Dakota Energy Cooperative Inc
- Assets
- $62.9m
- Revenue
- $27.7m
- Investments
- $0.0
- Employees
- 28
- Location
- Huron, SD
- Founding
- 09/1995
- Data as of
- 12/2023
- EIN
- 46-0434317
Organization Overview
Dakota Energy Cooperative Inc is located in Huron, SD. The organization was established in 1995. 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, Dakota Energy Cooperative Inc employed 28 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Dakota Energy 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 12/2023, Dakota Energy Cooperative Inc generated $27.7m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 3.5% each year. All expenses for the organization totaled $25.3m during the year ending 12/2023. While expenses have increased by 2.5% 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
SERVICE FOR YOUR WAY OF LIFE
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED ELECTRIC SERVICE TO APPROXIMATELY 2280 MEMBERS. WE ADDED 20 MILES OF UNDERGROUND AND REMOVED 11 MILES OF OVERHEAD LINE AND BUILT 35 NEW SERVICES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Chad Felderman General Mana | Officer | 40 | $161,033 |
Mike Moncur Manager Of F | 40 | $128,577 | |
Matt Zomer Manager Of O | 40 | $101,083 | |
Chase Binger Director | Trustee | 22.2 | $10,907 |
Nick Nemec Vice Preside | OfficerTrustee | 3.8 | $10,832 |
Darrell Rascke President | OfficerTrustee | 11.9 | $10,438 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Larson Digging Inc Construction | 12/30/23 | $249,416 |
Premier Equipment Construction | 12/30/23 | $105,081 |
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 | $27,308,850 |
| Investment income | $14,600 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $336,191 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $27,659,641 |
| 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 | $673,271 |
| Compensation of current officers, directors, key employees. | $329,286 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,077,809 |
| Pension plan accruals and contributions | $627,506 |
| Other employee benefits | $518,501 |
| Payroll taxes | $162,096 |
| 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 | $1,263,572 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,985,078 |
| Insurance | $0 |
| All other expenses | -$3,715,198 |
| Total functional expenses | $25,334,957 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,253,026 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,578,775 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $549,964 |
| Inventories for sale or use | $1,310,995 |
| Prepaid expenses and deferred charges | $862,144 |
| Net Land, buildings, and equipment | $39,325,525 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $16,989,951 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $62,870,380 |
| Accounts payable and accrued expenses | $2,493,622 |
| 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 | $31,194,142 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $3,032,353 |
| Total liabilities | $36,720,117 |
| 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 | $26,150,263 |
| Total liabilities and net assets/fund balances | $62,870,380 |