H-d Electric Cooperative Inc

Nonprofit profile at a glance

EIN
460212565
IRS 990 coverage
2020–2025
Forms available
Form 990 2025
Location
Clear Lake, SD, USA
Phone
6058742171
Rating
46
Verdict
MIXED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$17,602,359
Expenses
$17,602,359
Assets
$52,410,510
Liabilities
$34,654,641

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

18 people listed

Executive titles in this filing

  • BERT ROGNESS (DIRECTOR-PRESIDENT)
  • TERRY STROHFUS (DIRECTOR-VICE PRESIDENT)

Highest reported compensation

  • MATTHEW HOTZLER (GENERAL MANAGER): $327,168 total reported compensation
  • TROY KWASNIEWSKI (OPERATIONS MANAGER): $270,048 total reported compensation
  • ANNETTE ABERLE (FINANCE ADMIN MANAGER): $244,087 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Committed to safely enhance the quality of life for our members employees and communities.

What it reported doing in 2025

Provided electric service to approximately 2,975 members. Connected 58 new services. Constructed retired and maintained overhead & underground electric distributions lines.

Operating model

Revenue model
Other-operating. 99% of the money available for current operations came from other operating revenue.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

MIXED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 0
  • Transparency & Controls: 71
  • Accountability: 100
  • Sustainability: 35
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: 0%; rating input score 0
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 0%; rating input score 23; 23rd percentile among comparable filings
  • Total-asset coverage ratio: 2.98; rating input score 66; 66th percentile among comparable filings
  • Liabilities to assets ratio: 0.66; rating input score 16; 16th percentile among comparable filings
  • Officer compensation ratio: 10.3%; rating input score 23; 23rd percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 7.3% per year; rating input score 100; 59th percentile among comparable filings
  • Asset growth: 5.5% per year; rating input score 100; 38th percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 9 of 9 board members independent · 9 of 9 filing controls reported
  • Programs: 3 filed program accomplishments
  • Leadership: top reported pay $327K · 18 people listed · 2 of 6 pay-setting controls reported
  • Consistency: 23 of 43 current checks pass · 20 findings to review
  • Schedules: 3 filed schedules · includes executive pay
  • Filing history: 6 filing years from 2020 to 2025
  • Contacts: How to reach this organization
  • Money network: 18 filed money-flow records
  • Related organizations: Filed and resolved organization relationships.
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • High — Sustainability: Operating margin scored 23/100.
  • High — Sustainability: Liabilities to assets ratio scored 16/100.
  • High — Sustainability: Officer compensation ratio scored 23/100.
  • Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Part IX Advertising column sum did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Part IX AllOtherExpenses column sum did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Part IX BenefitsToMembers column sum did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Part IX CompCurrentOfficersDirectors column sum did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Part IX DepreciationDepletion column sum did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Part IX FeesForServicesAccounting column sum did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Part IX FeesForServicesLegal column sum did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Part IX FeesForServicesOther column sum did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Part IX GrantsToDomesticIndividuals column sum did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Part IX InformationTechnology column sum did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Part IX Interest column sum did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Part IX Occupancy column sum did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Part IX OfficeExpenses column sum did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Part IX OtherEmployeeBenefits column sum did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Part IX OtherSalariesAndWages column sum did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Part IX PaymentsToAffiliates column sum did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Part IX PayrollTaxes column sum did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Part IX PensionPlanContributions column sum did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Part IX Travel column sum did not reconcile in the filed values.