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Nonprofiteer
← TRI-COUNTY ELECTRIC MEMBERSHIP CORP

Form 990 for tax year 2023

Filed by TRI-COUNTY ELECTRIC MEMBERSHIP CORP.

Totals

Total revenue
$53,549,073
Total expenses
$54,716,698
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$54,405,246
Investment income
$311,452
Other revenue
-$1,167,625
Total assets, end of year
$180,121,890
Total liabilities, end of year
$131,886,998
Net assets or fund balances, end of year
$48,234,892
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 REVENUE

    total $52,518,062 · related or exempt $52,518,062

  • 2b · Program service revenue: POLE RENTAL

    total $1,370,460 · excluded $1,370,460

  • 2c · Program service revenue: OTHER CAPITAL CREDITS

    total $516,724 · related or exempt $516,724

  • 3 · Investment income

    total $311,452 · excluded $311,452

  • 11a · Other revenue: NON-OPERATING INC - TCSCI

    total -$1,167,625 · related or exempt -$1,167,625

  • 11e · Other revenue, total

    -$1,167,625

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $3,591,088

  • 5 · Compensation of officers, directors and key employees

    total $423,797

  • 20 · Interest

    total $4,774,127

  • 22 · Depreciation, depletion and amortization

    total $5,346,532

  • 24a · Other expenses: PURCHASED POWER

    total $29,996,620

  • 24b · Other expenses: DISTRIBUTION MAINTENANCE

    total $4,089,659

  • 24c · Other expenses: DISTRIBUTION OPERATIONS

    total $2,902,474

  • 24d · Other expenses: ADMIN. & GENERAL EXP.

    total $2,154,211

  • 24e · All other expenses

    total $1,438,190

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $423,926 · end of year $767,240

  • 4 · Accounts receivable

    beginning of year $9,392,501 · end of year $9,082,670

  • 7 · Other notes and loans receivable

    beginning of year $2,895,395 · end of year $5,718,765

  • 8 · Inventories for sale or use

    beginning of year $1,042,747 · end of year $837,453

  • 9 · Prepaid expenses and deferred charges

    beginning of year $195,288 · end of year $134,638

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

    $202,967,085

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

    $37,990,382

  • 10c · Land, buildings and equipment, net

    beginning of year $149,529,548 · end of year $164,976,703

  • 13 · Investments: program-related

    beginning of year -$624,928 · end of year -$1,448,590

  • 15 · Other assets

    beginning of year $23,843 · end of year $53,011

  • 17 · Accounts payable and accrued expenses

    beginning of year $10,641,749 · end of year $6,963,137

  • 23 · Secured mortgages and notes payable

    beginning of year $104,870,773 · end of year $123,853,781

  • 25 · Other liabilities

    beginning of year $1,026,540 · end of year $1,070,080

  • 29 · Capital stock, trust principal or current funds

    beginning of year $92,705 · end of year $93,475

  • 31 · Retained earnings, endowment or other funds

    beginning of year $46,246,553 · end of year $48,141,417

Mission and programs · 2023

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.

  • N/A

As filed on the 2023 return.

Listed in Part VII

  • Brenda P Green

    CHAIRMAN

    Total calculated
    $14,463
    From this org
    $14,463
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Sammy O Hall

    VICE-CHAIRMA

    Total calculated
    $10,463
    From this org
    $10,463
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.2

  • Thomas Noles-Thru 1123

    SECRETARY/TR

    Total calculated
    $9,808
    From this org
    $9,808
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Dan Z Greene-For 1223

    SECRETARY/TR

    Total calculated
    $11,963
    From this org
    $11,963
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.99

  • Marion Nelson

    DIRECTOR

    Total calculated
    $11,363
    From this org
    $11,363
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.58

  • Mike S Rainey III

    DIRECTOR

    Total calculated
    $12,563
    From this org
    $12,563
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.29

  • George Comer

    DIRECTOR

    Total calculated
    $12,663
    From this org
    $12,663
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.06

  • Cecil B Patterson

    DIRECTOR

    Total calculated
    $10,463
    From this org
    $10,463
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.9

  • Chap Nelson

    DIRECTOR

    Total calculated
    $10,663
    From this org
    $10,663
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Raphael M Grinberg

    CEO

    Total calculated
    $319,385
    From this org
    $266,564
    From related orgs
    $0
    Other
    $52,821
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $255,058
    Bonus
    not reported
    Other
    $11,506
    Deferred
    $49,747
    Nontaxable benefits
    $3,074
    Filer's total
    $319,385

  • Dawn Haskins

    SENIOR EVP A

    Total calculated
    $255,193
    From this org
    $204,773
    From related orgs
    $0
    Other
    $50,420
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $185,915
    Bonus
    not reported
    Other
    $18,858
    Deferred
    $28,253
    Nontaxable benefits
    $22,167
    Filer's total
    $255,193

  • William Marsh

    VP OF DIST.

    Total calculated
    $236,175
    From this org
    $177,641
    From related orgs
    $0
    Other
    $58,534
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $175,894
    Bonus
    not reported
    Other
    $1,747
    Deferred
    $42,895
    Nontaxable benefits
    $15,639
    Filer's total
    $236,175

  • Gregory Mullis

    VP OF CORP.

    Total calculated
    $213,875
    From this org
    $170,216
    From related orgs
    $0
    Other
    $43,659
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $168,824
    Bonus
    not reported
    Other
    $1,392
    Deferred
    $30,887
    Nontaxable benefits
    $12,772
    Filer's total
    $213,875

  • Deryl Crosby

    ACCOUNTING C

    Total calculated
    $188,405
    From this org
    $161,976
    From related orgs
    $0
    Other
    $26,429
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $153,746
    Bonus
    not reported
    Other
    $8,230
    Deferred
    $14,879
    Nontaxable benefits
    $11,550
    Filer's total
    $188,405

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 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 3 · Written employment contract
  • 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.

Related corporations and trusts

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

  • TRI-COUNTY SERVICE CENTER INC

    C CORP · BROADBAND · GA · 100% owned · share of income -$1,167,625 · share of assets $5,021,362 · controlled entity

    Directly controlled by TC EMC

Provenance

Return type
form_990
Tax year
2023
Filed
24 July 2024
IRS schema version
2023v5.0
Source object
202402089349300030

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