Butte Electric Cooperative Inc
- Assets
- $66.0m
- Revenue
- $8.5m
- Investments
- $0.0
- Employees
- 27
- Location
- Newell, SD
- Founding
- 03/1942
- Data as of
- 12/2021
- EIN
- 46-0115942
Organization Overview
Butte Electric Cooperative Inc is located in Newell, SD. The organization was established in 1942. 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, Butte Electric Cooperative Inc employed 27 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Butte 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, Butte Electric Cooperative Inc generated $8.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.6% each year. All expenses for the organization totaled $7.3m during the year ending 12/2021. While expenses have increased by 2.0% 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
THE MISSION OF BUTTE ELECTRIC COOPERATIVE IS TO CONTINUALLY IMPROVE CUSTOMER SERVICES; PROVIDE SAFE, RELIABLE, AND COMPETITIVELY PRICED ELECTRICITY; AND CONTINUE TO LEAD IN DEVELOPING OUR COMMUNITIES FOR THE BENEFIT OF OUR MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SALE OF ELECTRICITY TO APPROXIMATELY 6,597 CONSUMER ACCOUNTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Lee CEO / Gen Ma | Officer | 40 | $155,178 |
Brett Fosheim Operations M | 40 | $118,116 | |
Cris Miller President | OfficerTrustee | 4 | $8,837 |
Steve Smeenk Director | Trustee | 4 | $8,397 |
Dan Marrs Vice-Preside | OfficerTrustee | 4 | $7,929 |
Dan Hefner Asst Secreta | OfficerTrustee | 4 | $7,658 |
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 | $320,677 |
| Investment income | $57,314 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $58,756 |
| Net Gain/Loss on Asset Sales | $9,950 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $7,798,796 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,524,779 |
| 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 | $459,296 |
| Compensation of current officers, directors, key employees. | $284,242 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $951,733 |
| Pension plan accruals and contributions | $384,926 |
| Other employee benefits | $208,397 |
| Payroll taxes | $84,233 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $14,719 |
| Fees for services: Accounting | $29,044 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $290,226 |
| Advertising and promotion | $53,985 |
| Office expenses | $269,773 |
| Information technology | $142,226 |
| Royalties | $0 |
| Occupancy | $272,687 |
| Travel | $269,261 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $14,239 |
| Interest | $1,286,530 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,047,221 |
| Insurance | $2,091 |
| All other expenses | $0 |
| Total functional expenses | $7,282,778 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $456,867 |
| Savings and temporary cash investments | $4,074,129 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,168,928 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,010,778 |
| Prepaid expenses and deferred charges | $199,642 |
| Net Land, buildings, and equipment | $51,510,407 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $7,628,490 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $66,049,241 |
| Accounts payable and accrued expenses | $923,897 |
| Grants payable | $0 |
| Deferred revenue | $782,233 |
| 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 | $40,573,462 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $949,363 |
| Total liabilities | $43,228,955 |
| 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 | $662,972 |
| Retained earnings, endowment, accumulated income, or other funds | $22,157,314 |
| Total liabilities and net assets/fund balances | $66,049,241 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Lake Region Electric Association Inc Webster, SD | $46,798,980 | $19,860,340 |
Black Hills Electric Cooperative Inc Custer, SD | $75,104,972 | $23,022,656 |
Roseau Electric Cooperative Inc Roseau, MN | $41,619,663 | $19,513,008 |
Hill County Electric Cooperative Inc Havre, MT | $40,815,029 | $18,033,515 |
Lewis And Clark Rural Water System Inc Tea, SD | $426,307,061 | $39,792,007 |
West Central Electric Cooperative Incorporated Murdo, SD | $53,451,686 | $18,722,038 |
Midwest Reliability Organization Inc St Paul, MN | $14,721,870 | $17,505,130 |
Rathbun Regional Water Association Inc Centerville, IA | $143,535,509 | $19,524,917 |
Ravalli County Electric Cooperative Inc Victor, MT | $44,767,170 | $17,487,477 |
Wheatland Rural Electric Association Wheatland, WY | $32,258,120 | $17,112,530 |
T I P Rural Electric Cooperative Brooklyn, IA | $57,344,467 | $17,059,790 |
Nishnabotna Valley Rural Electric Cooperative Harlan, IA | $46,708,124 | $17,798,413 |