Codington-Clark Electric Cooperative Inc
- Assets
- $49.3m
- Revenue
- $12.8m
- Investments
- $62.9k
- Employees
- 18
- Location
- Watertown, SD
- Founding
- 08/1949
- Data as of
- 12/2021
- EIN
- 46-0121065
Organization Overview
Codington-Clark Electric Cooperative Inc is located in Watertown, SD. The organization was established in 1949. According to its NTEE Classification (W80) the organization is classified as: Public Utilities, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2021, Codington-Clark Electric Cooperative Inc employed 18 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Codington-Clark Electric Cooperative Inc is a 501(c)(12) and as such, is described as a "Benevolent Life Insurance Association, Mutual Ditch or Irrigation Company, Mutual or Cooperative Telephone Company" by the IRS.
For the year ending 12/2021, Codington-Clark Electric Cooperative Inc generated $12.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.8% each year. All expenses for the organization totaled $12.8m during the year ending 12/2021. While expenses have increased by 1.8% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO MAKE ELECTRIC ENERGY AVAILABLE TO OUR MEMBERS AT THE LOWEST POSSIBLE COST.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED ELECTRIC SERVICE TO APROXIMATELY 2,512 MEMBERS. ADDED, RETIRED OR REPLACED APPROXIMATELY 12 MILES OF UNDERGROUND AND 4 MILES OF OVERHEAD LINE.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Eide General Manager | Officer | 45 | $143,304 |
Jared Terhark Distribution System Manager | 45 | $103,259 | |
Roy Gjerde Director | Trustee | 10 | $4,400 |
Alfred Schleusner Vice President | OfficerTrustee | 10 | $4,100 |
Benjamin Fleming President | OfficerTrustee | 10 | $3,900 |
Russell Hurlbert Director | Trustee | 10 | $3,900 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $12,792,383 |
| Investment income | $29,687 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $19,802 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$23,243 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $12,818,629 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $924,578 |
| Compensation of current officers, directors, key employees. | $397,539 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,087,389 |
| Pension plan accruals and contributions | $253,245 |
| Other employee benefits | $0 |
| Payroll taxes | $103,251 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $4,197 |
| Fees for services: Accounting | $29,554 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,420 |
| Office expenses | $54,299 |
| Information technology | $87,946 |
| Royalties | $0 |
| Occupancy | $2,761 |
| Travel | $24,760 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $747,656 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,320,668 |
| Insurance | $0 |
| All other expenses | -$405,246 |
| Total functional expenses | $12,818,629 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $2,326,448 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,273,638 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $654,246 |
| Prepaid expenses and deferred charges | $7,529 |
| Net Land, buildings, and equipment | $36,313,575 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $62,881 |
| Investments—program-related | $8,470,182 |
| Intangible assets | $0 |
| Other assets | $171,184 |
| Total assets | $49,279,683 |
| Accounts payable and accrued expenses | $1,440,202 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $25,292,130 |
| Unsecured mortgages and notes payable | $1,585,298 |
| Other liabilities | $3,368,840 |
| Total liabilities | $31,686,470 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $17,593,213 |
| Total liabilities and net assets/fund balances | $49,279,683 |
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|---|---|---|
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Capital Electric Cooperative Inc Bismarck, ND | $133,692,620 | $42,124,624 |
Northern Plains Electric Cooperative Carrington, ND | $137,367,234 | $41,884,973 |
Garden Valley Telephone Company Erskine, MN | $115,867,634 | $40,536,799 |
West River Electric Association Inc Wall, SD | $136,764,788 | $38,874,089 |
District Energy St Paul Inc St Paul, MN | $133,953,246 | $38,563,375 |
Steele Waseca Cooperative Electric Owatonna, MN | $93,180,056 | $37,750,212 |
Yellowstone Valley Electric Cooperative Inc Huntley, MT | $80,881,351 | $39,379,515 |
Maquoketa Valley Rural Electric Cooperative Anamosa, IA | $145,482,750 | $38,262,856 |
Access Energy Cooperative Mt Pleasant, IA | $101,668,176 | $38,281,251 |
Consolidated Telephone Company Brainerd, MN | $86,072,377 | $35,653,081 |
Federated Rural Electric Association Jackson, MN | $74,873,988 | $36,024,282 |