2023-08-03T09:54:33-05:00 2022-12-31 450250958 EIDE BAILLY LLP 200 E 10TH ST STE 500 SIOUX FALLS SD 571046375 990 2022-01-01 460200495 UNION COUNTY ELECTRIC COOPERATIVE INC UNIO 6053563395 32708 477TH AVE ELK POINT SD 57025 MATT KLEIN GENERAL MANAGER 6053563395 2023-08-01 1 MATT KLEIN 999009999 1 LAURIE HANSON CPA P00851848 6053391999 2023-08-01 3 AAL1 IAL1 2022 2023-04-26 12:10:37Z X DONALD SCHURDEVIN 32708 477TH AVE ELK POINT SD 57025 5521003 0 X WWW.UNIONCOUNTY.COOP X 1937 SD PROVIDING HIGH VALUE ENERGY TO MEMBERS - ELECTRIC DISTRIBUTION UTILITY. 5 5 12 0 -4654 0 0 0 4576027 4709612 15814 232813 11704 3658 4603545 4946083 7998 1258 264225 544425 1010395 1090001 0 0 0 3320927 3310399 4603545 4946083 0 0 14839225 18637020 9403236 12868597 5435989 5768423 UNION COUNTY ELECTRIC COOPERATIVE EXISTS TO PROVIDE HIGH VALUE ENERGY TO OUR MEMBERS BY FOCUSING ON DELIVERING SAFE, RELIABLE, ENVIRONMENTALLY FRIENDLY ELECTRICITY WHILE PROMOTING ENERGY EFFICIENCY THROUGH EDUCATION. 0 0 PROVIDED ELECTRIC SERVICE TO APPROXIMATELY 1,204 MEMBERS AND INCREASED MILES OF LINE BY 1.39 MILES. 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 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 24 0 1 12 1 0 0 0 0 0 4705558 509710 0 0 0 X 5 5 0 0 0 0 1 1 1 1 0 0 0 1 1 1 1 0 1 1 0 0 X AMANDA ADAMS 6053563395 32708 477TH AVE ELK POINT SD 57025 X WILLIAM DAILEY ASSISTANT SECRETARY 2.00 X X 3600 0 0 EDWARD DONNELLY SECRETARY 2.00 X X 3400 0 0 PAUL PEACOCK TREASURER 2.00 X X 3600 0 0 DONALD GRAY VICE PRESIDENT 5.00 X X 3600 0 0 DONALD SCHURDEVIN PRESIDENT 5.00 X X 3230 0 0 MATT KLEIN GENERAL MANAGER 50.00 X 138332 0 58521 TREVER TURNER OPERATIONS MANAGER 50.00 X 110603 0 69280 266365 0 127801 2 0 0 0 NELSON COMMERCIAL CONSTRUCTION 2805 W 4TH ST SIOUX CITY IA 51103 NEW BUILDING 2391646 1 SALE OF POWER 221000 4404034 4404034 CAPITAL CREDITS 221000 305578 305578 4709612 19969 19969 425000 212156 212844 212844 212844 366422 362764 3658 8312 -4654 4946083 4717924 -4654 232813 1258 544425 213107 685291 128266 63337 302983 457648 COST OF POWER 2126201 ADMIN & GENERAL 568732 DISTRIBUTION-OPERATIONS 330705 DISTRIBUTION-MAINTENANC 275310 -751180 4946083 561251 1227355 382701 496279 91625 105594 530406 375386 139053 88723 17884584 4497882 10362344 13386702 160000 150000 2611845 2806981 14839225 18637020 332187 547426 8791776 12059795 279273 261376 9403236 12868597 X 0 0 0 0 5435989 5768423 5435989 5768423 14839225 18637020 X 0 332434 X 0 1 X 1 0 88036 88036 14827180 4497882 10329298 2969368 2969368 13386702 EAST RIVER ELECTRIC POWER COOPERATIVE, INC. 2523917 C NATIONAL RURAL UTILITIES COOPERATIVE FINANCE CORPORATION 185016 C FEDERATED RURAL ELECTRIC INSURANCE EXCHANGE 45787 C RURAL ELECTRIC ECONOMIC DEVELOPMENT, INC. 19000 C MEMBERSHIPS 2725 C RURAL ELECTRIC SUPPLY COOPERATIVE 30536 C 2806981 DEFERRED CREDITS 159776 CUSTOMER DEPOSITS 101600 261376 X 4944825 -1258 -1258 4946083 0 4946083 4400400 0 4400400 545683 545683 4946083 PART X, LINE 2: THE COOPERATIVE EVALUATES ITS TAX POSITIONS THAT HAVE BEEN TAKEN OR ARE EXPECTED TO BE TAKEN ON INCOME TAX RETURNS TO DETERMINE IF AN ACCRUAL IS NECESSARY FOR UNCERTAIN TAX POSITIONS. AS OF DECEMBER 31, 2022 AND 2021, THE UNRECOGNIZED TAX BENEFITS ACCRUAL WAS ZERO. THE COOPERATIVE WILL RECOGNIZE FUTURE ACCRUED INTEREST AND PENALTIES RELATED TO UNRECOGNIZED TAX BENEFITS IN INCOME TAX EXPENSE IF INCURRED. PART XI, LINE 2D - OTHER ADJUSTMENTS: DONATIONS GIVEN INCLUDED AS REVENUE ON FINANCIAL STATEMENTS -1,258. PART XII, LINE 4B - OTHER ADJUSTMENTS: ALLOCATION OF 2022 MARGINS TO MEMBERS IN 2023 544,425. DONATIONS GIVEN INCLUDED AS EXPENSE ON 990 1,258. X X 0 0 0 MATT KLEIN GENERAL MANAGER 137555 0 777 0 0 0 34226 0 26611 0 199169 0 0 0 TREVER TURNER OPERATIONS MANAGER 110603 0 0 0 0 0 41275 0 29796 0 181674 0 0 0 SCHEDULE J, PART II, COLUMN C PER THE INSTRUCTIONS, COLUMN C INCLUDES THE CHANGE IN ACTUARIAL VALUE IN THE DEFINED BENEFIT PLAN FOR PERSONS LISTED IN SCHEDULE J, PART II. ACTUAL EXPENSE OF THE PLAN MAY BE SIGNIFICANTLY DIFFERENT FROM THE CHANGE IN ACTUARIAL VALUE. DETAILS RELEVANT TO THE DEFINED BENEFIT PLAN ARE AS FOLLOWS: MATT KLEIN - ACTUAL EXPENSE $27,734; CHANGE IN ACTUARIAL VALUE $31,226. TREVER TURNER - ACTUAL EXPENSE $20,972; CHANGE IN ACTUARIAL VALUE $38,215. FORM 990, PART VI, SECTION A, LINE 6 MEMBERS ARE ALL OF THE SAME CLASS. FORM 990, PART VI, SECTION A, LINE 7A EACH MEMBER IS OF THE SAME CLASS AND HAS ONE VOTE. FORM 990, PART VI, SECTION A, LINE 7B THE COOPERATIVE MAY NOT SELL, LEASE, OR OTHERWISE DISPOSE OF ALL OR A SUBSTANTIAL PORTION OF ITS PROPERTY, UNLESS SUCH SALE, LEASE OR OTHER DISPOSAL IS AUTHORIZED BY THE AFFIRMATIVE VOTE OF NOT LESS THAN A MAJORITY OF ALL MEMBERS OF THE COOPERATIVE. ALONG WITH THAT, AMENDMENTS TO THE BYLAWS OF THE COOPERATIVE MUST BE APPROVED BY THE MEMBERS. FORM 990, PART VI, SECTION A, LINE 8B THE ORGANIZATION HAS NO COMMITTEES. FORM 990, PART VI, SECTION B, LINE 11B THE GENERAL MANAGER AND BOARD OF DIRECTORS WILL REVIEW THE FORM 990 AT A REGULARLY SCHEDULED BOARD MEETING. FORM 990, PART VI, SECTION B, LINE 12C EMPLOYEES AND DIRECTORS ARE COVERED BY THE CONFLICT OF INTEREST POLICY. THE PROCESS IS LEFT UP TO THE DIRECTORS & MANAGER TO MONITOR. ANY CONFLICTS WOULD BE REVIEWED. TERMINATION OR EXPULSION WOULD BE IMPOSED ON A DIRECTOR AND TERMINATION ON AN EMPLOYEE. FORM 990, PART VI, SECTION B, LINE 15A WAGES WERE COMPARED TO OTHER COOPERATIVES OF SIMILAR SIZE USING THE WAGE AND SALARY REPORT PREPARED BY SOUTH DAKOTA RURAL ELECTRIC ASSOCIATION (SDREA). THIS PROCESS IS DONE ANNUALLY. FORM 990, PART VI, SECTION C, LINE 19 THIS INFORMATION IS PROVIDED TO MEMBERS IN THE ANNUAL REPORT. AT OTHER TIMES, THIS INFORMATION IS AVAILABLE UPON REQUEST TO BOTH THE MEMBERS AND THE PUBLIC. 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 GENERAL 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. THE CHANGE IN ACTUARIAL VALUE OF THE DEFINED BENEFIT PLAN FOR MATT KLEIN REPORTED IN PART VII, COLUMN F WAS $31,226. THE COOPERATIVE'S ACTUAL EXPENSE FOR MATT'S PARTICPATION IN THIS PLAN IN 2022 WAS $27,734. THE CHANGE IN ACTUARIAL VALUE OF THE DEFINED BENEFIT PLAN FOR TREVER TURNER REPORTED IN PART VII, COLUMN F WAS $38,215. THE COOPERATIVE'S ACTUAL EXPENSE FOR TREVER'S PARTICPATION IN THIS PLAN IN 2022 WAS $20,972. FORM 990, PART VII, SECTION A MATT KLEIN, THE GENERAL MANAGER, ALSO ACTS AS THE TOP FINANCIAL OFFICER OF THE COOPERATIVE. FORM 990, PART XI, LINE 9: ALLOCATION OF 2022 MARGINS TO MEMBERS IN 2023 544,425. CHANGE IN MEMBERSHIPS 35. RETIREMENT OF CAPITAL CREDITS -212,026. FORM 990, PART IX, LINE 24E STATEMENT OF FUNCTIONAL EXPENSES: ALLOCATED AND OTHER EXPENSE: THE LABOR, PENSION AND PAYROLL TAXES REPORTED ON LINES 6-10 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.