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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
$104,946,835
Total expenses
$104,946,835
Contributions and grants received
$0
Grants paid
$136,373
Program service revenue
$104,163,544
Investment income
$623,106
Other revenue
$160,185
Total assets, end of year
$341,363,159
Total liabilities, end of year
$213,851,353
Net assets or fund balances, end of year
$127,511,806
Program services expenses (Part IX)
$104,946,835
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$104,946,835

Program services were 100.0% 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: SALES OF ELECTRICITY

    total $99,988,115 · related or exempt $99,988,115

  • 2b · Program service revenue: CAPITAL CREDITS

    total $4,175,429 · related or exempt $4,175,429

  • 3 · Investment income

    total $557,298 · excluded $557,298

  • 5 · Royalties

    total $28 · unrelated business $28

  • 6a · Gross rents

    real property $100,726

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $100,726

  • 6d · Net rental income or loss

    total $100,726 · related or exempt $100,726

  • 7a · Gross sales of assets other than inventory

    other assets $244,751

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

    other assets $178,943

  • 7c · Gain or loss

    other assets $65,808

  • 7d · Net gain or loss

    total $65,808 · excluded $65,808

  • 11a · Other revenue: GRIDLIANCE

    total $59,431 · unrelated business $59,431

  • 11e · Other revenue, total

    $59,431

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $136,373 · program services $136,373

  • 4 · Benefits paid to or for members

    total $9,050,374 · program services $9,050,374

  • 5 · Compensation of officers, directors and key employees

    total $1,003,753 · program services $1,003,753

  • 7 · Other salaries and wages

    total $6,427,030 · program services $6,427,030

  • 12 · Advertising and promotion

    total $75,721 · program services $75,721

  • 13 · Office expenses

    total $1,520,498 · program services $1,520,498

  • 20 · Interest

    total $9,735,217 · program services $9,735,217

  • 22 · Depreciation, depletion and amortization

    total $10,787,236 · program services $10,787,236

  • 24a · Other expenses: PURCHASED POWER

    total $55,772,547 · program services $55,772,547

  • 24b · Other expenses: OPERATION EXPENSE

    total $6,618,030 · program services $6,618,030

  • 24c · Other expenses: MAINTENANCE EXPENSE

    total $2,821,844 · program services $2,821,844

  • 24d · Other expenses: CONSUMER SERVICE & INFO

    total $934,904 · program services $934,904

  • 24e · All other expenses

    total $63,308 · program services $63,308

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,442,895 · end of year $4,558,914

  • 4 · Accounts receivable

    beginning of year $6,313,119 · end of year $4,194,824

  • 8 · Inventories for sale or use

    beginning of year $854,787 · end of year $988,305

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,711,851 · end of year $1,051,736

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

    $332,813,646

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

    $74,389,401

  • 10c · Land, buildings and equipment, net

    beginning of year $259,797,803 · end of year $258,424,245

  • 13 · Investments: program-related

    beginning of year $80,839,877 · end of year $66,447,858

  • 15 · Other assets

    beginning of year $6,219,559 · end of year $5,697,277

  • 17 · Accounts payable and accrued expenses

    beginning of year $8,145,242 · end of year $5,583,510

  • 23 · Secured mortgages and notes payable

    beginning of year $221,261,925 · end of year $196,743,169

  • 25 · Other liabilities

    beginning of year $10,059,784 · end of year $11,524,674

  • 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 $119,712,940 · end of year $127,511,806

Mission and programs · 2025

Mission

THE COOPERATIVE IS DEDICATED TO PROVIDING MEMBERS WITH SAFE AND RELIABLE ELECTRICAL SERVICE AT THE LOWEST PRACTICAL PRICE. WE ARE PROUD TO BE OWNED AND CONTROLLED BY THOSE WE SERVE AND ARE COMMITTED TO ENHANCING THE QUALITY OF LIFE FOR ALL OF OUR MEMBER-OWNERS.

Activities or mission (Part I)

TO PROVIDE QUALITY AND RELIABLE ELECTRIC SERVICE TO MEMBERS OF THE COOPERATIVE.

  • PROVIDING ELECTRIC ENERGY TO OUR MEMBERS - 22,800 ACTIVE SERVICES AT YEAR END WERE PROVIDED ELECTRICITY ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL.

    Expenses $104,946,835 · Grants $136,373 · Revenue $104,264,270

As filed on the 2025 return.

Listed in Part VII

  • Larry Dunn

    TRUSTEE

    Total calculated
    $30,832
    From this org
    $30,832
    From related orgs
    $0
    Other
    $0
    Hours/week
    9.27

  • Shawn Martinez

    PRESIDENT

    Total calculated
    $33,782
    From this org
    $33,782
    From related orgs
    $0
    Other
    $0
    Hours/week
    21.15

  • Ronny White

    TRUSTEE

    Total calculated
    $31,571
    From this org
    $31,571
    From related orgs
    $0
    Other
    $0
    Hours/week
    7.53

  • Randy Schreiner

    TRUSTEE

    Total calculated
    $27,682
    From this org
    $27,682
    From related orgs
    $0
    Other
    $0
    Hours/week
    8.55

  • Gayla James

    SECRETARY/TREAS

    Total calculated
    $29,082
    From this org
    $29,082
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.7

  • Richard Radcliff

    VICE PRESIDENT

    Total calculated
    $30,332
    From this org
    $30,332
    From related orgs
    $0
    Other
    $0
    Hours/week
    8.55

  • Kyle Hawkins

    TRUSTEE

    Total calculated
    $30,332
    From this org
    $30,332
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.88

  • Beau Rapp

    TRUSTEE

    Total calculated
    $30,332
    From this org
    $30,332
    From related orgs
    $0
    Other
    $0
    Hours/week
    7.53

  • Marvin Headrick

    TRUSTEE

    Total calculated
    $29,082
    From this org
    $29,082
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.08

  • Zachary Perkins

    CEO

    Total calculated
    $483,406
    From this org
    $373,442
    From related orgs
    $0
    Other
    $109,964
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $330,961
    Bonus
    $400
    Other
    $42,081
    Deferred
    $63,279
    Nontaxable benefits
    $46,685
    Filer's total
    $483,406

  • Tanya Dowell

    VP OF FINANCE & CFO

    Total calculated
    $247,320
    From this org
    $189,416
    From related orgs
    $0
    Other
    $57,904
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $172,885
    Bonus
    $400
    Other
    $16,131
    Deferred
    $19,812
    Nontaxable benefits
    $38,092
    Filer's total
    $247,320

  • Micah Davis

    VP OF ADMINISTRATIVE SERVICES

    Total calculated
    $270,076
    From this org
    $203,964
    From related orgs
    $0
    Other
    $66,112
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $184,000
    Bonus
    $400
    Other
    $19,564
    Deferred
    $26,896
    Nontaxable benefits
    $39,216
    Filer's total
    $270,076

  • Matt Taylor

    SENIOR MANAGER OF OPERATIO

    Total calculated
    $226,565
    From this org
    $174,853
    From related orgs
    $0
    Other
    $51,712
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $163,616
    Bonus
    $400
    Other
    $10,837
    Deferred
    $13,300
    Nontaxable benefits
    $38,412
    Filer's total
    $226,565

  • Mandy Breedlove

    VP INFORMATION TECHNOLOGY

    Total calculated
    $232,110
    From this org
    $169,548
    From related orgs
    $0
    Other
    $62,562
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $157,106
    Bonus
    $400
    Other
    $12,042
    Deferred
    $24,903
    Nontaxable benefits
    $37,659
    Filer's total
    $232,110

  • Dakota Lamb

    VP OF LEGAL AFFAIRS

    Total calculated
    $211,177
    From this org
    $170,025
    From related orgs
    $0
    Other
    $41,152
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $154,723
    Bonus
    $400
    Other
    $14,902
    Deferred
    $3,633
    Nontaxable benefits
    $37,519
    Filer's total
    $211,177

  • Portalles Sanchez

    SENIOR MANAGER OF ENGINEERING

    Total calculated
    $240,262
    From this org
    $175,834
    From related orgs
    $0
    Other
    $64,428
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $163,616
    Bonus
    $400
    Other
    $11,818
    Deferred
    $28,075
    Nontaxable benefits
    $36,353
    Filer's total
    $240,262

  • Ricky Wayman

    PROJECT MANAGER

    Total calculated
    $234,015
    From this org
    $162,063
    From related orgs
    $0
    Other
    $71,952
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $156,830
    Bonus
    $400
    Other
    $4,833
    Deferred
    $55,515
    Nontaxable benefits
    $16,437
    Filer's total
    $234,015

  • Brent Harold

    SERVICE TECHNICIAN

    Total calculated
    $168,838
    From this org
    $126,358
    From related orgs
    $0
    Other
    $42,480
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $118,587
    Bonus
    $400
    Other
    $7,371
    Deferred
    $6,563
    Nontaxable benefits
    $35,917
    Filer's total
    $168,838

  • W Wade Morrison

    SYSTEM OPERATIONS SUPERINTENDENT

    Total calculated
    $212,332
    From this org
    $144,548
    From related orgs
    $0
    Other
    $67,784
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $143,219
    Bonus
    $400
    Other
    $929
    Deferred
    $30,769
    Nontaxable benefits
    $37,015
    Filer's total
    $212,332

  • Kyle Osborn

    SERVICE TECHNICIAN

    Total calculated
    $191,969
    From this org
    $147,632
    From related orgs
    $0
    Other
    $44,337
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $147,969
    Bonus
    $400
    Other
    -$737
    Deferred
    $7,351
    Nontaxable benefits
    $36,986
    Filer's total
    $191,969

  • David Sheets

    SERVICE TECHNICIAN

    Total calculated
    $207,462
    From this org
    $138,618
    From related orgs
    $0
    Other
    $68,844
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $134,948
    Bonus
    $400
    Other
    $3,270
    Deferred
    $32,408
    Nontaxable benefits
    $36,436
    Filer's total
    $207,462

  • Chris Purdy

    ASSISTANT GENERAL MANAGER & CLO

    Total calculated
    $189,309
    From this org
    $175,166
    From related orgs
    $0
    Other
    $14,143
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $164,448
    Bonus
    $0
    Other
    $10,718
    Deferred
    $0
    Nontaxable benefits
    $14,143
    Filer's total
    $189,309

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

  • 1a · First-class or charter travel
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 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

Provenance

Return type
form_990
Tax year
2025
Filed
16 July 2026
IRS schema version
2025v4.1
Source object
202631979349300633

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