Kingsbury Electric Cooperative Inc

De Smet, SD
Tax-exempt since Oct. 1949
EIN: 46-0215043

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Type of Nonprofit

Designated as a 501(c)(12) Benevolent life insurance associations, irrigation companies, telephone companies, etc., which have a mutually beneficial nature.

Donations to this organization are not tax deductible.

Revenue

$3.75M (2023)

Expenses

$3.76M (2023)

Total Assets

$12M (2023)

Total Liabilities

$8.33M (2023)

Source: Form 990 tax filings from 2011 to 2023

Tax Filings by Year

Form 990 is an information return that most organizations claiming federal tax-exempt status must file yearly with the IRS. Nonprofit Explorer has IRS digitized Form 990 data for filings processed in 2012 and later. If this organization filed an amended return, it may not be reflected below. Duplicate download links may indicate a resubmission or amendment to this organization's original return. Form 990 data is from the IRS.

Fiscal Year Ending Dec.
2023

Revenue

$3,750,869

Expenses

$3,759,639

Net Income

-$8,770

Net Assets

$3,638,353

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$3,767,732	> 100%
Investment Income	$5,876	0.2%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	-$7,711
Net Inventory Sales	-$15,028
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$292,434	7.8%
Professional Fundraising Fees	$0
Other Salaries and Wages	$537,336	14.3%

Assets/Debt
Total Assets	$11,965,736
Total Liabilities	$8,327,383
Net Assets	$3,638,353

Club or Co-Op Income
Income From Members	$3,773,812
Income From Other Sources	$242,483

Compensation

Key Employees and Officers	Compensation	Related	Other
Evan Buckmiller (General Manager)	$137,272	$0	$33,024
Rachel Anderson (Accountant)	$62,179	$0	$19,505
Dave Heller (Director)	$4,500	$0	$0
Alan Vedvei (Vice President)	$4,250	$0	$0
Richard Abrahamson (Director)	$4,000	$0	$0
Dean Bjorklund (President)	$3,500	$0	$0
Greg Noem (Director)	$3,500	$0	$0
Verne Jensen (Secretary/Treasurer)	$2,650	$0	$0

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990

Filed on Nov. 1, 2024

Primary tax return for a nonprofit’s activities, finances, and governance

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Fiscal Year Ending Dec.
2022

Revenue

$3,667,931

Expenses

$3,667,931

Net Income

Net Assets

$3,480,722

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$3,720,844	> 100%
Investment Income	$1,754	0.0%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	-$7,449
Net Inventory Sales	-$47,218
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$288,747	7.9%
Professional Fundraising Fees	$0
Other Salaries and Wages	$462,037	12.6%

Assets/Debt
Total Assets	$10,786,257
Total Liabilities	$7,305,535
Net Assets	$3,480,722

Club or Co-Op Income
Income From Members	$3,703,647
Income From Other Sources	$154,134

Compensation

Key Employees and Officers	Compensation	Related	Other
Evan Buckmiller (General Manager)	$124,761	$0	$49,208
Rachel Anderson (Office Manager/Accountant)	$57,602	$0	$26,679
Dave Heller (Director)	$10,000	$0	$0
Dean Bjorklund (President)	$7,500	$0	$0
Richard Abrahamson (Director)	$5,500	$0	$0
Alan Vedvei (Vice President)	$4,750	$0	$0
Verne Jensen (Secretary/Treasurer)	$4,500	$0	$0
Neil Rommereim (Director (End 07/2022))	$2,750	$0	$0
Greg Noem (Director (Beg 08/2022))	$1,500	$0	$0

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990

Filed on Oct. 3, 2023

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Fiscal Year Ending Dec.
2021

Revenue

$3,297,763

Expenses

$3,297,763

Net Income

Net Assets

$3,093,087

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$3,315,943	> 100%
Investment Income	$3,946	0.1%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$2,708	0.1%
Net Inventory Sales	-$24,834
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$181,780	5.5%
Professional Fundraising Fees	$0
Other Salaries and Wages	$505,643	15.3%

Assets/Debt
Total Assets	$10,276,184
Total Liabilities	$7,183,097
Net Assets	$3,093,087

Club or Co-Op Income
Income From Members	$3,308,707
Income From Other Sources	$143,603

Compensation

Key Employees and Officers	Compensation	Related	Other
Evan Buckmiller (General Manager)	$120,823	$0	$36,635
Dave Heller (Director)	$5,000	$0	$0
Dean Bjorklund (President)	$4,250	$0	$0
Richard Abrahamson (Director)	$4,000	$0	$0
Verne Jensen (Secretary/Treasurer)	$3,250	$0	$0
Alan Vedvei (Vice President)	$3,000	$0	$0
Neil Rommereim (Director)	$3,000	$0	$0

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990

Filed on Nov. 10, 2022

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Fiscal Year Ending Dec.
2020

Revenue

$3,515,013

Expenses

$3,515,711

Net Income

-$698

Net Assets

$3,050,197

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$185,125	5.3%
Program Services	$3,321,928	94.5%
Investment Income	$4,318	0.1%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$5,714	0.2%
Net Inventory Sales	-$2,072
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$178,318	5.1%
Professional Fundraising Fees	$0
Other Salaries and Wages	$514,347	14.6%

Assets/Debt
Total Assets	$10,147,926
Total Liabilities	$7,097,729
Net Assets	$3,050,197

Club or Co-Op Income
Income From Members	$3,360,024
Income From Other Sources	$176,571

Compensation

Key Employees and Officers	Compensation	Related	Other
Evan Buckmiller (General Manager)	$115,322	$0	$37,440
Neil Rommereim (Director)	$5,250	$0	$0
Dave Heller (Director)	$5,250	$0	$0
Dean Bjorklund (President)	$4,000	$0	$0
Richard Abrahamson (Director)	$3,500	$0	$0
Alan Vedvei (Vice President)	$2,900	$0	$0
Verne Jensen (Secretary/Treasurer)	$2,750	$0	$0

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990

Filed on Nov. 15, 2021

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Fiscal Year Ending Dec.
2019

Revenue

$3,714,666

Expenses

$3,870,063

Net Income

-$155,397

Net Assets

$3,075,787

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$3,696,195	99.5%
Investment Income	$9,615	0.3%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$6,460	0.2%
Other Revenue	$2,396	0.1%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$188,123	4.9%
Professional Fundraising Fees	$0
Other Salaries and Wages	$502,256	13.0%

Assets/Debt
Total Assets	$9,485,382
Total Liabilities	$6,409,595
Net Assets	$3,075,787

Club or Co-Op Income
Income From Members	$3,849,781
Income From Other Sources	$147,130

Compensation

Key Employees and Officers	Compensation	Related	Other
Evan Buckmiller (General Manager)	$119,790	$0	$37,739
Dean Bjorklund (Vice President)	$6,050	$0	$0
Dave Heller (Director)	$4,750	$0	$0
Neil Rommereim (President)	$4,750	$0	$0
Richard Abrahamson (Director)	$4,650	$0	$0
Alan Vedvei (Director)	$4,300	$0	$0
Verne Jensen (Secretary/Treasurer)	$4,050	$0	$0

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990

Filed on Nov. 5, 2020

Primary tax return for a nonprofit’s activities, finances, and governance

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Fiscal Year Ending Dec.
2018

Revenue

$3,253,715

Expenses

$3,446,770

Net Income

-$193,055

Net Assets

$3,151,421

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$3,290,158	> 100%
Investment Income	$14,017	0.4%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	-$52,056
Other Revenue	$1,596	0.0%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$163,368	4.7%
Professional Fundraising Fees	$0
Other Salaries and Wages	$510,002	14.8%

Assets/Debt
Total Assets	$9,497,431
Total Liabilities	$6,346,010
Net Assets	$3,151,421

Club or Co-Op Income
Income From Members	$3,442,960
Income From Other Sources	$248,571

Compensation

Key Employees and Officers	Compensation	Related	Other
Evan Buckmiller (General Manager)	$113,393	$0	$32,052
Verne Jensen (Secretary/Treasurer)	$3,300	$0	$0
Richard Abrahamson (Director)	$3,000	$0	$0
Dean Bjorklund (Director)	$3,000	$0	$0
Neil Rommereim (President)	$2,850	$0	$0
Alan Vedvei (Vice President)	$2,700	$0	$0
Dave Heller (Director)	$2,250	$0	$0

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990

Filed on Nov. 12, 2019

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Fiscal Year Ending Dec.
2017

Revenue

$3,505,499

Expenses

$3,505,498

Net Income

Net Assets

$3,294,056

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$3,476,921	99.2%
Investment Income	$10,767	0.3%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$12,321	0.4%
Other Revenue	$5,490	0.2%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$135,239	3.9%
Professional Fundraising Fees	$0
Other Salaries and Wages	$575,717	16.4%

Assets/Debt
Total Assets	$8,808,563
Total Liabilities	$5,514,507
Net Assets	$3,294,056

Club or Co-Op Income
Income From Members	$3,587,059
Income From Other Sources	$227,527

Compensation

Key Employees and Officers	Compensation	Related	Other
Evan Buckmiller (Gen. Mgr)	$97,695	$0	$38,577
Verne Jensen (Secretary/Treasurer)	$3,300	$0	$0
Richard Abrahamson (Director)	$3,000	$0	$0
Dean Bjorklund (Director)	$3,000	$0	$0
Neil Rommereim (President)	$2,850	$0	$0
Alan Vedvei (Vice President)	$2,700	$0	$0
Dave Heller (Director)	$2,250	$0	$0

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990

Filed on Nov. 13, 2018

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Fiscal Year Ending Dec.
2016

Revenue

$3,272,233

Expenses

$3,272,233

Net Income

Net Assets

$3,046,919

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$3,329,474	> 100%
Investment Income	$17,670	0.5%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	-$34,934
Net Inventory Sales	-$40,452
Other Revenue	$475	0.0%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$120,821	3.7%
Professional Fundraising Fees	$0
Other Salaries and Wages	$547,441	16.7%

Assets/Debt
Total Assets	$8,712,753
Total Liabilities	$5,665,834
Net Assets	$3,046,919

Club or Co-Op Income
Income From Members	$3,323,219
Income From Other Sources	$230,536

Compensation

Key Employees and Officers	Compensation	Related	Other
Evan Buckmiller (Gen. Mgr)	$88,864	$0	$14,857
Verne Jensen (Secretary/Treasurer)	$3,300	$0	$0
Richard Abrahamson (Director)	$3,000	$0	$0
Dean Bjorklund (Director)	$3,000	$0	$0
Neil Rommereim (President)	$2,850	$0	$0
Alan Vedvei (Vice President)	$2,700	$0	$0
Dave Heller (Director)	$2,250	$0	$0

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990

Filed on Nov. 6, 2017

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Fiscal Year Ending Dec.
2015

Revenue

$3,077,161

Expenses

$3,077,161

Net Income

Net Assets

$2,845,305

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$3,083,004	> 100%
Investment Income	$10,804	0.4%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$7,000	0.2%
Net Inventory Sales	-$15,683
Other Revenue	-$7,964

Notable Expenses		Percent of Total Expenses
Executive Compensation	$165,117	5.4%
Professional Fundraising Fees	$0
Other Salaries and Wages	$489,939	15.9%

Assets/Debt
Total Assets	$8,708,403
Total Liabilities	$5,863,098
Net Assets	$2,845,305

Club or Co-Op Income
Income From Members	$3,302,229
Income From Other Sources	$231,670

Compensation

Key Employees and Officers	Compensation	Related	Other
Evan Buckmiller Started 9 1 15 (Gen. Mgr)	$76,565	$0	$2,274
Dennis Kruse Until 9 30 15 (Gen. Mgr)	$73,002	$0	$0
Verne Jensen (Secretary/Treasurer)	$3,550	$0	$0
Richard Abrahamson (Director)	$3,300	$0	$0
Neil Rommereim (President)	$2,850	$0	$0
Alan Vedvei (Vice President)	$2,250	$0	$0
Dean Bjorklund (Director)	$2,100	$0	$0
Dave Heller (Director)	$900	$0	$0
Clair Leonhardt (Director)	$600	$0	$0

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990

Filed on July 27, 2016

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Fiscal Year Ending Dec.
2014

Revenue

$3,238,465

Expenses

$3,238,463

Net Income

Net Assets

$2,641,436

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$3,214,067	99.2%
Investment Income	$9,066	0.3%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$15,332	0.5%
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$107,215	3.3%
Professional Fundraising Fees	$0
Other Salaries and Wages	$541,082	16.7%

Assets/Debt
Total Assets	$8,139,741
Total Liabilities	$5,498,305
Net Assets	$2,641,436

Club or Co-Op Income
Income From Members	$3,524,444
Income From Other Sources	$358,431

Reported conflict of interest transactions

Compensation

Key Employees and Officers	Compensation	Related	Other
Dennis Kruse (Gen. Mgr)	$94,915	$0	$0
Neil Rommereim (President)	$2,250	$0	$0
Verne Jensen (Director)	$2,250	$0	$0
Richard Abrahamson (Director)	$2,250	$0	$0
Alan Vedvei (Vice President)	$2,100	$0	$0
James Baszler (Director)	$1,800	$0	$0
Clair Leonhardt (Secretary/Treasurer)	$1,650	$0	$0

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990

Filed on Oct. 2, 2015

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Fiscal Year Ending Dec.
2013

Revenue

$3,018,145

Expenses

$3,018,145

Net Income

Net Assets

$2,472,860

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$2,958,212	98.0%
Investment Income	$9,352	0.3%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$400	0.0%
Net Inventory Sales	$50,181	1.7%
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$148,489	4.9%
Professional Fundraising Fees	$0
Other Salaries and Wages	$584,067	19.4%

Assets/Debt
Total Assets	$7,992,510
Total Liabilities	$5,519,650
Net Assets	$2,472,860

Club or Co-Op Income
Income From Members	$3,095,613
Income From Other Sources	$323,135

Reported conflict of interest transactions

Compensation

Key Employees and Officers	Compensation	Related	Other
Garry Hintz (Gen. Mgr.(Until Oct. 30, 2013))	$82,895	$0	$14,951
Dennis Kruse (Gen. Mgr. (Beg. Nov. 1, 2013))	$11,761	$0	$659
James Baszler (Director)	$4,350	$0	$0
Richard Abrahamson (Director)	$3,600	$0	$0
Neil Rommereim (President)	$3,000	$0	$0
Verne Jensen (Director)	$2,850	$0	$0
Alan Vedvei (Vice President)	$2,700	$0	$0
Clair Leonhardt (Secretary/Treasurer)	$2,550	$0	$0

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990

Filed on Oct. 23, 2014

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Fiscal Year Ending Dec.
2012

Revenue

$2,518,939

Expenses

$2,518,938

Net Income

Net Assets

$2,450,424

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$2,459,053	97.6%
Investment Income	$8,460	0.3%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$51,426	2.0%
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$122,548	4.9%
Professional Fundraising Fees	$0
Other Salaries and Wages	$503,856	20.0%

Assets/Debt
Total Assets	$6,648,056
Total Liabilities	$4,197,632
Net Assets	$2,450,424

Club or Co-Op Income
Income From Members	$0
Income From Other Sources	$0

990

Primary tax return for a nonprofit’s activities, finances, and governance

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Fiscal Year Ending Dec.
2011

Revenue

$2,384,896

Expenses

$2,384,896

Net Income

Net Assets

$2,382,530

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$2,302,640	96.6%
Investment Income	$8,766	0.4%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$73,490	3.1%
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$143,334	6.0%
Professional Fundraising Fees	$0
Other Salaries and Wages	$455,006	19.1%

Assets/Debt
Total Assets	$6,215,025
Total Liabilities	$3,832,495
Net Assets	$2,382,530

Club or Co-Op Income
Income From Members	$2,220,198
Income From Other Sources	$234,009

Nonprofit Explorer has organizations claiming tax exemption in each of the 27 subsections of the 501(c) section of the tax code, and which have filed a Form 990, Form 990EZ or Form 990PF. Taxable trusts and private foundations that are required to file a form 990PF are also included. Small organizations filing a Form 990N "e-Postcard" are not included in this data.

Types of Nonprofits

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Kingsbury Electric Cooperative Inc

Organization summary

Type of Nonprofit

Summary charts: organization finances over time

Revenue $3.75M (2023)

Expenses $3.76M (2023)

Total Assets $12M (2023)

Total Liabilities $8.33M (2023)

Tax Filings by Year

Fiscal Year Ending Dec. 2023

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending Dec. 2022

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending Dec. 2021

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending Dec. 2020

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending Dec. 2019

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending Dec. 2018

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending Dec. 2017

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending Dec. 2016

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending Dec. 2015

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending Dec. 2014

Extracted Financial Data

Extracted Financial Data from Form 990

Other

Compensation

Document Links

990

Fiscal Year Ending Dec. 2013

Extracted Financial Data

Extracted Financial Data from Form 990

Other

Compensation

Document Links

990

Fiscal Year Ending Dec. 2012

Extracted Financial Data

Extracted Financial Data from Form 990

Revenue

$3.75M (2023)

Expenses

$3.76M (2023)

Total Assets

$12M (2023)

Total Liabilities

$8.33M (2023)

Fiscal Year Ending Dec.
2023

Fiscal Year Ending Dec.
2022

Fiscal Year Ending Dec.
2021

Fiscal Year Ending Dec.
2020

Fiscal Year Ending Dec.
2019

Fiscal Year Ending Dec.
2018

Fiscal Year Ending Dec.
2017

Fiscal Year Ending Dec.
2016

Fiscal Year Ending Dec.
2015

Fiscal Year Ending Dec.
2014

Fiscal Year Ending Dec.
2013

Fiscal Year Ending Dec.
2012

Fiscal Year Ending Dec.
2011

Fiscal Year Ending Dec.
2010

Fiscal Year Ending Dec.
2009

Fiscal Year Ending Dec.
2008

Fiscal Year Ending Dec.
2007

Fiscal Year Ending Dec.
2006

Fiscal Year Ending Dec.
2005