Skip to content
Nonprofiteer
← TRI-COUNTY ELECTRIC COOPERATIVE INC

Form 990 for tax year 2022

Filed by TRI-COUNTY ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$111,738,263
Total expenses
$111,738,263
Contributions and grants received
$0
Grants paid
$149,892
Program service revenue
$111,281,597
Investment income
$354,247
Other revenue
$102,419
Total assets, end of year
$350,241,237
Total liabilities, end of year
$250,702,494
Net assets or fund balances, end of year
$99,538,743
Program services expenses (Part IX)
$111,738,263
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$111,738,263

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 $108,410,441 · related or exempt $108,410,441

  • 2b · Program service revenue: CAPITAL CREDITS

    total $2,871,156 · related or exempt $2,871,156

  • 3 · Investment income

    total $321,523 · excluded $321,523

  • 5 · Royalties

    total $55,431 · excluded $55,431

  • 6a · Gross rents

    real property $46,988

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $46,988

  • 6d · Net rental income or loss

    total $46,988 · unrelated business $46,988

  • 7a · Gross sales of assets other than inventory

    other assets $165,958

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

    other assets $133,234

  • 7c · Gain or loss

    other assets $32,724

  • 7d · Net gain or loss

    total $32,724 · excluded $32,724

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $149,892 · program services $149,892

  • 4 · Benefits paid to or for members

    total $4,160,191 · program services $4,160,191

  • 7 · Other salaries and wages

    total $6,623,544 · program services $6,623,544

  • 12 · Advertising and promotion

    total $110,069 · program services $110,069

  • 13 · Office expenses

    total $1,646,053 · program services $1,646,053

  • 20 · Interest

    total $11,352,471 · program services $11,352,471

  • 22 · Depreciation, depletion and amortization

    total $10,458,682 · program services $10,458,682

  • 24a · Other expenses: PURCHASED POWER

    total $69,092,649 · program services $69,092,649

  • 24b · Other expenses: DISTRIBUTION EXPENSE

    total $3,713,621 · program services $3,713,621

  • 24c · Other expenses: ADMIN & GENERAL EXPENSE

    total $3,174,366 · program services $3,174,366

  • 24d · Other expenses: CUSTOMER SERVICE & INFO

    total $1,055,366 · program services $1,055,366

  • 24e · All other expenses

    total $201,359 · program services $201,359

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,966,962 · end of year $4,428,766

  • 4 · Accounts receivable

    beginning of year $11,874,751 · end of year $8,790,905

  • 8 · Inventories for sale or use

    beginning of year $883,876 · end of year $910,656

  • 9 · Prepaid expenses and deferred charges

    beginning of year $7,131,210 · end of year $5,322,255

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

    $317,051,709

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

    $68,866,948

  • 10c · Land, buildings and equipment, net

    beginning of year $237,642,163 · end of year $248,184,761

  • 13 · Investments: program-related

    beginning of year $53,408,950 · end of year $75,919,510

  • 15 · Other assets

    beginning of year $6,491,033 · end of year $6,684,384

  • 17 · Accounts payable and accrued expenses

    beginning of year $7,984,427 · end of year $8,820,027

  • 23 · Secured mortgages and notes payable

    beginning of year $210,645,857 · end of year $234,982,172

  • 25 · Other liabilities

    beginning of year $6,301,848 · end of year $6,900,295

  • 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 $96,466,813 · end of year $99,538,743

Mission and programs · 2022

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 - 22,838 ACTIVE SERVICES AT YEAR END WERE PROVIDED ELECTRICITY ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL.

    Expenses $111,738,263 · Revenue $111,328,574

As filed on the 2022 return.

Listed in Part VII

  • Randy Schreiner

    TRUSTEE

    Total calculated
    $29,034
    From this org
    $29,034
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.12

  • Beau Rapp

    TRUSTEE

    Total calculated
    $29,282
    From this org
    $29,282
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.85

  • Marvin Headrick

    TRUSTEE

    Total calculated
    $29,032
    From this org
    $29,032
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.08

  • Gayla James

    TRUSTEE

    Total calculated
    $29,032
    From this org
    $29,032
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.27

  • Larry Dunn

    TRUSTEE

    Total calculated
    $31,532
    From this org
    $31,532
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.67

  • Ronny White

    VICE PRESIDENT

    Total calculated
    $34,896
    From this org
    $34,896
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.92

  • Shawn Martinez

    PRESIDENT

    Total calculated
    $29,282
    From this org
    $29,282
    From related orgs
    $0
    Other
    $0
    Hours/week
    17.04

  • Kyle Hawkins

    SECRETARY/TREASURER

    Total calculated
    $29,282
    From this org
    $29,282
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.81

  • Richard Radcliff

    TRUSTEE

    Total calculated
    $29,932
    From this org
    $29,932
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.48

  • Zachary Perkins

    CHIEF EXECUTIVE OFFICER

    Total calculated
    $387,775
    From this org
    $306,388
    From related orgs
    $0
    Other
    $81,387
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $279,299
    Bonus
    $25,670
    Other
    $1,419
    Deferred
    $77,963
    Nontaxable benefits
    $3,424
    Filer's total
    $387,775

  • John Collier

    CHIEF FINANCE OFFICER

    Total calculated
    $238,554
    From this org
    $201,128
    From related orgs
    $0
    Other
    $37,426
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $178,212
    Bonus
    $21,495
    Other
    $1,421
    Deferred
    $34,002
    Nontaxable benefits
    $3,424
    Filer's total
    $238,554

  • Michael Davis

    CHIEF ADMINISTRATIVE OFFIC

    Total calculated
    $242,480
    From this org
    $200,965
    From related orgs
    $0
    Other
    $41,515
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $178,471
    Bonus
    $21,470
    Other
    $1,024
    Deferred
    $38,486
    Nontaxable benefits
    $3,029
    Filer's total
    $242,480

  • Chris Purdy

    ASSISTANT GENERAL MANAGER

    Total calculated
    $250,213
    From this org
    $201,863
    From related orgs
    $0
    Other
    $48,350
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $184,657
    Bonus
    $14,572
    Other
    $2,634
    Deferred
    $47,726
    Nontaxable benefits
    $624
    Filer's total
    $250,213

  • Lyle Mathis

    CHIEF OPERATIONS OFFICER

    Total calculated
    $312,187
    From this org
    $208,161
    From related orgs
    $0
    Other
    $104,026
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $183,769
    Bonus
    $21,687
    Other
    $2,705
    Deferred
    $100,802
    Nontaxable benefits
    $3,224
    Filer's total
    $312,187

  • Ricky Wayman

    PROJECT MANAGER

    Total calculated
    $246,321
    From this org
    $159,936
    From related orgs
    $0
    Other
    $86,385
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $151,370
    Bonus
    $5,560
    Other
    $3,006
    Deferred
    $86,156
    Nontaxable benefits
    $229
    Filer's total
    $246,321

  • Chris Giles

    REGULATORY POLICY & COMPLI

    Total calculated
    $241,663
    From this org
    $190,578
    From related orgs
    $0
    Other
    $51,085
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $167,663
    Bonus
    $15,239
    Other
    $7,676
    Deferred
    $50,461
    Nontaxable benefits
    $624
    Filer's total
    $241,663

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
  • 1a · Health or social club dues or initiation fees
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Written employment contract
  • 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

The filer's explanations (Part III)

FORM 990, SCHEDULE J, PART I, LINE 1A
TCEC ON OCCASION HAS CHARTERED AN AIRPLANE TO FLY CEO AND OTHER EMPLOYEES WHEN IT HAS BEEN MORE EFFECTIVE THAN FLYING COMMERCIAL. TCEC WILL REIMBURSE ANY EMPLOYEE FOR THE MEMBERSHIP FEE TO HEALTH OR FITNESS CENTERS AS PART OF TCEC'S WELLNESS PROGRAM. TCEC WILL REIMBURSE THE EMPLOYEE FOR A SINGLE (EMPLOYEE) MEMBERSHIP UP TO $50 PER EMPLOYEE OR $100 FOR A FAMILY MEMBERSHIP PER EMPLOYEE PER YEAR.

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

  • OKLAHOMA PANHANDLE STATE UNIVERSITY

    $20,000

    GENERAL FUNDING TO SUPPORT SCHOOL ACTIVITIES

  • PANHANDLE STATE FOUNDATION

    $16,000

    FUNDING OF SCHOLARSHIPS

  • GUYMON PUBLIC SCHOOLS

    $15,100

    GENERAL FUNDING TO SUPPORT SCHOOL ACTIVITIES

Provenance

Return type
form_990
Tax year
2022
Filed
30 October 2023
IRS schema version
2022v5.0
Source object
202323139349303707

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.