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Nonprofiteer
← TRI-COUNTY ELECTRIC MEMBERSHIP CORPORATION

Form 990 for tax year 2023

Filed by TRI-COUNTY ELECTRIC MEMBERSHIP CORPORATION.

Totals

Total revenue
$147,312,290
Total expenses
$140,117,211
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$146,725,042
Investment income
$587,248
Other revenue
$0
Total assets, end of year
$227,583,980
Total liabilities, end of year
$56,903,699
Net assets or fund balances, end of year
$170,680,281
Program services expenses (Part IX)
$0
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$139,309,826

Program services were 0.0% 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 Revenue

    total $141,316,137 · related or exempt $141,316,137 · unrelated business $0 · excluded $0

  • 2b · Program service revenue: Rent from Electric Property

    total $2,124,869 · related or exempt $0 · unrelated business $0 · excluded $2,124,869

  • 2c · Program service revenue: Forfeited Discounts

    total $353,979 · related or exempt $353,979 · unrelated business $0 · excluded $0

  • 2d · Program service revenue: Service Charges

    total $679,363 · related or exempt $679,363 · unrelated business $0 · excluded $0

  • 2e · Program service revenue: Miscellaneous

    total $60,003 · related or exempt $60,003 · unrelated business $0 · excluded $0

  • 2f · All other program service revenue

    total $2,190,691 · related or exempt $2,190,691 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $587,248 · related or exempt $0 · unrelated business $0 · excluded $587,248

  • 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

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $1,258,513

  • 7 · Other salaries and wages

    total $6,423,984

  • 8 · Pension plan contributions

    total $1,337,204

  • 9 · Other employee benefits

    total $1,366,535

  • 10 · Payroll taxes

    total $543,917

  • 11b · Fees: legal

    total $47,934

  • 11c · Fees: accounting

    total $19,308

  • 11g · Fees: other

    total $3,964,484

  • 13 · Office expenses

    total $45,875

  • 14 · Information technology

    total $766,730

  • 17 · Travel

    total $920,112

  • 20 · Interest

    total $680,253

  • 22 · Depreciation, depletion and amortization

    total $10,461,288

  • 23 · Insurance

    total $421,422

  • 24a · Other expenses: Repairs & Maintenance

    total $603,253

  • 24b · Other expenses: Electricity Purchased for Resale

    total $105,366,837

  • 24c · Other expenses: Property Taxes

    total $1,621,258

  • 24d · Other expenses: Gross Receipts Tax

    total $1,305,046

  • 24e · All other expenses

    total $2,963,258

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $4,097,446 · end of year $6,275,355

  • 2 · Savings and temporary cash investments

    beginning of year $18,467,073 · end of year $7,835,580

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $4,718,423 · end of year $6,536,216

  • 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 $1,710,712 · end of year $1,730,712

  • 8 · Inventories for sale or use

    beginning of year $6,408,027 · end of year $6,577,936

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,207,258 · end of year $1,202,442

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

    $301,920,138

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

    $116,986,927

  • 10c · Land, buildings and equipment, net

    beginning of year $172,362,786 · end of year $184,933,211

  • 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 $0 · end of year $0

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $11,311,085 · end of year $12,492,528

  • 17 · Accounts payable and accrued expenses

    beginning of year $17,339,671 · end of year $18,388,955

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $0 · end of year $0

  • 20 · Tax-exempt bond liabilities

    beginning of year $25,038,525 · end of year $23,934,934

  • 21 · Escrow or custodial account liability

    beginning of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $0

  • 24 · Unsecured notes and loans payable

    beginning of year $0

  • 25 · Other liabilities

    beginning of year $15,670,367 · end of year $14,579,810

  • 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 $214,575 · end of year $214,136

  • 31 · Retained earnings, endowment or other funds

    beginning of year $162,019,672 · end of year $170,466,145

Mission and programs · 2023

Mission

Distribution of electricity to over 56,000 metered locations in South Central Kentucky and Northern Middle Tennessee.

Activities or mission (Part I)

To be the provider of choice for energy related services by exceeding customer expectations and providing community leadership; your partner in a changing and competitive world

  • Revenue exceeded expenses by $7,823,398.

    Expenses $139,309,826

As filed on the 2023 return.

Listed in Part VII

  • Paul Thompson

    Chief Executive Officer

    Total calculated
    $373,016
    From this org
    $304,163
    From related orgs
    $0
    Other
    $68,853
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $297,279
    Bonus
    $0
    Other
    $7,664
    Deferred
    $68,853
    Nontaxable benefits
    $14,515
    Filer's total
    $388,311

  • Tammy Dixon

    Director of H.R. & External Relations

    Total calculated
    $225,903
    From this org
    $165,036
    From related orgs
    $0
    Other
    $60,867
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $163,011
    Bonus
    $0
    Other
    $2,025
    Deferred
    $60,867
    Nontaxable benefits
    $11,015
    Filer's total
    $236,918

  • Glenn Hale

    Chief Executive Officer

    Total calculated
    $208,774
    From this org
    $145,525
    From related orgs
    $0
    Other
    $63,249
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $143,335
    Bonus
    $0
    Other
    $3,190
    Deferred
    $63,249
    Nontaxable benefits
    $22,484
    Filer's total
    $232,258

  • Jimmy Beecham

    Director of Engineering and Operations

    Total calculated
    $179,952
    From this org
    $179,952
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $176,457
    Bonus
    $0
    Other
    $4,275
    Deferred
    $0
    Nontaxable benefits
    $22,943
    Filer's total
    $203,675

  • Mike Miller

    Director

    Total calculated
    $34,641
    From this org
    $12,921
    From related orgs
    $0
    Other
    $21,720
    Hours/week
    3

  • Bret Carver

    Director

    Total calculated
    $33,080
    From this org
    $11,360
    From related orgs
    $0
    Other
    $21,720
    Hours/week
    3

  • Jeffery Downing

    Director

    Total calculated
    $32,223
    From this org
    $10,503
    From related orgs
    $0
    Other
    $21,720
    Hours/week
    3

  • T P Thompson Jr

    Director

    Total calculated
    $31,973
    From this org
    $10,253
    From related orgs
    $0
    Other
    $21,720
    Hours/week
    3

  • Kelby Graves

    Director

    Total calculated
    $28,953
    From this org
    $14,921
    From related orgs
    $0
    Other
    $14,032
    Hours/week
    3

  • Mark Linkous

    Director

    Total calculated
    $27,142
    From this org
    $13,110
    From related orgs
    $0
    Other
    $14,032
    Hours/week
    3

  • Andy Goad

    Director

    Total calculated
    $26,563
    From this org
    $12,531
    From related orgs
    $0
    Other
    $14,032
    Hours/week
    3

  • Travis Carter

    Director

    Total calculated
    $25,138
    From this org
    $11,106
    From related orgs
    $0
    Other
    $14,032
    Hours/week
    3

  • Ron Alan Powell

    Director

    Total calculated
    $24,575
    From this org
    $10,895
    From related orgs
    $0
    Other
    $13,680
    Hours/week
    3

  • Ronald Bailey

    Director

    Total calculated
    $24,285
    From this org
    $10,253
    From related orgs
    $0
    Other
    $14,032
    Hours/week
    3

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

None.

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-County Fiber Communications LLC

    Retail Broadband Provider · TN · income $2,190,691 · assets $2,265,545

    Directly controlled by Tri-County Electric Membership

Provenance

Return type
form_990
Tax year
2023
Filed
14 May 2025
IRS schema version
2023v6.0
Source object
202541349349308264

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