2023-08-07T15:48:42-05:00 2022-12-31 410746749 CLIFTONLARSONALLEN LLP 2689 COMMERCE DRIVE NW SUITE 201 ROCHESTER MN 55901 990 2022-01-01 460189704 SIOUX VALLEY SOUTHWESTERN ELECTRIC COOPERATIVE INC SIOU 6055343535 PO BOX 216 COLMAN SD 570170216 GARY FISH PRESIDENT 6055343535 2023-08-04 1 GARY FISH 999009999 0 KATHERINE LUTZKE CPA P01760889 5072802300 2023-08-04 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z SIOUX VALLEY ENERGY GARY FISH PO BOX 216 COLMAN SD 570170216 101187662 0 X WWW.SIOUXVALLEYENERGY.COM X 1939 SD TO PROVIDE ELECTRICITY UTILITY TO MEMBERS OF THE COOPERATIVE. 11 11 115 0 0 0 0 0 91851633 92637236 169100 147097 3012694 6973628 95033427 99757961 0 0 6539197 8907167 944244 870608 0 0 0 87549986 89980186 95033427 99757961 0 0 299619509 326903398 198221582 218864536 101397927 108038862 SIOUX VALLEY ENERGY'S MISSION IS "SERVING OUR MEMBERS, ALWAYS". 0 0 RURAL ELECTRIC DISTRIBUTION COOPERATIVE PROVIDING 897,000 MEGAWATT HOURS OF ELECTRICITY TO 23,322 MEMBER OWNERS. 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 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 224 0 115 1 0 0 0 0 0 94838087 8540275 0 0 0 X 11 11 0 0 0 0 1 1 1 1 0 0 0 1 1 1 1 1 1 1 1 0 X X JASON MAXWELL 6052561623 PO BOX 217 COLMAN SD 57017 GARY FISH PRESIDENT 4.60 X X 17628 0 0 DAN LEUTHOLD VICE PRESIDENT 8.90 X X 11769 0 3050 DON DEGREEF SECRETARY 9.80 X X 21398 0 0 DAVE DANIEL TREASURER 4.00 X X 17378 0 0 RODNEY DEMENT DIRECTOR 12.10 X 11131 0 3600 DR LESLIE HEINEMANN DIRECTOR 5.90 X 13942 0 0 GREGG JOHNSON DIRECTOR 6.80 X 21430 0 0 MARK ROGEN DIRECTOR 7.40 X 20099 0 0 LUCAS ROSKAMP DIRECTOR 7.00 X 18238 0 0 ANN VOSTAD DIRECTOR 10.50 X 13302 0 0 ALLAN WEINACHT DIRECTOR 8.30 X 19319 0 0 TIM MCCARTHY GENERAL MANAGER/CEO 50.00 X 316334 0 152562 JASON MAXWELL CFO 46.00 X 161665 0 47763 CARRIE VUGTEVEEN DIRECTOR OF COM./GOVT. REL 46.00 X 173462 0 57541 DEBRA BIEVER DIRECTOR OF CUSTOMER & EMP 46.00 X 182916 0 117453 THEODORE SMITH DIRECTOR OF ENG & OPS 46.00 X 188032 0 89224 TIM FEY MANAGER OF CONTRACTOR RELATIONS 46.00 X 138616 0 108690 MICHELE NIELSON MANAGER ENGINEERING 42.00 X 139329 0 84748 1485988 0 664631 60 0 1 0 LEGACY POWER LINE INC PO BOX 469 WADENA MN 56482 UTILITY CONSTRUCTION 2268631 HIGHLINE CONSTRUCTION INC 16124 OLD LAKE RD PAYNESVILLE MN 56362 UTILITY CONSTRUCTION 2013885 FRIEST TREE EXPERTS 47854 273RD ST HARRISBURG SD 57032 TREE TRIMMING 1849823 MAY CONSTRUCTION PO BOX 402 MADISON SD 57042 UTILITY CONSTRUCTION 1792578 SUMMIT UTILITY SERVICES LLC PO BOX 10 ARLEE MT 59821 UTILITY CONSTRUCTION 865923 7 SALE OF POWER 221000 92637236 92637236 92637236 197491 197491 16604 0 16604 16604 16604 5060 55454 -50394 -50394 -50394 701007 1374247 -673240 -673240 CAPITAL CREDITS 221000 7630264 7630264 7630264 99757961 99594260 0 163701 8907167 870608 5953105 7719748 COST OF POWER 56807142 DIST EXP - OPERATIONS 6404715 ADMIN & GENERAL EXPENSE 5109833 DIST EXP - MAINTENANCE 3267017 4718626 99757961 2863379 2619107 5148974 5000000 10063726 11244429 7076490 9361971 792278 840006 298385639 60658324 218060012 237727315 55194098 59622779 1236 1236 419316 486555 299619509 326903398 12136132 13212448 3071432 5732806 182290212 198960636 723806 958646 198221582 218864536 X 0 0 0 0 101397927 108038862 101397927 108038862 299619509 326903398 X 0 6640935 X X 0 1 X 0 0 1 118465 116967 128479 106953 0 956317 956317 10017717 5141152 4876565 17638376 9796828 7841548 269773229 45720344 224052885 237727315 G&T PATRONAGE CAPITAL 54254589 C NRUCFC PATRONAGE CAPITAL 2099344 C PATRONAGE CAPITAL - OTHER 1413018 C NRUCFC CAPITAL TERM CERTS 1623835 C VALUE ADDED AG LOANS 2930 C ERC LOANS 114096 C OTHER PROGRAM RELATED 114967 C 59622779 CONSUMER DEPOSITS 921602 PATRONAGE CAPITAL PAYABLE 37044 958646 X 99757961 0 99757961 0 99757961 90850795 0 90850795 8907166 8907166 99757961 PART IV, LINE 1B: CUSTOMERS HAVE THE OPTION OF PARTICIPATING IN OPERATION ROUND-UP. PARTICIPATING CUSTOMERS ROUND THEIR BILLS UP TO THE NEAREST DOLLAR AND THE DIFFERENCE IS CONTRIBUTED TO THE SIOUX VALLEY ENERGY CUSTOMERS' TRUST, WITH THE FUNDS BEING UTILIZED FOR CHARITABLE GIVING. PART X, LINE 2: THE COOPERATIVE HAS BEEN GRANTED TAX EXEMPT STATUS UNDER SECTION 501(C)(12) OF THE INTERNAL REVENUE CODE. THE COOPERATIVE EVALUATED ITS TAX POSITIONS AND DETERMINED THAT IT HAS NO UNCERTAIN TAX POSITIONS AS OF DECEMBER 31, 2022 AND 2021. PART XII, LINE 4B - OTHER ADJUSTMENTS: PATRONAGE ALLOCATED TO MEMBERS 8,907,167. ROUNDING -1. 1 X X 0 0 0 TIM MCCARTHY GENERAL MANAGER/CEO 316334 0 0 0 0 0 130273 0 22289 0 468896 0 0 0 DEBRA BIEVER DIRECTOR OF CUSTOMER & EMP 182916 0 0 0 0 0 95304 0 22149 0 300369 0 0 0 THEODORE SMITH DIRECTOR OF ENG & OPS 188032 0 0 0 0 0 72688 0 16536 0 277256 0 0 0 TIM FEY MANAGER OF CONTRACTOR RELATIONS 138616 0 0 0 0 0 92478 0 16212 0 247306 0 0 0 CARRIE VUGTEVEEN DIRECTOR OF COM./GOVT. REL 173462 0 0 0 0 0 47969 0 9572 0 231003 0 0 0 MICHELE NIELSON MANAGER ENGINEERING 139329 0 0 0 0 0 62922 0 21826 0 224077 0 0 0 JASON MAXWELL CFO 161665 0 0 0 0 0 31979 0 15784 0 209428 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 EACH ELECTRIC ACCOUNT IS A MEMBER. FORM 990, PART VI, SECTION A, LINE 7A COOPERATIVE IS BROKEN INTO 10 DISTRICTS. 9 DISTRICTS HAVE ONE DIRECTOR. 1 DISTRICT HAS TWO DIRECTORS. MEMBERS CAN VOTE FOR THE DIRECTOR FROM THE DISTRICT IN WHICH THE MEMBER IS LOCATED. FORM 990, PART VI, SECTION A, LINE 7B CHANGES TO THE COOPERATIVE BY-LAWS ARE VOTED ON AT THE ANNUAL MEETING IN WHICH EACH MEMBER HAS THE RIGHT TO VOTE. 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 THE FORM 990 WILL BE PROVIDED TO ALL MEMBERS OF THE BOARD OF DIRECTORS AT A MEETING PRIOR TO THE FILING. EACH BOARD MEMBER WILL HAVE THE OPPORTUNITY TO REVIEW THE RETURN AT THAT TIME. THE RETURN WILL ALSO BE REVIEWED BY THE CFO PRIOR TO FILING OF THE RETURN. FORM 990, PART VI, SECTION B, LINE 12C ALL EMPLOYEES, DIRECTORS, THE GENERAL MANAGER/CEO, THE MANAGEMENT STAFF, AND THE ATTORNEY MUST BE FAMILIAR WITH THE CONFLICT OF INTEREST POLICY. EACH IS REQUIRED TO EXECUTE A CONFLICT OF INTERST STATEMENT THAT THEY ARE IN COMPLIANCE WITH THE POLICY. ANNUALLY THE DIRECTORS, GENERAL MANAGER/CEO, ATTORNEY AND MANAGEMENT STAFF EXECUTE A NEW STATEMENT. EMPLOYEES EXECUTE ONE AT A TIME OF EMPLOYMENT AND UPDATE WHEN A CONFLICT ARISES. IF A CONFLICT OF INTEREST EXISTS, THEN THE EMPLOYEE AND SUPERVISOR IN COORDINATION WITH MANAGEMENT SHALL COLLECTIVELY DETERMINE WHAT ACTION SHOULD BE TAKEN. IF A DIRECTOR HAS A CONFLICT OF INTEREST HE/SHE SHALL DISQUALIFY THEMSELVES FROM DECISIONS THAT POSE THE CONFLICT OR THE APPEARANCE OF A CONFLICT OF INTEREST. THE DIRECTOR MAY REQUEST AN OPINION OF THE COOPERATIVE ATTORNEY BEFORE SUCH ACTION IS TAKEN. FORM 990, PART VI, SECTION B, LINE 15 SIOUX VALLEY ENERGY USES A NATIONAL COMPENSATION SURVEY PROVIDED TO US BY OUR NATIONAL ASSOCIATION, NRECA. THE NATIONAL AVERAGE PAY IS USED AS A GUIDANCE FOR ESTABLISHING INITIAL SALARIES AND YEARLY SALARY CHANGES. YEARS OF EXPERIENCE IN A POSITION ARE ALSO FACTORED IN. USING THE SURVEY DATA HELPS TO ESURE SALARIES REMAIN COMPETITIVE WITH THOSE OFFERED AT OTHER RURAL ELECTRIC COOPERATIVES AND THAT THE DATA REMAINS CONSISTENT FROM YEAR TO YEAR. THIS PROCESS IS USED FOR ALL POSITIONS AT SIOUX VALLEY ENERGY ON AN ANNUAL BASIS. THE LAST YEAR THIS PROCESS WAS UNDERTAKEN WAS 2022. ALL DECISIONS ARE DOCUMENTED WITHIN THE EMPLOYEE PERSONNEL FILE. FORM 990, PART VI, SECTION C, LINE 19 THE COOPERATIVE MAKES ITS GOVERNING DOCUMMENTS AND FINACIAL STATEMENTS AVAILABLE TO THE COOPERATIVE MEMBERS UPON REQUEST. FORM 990, PART XI, LINE 9: RETIREMENT OF CAPITAL CREDITS -2,266,232. PATRONAGE DIVIDENDS PAID 8,907,167. FORM 990, PART XII, LINE 23: THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. FORM 990, PART IX, LINE 4: THE IRS INSTRUCTIONS STATE THAT PATRONAGE DIVIDENDS PAID BY SECTION 501(C)(12) ORGANIZATIONS TO THEIR MEMBERS SHOULD BE REPORTED ON LINE 4. THE ORGANIZATION HAS INTERPRETED PATRONAGE DIVIDENDS PAID TO MEAN PATRONAGE DIVIDENDS ALLOCATED OR TO BE ALLOCATED FOR THE CURRENT YEAR. SINCE THIS ALLOCATION IS NOT AN EXPENSE UNDER GENERALLY ACCEPTED ACCOUNTING PRINCIPLES (GAAP), THIS HAS RESULTED IN A RECONCILING ITEM TO NET ASSETS IN PART XI, ON PAGE 12 OF THE FORM 990.