West Central Electric Cooperative Incorporated
- Assets
- $58.0m
- Revenue
- $18.1m
- Investments
- $0.0
- Employees
- 34
- Location
- Murdo, SD
- Founding
- 06/1953
- Data as of
- 12/2023
- EIN
- 46-0225950
Organization Overview
West Central Electric Cooperative Incorporated is located in Murdo, SD. The organization was established in 1953. 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 Central Electric Cooperative Incorporated employed 34 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. West Central Electric Cooperative Incorporated 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 Central Electric Cooperative Incorporated generated $18.1m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 2.3% each year. All expenses for the organization totaled $17.6m during the year ending 12/2023. While expenses have increased by 2.1% 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
TO PROVIDE ELECTRICITY TO RURAL AREAS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED ELECTRIC SERVICE TO APPROXIMATELY 3,697 MEMBERS, SERVING 3,966.40 MILES OF LINE, ADDED 0.80 MILES OF LINE, AND REMOVED 56.54 MILES OF LINE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Shad Riggle President | OfficerTrustee | 6 | $13,500 |
Kenneth Miller Vice President | OfficerTrustee | 5 | $18,750 |
Marty Hansen Secretary/treasurer | OfficerTrustee | 7 | $16,760 |
Richard Bendt Director | Trustee | 5 | $14,200 |
Mike Mcquistion Director | Trustee | 4 | $11,750 |
Kevin Neuhauser Director | Trustee | 6 | $16,300 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Keller Construction Llc Transmission Line Repairs | 12/30/22 | $566,687 |
Kainz Powerlines Inc Transmission Line Repairs | 12/30/22 | $156,449 |
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 | $17,650,190 |
| Investment income | $467,876 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$22,360 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$21,450 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $18,074,256 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $21,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $1,026,844 |
| Compensation of current officers, directors, key employees. | $442,623 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,630,029 |
| Pension plan accruals and contributions | $580,106 |
| Other employee benefits | $0 |
| Payroll taxes | $214,026 |
| 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 | $989,431 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,726,180 |
| Insurance | $0 |
| All other expenses | -$1,388,142 |
| Total functional expenses | $17,609,363 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $696,180 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,575,633 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $111,550 |
| Inventories for sale or use | $2,533,872 |
| Prepaid expenses and deferred charges | $78,400 |
| Net Land, buildings, and equipment | $36,118,710 |
| Investments—publicly traded securities | $6,154,684 |
| Investments—other securities | $0 |
| Investments—program-related | $9,297,349 |
| Intangible assets | $0 |
| Other assets | $1,395,094 |
| Total assets | $57,961,472 |
| Accounts payable and accrued expenses | $1,465,100 |
| 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 | $31,011,211 |
| Unsecured mortgages and notes payable | $345,310 |
| Other liabilities | $1,969,491 |
| Total liabilities | $34,791,112 |
| 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 | $23,170,360 |
| Total liabilities and net assets/fund balances | $57,961,472 |