BUTTE ELECTRIC COOPERATIVE INC

EIN: 460115942

NEWELL, SD

Total Revenue
$10,549,791
Total Expenses
$8,762,491
Total Assets
$71,776,161
Net Assets
$28,636,035
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Tuckman-Chang Vulnerability Assessment

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Financial Trends

Organization Details

Formation Year
1940
Legal Domicile
SD
Principal Officer
MATTHEW SLEEP
Phone
6054562494
Tax Period
2024-01-01 to 2024-12-31

BUTTE ELECTRIC COOPERATIVE INC, founded in 1940, is a community nonprofit that reported $9.4M in total revenue in fiscal year 2018. Revenue grew 13% year-over-year, indicating healthy expansion. The organization ran a surplus of $2.0M, a strong 21% operating margin.

Mission

THE MISSION OF BUTTE ELECTRIC COOPERATIVE IS TO CONTINUALLY IMPROVE CUSTOMER SERVICES; PROVIDE SAFE, RELIABLE, AND COMPETITIVELY PRICED ELECTRICITY; AND CONTINUE TO LEAD IN DEVELOPING OUR COMMUNITIES FOR THE BENEFIT OF OUR MEMBERS.

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Trantor Score

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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 $969,700
Investment Income $247,664
Other Revenue $9,332,427
TOTAL REVENUE $10,549,791

Expense Breakdown

Grants Paid $14,187
Salaries & Benefits $2,393,450
Fundraising Expenses $0
Other Expenses $5,832,836
TOTAL EXPENSES $8,762,491

Year-over-Year Comparison

2024 2023 Change
Revenue $10,549,791 $10,045,075 +0.1%
Expenses $8,762,491 $7,800,336 +0.1%
Net Income $1,787,300 $2,244,739 -0.2%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
9
Independent Members
9
Employees
28
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
$291,488
Total Directors
9
$97,022
Key Employees
0
$0
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MATTHEW SLEEP CEO 40.00
Officer
$195,300 $39,317 $234,617
BRETT FOSHEIM OPERATIONS M 40.00
Highest
$135,339 $52,438 $187,777
TRAVIS SCHENK TREASURER 1.00
Officer Director
$18,197 $0 $18,197
STEVE SMEENK DIRECTOR 1.00
Director
$12,895 $0 $12,895
PAUL WINKLER DIRECTOR 1.00
Director
$11,641 $0 $11,641
THOMAS BRUNNER SECRETARY 1.00
Officer Director
$11,001 $0 $11,001
CRIS MILLER PRESIDENT 1.00
Officer Director
$10,000 $0 $10,000
DAN MARRS VICE-PRESIDE 1.00
Officer Director
$9,242 $0 $9,242
JAMES MORTENSON ASST SECRETA 1.00
Officer Director
$8,431 $0 $8,431
CHANDY OLSON DIRECTOR 1.00
Director
$7,991 $0 $7,991
DAN HEFNER DIRECTOR 1.00
Director
$7,624 $0 $7,624
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 $10,549,791 $8,762,491 $71,776,161 $1,787,300
2023 $10,045,075 $7,800,336 $72,523,427 $2,244,739
2022 $8,803,300 $7,332,138 $67,085,807 $1,471,162
2021 $8,524,779 $7,282,778 $66,049,241 $1,242,001
2020 $8,815,429 $7,814,436 $63,943,714 $1,000,993
2019 $8,493,439 $7,588,502 $60,540,368 $904,937
2018 $9,402,930 $7,386,721 $60,649,159 $2,016,209
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