TRI-COUNTY ELECTRIC COOPERATIVE INC (EIN 590485704) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1941

Legal Domicile

Principal Officer

JULIUS HACKETT

Phone

8509732285

Tax Period

2024-01-01 to 2024-12-31

TRI-COUNTY ELECTRIC COOPERATIVE INC, founded in 1941, is a mid-sized nonprofit that reported $59.2M in total revenue in fiscal year 2024. Revenue grew 12% year-over-year, indicating healthy expansion.

Mission

PROVIDE QUALITY-SAFE-AFFORDABLE ELECTRIC SERVICE POWERED BY MEMBERS.

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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%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $58,571,921

Investment Income $61,495

Other Revenue $609,514

TOTAL REVENUE $59,242,930

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,299,004

Fundraising Expenses $0

Program Expenses $59,992,930

Other Expenses $53,846,063

TOTAL EXPENSES $59,992,930

Year-over-Year Comparison

	2024	2023	Change
Revenue	$59,242,930	$52,888,646	+0.1%
Expenses	$59,992,930	$52,888,646	+0.1%
Net Income	$-750,000	$0	N/A

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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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

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

$1,272,604

Total Directors

$41,000

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BENJAMIN WHITE	TRUSTEE	3.00	Director	$5,800	$0	$5,800
BOBBY DODD	PRESIDENT	3.00	Officer Director	$3,200	$0	$3,200
CATHERINE BETHEA	TRUSTEE	3.00	Director	$4,000	$0	$4,000
DONNIE WALDREP	VICE PRESIDENT	3.00	Officer Director	$5,000	$0	$5,000
JOHN CRUCE	TRUSTEE	3.00	Director	$4,000	$0	$4,000
ANN HERRING	TRUSTEE	3.00	Director	$5,800	$0	$5,800
GEORGE WEBB	SECRETARY/TREASURER	3.00	Officer Director	$6,400	$0	$6,400
JOHNNY EDWARDS	TRUSTEE	3.00	Director	$2,400	$0	$2,400
JUNIOR SMITH	TRUSTEE	3.00	Director	$4,400	$0	$4,400
H JULIUS HACKETT	CHIEF EXECUTIVE OFFICER	40.00	Officer	$312,812	$72,428	$385,240
JEFF BREWER	VP ENGINEERING	40.00	Officer	$164,733	$81,907	$246,640
WENDELL WILLIAMS	VP FINANCE	40.00	Officer	$149,967	$71,956	$221,923
JOHN TUTEN	VP OPERATIONS	40.00	Officer	$151,220	$47,856	$199,076
EILEEN HERNDON	VP CORPORATE SVCS	40.00	Officer	$139,399	$65,726	$205,125
JOHN NASH	COOPERATIVE FOREMAN	40.00	Highest	$154,946	$68,704	$223,650
MICHAEL S HENDERSON	DISTRICT CREW LEADER	40.00	Highest	$132,292	$63,901	$196,193
CODY HOLDEN	CREW LEADER	40.00	Highest	$131,271	$60,987	$192,258
TONY STEPHENSON	CREW LEADER	40.00	Highest	$131,614	$52,509	$184,123
DERRICK CALHOUN	IT DIRECTOR	40.00	Highest	$126,208	$70,599	$196,807

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
2024	$59,242,930	$59,992,930	$273,464,698	$-750,000
2023	$52,888,646	$52,888,646	$193,404,609	No data
2022	$53,542,460	$53,542,460	$118,418,057	No data
2021	$40,691,529	$40,691,529	$102,346,093	No data
2020	$39,706,561	$39,706,561	$99,676,333	No data
2019	$40,644,380	$40,644,380	$97,541,131	No data
2018	$40,441,015	$40,441,015	$95,764,105	No data

TRI-COUNTY ELECTRIC COOPERATIVE INC