2025-11-10T09:17:33-06:00 2024-12-31 750882037 BOLINGER SEGARS GILBERT AND MOSS LLP 8215 NASHVILLE AVENUE LUBBOCK TX 79423 990 2024-01-01 860082366 TRICO ELECTRIC COOPERATIVE INC TRIC 5207442944 PO BOX 930 MARANA AZ 85653 BRIAN HEITHOFF GM/CEO 5207442944 2025-11-06 1 0 WILLIAM M MILLER P00439459 8067473806 2025-11-06 X 2024 2025-03-06 01:10:19Z BRIAN HEITHOFF PO BOX 930 MARANA AZ 85653 124063187 0 X WWW.TRICO.COOP X 1945 AZ TO PROVIDE ELECTRIC ENERGY TO RURAL AREAS AT COST ON A COOPERATIVE BASIS. 7 7 163 0 0 0 0 0 123158306 123234927 635600 297630 501106 497601 124295012 124030158 140500 50855 8524072 6274700 12680201 15652523 0 0 0 101632658 100739179 122977431 122717257 1317581 1312901 308378003 309324183 159050208 157956465 149327795 151367718 DEDICATED TO MAKING A DIFFERENCE IN THE COMMUNITIES WE SERVE BY PROVIDING OUR MEMBERS COST-EFFECTIVE AND SUSTAINABLE ENERGY SOLUTIONS. 0 0 SALE OF ELECTRIC POWER TO MEMBERS ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL. THERE WERE 54,860 ACTIVE SERVICES AT YEAR END. 0 0 0 0 0 0 0 0 0 1 0 1 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 1 66 0 163 1 0 0 0 0 0 126556376 1749037 0 0 0 X 7 7 0 0 0 0 1 1 1 1 0 0 0 1 1 1 1 1 1 1 1 0 AZ X CHAD RUPE CFO 5207442944 8600 W TANGERINE RD MARANA AZ 85658 X DAVID PROCTOR DIRECTOR 10.00 1.00 X 27678 0 0 JERRY RUTHERFORD ASST. SECRETARY/TREASURER 8.00 1.00 X X 14448 0 0 JOE KING TREASURER 3.00 1.00 X X 9456 0 0 LARRY HINCHLIFFE PRESIDENT 12.00 1.00 X X 29010 0 0 MARSHA THOMPSON VICE PRESIDENT 11.00 1.00 X X 24366 0 0 DARRELL BIRKHIMER DIRECTOR 10.00 1.00 X 28542 0 0 KEVIN MCCARTHY SECRETARY 12.00 1.00 X X 19949 0 0 ERIC HAWKINS CHIEF OPERATING OFFICER/GC 52.00 1.00 X 270772 0 50776 JAMES FREEMAN CHIEF FINANCIAL OFFICER 44.80 1.00 X 204853 0 82661 BRIAN HEITHOFF CHIEF EXECUTIVE OFFICER/GM 55.00 1.00 X 432096 0 95576 LAREE ST ONGE VP MEMBER SERVICES/ENERGY SOLUTIONS 45.00 1.00 X 136918 0 43631 CHARLES GOURDIN VP UTILITY SERVICES 43.50 1.00 X 139167 0 54787 APRIL PARK VP HUMAN RESOURCES AND SAFETY 50.00 1.00 X 140026 0 40681 JUSTIN BANALES VP SYSTEM OPERATIONS 53.00 1.00 X 140479 0 58467 TOREY BELL VP ENGINEERING 53.00 1.00 X 184770 0 115294 MATTHEW FREDERICKSON VP OPERATIONS 50.00 1.00 X 154641 0 54873 CHRIS NEELY MANAGER DISTRIBUTIONS CONSTRUCTION 54.20 X 203752 0 53959 AMOS GARCIA JOURNEYMAN/LINEMAN 51.70 X 149144 0 40075 DIEGO MARTINEZ JOURNEYMAN/LINEMAN 50.00 X 152599 0 41158 BRIAN JACKSON CREWLEADER 59.60 X 156880 0 50031 JEREMY KONSKI CREWLEADER 53.70 X 174070 0 41244 BLAKE REIS JOURNEYMAN/LINEMAN 54.90 X 167560 0 35682 2961176 0 858895 61 0 1 0 BARKER CONTRACTING INC 2127 SPEEDWAY BLVD 101 TUCSON AZ 85719 CONSTRUCTION CONTRACTOR 2758376 NATIONAL INFORMATION SOLUTIONS ONE INNOVATION CIRCLE LAKE SAINT LOUIS MO 63367 SOFTWARE AND BILLING SERVICES 851033 R DIRECTIONAL DRILLING & UNDERGROUND TEC 8560 N 77TH DR PEORIA AZ 85345 UNDERGROUND CONSTRUCTIONS SERVICES 790499 POWERLINE CONTRACTORS WEST INC 17090 W SILVERBELL ROAD MARANA AZ 85653 POWERLINE MAINTENANCE CONTRACTOR 595184 WESTERN UTILITYTELECOM INC 5032 SALEM DALLAS HWY NW SALEM OR 97304 ENGINEERING SERVICES 362040 16 X SALES OF ELECTRICITY 221000 121119095 121119095 PATRONAGE DIVIDENDS 221000 888938 888938 SERVICE FEES 221000 856191 856191 ELECTRICITY WHEELING 221000 370703 370703 123234927 330632 330632 27 33029 -33002 -33002 -33002 POLE ATTACHMENT INCOME 221000 497601 497601 497601 124030158 123201925 0 828233 X 50855 6274700 2811628 8477748 1599046 1256791 1507310 4347149 10318758 PURCHASED POWER 74178847 DISTRIBUTION EXPENSE 5105592 ADMIN & GENERAL EXPENSE 4497717 CONSUMER EXPENSE 1693208 597908 122717257 4685449 2629108 10250000 0 5025265 5780324 10685103 11617581 1836058 1587113 360385183 132508488 215559216 227876695 58155412 57715484 2181500 2117878 308378003 309324183 11700506 11264276 131437917 130009924 15911785 16682265 159050208 157956465 X 0 0 7216511 8197645 142111284 143170073 149327795 151367718 308378003 309324183 X 1312901 727022 X X 0 1 X 0 0 1526695 1526695 11211835 5059094 6152741 318593607 127449394 191144213 29053046 29053046 227876695 PATRONAGE CAPITAL - CFC 962497 C PATRONAGE CAPITAL - AEPCO 49741677 C PATRONAGE CAPITAL - NISC 326504 C PATRONAGE CAPITAL - COBANK 682472 C PATRONAGE CAPITAL - NRTC 11494 C PATRONAGE CAPITAL - FEDERATED 477336 C MEMBERSHIPS IN ASSOC. ORGS. 3235 C INVESTMENT IN SUBSIDIARY COMPANIES 4524321 C CAPITAL TERM CERTIFICATES 970487 C OTHER INVESTMENTS 15461 C 57715484 CONSUMER DEPOSITS 1767957 ACCRUED OPERATING TAXES 2145481 DEFERRED CREDITS - ADVANCES FOR CONSTRUCTION 177757 DEFERRED CREDITS - UNCLAIMED ACCOUNTS 2738873 POWER COST ADJUSTMENT - OVERBILLED 9573514 OTHER LIABILITIES 278683 16682265 X PART X, LINE 2: THE COOPERATIVE ADOPTED THE "UNCERTAIN TAX POSITIONS" PROVISIONS OF ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA. THE PRIMARY TAX POSITION OF THE COOPERATIVE IS ITS FILING STATUS AS A TAX EXEMPT ENTITY. THE COOPERATIVE DETERMINED THAT IT IS MORE LIKELY THAN NOT THAT ITS TAX POSITION WILL BE SUSTAINED UPON EXAMINATION BY THE INTERNAL REVENUE SERVICE (IRS), OR OTHER STATE TAXING AUTHORITY AND THAT ALL TAX BENEFITS ARE LIKELY TO BE REALIZED UPON SETTLEMENT WITH TAXING AUTHORITIES. PART IX: THE AMOUNT OF OTHER ASSETS ON FORM 990, PAGE 11, PART X, LINE 15 DOES NOT EQUAL OR EXCEED 5% OF THE TOTAL ASSETS ON FORM 990, PAGE 11, PART X, LINE 16, COLUMN B. CONSEQUENTLY, IN ACCORDANCE WITH IRS INSTRUCTIONS, SCHEDULE D, PART IX HAS BEEN LEFT BLANK. PART XII, LINE 4B: FOR THE AUDITED FINANCIAL STATEMENTS, THE AMOUNT OF PATRONAGE CAPITAL ALLOCATED OR TO BE ALLOCATED TO THE MEMBERS IS REPORTED AS AN INCREASE IN EQUITY AND NOT AS AN EXPENSE. THEREFORE, NET INCOME PER THE AUDITED FINANCIAL STATEMENTS IS REPORTED GROSS OF THE AMOUNT OF PATRONAGE CAPITAL THAT ARE EITHER ALLOCATED OR TO BE ALLOCATED AT THE TIME THE AUDITED FINANCIAL STATEMENTS ARE PREPARED. HOWEVER, BECAUSE THE ALLOCATION OF PATRONAGE CAPITAL IS ONE ASPECT OF HOW THE COOPERATIVE FULFILLS ITS TAX EXEMPT PURPOSE OF OPERATING ON A COOPERATIVE BASIS, THE AMOUNT OF PATRONAGE CAPITAL EITHER ALLOCATED OR TO BE ALLOCATED TO THE MEMBERS IS REPORTED ON FORM 990, PART IX, LINE 4 AS "BENEFITS PAID TO MEMBERS". 0 HARD HITTERS FOR THE KINGDOM INC 6379 W WILLOW FALLS WAY TUCSON AZ 85757 823249147 501(C)(3) 8000 0 POWER GRANTS 2024 JUNIOR ACHIEVEMENT OF ARIZONA INC 636 WEST SOUTHERN AVENUE TEMPE AZ 85282 860184349 501(C)(3) 10000 0 POWER GRANTS 2024 MARANA FOOD BANK 11734 W GRIER RD MARANA AZ 85653 510192519 501(C)(3) 9050 0 $8,800 BUILDING CAMPAIGN; $250 GENERAL DONATION 3 PART II: ALL GRANTS, SPONSORSHIPS AND/OR DONATIONS ARE MADE TO NON-PROFIT AND CIVIC ORGANIZATIONS THAT ARE LOCATED IN THE COOPERATIVE'S SERVICE AREA, AND ARE INTENDED TO IMPROVE THE COMMUNITIES IN WHICH OUR MEMBERS RESIDE. X X 1 0 0 BRIAN HEITHOFF CHIEF EXECUTIVE OFFICER/GM 417954 0 500 0 13642 0 78022 0 17554 0 527672 0 0 0 ERIC HAWKINS CHIEF OPERATING OFFICER/GC 249425 0 20500 0 847 0 30875 0 19901 0 321548 0 0 0 TOREY BELL VP ENGINEERING 174582 0 500 0 9688 0 85691 0 29603 0 300064 0 0 0 JAMES FREEMAN CHIEF FINANCIAL OFFICER 201405 0 500 0 2948 0 57330 0 25331 0 287514 0 0 0 CHRIS NEELY MANAGER DISTRIBUTIONS CONSTRUCTION 114287 0 0 0 89465 0 37256 0 16703 0 257711 0 0 0 JEREMY KONSKI CREWLEADER 172842 0 500 0 728 0 14120 0 27124 0 215314 0 0 0 MATTHEW FREDERICKSON VP OPERATIONS 148721 0 500 0 5420 0 27490 0 27383 0 209514 0 0 0 BRIAN JACKSON CREWLEADER 156027 0 500 0 353 0 26714 0 23317 0 206911 0 0 0 BLAKE REIS JOURNEYMAN/LINEMAN 166895 0 500 0 165 0 12134 0 23548 0 203242 0 0 0 JUSTIN BANALES VP SYSTEM OPERATIONS 134893 0 500 0 5086 0 28572 0 29895 0 198946 0 0 0 CHARLES GOURDIN VP UTILITY SERVICES 137456 0 500 0 1211 0 34634 0 20153 0 193954 0 0 0 DIEGO MARTINEZ JOURNEYMAN/LINEMAN 151813 0 500 0 286 0 14276 0 26882 0 193757 0 0 0 AMOS GARCIA JOURNEYMAN/LINEMAN 148458 0 500 0 186 0 12193 0 27882 0 189219 0 0 0 APRIL PARK VP HUMAN RESOURCES AND SAFETY 139233 0 500 0 293 0 22416 0 18265 0 180707 0 0 0 LAREE ST ONGE VP MEMBER SERVICES/ENERGY SOLUTIONS 135505 0 500 0 913 0 23938 0 19693 0 180549 0 0 0 PART I, LINE 4A DURING THE YEAR, CHRIS NEELY RECEIVED A SEVERANCE PAYMENT IN THE AMOUNT OF $50,672. PART II, COLUMN C: INCLUDED IN THIS AMOUNT IS THE INCREASE IN ACTUARIAL VALUE OF BENEFITS PAYABLE UNDER A DEFINED BENEFIT RETIREMENT PLAN. THE CONTRIBUTION RATE FOR PARTICIPANTS IN THE NRECA R&S DEFINED BENEFIT PENSION PLAN ARE THE SAME FOR ALL INDIVIDUALS IN THIS MULTI-EMPLOYER PLAN. THE CHANGE IN ACTUARIAL VALUE FOR EACH PARTICIPANT, HOWEVER, VARIES WITH AGE. IN OTHER WORDS, THE OLDER A PLAN PARTICIPANT IS, THE GREATER THE INCREASE IN THAT INDIVIDUAL'S CHANGE IN ACTUARIAL VALUE, ALL OTHER THINGS BEING EQUAL. BECAUSE THIS RELATES TO A MULTI-EMPLOYER PLAN, CASH CONTRIBUTION TO THE PLAN IN LIEU OF THE ACTUARIAL INCREASE ARE EXPENSED IN THE FINANCIAL STATEMENTS. BRIAN HEITHOFF: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 64,222 EMPLOYER CONTRIBUTION TO 401(K) PLAN 13,800 TOTAL REPORTED IN COLUMN C $ 78,022 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (64,222) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 76,960 EXPENSE TO COOPERATIVE $ 90,760 ERIC HAWKINS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 19,963 EMPLOYER CONTRIBUTION TO 401(K) PLAN 10,912 TOTAL REPORTED IN COLUMN C $ 30,875 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (19,963) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 50,762 EXPENSE TO COOPERATIVE $ 61,674 TOREY BELL: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 78,286 EMPLOYER CONTRIBUTION TO 401(K) PLAN 7,405 TOTAL REPORTED IN COLUMN C $ 85,691 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (78,286) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 37,480 EXPENSE TO COOPERATIVE $ 44,885 JAMES FREEMAN: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 48,845 EMPLOYER CONTRIBUTION TO 401(K) PLAN 8,485 TOTAL REPORTED IN COLUMN C $ 57,330 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (48,845) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 42,334 EXPENSE TO COOPERATIVE $ 50,819 CHRIS NEELY: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 31,379 EMPLOYER CONTRIBUTION TO 401(K) PLAN 5,877 TOTAL REPORTED IN COLUMN C $ 37,256 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (31,379) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 25,526 EXPENSE TO COOPERATIVE $ 31,403 JEREMY KONSKI: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 9,128 EMPLOYER CONTRIBUTION TO 401(K) PLAN 4,992 TOTAL REPORTED IN COLUMN C $ 14,120 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (9,128) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 22,195 EXPENSE TO COOPERATIVE $ 27,187 MATTHEW FREDERICKSON: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 21,283 EMPLOYER CONTRIBUTION TO 401(K) PLAN 6,207 TOTAL REPORTED IN COLUMN C $ 27,490 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (21,283) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 33,514 EXPENSE TO COOPERATIVE $ 39,721 BRIAN JACKSON: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 21,497 EMPLOYER CONTRIBUTION TO 401(K) PLAN 5,217 TOTAL REPORTED IN COLUMN C $ 26,714 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (21,497) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 22,691 EXPENSE TO COOPERATIVE $ 27,908 BLAKE REIS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 7,432 EMPLOYER CONTRIBUTION TO 401(K) PLAN 4,702 TOTAL REPORTED IN COLUMN C $ 12,134 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (7,432) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 20,450 EXPENSE TO COOPERATIVE $ 25,152 JUSTIN BANALES: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 22,722 EMPLOYER CONTRIBUTION TO 401(K) PLAN 5,850 TOTAL REPORTED IN COLUMN C $ 28,572 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (22,722) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 30,720 EXPENSE TO COOPERATIVE $ 36,570 CHARLES GOURDIN: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 28,922 EMPLOYER CONTRIBUTION TO 401(K) PLAN 5,712 TOTAL REPORTED IN COLUMN C $ 34,634 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (28,922) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 29,924 EXPENSE TO COOPERATIVE $ 35,636 DIEGO MARTINEZ: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 9,532 EMPLOYER CONTRIBUTION TO 401(K) PLAN 4,744 TOTAL REPORTED IN COLUMN C $ 14,276 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (9,532) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 20,450 EXPENSE TO COOPERATIVE $ 25,194 AMOS GARCIA: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 7,463 EMPLOYER CONTRIBUTION TO 401(K) PLAN 4,730 TOTAL REPORTED IN COLUMN C $ 12,193 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (7,463) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 20,549 EXPENSE TO COOPERATIVE $ 25,279 ARIL PARK: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 16,687 EMPLOYER CONTRIBUTION TO 401(K) PLAN 5,729 TOTAL REPORTED IN COLUMN C $ 22,416 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (16,687) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 29,574 EXPENSE TO COOPERATIVE $ 35,303 LAREE ST. ONGE: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 18,334 EMPLOYER CONTRIBUTION TO 401(K) PLAN 5,604 TOTAL REPORTED IN COLUMN C $ 23,938 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (18,334) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 30,249 EXPENSE TO COOPERATIVE $ 35,853 FORM 990, PART I, LINE 19: IN GENERAL, WHEN AN ELECTRIC COOPERATIVE BASES THE PATRONAGE DIVIDEND CALCULATION ON ITS NET BOOK INCOME/(LOSS), PAGE 1, PART I, LINE 19 - REVENUE LESS EXPENSES - WILL BE $0. FOR THE CURRENT YEAR, PAGE 1, PART I, LINE 19 REPORTS NET INCOME OF $1,312,901, WHICH IS THE INCOME STATEMENT EFFECT OF ACCRUED UNBILLED REVENUE, EQUITY METHOD INCOME, AND THE RETENTION OF NON-OPERATING INCOME. THE GAAP BASIS FINANCIAL STATEMENTS INCLUDE AN ACCRUAL FOR UNBILLED REVENUE BECAUSE THE COOPERATIVE'S BILLING CYCLE DOES NOT END ON THE LAST DAY OF THE MONTH. THEREFORE, IT HAS REVENUE IN DECEMBER OF EACH YEAR THAT IT HAS EARNED BUT WILL NOT BILL UNTIL THE FIRST BILLING CYCLE OF THE FOLLOWING YEAR. THE COOPERATIVE ESTIMATES THIS REVENUE AND RECORDS IT AS ACCRUED UNBILLED REVENUE IN ORDER TO MATCH THE REVENUE WITH THE YEAR EARNED. HOWEVER, THE COOPERATIVE ALLOCATES THE REVENUE TO MEMBERS IN THE YEAR IT IS BILLED RATHER THAN WHEN ACCRUED. THIS TIMING DIFFERENCE IS FAIR AND EQUITABLE BECAUSE IT MATCHES THE PATRONAGE DIVIDEND ALLOCATED WITH THE BILLING RECORDS USED TO ALLOCATE THE MARGINS. EQUITY METHOD INCOME IS RECORDED ON THE COOPERATIVE'S BOOKS AND INCLUDED IN NET MARGINS. U.S. GAAP REQUIRES THE COOPERATIVE TO RECORD ON ITS BOOKS EQUITY METHOD INCOME FROM ITS WHOLLY OWNED SUBSIDIARY. EQUITY METHOD INCOME IS NOT INCOME FOR IRS FORM 990 PURPOSES AND AS SUCH HAS BEEN REPORTED AS AN OTHER CHANGE IN NET ASSETS. THE FOLLOWING SCHEDULE IS PROVIDED TO FURTHER EXPLAIN THE IMPACT OF THIS TRANSACTION: ADD: UNBILLED REVENUE 12/31/24 $ 1,614,000 LESS: UNBILLED REVENUE 12/31/23 (1,639,000) (A) - NET DECREASE IN UNBILLED REVENUE $ (25,000) (B) - ADD: EQUITY METHOD LOSS FROM SUBSIDIARY $ 1,005,841 (C) - ADD: RETENTION OF NON-OPERATING INCOME $ 332,060 NET INCOME ON PAGE 1, PART I, LINE 19 (A + B + C) $ 1,312,901 FORM 990, PART VI, SECTION A, LINE 6 THE COOPERATIVE WAS FORMED BY THE MEMBERS TO PROVIDE ELECTRIC SERVICE AT COST ON A COOPERATIVE BASIS. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERS OF THE COOPERATIVE VOTE ON THE BOARD OF DIRECTORS. ELECTIONS ARE DONE ON A ONE MEMBER ONE VOTE BASIS. FORM 990, PART VI, SECTION A, LINE 7B THE FOLLOWING ACTS REQUIRE APPROVAL OF THE MEMBERS OF THE COOPERATIVE: 1. DISSOLUTION/LIQUIDATION OF THE COOPERATIVE 2. MERGER OR CONSOLIDATION OF THE COOPERATIVE WITH ANOTHER ORGANIZATION 3. DISPOSAL OF A SUBSTANTIAL PORTION OF THE COOPERATIVE'S ASSETS 4. AMENDMENT TO THE ARTICLES OF INCORPORATION 5. AMENDMENT TO THE BYLAWS FORM 990, PART VI, SECTION A, LINE 8B THE COOPERATIVE HAS NO COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. THEREFORE, AND PURSUANT TO FORM 990 INSTRUCTIONS, THE QUESTION HAS BEEN ANSWERED "NO". FORM 990, PART VI, SECTION B, LINE 11B MANAGEMENT PRESENTED A COPY OF THE FORM 990 TO THE BOARD FOR DISCUSSION AND REVIEW PRIOR TO FILING. THE DISCUSSION AND REVIEW WAS PERFORMED AT THE BOARD MEETING IMMEDIATELY BEFORE FILING THE FORM 990. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY IS REVIEWED AND UPDATED, AS NEEDED, BASED ON A SCHEDULE OF POLICY REVIEW OF UP TO 3 PER MONTH AT THE MONTHLY REGULAR BOARD MEETING, AND ANY TIME THAT A POTENTIAL OR ACTUAL CONFLICT OF INTEREST COMES TO THE ATTENTION OF ANY BOARD MEMBER OR THE CEO/GENERAL MANAGER. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF DIRECTORS USE THE FORM 990 FROM OTHER COOPERATIVES WITHIN THE STATE WHEN DETERMINING THE COMPENSATION OF THE CEO/GENERAL MANAGER. THE CEO/GENERAL MANAGER UTILIZES INTERNAL RESOURCES WHEN DETERMINING THE COMPENSATION OF THE COOPERATIVE'S OTHER EMPLOYEES MEETING THE DEFINITION OF OFFICER AND KEY EMPLOYEES, IF ANY. FORM 990, PART VI, SECTION C, LINE 19 THE COOPERATIVE WILL PROVIDE A COMPLETE COPY OF ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND AUDITED FINANCIAL STATEMENTS TO ANY MEMBER BY APPOINTMENT AT THE COOPERATIVE'S OFFICE. ANNUALLY THE COOPERATIVE PROVIDES A CONDENSED SUMMARY OF THE BALANCE SHEET AND INCOME STATEMENT TO THE MEMBERS OF THE COOPERATIVE WITH THE ANNUAL REPORT. ADDITIONALLY THE BYLAWS OF THE COOPERATIVE ARE MADE AVAILABLE VIA ITS WEBSITE. FORM 990, PART VII, COLUMN F: IN ORDER TO PROVIDE RETIREMENT BENEFITS TO ITS KEY EMPLOYEES, THE COOPERATIVE HAS ESTABLISHED A DEFINED CONTRIBUTION PLAN UNDER SECTION 401(K) OF THE INTERNAL REVENUE CODE. EMPLOYER CONTRIBUTIONS TO THE PLAN ARE MADE PURSUANT TO THE PLAN DOCUMENT. ADDITIONALLY, THE COOPERATIVE PARTICIPATES IN A MULTI-EMPLOYER DEFINED BENEFIT PLAN. CONTRIBUTIONS TO THIS PLAN ARE BASED ON THE FULL FUNDING LIMITATION OF SUCH PLAN. EMPLOYER CONTRIBUTIONS FOR BOTH PLANS ARE AVAILABLE TO ALL PARTICIPATING EMPLOYEES, INCLUDING OFFICERS, KEY EMPLOYEES, AND HIGHLY COMPENSATED EMPLOYEES, MEETING THE ELIGIBILITY REQUIREMENTS OF SUCH PLANS. THE COOPERATIVE ALSO PROVIDES HEALTH INSURANCE TO ELIGIBLE KEY EMPLOYEES THROUGH A QUALIFIED PLAN. THE AMOUNTS REPORTED ON PART VII, COLUMN (F) FOR EMPLOYEE OFFICERS, KEY EMPLOYEES, AND HIGHLY COMPENSATED EMPLOYEES IS COMPRISED OF ACTUARIAL INCREASE IN THE DEFINED BENEFIT PLAN, THE TOTAL AMOUNT CONTRIBUTED BY THE COOPERATIVE TO THE DEFINED CONTRIBUTION PLAN AND INSURANCE PAID ON BEHALF OF AND FOR THEIR BENEFIT. FORM 990, PART VIII, LINE 2B: PATRONAGE DIVIDENDS RESULT FROM THE PURCHASE OF WHOLESALE POWER FROM A GENERATION & TRANSMISSION COOPERATIVE. PATRONAGE DIVIDENDS ALSO RESULT FROM THE PAYMENT OF INTEREST FROM COOPERATIVE BANKS AND THE PURCHASE OF SUPPLIES AND SERVICES FROM OTHER COOPERATIVE ORGANIZATIONS. THE EXPENSES ASSOCIATED WITH PURCHASES FROM AND PAYMENTS TO SUCH COOPERATIVE ORGANIZATIONS ARE A DIRECT COMPONENT OF COST OF THE ELECTRIC SERVICE PROVIDED BY THE COOPERATIVE TO ITS MEMBERS. FORM 990, PART IX: THE ACCOUNTING RECORDS OF THE COOPERATIVE ARE MAINTAINED IN ACCORDANCE WITH THE UNIFORM SYSTEM OF ACCOUNTS (USOA) AS PRESCRIBED BY THE FEDERAL ENERGY REGULATORY COMMISSION FOR CLASS A AND B ELECTRIC UTILITIES MODIFIED FOR ELECTRIC BORROWERS OF THE RURAL UTILITIES SERVICE. THE USOA DOES NOT RECORD EXPENSES IN THE GENERAL EXPENSE CATEGORIES PROVIDED ON PART IX LINES 1-23. THE COOPERATIVE SEPARATELY REPORTS SALARIES AND WAGES, EMPLOYEE BENEFITS AND PAYROLL TAXES THAT ARE ALLOCATED IN ACCORDANCE WITH THEIR ACCOUNTING SYSTEM, BUT OTHER EXPENSES THAT ARE DESCRIBED IN LINES 1-23 ARE REPORTED ON LINE 24 UNDER THE EXPENSE CATEGORIES REQUIRED BY THE USOA. FORM 990, PART IX, LINES 5-7: SALARIES AND WAGES ARE ALLOCATED TO ASSET, LIABILITY, AND EXPENSE ACCOUNTS BASED ON THE ACCOUNTING SYSTEM DESCRIBED ABOVE. THE FOLLOWING SCHEDULE RECONCILES AMOUNTS REPORTED ON LINES 5-7 TO TOTAL WAGES ACCRUED AND/OR PAID: TOTAL PER LINES 5-7 $ 11,289,376 LESS: DIRECTOR FEES REPORTED ON FORMS 1099-NEC (153,449) LESS: EMPLOYEE OFFICER AND KEY EMPLOYEE BENEFITS INCLUDED IN LINE 5 (650,705) PLUS: SALARIES AND WAGES ALLOCATED TO NONOPERATING MARGINS 4,841 PLUS: SALARIES AND WAGES CAPITALIZED DIRECTLY TO PLANT 3,043,202 PLUS: SALARIES AND WAGES CAPITALIZED/EXPENSED INDIRECTLY THROUGH CLEARING & OTHER ACCOUNTS 1,588,584 TOTAL WAGES ACCRUED AND OR PAID $15,121,849 FORM 990, PART IX, LINE 24: ADMINISTRATIVE AND GENERAL EXPENSE IS COMPRISED OF THE FOLLOWING: ADMINISTRATIVE & GENERAL SALARIES, BENEFITS, & OTHER $ 3,579,511 OFFICE SUPPLIES 1,349,026 OUTSIDE SERVICES 552,378 INJURIES & DAMAGES 471,750 EMPLOYEE PENSIONS & BENEFITS 54,389 ANNUAL MEETING 74,823 MISCELLANEOUS GENERAL 1,445,633 REGULATORY COMMISSION 267,141 MAINTENANCE OF GENERAL PLANT 1,964,045 TOTAL ADMIN & GENERAL EXP PER FINANCIAL STATEMENTS $ 9,758,696 LESS: RECLASS OF DIRECTOR FEES TO PART IX, LINE 5 (153,449) LESS: RECLASS OF LABOR TO PART IX, LINES 5 & 7 (3,455,276) LESS: RECLASS OF BENEFITS TO PART IX, LINES 8-10 (1,652,254) TOTAL ADMIN & GENERAL EXPENSE PER FORM 990, PART IX $ 4,497,717 FORM 990, PART IX, LINE 4: PURSUANT TO THE FORM 990 INSTRUCTIONS, THE AMOUNT OF PATRONAGE DIVIDENDS PAID TO THE MEMBERS (HEREINAFTER REFERRED TO AS "PATRONS") SHOULD BE REPORTED ON PART IX, LINE 4. THE PHRASE "PATRONAGE DIVIDENDS PAID" REFERS TO THE PROCESS, SUBSEQUENT TO YEAR-END, BY WHICH THE COOPERATIVE ALLOCATES PATRONAGE CAPITAL TO AND, THEREFORE, OPERATES AT COST WITH ITS PATRONS. THE COOPERATIVE'S TAX EXEMPT PURPOSE IS TO PROVIDE ELECTRICITY TO ITS PATRONS AND TO DO SO ON A COOPERATIVE BASIS. TAX LAW DEFINES "OPERATING ON A COOPERATIVE BASIS" AS SUBORDINATION OF CAPITAL, DEMOCRATIC CONTROL, AND OPERATION AT COST. THE COOPERATIVE OPERATES AT COST THROUGH THE ALLOCATION OF TRUE PATRONAGE DIVIDENDS (ALSO REFERRED TO AS ALLOCATIONS OF PATRONAGE CAPITAL) TO ITS PATRONS. PATRONAGE DIVIDENDS ARE CONSIDERED PAID IF THE ALLOCATION IS MADE (1) PURSUANT TO A PRE-EXISTING OBLIGATION, (2) FROM THE MARGINS PRODUCED FROM THE TRANSACTIONS DONE WITH OR FOR PATRONS, AND (3) IN A FAIR AND EQUITABLE MANNER ON THE BASIS OF PATRONAGE (I.E. PURCHASES). ADDITIONALLY, THE ALLOCATION OF PATRONAGE DIVIDENDS SHOULD BE MADE WITHIN A REASONABLE TIME PERIOD AFTER THE CLOSE OF THE COOPERATIVE'S YEAR-END OF DECEMBER 31. EACH ONE OF THESE REQUIREMENTS FOR A TRUE PATRONAGE DIVIDEND IS PROVIDED FOR IN THE NON-PROFIT OPERATION ARTICLE OF THE COOPERATIVE'S BYLAWS. THE AMOUNT REPORTED ON PART IX, LINE 4 REPRESENTS THE AMOUNT OF PATRONAGE CAPITAL THAT IS EITHER ALLOCATED OR TO BE ALLOCATED TO THE PATRONS RESULTING FROM THEIR PURCHASE OF ELECTRICITY FROM THE COOPERATIVE FOR THE 2024 CALENDAR YEAR. BECAUSE PATRONAGE DIVIDENDS ARE THE PROCESS BY WHICH THE COOPERATIVE OPERATES AT COST WITH ITS PATRONS AND THEREBY A KEY COMPONENT TO ACCOMPLISHING ITS EXEMPT PURPOSE, THE COOPERATIVE HAS REPORTED SUCH AMOUNTS AS AN EXPENSE FOR FORM 990 REPORTING. PATRONAGE DIVIDENDS ARE NOT AN EXPENSE FOR FINANCIAL STATEMENTS PREPARED IN ACCORDANCE WITH GENERALLY ACCEPTED ACCOUNTING PRINCIPLES, HOWEVER. FORM 990, PART IX, LINE 24E: ALL OTHER EXPENSES ARE COMPRISED OF THE FOLLOWING: OTHER DEDUCTIONS $ 400,501 TRANSMISSION 195,893 TAXES 1,514 TOTAL ALL OTHER EXPENSES PER FORM 990, LINE 24E $ 597,908 FORM 990, PART XI, LINE 9: PATRONAGE CAPITAL ALLOCATED OR TO BE ALLOCATED 6,274,700. PATRONAGE CAPITAL RETIRED - TOTAL -4,598,664. PATRONAGE CAPITAL RETIRED - DISCOUNT 56,827. EQUITY METHOD INCOME(LOSS) FROM SUBSIDIARY -1,005,841. FORM 990, PART XII, LINE 2C: THE BOARD AS A WHOLE IS RESPONSIBLE FOR REVIEWING, OVERSEEING THE FINANCIAL STATEMENT AUDIT AND SELECTING THE INDEPENDENT FINANCIAL STATEMENT AUDITOR. TRICO FOUNDATION PO BOX 930 MARANA AZ 85653 942941045 TO PROVIDE COLLEGE SCHOLARSHIPS TO MEMEBERS OF THE COOPERATIVE. AZ 501(C)3 PF TRICO ELECTRIC COOPERATIVE 1 TRICO ELECTRIC CHARITABLE TRUST PO BOX 930 MARANA AZ 85653 860794164 TO PROVIDE CHARITABLE GRANTS TO RESIDENTS OF THE COOPERATIVE'S SERVICE AREA. AZ 501(C)3 LINE 7 TRICO ELECTRIC COOPERATIVE 1 AVION SOLAR LLC PO BOX 930 MARANA AZ 85653 832453793 SOLAR ENERGY AZ TRICO ELECTRIC COOPERATIVE INC C 3537726 20863711 1.00000 1 CHIRREON ENERGY LLC PO BOX 930 MARANA AZ 85653 843857627 SOLAR ENERGY AZ TRICO ELECTRIC COOPERATIVE INC C 2733095 25299409 1.00000 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 1 1 0 AVION SOLAR LLC N N/A - LESS THAN $50,000 CHIRREON ENERGY LLC N N/A - LESS THAN $50,000 AVION SOLAR LLC O N/A - LESS THAN $50,000 CHIRREON ENERGY LLC O N/A - LESS THAN $50,000 TRICO FOUNDATION O N/A - LESS THAN $50,000 TRICO ELECTRIC CHARITABLE TRUST O N/A - LESS THAN $50,000 TRICO FOUNDATION Q N/A - LESS THAN $50,000 TRICO ELECTRIC CHARITABLE TRUST Q N/A - LESS THAN $50,000 AVION SOLAR LLC Q N/A - LESS THAN $50,000 AVION SOLAR LLC R 3537727 PURCHASED POWER CHIRREON ENERGY LLC R 2733095 PURCHASED POWER