2026-07-21T15:53:19-05:00 2025-12-31 450250958 EIDE BAILLY LLP 345 N REID PL STE 400 SIOUX FALLS SD 571037034 990 2025-01-01 460204517 WEST RIVER ELECTRIC ASSN INC WEST 6052792135 PO BOX 412 WALL SD 57790 ROBERT RAKER CEO/GENERAL MANAGER 6052792135 2026-07-07 1 LAURIE HANSON CPA P00851848 6053391999 2026-07-07 2025 2025-03-06 01:10:19Z ROBERT RAKER PO BOX 412 WALL SD 57790 52658285 0 X WWW.WESTRIVER.COOP X 1939 SD COOPERATIVE - ELECTRICITY TO MEMBERS 9 9 62 0 35930 30850 0 0 48647733 51344718 210353 278389 98655 -9669 48956741 51613438 67479 60260 4588130 2340657 8552657 8919331 0 0 0 35393420 39984397 48601686 51304645 355055 308793 179291218 183376951 122031313 124415069 57259905 58961882 TO SERVE OUR MEMBERS BEST INTERESTS. 0 0 PROVIDED ELECTRIC SERVICE TO APPROXIMATELY 15,939 MEMBERS AND MAINTAINED 2,680.94 MILES OF LINE. ADDED 60.82 MILES OF LINE AND REMOVED 82.87 MILES OF LINE. 0 0 0 0 0 0 0 1 0 1 0 1 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 1 203 0 1 62 1 1 1 0 0 0 0 51800863 1363420 0 0 0 X 9 9 0 0 0 0 1 1 1 1 0 0 0 1 1 1 1 1 1 1 1 0 X DAWN HILGENKAMP 6052792135 PO BOX 412 WALL SD 57790 X ANDY MOON PRESIDENT 6.40 X X 17485 0 10 STAN ANDERS VICE-PRESIDENT 10.50 X X 17781 0 10 JAMIE LEWIS SECRETARY 6.00 X X 6217 0 10 CHARLES SLOAN TREASURER 11.50 X X 18499 0 10 LARRY EISENBRAUN DIRECTOR UNTIL 08/2025 4.70 X 8452 0 4 MARCIA ARNESON DIRECTOR UNTIL 10/2025 8.40 X 13453 0 8 SUE PETERS DIRECTOR 8.00 X 22207 0 10 PETER BLAKE DIRECTOR 6.00 X 17174 0 10 JASON HABROCK DIRECTOR FROM 10/2025 4.00 X 3822 0 2 STEVEN EDOFF DIRECTOR 8.20 X 22083 0 10 TARAN EISENBRAUN DIRECTOR FROM 09/2025 4.90 X 5507 0 2 ROBERT RAKER CEO / GENERAL MANAGER 60.00 X 260311 0 106064 DAWN HILGENKAMP CFO / MANAGER OF FINANCE 50.00 X 167291 0 141092 MIKE LETCHER OPERATIONS MANAGER 50.00 X 179600 0 72878 MATTHEW SCHMAHL BUSINESS DEVELOPMENT MANAGER 50.00 X 146756 0 149145 JENNIFER PATTERSON OFFICE MANAGER 50.00 X 149138 0 74942 LANCE STEIGER STAKING FOREMAN 50.00 X 145419 0 71374 BRENDAN NELSON OPERATIONS SUPERINTENDENT 50.00 X 144630 0 137615 1345825 0 753196 36 0 1 0 KAINZ POWERLINES INC PO BOX 748 CUSTER SD 57730 LINE CONSTRUCTION 1274868 IRON HORSE EXCAVATING PO BOX 9010 RAPID CITY SD 57709 EXCAVATING 750084 ASPLUNDH TREE EXPERT CO 708 BLAIR MILL ROAD WILLOW GROVE PA 19090 TREE TRIMMING 271383 EPC SERVICES COMPANY 1241 SOUTH 31ST STREET WEST BILLINGS MT 59102 TRANSFORMER MAINTENANCE 151746 DAKOTA PLAINS FENCING 27362 MEMORIAL ROAD HOT SPRINGS SD 57747 BUILD FENCE 118051 5 SALE OF POWER 221000 49633003 49633003 G&T CAPITAL CREDITS 221000 1435201 1435201 OTHER OPERATING REVENUE 221000 276514 276514 51344718 170941 170941 170704 134774 35930 35930 35930 116819 9371 107448 107448 107448 855103 900702 -45599 -45599 51613438 51299119 35930 278389 X 60260 2340657 746753 6139298 1535807 497473 3953391 5600149 UBI TAXES 17546 COST OF POWER 26000731 DISTRIBUTION - OPERATIO 3687972 CUSTOMER ACCOUNTS 1726220 -1001612 51304645 3099583 1241834 5274725 5783628 52500 6150897 5738857 211693 225677 206337546 58020365 143012081 148317181 625444 644977 20845990 21388332 18305 36465 179291218 183376951 4240126 5002543 17843 17477 116378447 117032589 1394897 2362460 122031313 124415069 X 0 0 0 0 57259905 58961882 57259905 58961882 179291218 183376951 X 308793 1393184 X 0 1 X 1 0 0 1 X 890221 890221 16239981 6682712 9557269 22238483 7037402 15201081 166968861 44300251 122668610 148317181 RUSHMORE ELECTRIC POWER COOPERATIVE, INC. 18793991 C NATIONAL RURAL UTILITIES COOPERATIVE FINANCE CORPORATION 1301127 C FEDERATED RURAL ELECTRIC INSURANCE 380011 C RURAL ELECTRIC SUPPLY COOPERATIVE 606894 C GOLDEN WEST TELECOMMUNICATIONS COOPERATIVE 129799 C NATIONAL INFORMATION SOLUTIONS COOPERATIVE 163119 C OTHER MEMBERSHIPS 13391 C 21388332 CUSTOMER DEPOSITS 458621 DEFERRED CREDITS 1423765 LEASE LIABILITY 28442 POSTRETIREMENT BENEFITS 451632 2362460 X 51635965 22527 22527 51613438 0 51613438 48986515 40072 40072 48946443 2358202 2358202 51304645 PART IV, LINE 2B: THE COOPERATIVE COLLECTS MONEY FROM MEMBERS FOR THE WEST RIVER CHARITABLE TRUST INC. THE TRUST HAS A SEPARATE BOARD OF DIRECTORS THAT IS RESPONSIBLE FOR DISTRIBUTING THE FUNDS. PART X, LINE 2: THE ASSOCIATION BELIEVES IT HAS APPROPRIATE SUPPORT FOR ANY TAX POSITIONS TAKEN AFFECTING ITS ANNUAL FILING REQUIREMENTS, AND AS SUCH, DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS THAT ARE MATERIAL TO THE FINANCIAL STATEMENTS. THE ASSOCIATION WOULD RECOGNIZE FUTURE ACCRUED INTEREST AND PENALTIES RELATED TO THE UNRECOGNIZED TAX BENEFITS IN INCOME TAX EXPENSE IF SUCH INTEREST AND PENALTIES ARE INCURRED. PART XI, LINE 2D - OTHER ADJUSTMENTS: RECLASSIFICATION OF TAXES -17,545. OTHER RENTAL EXPENSES 40,072. PART XII, LINE 2D - OTHER ADJUSTMENTS: OTHER RENTAL EXPENSES 40,072. PART XII, LINE 4B - OTHER ADJUSTMENTS: ALLOCATION OF 2025 MARGINS TO MEMBERS IN 2026 2,340,657. RECLASSIFICATION OF TAXES 17,545. 1 SD ELLSWORTH DEVELOPMENT PO BOX 477 RAPID CITY SD 57709 271166754 10000 0 SPONSORSHIP WESTERN LEGACY 444 MT RUSHMORE RD N RAPID CITY SD 57701 460441565 501(C)(3) 5750 0 SPONSORSHIP 1 1 PART I, LINE 2: OUR BOARD OF DIRECTORS WILL APPROVE ALL GRANTS/SPONSORSHIPS BEFORE THEY ARE MADE. ONCE THEY ARE MADE, WE FOLLOW UP WITH THE EVENT TO MAKE SURE THE FUNDS ARE BEING USED AS INTENDED AND OUR SPONSORSHIP IS RECOGNIZED FOR THAT EVENT. X X X 0 0 0 ROBERT RAKER CEO / GENERAL MANAGER 259811 0 500 0 0 0 74516 0 32492 0 367319 0 0 0 DAWN HILGENKAMP CFO / MANAGER OF FINANCE 166591 0 500 0 200 0 107393 0 34702 0 309386 0 0 0 MATTHEW SCHMAHL BUSINESS DEVELOPMENT MANAGER 146056 0 500 0 200 0 115938 0 34062 0 296756 0 0 0 BRENDAN NELSON OPERATIONS SUPERINTENDENT 143930 0 500 0 200 0 106156 0 32315 0 283101 0 0 0 MIKE LETCHER OPERATIONS MANAGER 178900 0 500 0 200 0 44921 0 29032 0 253553 0 0 0 JENNIFER PATTERSON OFFICE MANAGER 148438 0 500 0 200 0 47388 0 28434 0 224960 0 0 0 LANCE STEIGER STAKING FOREMAN 144919 0 500 0 0 0 40224 0 31806 0 217449 0 0 0 SCHEDULE J, PART II, COLUMN C COLUMN C INCLUDES THE CHANGE IN ACTUARIAL VALUE IN THE DEFINED BENEFIT PLAN FOR EACH PERSON REQUIRED TO BE REPORTED. ACTUAL EXPENSE OF THE COOPERATIVE MAY BE MORE OR LESS THAN THE CHANGE IN THE ACTUARIAL VALUE. CHANGE IN ACTUARIAL VALUE (INCLUDED IN COLUMN C): DAWN HILGENKAMP $98,627 MIKE LETCHER $31,984 BRENDAN NELSON $98,599 JENNIFER PATTERSON $39,767 LANCE STEIGER $34,403 ROBERT RAKER $61,348 MATTHEW SCHMAHL $108,312 ACTUAL EXPENSE OF THE COOPERATIVE: DAWN HILGENKAMP $39,723 MIKE LETCHER $34,705 BRENDAN NELSON $33,923 JENNIFER PATTERSON $34,852 LANCE STEIGER $25,818 ROBERT RAKER $37,536 MATTHEW SCHMAHL $33,923 FORM 990, PART VI, SECTION A, LINE 6 1 CLASS OF MEMBERS. ALL COOPERATIVE MEMBERS WITH EQUAL VOTING RIGHTS. FORM 990, PART VI, SECTION A, LINE 7A ALL MEMBERS HAVE EQUAL VOTING RIGHTS TO VOTE FOR MEMBERS OF THE BOARD. FORM 990, PART VI, SECTION A, LINE 7B BYLAWS AND ARTICLES OF INCORPORATION CHANGES MUST BE APPROVED BY THE MEMBERSHIP. FORM 990, PART VI, SECTION A, LINE 8B THERE ARE NO COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B REVIEW WILL BE DONE AT THE REGULAR BOARD MEETING PRIOR TO SIGNING THE FINAL FORM. THE GENERAL MANAGER AND DIRECTOR OF FINANCE WILL REVIEW THE FORM 990 WITH THE BOARD. FORM 990, PART VI, SECTION B, LINE 12C ALL DIRECTORS AND EMPLOYEES ARE COVERED UNDER THE CONFLICT OF INTEREST POLICY. THE BOARD OF DIRECTORS IS RESPONSIBLE FOR THE DETERMINATION OF WHETHER A CONFLICT EXISTS, AND FOR REVIEW OF POTENTIAL CONFLICTS. BOARD MEMBERS WITH CONFLICTS OF INTEREST MUST ABSTAIN FROM DISCUSSION AND VOTING ON THE ITEM. DIRECTORS ARE ASKED ANNUALLY TO DOCUMENT ANY CONFLICTS THEY MAY HAVE. FORM 990, PART VI, SECTION B, LINE 15 AN INDEPENDENT CONSULTANT, UTILIZING NATIONAL AND REGIONAL WAGE INFORMATION FOR EACH POSITION WITHIN THE COOPERATIVE, PROVIDES A RECOMMENDATION FOR COMPENSATION TO THE BOARD OF DIRECTORS. THE BOARD REVIEWS THE RECOMMENDATIONS AND PROVIDES FINAL APPROVAL. THE PROCESS IS COMPLETED ON AN ANNUAL BASIS. FORM 990, PART VI, SECTION C, LINE 19 AVAILABLE UPON REQUEST AND ON OUR WEBSITE. FORM 990, PART VII, COLUMN F, OTHER COMPENSATION: INCLUDED IN OTHER COMPENSATION IS THE ESTIMATED CURRENT YEAR INCREASE OR DECREASE IN THE ACTUARIAL VALUE OF THE DEFINED BENEFIT PLAN FOR THE CEO/GENERAL MANAGER, CFO/MANAGER OF FINANCE, MANAGER OF OPERATIONS, MARKETING MANAGER, OFFICE SERVICES MANAGER, STAKING FOREMAN AND CONSTRUCTION PROJECT MANAGER. THE CURRENT YEAR INCREASE OR DECREASE DOES NOT REPRESENT CURRENT YEAR CONTRIBUTIONS TO THE PLAN. RATHER, IT IS AN ESTIMATE OF THE INCREASE OR DECREASE IN THE ACTUARIAL VALUE OF THE PLAN AS CALCULATED BY THE PLAN ADMINISTRATOR. FORM 990, PART IX, LINE 24E STATEMENT OF FUNCTIONAL EXPENSES: THE LABOR, PENSION AND PAYROLL TAXES REPORTED ON LINES 5-10 ARE INCLUDED IN DISTRIBUTION EXPENSE, ADMINISTRATIVE & GENERAL EXPENSE AND CUSTOMER EXPENSE. THEREFORE, LABOR, PENSION AND PAYROLL TAXES ARE SHOWN AS A REDUCTION TO OTHER EXPENSES ON LINE 24E. FORM 990, PART IX, LINE 4, BENEFITS PAID TO OR FOR MEMBERS: THE COOPERATIVE HAS INTERPRETED THE INSTRUCTIONS TO PART IX, LINE 4, TO MEAN PATRONAGE CAPITAL ALLOCATED FOR THE YEAR, RATHER THAN PATRONAGE CAPITAL RETIRED. THIS IS CONSISTENT WITH THE BY-LAWS OF THE COOPERATIVE. FORM 990, PART XI, LINE 9: ALLOCATION OF 2025 MARGINS TO MEMBERS IN 2026 2,340,657. RETIREMENT OF CAPITAL CREDITS -947,473. WEST RIVER ELECTRIC CHARITABLE TRUST INC PO BOX 412 WALL SD 57790 460454370 CHARITABLE SD 501(C)(3) LINE 7 WEST RIVER ELECTRIC ASSOCIATION INC 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 1 0