Black Hills Electric Cooperative Inc
- Assets
- $75.1m
- Revenue
- $23.0m
- Investments
- $500.0
- Employees
- 29
- Location
- Custer, SD
- Founding
- 02/1955
- Data as of
- 12/2021
- EIN
- 46-0111503
Organization Overview
Black Hills Electric Cooperative Inc is located in Custer, SD. The organization was established in 1955. 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, Black Hills Electric Cooperative Inc employed 29 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Black Hills 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, Black Hills Electric Cooperative Inc generated $23.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.3% each year. All expenses for the organization totaled $19.7m during the year ending 12/2021. While expenses have increased by 2.6% per year over the past 7 years. They've been increasing with an increasing level of total revenue. 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
BLACK HILLS ELECTRIC COOPERATIVE IS A NON-PROFIT MEMBER OWNED ORGANIZATION WHOSE MISSION IS TO PROVIDE GREAT ELECTRIC DISTRIBUTION SERVICE AT THE LOWEST COST CONSISTENT WITH SOUND BUSINESS PRACTICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE ELECTRIC SERVICE TO 10,660 LOCATIONS IN THE RURAL AREA OF THE BLACK HILLS AND SOUTH WEST SOUTH DAKOTA 24 HOURS EACH DAY OF THE YEAR.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Walker Witt CEO | Officer | 57 | $233,599 |
William Brisk Mng Of Operations | 47 | $141,617 | |
Sammi Langendorf CFO | Officer | 49 | $136,176 |
Jesse Sorenson System Coordinator | 44 | $124,048 | |
Dean Whitney Crew Foreman | 44 | $105,409 | |
Al Perry Former Director | 0 | $18,149 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Rushmore Engineering Engineering Service | 12/30/21 | $163,576 |
Kainz Powerlines Inc Power Line Construction | 12/30/21 | $663,255 |
Allegiant Utility Services Inc Meter Exchange | 12/30/21 | $138,512 |
South Dakota Rural Electric Associa Training & Publishing | 12/30/21 | $121,371 |
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 | $22,826,294 |
| Investment income | $41,012 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $154,715 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $635 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $23,022,656 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $11,319 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $1,992,695 |
| Compensation of current officers, directors, key employees. | $409,176 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,356,933 |
| Pension plan accruals and contributions | $590,360 |
| Other employee benefits | $463,140 |
| Payroll taxes | $140,004 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $9,954 |
| Fees for services: Accounting | $19,889 |
| Fees for services: Lobbying | $1,150 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $259,628 |
| Advertising and promotion | $87,958 |
| Office expenses | $147,396 |
| Information technology | $109,484 |
| Royalties | $0 |
| Occupancy | $122,555 |
| Travel | $301,961 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $54,881 |
| Interest | $1,120,578 |
| Payments to affiliates | $92,037 |
| Depreciation, depletion, and amortization | $2,696,989 |
| Insurance | $129,734 |
| All other expenses | $3,931 |
| Total functional expenses | $19,702,955 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $450 |
| Savings and temporary cash investments | $6,333,796 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,821,607 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $3,028,148 |
| Prepaid expenses and deferred charges | $302,247 |
| Net Land, buildings, and equipment | $53,404,770 |
| Investments—publicly traded securities | $5,962 |
| Investments—other securities | $500 |
| Investments—program-related | $9,202,598 |
| Intangible assets | $0 |
| Other assets | $4,894 |
| Total assets | $75,104,972 |
| Accounts payable and accrued expenses | $2,514,360 |
| Grants payable | $0 |
| Deferred revenue | $2,000,000 |
| 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 | $37,823,962 |
| Unsecured mortgages and notes payable | $167,000 |
| Other liabilities | $2,038,825 |
| Total liabilities | $44,544,147 |
| 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 | $4,142,222 |
| Retained earnings, endowment, accumulated income, or other funds | $26,418,603 |
| Total liabilities and net assets/fund balances | $75,104,972 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Blue Earth Nicollet Faribault Cooperative Electric Association Mankato, MN | $118,260,844 | $45,959,324 |
Capital Electric Cooperative Inc Bismarck, ND | $133,692,620 | $42,124,624 |
Northern Plains Electric Cooperative Carrington, ND | $137,367,234 | $41,884,973 |
Garden Valley Telephone Company Erskine, MN | $115,867,634 | $40,536,799 |
West River Electric Association Inc Wall, SD | $136,764,788 | $38,874,089 |
District Energy St Paul Inc St Paul, MN | $133,953,246 | $38,563,375 |
Steele Waseca Cooperative Electric Owatonna, MN | $93,180,056 | $37,750,212 |
Yellowstone Valley Electric Cooperative Inc Huntley, MT | $80,881,351 | $39,379,515 |
Maquoketa Valley Rural Electric Cooperative Anamosa, IA | $145,482,750 | $38,262,856 |
Access Energy Cooperative Mt Pleasant, IA | $101,668,176 | $38,281,251 |
Consolidated Telephone Company Brainerd, MN | $86,072,377 | $35,653,081 |
Federated Rural Electric Association Jackson, MN | $74,873,988 | $36,024,282 |