Tri-County Rural Electric Cooperative Inc
- Assets
- $197.2m
- Revenue
- $45.9m
- Investments
- $0.0
- Employees
- 39
- Location
- Mansfield, PA
- Founding
- 08/1938
- Data as of
- 12/2023
- EIN
- 24-0744667
Organization Overview
Tri-County Rural Electric Cooperative Inc is located in Mansfield, PA. The organization was established in 1938. 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 Rural Electric Cooperative Inc employed 39 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Tri-County Rural 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 Rural Electric Cooperative Inc generated $45.9m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 14.0% each year . All expenses for the organization totaled $44.8m during the year ending 12/2023. While expenses have increased by 14.9% 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
PROVISION OF ELECTRICITY, ON A COOPERATIVE BASIS, TO MEMBERS IN RURAL PENNSYLVANIA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVISION OF ELECTRICITY, ON A COOPERATIVE BASIS, TO MEMBERS IN RURAL PENNSYLVANIA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Chairman | OfficerTrustee | 1 | $37,250 |
Name Not Listed Secretary/treasurer | OfficerTrustee | 1 | $23,594 |
Name Not Listed Vice Chairman | OfficerTrustee | 1 | $21,294 |
Name Not Listed Prea Director | Trustee | 1 | $19,515 |
Name Not Listed Director | Trustee | 1 | $17,015 |
Name Not Listed Director | Trustee | 1 | $23,531 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Henkels & Mccoy Fiber Buildout | 12/30/23 | $5,100,944 |
Graybar Fiber Buildout | 12/30/23 | $3,815,712 |
Patriot Tree Surgeons Row Clearing | 12/30/23 | $3,143,250 |
Bnf Poweline Pole Setting | 12/30/23 | $2,517,766 |
Manning Technology Fiber Buildout | 12/30/23 | $1,237,393 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,183,410 |
| 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 | $1,183,410 |
| Total Program Service Revenue | $42,960,669 |
| Investment income | $160,380 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $304,649 |
| Net Gain/Loss on Asset Sales | $1,204,138 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $20,532 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $45,897,232 |
| 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 | $1,103,506 |
| Compensation of current officers, directors, key employees. | $1,183,150 |
| 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 | $25,210 |
| Advertising and promotion | $308,952 |
| 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 | $5,394,535 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,343,810 |
| Insurance | $0 |
| All other expenses | $881,125 |
| Total functional expenses | $44,807,335 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $570,931 |
| Savings and temporary cash investments | $907,095 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,613,510 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $2,466,278 |
| Prepaid expenses and deferred charges | $492,085 |
| Net Land, buildings, and equipment | $155,155,331 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $31,142,152 |
| Intangible assets | $87,384 |
| Other assets | $749,231 |
| Total assets | $197,183,997 |
| Accounts payable and accrued expenses | $6,320,534 |
| Grants payable | $0 |
| Deferred revenue | $6,235,027 |
| 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 | $128,626,681 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,923,003 |
| Total liabilities | $143,105,245 |
| 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 | $54,078,752 |
| Total liabilities and net assets/fund balances | $197,183,997 |