Tri-County Electric Cooperative Inc
- Assets
- $361.0m
- Revenue
- $116.4m
- Investments
- $0.0
- Employees
- 105
- Location
- Hooker, OK
- Founding
- 11/1955
- Data as of
- 12/2023
- EIN
- 73-0539914
Organization Overview
Tri-County Electric Cooperative Inc is located in Hooker, OK. The organization was established in 1955. 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 105 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 $116.4m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 1.9% each year. All expenses for the organization totaled $116.4m during the year ending 12/2023. While expenses have increased by 1.9% 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.
Since 2014, Tri-County Electric Cooperative Inc has awarded 42 individual grants totaling $529,438. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
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
PROVIDING ELECTRIC ENERGY TO OUR MEMBERS - 22,846 ACTIVE SERVICES AT YEAR END WERE PROVIDED ELECTRICITY ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gayla James Secretary/treasurer | OfficerTrustee | 5.29 | $30,332 |
Kyle Hawkins Trustee | Trustee | 2.11 | $26,432 |
Richard Radcliff President | OfficerTrustee | 7.58 | $29,832 |
Larry Dunn Trustee | Trustee | 8.01 | $31,082 |
Shawn Martinez Vice President | OfficerTrustee | 15.67 | $28,832 |
Randy Schreiner Trustee | Trustee | 4.92 | $26,432 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Anixter Power Solutions Llc Materials Provider | 12/30/23 | $18,442,465 |
Nextera Energy Capital Holdings Purchased Power | 12/30/23 | $16,581,581 |
Jcl Power Llc Contractor | 12/30/23 | $6,950,737 |
Enel Green Power Diamond Vista Wind Proj Purchased Power | 12/30/23 | $4,361,256 |
T And R Tower And Power Llc Contractor | 12/30/23 | $2,886,416 |
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 | $114,511,026 |
| Investment income | $1,682,042 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $77 |
| Net Rental Income | $40,441 |
| Net Gain/Loss on Asset Sales | $103,578 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $116,415,035 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $110,454 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $15,390,032 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $7,172,382 |
| 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 | $87,272 |
| Office expenses | $1,584,051 |
| 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 | $11,936,225 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $10,279,333 |
| Insurance | $0 |
| All other expenses | $135,180 |
| Total functional expenses | $116,415,034 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,243,948 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $8,042,617 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $895,508 |
| Prepaid expenses and deferred charges | $3,574,622 |
| Net Land, buildings, and equipment | $252,481,183 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $86,650,373 |
| Intangible assets | $0 |
| Other assets | $5,099,549 |
| Total assets | $360,987,800 |
| Accounts payable and accrued expenses | $8,526,783 |
| 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 | $229,577,065 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $7,874,573 |
| Total liabilities | $245,978,421 |
| 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 | $115,009,379 |
| Total liabilities and net assets/fund balances | $360,987,800 |
Grants Awarded
Over the last fiscal year, Tri-County Electric Cooperative Inc has awarded $28,800 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
GUYMON PUBLIC SCHOOLS PURPOSE: GENERAL FUNDING TO SUPPORT SCHOOL ACTIVITIES | $12,800 |
PANHANDLE STATE FOUNDATION PURPOSE: FUNDING OF SCHOLARSHIPS | $16,000 |