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Nonprofiteer
← TRI-COUNTY ELECTRIC COOPERATIVE ASSOCIATION INCORPORATED

Form 990 for tax year 2024

Filed by TRI-COUNTY ELECTRIC COOPERATIVE ASSOCIATION INCORPORATED.

Totals

Total revenue
$16,814,383
Total expenses
$15,839,663
Contributions and grants received
$0
Grants paid
$18,000
Program service revenue
$16,770,394
Investment income
$43,989
Other revenue
$0
Total assets, end of year
$46,307,355
Total liabilities, end of year
$25,857,142
Net assets or fund balances, end of year
$20,450,213
Program services expenses (Part IX)
$15,839,663
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$15,839,663

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: Electric energy

    total $15,789,386 · related or exempt $15,789,386

  • 2b · Program service revenue: Capital Credits

    total $758,929 · related or exempt $758,929

  • 2c · Program service revenue: Other electric

    total $168,556 · related or exempt $168,556

  • 2d · Program service revenue: Other Non-Operating

    total $53,523 · related or exempt $53,523

  • 3 · Investment income

    total $43,989 · related or exempt $43,989

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $18,000 · program services $18,000

  • 4 · Benefits paid to or for members

    total $519,962 · program services $519,962

  • 5 · Compensation of officers, directors and key employees

    total $525,559 · program services $525,559

  • 20 · Interest

    total $1,136,068 · program services $1,136,068

  • 22 · Depreciation, depletion and amortization

    total $1,575,472 · program services $1,575,472

  • 24a · Other expenses: Purchased Power

    total $6,894,621 · program services $6,894,621

  • 24b · Other expenses: Distribution

    total $1,529,179 · program services $1,529,179

  • 24c · Other expenses: Maintenance

    total $1,403,342 · program services $1,403,342

  • 24d · Other expenses: Administrative & Genera

    total $1,398,355 · program services $1,398,355

  • 24e · All other expenses

    total $839,105 · program services $839,105

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $543,797 · end of year $650,536

  • 2 · Savings and temporary cash investments

    beginning of year $11,122 · end of year $19,636

  • 4 · Accounts receivable

    beginning of year $1,203,706 · end of year $1,341,412

  • 8 · Inventories for sale or use

    beginning of year $1,328,075 · end of year $1,552,806

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,235,429 · end of year $1,146,100

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

    $49,074,115

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

    $14,634,954

  • 10c · Land, buildings and equipment, net

    beginning of year $33,727,754 · end of year $34,439,161

  • 13 · Investments: program-related

    beginning of year $6,764,522 · end of year $7,157,704

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,348,948 · end of year $1,568,907

  • 19 · Deferred revenue

    beginning of year $20,084 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $23,641,527 · end of year $23,946,549

  • 25 · Other liabilities

    beginning of year $328,623 · end of year $341,686

  • 29 · Capital stock, trust principal or current funds

    beginning of year $24,950 · end of year $25,220

  • 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 $19,450,273 · end of year $20,424,993

Mission and programs · 2024

Mission

To enhance the quality of life of member-owners by promoting a positive economic, political, social and regulatory environment

  • Provide electric service to member-owners of the cooperative

    Expenses $15,839,663 · Revenue $16,814,383

As filed on the 2024 return.

Listed in Part VII

  • Michael Scheib

    General Manager

    Total calculated
    $296,185
    From this org
    $207,726
    From related orgs
    $0
    Other
    $88,459
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $207,726
    Bonus
    $0
    Other
    $0
    Deferred
    $63,309
    Nontaxable benefits
    $25,150
    Filer's total
    $296,185

  • Hunter Chase

    Journeyman Lineman

    Total calculated
    $151,301
    From this org
    $124,258
    From related orgs
    $0
    Other
    $27,043
    Hours/week
    47

    Schedule J breakdown matched by us

    Base
    $124,258
    Bonus
    $0
    Other
    $0
    Deferred
    $4,739
    Nontaxable benefits
    $22,304
    Filer's total
    $151,301

  • Denton Jones

    Journeyman Lineman

    Total calculated
    $138,776
    From this org
    $123,053
    From related orgs
    $0
    Other
    $15,723
    Hours/week
    50

  • Richard Shaw Jr

    Lead Lineman

    Total calculated
    $180,647
    From this org
    $120,947
    From related orgs
    $0
    Other
    $59,700
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $120,947
    Bonus
    $0
    Other
    $0
    Deferred
    $35,707
    Nontaxable benefits
    $23,993
    Filer's total
    $180,647

  • Cameron Kirmse

    Journeyman Lineman

    Total calculated
    $155,752
    From this org
    $118,471
    From related orgs
    $0
    Other
    $37,281
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $118,471
    Bonus
    $0
    Other
    $0
    Deferred
    $13,277
    Nontaxable benefits
    $24,004
    Filer's total
    $155,752

  • Braxton Shaw

    Journeyman Lineman

    Total calculated
    $144,630
    From this org
    $117,187
    From related orgs
    $0
    Other
    $27,443
    Hours/week
    50

  • Carla Mihalovich

    Mgr of Finance & Accountin

    Total calculated
    $165,689
    From this org
    $105,268
    From related orgs
    $0
    Other
    $60,421
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $105,268
    Bonus
    $0
    Other
    $0
    Deferred
    $36,032
    Nontaxable benefits
    $24,389
    Filer's total
    $165,689

  • David Pulliam

    Director

    Total calculated
    $8,222
    From this org
    $8,222
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • David Pilliam

    Director

    Total calculated
    $8,222
    From this org
    $8,222
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Kelley Church

    President

    Total calculated
    $7,472
    From this org
    $7,472
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Joseph Sebolt

    Director

    Total calculated
    $7,116
    From this org
    $7,116
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Rex Winn

    Director

    Total calculated
    $6,722
    From this org
    $6,722
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Mark VanDolah

    Director

    Total calculated
    $6,454
    From this org
    $6,454
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Rusty Anders

    Secretary

    Total calculated
    $6,222
    From this org
    $6,222
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Kenny McNamar

    Director

    Total calculated
    $6,222
    From this org
    $6,222
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • William Triplett

    Treasurer

    Total calculated
    $5,972
    From this org
    $5,972
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Doug Aylward

    Director

    Total calculated
    $5,722
    From this org
    $5,722
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

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

  • 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

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2024
Filed
24 April 2025
IRS schema version
2024v5.1
Source object
202511199349300426

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