Tri-County Electric Membership Corporation
- Assets
- $220.3m
- Revenue
- $150.6m
- Investments
- $0.0
- Employees
- 135
- Location
- Lafayette, TN
- Founding
- 08/1943
- Data as of
- 06/2023
- EIN
- 62-0387653
Organization Overview
Tri-County Electric Membership Corporation is located in Lafayette, TN. 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 06/2023, Tri-County Electric Membership Corporation employed 135 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Tri-County Electric Membership Corporation 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 06/2023, Tri-County Electric Membership Corporation generated $150.6m 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 $143.4m during the year ending 06/2023. While expenses have increased by 2.6% 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 BE THE PROVIDER OF CHOICE FOR ENERGY RELATED SERVICES BY EXCEEDING CUSTOMER EXPECTATIONS AND PROVIDING COMMUNITY LEADERSHIP; YOUR PARTNER IN A CHANGING AND COMPETITIVE WORLD
Describe the Organization's Program Activity:
Part 3 - Line 4a
REVENUE EXCEEDED EXPENSES BY $7,142,317.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paul Thompson Chief Executive Officer | OfficerTrustee | 50 | $279,817 |
Tammy Dixon Director Of H.r. & External Relations | Officer | 40 | $153,492 |
Glenn Hale Director Of Finance & Administration | Officer | 40 | $141,329 |
Jimmy Beecham Director Of Engineering And Operations | Officer | 50 | $163,926 |
Mike Miller Director | Trustee | 3 | $11,726 |
Bret Carver Director | Trustee | 3 | $11,044 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Stafford Bush Hogging Right Of Way Clearing | 6/29/23 | $328,415 |
Jason Johnson Fiber Construction Contractor | 6/29/23 | $439,624 |
W A Kendall And Co Llc Tree Trimming Services | 6/29/23 | $2,444,085 |
Da Mar Construction Llc Construction | 6/29/23 | $179,710 |
Joseph Henry Right Of Way Clearing | 6/29/23 | $263,894 |
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 | $149,860,331 |
| Investment income | $693,918 |
| 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 | $150,554,249 |
| 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 | $0 |
| Compensation of current officers, directors, key employees. | $1,257,515 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $6,279,878 |
| Pension plan accruals and contributions | $1,285,701 |
| Other employee benefits | $1,961,979 |
| Payroll taxes | $547,560 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $40,718 |
| Fees for services: Accounting | $13,950 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $3,397,840 |
| Advertising and promotion | $0 |
| Office expenses | $49,411 |
| Information technology | $694,741 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $1,107,925 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $722,529 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $9,771,836 |
| Insurance | $397,256 |
| All other expenses | $1,751,144 |
| Total functional expenses | $143,411,932 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,097,446 |
| Savings and temporary cash investments | $18,467,073 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,718,423 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,710,712 |
| Inventories for sale or use | $6,408,027 |
| Prepaid expenses and deferred charges | $1,207,258 |
| Net Land, buildings, and equipment | $172,362,786 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $11,311,085 |
| Total assets | $220,282,810 |
| Accounts payable and accrued expenses | $17,339,671 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $25,038,525 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $15,670,367 |
| Total liabilities | $58,048,563 |
| 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 | $214,575 |
| Retained earnings, endowment, accumulated income, or other funds | $162,019,672 |
| Total liabilities and net assets/fund balances | $220,282,810 |