Tri-County Electric Cooperative
- Assets
- $133.9m
- Revenue
- $48.5m
- Investments
- $0.0
- Employees
- 50
- Location
- Mount Vernon, IL
- Founding
- 02/1943
- Data as of
- 12/2021
- EIN
- 37-0555013
Organization Overview
Tri-County Electric Cooperative is located in Mount Vernon, IL. The organization was established in 1943. According to its NTEE Classification (W80) the organization is classified as: Public Utilities, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2021, Tri-County Electric Cooperative employed 50 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Tri-County Electric Cooperative is a 501(c)(12) and as such, is described as a "Benevolent Life Insurance Association, Mutual Ditch or Irrigation Company, Mutual or Cooperative Telephone Company" by the IRS.
For the year ending 12/2021, Tri-County Electric Cooperative generated $48.5m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.1%) each year. All expenses for the organization totaled $48.5m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO SAFELY PROVIDE OUR MEMBER-OWNERS WITH RELIABLE ELECTRIC SERVICE, SUPERIOR CUSTOMER SERVICE AND PRACTICAL ENERGY SOLUTIONS, ALL AT REASONABLE PRICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TRI-COUNTY ELECTRIC COOPERATIVE, INC. IS AN ELECTRIC DISTRIBUTION COOPERATIVE THAT PROVIDED SERVICE TO APPROXIMATELY 16,500 MEMBERS. WITH OVER 3,400 MILES OF ELECTRIC DISTRIBUTION LINES, TRI-COUNTY SERVES ITS MEMBERS WHO ARE LOCATED PRIMARILY IN THE COUNTIES OF JEFFERSON, MARION, AND WASHINGTON IN ILLINOIS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Marcia Scott General Mana | Officer | 45 | $250,373 |
Bradd Grubb Dir Of Opera | 45 | $136,030 | |
Brad Ahlers Foreman | 46 | $128,772 | |
Chad Hope Foreman | 46 | $126,514 | |
Brannon Dasch Foreman | 45 | $125,926 | |
Justin Tellefsen Journeyman L | 46 | $124,300 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Cooperative Building Solutions Contractor | 12/30/21 | $1,327,918 |
Oil Field Tree Service Tree Trimming | 12/30/21 | $252,822 |
Asplundh Tree Expert Co Tree Trimming | 12/30/21 | $680,225 |
Henkels & Mccoy Electric Line | 12/30/21 | $814,577 |
Endrizzi Contracting Inc Tree Trimming | 12/30/21 | $649,450 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,218,100 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,218,100 |
| Total Program Service Revenue | $47,144,130 |
| Investment income | $52,595 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $52,281 |
| Net Gain/Loss on Asset Sales | $52,683 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $48,522,537 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $3,048,771 |
| Compensation of current officers, directors, key employees. | $681,272 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $3,700 |
| Other salaries and wages | $982,485 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $3,131,352 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,149,939 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $48,522,537 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,689,890 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,709,220 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $824,551 |
| Prepaid expenses and deferred charges | $875,409 |
| Net Land, buildings, and equipment | $104,561,585 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $20,288,266 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $133,948,921 |
| Accounts payable and accrued expenses | $8,144,483 |
| Grants payable | $0 |
| Deferred revenue | $3,091,461 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $64,170,520 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $393,003 |
| Total liabilities | $75,799,467 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $1,030,112 |
| Retained earnings, endowment, accumulated income, or other funds | $57,119,342 |
| Total liabilities and net assets/fund balances | $133,948,921 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Tri-County Electric Cooperative has recieved totaling $100,000.
| Awarding Organization | Amount |
|---|---|
National Rural Utilities Cooperative Finance Corp Dulles, VA PURPOSE: INTEGRITY FUND - TERRITORY THREAT | $100,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Northeastern Rural Electric Membership Corporation Columbia City, IN | $154,005,839 | $126,158,719 |
Salt River Electric Bardstown, KY | $187,060,575 | $114,408,015 |
Jackson Energy Cooperative Corporat Ion Inc Mckee, KY | $284,949,026 | $109,799,636 |
N W Electric Power Cooperative Inc Cameron, MO | $276,321,789 | $107,924,696 |
Northwest Iowa Power Cooperative Le Mars, IA | $209,144,882 | $97,805,529 |
Hendricks County Rural Electric Membership Corporation Danville, IN | $222,904,007 | $97,103,288 |
South Central Indiana Rural Electric Membership Corporation Martinsville, IN | $273,130,010 | $92,514,436 |
Northeast Missouri Electric Power Cooperative Palmyra, MO | $173,630,221 | $92,260,519 |
West Kentucky Rural Electric Cooperative Corporation Mayfield, KY | $175,044,197 | $94,020,746 |
Southeastern Illinois Electric Carrier Mills, IL | $211,832,578 | $85,978,289 |
Corn Belt Electric Cooperative Inc Bloomington, IL | $225,280,163 | $84,317,914 |
Nolin Rural Electric Cooperative Corporation Elizabethtown, KY | $169,060,241 | $80,995,142 |