Bon Homme-Yankton Electric Association Inc
- Assets
- $40.7m
- Revenue
- $12.5m
- Investments
- $1.8m
- Employees
- 19
- Location
- Tabor, SD
- Founding
- 01/1953
- Data as of
- 12/2023
- 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 12/2023, Bon Homme-Yankton Electric Association Inc employed 19 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 12/2023, Bon Homme-Yankton Electric Association Inc generated $12.5m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 3.4% each year. All expenses for the organization totaled $12.5m during the year ending 12/2023. While expenses have increased by 3.4% per year over the past 9 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
2023
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 3,227 UNIQUE MEMBERS, ADDED 14.54 MILES OF LINE AND REMOVED 13.68 MILES OF LINE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert Ruppelt Treasurer | OfficerTrustee | 4.4 | $7,625 |
Dean Sternhagen Director | Trustee | 3.5 | $6,900 |
John Lillevold Director | Trustee | 3 | $6,675 |
David Sykora Vice President | OfficerTrustee | 2.3 | $6,450 |
Paul Voigt President | OfficerTrustee | 2.8 | $5,775 |
David Sternhagen Secretary | OfficerTrustee | 3.9 | $5,550 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Larrson Digging Inc Cable Plowing | 12/30/23 | $276,651 |
Berndt's Tree Service Tree Trimming | 12/30/23 | $150,680 |
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 | $12,258,337 |
| Investment income | $131,317 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $79,404 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $12,469,058 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $3,105 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $1,265,638 |
| Compensation of current officers, directors, key employees. | $255,990 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,220,004 |
| Pension plan accruals and contributions | $222,340 |
| Other employee benefits | $0 |
| Payroll taxes | $105,931 |
| 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 | $558,643 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,147,546 |
| Insurance | $0 |
| All other expenses | -$1,243,069 |
| Total functional expenses | $12,469,058 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $863,736 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,028,453 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,929,104 |
| Prepaid expenses and deferred charges | $87,344 |
| Net Land, buildings, and equipment | $26,743,136 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $1,772,743 |
| Investments—program-related | $8,304,584 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $40,729,100 |
| Accounts payable and accrued expenses | $873,508 |
| 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 | $23,330,003 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,893,128 |
| Total liabilities | $26,096,639 |
| 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 | $14,632,461 |
| Total liabilities and net assets/fund balances | $40,729,100 |