Civic Intelligence

Thumb Electric Cooperative of Michigan Inc

990 • Fiscal year 2012 • EIN 38-1101255

Jan 01, 2012 to Dec 31, 2012 • Filed on Aug 22, 2013

Organization Profilewww.tecmi.coop
2231 Main Street48475
Siviq Scores

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

Liabilities / Assets

76th percentile

0.64x

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

2012 filings • 501(c)12 • $50M-$100M nonprofits • Source year 2012

Liabilities / Revenue

Score unavailable

No value available

Liabilities-to-revenue requires both liabilities and revenue on this filing.

Source year 2012

Net Margin

Score unavailable

No value available

Net margin requires both revenue and expenses on this filing.

Source year 2012

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2012

Asset Growth

62nd percentile

4.6%

Faster asset growth than 62% of similar nonprofits.

2012 filings • 501(c)12 • $50M-$100M nonprofits • Annualized from 2011 to 2012

Revenue Growth

Score unavailable

No value available

No valid filing value is available for this score.

Balance Sheet
Liabilities / Assets76th percentile

Assets

Up

$62,784,256

Up $2,749,890 (+4.6%) from 2011

Net Assets

Up

$22,632,402

Up $1,189,718 (+5.5%) from 2011

Liabilities

Up

$40,151,854

Up $1,560,172 (+4.0%) from 2011

Revenue And Expenses
Liabilities / RevenueScore unavailableNet MarginScore unavailable

Revenue

-

No earlier filing loaded for comparison.

Expenses

Up

$18,136,571

Up $355,437 (+2.0%) from 2011

Net Income

-

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset Growth62nd percentile

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

$300M$200M$100M$0Assets 2010: $59,373,253Liabilities 2010: $39,204,876Net Assets 2010: $20,168,3772010Assets 2011: $60,034,366Liabilities 2011: $38,591,682Net Assets 2011: $21,442,6842011Assets 2012: $62,784,256Liabilities 2012: $40,151,854Net Assets 2012: $22,632,4022012Assets 2013: $67,035,324Liabilities 2013: $44,375,238Net Assets 2013: $22,660,0862013Assets 2014: $66,941,990Liabilities 2014: $43,116,485Net Assets 2014: $23,825,5052014Assets 2015: $69,750,154Liabilities 2015: $46,181,308Net Assets 2015: $23,568,8462015Assets 2016: $71,955,095Liabilities 2016: $47,779,206Net Assets 2016: $24,175,8892016Assets 2017: $75,917,147Liabilities 2017: $51,231,787Net Assets 2017: $24,685,3602017Assets 2018: $78,243,208Liabilities 2018: $52,650,129Net Assets 2018: $25,593,0792018Assets 2019: $82,093,205Liabilities 2019: $55,751,884Net Assets 2019: $26,341,3212019Assets 2020: $86,613,506Liabilities 2020: $59,352,701Net Assets 2020: $27,260,8052020Assets 2021: $121,318,630Liabilities 2021: $91,875,386Net Assets 2021: $29,443,2442021Assets 2022: $142,582,924Liabilities 2022: $110,594,045Net Assets 2022: $31,988,8792022Assets 2023: $169,361,198Liabilities 2023: $134,122,237Net Assets 2023: $35,238,9612023Assets 2024: $209,440,494Liabilities 2024: $171,777,987Net Assets 2024: $37,662,5072024

Highlighted filing

2012

Assets$62,784,256
Liabilities$40,151,854
Net Assets$22,632,402
Open 2012 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$40M$30M$20M$10M$0-$10MExpenses 2010: $16,981,7502010Expenses 2011: $17,781,1342011Expenses 2012: $18,136,5712012Revenue 2013: $18,855,175Expenses 2013: $18,903,869Net Income 2013: -$48,6942013Revenue 2014: $19,523,241Expenses 2014: $19,551,328Net Income 2014: -$28,0872014Revenue 2015: $19,746,567Expenses 2015: $19,772,114Net Income 2015: -$25,5472015Revenue 2016: $20,430,946Expenses 2016: $20,444,244Net Income 2016: -$13,2982016Revenue 2017: $21,061,541Expenses 2017: $21,088,338Net Income 2017: -$26,7972017Revenue 2018: $22,377,923Expenses 2018: $22,407,026Net Income 2018: -$29,1032018Revenue 2019: $22,231,704Expenses 2019: $22,280,759Net Income 2019: -$49,0552019Revenue 2020: $22,951,554Expenses 2020: $23,006,073Net Income 2020: -$54,5192020Revenue 2021: $24,270,853Expenses 2021: $24,603,733Net Income 2021: -$332,8802021Revenue 2022: $28,200,697Expenses 2022: $27,026,663Net Income 2022: $1,174,0342022Revenue 2023: $31,267,329Expenses 2023: $30,744,976Net Income 2023: $522,3532023Revenue 2024: $34,579,604Expenses 2024: $35,105,488Net Income 2024: -$525,8842024

Highlighted filing

2012

Revenue-
Expenses$18,136,571
Net Income-
Open 2012 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2012 to Dec 31, 2012
Signed
Aug 22, 2013
Return Version
2012v2.1
Gross Receipts
$18,110,119
Mission and Program Overview

Mission

Electric Cooperative. Added Fiber Division 1/21.

Filing and Contact Details

Filer

EIN
38-1101255
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IRS990ScheduleD/Form990ScheduleDPartXIII/Explanation0The Cooperative is exempt from fedral income tax under Section 501(c)(12) of the United States Internal Revenue Code, therefore no provision for federal income tax is recorded. However, income from unrelated business activities is subject to income tax at normal corporate rates. The Cooperative has adopted the provisions of FASB Accounting Standards Codification Topic ASC 740-10. The Cooperative had no unrecognized tax benefits as of December 31, 2012 and 2011. The Cooperative will recognize future accrued interest and penalties related to unrecognized tax benefits in income tax expense if such penalties and interest are incurred. Under normal circumstances, the Cooperative is no longer subject to Federal and State tax examinations by tax authorities for years before 2009. The Cooperative undergoes an annual analysis of its various tax positions, assessing the likelihood of those positions being upheld upon examination with relevant tax authorities, as defined by ASC 740-10.
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IRS990ScheduleJ/Form990ScheduleJPartIII/Explanation0Schedule J, Part II, Column C, Deferred Compensation: Included in other compensation is the estimated current year increase in the actuarial value of the defined benefit plan. This amount does not represent any current year contributions to the plan. It is an estimate of the increase in the actuarial value of the plan received from the NRECA. The current year expense and the increase in actuarial value for each employee are reflected in the Schedule O statement for Form 990, Part VII, Column f.
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IRS990ScheduleJ/Form990ScheduleJPartIII/ReturnReference0Part III
IRS990ScheduleJ/Form990ScheduleJPartII/NamePerson0Dallas Braun
IRS990ScheduleJ/Form990ScheduleJPartII/NontaxableBenefitsFilingOrg04870
IRS990ScheduleJ/Form990ScheduleJPartII/NontaxableBenefitsRelatedOrgs00
IRS990ScheduleJ/Form990ScheduleJPartII/OtherCompensationFilingOrg02605
IRS990ScheduleJ/Form990ScheduleJPartII/OtherCompensationRelatedOrgs00
IRS990ScheduleJ/Form990ScheduleJPartII/Title0General Manager
IRS990ScheduleJ/Form990ScheduleJPartII/TotalCompensationFilingOrg0191086
IRS990ScheduleJ/Form990ScheduleJPartII/TotalCompensationRelatedOrgs00
IRS990/ScheduleJRequired01
IRS990ScheduleJ/SeverancePayment00
IRS990ScheduleJ/SupplementalNonqualRetirePlan00
IRS990ScheduleJ/WrittenEmploymentContract0X
IRS990ScheduleO/GeneralExplanation/Explanation0The Cooperative has members. Each member has one voting right.
IRS990ScheduleO/GeneralExplanation/Explanation1The Board of Directors is elected by the members.
IRS990ScheduleO/GeneralExplanation/Explanation2Members vote on items affecting the bylaws of the Cooperative.
IRS990ScheduleO/GeneralExplanation/Explanation3There are no other committees that act on behalf of the governing board.
IRS990ScheduleO/GeneralExplanation/Explanation4The Form 990 is reviewed and approved by the General Manager and Finance Executive. The Form 990 is then provided to the Board before it is filed with the IRS.
IRS990ScheduleO/GeneralExplanation/Explanation5The Board and management staff conduct a yearly review for any conflicts. The General Manager reviews the documents and determines if a conflict exists. If a conflict exists the General Manager would request the individual to abstain from voting.
IRS990ScheduleO/GeneralExplanation/Explanation6The Board reviews and approves the compensation for the General Manager and Finance Executive in conjunction with NRECA compensation study. Board review and approval process is substantiated in the board minutes.
IRS990ScheduleO/GeneralExplanation/Explanation7The governing documents, conflict of interest policy, and financial statements are available to the public upon request.
IRS990ScheduleO/GeneralExplanation/Explanation8Included in deferred compensation is the current year estimated increase in the actuarial value of the defined benefit plan for the following employees: Dallas Braun $43,945 James Philp $34,459 Mike Affer $12,437 Richard Timko $20,108 Mike Cleland $1,205 Mike Kozlowski $4,888 Jeff Swick $11,225 These amounts are estimates in the increase of the value of the plan and are not current year expenses of the Cooperative. The current year expense for this defined benefit plan are as follows: Dallas Braun $34,691 James Philp $21,752 Mike Affer $18,215 Richard Timko $18,215 Mike Cleland $4,803 Mike Kozlowski $22,189 Jeff Swick $16,976 Because Part IX, line 5 captures only the current year expense of the defined benefit plan of the Cooperative, the compensation in Part IX, line 5 is less than that reported in Part VII.
IRS990ScheduleO/GeneralExplanation/Explanation9The salaries, pension, and payroll taxes reported on lines 5-10 are already included in distribution expense, administrative & general expense and customer expense. Therefore, these amounts are being subtracted out as an other deduction on line 24e in the amount of $(2,963,486).
IRS990ScheduleO/GeneralExplanation/Explanation10The Cooperative has interpreted the instructions to Part IX, Line 4, to mean patronage capital allocated for the year, rather than patronage capital retired. This is consistent with the Bylaws of the Cooperative.
IRS990ScheduleO/GeneralExplanation/Explanation11Memberships Issued 2,810. Other Equity Transactions 69,136. Retirement of Capital Credits -291,833. Patronage Capital Credits Allocated During Current Year 1,455,762.
IRS990ScheduleO/GeneralExplanation/Identifier0Estimated Amount of Other Compensation -
IRS990ScheduleO/GeneralExplanation/Identifier1Other Expenses -
IRS990ScheduleO/GeneralExplanation/Identifier2Benefits Paid to Members -
IRS990ScheduleO/GeneralExplanation/Identifier3Changes in Net Assets or Fund Balances:
IRS990ScheduleO/GeneralExplanation/ReturnReference0Form 990, Part VI, Section A, line 6
IRS990ScheduleO/GeneralExplanation/ReturnReference1Form 990, Part VI, Section A, line 7a
IRS990ScheduleO/GeneralExplanation/ReturnReference2Form 990, Part VI, Section A, line 7b
IRS990ScheduleO/GeneralExplanation/ReturnReference3Form 990, Part VI, Section A, line 8b
IRS990ScheduleO/GeneralExplanation/ReturnReference4Form 990, Part VI, Section B, line 11
IRS990ScheduleO/GeneralExplanation/ReturnReference5Form 990, Part VI, Section B, line 12c
IRS990ScheduleO/GeneralExplanation/ReturnReference6Form 990, Part VI, Section B, line 15
IRS990ScheduleO/GeneralExplanation/ReturnReference7Form 990, Part VI, Section C, line 19

Document Assets

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Filings

Displayed year

2012 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$62,784,256
Liabilities
$40,151,854
Net assets
$22,632,402
Revenue
-
Expenses
$18,136,571
Net income
-
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$209$172$37.7$34.6$35.1$0.53
2023Detailed filing. Detailed filing data is available for this year.$169$134$35.2$31.3$30.7$0.52
2022Detailed filing. Detailed filing data is available for this year.$143$111$32.0$28.2$27.0$1.17
2021Detailed filing. Detailed filing data is available for this year.$121$91.9$29.4$24.3$24.6$0.33
2020Detailed filing. Detailed filing data is available for this year.$86.6$59.4$27.3$23.0$23.0$0.05
2019Detailed filing. Detailed filing data is available for this year.$82.1$55.8$26.3$22.2$22.3$0.05
2018Detailed filing. Detailed filing data is available for this year.$78.2$52.7$25.6$22.4$22.4$0.03
2017Detailed filing. Detailed filing data is available for this year.$75.9$51.2$24.7$21.1$21.1$0.03
2016Detailed filing. Detailed filing data is available for this year.$72.0$47.8$24.2$20.4$20.4$0.01
2015Detailed filing. Detailed filing data is available for this year.$69.8$46.2$23.6$19.7$19.8$0.03
2014Detailed filing. Detailed filing data is available for this year.$66.9$43.1$23.8$19.5$19.6$0.03
2013Detailed filing. Detailed filing data is available for this year.$67.0$44.4$22.7$18.9$18.9$0.05
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$62.8$40.2$22.6$18.1
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$60.0$38.6$21.4$17.8
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$59.4$39.2$20.2$17.0