2021-08-26T11:23:50-05:00 2020-12-31 450250958 EIDE BAILLY LLP 200 E 10TH ST STE 500 SIOUX FALLS SD 571046375 990 2020-01-01 460252750 CHERRY TODD ELECTRIC COOPERATIVE INC CHER 6058564416 PO BOX 169 MISSION SD 57555 TIMOTHY W GRABLANDER CEO 6058564416 2021-08-26 1 TIMOTHY GRABLANDER 999009999 LAURIE HANSON CPA P00851848 6053391999 2021-08-26 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z TIMOTHY W GRABLANDER PO BOX 169 MISSION SD 57555 15108728 0 X WWW.CHERRY-TODD.COM X 1948 SD TO SELL AND DISTRIBUTE ELECTRICITY TO MEMBERS IN A SAFE, RELIABLE, COST EFFECTIVE MANNER. 8 8 23 0 0 0 0 0 14804531 14705186 383758 303824 -11360 3766 15176929 15012776 0 0 538084 744337 773102 647962 0 0 0 13865743 13620477 15176929 15012776 0 0 53567636 52743880 34867324 34116032 18700312 18627848 THE PURPOSE IS TO DISTRIBUTE ELECTRICITY TO MEMBERS IN A SAFE, RELIABLE, COST EFFECTIVE MANNER. 0 0 CHERRY-TODD ELECTRIC COOPERATIVE, INC. IS A MEMBER OWNED COOPERATIVE. THE PURPOSE IS TO SELL AND DISTRIBUTE ELECTRICITY TO ITS MEMBERS. ANY MARGINS WILL BE RETURNED TO THE MEMBERS AT A TIME DETERMINED BY THE BOARD OF DIRECTORS. DURING 2020 APPROXIMATELY 3,668 MEMBERS WERE SERVED WITH 6,020 SITES. 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 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 15 0 23 1 0 0 0 0 0 0 0 14387256 303824 0 0 0 X 8 8 0 0 0 0 1 1 0 1 0 0 0 1 1 1 1 1 1 1 0 0 X THERESA BENDA 6058564416 625 WEST SECOND STREET MISSION SD 57555 NOAH TUCKER PRESIDENT 1.50 X X 5775 0 0 JUSTIN BRICKNER VICE PRESIDENT 1.00 X X 7288 0 0 SHAWN BORDEAUX SECRETARY 1.00 X X 4263 0 0 WHITNEY MEEK TREASURER 1.00 X X 3163 0 0 DAN VALBURG DIRECTOR 1.00 X 3025 0 0 WAYNE FREDERICK DIRECTOR 1.00 X 2200 0 0 GLEN YELLOW EAGLE DIRECTOR 1.00 X 4382 0 0 JERRY FULLERTON DIRECTOR FROM 02/2020 1.00 X 3300 0 0 TIMOTHY W GRABLANDER CEO 40.00 X 168291 0 95228 DAVID PIPER AREA FOREMAN 40.00 X 102518 0 52377 MARK TUCKER JOURNEYMAN LINEMAN 40.00 X 103134 0 42274 MARK IYOTTE LINE SUPERINTENDENT 40.00 X 101665 0 63169 509004 0 253048 4 0 1 0 BESLER INC PO BOX 1527 RAPID CITY SD 577091527 CONSTRUCTION OF SUBSTATION 327767 RUSHMORE ELECTRIC POWER COOP PO BOX 2414 RAPID CITY SD 577092414 ENGINEERING 129541 NISC PO BOX 1147 MANDAN ND 58554 SOFTWARE/BILLING SERVICES 102365 3 ELECTRIC SALES 221000 14226901 14226901 CAPITAL CREDITS 221000 478285 478285 14705186 295051 295051 8773 0 8773 8773 8773 99718 95952 3766 3766 15012776 14708952 0 303824 744337 282708 249902 2344 71655 41353 52486 59203 127583 18358 8335 1127354 1658266 PURCHASED POWER 7562633 DISTRIBUTION - OPERATIO 1513098 DISTRIBUTION - MAINTENA 729994 CUSTOMER ACCOUNTS 413811 349356 15012776 564622 343905 6262074 6767872 1340977 725080 1113172 1019549 302060 212787 56912177 21421707 35847224 35490470 7874974 7946268 262533 237949 53567636 52743880 1407863 1180375 31889235 30260133 1570226 2675524 34867324 34116032 X 0 0 0 0 18700312 18627848 18700312 18627848 53567636 52743880 X 0 -72464 X 0 1 X 1 0 47488 47488 1148149 431926 716223 3803472 2795192 1008280 51913068 18194589 33718479 35490470 RUSHMORE ELECTRIC POWER COOPERATIVE, INC. 7124978 C NATIONAL RURAL UTILTIES CFC 313527 C FEDERATED RURAL ELECTRIC INSURANCE 151731 C RURAL ELECTRIC SUPPLY COOPERATIVE 145037 C OTHER PATRONAGE INVESTMENTS 159680 C OTHER INVESTMENTS 51315 C 7946268 CUSTOMER DEPOSITS 118500 DEFERRED CREDITS 2557024 2675524 X 15012776 0 15012776 0 15012776 14268439 0 14268439 744337 744337 15012776 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: ALLOCATION OF 2020 MARGAIN TO MEMBERS IN 2021 744,337. X X 0 0 0 TIMOTHY W GRABLANDER CEO 165023 0 0 0 3268 0 62576 0 35201 0 266068 0 0 0 MARK IYOTTE LINE SUPERINTENDENT 101390 0 0 0 275 0 34517 0 33445 0 169627 0 0 0 DAVID PIPER AREA FOREMAN 101956 0 0 0 562 0 20626 0 35768 0 158912 0 0 0 SCHEDULE J, PART II, COLUMN C INCLUDED IN THE AMOUNT REPORTED IN COLUMN C IS $57,823 FOR THE CHANGE IN ACTUARIAL VALUE OF THE DEFINED BENEFIT PLAN FOR TIMOTHY W. GRABLANDER. ACTUAL COOPERATIVE CONTRIBUTIONS TO THE PLAN WERE $41,068. INCLUDED IN THE AMOUNT REPORTED IN COLUMN C IS $18,023 FOR THE CHANGE IN ACTUARIAL VALUE OF THE DEFINED BENEFIT PLAN FOR DAVID PIPER. ACTUAL COOPERATIVE CONTRIBUTIONS TO THE PLAN WERE $22,535. INCLUDED IN THE AMOUNT REPORTED IN COLUMN C IS $31,444 FOR THE CHANGE IN ACTUARIAL VALUE OF THE DEFINED BENEFIT PLAN FOR MARK IYOTTE. ACTUAL COOPERATIVE CONTRIBUTIONS TO THE PLAN WERE $26,865. FORM 990, PART VI, SECTION A, LINE 6 CHERRY-TODD ELECTRIC COOPERATIVE, INC. IS A MEMBER OWNED COOPERATIVE. IN ORDER TO RECEIVE ELECTRICAL SERVICE FROM CHERRY-TODD ELECTRIC COOPERATIVE, INC. A CONSUMER HAS TO PAY A MEMBERSHIP FEE OF $5.00 PER SINGLE OR JOINT MEMBERSHIP. THERE IS ONLY ONE CLASS OF MEMBERSHIP. THE MEMBERS RECEIVE AN ALLOCATION OF MARGINS YEARLY BASED ON REVENUE OF KWH CONSUMPTION. THE ALLOCATION IS RETIRED AND PAID TO THE MEMBER AT THE DISCRETION OF THE BOARD OF DIRECTORS OF CHERRY-TODD ELECTRIC COOPERATIVE, INC. FORM 990, PART VI, SECTION A, LINE 7A CHERRY-TODD ELECTRIC COOPERATIVE, INC. IS A MEMBER OWNED COOPERATIVE. THE BYLAWS PROVIDE AN ELECTION BE HELD ANNUALLY FOR THE BOARD OF DIRECTORS' POSITIONS THAT ARE EXPIRING. THE BALLOTING FOR THE ELECTION IS HELD DURING THE ANNUAL MEETING. THEREFORE, THE REPRESENTATION OF THE BOARD OF DIRECTORS IS DECIDED BY THE VOTES OF THE MEMBERS. FORM 990, PART VI, SECTION A, LINE 8B THERE ARE NO COMMITTEES WITH BOARD AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BOARD. FORM 990, PART VI, SECTION B, LINE 11B CHERRY-TODD ELECTRIC COOPERATIVE, INC. PROVIDES EACH MEMBER OF THE GOVERNING BOARD WITH A COMPLETE ELECTRONIC AND PAPER COPY, SOLICITING COMMENTS AND ANY SUGGESTED CHANGES, WHICH ARE TO BE MADE BEFORE FILING. FORM 990, PART VI, SECTION B, LINE 12C THE GOVERNING BOARD INTERPRETS AND ENFORCES THE CONFLICT OF INTEREST POLICY. EACH OFFICIAL MUST ANNUALLY COMPLETE AND SIGN THE CONFLICT OF INTEREST CERTIFICATION AND DISCLOSURE FORM AND DELIVER THE COMPLETED AND SIGNED FORM TO THE PRESIDENT OR MANAGER. UPON RECEIVING OR DISCOVERING ANY INFORMATION OR FACT THAT COULD IMPACT A DIRECTOR'S COMPLIANCE WITH THIS POLICY, THE BOARD MUST (A) PROVIDE THE DIRECTOR AN OPPORTUNITY TO COMMENT ORALLY AND IN WRITING REGARDING THE INFORMATION OR FACT, AND AN OPPORTUNITY TO BE REPRESENTED BY LEGAL COUNSEL, AND (B) DETERMINE WHETHER THE DIRECTOR COMPLIES WITH THIS POLICY. IF THE BOARD DETERMINES THAT A DIRECTOR DOES NOT COMPLY WITH THIS POLICY, THEN (A) THE BOARD MUST PROVIDE THE DIRECTOR AN OPPORTUNITY TO COMPLY WITHIN THIRTY DAYS; AND (B) IF THE DIRECTOR DOES NOT COMPLY WITH THIS POLICY WITHIN 30 DAYS, THEN AS ALLOWED BY THE POLICY, THE BOARD MUST SANCTION, DISQUALIFY, AND/OR REMOVE THE DIRECTOR. FORM 990, PART VI, SECTION B, LINE 15A THE GOVERNING BOARD REVIEWS STATE AND NATIONAL COMPENSATION DATA. THE DATA IS THOROUGHLY REVIEWED AND DELIBERATED BY THE INDEPENDENT PERSONS. ALSO THE DELIBERATION AND DECISION IS CONTEMPORANEOUSLY SUSTANTIATED BY RECORDING IT IN BOARD MINUTES. THIS IS USUALLY DONE ON AN ANNUAL BASIS. FORM 990, PART VI, SECTION C, LINE 19 UPON REQUEST ANYONE MAY REVIEW CHERRY-TODD ELECTRIC COOPERATIVE, INC. GOVERNING DOCUMENTS PLUS THE CONFLICT OF INTEREST POLICY, FINANCIAL STATEMENTS, AND FORM 990. WHEN AN INDIVIDUAL BECOMES A MEMBER OF CHERRY-TODD ELECTRIC COOPERATIVE, INC., HE OR SHE IS GIVEN A COPY OF THE BY-LAWS. AT A MEMBERSHIP MEETING HELD ANNUALLY THE MEMBERS ARE PROVIDED A FINANCIAL REPORT. THE MEMBERS OF CHERRY-TODD ELECTRIC COOPERATIVE, INC. ARE ALSO PROVIDED A MONTHLY FINANCIALS AND STATISTICAL REPORT THROUGH THE "COOPERATIVE CONNECTIONS" MAGAZINE. FORM 990, PART XI, LINE 9: RETIREMENT OF CAPITAL CREDITS -827,685. CHANGE IN MEMBERSHIPS 10,884. ALLOCATION OF 2020 MARGIN TO MEMBERS IN 2021 744,337.