2025-09-29T14:06:41-05:00 2024-12-31 450250958 EIDE BAILLY LLP 345 N REID PL STE 400 SIOUX FALLS SD 571037034 990 2024-01-01 460221074 OAHE ELECTRIC COOPERATIVE INC OAHE 6059626243 PO BOX 216 BLUNT SD 57522 VALERIE MARSO CFO 6059626243 2025-09-29 1 1 LAURIE HANSON CPA P00851848 6053391999 2025-09-29 2024 2025-03-06 01:10:19Z JORDAN LAMB PO BOX 216 BLUNT SD 57522 30051335 0 X WWW.OAHEELECTRIC.COM X 1946 SD TO PROVIDE MEMBERS/OWNERS AND THE PUBLIC WITH HIGH QUALITY, COMPETITIVELY PRICED ELECTRIC SERVICE. 5 5 18 0 0 0 0 0 16282376 29735836 237945 287014 1979 -337 16522300 30022513 5796 6750 1508008 2225308 2210288 2598786 0 0 0 12798208 25191669 16522300 30022513 0 0 41850027 42822121 26320946 25595364 15529081 17226757 OAHE ELECTRIC COOPERATIVE'S MISSION IS TO PROVIDE MEMBERS/OWNERS AND THE PUBLIC WITH EXTRAORDINARY VALUE THROUGH COMPETITIVELY PRICED SERVICES AND PRODUCTS AND TO ENHANCE THE QUALITY OF LIFE AND CREATE GROWTH OPPORTUNITIES IN OUR SERVICE AREA. 0 0 PROVIDED ELECTRICITY TO APPROXIMATELY 3,385 RURAL ELECTRIC COOPERATIVE MEMBERS AND MAINTAINED 1,231 MILES OF OVERHEAD AND UNDERGROUND LINES. 0 0 0 0 0 0 0 1 0 1 1 1 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 101 0 1 18 1 0 0 0 0 0 28904415 727051 0 0 0 X 5 5 0 0 1 0 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 0 X VALERIE MARSO 6059626243 PO BOX 216 BLUNT SD 575220216 JAMES FELLER ASSISTANT SECRETARY 2.00 X X 13724 0 0 ROSS SPERRY SECRETARY 3.60 X X 14117 0 0 KIRK YACKLEY VICE PRESIDENT 1.50 X X 10298 0 0 RYAN NOYES TREASURER 1.10 X X 10841 0 0 BRANDON HAAG PRESIDENT 1.60 X X 13724 0 0 JORDAN LAMB CHIEF EXECUTIVE OFFICER 40.00 X 288299 0 56249 VALERIE MARSO CHIEF FINANCIAL OFFICER 40.00 X 143883 0 113181 MATTHEW ELDRIDGE CHIEF OPERATIONS OFFICER 40.00 X 142040 0 127526 MARK BRUNING LINE FOREMAN 40.00 X 113922 0 105318 BRADY GAER LINEMAN 40.00 X 119435 0 48878 AUSTIN BERGESON LINEMAN 40.00 X 123537 0 33245 TORY SMITH LINEMAN 40.00 X 110796 0 69790 1104616 0 554187 12 0 1 0 K & H ELECTRIC INC PO BOX 656 LINTON ND 58552 LINE CONSTRUCTION 276080 1 SALE OF POWER 221000 27926728 27926728 G&T CAPITAL CREDITS 221000 1800831 1800831 8277 8277 29735836 287014 287014 28485 28822 -337 -337 30022513 29735499 0 287014 6750 2225308 695437 1347507 426322 129520 656206 1097541 COST OF POWER 22630992 ADMIN & GENERAL 1157403 DISTRIBUTION-OPERATIONS 686437 DISTRIBUTION-MAINTENANC 648747 -1685657 30022513 5359387 2104011 2218411 1982178 1688161 1657630 76758 79249 36740158 12561255 21850727 24178903 1731763 2374930 8878459 10419874 46361 25346 41850027 42822121 4149855 3330303 16659 15725 20532676 19589361 1621756 2659975 26320946 25595364 X 0 0 0 0 15529081 17226757 15529081 17226757 41850027 42822121 X 0 1697676 X 0 1 X 1 0 0 1 X 11992 11992 1514108 502504 1011604 34987110 12058751 22928359 226948 226948 24178903 RURAL ELECTRIC ECONOMIC DEVELOPMENT, INC. 40000 C NATIONAL INFORMATION SOLUTIONS COOPERATIVE 46466 C ECONOMIC DEVELOPMENT LOAN 514032 C PATRONAGE CAPITAL ALLOCATIONS FROM NON-ASSOCIATED 24432 C SPECIAL FUNDS - REVENUE DEFERRAL 1750000 C 2374930 RURAL ELECTRIC SUPPLY COOPERATIVE 245619 C MEMBERSHIPS 1750 C FEDERATED RURAL ELECTRIC INSURANCE CORPORATION 71360 C NATIONAL RURAL UTILITIES COOPERATIVE FINANCE CORPORATION 531908 C EAST RIVER ELECTRIC POWER COOPERATIVE 9481056 C LAND HELD FOR FUTURE USE 88181 C 10419874 CUSTOMER DEPOSITS 862775 DEFERRED CREDITS 1797200 2659975 X 30022513 0 30022513 0 30022513 27797205 0 27797205 2225308 2225308 30022513 PART IV, LINE 2B: OPERATION ROUND UP FUNDS ARE HELD IN ESCROW ON THE BALANCE SHEET. OPERATION ROUND UP IS AN OPTIONAL PROGRAM FOR MEMBERS. EACH MONTH WHEN ELECTRIC BILLS ARE PREPARED, STATEMENTS ARE ROUNDED UP TO THE NEAREST WHOLE DOLLAR. THE DIFFERENCE BETWEEN THE BILLING AND THE ACTUAL COST OF CONSUMED ELECTRICITY FOR THE MONTH IS PLACED INTO A FUND. THIS MONEY IS THEN DISBURSED FOR CHARITABLE AND EDUCATIONAL PURPOSES. PART X, LINE 2: THE COOPERATIVE 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 COOPERATIVE WOULD RECOGNIZE FUTURE ACCRUED INTEREST AND PENALTIES RELATED TO UNRECOGNIZED TAX BENEFITS IN INCOME TAX EXPENSE IF SUCH INTEREST AND PENALTIES ARE INCURRED. PART XII, LINE 4B - OTHER ADJUSTMENTS: ALLOCATION OF 2024 MARGINS TO MEMBERS IN 2025 2,225,308. X 0 0 0 JORDAN LAMB CHIEF EXECUTIVE OFFICER 288299 0 0 0 0 0 33614 0 26172 0 348085 0 0 0 MATTHEW ELDRIDGE CHIEF OPERATIONS OFFICER 142040 0 0 0 0 0 104891 0 24677 0 271608 0 0 0 VALERIE MARSO CHIEF FINANCIAL OFFICER 143883 0 0 0 0 0 90545 0 24702 0 259130 0 0 0 MARK BRUNING LINE FOREMAN 113922 0 0 0 0 0 82682 0 24323 0 220927 0 0 0 TORY SMITH LINEMAN 110796 0 0 0 0 0 47154 0 24248 0 182198 0 0 0 BRADY GAER LINEMAN 119435 0 0 0 0 0 26242 0 24240 0 169917 0 0 0 AUSTIN BERGESON LINEMAN 123537 0 0 0 0 0 10609 0 24239 0 158385 0 0 0 SCHEDULE J, PART II, COLUMN C INCLUDED IN THE AMOUNT REPORTED IN COLUMN C IS $19,239 FOR THE CHANGE IN ACTUARIAL VALUE OF THE DEFINED BENEFIT PLAN FOR JORDAN LAMB. ACTUAL COOPERATIVE CONTRIBUTIONS TO THE PLAN WERE $84,728 FOR MR. LAMB. INCLUDED IN THE AMOUNT REPORTED IN COLUMN C IS $83,412 FOR THE CHANGE IN ACTUARIAL VALUE OF THE DEFINED BENEFIT PLAN FOR VALERIE MARSO. ACTUAL COOPERATIVE CONTRIBUTIONS TO THE PLAN WERE $43,412 FOR MS. MARSO. INCLUDED IN THE AMOUNT REPORTED IN COLUMN C IS $97,824 FOR THE CHANGE IN ACTUARIAL VALUE OF THE DEFINED BENEFIT PLAN FOR MATTHEW ELDRIDGE. ACTUAL COOPERATIVE CONTRIBUTIONS TO THE PLAN WERE $42,210 FOR MR. ELDRIDGE. INCLUDED IN THE AMOUNT REPORTED IN COLUMN C IS $77,340 FOR THE CHANGE IN ACTUARIAL VALUE OF THE DEFINED BENEFIT PLAN FOR MARK BRUNING. ACTUAL COOPERATIVE CONTRIBUTIONS TO THE PLAN WERE $32,401 FOR MR. BRUNING. INCLUDED IN THE AMOUNT REPORTED IN COLUMN C IS $21,202 FOR THE CHANGE IN ACTUARIAL VALUE OF THE DEFINED BENEFIT PLAN FOR BRADY GAER. ACTUAL COOPERATIVE CONTRIBUTIONS TO THE PLAN WERE $30,568 FOR MR. GAER. INCLUDED IN THE AMOUNT REPORTED IN COLUMN C IS $5,569 FOR THE CHANGE IN ACTUARIAL VALUE OF THE DEFINED BENEFIT PLAN FOR AUSTIN BERGESON. ACTUAL COOPERATIVE CONTRIBUTIONS TO THE PLAN WERE $30,568 FOR MR. BERGESON. INCLUDED IN THE AMOUNT REPORTED IN COLUMN C IS $42,114 FOR THE CHANGE IN ACTUARIAL VALUE OF THE DEFINED BENEFIT PLAN FOR TORY SMITH. ACTUAL COOPERATIVE CONTRIBUTIONS TO THE PLAN WERE $30,568 FOR MR. SMITH. FORM 990, PART VI, SECTION A, LINE 4 FOR THE PURPOSE OF ELECTION AND QUALIFICATION OF DIRECTORS, THE AREA COMPRISING OAHE COOPERATIVE, INC.'S TERRITORY WAS DIVIDED INTO TWO ZONES FROM WHICH THREE DIRECTORS ARE TO BE ELECTED, THEREBY INCREASING THE NUMBER OF DIRECTORS TO SIX. THE CHANGE IN NUMBER OF DIRECTORS WILL TAKE EFFECT WITH THE SEPTEMBER 13, 2025 ANNUAL MEETING. FORM 990, PART VI, SECTION A, LINE 6 ALL CUSTOMERS ARE MEMBERS OF THE COOPERATIVE. ALL MEMBERS HAVE ONE VOTE. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS VOTE AT THE ANNUAL MEETING TO ELECT DIRECTORS (GOVERNING BODY). FORM 990, PART VI, SECTION A, LINE 7B BYLAW CHANGES MUST BE APPROVED BY MEMBERS. FORM 990, PART VI, SECTION A, LINE 8B THE COOPERATIVE HAS NO COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 WILL BE REVIEWED BY THE CEO AND CFO. AFTER THEIR REVIEW, IT WILL BE DELIVERED TO EACH BOARD MEMBER VIA EMAIL OR PAPER COPY. BOARD MEMBERS WILL BE GIVEN SUFFICIENT TIME TO REVIEW THE 990. THE CEO OR CFO WILL PRESENT THE 990 AT A BOARD MEETING IF ANY BOARD MEMBER SO REQUESTS. THIS PROCESS WILL TAKE PLACE PRIOR TO THE FILING OF THE FORM 990. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY COVERS THE BOARD OF DIRECTORS, CEO, AND MANAGEMENT. EACH OFFICIAL MUST ANNUALLY COMPLETE AND SIGN THE CONFLICT OF INTEREST CERTIFICATION AND DISCLOSURE FORM ATTACHED TO THE POLICY. IF AN OFFICIAL DISCOVERS ANY INFORMATION OR FACT THAT COULD IMPACT ANOTHER OFFICIAL'S COMPLIANCE WITH THIS POLICY THEN THE OFFICIAL MUST DISCLOSE THE INFORMATION OR FACT TO THE PRESIDENT OR MANAGER IMMEDIATELY. IF A PERSON IS DETERMINED TO HAVE A CONFLICT OF INTEREST, THE BOARD MEMBER IS GIVEN 30 DAYS TO CORRECT THE SITUATION. IF THE SITUATION IS NOT RECTIFIED, THEN AS ALLOWED BY LAW THE BOARD MUST SANCTION, QUALIFY, AND/OR REMOVE THE DIRECTOR. IF THE CEO OR ANOTHER MEMBER OF MANAGEMENT HAS A CONFLICT OF INTEREST, THEY MUST REPORT THE CONFLICT AND ARE SUBJECT TO RULES SIMILAR TO THOSE OF BOARD MEMBERS. FORM 990, PART VI, SECTION B, LINE 15A THE CHIEF EXECUTIVE OFFICER'S COMPENSATION IS REVIEWED AND APPROVAL IS GIVEN BY THE BOARD OF DIRECTORS. IN ADDITION, COMPARABILITY DATA IS TAKEN INTO CONSIDERATION EVERY FEW YEARS. THE DIRECTORS' COMPENSATION IS SET VIA BOARD POLICY. COMPENSATION FOR THE CHIEF FINANCIAL OFFICER IS DETERMINED BY THE CHIEF EXECUTIVE OFFICER. AN ANNUAL SURVEY IS CONDUCTED AND A SALARY SURVEY IS USED TO DETERMINE AN APPROPRIATE SALARY RANGE. THE COMPENSATION PROCESS IS COMPLETED ANNUALLY. FORM 990, PART VI, SECTION C, LINE 19 THE DOCUMENTS ARE MADE AVAILABLE UPON PUBLIC REQUEST. FORM 990, PART XI, LINE 9: ALLOCATION OF 2024 MARGINS TO MEMBERS IN 2025 2,225,308. RETIREMENT OF CAPITAL CREDITS -527,632. 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. 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. FORM 990, PART IX, LINE 24E STATEMENT OF FUNCTIONAL EXPENSES: ALLOCATED AND OTHER EXPENSE: 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.