Tri-County Electric Membership Corporation

EIN: 560432086

Dudley, NC

Total Revenue
$72,029,883
Total Expenses
$71,582,707
Total Assets
$120,741,405
Net Assets
$38,656,031
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1940
Legal Domicile
NC
Principal Officer
J MICHAEL DAVIS
Phone
9197352611
Tax Period
2025-01-01 to 2025-12-31

Tri-County Electric Membership Corporation, founded in 1940, is a mid-sized nonprofit that reported $72.0M in total revenue in fiscal year 2025. Revenue grew 10% year-over-year, indicating healthy expansion.

Mission

TRI-COUNTY ELECTRIC MEMBERSHIP CORPORATION IS A MEMBER-DRIVEN COOPERATIVE COMMITTED TO SAFELY PROVIDE RELIABLE ELECTRIC POWER, OFFER SUPERIOR SERVICE, TAKE AN ACTIVE ROLE IN SUPPORTING THE COMMUNITIES IT SERVES

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2025)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $71,697,490
Investment Income $50,064
Other Revenue $282,329
TOTAL REVENUE $72,029,883

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Other Expenses $68,559,081
TOTAL EXPENSES $71,582,707

Year-over-Year Comparison

2025 2024 Change
Revenue $72,029,883 $65,759,727 +0.1%
Expenses $71,582,707 $64,192,751 +0.1%
Net Income $447,176 $1,566,976 -0.7%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Governance

Voting Members
11
Independent Members
11
Employees
50
Volunteers
N/A

Governance Policies

✗ Conflict of Interest Policy
✗ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
4
$50,700
Total Directors
11
$125,052
Key Employees
3
$760,094
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
J MICHAEL DAVIS GENERAL MANAGER 060.00
Key Emp
$326,818 $0 $326,818
TONY GRANTHAM MANAGER OF ENGINEERING 055.00
Key Emp
$216,818 $0 $216,818
KENNETH E DAVIS JR MANAGER OF FINANCE AND ADMINISTRATION 055.00
Key Emp
$216,458 $0 $216,458
DAVID D THORNTON ENGINEER 050.00
Highest
$166,223 $0 $166,223
ROBERT B KORNEGAY MANAGER MEMBER SVC 040.00
Highest
$156,045 $0 $156,045
RONNIE G MILLER LINE SUPERINTENDENT 040.00
Highest
$154,783 $0 $154,783
STEPHANIE B BROWN ACCOUNTANT 040.00
Highest
$154,529 $0 $154,529
ROY A BEAVERS LINEMAN FOREMAN 055.00
Highest
$152,258 $0 $152,258
CARL W KORNEGAY JR PRESIDENT 008.00
Officer Director
$19,600 $0 $19,600
DAVID RAY VINSON VICE-PRESIDENT 005.00
Officer Director
$15,400 $0 $15,400
WORTH OVERMAN JR DIRECTOR 004.00
Director
$14,500 $0 $14,500
KEITH BEAVERS DIRECTOR 005.00
Director
$13,900 $0 $13,900
RANDY MCCULLEN DIRECTOR 005.00
Director
$13,300 $0 $13,300
BRANDY S ROUSE TREASURER 003.00
Officer Director
$9,500 $0 $9,500
AMANDA A MURPHY DIRECTOR 003.00
Director
$8,852 $0 $8,852
PATRICK LYNCH DIRECTOR 003.00
Director
$8,600 $0 $8,600
SCOTT G BALLARD DIRECTOR 003.00
Director
$7,900 $0 $7,900
JEFF HENDERSON DIRECTOR 003.00
Director
$7,300 $0 $7,300
WILLIAM FARMER JR SECRETARY 008.00
Officer Director
$6,200 $0 $6,200
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 $72,029,883 $71,582,707 $120,741,405 $447,176
2024 No data No data No data No data
2023 $61,498,465 $62,307,096 $104,504,855 $-808,631
2022 $60,563,062 $58,703,229 $97,581,997 $1,859,833
2021 $59,542,754 $56,659,778 $94,565,079 $2,882,976
2020 $58,288,958 $56,558,128 $93,729,368 $1,730,830
2019 $57,962,647 $60,528,824 $92,094,221 $-2,566,177
2018 $57,641,047 $58,439,391 $95,709,686 $-798,344
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