMERGENCY SERVICES CONTINGENT UPON BEING INVOICED ANNUALLY | $20,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Nodak Electric Cooperative Inc Grand Forks, ND | $162,149,817 | $119,843,322 |
Wright-Hennepin Cooperative Electric Association Rockford, MN | $233,547,306 | $112,957,716 |
Minnesota Valley Electric Cooperative Jordan, MN | $225,562,606 | $97,633,848 |
Sioux Valley-Southwestern Electric Cooperative Inc Colman, SD | $299,619,509 | $95,033,427 |
Lake Country Power Cohasset, MN | $343,138,601 | $92,478,659 |
Crow Wing Cooperative Power & Light Company Brainerd, MN | $238,884,299 | $79,431,443 |
Roughrider Electric Cooperative Inc Hazen, ND | $306,147,341 | $78,571,891 |
Mienergy Cooperative Rushford, MN | $203,461,309 | $76,660,548 |
Stearns Cooperative Electric Association Melrose, MN | $153,957,017 | $65,381,947 |
Beltrami Electric Cooperative Bemidji, MN | $132,948,143 | $58,653,821 |
Lake Region Electric Cooperative Pelican Rapids, MN | $144,282,112 | $56,997,078 |
Verendrye Electric Cooperative Inc Velva, ND | $164,038,117 | $53,998,395 |