2025-06-05T17:07:19-05:00 2024-12-31 450250958 EIDE BAILLY LLP 345 N REID PL STE 400 SIOUX FALLS SD 571037034 990 2024-01-01 460454373 SOUTHEASTERN ELECTRIC COOPERATIVE INC SOUT 6056483619 47077 276TH ST LENNOX SD 57039 JON WUNDER CFO 6056483619 2025-06-05 1 1 LAURIE HANSON CPA P00851848 6053391999 2025-06-05 2024 2025-03-06 01:10:19Z CHAD KINSLEY 47077 276TH ST LENNOX SD 57039 88246313 0 X WWW.SOUTHEASTERNELECTRIC.COM X 2000 SD PROVIDING ELECTRIC SERVICE TO MEMBER-CONSUMERS. 9 9 71 0 0 0 0 0 81228272 87281595 397018 361112 -22913 -22718 81602377 87619989 50577 57154 7210123 7822965 7967831 8252800 0 0 0 66373846 71487070 81602377 87619989 0 0 248235233 265106823 161137431 171793109 87097802 93313714 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 19,560 MEMBER-CONSUMERS OVER 4,532 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 1 266 0 1 71 1 0 0 0 0 0 0 0 84955403 2401006 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 47077 276TH ST LENNOX SD 57039 STEVE HOLMBERG PRESIDENT 5.30 X X 13230 0 0 ROBERT WOLLMANN VICE PRESIDENT 7.10 X X 13780 0 0 DARYL TERVEEN TREASURER 4.50 X X 11205 0 0 JOHNATHAN WILDEBOER SECRETARY 6.10 X X 15155 0 0 CHRIS HOFER DIRECTOR 3.40 X 11880 0 0 CARLOS HOFER DIRECTOR 3.80 X 10855 0 0 DON HEEREN DIRECTOR 5.90 X 12530 0 0 JOHN OSTRAAT DIRECTOR 6.70 X 14605 0 0 DONOVAN KOST DIRECTOR 8.80 X 17405 0 0 JON WUNDER CFO 40.00 X 158959 0 57365 CHAD KINSLEY CEO 40.00 X 327102 0 57247 JOHN EUCHNER VP OF OPERATIONS & ENGINEERING 40.00 X 185992 0 103434 TODD NELSON VP OF INFORMATION TECHNOLOGY 40.00 X 169667 0 57114 TROY PETERS LINE SUPERINTENDENT 40.00 X 153745 0 126392 ROBERT KALDA LINE SUPERINTENDENT 40.00 X 133929 0 48606 ADAM STARK LINE SUPERINTENDENT 40.00 X 137800 0 68667 ROBERT DUBBELDE LINE SUPERINTENDENT 40.00 X 140578 0 43031 1528417 0 561856 31 0 1 0 DAVE'S CONSTRUCTION INC 5104 HARVESTORE RD SIOUX FALLS SD 57107 UTILITY CONSTRUCTION 2470382 JANS CORPORATION 4700 N WESTPORT AVE SIOUX FALLS SD 57107 GENERAL CONTRACTOR 904032 DEWILD GRANT RECKERT & ASSOCIATES 1302 S UNION ST ROCK RAPIDS IA 51246 ENGINEERING SERVICES 195298 SUMMIT UTILITY SERVICES LLC PO BOX 10 ARLEE MT 59821 LOCATING SERVICES 136133 FRIEST TREE EXPERTS LLC 47854 273RD ST HARRISBURG SD 57032 TREE TRIMMING SERVICES 120192 5 SALE OF ELECTRICITY 221000 82462132 82462132 COOPERATIVE CAPITAL CR 221000 4780214 4780214 39249 39249 87281595 340051 340051 18868 0 18868 18868 18868 21909 848 21061 21061 21061 583890 625476 -41586 -41586 87619989 87258877 0 361112 X 57154 7822965 1018226 5639687 1119657 475230 4736055 7046762 PURCHASED POWER 55934651 DISTRIBUTION - OPERATIO 3416136 DISTRIBUTION - MAINTENA 2223736 CUSTOMER ACCOUNTS 1467712 -3337982 87619989 2149569 1459849 1500000 1950000 7943331 8053489 12138184 15171642 2613536 2892332 231224505 53562629 167006193 177661876 1635369 1636701 50631342 53770176 7246 7246 2610463 2503512 248235233 265106823 8446148 7796788 148880343 160390748 3810940 3605573 161137431 171793109 X 0 0 0 0 87097802 93313714 87097802 93313714 248235233 265106823 X 0 6215912 X 0 1 X 1 0 503609 503609 11161067 1941586 9219481 217811686 51621043 166190643 1748143 1748143 177661876 PATRONAGE CAPITAL IN ASSOCIATED ORGANIZATIONS 52667148 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 53770176 OTHER BENEFIT OBLIGATION 396899 CUSTOMER DEPOSITS 504101 DEFERRED CREDITS 944441 REGULATORY LIABILITIES 1500000 OPERATING LEASE LIABILITY 260132 3605573 X 87619989 0 87619989 0 87619989 79797024 0 79797024 7822965 7822965 87619989 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: 2024 MARGINS ALLOCATED IN 2025 7,822,965. 1 FORWARD SIOUX FALLS 200 N PHILLIPS AVE STE 200 SIOUX FALLS SD 571046058 460396647 6600 0 GENERAL SUPPORT HARRISBURG COMMUNITY FOUNDATION PO BOX 343 HARRISBURG SD 57032 841709233 501(C)(3) 7000 0 YOUTH BALL FIELDS ADDITION 1 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. 1 X X X 0 0 0 CHAD KINSLEY CEO 324487 0 0 0 2615 0 23299 0 39718 0 390119 0 0 0 JOHN EUCHNER VP OF OPERATIONS & ENGINEERING 183224 0 0 0 2768 0 68936 0 38335 0 293263 0 0 0 TROY PETERS LINE SUPERINTENDENT 152108 0 600 0 1037 0 88388 0 40692 0 282825 0 0 0 TODD NELSON VP OF INFORMATION TECHNOLOGY 163031 0 0 0 6636 0 22165 0 38459 0 230291 0 0 0 JON WUNDER CFO 158358 0 0 0 601 0 18575 0 42132 0 219666 0 0 0 ADAM STARK LINE SUPERINTENDENT 137399 0 0 0 401 0 29528 0 41786 0 209114 0 0 0 ROBERT DUBBELDE LINE SUPERINTENDENT 135019 0 1000 0 4559 0 16252 0 29117 0 185947 0 0 0 ROBERT KALDA LINE SUPERINTENDENT 132069 0 0 0 1860 0 11895 0 39400 0 185224 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: - CHAD KINSLEY $18,239 - JON WUNDER $13,449 - JOHN EUCHNER $63,179 - TROY PETERS $84,368 - ADAM STARK $25,507 - ROBERT KALDA $0 ACTUAL COOPERATIVE CONTRIBUTIONS TO THE DEFINED BENEFIT PLAN ARE AS FOLLOWS: - CHAD KINSLEY $24,387 - JON WUNDER $30,556 - JOHN EUCHNER $34,457 - TROY PETERS $32,908 - ADAM STARK $32,908 - ROBERT KALDA $13,712 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 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 COMPENSATION IS DONE ON AN ANNUAL BASIS. SECTION B LINE 15B: THE CEO 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 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 IX 990 PART IX BOX AT TOP RIGHT MARKED BECAUSE WE HAVE A NARRATIVE ON O FOR PART IX. FORM 990, PART XI, LINE 9: 2024 MARGINS ALLOCATED IN 2025 7,822,965. RETIREMENT OF PATRONAGE CAPITAL CREDITS -1,607,053.