Tri-County Electric Membership
- Assets
- $217.4m
- Revenue
- $143.2m
- Investments
- $0.0
- Employees
- 136
- Location
- Lafayette, TN
- Founding
- 08/1943
- Data as of
- 06/2022
- EIN
- 62-0387653
Organization Overview
Tri-County Electric Membership is located in Lafayette, TN. 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 06/2022, Tri-County Electric Membership employed 136 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Tri-County Electric Membership 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 06/2022, Tri-County Electric Membership generated $143.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.6% each year. All expenses for the organization totaled $132.5m during the year ending 06/2022. While expenses have increased by 1.8% per year over the past 7 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
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
Describe the Organization's Program Activity:
Part 3 - Line 4a
REVENUE EXCEEDED EXPENSES BY $0,743,410.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paul Thompson Chief Executive Officer | OfficerTrustee | 50 | $263,145 |
Jimmy Beecham Director Of Engineering And Operations | Officer | 50 | $158,338 |
Tammy Dixon Director Of H.r. & External Relations | Officer | 40 | $143,464 |
Glenn Hale Director Of Finance & Administration | Officer | 40 | $134,185 |
Kelby Graves Director | Trustee | 3 | $11,100 |
Mark Linkous Director | Trustee | 3 | $9,600 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Joseph Henry Right Of Way Clearing | 6/29/22 | $294,429 |
W A Kendall And Co Llc Tree Trimming Services | 6/29/22 | $1,716,637 |
Stafford Bush Hogging Right Of Way Clearing | 6/29/22 | $320,560 |
Jason Johnson Fiber Construction Contractor | 6/29/22 | $300,745 |
Lester Blake Mcintyre Mechanic Services | 6/29/22 | $113,420 |
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 | $143,026,156 |
| Investment income | $203,915 |
| 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 | $143,230,071 |
| 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 | $0 |
| Compensation of current officers, directors, key employees. | $1,168,242 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $6,431,504 |
| Pension plan accruals and contributions | $1,285,701 |
| Other employee benefits | $1,498,468 |
| Payroll taxes | $493,261 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $36,157 |
| Fees for services: Accounting | $31,740 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,666,495 |
| Advertising and promotion | $0 |
| Office expenses | $42,005 |
| Information technology | $551,629 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $819,343 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $683,330 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $8,965,850 |
| Insurance | $225,876 |
| All other expenses | $3,028,487 |
| Total functional expenses | $132,496,661 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,373,825 |
| Savings and temporary cash investments | $25,242,000 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $6,955,811 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $2,617,544 |
| Inventories for sale or use | $3,951,877 |
| Prepaid expenses and deferred charges | $897,075 |
| Net Land, buildings, and equipment | $160,705,795 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $13,609,409 |
| Total assets | $217,353,336 |
| Accounts payable and accrued expenses | $19,753,379 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $26,538,254 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $16,577,369 |
| Total liabilities | $62,869,002 |
| 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 | $212,240 |
| Retained earnings, endowment, accumulated income, or other funds | $154,272,094 |
| Total liabilities and net assets/fund balances | $217,353,336 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
East Kentucky Power Cooperative Inc Winchester, KY | $3,550,114,968 | $954,101,068 |
Middle Tennessee Electric Membership Corporation Murfreesboro, TN | $972,885,002 | $816,151,968 |
Cooperative Energy A Mississippi Electric Cooperative Hattiesburg, MS | $2,085,034,483 | $800,776,225 |
Old Dominion Electric Cooperative Glen Allen, VA | $2,169,039,010 | $801,442,287 |
Northern Virginia Electric Co-Op Manassas, VA | $1,071,859,351 | $676,666,779 |
Powersouth Energy Cooperative Andalusia, AL | $2,439,100,863 | $643,376,000 |
Jackson Electric Membership Corp Jefferson, GA | $1,224,303,203 | $616,720,445 |
Kenergy Corp Henderson, KY | $260,651,880 | $473,591,627 |
Cobb Electric Membership Corporation Marietta, GA | $1,101,529,853 | $448,648,839 |
Sawnee Electric Membership Corp Cumming, GA | $881,772,713 | $421,763,531 |
Rappahannock Electric Cooperative Fredericksburg, VA | $1,043,159,165 | $419,807,187 |
Georgia Transmission Corporation Tucker, GA | $2,954,026,800 | $380,617,270 |