Cherry-Todd Electric Cooperative Inc
- Assets
- $52.1m
- Revenue
- $15.4m
- Investments
- $0.0
- Employees
- 23
- Location
- Mission, SD
- Founding
- 01/1953
- Data as of
- 12/2023
- EIN
- 46-0252750
Organization Overview
Cherry-Todd Electric Cooperative Inc is located in Mission, 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, Cherry-Todd Electric Cooperative Inc employed 23 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cherry-Todd 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 12/2023, Cherry-Todd Electric Cooperative Inc generated $15.4m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (0.2%) each year. All expenses for the organization totaled $15.4m during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (0.2%) per year over the past 6 years. 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 SELL AND DISTRIBUTE ELECTRICITY TO MEMBERS IN A SAFE, RELIABLE, COST EFFECTIVE MANNER.
Describe the Organization's Program Activity:
Part 3 - Line 4a
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 2023, APPROXIMATELY 3,763 MEMBERS WERE SERVED OVER 2,404 MILES OF LINE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Shawn Bordeaux President | OfficerTrustee | 1.5 | $6,325 |
Justin Brickner Secretary/vp Begin 09/2023 | OfficerTrustee | 1 | $8,840 |
Amanda Antoine Director/secretary Begin 09/2023 | OfficerTrustee | 1 | $3,850 |
Whitney Meek Treasurer | OfficerTrustee | 1 | $6,875 |
Dan Valburg Director | Trustee | 1 | $3,575 |
Glen Yellow Eagle Director | Trustee | 1 | $7,975 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Besler Inc Construction Of Substation | 12/30/20 | $327,767 |
Rushmore Electric Power Coop Engineering | 12/30/20 | $129,541 |
Nisc Software/billing Services | 12/30/20 | $102,365 |
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 | $14,988,096 |
| Investment income | $405,088 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $30,998 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$791 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $15,423,391 |
| 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 | $1,177,520 |
| Compensation of current officers, directors, key employees. | $324,581 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $269,358 |
| Pension plan accruals and contributions | $2,319 |
| Other employee benefits | $95,713 |
| Payroll taxes | $146,807 |
| 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 | $74,031 |
| Advertising and promotion | $74,825 |
| Office expenses | $152,248 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $59,716 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,664 |
| Interest | $861,348 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,761,918 |
| Insurance | $0 |
| All other expenses | $499,021 |
| Total functional expenses | $15,423,391 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $517,253 |
| Savings and temporary cash investments | $5,837,307 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,129,916 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,192,786 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $34,333,128 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $8,844,267 |
| Intangible assets | $0 |
| Other assets | $269,281 |
| Total assets | $52,123,938 |
| Accounts payable and accrued expenses | $993,082 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $29,099,230 |
| Other liabilities | $3,426,647 |
| Total liabilities | $33,518,959 |
| 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 | $18,604,979 |
| Total liabilities and net assets/fund balances | $52,123,938 |