Lake Region Electric Association Inc

Organization Overview

Lake Region Electric Association Inc is located in Webster, SD. The organization was established in 1965. 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, Lake Region Electric Association Inc employed 23 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lake Region Electric Association 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, Lake Region Electric Association Inc generated $19.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.0% each year. All expenses for the organization totaled $19.7m during the year ending 12/2021. While expenses have increased by 4.0% 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

PROVIDE THE HIGHEST QUALITY SERVICES AND PRODUCTS WHILE MAINTAINING COMPETITIVE RATES.

Describe the Organization's Program Activity:

Part 3 - Line 4a

PROVIDED ELECTRIC SERVICE TO APPROXIMATELY 2,610 MEMBERS.


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Board, Officers & Key Employees

Name (title)Compensation
Tim Mcintyre
General Manager
$158,689
Andrea Kilker
Director
$6,300
Amy Kuecker
Director
$6,000
Rodney Tobin
Vice President
$5,700
Roger Kulesa
Treasurer
$4,800
Thomas Steiner
Secretary
$4,800

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Karian Peterson
Storm Job Construction Co
$178,825
K&h Electric
Cable Plower
$140,516
View All Vendors

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$19,779,487
Investment income $26,785
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $41,010
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $13,058
Miscellaneous Revenue$0
Total Revenue $19,860,340

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