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Nonprofiteer
← TRI-COUNTY ELECTRIC COOPERATIVE

Form 990 for tax year 2023

Filed by TRI-COUNTY ELECTRIC COOPERATIVE.

Totals

Total revenue
$51,742,312
Total expenses
$51,742,312
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$51,497,822
Investment income
$171,339
Other revenue
$73,151
Total assets, end of year
$141,174,891
Total liabilities, end of year
$77,366,484
Net assets or fund balances, end of year
$63,808,407
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: Sale of Electricity

    total $49,516,082 · related or exempt $49,516,082

  • 2b · Program service revenue: Capital Credits

    total $1,605,773 · related or exempt $1,605,773

  • 2c · Program service revenue: Miscellaneous

    total $375,967 · related or exempt $375,967

  • 3 · Investment income

    total $169,837 · excluded $169,837

  • 6a · Gross rents

    personal property $52,569

  • 6c · Rental income or loss

    personal property $52,569

  • 6d · Net rental income or loss

    total $52,569 · excluded $52,569

  • 7a · Gross sales of assets other than inventory

    other assets $1,502

  • 7c · Gain or loss

    other assets $1,502

  • 7d · Net gain or loss

    total $1,502 · related or exempt $1,502

  • 11a · Other revenue: Non-Operating

    total $20,582 · related or exempt $20,582

  • 11e · Other revenue, total

    $20,582

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $3,643,999

  • 5 · Compensation of officers, directors and key employees

    total $523,443

  • 7 · Other salaries and wages

    total $990,440

  • 20 · Interest

    total $3,115,338

  • 22 · Depreciation, depletion and amortization

    total $4,484,836

  • 24a · Other expenses: Cost of Power

    total $31,195,101 · program services $31,195,101

  • 24b · Other expenses: Distribution Expense

    total $5,095,424 · program services $5,095,424

  • 24c · Other expenses: Admin & General

    total $1,690,884 · program services $1,690,884

  • 24d · Other expenses: Member Services

    total $851,451 · program services $851,451

  • 24e · All other expenses

    total $151,396

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $4,971,910 · end of year $4,927,391

  • 4 · Accounts receivable

    beginning of year $4,405,521 · end of year $4,261,344

  • 8 · Inventories for sale or use

    beginning of year $1,167,695 · end of year $1,100,620

  • 9 · Prepaid expenses and deferred charges

    beginning of year $491,158 · end of year $535,637

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

    $157,908,480

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

    $50,623,720

  • 10c · Land, buildings and equipment, net

    beginning of year $105,050,709 · end of year $107,284,760

  • 13 · Investments: program-related

    beginning of year $21,672,814 · end of year $23,065,139

  • 17 · Accounts payable and accrued expenses

    beginning of year $8,806,013 · end of year $7,045,039

  • 19 · Deferred revenue

    beginning of year $4,391,730 · end of year $4,406,302

  • 23 · Secured mortgages and notes payable

    beginning of year $64,717,064 · end of year $65,608,330

  • 25 · Other liabilities

    beginning of year $307,000 · end of year $306,813

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

    beginning of year $1,182,994 · end of year $3,148,901

  • 31 · Retained earnings, endowment or other funds

    beginning of year $58,355,006 · end of year $60,659,506

Mission and programs · 2023

Mission

To safely provide our member-owners with reliable electric service, superior customer service and practical energy solutions, all at reasonable prices.

  • Tri-County Electric Cooperative, Inc. is an electric distribution cooperative that provided service to approximately 16,500 members. With over 3,400 miles of electric distribution lines, Tri-County serves its members who are located primarily in the counties of Jefferson, Marion, and Washington in Illinois.

As filed on the 2023 return.

Listed in Part VII

  • Luke Johnson

    General Manager

    Total calculated
    $333,064
    From this org
    $203,807
    From related orgs
    $0
    Other
    $129,257
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $203,807
    Bonus
    not reported
    Other
    not reported
    Deferred
    $103,536
    Nontaxable benefits
    $25,721
    Filer's total
    $333,064

  • Brad Ahlers

    Foreman

    Total calculated
    $217,608
    From this org
    $143,763
    From related orgs
    $0
    Other
    $73,845
    Hours/week
    48

    Schedule J breakdown matched by us

    Base
    $143,763
    Bonus
    not reported
    Other
    not reported
    Deferred
    $55,343
    Nontaxable benefits
    $18,502
    Filer's total
    $217,608

  • Jeffrey C Hope

    Foreman

    Total calculated
    $206,618
    From this org
    $152,127
    From related orgs
    $0
    Other
    $54,491
    Hours/week
    49

    Schedule J breakdown matched by us

    Base
    $152,127
    Bonus
    not reported
    Other
    not reported
    Deferred
    $36,001
    Nontaxable benefits
    $18,490
    Filer's total
    $206,618

  • Shannon Davis

    Serviceman

    Total calculated
    $197,195
    From this org
    $149,565
    From related orgs
    $0
    Other
    $47,630
    Hours/week
    49

    Schedule J breakdown matched by us

    Base
    $149,565
    Bonus
    not reported
    Other
    not reported
    Deferred
    $29,163
    Nontaxable benefits
    $18,467
    Filer's total
    $197,195

  • Brannon Dasch

    Foreman

    Total calculated
    $186,602
    From this org
    $151,865
    From related orgs
    $0
    Other
    $34,737
    Hours/week
    49

    Schedule J breakdown matched by us

    Base
    $151,865
    Bonus
    not reported
    Other
    not reported
    Deferred
    $16,451
    Nontaxable benefits
    $18,286
    Filer's total
    $186,602

  • Christian Kinder

    Serviceman

    Total calculated
    $182,418
    From this org
    $144,048
    From related orgs
    $0
    Other
    $38,370
    Hours/week
    48

    Schedule J breakdown matched by us

    Base
    $144,048
    Bonus
    not reported
    Other
    not reported
    Deferred
    $19,909
    Nontaxable benefits
    $18,461
    Filer's total
    $182,418

  • Christine Harris

    Supervisor of Accounting

    Total calculated
    $151,378
    From this org
    $105,530
    From related orgs
    $0
    Other
    $45,848
    Hours/week
    43

    Schedule J breakdown matched by us

    Base
    $105,530
    Bonus
    not reported
    Other
    not reported
    Deferred
    $31,260
    Nontaxable benefits
    $14,588
    Filer's total
    $151,378

  • Phil Carson

    Director

    Total calculated
    $7,100
    From this org
    $7,100
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Michelle Barbee

    Director

    Total calculated
    $5,200
    From this org
    $5,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Larry Manning

    Director

    Total calculated
    $4,500
    From this org
    $4,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Sam Phillips

    Director

    Total calculated
    $4,200
    From this org
    $4,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Tom Beyers

    Director

    Total calculated
    $3,900
    From this org
    $3,900
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Kathy Withers

    Director

    Total calculated
    $3,900
    From this org
    $3,900
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Donnie Laird

    Director

    Total calculated
    $3,900
    From this org
    $3,900
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Jordan Brink

    Director

    Total calculated
    $3,300
    From this org
    $3,300
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Doug Knolhoff

    Director

    Total calculated
    $3,000
    From this org
    $3,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

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 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.

Provenance

Return type
form_990
Tax year
2023
Filed
18 September 2024
IRS schema version
2023v5.1
Source object
202442989349301704

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