Bon Homme-Yankton Electric Association Inc
- Assets
- $36.7m
- Revenue
- $11.3m
- Investments
- $1.1m
- Employees
- 18
- Location
- Tabor, SD
- Founding
- 01/1953
- Data as of
- 12/2021
- EIN
- 46-0211846
Organization Overview
Bon Homme-Yankton Electric Association Inc is located in Tabor, SD. The organization was established in 1953. 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, Bon Homme-Yankton Electric Association Inc employed 18 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bon Homme-Yankton Electric Association 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, Bon Homme-Yankton Electric Association Inc generated $11.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.9% each year. All expenses for the organization totaled $11.3m during the year ending 12/2021. While expenses have increased by 2.9% 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 PROVIDE ELECTRICITY TO RURAL COMMUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED ELECTRIC SERVICE TO APPROXIMATELY 3,178 UNIQUE MEMBERS, ADDED 26 MILES OF LINE AND REMOVED 24 MILES OF LINE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stephanie Horst General Manager/ceo | Officer | 40 | $130,747 |
Rick Cheloha Director | Trustee | 3.8 | $8,350 |
Robert Ruppelt Treasurer | OfficerTrustee | 3.7 | $7,350 |
John Lillevold Director | Trustee | 2.9 | $6,550 |
David Sykora Vice President | OfficerTrustee | 2.3 | $5,475 |
Dean Sternhagen Director | Trustee | 2.1 | $5,425 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Larson Digging Inc Underground Cable Installation | 12/30/21 | $369,458 |
Berndt's Tree Service Tree Trimming | 12/30/21 | $160,564 |
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 | $11,413,612 |
| Investment income | $17,764 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$200,000 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $46,398 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $11,277,774 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $9,574 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $900,690 |
| Compensation of current officers, directors, key employees. | $222,004 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,107,172 |
| Pension plan accruals and contributions | $219,300 |
| Other employee benefits | $0 |
| Payroll taxes | $95,409 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $487,329 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,070,712 |
| Insurance | $0 |
| All other expenses | -$1,065,413 |
| Total functional expenses | $11,277,774 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $507,175 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,061,813 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,399,675 |
| Prepaid expenses and deferred charges | $237,892 |
| Net Land, buildings, and equipment | $24,989,094 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $1,120,634 |
| Investments—program-related | $7,335,033 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $36,651,316 |
| Accounts payable and accrued expenses | $1,091,172 |
| 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 | $21,371,873 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,232,634 |
| Total liabilities | $23,695,679 |
| 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 | $12,955,637 |
| Total liabilities and net assets/fund balances | $36,651,316 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Bon Homme-Yankton Electric Association Inc has recieved totaling $12,100.
| Awarding Organization | Amount |
|---|---|
National Rural Utilities Cooperative Finance Corp Dulles, VA PURPOSE: INTEGRITY FUND - TERRITORY THREAT | $12,100 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Blue Earth Nicollet Faribault Cooperative Electric Association Mankato, MN | $118,260,844 | $45,959,324 |
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 |