Tri-County Electric Cooperative Inc
- Assets
- $1.5b
- Revenue
- $454.0m
- Investments
- $0.0
- Employees
- 344
- Location
- Aledo, TX
- Founding
- 03/1941
- Data as of
- 12/2023
- EIN
- 75-0619960
Organization Overview
Tri-County Electric Cooperative Inc is located in Aledo, TX. The organization was established in 1941. 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 Cooperative Inc employed 344 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 12/2023, Tri-County Electric Cooperative Inc generated $454.0m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 7.3% each year. All expenses for the organization totaled $454.3m during the year ending 12/2023. While expenses have increased by 7.3% 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
2023
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
TO PROVIDE TO OUR MEMBERS - 137,184 ACTIVE SERVICES AT YEAR-END WERE PROVIDED ELECTRICITY ON A COOPERATIVE BASIS AND WERE ALLOCATED PATRONAGE CAPITAL.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Steve Harris Director | Trustee | 4.8 | $50,500 |
Kevin Ingle Director | Trustee | 5 | $42,000 |
John Killough Vice-Chairman | OfficerTrustee | 5.4 | $41,400 |
Margaret Koprek Secretary/treasurer | OfficerTrustee | 13.2 | $43,200 |
Sommer Portwood Director | Trustee | 10 | $47,400 |
Michael Sivertsen Director | Trustee | 17.8 | $51,000 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Parish Utilities Llc Construction | 12/30/23 | $8,370,727 |
Hardin Tree Inc Tree Trimming | 12/30/23 | $7,216,567 |
Primoris T&d Services Llc Construction | 12/30/23 | $6,740,049 |
Revolution Power Llc Construction | 12/30/23 | $4,592,960 |
Axis Power Llc Construction | 12/30/23 | $4,320,346 |
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 | $447,490,720 |
| Investment income | $811,141 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $83,713 |
| Net Gain/Loss on Asset Sales | $112,910 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $454,006,532 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $41,873 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $14,098,246 |
| Compensation of current officers, directors, key employees. | $2,966,956 |
| 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 | $43,481,509 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $23,304,626 |
| Insurance | $0 |
| All other expenses | $2,016,119 |
| Total functional expenses | $454,255,140 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,460,547 |
| Savings and temporary cash investments | $2,600 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $23,835,895 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $2,235 |
| Prepaid expenses and deferred charges | $1,481,964 |
| Net Land, buildings, and equipment | $741,403,530 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $172,115,381 |
| Intangible assets | $0 |
| Other assets | $512,047,213 |
| Total assets | $1,454,349,365 |
| Accounts payable and accrued expenses | $41,726,057 |
| 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 | $879,744,116 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $93,407,791 |
| Total liabilities | $1,014,877,964 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $2,689,298 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $436,782,103 |
| Total liabilities and net assets/fund balances | $1,454,349,365 |