Civic Intelligence

Tri-County Electric Membership Corporation

990 • Fiscal year 2018 • EIN 58-0465263

Jan 01, 2018 to Dec 31, 2018 • Filed on Nov 11, 2019

PO Box 487Gray, GA 31032

(478) 986-8100

Siviq Scores

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

Liabilities / Assets

72nd percentile

0.62x

Higher debt load relative to assets than 72% of similar nonprofits.

2018 filings • 501(c)12 • $100M-$250M nonprofits • Source year 2018

Liabilities / Revenue

70th percentile

1.59x

Higher debt load relative to revenue than 70% of similar nonprofits.

2018 filings • 501(c)12 • $100M-$250M nonprofits • Source year 2018

Net Margin

52nd percentile

0.0%

Higher net margin than 52% of similar nonprofits.

2018 filings • 501(c)12 • $100M-$250M nonprofits • Source year 2018

Top Officer Pay

25th percentile

$257,498

Higher top officer pay than 25% of similar nonprofits.

Top officer pay equals 0.5% of source-year revenue.

2018 filings • 501(c)12 • $100M-$250M nonprofits • Source year 2018

Asset Growth

55th percentile

3.7%

Faster asset growth than 55% of similar nonprofits.

2018 filings • 501(c)12 • $100M-$250M nonprofits • Annualized from 2017 to 2018

Revenue Growth

78th percentile

9.8%

Faster revenue growth than 78% of similar nonprofits.

2018 filings • 501(c)12 • $100M-$250M nonprofits • Annualized from 2017 to 2018

Assets

Up

$122,092,917

Up $4,409,996 (+3.7%) from 2017

Net Assets

Up

$46,694,711

Up $2,854,182 (+6.5%) from 2017

Liabilities

Up

$75,398,206

Up $1,555,814 (+2.1%) from 2017

Revenue

Up

$47,512,310

Up $4,238,252 (+9.8%) from 2017

Expenses

Up

$47,512,310

Up $4,238,252 (+9.8%) from 2017

Net Income

Flat

$0

Flat from 2017

Historical Trend

Balance Sheet Trend

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

$200M$150M$100M$50M$0Assets 2011: $104,267,512Liabilities 2011: $70,125,594Net Assets 2011: $34,141,9182011Assets 2012: $103,411,112Liabilities 2012: $67,655,493Net Assets 2012: $35,755,6192012Assets 2013: $107,789,107Liabilities 2013: $70,736,650Net Assets 2013: $37,052,4572013Assets 2014: $109,036,089Liabilities 2014: $70,123,642Net Assets 2014: $38,912,4472014Assets 2015: $108,450,853Liabilities 2015: $68,268,655Net Assets 2015: $40,182,1982015Assets 2016: $112,938,421Liabilities 2016: $71,409,601Net Assets 2016: $41,528,8202016Assets 2017: $117,682,921Liabilities 2017: $73,842,392Net Assets 2017: $43,840,5292017Assets 2018: $122,092,917Liabilities 2018: $75,398,206Net Assets 2018: $46,694,7112018Assets 2019: $111,151,431Liabilities 2019: $73,655,840Net Assets 2019: $37,495,5912019Assets 2020: $115,702,069Liabilities 2020: $73,502,583Net Assets 2020: $42,199,4862020Assets 2021: $134,615,818Liabilities 2021: $89,957,411Net Assets 2021: $44,658,4072021Assets 2022: $162,878,320Liabilities 2022: $116,539,062Net Assets 2022: $46,339,2582022Assets 2023: $180,121,890Liabilities 2023: $131,886,998Net Assets 2023: $48,234,8922023Assets 2024: $190,379,579Liabilities 2024: $140,145,367Net Assets 2024: $50,234,2122024

Highlighted filing

2018

Assets$122,092,917
Liabilities$75,398,206
Net Assets$46,694,711

Operations Trend

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

$60M$40M$20M$0-$20MRevenue 2011: $44,309,213Expenses 2011: $44,309,213Net Income 2011: $02011Revenue 2012: $40,611,545Expenses 2012: $40,611,545Net Income 2012: $02012Revenue 2013: $42,078,565Expenses 2013: $42,078,595Net Income 2013: -$302013Revenue 2014: $47,124,038Expenses 2014: $47,124,038Net Income 2014: $02014Revenue 2015: $40,878,644Expenses 2015: $40,878,644Net Income 2015: $02015Revenue 2016: $42,605,670Expenses 2016: $42,605,670Net Income 2016: $02016Revenue 2017: $43,274,058Expenses 2017: $43,274,058Net Income 2017: $02017Revenue 2018: $47,512,310Expenses 2018: $47,512,310Net Income 2018: $02018Revenue 2019: $49,521,572Expenses 2019: $49,521,572Net Income 2019: $02019Revenue 2020: $44,814,237Expenses 2020: $44,814,237Net Income 2020: $02020Revenue 2021: $47,083,595Expenses 2021: $48,675,267Net Income 2021: -$1,591,6722021Revenue 2022: $55,087,354Expenses 2022: $56,835,315Net Income 2022: -$1,747,9612022Revenue 2023: $53,549,073Expenses 2023: $54,716,698Net Income 2023: -$1,167,6252023Revenue 2024: $59,824,108Expenses 2024: $59,575,227Net Income 2024: $248,8812024

Highlighted filing

2018

Revenue$47,512,310
Expenses$47,512,310
Net Income$0
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Nov 11, 2019
Return Version
2018v3.1
Gross Receipts
$47,512,310
Mission and Program Overview

Mission

To provide the best possible electric service to all who desire it within the system area at a reasonable cost consistent with the highest standards of service.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$96,953,164$101,060,323▲ $4,107,159
Rtn Earn Endowment Incm Other Fnds$43,754,609$46,608,021▲ $2,853,412
Investments Program Related$15,394,141$16,142,049▲ $747,908
Accounts Receivable$3,210,137$2,644,364▼ $565,773
Cash and Non-Interest-Bearing Accounts$679,813$1,654,845▲ $975,032
Prepaid Expenses and Deferred Charges$1,127,266$293,440▼ $833,826
Inventories for Sale or Use$311,902$291,413▼ $20,489
Cap Stk Tr Prin Current Funds$85,920$86,690▲ $770
Total Assets$117,682,921$122,092,917▲ $4,409,996
Other Assets Total$6,498$6,483▼ $15
Liabilities
Mortgage Notes Payable Secured by Investment Property$68,509,767$70,004,882▲ $1,495,115
Accounts Payable and Accrued Expenses$4,486,485$4,513,864▲ $27,379
Other Liabilities$846,140$879,460▲ $33,320
Total Liabilities$73,842,392$75,398,206▲ $1,555,814
Net Assets / Fund Balance
Total Net Assets Fund Balance$43,840,529$46,694,711▲ $2,854,182
Total Liabilities and Net Assets / Fund Balance$117,682,921$122,092,917▲ $4,409,996

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$100,019,460$26,981,898$127,001,358
Land$1,040,863-$1,040,863
Investment Program Related Org$2,751--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Raphael M GrinbergCEOFT$203,557$53,941$257,498
Dawn HaskinsSenior Evp aFT$163,878$31,616$195,494
Dawn HaskinsSenior Evp and CFO-$156,634$38,860$195,494
William MarshVP of Dist SFT$137,354$46,808$184,162
William MarshVP of Dist Services-$136,422$47,740$184,162
Gregory MullisVP of Corp.FT$135,940$28,335$164,275
Gregory MullisVP of Corp. Serv.-$129,992$34,283$164,275
Michael HulettOper. SupervFT$111,868$20,486$132,354
Michael SasserN.d. Op. SupFT$104,574$22,615$127,189
Brenda P GreenChairPT$13,249-$13,249
Thomas NolesSecretary/tr-$11,579-$11,579
Cecil B PattersonDirector-$11,199-$11,199
Marion NelsonDirector-$10,999-$10,999
Sammy O HallVice-chairma-$10,887-$10,887
Mike S Rainey IiiDirector-$10,817-$10,817
George ComerDirector-$10,761-$10,761
Dan Z GreeneDirector-$10,000-$10,000
Chester MercerDirector-$9,897-$9,897
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$46,690,280
Investment Income
$822,030
Other Revenue
$0
Change in Net Assets
$0
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$43,409,760
Salaries, Compensation, and Employee Benefits$356,886
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion---$3,910,699
Benefits to Members---$3,745,664
Interest---$3,343,855
Other Expenses---$2,181,299
All Other Expenses---$1,748,931
Current Officers, Directors, Trustees, and Key Employees---$356,886
Total Functional Expenses$0$0$0$47,512,310
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Consumer Deposits$879,460
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 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
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 7A

The cooperative has members who elect members of the governing body as provided for in its bylaws which are included as a part of this return.

Form 990, Page 6, Part VI, Line 7B

Certain decisions of the governing body are subject to approval by members as provided for in its bylaws which are included as a part of this return.

Form 990, Page 6, Part VI, Line 11B

Form 990 is reviewed by the board as provided for in the cooperative's policy which is included as a part of this return.

Form 990, Page 6, Part VI, Line 12C

The cooperative regularly and consistently monitors and enforces compliance with their conflict of interest policy as provided for in its policy which is included as a part of this return.

Form 990, Page 6, Part VI, Line 15A

Ceo compensation is reviewed and approved as provided for in the cooperative's policy which is included as a part of this return.

Form 990, Page 6, Part VI, Line 15B

Key employee compensation is reviewed and approved as provided for in the cooperative's policy which is included as a part of this return.

Form 990, Page 6, Part VI, Line 19

The cooperative makes its bylaws, conflict of interest policy, and financialstatements available to the public as part of its form 990. The form 990 is available upon request as reflected in part vi section c line 18.

Filing and Contact Details

Filer

Filer Name
Tri-county Electric Membership
EIN
58-0465263
Phone
4789868100
Address
PO BOX 487, GRAY, GA 31032

Signing Officer

Name
Raphael M Grinberg
Title
CEO
Phone
4789868100
Signed
2019-11-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Raphael M Grinberg
Formed
1939
Legal Domicile
Ga
Voting Board Members
9
Independent Board Members
9
Employees
68

Preparer

Firm
Mcnair Mclemore Middlebrooks & Co LLC
Address
POST OFFICE BOX ONE, MACON, GA 31202-0001
Preparer
H Terrell Mcmichael Jr
Phone
4787466277
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

Memberships 770 capital credit retirements -1,031,887 retired capital credit gains 141,823 donated capital -2,188 patronage capital credit 3,745,664 total 2,854,182

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IRS990/OtherExpensesGrp/TotalAmt12576067
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IRS990/PYInvestmentIncomeAmt0753036
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IRS990/PYTotalExpensesAmt043274058
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IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt010621132
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt13151296
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt21009250
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt3797174
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt4164765
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt5151125
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt6143227
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt759842
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt827955
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt99287
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt104245
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt112751
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IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc1GA TRANSMISSION CAPITAL CREDIT
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc2CFC PATRONAGE CAPITAL
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc3GRESCO PATRONAGE CAPITAL
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc4SEDC PATRONAGE CAPITAL
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc5FEDERATED CAPITAL CREDITS
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc6SMARR CAPITAL CREDITS
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc7COBANK CAPITAL CREDITS
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc8NRTC CAPITAL CREDITS
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc9GREEN POWER CAPITAL CREDITS
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc10OTHER INVESTMENTS
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc11GSOC CAPITAL CREDITS
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd0C
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd1C
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IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd10C
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd11C
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IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt01040863
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0879460
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0CONSUMER DEPOSITS
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0101060323
IRS990ScheduleD/TotalBookValueProgramRltdAmt016142049
IRS990ScheduleD/TotalLiabilityAmt0879460
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/CompensationCommitteeInd0X
IRS990ScheduleJ/CompensationSurveyInd0X
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt2136422
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt3129992
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount02856
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt121640
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt236949
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt320017
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt29859
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt38318
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt16911
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt2688
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt35552
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0RAPHAEL M GRINBERG
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1DAWN HASKINS
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm2WILLIAM MARSH
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm3GREGORY MULLIS
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0CEO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt1SENIOR EVP AND CFO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt2VP OF DIST SERVICES
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt3VP OF CORP. SERV.
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt2184162
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt3164275
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IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE COOPERATIVE HAS MEMBERS WHO ELECT MEMBERS OF THE GOVERNING BODY AS PROVIDED FOR IN ITS BYLAWS WHICH ARE INCLUDED AS A PART OF THIS RETURN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1CERTAIN DECISIONS OF THE GOVERNING BODY ARE SUBJECT TO APPROVAL BY MEMBERS AS PROVIDED FOR IN ITS BYLAWS WHICH ARE INCLUDED AS A PART OF THIS RETURN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2FORM 990 IS REVIEWED BY THE BOARD AS PROVIDED FOR IN THE COOPERATIVE'S POLICY WHICH IS INCLUDED AS A PART OF THIS RETURN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE COOPERATIVE REGULARLY AND CONSISTENTLY MONITORS AND ENFORCES COMPLIANCE WITH THEIR CONFLICT OF INTEREST POLICY AS PROVIDED FOR IN ITS POLICY WHICH IS INCLUDED AS A PART OF THIS RETURN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4CEO COMPENSATION IS REVIEWED AND APPROVED AS PROVIDED FOR IN THE COOPERATIVE'S POLICY WHICH IS INCLUDED AS A PART OF THIS RETURN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5KEY EMPLOYEE COMPENSATION IS REVIEWED AND APPROVED AS PROVIDED FOR IN THE COOPERATIVE'S POLICY WHICH IS INCLUDED AS A PART OF THIS RETURN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE COOPERATIVE MAKES ITS BYLAWS, CONFLICT OF INTEREST POLICY, AND FINANCIALSTATEMENTS AVAILABLE TO THE PUBLIC AS PART OF ITS FORM 990. THE FORM 990 IS AVAILABLE UPON REQUEST AS REFLECTED IN PART VI SECTION C LINE 18.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7MEMBERSHIPS 770 CAPITAL CREDIT RETIREMENTS -1,031,887 RETIRED CAPITAL CREDIT GAINS 141,823 DONATED CAPITAL -2,188 PATRONAGE CAPITAL CREDIT 3,745,664 TOTAL 2,854,182
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PART XI, LINE 9
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IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false

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.$190$140$50.2$59.8$59.6$0.25
2023Detailed filing. Detailed filing data is available for this year.$180$132$48.2$53.5$54.7$1.17
2022Detailed filing. Detailed filing data is available for this year.$163$117$46.3$55.1$56.8$1.75
2021Detailed filing. Detailed filing data is available for this year.$135$90.0$44.7$47.1$48.7$1.59
2020Detailed filing. Detailed filing data is available for this year.$116$73.5$42.2$44.8$44.8$0.00
2019Detailed filing. Detailed filing data is available for this year.$111$73.7$37.5$49.5$49.5$0.00
2018Detailed filing. Detailed filing data is available for this year.$122$75.4$46.7$47.5$47.5$0.00
2017Detailed filing. Detailed filing data is available for this year.$118$73.8$43.8$43.3$43.3$0.00
2016Detailed filing. Detailed filing data is available for this year.$113$71.4$41.5$42.6$42.6$0.00
2015Summary only. Only limited summary data is available for this year.$108$68.3$40.2$40.9$40.9$0.00
2014Summary only. Only limited summary data is available for this year.$109$70.1$38.9$47.1$47.1$0.00
2013Summary only. Only limited summary data is available for this year.$108$70.7$37.1$42.1$42.1$0.00
2012Summary only. Only limited summary data is available for this year.$103$67.7$35.8$40.6$40.6$0.00
2011Summary only. Only limited summary data is available for this year.$104$70.1$34.1$44.3$44.3$0.00