2026-07-30T15:50:35-05:00 2025-12-31 450250958 EIDE BAILLY LLP 14010 FNB PKWY STE 600 OMAHA NE 681545206 990 2025-01-01 460121065 CODINGTON-CLARK ELECTRIC COOPERATIVE CODI 6058865848 3520 9TH AVE SW WATERTOWN SD 572017037 DAVID EIDE GENERAL MANAGER 6058865848 2026-07-16 1 MEGAN L KOZIOL CPA P01544037 4023302660 2026-07-16 2025 2025-03-06 01:10:19Z DAVID EIDE 3520 9TH AVE SW WATERTOWN SD 572017037 18023132 0 X WWW.CCELECTRIC.COOP X 1947 SD TO MAKE ELECTRIC ENERGY AVAILABLE TO OUR MEMBERS AT THE LOWEST POSSIBLE COST. 9 9 15 0 0 0 0 0 16365463 17746506 92306 144444 -24855 -39159 16432914 17851791 0 0 1301971 1446951 2007890 2185287 0 0 0 13123053 14219553 16432914 17851791 0 0 61679042 63481546 41250219 42124607 20428823 21356939 X OUR PURPOSE IS TO PROVIDE ELECTRIC ENERGY TO THE MEMBERSHIP. WE WILL: PROVIDE EXEMPLARY PERSONAL SERVICE; PRUDENTLY MANAGE REVENUE AND EXPENSES; OPERATE AND MAINTAIN SAFE AND RELIABLE DISTRIBUTION FACILITIES; PROVIDE REASONABLY PRICED ELECTRIC ENERGY; ENHANCE COMMUNITY MEMBER RELATIONSHIPS; MAINTAIN A SAFE AND GRATIFYING WORK ENVIRONMENT FOR EMPLOYEES; AND EMBRACE CHANGE THAT BENEFITS THE MEMBERSHIP. 0 0 PROVIDED ELECTRIC SERVICE TO APPROXIMATELY 2,554 MEMBERS. ADDED, RETIRED OR REPLACED APPROXIMATELY 18 MILES OF UNDERGROUND AND 17 MILES OF OVERHEAD LINE. 0 0 0 0 0 0 0 0 0 1 0 1 0 1 0 0 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 92 0 1 15 1 0 0 0 0 0 0 0 16854342 623807 0 0 0 X 9 9 0 0 0 0 1 1 1 1 0 0 0 1 0 0 1 1 1 0 X NATASHA TORGERSON 6058865848 3520 9TH AVENUE SW WATERTOWN SD 572017037 ALFRED SCHLEUSNER PRESIDENT 10.00 X X 3800 0 0 DANIEL THYEN VICE PRESIDENT 10.00 X X 7300 0 0 ROY GJERDE SECRETARY 10.00 X X 8000 0 0 JOHN RIDER TREASURER 10.00 X X 3100 0 0 RUSSELL HURLBERT DIRECTOR 10.00 X 5300 0 0 MICHAEL MELAND DIRECTOR 10.00 X 4400 0 0 DAVID WARKENTHIEN DIRECTOR 10.00 X 4400 0 0 BENJAMIN FLEMING DIRECTOR 10.00 X 4100 0 0 JAY FOSTER DIRECTOR (BEG 04/2025) 10.00 X 3500 0 0 RUSSELL FOSTER DIRECTOR (UNTIL 03/2025) 10.00 X 900 0 0 DAVID EIDE GENERAL MANAGER 45.00 X 182134 0 142167 JARED TERHARK DISTRIBUTION SYSTEM MANAGER 45.00 X 123543 0 60591 JAROD SUTTEN MEMBER SERVICES MANAGER 45.00 X 110820 0 60463 JAMES HATTON CREW LEADER 40.00 X 108608 0 48311 NATASHA TORGERSON OFFICE SERVICES MANAGER 45.00 X 105732 0 57015 RHYAN KOCH LEAD LINE WORKER 40.00 X 102920 0 49707 778557 0 418254 8 0 1 0 LARSON DIGGING INC 601 S 7TH ST MILBANK SD 57252 CONTRACTUAL WORK 207649 ENGELSTAD ELECTRIC 602 ARROW AVE NE WATERTOWN SD 57201 CONTRACTUAL WORK 139574 2 SALE OF ELECTRICITY 221000 16838306 16838306 CO-OP CAPITAL CREDITS 221000 835797 835797 OTHER CAPITAL CREDITS 221000 72403 72403 17746506 144444 144444 132182 171341 -39159 -39159 17851791 17707347 0 144444 X 1446951 1183987 703928 186289 111083 14760 25034 1389 65777 109869 2630 42692 1079700 1676290 COST OF PURCHASED POWER 10864142 DISTRIBUTION EXP: OPERA 343889 TAX EXPENSE - KWH 268777 ADMINISTRATIVE & GENERA 187875 -463271 17851791 3378334 3202146 1496456 1579229 1939164 2135061 5961 15484 65792021 20197703 44400070 45594318 87320 93629 10294490 10802267 77247 59412 61679042 63481546 1653118 1867613 33396087 33847043 1335271 2020472 4865743 4389479 41250219 42124607 X 0 0 0 0 20428823 21356939 20428823 21356939 61679042 63481546 X 0 928116 X X 0 0 0 74032 74032 2787638 974124 1813514 3479137 2747870 731267 59451214 16475709 42975505 45594318 PATRONAGE FROM ASSOCIATED CO-OPS 9963059 C CAPITAL TERM CREDITS - SUPPLEMENTAL FINANCING 304727 C INVESTMENTS IN ASSOCIATED ORGANIZATIONS - OTHER 311269 C PATRONAGE CAPITAL FROM SUPPLEMENTAL FINANCING 173563 C PATRONAGE CAPITAL FROM ASSOCIATED ORGANIZATIONS 47349 C MEMBERSHIP FEES IN ASSOCIATED ORGANIZATIONS - OTHER 2300 C 10802267 REGULATORY LIABILITIES 3026284 OTHER DEFERRED CREDITS 1331920 CUSTOMER DEPOSITS 31275 4389479 X PART X, LINE 2: THE COOPERATIVE IS AUDITED ON A FISCAL YEAR BASIS. ITS MOST RECENT AUDIT WAS FOR THE YEAR ENDED OCTOBER 31, 2025. THE FOLLOWING UNCERTAIN TAX POSITION NOTE WAS INCLUDED IN THE AUDIT REPORT. CODINGTON-CLARK ELECTRIC COOPERATIVE, INC. HAS EVALUATED WHETHER IT WAS NECESSARY TO RECOGNIZE ANY BENEFIT FROM UNCERTAIN TAX POSITIONS IN CURRENTLY OPEN TAX PERIODS AND DETERMINED THAT THERE ARE NO MATERIAL UNCERTAINTIES WITHIN ITS FILED TAX RETURNS. THE COOPERATIVE IS SUBJECT TO INCOME TAX ON ITS UNRELATED BUSINESS INCOME ON FEDERAL FORM 990T. THE COOPERATIVE HAD NO PROVISION FOR INCOME TAXES ON UNRELATED BUSINESS INCOME INCLUDED WITH NON-OPERATING MARGINS FOR THE TWELVE MONTH PERIODS ENDED OCTOBER 31, 2025 AND 2024. THE COOPERATIVE BELIEVES IT HAS APPROPRIATE EVIDENCE 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. X 1 1 X X 0 0 0 DAVID EIDE GENERAL MANAGER 181931 0 203 0 0 0 108912 0 35382 0 326428 0 0 0 JARED TERHARK DISTRIBUTION SYSTEM MANAGER 123326 0 217 0 0 0 27433 0 34695 0 185671 0 0 0 JAROD SUTTEN MEMBER SERVICES MANAGER 110603 0 217 0 0 0 27305 0 34572 0 172697 0 0 0 NATASHA TORGERSON OFFICE SERVICES MANAGER 105515 0 217 0 0 0 23557 0 34872 0 164161 0 0 0 JAMES HATTON CREW LEADER 108391 0 217 0 0 0 15153 0 34469 0 158230 0 0 0 RHYAN KOCH LEAD LINE WORKER 102703 0 217 0 0 0 16550 0 34411 0 153881 0 0 0 PART I, LINE 1A THE COOPERATIVE HAS A WELLNESS PLAN WHICH OFFERS A COST SHARE BENEFIT OF WELLNESS CENTER DUES AND INITIATION FEES. THIS BENEFIT IS OFFERED TO ALL EMPLOYEES. EMPLOYEES ARE REIMBURSED FOR ANY INITIATION FEES IF A RECEIPT FROM THE WELLNESS CENTER IS PROVIDED. DUES ARE REIMBURSED VIA PAYROLL PROVIDED THE EMPLOYEES USE THE FACILITIES A PREDETERMINED NUMBER OF TIMES THROUGHOUT THE YEAR. PART II, COLUMN (C): THE AMOUNT REPORTED IN COLUMN (C) RETIREMENT AND OTHER DEFERRED COMPENSATION INCLUDES THE ACTUARIAL VALUE OF THE RETIREMENT PLAN, NOT THE AMOUNT PAID BY THE COOPERATIVE. FORM 990, PART VI, SECTION A, LINE 6 ANY PERSON, FIRM, ASSOCIATION, CORPORATION OR BODY POLITIC OR SUBDIVISION THEREOF WILL BECOME A MEMBER OF CODINGTON-CLARK ELECTRIC COOPERATIVE, INC. (HEREINAFTER CALLED THE "COOPERATIVE") UPON RECEIPT OF ELECTRIC SERVICE FROM THE COOPERATIVE, PROVIDED THAT IT HAS FIRST (A) MADE A WRITTEN APPLICATION FOR MEMBERSHIP THEREIN; (B) AGREED TO PURCHASE FROM THE COOPERATIVE ELECTRIC ENERGY AS HEREINAFTER SPECIFIED; (C) AGREED TO COMPLY WITH AND BE BOUND BY THE ARTICLES OF INCORPORATION AND BYLAWS OF THE COOPERATIVE AND ANY RULES AND REGULATIONS ADOPTED BY THE BOARD. FORM 990, PART VI, SECTION A, LINE 7A EACH MEMBER OF THE COOPERATIVE PRESENT AT THE ANNUAL MEETING SHALL BE ENTITLED TO VOTE FOR ONE CANDIDATE FROM EACH DISTRICT FROM WHICH A DIRECTOR IS TO BE ELECTED. FORM 990, PART VI, SECTION A, LINE 7B THE COOPERATIVE MAY NOT SELL, LEASE, OR OTHERWISE DISPOSE OF ALL OR A SUBSTANTIAL PORTION OF ITS PROPERTY, UNLESS SUCH A SALE, LEASE, OR OTHER DISPOSITION IS AUTHORIZED BY THE AFFIRMATIVE VOTE OF NOT LESS THAN A MAJORITY OF ALL MEMBERS OF THE COOPERATIVE. THE BYLAWS MAY BE ALTERED, AMENDED, OR REPEALED BY THE MEMBERS AT ANY REGULAR OR SPECIAL MEETING, PROVIDED THE NOTICE OF SUCH MEETING SHALL HAVE CONTAINED A COPY OF THE PROPOSED ALTERATION, AMENDMENT OR REPEAL. FORM 990, PART VI, SECTION A, LINE 8B THE ORGANIZATION DOES NOT HAVE COMMITTEES WITH THE BROAD AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B PRIOR TO FILING WITH THE IRS, THE FORM 990 IS PRESENTED AT A REGULARLY SCHEDULED BOARD MEETING AND A BRIEF OVERVIEW IS GIVEN TO ALL DIRECTORS. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF DIRECTORS REVIEW AND APPROVE THE COMPENSATION PLAN ANNUALLY. THE BOARD USES A MARKET SURVEY TO COMPARE COMPENSATION FOR SIMILARLY QUALIFIED PERSONS IN FUNCTIONALLY COMPARABLE POSITIONS AT SIMILARLY SITUATED ORGANIZATIONS. CONTEMPORANEOUS DOCUMENTATION AND RECORD KEEPING FOR DELIBERATIONS AND DECISIONS REGARDING THE COMPENSATION ARRANGEMENTS ARE KEPT. A FORMAL WRITTEN PLAN IS CREATED BASED ON MARKET SURVEY. FORM 990, PART VI, SECTION C, LINE 19 A COPY OF THE YEAR END FINANCIAL STATEMENT IS PROVIDED TO ALL MEMBERS AT THE ANNUAL MEETING. A COPY OF THE BYLAWS IS GIVEN TO ALL MEMBERS WITH THE NEW MEMBERSHIP PACKET. THESE ITEMS ARE ALSO AVAILABLE UPON REQUEST. 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: RETIREMENT OF CAPITAL CREDITS -547,849. GAIN ON CAPITAL CREDIT RETIREMENTS 19,568. UNCLAIMED CAPITAL CREDITS 9,446. ALLOCATION OF 2025 MARGINS IN 2026 1,446,951. FORM 990, PART XII, LINE 2B: THE FINANCIAL STATEMENTS OF THE COOPERATIVE WERE AUDITED BY AN INDEPENDENT AUDITOR AS OF THE FISCAL YEAR END 10/31/2025. FORM 990, PART I, LINE 19 REVENUE LESS EXPENSES: THE 2025 REVENUE LESS EXPENSE EQUALS $0 BECAUSE ALLOCABLE CAPITAL FOR THE CURRENT YEAR IS A DEDUCTION FROM EXPENSE FOR FORM 990 PURPOSES. THE COOPERATIVE OPERATES ON A NONPROFIT BASIS. AMOUNTS RECEIVED FROM FURNISHING ELECTRIC ENERGY IN EXCESS OF OPERATING COSTS AND EXPENSES ARE ALLOCATED TO MEMBERS ON A PATRONAGE BASIS. ALL OTHER AMOUNTS RECEIVED BY THE COOPERATIVE FROM ITS OPERATIONS IN EXCESS OF COSTS AND EXPENSES ARE ALSO ALLOCATED TO ITS MEMBERS ON A PATRONAGE BASIS TO THE EXTENT THEY ARE NOT NEEDED TO OFFSET CURRENT OR PRIOR DEFICITS. ALLOCABLE MARGINS ARE REPORTED ON PART IX, LINE 4, BENEFITS PAID TO OR FOR MEMBERS.