Civic Intelligence

Tri-County Electric Cooperative Inc

990 • Fiscal year 2019 • EIN 24-0744667

Jan 01, 2019 to Dec 31, 2019 • Filed on Nov 02, 2020

22 North Main StreetMansfield, PA 16933

(570) 662-2175

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

76th percentile

0.62x

Higher debt load relative to assets than 76% of similar nonprofits.

2019 filings • 501(c)12 • $100M-$250M nonprofits • Source year 2019

Liabilities / Revenue

84th percentile

1.96x

Higher debt load relative to revenue than 84% of similar nonprofits.

2019 filings • 501(c)12 • $100M-$250M nonprofits • Source year 2019

Net Margin

85th percentile

5.9%

Higher net margin than 85% of similar nonprofits.

2019 filings • 501(c)12 • $100M-$250M nonprofits • Source year 2019

Top Officer Pay

10th percentile

$214,939

Higher top officer pay than 10% of similar nonprofits.

Top officer pay equals 0.6% of source-year revenue.

2019 filings • 501(c)12 • $100M-$250M nonprofits • Source year 2019

Asset Growth

75th percentile

6.4%

Faster asset growth than 75% of similar nonprofits.

2019 filings • 501(c)12 • $100M-$250M nonprofits • Annualized from 2018 to 2019

Revenue Growth

99th percentile

83%

Faster revenue growth than 99% of similar nonprofits.

2019 filings • 501(c)12 • $100M-$250M nonprofits • Annualized from 2018 to 2019

Assets

Up

$105,968,434

Up $6,385,039 (+6.4%) from 2018

Net Assets

Up

$40,231,772

Up $3,227,022 (+8.7%) from 2018

Liabilities

Up

$65,736,662

Up $3,158,017 (+5.0%) from 2018

Revenue

Up

$33,532,307

Up $15,246,217 (+83%) from 2018

Expenses

Up

$31,551,874

Up $15,059,339 (+91%) from 2018

Net Income

Up

$1,980,433

Up $186,878 (+10%) from 2018

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$300M$200M$100M$0Assets 2010: $73,644,372Liabilities 2010: $54,307,703Net Assets 2010: $19,336,6692010Assets 2011: $77,460,643Liabilities 2011: $56,456,689Net Assets 2011: $21,003,9542011Assets 2012: $79,176,687Liabilities 2012: $57,492,088Net Assets 2012: $21,684,5992012Assets 2013: $83,855,323Liabilities 2013: $59,533,368Net Assets 2013: $24,321,9552013Assets 2014: $86,175,862Liabilities 2014: $58,655,961Net Assets 2014: $27,519,9012014Assets 2015: $88,970,752Liabilities 2015: $59,232,135Net Assets 2015: $29,738,6172015Assets 2016: $91,572,347Liabilities 2016: $59,934,033Net Assets 2016: $31,638,3142016Assets 2017: $95,211,754Liabilities 2017: $60,677,445Net Assets 2017: $34,534,3092017Assets 2018: $99,583,395Liabilities 2018: $62,578,645Net Assets 2018: $37,004,7502018Assets 2019: $105,968,434Liabilities 2019: $65,736,662Net Assets 2019: $40,231,7722019Assets 2020: $127,748,017Liabilities 2020: $83,843,601Net Assets 2020: $43,904,4162020Assets 2021: $151,909,574Liabilities 2021: $100,784,082Net Assets 2021: $51,125,4922021Assets 2022: $180,633,670Liabilities 2022: $128,492,927Net Assets 2022: $52,140,7432022Assets 2023: $197,183,997Liabilities 2023: $143,105,245Net Assets 2023: $54,078,7522023Assets 2024: $212,021,036Liabilities 2024: $157,126,397Net Assets 2024: $54,894,6392024

Highlighted filing

2019

Assets$105,968,434
Liabilities$65,736,662
Net Assets$40,231,772

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$60M$40M$20M$0-$20MExpenses 2010: $12,143,4692010Expenses 2011: $12,253,5012011Expenses 2012: $13,601,9842012Revenue 2013: $16,425,652Expenses 2013: $14,463,342Net Income 2013: $1,962,3102013Revenue 2014: $16,879,248Expenses 2014: $14,226,914Net Income 2014: $2,652,3342014Revenue 2015: $15,791,442Expenses 2015: $14,126,380Net Income 2015: $1,665,0622015Revenue 2016: $16,124,875Expenses 2016: $14,721,559Net Income 2016: $1,403,3162016Revenue 2017: $17,479,292Expenses 2017: $15,348,124Net Income 2017: $2,131,1682017Revenue 2018: $18,286,090Expenses 2018: $16,492,535Net Income 2018: $1,793,5552018Revenue 2019: $33,532,307Expenses 2019: $31,551,874Net Income 2019: $1,980,4332019Revenue 2020: $30,053,624Expenses 2020: $30,878,037Net Income 2020: -$824,4132020Revenue 2021: $33,038,928Expenses 2021: $33,744,150Net Income 2021: -$705,2222021Revenue 2022: $37,667,959Expenses 2022: $37,886,794Net Income 2022: -$218,8352022Revenue 2023: $45,897,232Expenses 2023: $44,807,335Net Income 2023: $1,089,8972023Revenue 2024: $45,714,259Expenses 2024: $45,981,110Net Income 2024: -$266,8512024

Highlighted filing

2019

Revenue$33,532,307
Expenses$31,551,874
Net Income$1,980,433
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Nov 2, 2020
Return Version
2019v5.1
Gross Receipts
$34,103,480
Mission and Program Overview

Mission

Provision of electricity, on a cooperative basis, to members in rural pennsylvania.

Provision of electricity, on a cooperative basis, to members in rural pennsylvania

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$68,308,230$72,211,100▲ $3,902,870
Rtn Earn Endowment Incm Other Fnds$37,004,750$40,231,772▲ $3,227,022
Investments Program Related$21,834,843$23,148,902▲ $1,314,059
Accounts Receivable$4,555,384$4,806,384▲ $251,000
Inventories for Sale or Use$693,832$1,546,815▲ $852,983
Cash and Non-Interest-Bearing Accounts$1,398,590$953,689▼ $444,901
Prepaid Expenses and Deferred Charges$62,486$82,788▲ $20,302
Savings and Temporary Cash Investments$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Intangible Assets$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$99,583,395$105,968,434▲ $6,385,039
Other Assets Total$2,730,030$3,218,756▲ $488,726
Liabilities
Mortgage Notes Payable Secured by Investment Property$56,010,159$61,098,600▲ $5,088,441
Accounts Payable and Accrued Expenses$3,136,498$3,290,372▲ $153,874
Other Liabilities$3,431,988$1,347,690▼ $2,084,298
Grants Payable$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$62,578,645$65,736,662▲ $3,158,017
Net Assets / Fund Balance
Total Net Assets Fund Balance$37,004,750$40,231,772▲ $3,227,022
Total Liabilities and Net Assets / Fund Balance$99,583,395$105,968,434▲ $6,385,039

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$62,038,239$39,414,211$101,452,450
Buildings$7,332,379$1,860,872$9,193,251
Other Land Buildings$2,103,846-$2,103,846
Land$736,636-$736,636
Investment Program Related Org$23,148,902--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
John LykensEngineering DirectorFT$167,258$47,681$214,939
Craig EccherPresident & CEOPT$135,159$54,997$190,156
Barbara CarletonDirector of FinanceFT$112,222$56,192$168,414
James SuccowichServiceman LinemanFT$108,507$45,402$153,909
Ronald ScottChief LinemanFT$105,225$43,156$148,381
Michael LewisJourneyman LinemanFT$109,860$22,164$132,024
Jeremaih TrumpJourneyman LinemanFT$107,803$23,381$131,184
Jerry SasalaDirector-$14,575-$14,575
Valery RobbinsDirector-$13,750-$13,750
Gerald KrinerDirector-$12,100-$12,100
Lowell GeiserDirector-$12,100-$12,100
Matthew WhitingChairman-$11,275-$11,275
Alston TeeterTreasurer/secretary-$10,450-$10,450
Nicholas ReitterDirector-$9,625-$9,625
James DavisDirector-$9,075-$9,075
Alfred CalkinsVice Chairman-$7,150-$7,150

Highest Paid Contractors

ContractorServicesLocationCompensation
Jaflo TreeTree Trimming1575 POND ROAD, Allentown, PA 18104$1,556,847
Vantage PointDesign And Consultin2211 N MINNESOTA STREET, Mitchell, SD 57301$1,017,187
BnfLine Contractor361 BRUMAUGH ROAD, Roaring Spring, PA 16673$826,711
Asplundh Tree Expert CoTree TrimmingPO BOX 532729, Atlanta, GA 30353$660,616
Central Lss ConsultingConsulting1811 AIRPORT ROAD, Falls Creek, PA 15840$141,266
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$30,907,881
Investment Income
$69,020
Other Revenue
$2,555,406
Change in Net Assets
$1,980,433

Audited Revenue Reconciliation

Revenue per Audited Statements
$33,532,307
Revenue Not Reported on Form 990
$149,223
Total Revenue per Audited Statements
$33,681,530
Total Revenue per Form 990
$33,532,307
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$28,998,087
Salaries, Compensation, and Employee Benefits$458,670
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion---$3,031,040
Interest---$2,348,973
Benefits to Members---$2,095,117
Other Expenses---$747,434
All Other Expenses---$555,694
Current Officers, Directors, Trustees, and Key Employees---$458,670
Total Functional Expenses$0$0$0$31,551,874

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$31,551,874
Total Expenses per Audited Statements$29,605,980
Expenses per Audited Statements$29,456,757
Expenses Not Reported on Financial Statements$2,095,117
Other Expense Adjustments$2,095,117
Expenses Not Reported on Form 990$149,223
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Deferred Credits$1,220,994
Postretirement Benefit Obligation$126,696
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 3

Tri-county rural electric cooperative, inc is a party to a management services contract with c&t enterprises, inc. C&t enterprises is a for-profit holding company which is owned by tri-county rural electric cooperative, inc and claverack rural electric cooperative. Tri-county and claverack each own 50% of the stock of c&t enterprises under the terms of the contract, c&t assigns employees to tri-county and provides all payroll and related services. C&t also administers the payroll and benefits of the tri-county president and ceo.

Form 990, Part VI, Section A, Line 6

Members of the rural electric cooperative are consumers of electricity.

Form 990, Part VI, Section A, Line 7A

Governing body is elected by members by ballot vote.

Form 990, Part VI, Section B, Line 11B

A copy of the form 990 was provided to all board members either electronically or in a paper format prior to filing.

Form 990, Part VI, Section B, Line 12C

Annual review and signature of conflict of interest policies conflicts are summarized and provided to board members by management so that any issues can be resolved.

Form 990, Part VI, Section B, Line 15A & 15B

An outside consultant provides the benchmarks for the different tiers of employees. These figures are provided to the board. The board then approves the benchmarks. The board approves the ceo's salary, while the ceo approves the department directors' salaries based on the benchmarks and the budget approved by the board. These benchmarks are updated every few years. The ceo's salary is included in an agreement between the ceo, tri-county and c&t enterprises, inc, a taxable holding company in which tri-county owns 50%. The ceo and president of tri-county also serves as the ceo and president of wellsboro electric company, a subsidiary of c&t enterprises. The ceo and president have a similar agreement between wellsboro and c&t enterprises.

Form 990, Part VI, Section C, Line 19

Copy available at main office.

Form 990, Part VIII, Line 6A

Personal property rental revenues excluded from unrelated business income are related to pole rental income.

Filing and Contact Details

Filer

Filer Name
Tri-county Electric Cooperative Inc
EIN
24-0744667
In Care Of
% BARBARA CARLETON
Phone
5706622175
Address
22 NORTH MAIN STREET, MANSFIELD, PA 16933

Signing Officer

Name
Craig Eccher
Title
President and CEO
Phone
5706622175
Signed
2020-11-02
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Craig Eccher
Formed
1937
Legal Domicile
Pa
Voting Board Members
9
Independent Board Members
5
Employees
39
Volunteers
0

Preparer

Firm
Bkd Llp
Address
PO BOX 3667, LITTLE ROCK, AR 72203-3667
Preparer
Amber Sherrill
Phone
5013721040
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

Change in unclaimed capital credits 29,107 retirement of capital credits 587,448 patronage capital retirement (1,465,083) patronage capital assignable 2,095,117 ----------------- total 1,246,589

Financial Statement Notes

Form 990, Schedule D, Part X, Line 2

Management has evaluated their income tax positions under the guidance included in asc 740. Based on their review, management has not identified any material tax positions to be recorded or disclosed in the financial statements.

Form 990, Schedule D, Part XI, Line 2D

Expenses included in revenue per audit $149,223

Form 990, Schedule D, Part XII, Line 2D

Expenses included in revenue per audit $149,223

Form 990, Schedule D, Part XII, Line 4B

Partonage capital allocated $2,095,117

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IRS990/Form990PartVIISectionAGrp/PersonNm13NICHOLAS REITTER
IRS990/Form990PartVIISectionAGrp/PersonNm14JAMES DAVIS
IRS990/Form990PartVIISectionAGrp/PersonNm15ALFRED CALKINS
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt150
IRS990/Form990PartVIISectionAGrp/TitleTxt0ENGINEERING DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt1PRESIDENT & CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt2DIRECTOR OF FINANCE
IRS990/Form990PartVIISectionAGrp/TitleTxt3SERVICEMAN LINEMAN
IRS990/Form990PartVIISectionAGrp/TitleTxt4CHIEF LINEMAN
IRS990/Form990PartVIISectionAGrp/TitleTxt5JOURNEYMAN LINEMAN
IRS990/Form990PartVIISectionAGrp/TitleTxt6JOURNEYMAN LINEMAN
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11CHAIRMAN
IRS990/Form990PartVIISectionAGrp/TitleTxt12TREASURER/SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15VICE CHAIRMAN
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IRS990/FormationYr01937
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IRS990/FSAuditedBasisGrp/ConsolidatedBasisFinclStmtInd0X
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IRS990/GamingActivitiesInd0false
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IRS990/GrossReceiptsAmt034103480
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IRS990/InterestGrp/TotalAmt02348973
IRS990/InventoriesForSaleOrUseGrp/BOYAmt0693832
IRS990/InventoriesForSaleOrUseGrp/EOYAmt01546815
IRS990/InvestmentIncomeGrp/ExclusionAmt039636
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt039636
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IRS990/InvestmentsOtherSecuritiesGrp/BOYAmt00
IRS990/InvestmentsOtherSecuritiesGrp/EOYAmt00
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IRS990/InvestmentsProgramRelatedGrp/EOYAmt023148902
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IRS990/MinutesOfCommitteesInd0true
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IRS990/MiscellaneousRevenueGrp/ExclusionAmt017653
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IRS990/OtherExpensesGrp/Desc1DISTRIBUTION EXPENSE
IRS990/OtherExpensesGrp/Desc2ADMINISTRATIVE & GENERAL
IRS990/OtherExpensesGrp/Desc3CONSUMER ACCOUNTS
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IRS990/OtherExpensesGrp/TotalAmt16415459
IRS990/OtherExpensesGrp/TotalAmt22640897
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IRS990/ProgramServiceRevenueGrp/BusinessCd1221000
IRS990/ProgramServiceRevenueGrp/Desc0SALES OF ELECTRIC ENERGY
IRS990/ProgramServiceRevenueGrp/Desc1G & T CAPITAL CREDITS
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IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1433487
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1433487
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IRS990/PYOtherExpensesAmt014357458
IRS990/PYOtherRevenueAmt018217999
IRS990/PYProgramServiceRevenueAmt00
IRS990/PYRevenuesLessExpensesAmt01793555
IRS990/PYSalariesCompEmpBnftPaidAmt0421668

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$212$157$54.9$45.7$46.0$0.27
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$197$143$54.1$45.9$44.8$1.09
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$181$128$52.1$37.7$37.9$0.22
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$152$101$51.1$33.0$33.7$0.71
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$128$83.8$43.9$30.1$30.9$0.82
2019Detailed filing. Detailed filing data is available for this year.$106$65.7$40.2$33.5$31.6$1.98
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$99.6$62.6$37.0$18.3$16.5$1.79
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$95.2$60.7$34.5$17.5$15.3$2.13
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$91.6$59.9$31.6$16.1$14.7$1.40
2015Detailed filing. Detailed filing data is available for this year.$89.0$59.2$29.7$15.8$14.1$1.67
2014Detailed filing. Detailed filing data is available for this year.$86.2$58.7$27.5$16.9$14.2$2.65
2013XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$83.9$59.5$24.3$16.4$14.5$1.96
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$79.2$57.5$21.7$13.6
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$77.5$56.5$21.0$12.3
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$73.6$54.3$19.3$12.1
Peer Organizations

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