Tri-County Electric Cooperative Inc
- Assets
- $321.4m
- Revenue
- $101.0m
- Investments
- $0.0
- Employees
- 105
- Location
- Hooker, OK
- Founding
- 11/1955
- Data as of
- 12/2021
- EIN
- 73-0539914
Organization Overview
Tri-County Electric Cooperative Inc is located in Hooker, OK. The organization was established in 1955. 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 Inc employed 105 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Tri-County Electric Cooperative Inc 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 Inc generated $101.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.4% each year. All expenses for the organization totaled $101.0m during the year ending 12/2021. While expenses have increased by 0.4% 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.
Since 2014, Tri-County Electric Cooperative Inc has awarded 33 individual grants totaling $401,038. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE QUALITY AND RELIABLE ELECTRIC SERVICE TO MEMBERS OF THE COOPERATIVE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDING ELECTRIC ENERGY TO OUR MEMBERS - 22,662 ACTIVE SERVICES AT YEAR END WERE PROVIDED ELECTRICITY ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Zachary Perkins Chief Executive Officer | Officer | 40 | $299,334 |
Lyle Mathis Chief Operations Officer | 40 | $189,625 | |
Chris Giles Regulatory Policy & Compliance Manager | 40 | $187,094 | |
Michael Davis Chief Administrative Officer | 40 | $183,778 | |
Chris Purdy Assistant General Manager | 40 | $181,356 | |
John Collier Chief Finance Officer | Officer | 40 | $181,209 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Anixter Power Solutions Llc Materials Provider | 12/30/21 | $12,882,882 |
Jcl Power Llc Storm Contractor | 12/30/21 | $7,084,985 |
T And R Tower And Power Llc Contractor | 12/30/21 | $2,164,040 |
Gridliance High Plains Llc Transmission Services | 12/30/21 | $9,681,692 |
Enel Green Power Diamond Vista Wind Proj Purchased Power | 12/30/21 | $5,336,529 |
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 | $100,725,224 |
| Investment income | $69,817 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $77,711 |
| Net Rental Income | $46,733 |
| Net Gain/Loss on Asset Sales | $78,794 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $100,998,279 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $151,362 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $1,728,618 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $6,374,425 |
| 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 | $102,708 |
| Office expenses | $1,573,657 |
| 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 | $10,893,310 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $10,547,035 |
| Insurance | $0 |
| All other expenses | $216,520 |
| Total functional expenses | $100,998,281 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,966,962 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $11,874,751 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $883,876 |
| Prepaid expenses and deferred charges | $7,131,210 |
| Net Land, buildings, and equipment | $237,642,163 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $53,408,950 |
| Intangible assets | $0 |
| Other assets | $6,491,033 |
| Total assets | $321,398,945 |
| Accounts payable and accrued expenses | $7,984,427 |
| 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 | $210,645,857 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $6,301,848 |
| Total liabilities | $224,932,132 |
| 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 | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $96,466,813 |
| Total liabilities and net assets/fund balances | $321,398,945 |
Grants Awarded
Over the last fiscal year, Tri-County Electric Cooperative Inc has awarded $61,054 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
OKLAHOMA PANHANDLE STATE UNIVERSITY PURPOSE: GENERAL FUNDING TO SUPPORT SCHOOL ACTIVITIES | $20,000 |
Goodwell, OK PURPOSE: FUNDING OF SCHOLARSHIPS | $16,000 |
GUYMON PUBLIC SCHOOLS PURPOSE: GENERAL FUNDING TO SUPPORT SCHOOL ACTIVITIES | $15,054 |
Dulles, VA PURPOSE: FUNDING OF INTEGRITY FUND | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Pedernales Electric Cooperative Inc Johnson City, TX | $2,029,870,184 | $830,415,690 |
Golden Spread Electric Cooperative Inc Amarillo, TX | $1,251,228,427 | $703,244,105 |
Denton County Electric Cooperative Inc Corinth, TX | $1,535,737,864 | $639,082,515 |
South Texas Electric Cooperative Inc Nursery, TX | $1,458,906,185 | $553,923,230 |
East Texas Electric Cooperative Inc Nacogdoches, TX | $1,118,534,652 | $504,330,746 |
Intermountain Rural Electric Association Sedalia, CO | $1,228,049,117 | $331,307,918 |
Tri-County Electric Cooperative Inc Aledo, TX | $737,055,460 | $308,529,771 |
United Power Inc Brighton, CO | $596,297,380 | $312,195,991 |
Northeast Texas Electric Coop Inc Longview, TX | $329,483,821 | $288,674,270 |
Magic Valley Electric Cooperative Inc Mercedes, TX | $542,158,549 | $266,758,522 |
Electric Reliability Council Of Texas Inc 10-10-90 Austin, TX | $3,229,605,813 | $252,635,175 |
Bluebonnet Electric Cooperative Inc Bastrop, TX | $657,902,626 | $247,741,918 |