2022-08-10T13:38:33-05:00 2021-12-31 450250958 EIDE BAILLY LLP 200 E 10TH ST STE 500 SIOUX FALLS SD 571046375 990 2021-01-01 460454373 SOUTHEASTERN ELECTRIC COOPERATIVE INC SOUT 6056483619 PO BOX 388 MARION SD 570430388 JON WUNDER CFO 6056483619 2022-08-09 1 JON WUNDER 999009999 LAURIE HANSON CPA P00851848 6053391999 2022-08-09 3 AAL1 IAL1 2021 2022-09-23 18:48:47Z BRAD SCHARDIN PO BOX 388 MARION SD 570430388 72065915 0 X WWW.SOUTHEASTERNELECTRIC.COM X 2000 SD PROVIDING ELECTRIC SERVICE TO MEMBER-CONSUMERS. 9 9 65 0 0 0 0 0 63825309 71527908 293417 84256 13207 3619 64131933 71615783 0 43290 4849327 5669937 4954787 6733911 0 0 0 54327819 59168645 64131933 71615783 0 0 188239253 202199401 117597057 127879625 70642196 74319776 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 16,800 MEMBER-CONSUMERS OVER 4,400 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 1 267 0 1 65 1 0 0 0 0 0 0 0 69868643 1616829 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 JON WUNDER 8003332859 501 S BROADWAY AVE MARION SD 57043 CHRIS HOFER SECRETARY/DIRECTOR FROM 06/2021 2.70 X X 8556 0 0 DARYL TERVEEN TREASURER 4.50 X X 10281 0 0 DON HEEREN PRESIDENT 5.90 X X 10456 0 0 JOHN OSTRAAT DIRECTOR 4.30 X 8756 0 0 JOHNATHAN WILDEBOER DIRECTOR/SECRETARY FROM 06/2021 4.80 X 12281 0 0 RON ANDERSON DIRECTOR FROM 06/2021 6.60 X 10355 0 0 PAT SCHEIER DIRECTOR UNTIL 06/2021 3.30 X 3728 0 0 RICHARD OLSEN DIRECTOR UNTIL 06/2021 3.10 X 5164 0 0 ROBERT WOLLMANN DIRECTOR 7.70 X 13006 0 0 STEVE HOLMBERG VICE PRESIDENT 5.30 X X 11506 0 0 CARLOS HOFER DIRECTOR FROM 10/2021 7.30 X 3814 0 0 BRAD SCHARDIN CEO/GENERAL MANAGER 40.00 X 228152 0 36186 JOHN MCDONALD CFO/ASSISTANT MANAGER UNTIL 06/2021 40.00 X 138413 0 19829 JON WUNDER CFO/ASSISTANT MANAGER FROM 06/2021 40.00 X 101752 0 23129 JOHN EUCHNER MANAGER OF OPERATING AND ENGINEERING 40.00 X 162381 0 101877 ADAM STARK LINE SUPERINTENDENT 40.00 X 113731 0 68968 BOB SCHRAG LINE SUPERINTENDENT 40.00 X 112484 0 44509 ROBERT DUBBELDE LINE SUPERINTENDENT 40.00 X 117369 0 41198 TODD NELSON MEMBER SERVICES & IT MANAGER 40.00 X 144990 0 46740 TROY PETERS LINE SUPERINTENDENT 40.00 X 119421 0 132304 1336596 0 514740 10 0 1 0 DAVE'S CONSTRUCTION INC 5104 HARVESTORE RD SIOUX FALLS SD 57107 UTILITY CONSTRUCTION 2668556 SUMMIT UTILITY SERVICES LLC PO BOX 10 ARLEE MT 59821 LOCATING SERVICES 123377 2 SALE OF ELECTRICITY 221000 68008857 68008857 COOPERATIVE CAPITAL CREDITS 221000 2976962 2976962 OTHER SALES 221000 542089 542089 71527908 84969 84969 51891 52604 -713 -713 -713 401147 397528 3619 3619 71615783 71531527 0 84256 43290 5669937 876637 4574534 889340 393400 3131329 5334253 PURCHASED POWER 48124259 DISTRIBUTION - OPERATIO 2324518 DISTRIBUTION - MAINTENA 1807814 KWH TAX 1132307 -2685835 71615783 806876 1092097 2750000 1960000 6335040 6326564 5955556 8443044 2177553 2388761 183870445 45103514 127433191 138766931 468535 40305742 41733335 7246 2475295 1012888 188239253 202199401 6321901 7047655 109824834 119314193 1450322 1517777 117597057 127879625 X 0 0 0 0 70642196 74319776 70642196 74319776 188239253 202199401 X 0 3677580 X 0 1 X 1 0 503609 503609 5480632 1537813 3942819 175266127 43565701 131700426 2620077 2620077 138766931 PATRONAGE CAPITAL IN ASSOCIATED ORGANIZATIONS 40630307 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 41733335 ACCRUED OPERATING PROVISIONS 434042 CONSUMER DEPOSITS 452777 DEFERRED CREDITS 290615 REGULATORY LIABILITIES 340343 1517777 X 71615783 0 71615783 0 71615783 65945846 0 65945846 5669937 5669937 71615783 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: 2021 MARGINS ALLOCATED IN 2022 5,669,937. 1 FORWARD SIOUX FALLS 200 N PHILLIPS AVE STE 200 SIOUX FALLS SD 571046058 460396647 6666 0 GENERAL SUPPORT SOUTH DAKOTA STATE FAIR FOUNDATION 1060 3RD ST SW HURON SD 57350 460425814 501(C)(3) 7500 0 DAKOTA EVENTS COMPLEX 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 222933 0 0 0 5219 0 6888 0 33583 0 268623 0 0 0 JOHN EUCHNER MANAGER OF OPERATING AND ENGINEERING 160870 0 200 0 1311 0 74769 0 30203 0 267353 0 0 0 TROY PETERS LINE SUPERINTENDENT 117751 0 200 0 1470 0 104189 0 30323 0 253933 0 0 0 TODD NELSON MEMBER SERVICES & IT MANAGER 141048 0 200 0 3742 0 16825 0 32744 0 194559 0 0 0 ADAM STARK LINE SUPERINTENDENT 113224 0 200 0 307 0 41472 0 29648 0 184851 0 0 0 ROBERT DUBBELDE LINE SUPERINTENDENT 114635 0 200 0 2534 0 14953 0 28571 0 160893 0 0 0 JOHN MCDONALD CFO/ASSISTANT MANAGER UNTIL 06/2021 135289 0 0 0 3124 0 9875 0 11506 0 159794 0 0 0 BOB SCHRAG LINE SUPERINTENDENT 107590 0 200 0 4694 0 14953 0 31882 0 159319 0 0 0 SCHEDULE J, PART II, LINE 1, COLUMN C PART II COLUMN C INCLUDES $0 OF CHANGE IN ACTUARIAL BENEFITS FOR BRAD SCHARDIN'S DEFINED BENEFIT PLAN. ACTUAL CONTRIBUTIONS TO THIS PLAN BY THE COOPERATIVE WERE $0. PART II COLUMN C INCLUDES $69,771 OF CHANGE IN ACTUARIAL BENEFITS FOR JOHN EUCHNER'S DEFINED BENEFIT PLAN. ACTUAL CONTRIBUTIONS TO THIS PLAN BY THE COOPERATIVE WERE $25,900. PART II COLUMN C INCLUDES $100,739 OF CHANGE IN ACTUARIAL BENEFITS FOR TROY PETERS'S DEFINED BENEFIT PLAN. ACTUAL CONTRIBUTIONS TO THIS PLAN BY THE COOPERATIVE WERE $26,449. PART II COLUMN C INCLUDES $0 OF CHANGE IN ACTUARIAL BENEFITS FOR TODD NELSON'S DEFINED BENEFIT PLAN. ACTUAL CONTRIBUTIONS TO THIS PLAN BY THE COOPERATIVE WERE $5,684. PART II COLUMN C INCLUDES $38,021 OF CHANGE IN ACTUARIAL BENEFITS FOR ADAM STARK'S DEFINED BENEFIT PLAN. ACTUAL CONTRIBUTIONS TO THIS PLAN BY THE COOPERATIVE WERE $26,449. PART II COLUMN C INCLUDES $0 OF CHANGE IN ACTUARIAL BENEFITS FOR ROBERT DUBBELDE'S DEFINED BENEFIT PLAN. ACTUAL CONTRIBUTIONS TO THIS PLAN BY THE COOPERATIVE WERE $0. PART II COLUMN C INCLUDES $0 OF CHANGE IN ACTUARIAL BENEFITS FOR JOHN MCDONALD'S DEFINED BENEFIT PLAN. ACTUAL CONTRIBUTIONS TO THIS PLAN BY THE COOPERATIVE WERE $0. PART II COLUMN C INCLUDES $0 OF CHANGE IN ACTUARIAL BENEFITS FOR BOB SCHRAG'S DEFINED BENEFIT PLAN. ACTUAL CONTRIBUTIONS TO THIS PLAN BY THE COOPERATIVE WERE $0. 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. THE MOST RECENT ADJUSTMENT TO THE COMPENSATION OF THE CEO/GENERAL MANAGER WAS EFFECTIVE NOVEMBER 2021. 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. 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: 2021 MARGINS ALLOCATED IN 2022 5,669,937. RETIREMENT OF PATRONAGE CAPITAL CREDITS -1,992,357.