Form 990 for tax year 2023
Filed by TRI-COUNTY ELECTRIC MEMBERSHIP CORPORATION.
Totals
- Total revenue
- $61,498,465
- Total expenses
- $62,307,096
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $61,097,415
- Investment income
- $92,373
- Other revenue
- $308,677
- Total assets, end of year
- $104,504,855
- Total liabilities, end of year
- $67,470,196
- Net assets or fund balances, end of year
- $37,034,659
- Program services expenses (Part IX)
- not reported
- Management and general expenses
- not reported
- Fundraising expenses
- not reported
- Program service expenses (Part III)
- not reported
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: Sale and Distribution of Electric
total $61,097,415
-
3 · Investment income
total $92,373
-
6a · Gross rents
real property $29,455
-
6c · Rental income or loss
real property $29,455
-
6d · Net rental income or loss
total $29,455
-
11a · Other revenue: Patronage Capital
total $279,193
-
11b · Other revenue: Miscellaneous
total $29
-
11e · Other revenue, total
$279,222
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $0
-
2 · Grants to domestic individuals
total $0
-
3 · Grants to foreign organizations and individuals
total $0
-
4 · Benefits paid to or for members
total $2,840,642
-
5 · Compensation of officers, directors and key employees
total $0
-
6 · Compensation of disqualified persons
total $0
-
7 · Other salaries and wages
total $0
-
8 · Pension plan contributions
total $0
-
9 · Other employee benefits
total $0
-
10 · Payroll taxes
total $0
-
11a · Fees: management
total $0
-
11b · Fees: legal
total $0
-
11c · Fees: accounting
total $0
-
11d · Fees: lobbying
total $0
-
11f · Fees: investment management
total $0
-
11g · Fees: other
total $0
-
12 · Advertising and promotion
total $0
-
13 · Office expenses
total $0
-
14 · Information technology
total $0
-
15 · Royalties
total $0
-
16 · Occupancy
total $0
-
17 · Travel
total $0
-
18 · Travel or entertainment for public officials
total $0
-
19 · Conferences, conventions and meetings
total $0
-
20 · Interest
total $1,666,834
-
21 · Payments to affiliates
total $0
-
22 · Depreciation, depletion and amortization
total $3,840,086
-
23 · Insurance
total $0
-
24a · Other expenses: Cost of Power
total $42,158,491
-
24b · Other expenses: Transmission Expense
total $30,703
-
24c · Other expenses: Distribution Expense
total $5,434,483
-
24d · Other expenses: Consumer Accounts Expense
total $3,505,576
-
24e · All other expenses
total $2,830,281
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $2,756,393 · end of year $2,597,799
-
2 · Savings and temporary cash investments
end of year $52,143
-
4 · Accounts receivable
beginning of year $6,627,310 · end of year $6,984,368
-
7 · Other notes and loans receivable
beginning of year $4,311,810 · end of year $3,939,955
-
8 · Inventories for sale or use
beginning of year $830,360 · end of year $1,091,989
-
9 · Prepaid expenses and deferred charges
beginning of year $204,291 · end of year $202,401
-
10a · Land, buildings and equipment: cost or other basis
$139,660,925
-
10b · Land, buildings and equipment: accumulated depreciation
$52,910,899
-
10c · Land, buildings and equipment, net
beginning of year $79,309,285 · end of year $86,750,026
-
13 · Investments: program-related
beginning of year $3,176,829 · end of year $2,579,133
-
15 · Other assets
beginning of year $365,719 · end of year $307,041
-
17 · Accounts payable and accrued expenses
beginning of year $5,677,102 · end of year $5,217,361
-
23 · Secured mortgages and notes payable
beginning of year $50,313,294 · end of year $57,816,250
-
25 · Other liabilities
beginning of year $4,253,870 · end of year $4,436,585
-
31 · Retained earnings, endowment or other funds
beginning of year $37,337,731 · end of year $37,034,659
Mission and programs · 2023
Mission
TRI-COUNTY ELECTRIC MEMBERSHIP CORPORATION IS A MEMBER-DRIVEN COOPERATIVE COMMITTED TO SAFELY PROVIDE RELIABLE ELECTRIC POWER, OFFER SUPERIOR SERVICE, TAKE AN ACTIVE ROLE IN SUPPORTING THE COMMUNITIES IT SERVES
-
Not Applicable
As filed on the 2023 return.
Listed in Part VII
-
J Michael DavisJ MICHAEL DAVIS
GENERAL MANAGER
- Total calculated
- $300,259
- From this org
- $300,259
- From related orgs
- $0
- Other
- $0
- Hours/week
- 60
Schedule J breakdown matched by us
- Base
- $250,016
- Bonus
- $10,782
- Other
- $23,711
- Deferred
- $15,750
- Nontaxable benefits
- not reported
- Filer's total
- $300,259
-
Tony GranthamTONY GRANTHAM
MANAGER OF ENGINEERING
- Total calculated
- $196,869
- From this org
- $196,869
- From related orgs
- $0
- Other
- $0
- Hours/week
- 55
Schedule J breakdown matched by us
- Base
- $170,768
- Bonus
- $10,569
- Other
- $7,132
- Deferred
- $8,400
- Nontaxable benefits
- not reported
- Filer's total
- $196,869
-
Kenneth E Davis JrKENNETH E DAVIS JR
MANAGER OF FINANCE AND ADMINISTRATION
- Total calculated
- $193,961
- From this org
- $193,961
- From related orgs
- $0
- Other
- $0
- Hours/week
- 55
Schedule J breakdown matched by us
- Base
- $173,326
- Bonus
- $10,504
- Other
- $5,331
- Deferred
- $4,800
- Nontaxable benefits
- not reported
- Filer's total
- $193,961
-
Roy A BeaversROY A BEAVERS
LINEMAN FOREMAN
- Total calculated
- $147,116
- From this org
- $147,116
- From related orgs
- $0
- Other
- $0
- Hours/week
- 55
-
Robert KornegayROBERT KORNEGAY
MANAGER OF MEMBER SERVICE
- Total calculated
- $143,831
- From this org
- $143,831
- From related orgs
- $0
- Other
- $0
- Hours/week
- 55
-
Stephanie B BrownSTEPHANIE B BROWN
STAFF ACCOUNTANT
- Total calculated
- $142,880
- From this org
- $142,880
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
-
Jeffrey W KennedyJEFFREY W KENNEDY
WORKING FOREMAN
- Total calculated
- $142,505
- From this org
- $142,505
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
-
David D ThorntonDAVID D THORNTON
SYSTEM ENGINEER
- Total calculated
- $137,356
- From this org
- $137,356
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
-
Carl W Kornegay JrCARL W KORNEGAY JR
PRESIDENT
- Total calculated
- $27,962
- From this org
- $27,962
- From related orgs
- $0
- Other
- $0
- Hours/week
- 8
-
Keith BeaversKEITH BEAVERS
DIRECTOR
- Total calculated
- $24,168
- From this org
- $24,168
- From related orgs
- $0
- Other
- $0
- Hours/week
- 5
-
Randy McCullenRANDY MCCULLEN
DIRECTOR
- Total calculated
- $24,013
- From this org
- $24,013
- From related orgs
- $0
- Other
- $0
- Hours/week
- 5
-
William Farmer JrWILLIAM FARMER JR
SECRETARY
- Total calculated
- $23,521
- From this org
- $23,521
- From related orgs
- $0
- Other
- $0
- Hours/week
- 8
-
Worth Overman JrWORTH OVERMAN JR
DIRECTOR
- Total calculated
- $23,180
- From this org
- $23,180
- From related orgs
- $0
- Other
- $0
- Hours/week
- 4
-
David Ray VinsonDAVID RAY VINSON
VICE-PRESIDENT
- Total calculated
- $17,059
- From this org
- $17,059
- From related orgs
- $0
- Other
- $0
- Hours/week
- 5
-
Brandy S RouseBRANDY S ROUSE
TREASURER
- Total calculated
- $11,999
- From this org
- $11,999
- From related orgs
- $0
- Other
- $0
- Hours/week
- 3
-
Amanda A MurphyAMANDA A MURPHY
DIRECTOR
- Total calculated
- $11,848
- From this org
- $11,848
- From related orgs
- $0
- Other
- $0
- Hours/week
- 3
-
Jeff HendersonJEFF HENDERSON
DIRECTOR
- Total calculated
- $11,714
- From this org
- $11,714
- From related orgs
- $0
- Other
- $0
- Hours/week
- 3
-
Scott G BallardSCOTT G BALLARD
DIRECTOR
- Total calculated
- $11,518
- From this org
- $11,518
- From related orgs
- $0
- Other
- $0
- Hours/week
- 3
-
Patrick LynchPATRICK LYNCH
DIRECTOR
- Total calculated
- $9,974
- From this org
- $9,974
- From related orgs
- $0
- Other
- $0
- Hours/week
- 3
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 · 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.
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 13 May 2024
- IRS schema version
- 2023v5.0
- Source object
- 202411349349303626
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