TRI-COUNTY ELECTRIC COOPERATIVE INC

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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

1939

Legal Domicile

Principal Officer

SCOTT SPENCE

Phone

8174443201

Tax Period

2023-01-01 to 2023-12-31

TRI-COUNTY ELECTRIC COOPERATIVE INC, founded in 1939, is a major nonprofit that reported $454.0M in total revenue in fiscal year 2023.

Mission

THE COOPERATIVE'S RESPONSIBILITY AND AIM IS TO PROVIDE EXCELLENT AND INNOVATIVE CUSTOMER SERVICE AS REFLECTED IN TOP QUALITY ELECTRIC SERVICE RELIABILITY, AFFORDABLE RATES, EMPLOYEE TEAMWORK AND THE HIGHEST DEGREE OF INTEGRITY IN ALL COOPERATIVE ENDEAVORS.

Program Service Accomplishments

Program 1

TO PROVIDE TO OUR MEMBERS - 137,184 ACTIVE SERVICES AT YEAR-END WERE PROVIDED ELECTRICITY ON A COOPERATIVE BASIS AND WERE ALLOCATED PATRONAGE CAPITAL.

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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 (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $447,490,720

Investment Income $924,051

Other Revenue $5,591,761

TOTAL REVENUE $454,006,532

Expense Breakdown

Grants Paid $41,873

Salaries & Benefits $2,966,956

Fundraising Expenses $0

Other Expenses $437,148,065

TOTAL EXPENSES $454,255,140

Year-over-Year Comparison

	2023	2022	Change
Revenue	$454,006,532	$435,689,159	+0.0%
Expenses	$454,255,140	$435,340,285	+0.0%
Net Income	$-248,608	$348,874	-1.7%

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

Governance

Voting Members

Independent Members

Employees

344

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

$2,929,444

Total Directors

$410,900

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
STEVE HARRIS	DIRECTOR	4.80	Director	$50,500	$0	$50,500
KEVIN INGLE	DIRECTOR	5.00	Director	$42,000	$0	$42,000
JOHN KILLOUGH	VICE-CHAIRMAN	5.40	Officer Director	$41,400	$0	$41,400
MARGARET KOPREK	SECRETARY/TREASURER	13.20	Officer Director	$43,200	$0	$43,200
SOMMER PORTWOOD	DIRECTOR	10.00	Director	$47,400	$0	$47,400
MICHAEL SIVERTSEN	DIRECTOR	17.80	Director	$51,000	$0	$51,000
MAX WADDELL	BOARD CHAIRMAN	5.00	Officer Director	$44,400	$0	$44,400
JERRY WALDEN	DIRECTOR (THRU 12/23)	11.10	Director	$45,600	$0	$45,600
JORDEN WOOD	DIRECTOR (THRU 11/23)	5.80	Director	$45,400	$0	$45,400
DARRYL SCHRIVER	PRESIDENT & CEO (THRU 7/23)	60.00	Officer	$624,097	$111,620	$735,717
MELISSA WATTS	CFO & VP OF FINANCE	60.00	Officer	$348,928	$109,527	$458,455
WESLEY SCHEETS	COO & VP OF OPERATIONS	60.00	Officer	$327,740	$269,388	$597,128
JANET REHBERG	CSO & VP OF ENGINEERING	60.00	Officer	$315,740	$54,152	$369,892
JENNIFER GOSS	CTO & VP OF TECHNOLOGY (THRU 10/23)	45.00	Officer	$247,066	$43,281	$290,347
LINDSEY GILLUM	CRO & VP OF POWER SUPPLY	55.00	Officer	$204,717	$35,983	$240,700
NICHOLE ESHBAUGH	CTO/VP OF IT (THRU 1/23)	40.00	Officer	$104,740	$3,465	$108,205
DUSTIN TIDBALL	CONTROLLER & AVP OF FINANCE	50.00	Highest	$289,757	$39,953	$329,710
ANDREA MCCLEESE	AVP OF MEMBER SERVICES	55.00	Highest	$225,708	$92,047	$317,755
JONATHAN DOUGLAS	DIRECTOR OF IT & CYBERSECURITY	45.00	Highest	$214,480	$49,720	$264,200
MELONY BLOCK	AVP OF HUMAN RESOURCES	55.00	Highest	$207,664	$33,356	$241,020
DAREN CURRY	DIRECTOR OF ENGINEERING	43.00	Highest	$203,767	$50,943	$254,710

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	No data	No data	No data	No data
2023	$454,006,532	$454,255,140	$1,454,349,365	$-248,608
2022	$435,689,159	$435,340,285	$1,361,410,167	$348,874
2021	$308,529,771	$313,479,080	$737,055,460	$-4,949,309
2020	$263,901,706	$257,019,690	$659,063,840	$6,882,016
2019	$268,674,913	$259,294,629	$596,876,863	$9,380,284
2018	$264,593,606	$262,985,686	$592,067,181	$1,607,920