Tri-State Electric Membership Corp
- Assets
- $66.9m
- Revenue
- $44.4m
- Investments
- $0.0
- Employees
- 46
- Location
- Mccaysville, GA
- Founding
- 07/1979
- Data as of
- 06/2024
- EIN
- 62-0459672
Organization Overview
Tri-State Electric Membership Corp is located in Mccaysville, GA. The organization was established in 1979. 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 06/2024, Tri-State Electric Membership Corp employed 46 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Tri-State 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 06/2024, Tri-State Electric Membership Corp generated $44.4m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 2.9% each year. All expenses for the organization totaled $43.3m during the year ending 06/2024. While expenses have increased by 2.9% per year over the past 9 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE ELECTRIC ENERGY TO RURAL AREAS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE ELECTRIC ENERGY AND RELATED SERVICES TO RURAL AREAS. THE COOPERATIVE SERVICES 21,380 CUSTOMERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jerry Pack President | OfficerTrustee | 10 | $2,725 |
Jesse Miller Vice President | OfficerTrustee | 5 | $2,275 |
Houston Rogers Director | Trustee | 4 | $2,025 |
Jim Quintrell Secretary/treasurer | OfficerTrustee | 3 | $2,275 |
Bill Joe Postell Director | Trustee | 6 | $2,275 |
William Barker Director | Trustee | 5 | $2,275 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Real Tree Corporation Right Of Way Service | 6/29/24 | $3,212,437 |
Vfp Inc Substation Construction | 6/29/24 | $329,925 |
Progressive Solutions Llc Right Of Way Service | 6/29/24 | $140,658 |
Service Electric Company Substation Construction | 6/29/24 | $112,914 |
Patterson & Dewar Engineers Engineering | 6/29/24 | $110,716 |
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 | $43,567,395 |
| Investment income | $131,052 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $727,593 |
| 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 | -$1,560 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $44,424,480 |
| 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. | $814,153 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,850,537 |
| Pension plan accruals and contributions | $317,401 |
| Other employee benefits | $0 |
| Payroll taxes | $279,684 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $18,266 |
| Fees for services: Accounting | $46,323 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $96,126 |
| Office expenses | $488,627 |
| 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 | $16,486 |
| Interest | $955,301 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,262,424 |
| Insurance | $64,059 |
| All other expenses | -$2,857,695 |
| Total functional expenses | $43,272,551 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,237,521 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,826,076 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,263,889 |
| Inventories for sale or use | $1,828,399 |
| Prepaid expenses and deferred charges | $374,044 |
| Net Land, buildings, and equipment | $56,488,290 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $830,937 |
| Intangible assets | $0 |
| Other assets | $11,064 |
| Total assets | $66,860,220 |
| Accounts payable and accrued expenses | $4,476,704 |
| 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 | $22,794,030 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $4,356,139 |
| Total liabilities | $31,626,873 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $82,045 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $35,151,302 |
| Total liabilities and net assets/fund balances | $66,860,220 |