West River Electric Association Inc
- Assets
- $164.3m
- Revenue
- $45.9m
- Investments
- $1.6m
- Employees
- 67
- Location
- Wall, SD
- Founding
- 04/1941
- Data as of
- 12/2023
- EIN
- 46-0204517
Organization Overview
West River Electric Association Inc is located in Wall, SD. The organization was established in 1941. 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, West River Electric Association Inc employed 67 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. West River 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 12/2023, West River Electric Association Inc generated $45.9m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 3.6% each year. All expenses for the organization totaled $45.5m during the year ending 12/2023. While expenses have increased by 3.6% per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
COOPERATIVE - ELECTRICITY TO MEMBERS
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED ELECTRIC SERVICE TO APPROXIMATELY 15,230 MEMBERS AND MAINTAINED 2,690 OF MILES. ADDED 28 MILES OF LINE AND REMOVED 26 MILES OF LINE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Andy Moon President | OfficerTrustee | 7.7 | $17,050 |
Charles Sloan Treasuere | OfficerTrustee | 13.9 | $15,200 |
Larry Eisenbraun Director | Trustee | 4.8 | $13,525 |
Jamie Lewis Secretary | OfficerTrustee | 8 | $15,200 |
Marcia M Arneson Director | Trustee | 5.7 | $15,775 |
Sue Peters Director | Trustee | 6.5 | $14,875 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Kainz Powerlines Inc Line Construction | 12/30/23 | $1,265,882 |
Rcs Construction Inc Build Substations | 12/30/23 | $406,509 |
Asplundh Tree Expert Co Tree Trimming | 12/30/23 | $238,659 |
Besler Inc Build Substations | 12/30/23 | $209,002 |
Summit Inc Contractor | 12/30/23 | $208,369 |
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 | $45,581,289 |
| Investment income | $164,583 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $36,452 |
| Net Gain/Loss on Asset Sales | $138,728 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$11,128 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $45,909,924 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $65,989 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $5,353,514 |
| Compensation of current officers, directors, key employees. | $743,370 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,398,737 |
| Pension plan accruals and contributions | $1,262,875 |
| Other employee benefits | $0 |
| Payroll taxes | $439,037 |
| 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 | $3,222,804 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,734,655 |
| Insurance | $0 |
| All other expenses | -$2,318,595 |
| Total functional expenses | $45,537,524 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,489,336 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,620,149 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $142,500 |
| Inventories for sale or use | $4,752,868 |
| Prepaid expenses and deferred charges | $129,103 |
| Net Land, buildings, and equipment | $131,559,052 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $1,607,444 |
| Investments—program-related | $20,003,711 |
| Intangible assets | $0 |
| Other assets | $31,545 |
| Total assets | $164,335,708 |
| Accounts payable and accrued expenses | $3,917,785 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $17,073 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $103,376,713 |
| Unsecured mortgages and notes payable | $1,500,000 |
| Other liabilities | $2,265,474 |
| Total liabilities | $111,077,045 |
| 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 | $53,258,663 |
| Total liabilities and net assets/fund balances | $164,335,708 |