Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1a · Federated campaigns

  $0

• 1b · Membership dues

  $0

• 1c · Fundraising events

  $0

• 1d · Related organizations

  $0

• 1e · Government grants (contributions)

  $84,779

• 1f · All other contributions, gifts and grants

  $0

• 1g · Noncash contributions included above

  $0

• 2a · Program service revenue: Utilities

  total $58,193,956 · related or exempt $58,193,956 · unrelated business $0 · excluded $0

• 2b · Program service revenue: Wired Telecommunication Carriers

  total $6,306,975 · related or exempt $6,210,280 · unrelated business $96,695 · excluded $0

• 2c · Program service revenue: Capital Credits

  total $2,691,700 · related or exempt $2,691,700 · unrelated business $0 · excluded $0

• 2d · Program service revenue

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

• 2e · Program service revenue

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

• 2f · All other program service revenue

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

• 3 · Investment income

  total $95,997 · related or exempt $0 · unrelated business $0 · excluded $95,997

• 4 · Income from investment of tax-exempt bond proceeds

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

• 5 · Royalties

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

• 6a · Gross rents

  real property $239,156 · personal property $0

• 6b · Less rental expenses

  real property $0 · personal property $0

• 6c · Rental income or loss

  real property $239,156 · personal property $0

• 6d · Net rental income or loss

  total $239,156 · related or exempt $0 · unrelated business $0 · excluded $239,156

• 7a · Gross sales of assets other than inventory

  securities $0 · other assets $62,424

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

  securities $0 · other assets $31,666

• 7c · Gain or loss

  securities $0 · other assets $30,758

• 7d · Net gain or loss

  total $30,758 · related or exempt $0 · unrelated business $0 · excluded $30,758

• 8a · Fundraising events: gross income

  $0

• 8a · Fundraising events: contributions included on line 1c

  $0

• 8b · Fundraising events: direct expenses

  $0

• 8c · Net income from fundraising events

  total $0 · unrelated business $0 · excluded $0

• 9a · Gaming: gross income

  $0

• 9b · Gaming: direct expenses

  $0

• 9c · Net income from gaming

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

• 10a · Gross sales of inventory

  $44,335

• 10b · Cost of goods sold

  $45,430

• 10c · Net income from sales of inventory

  total -$1,095 · related or exempt -$1,095 · unrelated business $0 · excluded $0

• 11a · Other revenue

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

• 11b · Other revenue

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

• 11c · Other revenue

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

• 11d · All other revenue

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

• 11e · Other revenue, total

  $0

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $0 · program services $0

• 2 · Grants to domestic individuals

  total $0 · program services $0

• 3 · Grants to foreign organizations and individuals

  total $0 · program services $0

• 4 · Benefits paid to or for members

  total $5,007,346 · program services $0

• 5 · Compensation of officers, directors and key employees

  total $870,535 · program services $0 · management and general $0 · fundraising $0

• 6 · Compensation of disqualified persons

  total $84,163 · program services $0 · management and general $0 · fundraising $0

• 7 · Other salaries and wages

  total $5,284,575 · program services $0 · management and general $0 · fundraising $0

• 8 · Pension plan contributions

  total $1,139,941 · program services $0 · management and general $0 · fundraising $0

• 9 · Other employee benefits

  total $846,876 · program services $0 · management and general $0 · fundraising $0

• 10 · Payroll taxes

  total $433,753 · program services $0 · management and general $0 · fundraising $0

• 11a · Fees: management

  total $0 · program services $0 · management and general $0 · fundraising $0

• 11b · Fees: legal

  total $0 · program services $0 · management and general $0 · fundraising $0

• 11c · Fees: accounting

  total $0 · program services $0 · management and general $0 · fundraising $0

• 11d · Fees: lobbying

  total $0 · program services $0 · management and general $0 · fundraising $0

• 11e · Fees: professional fundraising services

  total $0 · fundraising $0

• 11f · Fees: investment management

  total $0 · program services $0 · management and general $0 · fundraising $0

• 11g · Fees: other

  total $0 · program services $0 · management and general $0 · fundraising $0

• 12 · Advertising and promotion

  total $0 · program services $0 · management and general $0 · fundraising $0

• 13 · Office expenses

  total $0 · program services $0 · management and general $0 · fundraising $0

• 14 · Information technology

  total $0 · program services $0 · management and general $0 · fundraising $0

• 15 · Royalties

  total $0 · program services $0 · management and general $0 · fundraising $0

• 16 · Occupancy

  total $2,308,037 · program services $0 · management and general $0 · fundraising $0

• 17 · Travel

  total $0 · program services $0 · management and general $0 · fundraising $0

• 18 · Travel or entertainment for public officials

  total $0 · program services $0 · management and general $0 · fundraising $0

• 19 · Conferences, conventions and meetings

  total $0 · program services $0 · management and general $0 · fundraising $0

• 20 · Interest

  total $4,569,644 · program services $0 · management and general $0 · fundraising $0

• 21 · Payments to affiliates

  total $0 · program services $0 · management and general $0 · fundraising $0

• 22 · Depreciation, depletion and amortization

  total $6,105,289 · program services $0 · management and general $0 · fundraising $0

• 23 · Insurance

  total $0 · program services $0 · management and general $0 · fundraising $0

• 24a · Other expenses: Cost of Power/Internet Service

  total $34,909,403 · program services $0 · management and general $0 · fundraising $0

• 24b · Other expenses: Distribution

  total $3,809,606 · program services $0 · management and general $0 · fundraising $0

• 24c · Other expenses: Administrative

  total $1,368,685 · program services $0 · management and general $0 · fundraising $0

• 24d · Other expenses: Customer Accounts

  total $1,485,299 · program services $0 · management and general $0 · fundraising $0

• 24e · All other expenses

  total $5,546 · program services $0 · management and general $0 · fundraising $0

• 26 · Joint costs (an allocation of the lines above)

  total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $0 · end of year $0

• 2 · Savings and temporary cash investments

  beginning of year $1,755,886 · end of year $1,020,575

• 3 · Pledges and grants receivable

  beginning of year $0 · end of year $0

• 4 · Accounts receivable

  beginning of year $6,887,624 · end of year $7,635,532

• 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 $80,797 · end of year $74,925

• 8 · Inventories for sale or use

  beginning of year $3,167,305 · end of year $5,505,676

• 9 · Prepaid expenses and deferred charges

  beginning of year $2,189,282 · end of year $1,373,444

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

  $207,442,999

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

  $40,673,739

• 10c · Land, buildings and equipment, net

  beginning of year $141,419,094 · end of year $166,769,260

• 11 · Investments: publicly traded securities

  beginning of year $0 · end of year $0

• 12 · Investments: other securities

  beginning of year $0 · end of year $0

• 13 · Investments: program-related

  beginning of year $37,984,443 · end of year $39,132,986

• 14 · Intangible assets

  beginning of year $399,084 · end of year $352,869

• 15 · Other assets

  beginning of year $19,294 · end of year $1,318,900

• 17 · Accounts payable and accrued expenses

  beginning of year $11,417,487 · end of year $11,420,238

• 18 · Grants payable

  beginning of year $0 · end of year $0

• 19 · Deferred revenue

  beginning of year $3,179,786 · end of year $2,202,336

• 20 · Tax-exempt bond liabilities

  beginning of year $0 · end of year $0

• 21 · Escrow or custodial account liability

  beginning of year $5,323 · end of year $4,906

• 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 $108,295,606 · end of year $128,700,597

• 24 · Unsecured notes and loans payable

  beginning of year $250,000 · end of year $3,340,000

• 25 · Other liabilities

  beginning of year $0 · end of year $1,666,178

• 29 · Capital stock, trust principal or current funds

  beginning of year $57,242,580 · end of year $61,639,964

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

  beginning of year $13,512,027 · end of year $14,209,948

• 31 · Retained earnings, endowment or other funds

  beginning of year $0 · end of year $0

The filer's explanations (Part III)

Part II Line 1

| Name :, Title:, Item Selected:, Description:| All Employees Listed, Included in column "c" deferred comp is the estimated current year increase in the actuarial value of the defined benefit plan for all employees. These amounts do not represent any current year contribution to the plan. They are estimates of the increase in actuarial value of the plan received from the NRECA. The current year expense and increase in actuarial value for each employee are reflected in the statement on the Schedule O for Form 990 Part VII Column F.|

Related corporations and trusts

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

• Tri-Co Services Incorporated

  C-Corporation · Sales Service Internet · MI · 1% owned · share of income $2,831,518 · share of assets $8,460,030 · controlled entity

  Directly controlled by Tri-County Electric