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Nonprofiteer
← TRI-COUNTY RURAL ELECTRIC COOPERATIVE INC

Form 990 for tax year 2023

Filed by TRI-COUNTY RURAL ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$45,897,232
Total expenses
$44,807,335
Contributions and grants received
$1,183,410
Grants paid
$0
Program service revenue
$42,960,669
Investment income
$1,364,518
Other revenue
$388,635
Total assets, end of year
$197,183,997
Total liabilities, end of year
$143,105,245
Net assets or fund balances, end of year
$54,078,752
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
$0

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.

  • 1e · Government grants (contributions)

    $1,183,410

  • 2a · Program service revenue: SALES OF ELECTRIC ENERGY

    total $41,517,642 · related or exempt $41,517,642

  • 2b · Program service revenue: G&T CAPITAL CREDITS

    total $1,443,027 · related or exempt $1,443,027

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $160,380 · excluded $160,380

  • 6a · Gross rents

    personal property $304,649

  • 6c · Rental income or loss

    real property $0 · personal property $304,649

  • 6d · Net rental income or loss

    total $304,649 · excluded $304,649

  • 7a · Gross sales of assets other than inventory

    other assets $4,203,217

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

    other assets $2,999,079

  • 7c · Gain or loss

    securities $0 · other assets $1,204,138

  • 7d · Net gain or loss

    total $1,204,138 · excluded $1,204,138

  • 10a · Gross sales of inventory

    $29,665

  • 10b · Cost of goods sold

    $9,133

  • 10c · Net income from sales of inventory

    total $20,532 · excluded $20,532

  • 11a · Other revenue: PA GROSS RECEIPTS RECOVERY SURCHARGE

    total $50,917 · excluded $50,917

  • 11b · Other revenue: PREA LEEP PROGRAM

    total $10,388 · excluded $10,388

  • 11c · Other revenue: MISCELLANEOUS INCOME

    total $2,149 · excluded $2,149

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $63,454

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $1,103,506

  • 5 · Compensation of officers, directors and key employees

    total $1,183,150

  • 11g · Fees: other

    total $25,210

  • 12 · Advertising and promotion

    total $308,952

  • 20 · Interest

    total $5,394,535

  • 22 · Depreciation, depletion and amortization

    total $5,343,810

  • 24a · Other expenses: COST OF ELECTRIC POWER

    total $16,066,631

  • 24b · Other expenses: DISTRIBUTION EXPENSE

    total $9,960,499

  • 24c · Other expenses: ADMINISTRATIVE & GENERAL

    total $3,633,936

  • 24d · Other expenses: OTHER

    total $905,981

  • 24e · All other expenses

    total $881,125

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $271,509 · end of year $570,931

  • 2 · Savings and temporary cash investments

    beginning of year $1,858,142 · end of year $907,095

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $4,699,612 · end of year $5,613,510

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $2,265,512 · end of year $2,466,278

  • 9 · Prepaid expenses and deferred charges

    beginning of year $346,294 · end of year $492,085

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

    $201,978,671

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

    $46,823,340

  • 10c · Land, buildings and equipment, net

    beginning of year $140,613,815 · end of year $155,155,331

  • 11 · Investments: publicly traded securities

    beginning of year $0 · end of year $0

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $29,590,989 · end of year $31,142,152

  • 14 · Intangible assets

    beginning of year $103,767 · end of year $87,384

  • 15 · Other assets

    beginning of year $884,030 · end of year $749,231

  • 17 · Accounts payable and accrued expenses

    beginning of year $6,755,675 · end of year $6,320,534

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $3,086,990 · end of year $6,235,027

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $118,165,510 · end of year $128,626,681

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $484,752 · end of year $1,923,003

  • 27 · Net assets without donor restrictions

    beginning of year $0 · end of year $0

  • 28 · Net assets with donor restrictions

    beginning of year $0 · end of year $0

  • 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 $52,140,743 · end of year $54,078,752

Mission and programs · 2023

Mission

PROVISION OF ELECTRICITY, ON A COOPERATIVE BASIS, TO MEMBERS IN RURAL PENNSYLVANIA.

  • PROVISION OF ELECTRICITY, ON A COOPERATIVE BASIS, TO MEMBERS IN RURAL PENNSYLVANIA.

As filed on the 2023 return.

Listed in Part VII

  • Gerald Kriner

    CHAIRMAN

    Total calculated
    $37,250
    From this org
    $37,250
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Lowell Geiser

    Secretary/Treasurer

    Total calculated
    $23,594
    From this org
    $23,594
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Valery Robbins

    Vice Chairman

    Total calculated
    $21,294
    From this org
    $21,294
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Alfred Calkins

    PREA Director

    Total calculated
    $19,515
    From this org
    $19,515
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • James Davis

    Director

    Total calculated
    $17,015
    From this org
    $17,015
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Janet Teeter

    Director

    Total calculated
    $23,531
    From this org
    $23,531
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Jerome Sasala

    Director

    Total calculated
    $32,012
    From this org
    $32,012
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Matthew Whiting

    Allegheny Director

    Total calculated
    $23,817
    From this org
    $23,817
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Michael Filer

    Director

    Total calculated
    $11,504
    From this org
    $11,504
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Nicholas REITTER

    Director

    Total calculated
    $25,028
    From this org
    $25,028
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Aaron Young

    Co-CEO, Tri-County REC

    Total calculated
    $273,124
    From this org
    $175,138
    From related orgs
    $0
    Other
    $97,986
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $175,138
    Bonus
    $0
    Other
    $0
    Deferred
    $50,603
    Nontaxable benefits
    $47,383
    Filer's total
    $273,124

  • Eric McRoberts

    Director of Operations

    Total calculated
    $211,349
    From this org
    $133,724
    From related orgs
    $0
    Other
    $77,625
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $129,724
    Bonus
    $4,000
    Other
    $0
    Deferred
    $37,244
    Nontaxable benefits
    $40,381
    Filer's total
    $211,349

  • Jennifer Pellett

    Director of Financial Services

    Total calculated
    $191,965
    From this org
    $119,109
    From related orgs
    $0
    Other
    $72,856
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $119,109
    Bonus
    $0
    Other
    $0
    Deferred
    $34,747
    Nontaxable benefits
    $38,109
    Filer's total
    $191,965

  • Rachel Hauser

    Co-CEO, Tri-County REC

    Total calculated
    $272,152
    From this org
    $179,601
    From related orgs
    $0
    Other
    $92,551
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $179,601
    Bonus
    $0
    Other
    $0
    Deferred
    $50,603
    Nontaxable benefits
    $41,948
    Filer's total
    $272,152

  • James Succowich

    Chief Lineman

    Total calculated
    $194,972
    From this org
    $129,327
    From related orgs
    $0
    Other
    $65,645
    Hours/week
    46.6

    Schedule J breakdown matched by us

    Base
    $100,003
    Bonus
    $0
    Other
    $29,324
    Deferred
    $26,239
    Nontaxable benefits
    $39,406
    Filer's total
    $194,972

  • Jason Perkins

    JOURNEYMAN LINEMAN

    Total calculated
    $166,904
    From this org
    $121,876
    From related orgs
    $0
    Other
    $45,028
    Hours/week
    47

    Schedule J breakdown matched by us

    Base
    $121,876
    Bonus
    $0
    Other
    $0
    Deferred
    $24,862
    Nontaxable benefits
    $20,166
    Filer's total
    $166,904

  • Jeremiah Trump

    Journeyman Lineman

    Total calculated
    $193,043
    From this org
    $124,056
    From related orgs
    $0
    Other
    $68,987
    Hours/week
    47.4

    Schedule J breakdown matched by us

    Base
    $93,669
    Bonus
    $0
    Other
    $30,387
    Deferred
    $24,862
    Nontaxable benefits
    $44,125
    Filer's total
    $193,043

  • Joseph Mickey

    Chief Lineman

    Total calculated
    $204,769
    From this org
    $134,238
    From related orgs
    $0
    Other
    $70,531
    Hours/week
    47.9

    Schedule J breakdown matched by us

    Base
    $99,952
    Bonus
    $0
    Other
    $34,286
    Deferred
    $26,239
    Nontaxable benefits
    $44,292
    Filer's total
    $204,769

  • Justin Earle

    Chief Lineman

    Total calculated
    $209,334
    From this org
    $141,871
    From related orgs
    $0
    Other
    $67,463
    Hours/week
    49.7

    Schedule J breakdown matched by us

    Base
    $99,045
    Bonus
    $0
    Other
    $42,826
    Deferred
    $26,239
    Nontaxable benefits
    $41,224
    Filer's total
    $209,334

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 · Written employment contract
  • 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.

  • TRI-CO CONNECTIONS

    BROADBAND · PA · income $6,262,723 · assets $6,460,274

    Directly controlled by TRI-CO COOP

Provenance

Return type
form_990
Tax year
2023
Filed
1 October 2024
IRS schema version
2023v5.1
Source object
202442759349300034

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