Kingsbury Electric Cooperative Inc

Nonprofit profile at a glance

EIN
460215043
IRS 990 coverage
2012–2024
Forms available
Form 990 2024
Location
De Smet, SD, USA
Phone
6058543522
Rating confidence
Limited

Official website

Reported finances

Revenue
$4,212,135
Expenses
$4,213,236
Assets
$12,513,905
Liabilities
$8,747,342

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

9 people listed

Executive titles in this filing

  • DEAN BJORKLUND (PRESIDENT)
  • ALAN VEDVEI (VICE PRESIDENT)

Highest reported compensation

  • EVAN BUCKMILLER (GENERAL MANAGER): $180,235 total reported compensation
  • RACHEL ANDERSON (CFO): $97,425 total reported compensation
  • DEAN BJORKLUND (PRESIDENT): $6,250 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The mission of kingsbury electric cooperative, inc. Is to provide the best possible electric service to all who desire it within the system's service area at the lowest price consistent with the highest standards of service; to develop and maintain a strong financial structure, providing adequate funding and capital to cover cooperative obligations and future development; to advise and inform members and employees of cooperative developments and operations; and to provide for safe and efficient operations of the system.

What it reported doing in 2024

Provided electric service to 905 members along 672.89 miles of electric line.

Operating model

Revenue model
Earned-program. 99% of the money available for current operations came from fees and other program 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

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 71
  • Accountability: 91
  • Sustainability: 43
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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; 63rd percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Fail
    • 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 33; 33rd percentile among comparable filings
  • Total-asset coverage ratio: 2.97; rating input score 73; 73rd percentile among comparable filings
  • Liabilities to assets ratio: 0.7; rating input score 13; 13th percentile among comparable filings
  • Officer compensation ratio: 7.3%; rating input score 40; 40th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 2.9% per year; rating input score 100; 26th percentile among comparable filings
  • Asset growth: 4.4% per year; rating input score 100; 31st percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 6 of 6 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $180K · 9 people listed · 2 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $196K reported
  • Consistency: 12 of 12 current checks pass
  • Schedules: 3 filed schedules · includes executive pay
  • Filing history: 12 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: 9 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.

  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • Moderate — Sustainability: Operating margin scored 33/100.
  • High — Sustainability: Liabilities to assets ratio scored 13/100.
  • Moderate — Sustainability: Officer compensation ratio scored 40/100.