KEM ELECTRIC COOPERATIVE INC

EIN: 450218423

LINTON, ND

Total Revenue
$15,321,482
Total Expenses
$15,321,482
Total Assets
$50,491,566
Net Assets
$17,944,175
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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
1944
Legal Domicile
ND
Principal Officer
ALEX CRAIGMILE
Phone
7012544666
Tax Period
2024-01-01 to 2024-12-31

KEM ELECTRIC COOPERATIVE INC, founded in 1944, is a mid-sized nonprofit that reported $15.3M in total revenue in fiscal year 2024. Revenue grew 9% year-over-year, indicating healthy expansion.

Mission

KEM ELECTRIC COOPERATIVE, INC., IS A DISTRIBUTION COOPERATIVE THAT PROVIDES ELECTRICAL ENERGY TO CONSUMERS IN THE RURAL AREAS OF FOUR SOUTH CENTRAL COUNTIES IN NORTH DAKOTA.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $14,716,489
Investment Income $52,864
Other Revenue $552,129
TOTAL REVENUE $15,321,482

Expense Breakdown

Grants Paid $0
Salaries & Benefits $348,128
Fundraising Expenses $0
Other Expenses $13,426,215
TOTAL EXPENSES $15,321,482

Year-over-Year Comparison

2024 2023 Change
Revenue $15,321,482 $14,072,369 +0.1%
Expenses $15,321,482 $14,072,369 +0.1%
Net Income $0 $0 N/A
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

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Governance

Voting Members
6
Independent Members
6
Employees
16
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
6
$54,000
Total Directors
7
$87,034
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
DEAN DEWALD DIRECTOR 3.46
Director
$12,500 $0 $12,500
VICTOR WALD CHAIRMAN 2.38
Officer Director
$15,900 $0 $15,900
CARTER VANDERWAL SECRETARY/TREASURER 5.29
Officer Director
$15,000 $0 $15,000
CARMEN ESSIG VICE CHAIRMAN 7.33
Officer Director
$23,100 $0 $23,100
JOHN BECK DIRECTOR 5.50
Director
$9,300 $0 $9,300
NEIL MEIDINGER DIRECTOR 3.96
Director
$10,034 $0 $10,034
ESTATE OF ANTON SHAFFNER DIRECTOR 0.19
Director
$1,200 $0 $1,200
JASON BENTZ IEA CO-MANAGER 0.00
Officer
$0 $0 $0
TRAVIS KUPPER IEA CO-MANAGER 0.00
Officer
$0 $0 $0
ALEX CRAIGMILE IEA CFO 0.00
Officer
$0 $0 $0
DALE NAGEL CHIEF OF STAFF 40.00
Highest
$150,386 $62,875 $213,261
AUSTIN OHLHAUSER JOURNEYMAN LINEMAN 40.00
Highest
$119,252 $46,037 $165,289
MARTIN MESSER AREA FOREMAN 40.00
Highest
$130,195 $48,313 $178,508
KEVIN HORNER AREA FOREMAN 40.00
Highest
$135,905 $49,771 $185,676
TYLER SCHUMMER JOURNEYMAN LINEMAN 40.00
Highest
$126,040 $37,712 $163,752
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 $15,321,482 $15,321,482 $50,491,566 No data
2023 $14,072,369 $14,072,369 $46,266,521 No data
2022 $12,543,881 $12,543,881 $45,256,824 No data
2021 $11,126,809 $11,126,809 $40,655,875 No data
2020 $11,811,338 $11,811,338 $40,963,674 No data
2019 $11,113,006 $11,113,006 $40,065,865 No data
2018 $11,511,281 $11,511,281 $39,099,596 No data
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