Civic Intelligence

West River Electric Assn Inc

EIN 46-0204517 • 501(c)12 • Wall, SD

Profile

To serve our members best interests.

PO Box 412Wall, SD 57790

www.westriver.com

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

87th percentile

0.68x

Higher debt load relative to assets than 87% of similar nonprofits.

501(c)12 • $100M-$250M nonprofits • Source year 2024

Liabilities / Revenue

88th percentile

2.49x

Higher debt load relative to revenue than 88% of similar nonprofits.

501(c)12 • $100M-$250M nonprofits • Source year 2024

Net Margin

56th percentile

0.7%

Higher net margin than 56% of similar nonprofits.

501(c)12 • $100M-$250M nonprofits • Source year 2024

Top Officer Pay

74th percentile

$534,798

Higher top officer pay than 74% of similar nonprofits.

Top officer pay equals 1.1% of source-year revenue.

$100M-$250M nonprofits • Source year 2024

Asset Growth

81st percentile

9.1%

Faster asset growth than 81% of similar nonprofits.

501(c)12 • $100M-$250M nonprofits • Annualized from 2023 to 2024

Revenue Growth

69th percentile

6.6%

Faster revenue growth than 69% of similar nonprofits.

501(c)12 • $100M-$250M nonprofits • Annualized from 2023 to 2024

Assets

Up

$179,291,218

Up $14,955,510 (+9.1%) from 2023

Liabilities

Up

$122,031,313

Up $10,954,268 (+9.9%) from 2023

Net Assets

Up

$57,259,905

Up $4,001,242 (+7.5%) from 2023

Revenue

Up

$48,956,741

Up $3,046,817 (+6.6%) from 2023

Expenses

Up

$48,601,686

Up $3,064,162 (+6.7%) from 2023

Net Income

Down

$355,055

Down $17,345 (-4.7%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$200M$150M$100M$50M$0Assets 2010: $85,210,843Liabilities 2010: $60,201,000Net Assets 2010: $25,009,8432010Assets 2011: $91,190,703Liabilities 2011: $64,890,824Net Assets 2011: $26,299,8792011Assets 2012: $93,576,918Liabilities 2012: $65,829,749Net Assets 2012: $27,747,1692012Assets 2013: $111,004,278Liabilities 2013: $81,024,280Net Assets 2013: $29,979,9982013Assets 2014: $112,824,558Liabilities 2014: $80,598,258Net Assets 2014: $32,226,3002014Assets 2015: $113,764,613Liabilities 2015: $79,680,394Net Assets 2015: $34,084,2192015Assets 2016: $116,298,732Liabilities 2016: $79,153,152Net Assets 2016: $37,145,5802016Assets 2017: $118,661,041Liabilities 2017: $80,111,961Net Assets 2017: $38,549,0802017Assets 2018: $124,300,144Liabilities 2018: $82,381,034Net Assets 2018: $41,919,1102018Assets 2019: $124,622,548Liabilities 2019: $80,923,078Net Assets 2019: $43,699,4702019Assets 2020: $132,513,692Liabilities 2020: $87,690,338Net Assets 2020: $44,823,3542020Assets 2021: $136,764,788Liabilities 2021: $90,043,939Net Assets 2021: $46,720,8492021Assets 2022: $152,133,230Liabilities 2022: $103,697,703Net Assets 2022: $48,435,5272022Assets 2023: $164,335,708Liabilities 2023: $111,077,045Net Assets 2023: $53,258,6632023Assets 2024: $179,291,218Liabilities 2024: $122,031,313Net Assets 2024: $57,259,9052024

Highlighted filing

2024

Assets$179,291,218
Liabilities$122,031,313
Net Assets$57,259,905

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$60M$40M$20M$0Expenses 2010: $22,728,3732010Revenue 2011: $26,968,412Expenses 2011: $26,805,305Net Income 2011: $163,1072011Expenses 2012: $28,447,3452012Revenue 2013: $31,883,222Expenses 2013: $31,566,170Net Income 2013: $317,0522013Revenue 2014: $33,236,459Expenses 2014: $32,934,885Net Income 2014: $301,5742014Revenue 2015: $33,366,095Expenses 2015: $33,123,245Net Income 2015: $242,8502015Revenue 2016: $36,964,403Expenses 2016: $36,598,751Net Income 2016: $365,6522016Revenue 2017: $38,136,791Expenses 2017: $37,752,781Net Income 2017: $384,0102017Revenue 2018: $41,668,402Expenses 2018: $41,215,689Net Income 2018: $452,7132018Revenue 2019: $40,082,661Expenses 2019: $39,573,308Net Income 2019: $509,3532019Revenue 2020: $38,896,157Expenses 2020: $38,514,538Net Income 2020: $381,6192020Revenue 2021: $38,874,089Expenses 2021: $38,568,743Net Income 2021: $305,3462021Revenue 2022: $44,777,288Expenses 2022: $44,530,791Net Income 2022: $246,4972022Revenue 2023: $45,909,924Expenses 2023: $45,537,524Net Income 2023: $372,4002023Revenue 2024: $48,956,741Expenses 2024: $48,601,686Net Income 2024: $355,0552024

Highlighted filing

2024

Revenue$48,956,741
Expenses$48,601,686
Net Income$355,055

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$179$122$57.3$49.0$48.6$0.36
2023Detailed filing. Detailed filing data is available for this year.$164$111$53.3$45.9$45.5$0.37
2022Detailed filing. Detailed filing data is available for this year.$152$104$48.4$44.8$44.5$0.25
2021Detailed filing. Detailed filing data is available for this year.$137$90.0$46.7$38.9$38.6$0.31
2020Detailed filing. Detailed filing data is available for this year.$133$87.7$44.8$38.9$38.5$0.38
2019Detailed filing. Detailed filing data is available for this year.$125$80.9$43.7$40.1$39.6$0.51
2018Detailed filing. Detailed filing data is available for this year.$124$82.4$41.9$41.7$41.2$0.45
2017Detailed filing. Detailed filing data is available for this year.$119$80.1$38.5$38.1$37.8$0.38
2016Detailed filing. Detailed filing data is available for this year.$116$79.2$37.1$37.0$36.6$0.37
2015Detailed filing. Detailed filing data is available for this year.$114$79.7$34.1$33.4$33.1$0.24
2014Detailed filing. Detailed filing data is available for this year.$113$80.6$32.2$33.2$32.9$0.30
2013Detailed filing. Detailed filing data is available for this year.$111$81.0$30.0$31.9$31.6$0.32
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$93.6$65.8$27.7$28.4
2011Summary only. Only limited summary data is available for this year.$91.2$64.9$26.3$27.0$26.8$0.16
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$85.2$60.2$25.0$22.7
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Jul 22, 2025
Return Version
2024v5.2
Gross Receipts
$49,777,397
Mission and Program Overview

Mission

To provide safe, reliable, efficient, and reasonably priced electricity and services, while leading in the development of our community for the well being of our members.

Cooperative - electricity to members

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$131,559,052$143,012,081▲ $11,453,029
Rtn Earn Endowment Incm Other Fnds$53,258,663$57,259,905▲ $4,001,242
Investments Program Related$20,003,711$20,845,990▲ $842,279
Inventories for Sale or Use$4,752,868$6,150,897▲ $1,398,029
Accounts Receivable$4,620,149$5,274,725▲ $654,576
Savings and Temporary Cash Investments$1,489,336$3,099,583▲ $1,610,247
Investments Other Securities$1,607,444$625,444▼ $982,000
Prepaid Expenses and Deferred Charges$129,103$211,693▲ $82,590
Other Notes and Loans Receivable, Net$142,500$52,500▼ $90,000
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$164,335,708$179,291,218▲ $14,955,510
Other Assets Total$31,545$18,305▼ $13,240
Liabilities
Mortgage Notes Payable Secured by Investment Property$103,376,713$116,378,447▲ $13,001,734
Accounts Payable and Accrued Expenses$3,917,785$4,240,126▲ $322,341
Unsecured Notes Loans Payable$1,500,000$0▼ $1,500,000
Other Liabilities$2,265,474$1,394,897▼ $870,577
Escrow Account Liability$17,073$17,843▲ $770
Total Liabilities$111,077,045$122,031,313▲ $10,954,268
Net Assets / Fund Balance
Total Net Assets Fund Balance$53,258,663$57,259,905▲ $4,001,242
Total Liabilities and Net Assets / Fund Balance$164,335,708$179,291,218▲ $14,955,510

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$116,858,790$42,154,490$159,013,280
Equipment$15,229,891$6,825,846$22,055,737
Buildings$10,033,179$6,206,801$16,239,980
Land$890,221-$890,221
Investment Program Related Org$14,005--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Richard JohnsonCEO / General ManagerFT$303,605$232,997$536,602
Dawn HilgenkampCFO / Manager of FinanceFT$159,819$120,670$280,489
Mike LetcherOperations ManagerFT$172,685$71,757$244,442
Robert RakerManager of CommunicationFT$137,400$77,031$214,431
Jenny PattersonOffice ManagerFT$141,940$66,435$208,375
Lance SteigerStaking ForemanFT$138,341$60,829$199,170
Lucas SchreursJourneyman LinemanFT$144,113$24,196$168,309
Charles SloanTreasurerPT$16,425$10$16,435
Andy MoonPresidentPT$16,350$10$16,360
Sue PetersDirectorPT$16,100$10$16,110
Marcia ArnesonDirectorPT$16,000$10$16,010
Stan AndersVice-presidentPT$14,525$10$14,535
Jamie LewisSecretaryPT$13,300$10$13,310
Peter BlakeDirector-$13,075$10$13,085
Larry EisenbraunDirectorPT$12,950$6$12,956
Howard KnuppeDirector (end Oct)-$12,175$5$12,180
Steven EdoffDirector (beg Oct)-$3,150$2$3,152

Highest Paid Contractors

ContractorServicesLocationCompensation
Kainz Powerlines INCLine ConstructionPO BOX 748, Custer, SD 57730$2,122,893
Besler INCBuild SubstationsPO BOX 1527, Rapid City, TX 57709$986,153
Rcs Construction INCBuild Substations1314 FOUNTAIN PLAZA DRIVE, Rapid City, SD 57702$514,610
Asplundh Tree Expert CoTree Trimming708 BLAIR MILL ROAD, Willow Grove, PA 19090$262,585
Accurate Locating ServiceUnderground Locating3606 HWY 44 5, Rapid City, SD 57703$204,733
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$48,647,733
Investment Income
$210,353
Other Revenue
$98,655
Change in Net Assets
$355,055

Audited Revenue Reconciliation

Revenue per Audited Statements
$48,956,741
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$37,529
Total Revenue per Audited Statements
$48,994,270
Total Revenue per Form 990
$48,956,741
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$35,393,420
Salaries, Compensation, and Employee Benefits$8,552,657
Grants and Similar Amounts Paid$67,479
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$5,853,398
Depreciation Depletion---$5,309,010
Benefits to Members---$4,588,130
Interest---$3,735,459
Other Expenses---$1,779,043
Pension Plan Contributions---$1,430,987
Current Officers, Directors, Trustees, and Key Employees---$792,705
Payroll Taxes---$475,567
Grants to Domestic Orgs---$67,479
All Other Expenses---$-1,081,921
Total Functional Expenses$0$0$0$48,601,686

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$48,601,686
Total Expenses per Audited Statements$44,051,085
Expenses per Audited Statements$44,005,039
Expenses Not Reported on Financial Statements$4,596,647
Other Expense Adjustments$4,596,647
Expenses Not Reported on Form 990$46,046
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Sd Ellsworth DevelopmentRapid City, SD-Sponsorship$10,000
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Deferred Credits$482,500
Customer Deposits$464,736
Postretirement Benefits$437,379
Lease Liability$10,282
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 6

1 class of members. All cooperative members with equal voting rights.

Form 990, Part VI, Section A, Line 7A

All members have equal voting rights to vote for members of the board.

Form 990, Part VI, Section A, Line 7B

Bylaws and articles of incorporation changes must be approved by the membership.

Form 990, Part VI, Section A, Line 8B

There are no committees with authority to act on behalf of the governing body.

Form 990, Part VI, Section B, Line 11B

Review will be done at the regular board meeting prior to signing the final form. The general manager and director of finance will review the form 990 with the board.

Form 990, Part VI, Section B, Line 12C

All directors and employees are covered under the conflict of interest policy. The board of directors is responsible for the determination of whether a conflict exists, and for review of potential conflicts. Board members with conflicts of interest must abstain from discussion and voting on the item. Directors are asked annually to document any conflicts they may have.

Form 990, Part VI, Section B, Line 15

An independent consultant, utilizing national and regional wage information for each position within the cooperative, provides a recommendation for compensation to the board of directors. The board reviews the recommendations and provides final approval. The process is completed on an annual basis.

Form 990, Part VI, Section C, Line 19

Available upon request and on our website.

FORM 990, PART VII, COLUMN F, OTHER COMPENSATION:

Included in other compensation is the estimated current year increase or decrease in the actuarial value of the defined benefit plan for the ceo/general manager, cfo/manager of finance, manager of operations, marketing manager, office services manager, staking foreman and construction project manager. The current year increase or decrease does not represent current year contributions to the plan. Rather, it is an estimate of the increase or decrease in the actuarial value of the plan as calculated by the plan administrator.

Filing and Contact Details

Filer

Filer Name
West River Electric Assn Inc
EIN
46-0204517
Phone
6052792135
Address
PO BOX 412, WALL, SD 57790

Signing Officer

Name
Robert Raker
Title
CEO/general Manager
Phone
6052792135
Signed
2025-07-22
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Robert Raker
Formed
1939
Legal Domicile
Sd
Voting Board Members
9
Independent Board Members
9
Employees
63
Volunteers
0

Preparer

Firm
Eide Bailly Llp
Address
345 N REID PL STE 400, SIOUX FALLS, SD 57103-7034
Preparer
Laurie Hanson CPA
Phone
6053391999
Supplemental Narrative

Additional Explanations

FORM 990, PART IX, LINE 24E STATEMENT OF FUNCTIONAL EXPENSES:

The labor, pension and payroll taxes reported on lines 5-10 are included in distribution expense, administrative & general expense and customer expense. Therefore, labor, pension and payroll taxes are shown as a reduction to other expenses on line 24e.

FORM 990, PART IX, LINE 4, BENEFITS PAID TO OR FOR MEMBERS:

The cooperative has interpreted the instructions to part ix, line 4, to mean patronage capital allocated for the year, rather than patronage capital retired. This is consistent with the by-laws of the cooperative.

FORM 990, PART XI, LINE 9:

Allocation of 2024 margins to members in 2025 4,588,130. Retirement of capital credits -941,943.

Financial Statement Notes

PART IV, LINE 2B:

The cooperative collects money from members for the west river charitable trust inc. The trust has a separate board of directors that is responsible for distributing the funds.

PART X, LINE 2:

The association 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 association would recognize future accrued interest and penalties related to the unrecognized tax benefits in income tax expense if such interest and penalties are incurred.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Interest expense attributed to rental property 41,952. Reclassification of taxes -8,517. Other rental expenses 4,094.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Interest expense attributed to rental property 41,952. Other rental expenses 4,094.

PART XII, LINE 4B - OTHER ADJUSTMENTS:

Allocation of 2024 margins to members in 2025 4,588,130. Reclassification of taxes 8,517.

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IRS990/Form990PartVIISectionAGrp/TitleTxt1VICE-PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt2SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt3TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR (END OCT)
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR (BEG OCT)
IRS990/Form990PartVIISectionAGrp/TitleTxt10CEO / GENERAL MANAGER
IRS990/Form990PartVIISectionAGrp/TitleTxt11CFO / MANAGER OF FINANCE
IRS990/Form990PartVIISectionAGrp/TitleTxt12OPERATIONS MANAGER
IRS990/Form990PartVIISectionAGrp/TitleTxt13JOURNEYMAN LINEMAN
IRS990/Form990PartVIISectionAGrp/TitleTxt14OFFICE MANAGER
IRS990/Form990PartVIISectionAGrp/TitleTxt15STAKING FOREMAN
IRS990/Form990PartVIISectionAGrp/TitleTxt16MANAGER OF COMMUNICATION
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