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← TRI-COUNTY ELECTRIC COOPERATIVE ASSOCIATION INCORPORATED

Form 990 for tax year 2022

Filed by TRI-COUNTY ELECTRIC COOPERATIVE ASSOCIATION INCORPORATED.

Totals

Total revenue
$15,040,336
Total expenses
$14,083,497
Contributions and grants received
$0
Grants paid
$19,100
Program service revenue
$14,982,331
Investment income
$23,826
Other revenue
$34,179
Total assets, end of year
$44,385,430
Total liabilities, end of year
$25,119,725
Net assets or fund balances, end of year
$19,265,705
Program services expenses (Part IX)
$14,083,497
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$14,083,497

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 $14,487,513 · related or exempt $14,487,513

  • 2b · Program service revenue: Capital Credits

    total $399,399 · related or exempt $399,399

  • 2c · Program service revenue: Other electric

    total $95,419 · related or exempt $95,419

  • 3 · Investment income

    total $23,826 · related or exempt $23,826

  • 11a · Other revenue: Nonoperating Income/(Loss)

    total $34,179 · related or exempt $34,179

  • 11e · Other revenue, total

    $34,179

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $19,100 · program services $19,100

  • 4 · Benefits paid to or for members

    total $604,214 · program services $604,214

  • 5 · Compensation of officers, directors and key employees

    total $388,049 · program services $388,049

  • 20 · Interest

    total $1,033,157 · program services $1,033,157

  • 22 · Depreciation, depletion and amortization

    total $1,483,661 · program services $1,483,661

  • 24a · Other expenses: Purchased Power

    total $6,154,383 · program services $6,154,383

  • 24b · Other expenses: Maintenance

    total $1,325,379 · program services $1,325,379

  • 24c · Other expenses: Distribution

    total $1,237,886 · program services $1,237,886

  • 24d · Other expenses: Administrative & Genera

    total $1,160,413 · program services $1,160,413

  • 24e · All other expenses

    total $677,255 · program services $677,255

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $364,781 · end of year $367,024

  • 2 · Savings and temporary cash investments

    beginning of year $4,032 · end of year $5,066

  • 4 · Accounts receivable

    beginning of year $954,690 · end of year $1,371,208

  • 8 · Inventories for sale or use

    beginning of year $845,123 · end of year $1,285,415

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,560,162 · end of year $1,334,905

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

    $46,061,313

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

    $12,456,047

  • 10c · Land, buildings and equipment, net

    beginning of year $32,703,382 · end of year $33,605,266

  • 13 · Investments: program-related

    beginning of year $6,385,680 · end of year $6,416,546

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,296,275 · end of year $1,315,301

  • 19 · Deferred revenue

    beginning of year $48,217 · end of year $115,039

  • 23 · Secured mortgages and notes payable

    beginning of year $22,854,174 · end of year $23,366,157

  • 25 · Other liabilities

    beginning of year $310,353 · end of year $323,228

  • 29 · Capital stock, trust principal or current funds

    beginning of year $24,695 · end of year $24,730

  • 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 $18,284,136 · end of year $19,240,975

Mission and programs · 2022

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 $14,083,497 · Grants $19,100 · Revenue $15,040,336

As filed on the 2022 return.

Listed in Part VII

  • Michael Scheib

    General Manager

    Total calculated
    $199,607
    From this org
    $142,936
    From related orgs
    $0
    Other
    $56,671
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $142,936
    Bonus
    $0
    Other
    $0
    Deferred
    $51,536
    Nontaxable benefits
    $5,135
    Filer's total
    $199,607

  • Larry Weaver

    Line Superintendent

    Total calculated
    $149,935
    From this org
    $104,811
    From related orgs
    $0
    Other
    $45,124
    Hours/week
    47

  • Bodie Western

    Journeyman Lineman

    Total calculated
    $129,940
    From this org
    $103,321
    From related orgs
    $0
    Other
    $26,619
    Hours/week
    45

  • Vance Frederick

    Lead Lineman

    Total calculated
    $153,650
    From this org
    $103,005
    From related orgs
    $0
    Other
    $50,645
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $103,005
    Bonus
    $0
    Other
    $0
    Deferred
    $47,952
    Nontaxable benefits
    $2,693
    Filer's total
    $153,650

  • Doug Byrn

    Lead Lineman

    Total calculated
    $143,497
    From this org
    $103,000
    From related orgs
    $0
    Other
    $40,497
    Hours/week
    50

  • Richard Shaw

    Lead Lineman

    Total calculated
    $146,801
    From this org
    $100,035
    From related orgs
    $0
    Other
    $46,766
    Hours/week
    50

  • Carla Mihalovich

    Mgr of Finance & Accountin

    Total calculated
    $138,600
    From this org
    $95,035
    From related orgs
    $0
    Other
    $43,565
    Hours/week
    45

  • Mark VanDolah

    President

    Total calculated
    $9,917
    From this org
    $9,917
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Karen Farnsworth

    Director

    Total calculated
    $9,417
    From this org
    $9,417
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Joseph Sebolt

    Director

    Total calculated
    $9,167
    From this org
    $9,167
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Harley Harrelson

    Director

    Total calculated
    $8,917
    From this org
    $8,917
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Kelley Church

    Secretary

    Total calculated
    $7,667
    From this org
    $7,667
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • William Triplett

    Treasurer

    Total calculated
    $6,917
    From this org
    $6,917
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Rusty Anders

    Director

    Total calculated
    $6,417
    From this org
    $6,417
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Kenny McNamar

    Vice-President

    Total calculated
    $6,167
    From this org
    $6,167
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Doug Aylward

    Director

    Total calculated
    $5,667
    From this org
    $5,667
    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

Provenance

Return type
form_990
Tax year
2022
Filed
25 October 2023
IRS schema version
2022v5.0
Source object
202333059349301018

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