Tri-County Electric Cooperative Inc
- Assets
- $737.1m
- Revenue
- $308.5m
- Investments
- $0.0
- Employees
- 288
- Location
- Aledo, TX
- Founding
- 03/1941
- Data as of
- 12/2021
- EIN
- 75-0619960
Organization Overview
Tri-County Electric Cooperative Inc is located in Aledo, TX. The organization was established in 1941. 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 12/2021, Tri-County Electric Cooperative Inc employed 288 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 12/2021, Tri-County Electric Cooperative Inc generated $308.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.6% each year. All expenses for the organization totaled $313.5m during the year ending 12/2021. While expenses have increased by 3.9% per year over the past 7 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
2021
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
TO PROVIDE ELECTRICITY TO OUR MEMBERS - 126,258 ACTIVE SERVICES AT YEAR-END WERE PROVIDED ELECTRICITY ON A COOPERATIVE BASIS AND WERE ALLOCATED PATRONAGE CAPITAL.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Darryl Schriver President/ce | Officer | 60 | $884,848 |
Melissa Watts CFO | Officer | 55 | $330,573 |
Nichole Eshbaugh Cto | Officer | 55 | $305,439 |
Wesley Scheets COO | Officer | 55 | $237,908 |
Janet Rehberg VP Of Engine | Officer | 55 | $236,534 |
Jimmy Villa Project Coor | 45 | $178,099 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Parish Utilities Llc Construction | 12/30/21 | $6,029,785 |
Ward Electric Company Inc Construction | 12/30/21 | $5,642,950 |
Hardin Tree Inc Tree Trimming | 12/30/21 | $5,407,279 |
Turn Key Utility Construction Inc Construction | 12/30/21 | $4,482,789 |
Volt Power Llc Construction | 12/30/21 | $4,868,920 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $3,482,800 |
| 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 | $3,482,800 |
| Total Program Service Revenue | $303,036,583 |
| Investment income | $812,809 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $684,505 |
| Net Gain/Loss on Asset Sales | $115,441 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $3 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $308,529,771 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $96,564 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $24,515,446 |
| Compensation of current officers, directors, key employees. | $3,526,861 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $6,311,065 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $9,847,128 |
| 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 | $7,241,961 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $19,689,332 |
| Insurance | $0 |
| All other expenses | $2,080 |
| Total functional expenses | $313,479,080 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $915,061 |
| Savings and temporary cash investments | $2,600 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $9,382,139 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $888,812 |
| Net Land, buildings, and equipment | $539,605,097 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $169,619,482 |
| Intangible assets | $0 |
| Other assets | $16,642,269 |
| Total assets | $737,055,460 |
| Accounts payable and accrued expenses | $37,066,701 |
| 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 | $235,976,517 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $49,996,287 |
| Total liabilities | $323,039,505 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $2,458,911 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $411,557,044 |
| Total liabilities and net assets/fund balances | $737,055,460 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Pedernales Electric Cooperative Inc Johnson City, TX | $2,029,870,184 | $830,415,690 |
Golden Spread Electric Cooperative Inc Amarillo, TX | $1,251,228,427 | $703,244,105 |
Denton County Electric Cooperative Inc Corinth, TX | $1,535,737,864 | $639,082,515 |
South Texas Electric Cooperative Inc Nursery, TX | $1,458,906,185 | $553,923,230 |
East Texas Electric Cooperative Inc Nacogdoches, TX | $1,118,534,652 | $504,330,746 |
Tri-County Electric Cooperative Inc Aledo, TX | $737,055,460 | $308,529,771 |
Northeast Texas Electric Coop Inc Longview, TX | $329,483,821 | $288,674,270 |
Magic Valley Electric Cooperative Inc Mercedes, TX | $542,158,549 | $266,758,522 |
Electric Reliability Council Of Texas Inc 10-10-90 Austin, TX | $3,229,605,813 | $252,635,175 |
Dixie Electric Membership Corporation Baton Rouge, LA | $725,178,434 | $239,155,259 |
Bluebonnet Electric Cooperative Inc Bastrop, TX | $657,902,626 | $247,741,918 |
Southwest Louisiana Electric Lafayette, LA | $508,237,761 | $245,337,577 |