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Nonprofiteer
← TRI-COUNTY ELECTRIC COOPERATIVE INC

Form 990 for tax year 2025

Filed by TRI-COUNTY ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$61,964,736
Total expenses
$63,711,582
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$61,784,022
Investment income
$180,714
Other revenue
$0
Total assets, end of year
$177,341,113
Total liabilities, end of year
$132,355,412
Net assets or fund balances, end of year
$44,985,701
Program services expenses (Part IX)
$0
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
not reported

Program services were 0.0% 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: ELECTRIC ENERGY SALES

    total $58,163,133 · related or exempt $58,163,133

  • 2b · Program service revenue: FIBER ACCESS REVENUE

    total $3,000,000 · related or exempt $3,000,000

  • 2c · Program service revenue: PATRONAGE CAPITAL - ASSOCIATE

    total $620,889 · related or exempt $620,889

  • 3 · Investment income

    total $180,714 · excluded $180,714

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $4,808,047

  • 5 · Compensation of officers, directors and key employees

    total $583,603

  • 13 · Office expenses

    total $917,395

  • 20 · Interest

    total $4,792,327

  • 22 · Depreciation, depletion and amortization

    total $5,358,716

  • 24a · Other expenses: PURCHASED POWER

    total $30,204,419

  • 24b · Other expenses: DISTRIBUTION MAINTENANCE

    total $6,648,909

  • 24c · Other expenses: PROPERTY AND OTHER TAXES

    total $4,135,990

  • 24d · Other expenses: ADMIN. & GENERAL

    total $3,703,217

  • 24e · All other expenses

    total $2,558,959

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $791,563 · end of year $1,655,112

  • 4 · Accounts receivable

    beginning of year $13,275,372 · end of year $7,097,190

  • 7 · Other notes and loans receivable

    beginning of year $3,882,438

  • 8 · Inventories for sale or use

    beginning of year $1,698,261 · end of year $1,880,262

  • 9 · Prepaid expenses and deferred charges

    beginning of year $393,096 · end of year $452,742

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

    $202,133,660

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

    $51,102,244

  • 10c · Land, buildings and equipment, net

    beginning of year $142,252,107 · end of year $151,031,416

  • 11 · Investments: publicly traded securities

    beginning of year $446,679 · end of year -$1,300,635

  • 13 · Investments: program-related

    beginning of year $15,985,664 · end of year $16,525,026

  • 17 · Accounts payable and accrued expenses

    beginning of year $15,092,127 · end of year $11,636,150

  • 23 · Secured mortgages and notes payable

    beginning of year $112,681,524 · end of year $112,208,124

  • 25 · Other liabilities

    beginning of year $7,686,833 · end of year $8,511,138

  • 29 · Capital stock, trust principal or current funds

    beginning of year $70,250 · end of year $78,790

  • 31 · Retained earnings, endowment or other funds

    beginning of year $43,194,446 · end of year $44,906,911

Mission and programs · 2025

Mission

TO PROVIDE THE BEST POSSIBLE ELECTRIC SERVICE TO ALL WHO DESIRE IT WITHIN THE SYSTEM AREA AT A REASONABLE COST CONSISTENT WITH THE HIGHEST STANDARDS OF SERVICE.

  • TO PROVIDE THE BEST POSSIBLE ELECTRIC SERVICE TO ALL WHO DESIRE IT WITHIN THE SYSTEM AREA AT A REASONABLE COST CONSISTENT WITH THE HIGHEST STANDARDS OF SERVICE.

  • TO PROVIDE THE BEST POSSIBLE ELECTRIC SERVICE TO ALL WHO DESIRE IT WITHIN THE SYSTEM AREA AT A REASONABLE COST CONSISTENT WITH THE HIGHEST STANDARDS OF SERVICE.

As filed on the 2025 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Chad Lowder

    CEO

    Total calculated
    $412,358
    From this org
    $261,946
    From related orgs
    $0
    Other
    $150,412
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $255,019
    Bonus
    $3,542
    Other
    $3,385
    Deferred
    $117,552
    Nontaxable benefits
    $32,860
    Filer's total
    $412,358

  • Jerrell Furtick

    COO

    Total calculated
    $302,321
    From this org
    $190,161
    From related orgs
    $0
    Other
    $112,160
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $182,900
    Bonus
    $866
    Other
    $6,395
    Deferred
    $79,300
    Nontaxable benefits
    $32,860
    Filer's total
    $302,321

  • Christina Turnage

    VP OF FINANC

    Total calculated
    $270,035
    From this org
    $182,302
    From related orgs
    $0
    Other
    $87,733
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $171,826
    Bonus
    $866
    Other
    $9,610
    Deferred
    $74,214
    Nontaxable benefits
    $13,519
    Filer's total
    $270,035

  • Sean Arsenault

    VP TECH/TRIC

    Total calculated
    $228,152
    From this org
    $148,092
    From related orgs
    $0
    Other
    $80,060
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $135,269
    Bonus
    $877
    Other
    $11,946
    Deferred
    $66,541
    Nontaxable benefits
    $13,519
    Filer's total
    $228,152

  • John Arant

    CONTRACT SUP

    Total calculated
    $203,801
    From this org
    $123,456
    From related orgs
    $0
    Other
    $80,345
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $120,974
    Bonus
    $1,083
    Other
    $1,399
    Deferred
    $47,485
    Nontaxable benefits
    $32,860
    Filer's total
    $203,801

  • George Stone

    SERVICEMAN

    Total calculated
    $203,733
    From this org
    $115,815
    From related orgs
    $0
    Other
    $87,918
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $114,228
    Bonus
    $1,083
    Other
    $504
    Deferred
    $55,058
    Nontaxable benefits
    $32,860
    Filer's total
    $203,733

  • James R Dantzler

    TRUSTEE

    Total calculated
    $19,205
    From this org
    $19,205
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Ida L Dixon

    TRUSTEE

    Total calculated
    $19,205
    From this org
    $19,205
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Willie E Jeffries

    TRUSTEE

    Total calculated
    $19,205
    From this org
    $19,205
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Joe Strickland Jr

    VICE PRESIDE

    Total calculated
    $19,205
    From this org
    $19,205
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • William Robinson

    TRUSTEE

    Total calculated
    $19,205
    From this org
    $19,205
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Jacqueline S Shaw

    SECRETARY

    Total calculated
    $19,205
    From this org
    $19,205
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Barbara Weston

    PRESIDENT

    Total calculated
    $19,205
    From this org
    $19,205
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • George Wilson

    TRUSTEE

    Total calculated
    $19,205
    From this org
    $19,205
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Gary F Geiger

    TREASURER

    Total calculated
    $17,605
    From this org
    $17,605
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

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
  • 3 · Form 990 of other organizations
  • 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

No itemized grants to organizations on this return.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • TRICO DEVELOPMENT LLC

    ECON. DEV. · SC · assets $9,633,842

    Directly controlled by TRI-CO ECI

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • TRICOLINK INC

    C CORP · BROADBAND · SC · 100% owned · share of income $8,036,021 · share of assets $11,623,623

    Directly controlled by TRI-CO ECI

Provenance

Return type
form_990
Tax year
2025
Filed
4 May 2026
IRS schema version
2025v4.0
Source object
202601249349302455

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