Skip to content
Nonprofiteer
← TRI-COUNTY ELECTRIC COOPERATIVE INC

Form 990 for tax year 2024

Filed by TRI-COUNTY ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$103,833,770
Total expenses
$103,833,770
Contributions and grants received
$0
Grants paid
$125,469
Program service revenue
$102,164,168
Investment income
$1,529,305
Other revenue
$140,297
Total assets, end of year
$359,179,891
Total liabilities, end of year
$239,466,951
Net assets or fund balances, end of year
$119,712,940
Program services expenses (Part IX)
$103,833,770
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$103,833,770

Program services were 100.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

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: SALES OF ELECTRICITY

    total $98,634,760 · related or exempt $98,634,760

  • 2b · Program service revenue: CAPITAL CREDITS

    total $3,529,408 · related or exempt $3,529,408

  • 3 · Investment income

    total $1,364,604 · excluded $1,364,604

  • 5 · Royalties

    total $44 · unrelated business $44

  • 6a · Gross rents

    real property $92,877

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $92,877

  • 6d · Net rental income or loss

    total $92,877 · related or exempt $92,877

  • 7a · Gross sales of assets other than inventory

    other assets $173,679

  • 7b · Less cost or other basis and sales expenses

    other assets $8,978

  • 7c · Gain or loss

    other assets $164,701

  • 7d · Net gain or loss

    total $164,701 · excluded $164,701

  • 11a · Other revenue: GRIDLIANCE

    total $47,376 · unrelated business $47,376

  • 11e · Other revenue, total

    $47,376

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $125,469 · program services $125,469

  • 4 · Benefits paid to or for members

    total $6,896,698 · program services $6,896,698

  • 5 · Compensation of officers, directors and key employees

    total $583,893 · program services $583,893

  • 7 · Other salaries and wages

    total $6,785,505 · program services $6,785,505

  • 12 · Advertising and promotion

    total $84,724 · program services $84,724

  • 13 · Office expenses

    total $1,636,545 · program services $1,636,545

  • 16 · Occupancy

    total $398,934 · program services $398,934

  • 20 · Interest

    total $11,382,390 · program services $11,382,390

  • 22 · Depreciation, depletion and amortization

    total $10,451,993 · program services $10,451,993

  • 24a · Other expenses: PURCHASED POWER

    total $57,385,113 · program services $57,385,113

  • 24b · Other expenses: OPERATION EXPENSE

    total $4,271,308 · program services $4,271,308

  • 24c · Other expenses: MAINTENANCE EXPENSE

    total $2,896,110 · program services $2,896,110

  • 24d · Other expenses: CONSUMER SERVICE & INFO

    total $860,903 · program services $860,903

  • 24e · All other expenses

    total $74,185 · program services $74,185

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $4,243,948 · end of year $3,442,895

  • 4 · Accounts receivable

    beginning of year $8,042,617 · end of year $6,313,119

  • 8 · Inventories for sale or use

    beginning of year $895,508 · end of year $854,787

  • 9 · Prepaid expenses and deferred charges

    beginning of year $3,574,622 · end of year $1,711,851

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

    $334,847,567

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

    $75,049,764

  • 10c · Land, buildings and equipment, net

    beginning of year $252,481,183 · end of year $259,797,803

  • 13 · Investments: program-related

    beginning of year $86,650,373 · end of year $80,839,877

  • 15 · Other assets

    beginning of year $5,099,549 · end of year $6,219,559

  • 17 · Accounts payable and accrued expenses

    beginning of year $8,526,783 · end of year $8,145,242

  • 23 · Secured mortgages and notes payable

    beginning of year $229,577,065 · end of year $221,261,925

  • 25 · Other liabilities

    beginning of year $7,874,573 · end of year $10,059,784

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 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 $115,009,379 · end of year $119,712,940

Mission and programs · 2024

Mission

THE COOPERATIVE IS DEDICATED TO PROVIDING MEMBERS WITH SAFE AND RELIABLE ELECTRICAL SERVICE AT THE LOWEST PRACTICAL PRICE. WE ARE PROUD TO BE OWNED AND CONTROLLED BY THOSE WE SERVE AND ARE COMMITTED TO ENHANCING THE QUALITY OF LIFE FOR ALL OF OUR MEMBER-OWNERS.

Activities or mission (Part I)

TO PROVIDE QUALITY AND RELIABLE ELECTRIC SERVICE TO MEMBERS OF THE COOPERATIVE.

  • PROVIDING ELECTRIC ENERGY TO OUR MEMBERS - 22,822 ACTIVE SERVICES AT YEAR END WERE PROVIDED ELECTRICITY ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL.

    Expenses $103,833,770 · Grants $125,469 · Revenue $102,257,045

As filed on the 2024 return.

Listed in Part VII

  • Richard Radcliff

    PRESIDENT

    Total calculated
    $28,832
    From this org
    $28,832
    From related orgs
    $0
    Other
    $0
    Hours/week
    7.21

  • Shawn Martinez

    VICE PRESIDENT

    Total calculated
    $25,382
    From this org
    $25,382
    From related orgs
    $0
    Other
    $0
    Hours/week
    12.35

  • Gayla James

    SECRETARY

    Total calculated
    $26,432
    From this org
    $26,432
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.92

  • Randy Schreiner

    TRUSTEE

    Total calculated
    $27,682
    From this org
    $27,682
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.75

  • Ronny White

    TRUSTEE

    Total calculated
    $31,321
    From this org
    $31,321
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.44

  • Beau Rapp

    TRUSTEE

    Total calculated
    $28,832
    From this org
    $28,832
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.56

  • Kyle Hawkins

    TRUSTEE

    Total calculated
    $28,832
    From this org
    $28,832
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.17

  • Larry Dunn

    TRUSTEE

    Total calculated
    $23,382
    From this org
    $23,382
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.75

  • Marvin Headrick

    TRUSTEE

    Total calculated
    $28,832
    From this org
    $28,832
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.37

  • Zachary Perkins

    CHIEF EXECUTIVE OFFICER

    Total calculated
    $416,748
    From this org
    $329,780
    From related orgs
    $0
    Other
    $86,968
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $294,686
    Bonus
    $400
    Other
    $34,694
    Deferred
    $55,528
    Nontaxable benefits
    $31,440
    Filer's total
    $416,748

  • Tanya Dowell

    VICE PRESIDENT OF FINANCE & CFO

    Total calculated
    $167,126
    From this org
    $119,124
    From related orgs
    $0
    Other
    $48,002
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $118,724
    Bonus
    $400
    Other
    $0
    Deferred
    $17,879
    Nontaxable benefits
    $30,123
    Filer's total
    $167,126

  • Chris Purdy

    ASSISTANT GENERAL MANAGER & CLO

    Total calculated
    $287,735
    From this org
    $219,977
    From related orgs
    $0
    Other
    $67,758
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $194,800
    Bonus
    $7,050
    Other
    $18,127
    Deferred
    $50,370
    Nontaxable benefits
    $17,388
    Filer's total
    $287,735

  • Lyle Mathis

    CHIEF OPERATIONS OFFICER

    Total calculated
    $309,001
    From this org
    $206,168
    From related orgs
    $0
    Other
    $102,833
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $185,000
    Bonus
    $6,875
    Other
    $14,293
    Deferred
    $72,102
    Nontaxable benefits
    $30,731
    Filer's total
    $309,001

  • Micah Davis

    VICE PRESIDENT OF ADMINISTRATIVE SERVICES

    Total calculated
    $265,963
    From this org
    $206,277
    From related orgs
    $0
    Other
    $59,686
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $180,000
    Bonus
    $6,700
    Other
    $19,577
    Deferred
    $28,992
    Nontaxable benefits
    $30,694
    Filer's total
    $265,963

  • Matt Taylor

    SENIOR MANAGER OF OPERATIONS

    Total calculated
    $208,856
    From this org
    $161,998
    From related orgs
    $0
    Other
    $46,858
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $149,104
    Bonus
    $400
    Other
    $12,494
    Deferred
    $16,424
    Nontaxable benefits
    $30,434
    Filer's total
    $208,856

  • Ricky Wayman

    PROJECT MANAGER

    Total calculated
    $229,830
    From this org
    $161,151
    From related orgs
    $0
    Other
    $68,679
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $151,725
    Bonus
    $5,710
    Other
    $3,716
    Deferred
    $52,561
    Nontaxable benefits
    $16,118
    Filer's total
    $229,830

  • Mandy Breedlove

    VICE PRESIDENT OF INFORMATION TECHNOLOGY

    Total calculated
    $212,053
    From this org
    $156,690
    From related orgs
    $0
    Other
    $55,363
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $151,850
    Bonus
    $4,840
    Other
    $0
    Deferred
    $24,871
    Nontaxable benefits
    $30,492
    Filer's total
    $212,053

  • Kyle Osborn

    SERVICE TECHNICIAN

    Total calculated
    $181,106
    From this org
    $140,288
    From related orgs
    $0
    Other
    $40,818
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $139,888
    Bonus
    $400
    Other
    $0
    Deferred
    $10,674
    Nontaxable benefits
    $30,144
    Filer's total
    $181,106

  • Wade Morrison

    RELAY, SCADA & SUBSTATION MANAGER

    Total calculated
    $198,496
    From this org
    $139,619
    From related orgs
    $0
    Other
    $58,877
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $138,330
    Bonus
    $400
    Other
    $889
    Deferred
    $28,515
    Nontaxable benefits
    $30,362
    Filer's total
    $198,496

  • David Sheet

    SERVICE TECHNICIAN

    Total calculated
    $195,964
    From this org
    $136,146
    From related orgs
    $0
    Other
    $59,818
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $130,556
    Bonus
    $400
    Other
    $5,190
    Deferred
    $29,695
    Nontaxable benefits
    $30,123
    Filer's total
    $195,964

  • Portalles Sanchez

    SENIOR MANAGER OF ENGINEERING

    Total calculated
    $184,044
    From this org
    $129,885
    From related orgs
    $0
    Other
    $54,159
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $124,834
    Bonus
    $400
    Other
    $4,651
    Deferred
    $23,920
    Nontaxable benefits
    $30,239
    Filer's total
    $184,044

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

  • 1a · First-class or charter travel
  • 1a · Health or social club dues or initiation fees
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Compensation survey or study
  • 3 · Approval by the board or 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

Provenance

Return type
form_990
Tax year
2024
Filed
20 October 2025
IRS schema version
2024v5.2
Source object
202502939349300415

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.