2023-07-31T15:05:59-05:00 2022-12-31 450250958 EIDE BAILLY LLP 200 E 10TH ST STE 500 SIOUX FALLS SD 571046375 990 2022-01-01 460454373 SOUTHEASTERN ELECTRIC COOPERATIVE INC SOUT 6056483619 PO BOX 388 MARION SD 570430388 JON WUNDER CFO 6056483619 2023-07-31 1 JON WUNDER XXX-XX-XXXX 1 LAURIE HANSON CPA P00851848 6053391999 2023-07-31 3 AAL1 IAL1 2022 2023-04-26 12:10:37Z BRAD SCHARDIN PO BOX 388 MARION SD 570430388 77784161 0 X WWW.SOUTHEASTERNELECTRIC.COM X 2000 SD PROVIDING ELECTRIC SERVICE TO MEMBER-CONSUMERS. 8 8 68 0 0 0 0 0 71527908 76658573 84256 279701 3619 -25931 71615783 76912343 43290 49502 5669937 10878610 6733911 7359570 0 0 0 59168645 58624661 71615783 76912343 0 0 202199401 223506079 127879625 140910169 74319776 82595910 MEMBER FOCUSED. MEMBER DRIVEN. AS A NON-PROFIT ELECTRIC COOPERATIVE, WE ARE HERE TO SERVE THE MEMBERS OF THE COOPERATIVE WITH RELIABLE, QUALITY AND AFFORDABLE ELECTRIC SERVICE AND TO DO THAT WE ARE FOCUSED ON THEIR NEEDS AND DESIRES. 0 0 PROVIDING ELECTRIC SERVICE TO APPROXIMATELY 18,000 MEMBER-CONSUMERS OVER 4,480 MILES OF LINE. 0 0 0 0 0 0 0 0 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 0 0 0 1 339 0 1 68 1 0 0 0 0 0 0 0 72145524 1969086 0 0 0 X 8 8 0 0 1 0 1 1 1 1 0 0 0 1 1 1 1 1 1 1 1 0 X JON WUNDER 8003332859 501 S BROADWAY AVE MARION SD 57043 DON HEEREN PRESIDENT 6.90 X X 13807 0 0 STEVE HOLMBERG VICE PRESIDENT 5.50 X X 13157 0 0 DARYL TERVEEN TREASURER 4.90 X X 12432 0 0 JOHNATHAN WILDEBOER SECRETARY 4.60 X X 11882 0 0 CHRIS HOFER DIRECTOR 2.80 X 9207 0 0 CARLOS HOFER DIRECTOR 8.50 X 17832 0 0 ROBERT WOLLMANN DIRECTOR 9.20 X 17532 0 0 JOHN OSTRAAT DIRECTOR 4.80 X X 11032 0 0 RON ANDERSON DIRECTOR (END 01/2022) 6.60 X 0 0 0 BRAD SCHARDIN CEO/GENERAL MANAGER 40.00 X 259266 0 38705 JON WUNDER CFO/ASSISTANT MANAGER 40.00 X 141069 0 54866 JOHN EUCHNER MANAGER OF OPERATING AND ENGINEERING 40.00 X 172225 0 105960 TODD NELSON MEMBER SERVICES & IT MANAGER 40.00 X 157571 0 51087 TROY PETERS LINE SUPERINTENDENT 40.00 X 131280 0 134300 BOB SCHRAG LINE SUPERINTENDENT 40.00 X 129253 0 41158 ADAM STARK LINE SUPERINTENDENT 40.00 X 120887 0 76289 ROBERT DUBBELDE LINE SUPERINTENDENT 40.00 X 120380 0 43410 JASON PETERSON FOREMAN 40.00 X 113690 0 27658 1452502 0 573433 19 0 1 0 DAVE'S CONSTRUCTION INC 5104 HARVESTORE RD SIOUX FALLS SD 57107 UTILITY CONSTRUCTION 2149825 JANS CORPORATION 4700 N WESTPORT AVE SIOUX FALLS SD 57107 GENERAL CONTRACTOR 942000 SUMMIT UTILITY SERVICES LLC PO BOX 10 ARLEE MT 59821 LOCATING SERVICES 165737 FRIEST TREE EXPERTS LLC 47854 273RD ST HARRISBURG SD 57032 TREE TRIMMING SERVICES 130463 DEWILD GRANT RECKERT & ASSOCIATES 1302 S UNION ST ROCK RAPIDS IA 51246 ENGINEERING SERVICES 110574 5 SALE OF ELECTRICITY 221000 70412683 70412683 COOPERATIVE CAPITAL CREDITS 221000 6245890 6245890 76658573 120021 120021 9619 0 9619 9619 9619 482147 322467 159680 159680 159680 513801 549351 -35550 -35550 76912343 76632642 0 279701 49502 10878610 1059045 4929058 944865 426602 3328834 5772293 PURCHASED POWER 46634275 DISTRIBUTION - OPERATIO 2756126 DISTRIBUTION - MAINTENA 1973227 CUSTOMER ACCOUNTS 1246813 -3086907 76912343 1092097 1011945 1960000 1600000 6326564 8015320 8443044 9881048 2388761 2472084 198069008 47888928 138766931 150180080 468535 1615908 41733335 46636906 7246 7246 1012888 2085542 202199401 223506079 7047655 7985970 119314193 129245436 1517777 3678763 127879625 140910169 X 0 0 0 0 74319776 82595910 74319776 82595910 202199401 223506079 X 0 8276134 X 0 1 X 1 0 503609 503609 5593632 1644350 3949282 186604993 46244578 140360415 5366774 5366774 150180080 PATRONAGE CAPITAL IN ASSOCIATED ORGANIZATIONS 45533878 C CAPITAL TERM CERTIFICATES - NRUCFC 710728 C MEMBER CAPITAL SECURITIES - NRUCFC 285000 C INVESTMENTS IN ECONOMIC DEVELOPMENT 104600 C MEMBERSHIPS IN ASSOCIATED ORGANIZATIONS 2700 C 46636906 ACCRUED OPERATING PROVISIONS 453867 CUSTOMER DEPOSITS 469141 DEFERRED CREDITS 571683 REGULATORY LIABILITIES 1500000 OPERATING LEASE LIABILITY 684072 3678763 X 76912343 0 76912343 0 76912343 66033733 0 66033733 10878610 10878610 76912343 PART X, LINE 2: THE COOPERATIVE 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 COOPERATIVE WOULD RECOGNIZE FUTURE ACCRUED INTEREST AND PENALTIES RELATED TO UNRECOGNIZED TAX BENEFITS IN INCOME TAX EXPENSE IF SUCH INTEREST AND PENALTIES ARE INCURRED. PART XII, LINE 4B - OTHER ADJUSTMENTS: 2022 MARGINS ALLOCATED IN 2023 10,878,610. 1 FORWARD SIOUX FALLS 200 N PHILLIPS AVE STE 200 SIOUX FALLS SD 571046058 460396647 6666 0 GENERAL SUPPORT 1 PART I, LINE 2: THE COOPERATIVE MAKES DONATIONS TO ORGANIZATIONS THAT TIE INTO THE COMMUNITIES THAT IT SERVES. IT DOES NOT PROVIDE GRANT FUNDS, AND DOES NOT MONITOR THE USE OF DONATIONS BY RECIPIENT ORGANIZATIONS. X X X 0 0 0 BRAD SCHARDIN CEO/GENERAL MANAGER 253762 0 0 0 5504 0 7820 0 35529 0 302615 0 0 0 JOHN EUCHNER MANAGER OF OPERATING AND ENGINEERING 170363 0 500 0 1362 0 77203 0 32060 0 281488 0 0 0 TROY PETERS LINE SUPERINTENDENT 129933 0 500 0 847 0 104481 0 32166 0 267927 0 0 0 TODD NELSON MEMBER SERVICES & IT MANAGER 149957 0 500 0 7114 0 20370 0 33726 0 211667 0 0 0 ADAM STARK LINE SUPERINTENDENT 120068 0 500 0 319 0 44168 0 34420 0 199475 0 0 0 JON WUNDER CFO/ASSISTANT MANAGER 140059 0 500 0 510 0 21061 0 36584 0 198714 0 0 0 BOB SCHRAG LINE SUPERINTENDENT 123383 0 1400 0 4470 0 15043 0 28541 0 172837 0 0 0 ROBERT DUBBELDE LINE SUPERINTENDENT 117251 0 500 0 2629 0 15560 0 30314 0 166254 0 0 0 SCHEDULE J, PART II, LINE 1, COLUMN C INCLUDED IN THE AMOUNT REPORTED IN COLUMN C FOR THE ACTUARIAL VALUE OF THE DEFINED BENEFIT PLAN ARE AS FOLLOWS: - JON WUNDER $17,617 - JOHN EUCHNER $71,916 - TROY PETERS $100,836 - ADAM STARK $40,523 ACTUAL COOPERATIVE CONTRIBUTIONS TO THE DEFINED BENEFIT PLAN ARE AS FOLLOWS: - JON WUNDER $18,283 - JOHN EUCHNER $28,932 - TROY PETERS $27,343 - ADAM STARK $27,343 FORM 990, PART VI, SECTION A, LINE 4 THE BYLAWS WERE AMENDED TO REFLECT THE FOLLOWING SIGNIFICANT REVISIONS IN 2022: PATRONS WHO DECLINE MEMBERSHIP BUT USE, RECEIVE, OR PURCHASES ELECTRICAL ENERGY OR A COOPERATIVE SERVICE SHALL OWE THE COOPERATIVE ALL DUTIES OF A COOPERATIVE MEMBER. THE TERRITORY SERVED OR TO BE SERVED BY THE COOPERATIVE SHALL BE DIVIDED INTO SEVEN TO ELEVEN DISTRICTS AS SET OUT IN BOARD POLICY. EACH DISTRICT SHALL BE REPRESENTED BY ONE DIRECTOR. THE BOARD SHALL REVIEW THE DISTRICTS EVERY FIVE YEARS AND MAY RECONSTITUTE THE DISTRICTS TO ENSURE THE DISTRICTS EQUITABLY REPRESENT THE MEMBERS. THE AMENDMENTS WERE SHARED WITH THE MEMBERSHIP IN THE ANNUAL REPORT THAT WAS DISTRIBUTED PRIOR TO THE ANNUAL MEETING WHERE THE MEMBERS APPROVED THE AMENDMENTS. FORM 990, PART VI, SECTION A, LINE 6 EACH MEMBER-CONSUMER BECOMES A MEMBER OF THE COOPERATIVE UPON RECEIPT OF ELECTRIC SERVICE. FORM 990, PART VI, SECTION A, LINE 7A EACH MEMBER-CONSUMER HAS ONE VOTE. FORM 990, PART VI, SECTION A, LINE 7B MEMBER-CONSUMERS MUST APPROVE ANY BYLAW AMENDMENTS, THE SUBSTANTIAL DISPOSITION OF COOPERATIVE PROPERTY, ANY MERGERS OR CONSOLIDATIONS, AND THE REMOVAL OF ANY DIRECTORS FROM THE BOARD. 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, AND REVIEWED WITH, ALL MEMBERS OF THE BOARD OF DIRECTORS BY THE MANAGEMENT STAFF AT A MEETING OF THE BOARD HELD PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C MEMBERS OF THE BOARD OF DIRECTORS ARE COVERED BY THE CONFLICT OF INTEREST POLICY. DETERMINATIONS OF WHETHER A CONFLICT EXISTS AND REVIEW OF ACTUAL CONFLICTS ARE MADE AT THE BOARD LEVEL. BOARD MEMBERS WITH CONFLICTS ARE REQUIRED TO ABSTAIN FROM DISCUSSION AND VOTING ON THE MATTER. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION OF THE CEO/GENERAL MANAGER IS DETERMINED BY THE BOARD OF DIRECTORS TAKING INTO CONSIDERATION THE RESULTS OF STATE, REGIONAL AND NATIONAL COMPENSATION SURVEYS. THE BOARD ALSO APPLIES THE COOPERATIVE'S POLICY ON WAGE AND SALARY ADMINISTRATION IN THEIR DECISION MAKING PROCESS. THIS PROCESS OF REVIEWING THE CEO/GENERAL MANAGER COMPENSATION IS DONE ON AN ANNUAL BASIS. SECTION B LINE 15B: - THE CEO/GENERAL MANAGER IS RESPONSIBLE FOR PROPOSING AN AGGREGATE WAGE AND SALARY PACKAGE FOR OTHER EMPLOYEES TO THE BOARD OF DIRECTORS FOR THEIR APPROVAL. INDIVIDUAL COMPENSATION LEVELS ARE DETERMINED BY THE CEO/GENERAL MANAGER IN COMPLIANCE WITH THE COOPERATIVE'S WAGE AND SALARY ADMINISTRATION POLICY WHICH UTILIZES STATE, REGIONAL AND NATIONAL COMPENSATION SURVEYS. THIS PROCESS OF REVIEWING THE OTHER EMPLOYEES' COMPENSATION IS DONE ON AN ANNUAL BASIS. FORM 990, PART VI, SECTION C, LINE 19 THE COOPERATIVE'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE COOPERATIVE'S MEMBER-CONSUMERS BUT NOT THE GENERAL PUBLIC. BYLAWS AND FINANCIAL STATEMENTS ARE ROUTINELY PROVIDED TO THE MEMBER-CONSUMERS. THE CONFLICT OF INTEREST POLICY WOULD BE PROVIDED TO A MEMBER-CONSUMER UPON REQUEST. FORM 990, PART XI, LINE 9: 2022 MARGINS ALLOCATED IN 2023 10,878,610. RETIREMENT OF PATRONAGE CAPITAL CREDITS -2,602,476.