Tri-County Electric Membership Corp is located in Gray, GA. The organization was established in 1942. 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 Membership Corp employed 76 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Tri-County 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 12/2023, Tri-County Electric Membership Corp generated $53.5m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.9% each year. All expenses for the organization totaled $54.7m during the year ending 12/2023. While expenses have increased by 3.2% 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
TO PROVIDE THE BEST POSSIBLE ELECTRIC SERVICE TO ALL WHO DESIRE IT WITHIN THE SYSTEM AREA AT A REASONABLE COST CONSISTENT WITH THE HIGHEST STANDARDS OF SERVICE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
N/A
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Brenda P Green Chairman | OfficerTrustee | 4 | $14,463 |
Sammy O Hall Vice-Chairma | OfficerTrustee | 1.2 | $10,463 |
Thomas Noles-Thru 1123 Secretary/tr | OfficerTrustee | 1 | $9,808 |
Dan Z Greene-For 1223 Secretary/tr | OfficerTrustee | 2.99 | $11,963 |
Marion Nelson Director | Trustee | 2.58 | $11,363 |
Mike S Rainey III Director | Trustee | 2.29 | $12,563 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Ferreira Power South Llc Engineering | 12/30/23 | $517,677 |
Conexon Llc Broadband | 12/30/23 | $2,857,849 |
Bradley J Capps Engineering | 12/30/23 | $452,231 |
Jcl Energy Llc Transformers | 12/30/23 | $440,198 |
Technologies Llc Fiber Drops | 12/30/23 | $357,014 |
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 | $54,405,246 |
Investment income | $311,452 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
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 | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $53,549,073 |
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 | $3,591,088 |
Compensation of current officers, directors, key employees. | $423,797 |
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 | $4,774,127 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $5,346,532 |
Insurance | $0 |
All other expenses | $1,438,190 |
Total functional expenses | $54,716,698 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $767,240 |
Savings and temporary cash investments | $0 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $9,082,670 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $5,718,765 |
Inventories for sale or use | $837,453 |
Prepaid expenses and deferred charges | $134,638 |
Net Land, buildings, and equipment | $164,976,703 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | -$1,448,590 |
Intangible assets | $0 |
Other assets | $53,011 |
Total assets | $180,121,890 |
Accounts payable and accrued expenses | $6,963,137 |
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 | $123,853,781 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $1,070,080 |
Total liabilities | $131,886,998 |
Net assets without donor restrictions | $0 |
Net assets with donor restrictions | $0 |
Capital stock or trust principal, or current funds | $93,475 |
Paid-in or capital surplus, or land, building, or equipment fund | $0 |
Retained earnings, endowment, accumulated income, or other funds | $48,141,417 |
Total liabilities and net assets/fund balances | $180,121,890 |