H-D Electric Cooperative Inc
- Assets
- $45.7m
- Revenue
- $13.9m
- Investments
- $2.5m
- Employees
- 23
- Location
- Clear Lake, SD
- Founding
- 03/1949
- Data as of
- 12/2022
- EIN
- 46-0212565
Organization Overview
H-D Electric Cooperative Inc is located in Clear Lake, SD. The organization was established in 1949. 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 12/2022, H-D Electric Cooperative Inc employed 23 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. H-D 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 12/2022, H-D Electric Cooperative Inc generated $13.9m in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 3.4% each year. All expenses for the organization totaled $13.9m during the year ending 12/2022. While expenses have increased by 3.4% per year over the past 4 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE SAFE RELIABLE HIGH QUALITY ELECTRIC SERVICE AT THE BEST VALUE POSSIBLE TO OUR MEMBERS
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED ELECTRIC SERVICE TO APPROXIMATELY 2,924 MEMBERS. CONNECTED 45 NEW SERVICES. CONSTRUCTED, RETIRED AND MAINTAINED OVERHEAD & UNDERGROUND ELECTRIC LINES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Matthew Hotzler General Manager | Officer | 48 | $166,969 |
Troy Kwasniewski Operations Manager | 42 | $124,842 | |
Annette Aberle Finance Admin Mgr | Officer | 41 | $106,620 |
Dale Williams Board Director | Trustee | 7 | $8,865 |
Kevin Deboer Board Director | Trustee | 4 | $5,365 |
Steven Hansen Board Treasurer | Trustee | 5 | $7,365 |
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 | $13,788,225 |
| Investment income | $73,803 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $9,321 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $64,298 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $13,935,647 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $1,500 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $1,692,660 |
| Compensation of current officers, directors, key employees. | $481,046 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $535,322 |
| Pension plan accruals and contributions | $379,383 |
| Other employee benefits | $396,397 |
| Payroll taxes | $140,512 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $9,715 |
| Fees for services: Accounting | $16,459 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $68,354 |
| Advertising and promotion | $13,769 |
| Office expenses | $75,557 |
| Information technology | $104,902 |
| Royalties | $0 |
| Occupancy | $1,732 |
| Travel | $242,689 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $735,365 |
| Payments to affiliates | $58,598 |
| Depreciation, depletion, and amortization | $1,331,005 |
| Insurance | $0 |
| All other expenses | $96,958 |
| Total functional expenses | $13,935,647 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $27,081 |
| Savings and temporary cash investments | $1,470,373 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,354,042 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,810,851 |
| Prepaid expenses and deferred charges | $594,633 |
| Net Land, buildings, and equipment | $29,414,719 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $2,520,078 |
| Investments—program-related | $8,508,196 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $45,699,973 |
| Accounts payable and accrued expenses | $1,381,217 |
| 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 | $27,122,362 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,870,205 |
| Total liabilities | $31,373,784 |
| 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 | $938,540 |
| Retained earnings, endowment, accumulated income, or other funds | $13,387,649 |
| Total liabilities and net assets/fund balances | $45,699,973 |