DAKOTA ELECTRIC ASSOCIATION (EIN 410212180) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1937

Legal Domicile

Principal Officer

RYAN HENTGES

Phone

8008743409

Tax Period

2023-01-01 to 2023-12-31

DAKOTA ELECTRIC ASSOCIATION, founded in 1937, is a major nonprofit that reported $231.6M in total revenue in fiscal year 2023. Expenses of $221.6M left a modest 4% surplus.

Mission

ELECTRIC DISTRIBUTION COOP

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $231,356,885

Investment Income $193,148

Other Revenue $16,272

TOTAL REVENUE $231,566,305

Expense Breakdown

Grants Paid $506,410

Salaries & Benefits $24,517,893

Fundraising Expenses $0

Other Expenses $194,006,961

TOTAL EXPENSES $221,568,956

Year-over-Year Comparison

	2023	2022	Change
Revenue	$231,566,305	$219,708,380	+0.1%
Expenses	$221,568,956	$216,108,429	+0.0%
Net Income	$9,997,349	$3,599,951	+1.8%

Key Indicators

✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

222

Volunteers

N/A

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$1,529,680

Total Directors

$400,050

Key Employees

$1,233,267

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
PAUL BAKKEN	CHAIR	25.00	Officer Director	$45,320	$0	$45,320
TERRENCE DONNELLY	SECRETARY	14.00	Officer Director	$34,850	$0	$34,850
GERALD PITTMAN JR	TREASURER	15.00	Officer Director	$34,850	$0	$34,850
CLAY VAN DE BOGART	DIRECTOR/VICE CHAIR (BEG MAY)	17.00	Officer Director	$34,850	$0	$34,850
KENNETH DANNER	DIRECTOR	14.00	Director	$34,850	$0	$34,850
JOHN JACK DEYOE	DIRECTOR	22.00	Director	$34,850	$0	$34,850
CYNTHIA FIELDS	DIRECTOR (BEG AUG)	14.00	Director	$14,750	$0	$14,750
JENNIFER HOEFT	DIRECTOR (BEG APR)	8.00	Director	$26,330	$0	$26,330
DAVID JONES	DIRECTOR	20.00	Director	$34,850	$0	$34,850
BILL MIDDLECAMP	VICE CHAIR/DIRECTOR (BEG MAY)	16.00	Officer Director	$34,850	$0	$34,850
STACY MILLER	DIRECTOR	12.00	Director	$34,850	$0	$34,850
MARGARET SCHREINER	DIRECTOR	18.50	Director	$34,850	$0	$34,850
GREG MILLER	PRESIDENT/CEO (END MAY)	40.00	Officer	$289,527	$19,695	$309,222
RYAN HENTGES	PRESIDENT/CEO (BEG MAY)	40.00	Officer	$372,247	$66,736	$438,983
COREY HINTZ	VP-FINANCIAL SERVICES/CFO	40.00	Officer	$241,605	$69,246	$310,851
MICHAEL NELSON	VP-INFORMATION SERVICES/CIO	40.00	Officer	$257,571	$28,333	$285,904
JONATHON BEYER	VP-ENERGY & MEMBER SERVICES	40.00	Key Emp	$224,125	$54,491	$278,616
ADAM HEINEN	VP-REGULATORY SERVICES	40.00	Key Emp	$200,567	$64,764	$265,331
BETTY JO KIESOW	VP-ENGINEERING SERVICES	40.00	Key Emp	$254,662	$151,339	$406,001
JEFFREY SCHOENECKER	VP-UTILITY SERVICES	40.00	Key Emp	$258,442	$24,877	$283,319
GRANT BAUMBERGER	FACILITIES & TECH SERV MGR	40.00	Highest	$176,798	$82,558	$259,356
JOHN BERGE	GRID MODERNIZATION MANAGER	40.00	Highest	$155,451	$57,357	$212,808
CARLA HENKE	CORPORATE CONTROLLER	40.00	Highest	$180,570	$72,275	$252,845
JOHN THURMES	CONTROL CENTER MANAGER	40.00	Highest	$178,457	$76,610	$255,067
CRAIG TURNER	SR. PRINCIPAL & REGULATORY ENGINEER	40.00	Highest	$176,374	$117,357	$293,731

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	No data	No data	No data	No data
2023	$231,566,305	$221,568,956	$407,291,057	$9,997,349
2022	$219,708,380	$216,108,429	$393,498,407	$3,599,951
2021	$228,776,645	$219,328,463	$386,937,429	$9,448,182
2020	$215,303,451	$210,994,820	$361,658,740	$4,308,631
2019	$207,935,201	$203,320,427	$344,083,597	$4,614,774
2018	$210,494,738	$205,352,771	$340,193,778	$5,141,967

DAKOTA ELECTRIC ASSOCIATION