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Nonprofiteer
← TRI-STATE ELECTRIC MEMBERSHIP CORP

Form 990 for tax year 2023

Filed by TRI-STATE ELECTRIC MEMBERSHIP CORP.

Totals

Total revenue
$44,424,480
Total expenses
$43,272,551
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$43,567,395
Investment income
$131,052
Other revenue
$726,033
Total assets, end of year
$66,860,220
Total liabilities, end of year
$31,626,873
Net assets or fund balances, end of year
$35,233,347
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
$43,272,551

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 2a · Program service revenue: ENERGY SALES

    total $43,487,935 · related or exempt $43,487,935

  • 2b · Program service revenue: SERVICE SALES

    total $79,460 · related or exempt $79,460

  • 3 · Investment income

    total $131,052 · excluded $131,052

  • 6a · Gross rents

    personal property $727,593

  • 6b · Less rental expenses

    personal property $0

  • 6c · Rental income or loss

    personal property $727,593

  • 6d · Net rental income or loss

    total $727,593 · excluded $727,593

  • 10a · Gross sales of inventory

    $10,140

  • 10b · Cost of goods sold

    $11,700

  • 10c · Net income from sales of inventory

    total -$1,560 · related or exempt -$1,560

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $814,153

  • 7 · Other salaries and wages

    total $3,850,537

  • 8 · Pension plan contributions

    total $317,401

  • 10 · Payroll taxes

    total $279,684

  • 11b · Fees: legal

    total $18,266

  • 11c · Fees: accounting

    total $46,323

  • 12 · Advertising and promotion

    total $96,126

  • 13 · Office expenses

    total $488,627

  • 19 · Conferences, conventions and meetings

    total $16,486

  • 20 · Interest

    total $955,301

  • 22 · Depreciation, depletion and amortization

    total $2,262,424

  • 23 · Insurance

    total $64,059

  • 24a · Other expenses: COST OF POWER

    total $28,063,990

  • 24b · Other expenses: DISTRIBUTION

    total $7,338,718

  • 24c · Other expenses: CUSTOMER ACCOUNTS

    total $1,231,571

  • 24d · Other expenses: TAXES

    total $286,580

  • 24e · All other expenses

    total -$2,857,695

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,722,403 · end of year $4,237,521

  • 4 · Accounts receivable

    beginning of year $1,435,999 · end of year $1,826,076

  • 7 · Other notes and loans receivable

    beginning of year $1,122,202 · end of year $1,263,889

  • 8 · Inventories for sale or use

    beginning of year $2,040,792 · end of year $1,828,399

  • 9 · Prepaid expenses and deferred charges

    beginning of year $548,282 · end of year $374,044

  • 10a · Land, buildings and equipment: cost or other basis

    $91,541,322

  • 10b · Land, buildings and equipment: accumulated depreciation

    $35,053,032

  • 10c · Land, buildings and equipment, net

    beginning of year $52,590,532 · end of year $56,488,290

  • 13 · Investments: program-related

    beginning of year $761,055 · end of year $830,937

  • 15 · Other assets

    beginning of year $24,660 · end of year $11,064

  • 17 · Accounts payable and accrued expenses

    beginning of year $4,101,843 · end of year $4,476,704

  • 23 · Secured mortgages and notes payable

    beginning of year $18,887,418 · end of year $22,794,030

  • 25 · Other liabilities

    beginning of year $4,225,047 · end of year $4,356,139

  • 29 · Capital stock, trust principal or current funds

    beginning of year $80,505 · end of year $82,045

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $33,951,112 · end of year $35,151,302

Mission and programs · 2023

Mission

TO PROVIDE ELECTRIC ENERGY TO RURAL AREAS.

  • PROVIDE ELECTRIC ENERGY AND RELATED SERVICES TO RURAL AREAS. THE COOPERATIVE SERVICES 21,380 CUSTOMERS.

    Expenses $43,272,551 · Revenue $43,565,835

As filed on the 2023 return.

Listed in Part VII

  • Jerry Pack

    PRESIDENT

    Total calculated
    $28,223
    From this org
    $2,725
    From related orgs
    $0
    Other
    $25,498
    Hours/week
    10

  • Jesse Miller

    VICE PRESIDENT

    Total calculated
    $37,441
    From this org
    $2,275
    From related orgs
    $0
    Other
    $35,166
    Hours/week
    5

  • Houston Rogers

    DIRECTOR

    Total calculated
    $12,272
    From this org
    $2,025
    From related orgs
    $0
    Other
    $10,247
    Hours/week
    4

  • Jim Quintrell

    SECRETARY/TREASURER

    Total calculated
    $15,881
    From this org
    $2,275
    From related orgs
    $0
    Other
    $13,606
    Hours/week
    3

  • Bill Joe Postell

    DIRECTOR

    Total calculated
    $15,871
    From this org
    $2,275
    From related orgs
    $0
    Other
    $13,596
    Hours/week
    6

  • William Barker

    DIRECTOR

    Total calculated
    $15,881
    From this org
    $2,275
    From related orgs
    $0
    Other
    $13,606
    Hours/week
    5

  • Tom Stiles

    DIRECTOR

    Total calculated
    $9,185
    From this org
    $1,225
    From related orgs
    $0
    Other
    $7,960
    Hours/week
    3

  • Lisa Fields

    DIRECTOR

    Total calculated
    $4,114
    From this org
    $700
    From related orgs
    $0
    Other
    $3,414
    Hours/week
    3

  • Stacy Chastain

    GENERAL MANAGER

    Total calculated
    $280,517
    From this org
    $198,316
    From related orgs
    $0
    Other
    $82,201
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $198,316
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $82,201
    Filer's total
    $280,517

  • Chris Hulsey

    HUMAN RESOURCE MANAGER

    Total calculated
    $184,277
    From this org
    $122,113
    From related orgs
    $0
    Other
    $62,164
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $122,113
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $62,164
    Filer's total
    $184,277

  • Chuck Thomas

    OPERATIONS MANAGER

    Total calculated
    $196,451
    From this org
    $142,376
    From related orgs
    $0
    Other
    $54,075
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $142,376
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $54,075
    Filer's total
    $196,451

  • David Lewis

    IT MANAGER

    Total calculated
    $178,492
    From this org
    $116,330
    From related orgs
    $0
    Other
    $62,162
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $116,330
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $62,162
    Filer's total
    $178,492

  • Lisa Hood

    HUMAN RESOURCE MANAGER

    Total calculated
    $159,320
    From this org
    $105,218
    From related orgs
    $0
    Other
    $54,102
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $105,218
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $54,102
    Filer's total
    $159,320

  • Christy Setser

    FINANCE MANAGER

    Total calculated
    $176,171
    From this org
    $114,025
    From related orgs
    $0
    Other
    $62,146
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $114,025
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $62,146
    Filer's total
    $176,171

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2023
Filed
24 September 2024
IRS schema version
2023v5.1
Source object
202412759349300546

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