Tri-County Electric Cooperative
- Assets
- $141.2m
- Revenue
- $51.7m
- Investments
- $0.0
- Employees
- 52
- Location
- Mount Vernon, IL
- Founding
- 02/1943
- Data as of
- 12/2023
- EIN
- 37-0555013
Organization Overview
Tri-County Electric Cooperative is located in Mount Vernon, IL. 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 12/2023, Tri-County Electric Cooperative employed 52 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Tri-County Electric Cooperative 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 generated $51.7m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 0.7% each year. All expenses for the organization totaled $51.7m during the year ending 12/2023. While expenses have increased by 1.4% 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 SAFELY PROVIDE OUR MEMBER-OWNERS WITH RELIABLE ELECTRIC SERVICE, SUPERIOR CUSTOMER SERVICE AND PRACTICAL ENERGY SOLUTIONS, ALL AT REASONABLE PRICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TRI-COUNTY ELECTRIC COOPERATIVE, INC. IS AN ELECTRIC DISTRIBUTION COOPERATIVE THAT PROVIDED SERVICE TO APPROXIMATELY 16,500 MEMBERS. WITH OVER 3,400 MILES OF ELECTRIC DISTRIBUTION LINES, TRI-COUNTY SERVES ITS MEMBERS WHO ARE LOCATED PRIMARILY IN THE COUNTIES OF JEFFERSON, MARION, AND WASHINGTON IN ILLINOIS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Luke Johnson General Manager | Officer | 45 | $203,807 |
Brad Ahlers Foreman | 48 | $143,763 | |
Jeffrey C Hope Foreman | 49 | $152,127 | |
Shannon Davis Serviceman | 49 | $149,565 | |
Brannon Dasch Foreman | 49 | $151,865 | |
Christian Kinder Serviceman | 48 | $144,048 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Nussmeyer Tree Services Llc Tree Trimming | 12/30/23 | $813,013 |
Asplundh Tree Expert Co Tree Trimming | 12/30/23 | $1,339,430 |
Henkels Mccoy Inc Electric Line | 12/30/23 | $130,044 |
Osmose Utility Services Inc Inspect Poles | 12/30/23 | $299,948 |
National Information Solutions Software Provider | 12/30/23 | $321,646 |
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 | $51,497,822 |
| Investment income | $169,837 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $52,569 |
| Net Gain/Loss on Asset Sales | $1,502 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $51,742,312 |
| 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 | $3,643,999 |
| Compensation of current officers, directors, key employees. | $523,443 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $990,440 |
| 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 | $3,115,338 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,484,836 |
| Insurance | $0 |
| All other expenses | $151,396 |
| Total functional expenses | $51,742,312 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,927,391 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,261,344 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,100,620 |
| Prepaid expenses and deferred charges | $535,637 |
| Net Land, buildings, and equipment | $107,284,760 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $23,065,139 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $141,174,891 |
| Accounts payable and accrued expenses | $7,045,039 |
| Grants payable | $0 |
| Deferred revenue | $4,406,302 |
| 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 | $65,608,330 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $306,813 |
| Total liabilities | $77,366,484 |
| 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 | $3,148,901 |
| Retained earnings, endowment, accumulated income, or other funds | $60,659,506 |
| Total liabilities and net assets/fund balances | $141,174,891 |