Tri-County Electric Membership Corp
- Assets
- $180.1m
- Revenue
- $53.5m
- Investments
- $0.0
- Employees
- 76
- Location
- Gray, GA
- Founding
- 10/1942
- Data as of
- 12/2023
- EIN
- 58-0465263
Organization Overview
Tri-County Electric Membership Corp is located in Gray, GA. The organization was established in 1942. 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 12/2023, Tri-County Electric Membership Corp employed 76 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Tri-County Electric Membership Corp 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 12/2023, Tri-County Electric Membership Corp generated $53.5m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.9% each year. All expenses for the organization totaled $54.7m during the year ending 12/2023. While expenses have increased by 3.2% per year over the past 8 years. They've been increasing with an increasing level of total revenue. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE THE BEST POSSIBLE ELECTRIC SERVICE TO ALL WHO DESIRE IT WITHIN THE SYSTEM AREA AT A REASONABLE COST CONSISTENT WITH THE HIGHEST STANDARDS OF SERVICE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
N/A
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brenda P Green Chairman | OfficerTrustee | 4 | $14,463 |
Sammy O Hall Vice-Chairma | OfficerTrustee | 1.2 | $10,463 |
Thomas Noles-Thru 1123 Secretary/tr | OfficerTrustee | 1 | $9,808 |
Dan Z Greene-For 1223 Secretary/tr | OfficerTrustee | 2.99 | $11,963 |
Marion Nelson Director | Trustee | 2.58 | $11,363 |
Mike S Rainey III Director | Trustee | 2.29 | $12,563 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ferreira Power South Llc Engineering | 12/30/23 | $517,677 |
Conexon Llc Broadband | 12/30/23 | $2,857,849 |
Bradley J Capps Engineering | 12/30/23 | $452,231 |
Jcl Energy Llc Transformers | 12/30/23 | $440,198 |
Technologies Llc Fiber Drops | 12/30/23 | $357,014 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| 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 | $0 |
| Total Program Service Revenue | $54,405,246 |
| Investment income | $311,452 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $53,549,073 |
| 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 | $3,591,088 |
| Compensation of current officers, directors, key employees. | $423,797 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| 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 | $4,774,127 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,346,532 |
| Insurance | $0 |
| All other expenses | $1,438,190 |
| Total functional expenses | $54,716,698 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $767,240 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $9,082,670 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $5,718,765 |
| Inventories for sale or use | $837,453 |
| Prepaid expenses and deferred charges | $134,638 |
| Net Land, buildings, and equipment | $164,976,703 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | -$1,448,590 |
| Intangible assets | $0 |
| Other assets | $53,011 |
| Total assets | $180,121,890 |
| Accounts payable and accrued expenses | $6,963,137 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $123,853,781 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,070,080 |
| Total liabilities | $131,886,998 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $93,475 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $48,141,417 |
| Total liabilities and net assets/fund balances | $180,121,890 |