2025-11-14T11:50:21-06:00 2024-12-31 390859910 BAKER TILLY ADVISORY GROUP LP 601 W RIVERSIDE AVENUE STE 1800 SPOKANE WA 99201 990 2024-01-01 750619960 TRI-COUNTY ELECTRIC COOPERATIVE INC TRI- 8174443201 600 NORTHWEST PKWY AZLE TX 760202916 SCOTT SPENCE PRESIDENT & CHIEF EXECUTIVE OFFICER 8174443201 2025-11-13 1 1 EMINA O CRESSWELL P01217304 5097472600 2025-11-13 2024 2025-03-06 01:10:19Z X SCOTT SPENCE 600 NORTHWEST PKWY AZLE TX 760202916 415462126 0 X WWW.TCECTEXAS.COM X 1939 TX TO PROVIDE QUALITY AND RELIABLE ELECTRIC SERVICE TO MEMBERS OF THE COOPERATIVE. 9 9 345 0 38717 34217 0 0 447490720 401146212 924051 801956 5591761 13415825 454006532 415363993 41873 7303 14098246 23700345 2966956 3176524 0 0 0 437148065 388479821 454255140 415363993 -248608 0 1454349365 1521595570 1014877964 1056182836 439471401 465412734 OUR MISSION IS TO PROVIDE SAFE AND RELIABLE POWER AT THE LOWEST POSSIBLE COST 0 0 TO PROVIDE TO OUR MEMBERS - 140,694 ACTIVE SERVICES AT YEAR-END WERE PROVIDED ELECTRICITY ON A COOPERATIVE BASIS AND WERE ALLOCATED PATRONAGE CAPITAL. 0 0 0 0 0 0 0 0 0 1 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 1 92 0 1 345 1 1 1 0 0 0 0 410220421 10560980 0 0 0 X 9 9 0 0 1 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X X DUSTIN TIDBALL 8174443201 600 NORTHWEST PKWY AZLE TX 760202916 STEVE HARRIS DIRECTOR 6.00 X 42520 0 0 KEVIN INGLE DIRECTOR 5.50 X 40720 0 0 JOHN KILLOUGH VICE CHAIR (THRU 11/24) 5.40 X X 43120 0 0 MARGARET KOPREK TREASURER & SECRETARY (THRU 11/24), DIRECTOR 19.80 X X 43720 0 0 SOMMER PORTWOOD TREASURER & SECRETARY 6.80 X X 41320 0 0 MICHAEL SIVERTSEN DIRECTOR (THRU 11/24) 17.80 X 34232 0 0 MAX WADDELL CHAIR (THRU 11/24), DIRECTOR 5.20 X X 43120 0 0 DAVID MILLER CHAIR 6.30 X X 41720 0 0 TIMMY YEARY VICE CHAIR 3.10 X X 0 0 0 DAVID MANNING DIRECTOR 4.90 X 0 0 0 JARRETT ARMSTRONG DIRECTOR 4.50 X 4294 0 0 SCOTT SPENCE PRESIDENT & CEO 61.00 X 493771 0 60771 DUSTIN TIDBALL CFO & VP, FINANCE 50.00 X 222588 0 44293 ANDREA MCCLEESE SENIOR VP, ENGAGEMENT & SOLUTIONS 57.00 X 247389 0 105119 BRAD NOACK VP, OPERATIONS 50.00 X 192714 0 46066 MELONY BLOCK VP, HUMAN RESOURCES & SAFETY 52.00 X 213863 0 41848 TOMMY HIGGINBOTHAM VP, INFORMATION TECHNOLOGY 50.00 X 129256 0 20482 WESLEY SCHEETS COO & VP OF OPERATIONS 40.00 X 303219 0 233999 JANET REHBERG CSO & VP OF ENGINEERING (THRU 8/24) 40.00 X 215288 0 42933 MELISSA WATTS CFO & VP OF FINANCE (THRU 6/24) 40.00 X 300087 0 89385 LINDSEY GILLUM CRO & VP OF POWER SUPPLY (THRU 1/24) 40.00 X 32033 0 4187 KEVIN HELTON LINE SUPERINTENDENT 45.00 X 235552 0 64611 JOEL PENCE LINE SUPERINTENDENT 45.00 X 226122 0 92740 CARL HERRIDGE LINE SUPERINTENDENT 45.00 X 217238 0 85478 DEREK BISSETTE RIGHT OF WAY MANAGER 45.00 X 216851 0 41103 JONATHAN DOUGLASS DIRECTOR OF IT & CYBERSECURITY 45.00 X 215282 0 52990 JENNIFER GOSS FORMER CTO & VP OF TECHNOLOGY 40.00 X 165000 0 0 3961019 0 1026005 128 1 1 0 REVOLUTION POWER LLC 2471 ROLAND RD WHITESBORO TX 76273 CONSTRUCTION 8203481 BURNS & MCDONNELL ENGINEERING COMPANY IN 9400 WARD PARKWAY KANSAS CITY MO 64114 CONSTRUCTION/ENGINEERING 6945166 PRIMORIS T&D SERVICES LLC 1760 S STEMMONS FRWY 300 LEWISVILLE TX 75067 CONSTRUCTION 6060708 PARISH UTILITIES LLC 3001 COX RD MILLSAP TX 76066 CONSTRUCTION 5346079 TEXAS STATE UTILITIES INC 3112 WICHITA COURT FORT WORTH TX 76140 CONSTRUCTION 4007053 17 ELECTRICITY SALES 221000 399011045 399011045 SERVICE FEE 221000 1238231 1238231 POLE RENTAL INCOME 221000 896936 896936 401146212 136786 136786 79845 2109 77736 77736 38717 39019 761194 96024 665170 665170 665170 PATRONAGE DIVIDENDS 221000 12226281 12226281 DEFERRED CREDITS INCOME 900099 4949596 4949596 MISCELLANEOUS REVENUE 900099 191790 191790 -4029578 -4029578 13338089 415363993 413587365 38717 1737911 7303 23700345 3176524 42583511 25099790 PURCHASED POWER 268226894 TAX EXPENSE 43394 DISTRIBUTION EXPENSE 26797493 GENERAL & ADMINISTRATIO 15102187 10626552 415363993 3460547 2089167 2600 2600 23835895 24364188 2235 0 1481964 974760 1036681835 214738362 741403530 821943473 172115381 175742436 512047213 496478946 1454349365 1521595570 41726057 40296753 879744116 898148508 93407791 117737575 1014877964 1056182836 X 2689298 2787933 0 0 436782103 462624801 439471401 465412734 1454349365 1521595570 X 0 25941333 X 0 0 0 42333312 42333312 24061742 6891879 17169863 855387871 207846483 647541388 114898910 114898910 821943473 PATRONAGE CAPITAL - BRAZOS 139861921 C MEMBER CAPITAL SECURITIES - CFC 10000000 C PATRONAGE CAPITAL - TEC 11025306 C CAPITAL TERM CERTIFICATES - CFC 6443423 C PATRONAGE CAPITAL - CFC 7209347 C INVESTMENT IN SUBSIDIARY 69464 C PATRONAGE CAPITAL - SEDC 198364 C PATRONAGE CAPITAL - FEDERATED RURAL 132831 C PATRONAGE CAPITAL - COBANK 774689 C PATRONAGE CAPITAL - CRC 14853 C PATRONAGE CAPITAL - NRTC 10296 C MEMBERSHIPS- NRUCFC 1000 C PATRONAGE CAPITAL - NISC 592 C MEMBERSHIPS - OTHER 300 C MEMBERSHIPS - TCE 50 C 175742436 REGULATORY ASSETS 469812954 OTHER ASSETS 2065441 ACCRUED UTILITY REVENUE 19439065 UNAMORTIZED DEBT EXPENSES & CLOSING FEES 5161486 496478946 UNBILLED POWER COST 98619652 PENSION AND BENEFIT PLAN PAYABLE 9196676 DEFERRED CREDITS - CONSTRUCTION 2713527 CONSUMER DEPOSITS 7207720 117737575 X X X 1 1 0 SCOTT SPENCE PRESIDENT & CEO 493771 0 0 0 0 0 48363 0 12408 0 554542 0 0 0 WESLEY SCHEETS COO & VP OF OPERATIONS 303219 0 0 0 0 0 217980 0 16019 0 537218 0 0 0 MELISSA WATTS CFO & VP OF FINANCE (THRU 6/24) 148361 0 0 0 151726 0 78010 0 11375 0 389472 0 0 0 ANDREA MCCLEESE SENIOR VP, ENGAGEMENT & SOLUTIONS 247389 0 0 0 0 0 96905 0 8214 0 352508 0 0 0 JOEL PENCE LINE SUPERINTENDENT 211693 0 14429 0 0 0 66461 0 26279 0 318862 0 0 0 CARL HERRIDGE LINE SUPERINTENDENT 202809 0 14429 0 0 0 69459 0 16019 0 302716 0 0 0 KEVIN HELTON LINE SUPERINTENDENT 221533 0 14019 0 0 0 38332 0 26279 0 300163 0 0 0 JONATHAN DOUGLASS DIRECTOR OF IT & CYBERSECURITY 199481 0 15801 0 0 0 26711 0 26279 0 268272 0 0 0 DUSTIN TIDBALL CFO & VP, FINANCE 222588 0 0 0 0 0 21544 0 22749 0 266881 0 0 0 JANET REHBERG CSO & VP OF ENGINEERING (THRU 8/24) 215288 0 0 0 0 0 32254 0 10679 0 258221 0 0 0 DEREK BISSETTE RIGHT OF WAY MANAGER 201013 0 15838 0 0 0 14824 0 26279 0 257954 0 0 0 MELONY BLOCK VP, HUMAN RESOURCES & SAFETY 213863 0 0 0 0 0 33634 0 8214 0 255711 0 0 0 BRAD NOACK VP, OPERATIONS 192714 0 0 0 0 0 19787 0 26279 0 238780 0 0 0 JENNIFER GOSS FORMER CTO & VP OF TECHNOLOGY 0 0 0 0 165000 0 0 0 0 0 165000 0 0 0 PART I, LINES 4A-B SEVERANCE PAYMENTS TOTALING $165,000 AND $151,726 WERE MADE TO JENNIFER GROSS AND MELISSA WATTS RESPECTIVELY DURING THE CALENDAR YEAR AND ARE INCLUDED IN PART II, COLUMN B(III). MORE INFORMATION IS AVAILABLE UPON REQUEST. WESLEY SCHEETS IS A PARTICIPANT IN A 457(F) PLAN. THE COOPERATIVE WILL DEPOSIT $25,000 FOR EACH MEMBER INTO THE PLAN EACH YEAR BEGINNING IN 2021. THIS AMOUNT WILL BE DEPOSITED EACH YEAR THROUGH 2026. AS LONG AS THE INDIVIDUAL REMAINS EMPLOYED AS A SENIOR STAFF MEMBER THROUGH MAY 31, 2026, THEY WILL BE PAID A LUMP SUM PAYMENT FOR THE FULL AMOUNT. IF THE EMPLOYEE IS NO LONGER A SENIOR STAFF MEMBER THROUGH MAY 31, 2026, THE ENTIRE AMOUNT WILL BE FORFEITED BACK TO THE COOPERATIVE. FORM 990, PART VI, SECTION A, LINE 4 ON JANUARY 1, 2024, THE COOPERATIVE APPROVED THE FOLLOWING BYLAW AMENDMENTS: SECTION 3.8 (D) - DIRECTOR ELECTIONS FOR TIE VOTES - IN ANY ELECTION OR SITUATION IN WHICH A TIE VOTE OCCURS, WHETHER TO DETERMINE THE WINNER IN A TWO-CANDIDATE ELECTION OR TO DETERMINE THE RUNOFF CANDIDATES IN A MULTIPLE-CANDIDATE ELECTION, ALL TIE VOTES SHALL BE BROKEN FIRST BY DETERMINING WHICH CANDIDATE RECEIVED THE MOST VOTES IN THE INDIVIDUAL DIRECTOR DISTRICT IN WHICH THE ELECTION IS HELD. IF THE ELECTION STILL REMAINS TIED, THE TIE-BREAK SHALL BE BY LOT. SECTION 4.10 (A) - DIRECTOR COMPENSATION - DIRECTORS AS SUCH SHALL RECEIVE NO SALARY FOR THEIR SERVICE. HOWEVER, BY RESOLUTION OF THE BOARD OF DIRECTORS EACH DIRECTOR SHALL BE COMPENSATED AS NON-EMPLOYEES AT SUCH LEVELS APPROVED BY THE BOARD, FOR BOARD MEETINGS AND AUTHORIZED ATTENDED EVENTS PLUS REASONABLE EXPENSES OF ATTENDANCE. NO DIRECTOR SHALL RECEIVE COMPENSATION FOR SERVING THE COOPERATIVE IN ANY OTHER CAPACITY. SECTION 4.8 (A) DIRECTOR REMOVAL - DIRECTOR REMOVAL BY MEMBERSHIP PETITION. 1. FOR A DIRECTOR FOR WHOM REMOVAL IS REQUESTED, THE MEMBERS MUST FIRST NOTIFY THE BOARD CHAIRMAN OR BOARD SECRETARY THE BEGINNING DATE OF THE PETITION DRIVE; 2. THEN, WITHIN SIXTY (60) DAYS, DELIVER TO THE BOARD CHAIRMAN OR BOARD SECRETARY A DATED WRITTEN PETITION; 3. IDENTIFYING ON EACH PAGE THE INDIVIDUAL DIRECTOR TO BE REMOVED; 4. EXPLAINING ON EACH PAGE, THE BASIS FOR THE DIRECTOR'S REMOVAL AND, 5. CONTAINING THE PRINTED NAMES, PRINTED ADDRESSES, AND ORIGINAL AND DATED SIGNATURES; ALL OF WHICH ARE OBTAINED WITHIN THE SIXTY (60) DAYS. 6. THE NUMBER OF MEMBER SIGNATURES TO BE OBTAINED MUST BE AT LEAST FIVE PERCENT (5%) OF THE CURRENT MEMBERSHIP; OF WHICH AT LEAST HALF, OR 1500, WHICHEVER IS GREATER, MUST BE FROM MEMBERS RESIDING WITHIN THE DISTRICT WHICH IS SUBJECT TO THE REMOVAL. 7. THE PROVISIONS OF SECTION 1.5 OF THESE BYLAWS APPLY WITH REGARD TO MULTIPLE INDIVIDUALS WHO MAY HAVE AUTHORITY UNDER A SINGLE OR JOINT MEMBERSHIP TO VOTE OR SIGN FOR THE MEMBERSHIP: ONLY ONE VOTE, OR ONE SIGNATURE PER MEMBER IS PERMITTED. SECTION 4.8 (E) DIRECTOR REMOVAL - DIRECTOR REMOVAL OR DISCIPLINE BY BOARD. 1. UPON THE ESTABLISHMENT OF THE FACT THAT A BOARD MEMBER IS HOLDING THE OFFICE IN VIOLATION OF ANY OF THE PROVISIONS OF THESE BYLAWS, THE BOARD MAY DISCIPLINE OR REMOVE SUCH BOARD MEMBER FROM OFFICE. 2. DISCIPLINE FOR SUCH VIOLATIONS MAY INCLUDE, BUT ARE NOT LIMITED TO, REPRIMAND, CENSURE, OR REMOVAL, DEPENDING ON THE SEVERITY OF THE VIOLATION; AND MAY ALSO INCLUDE LIMITING A DIRECTOR'S COMPENSATION, TRAVEL OR OTHER DIRECTORS BENEFITS. 3. ANY BOARD ACTION UNDER THIS SECTION MUST BE BY THE VOTE OF AT LEAST TWO THIRDS (2/3) OF THE REMAINING DIRECTORS. 4. ACTION UNDER THIS SECTION IS INITIATED BY A COMPLAINT FILED WITH THE BOARD CHAIRMAN OR THE BOARD SECRETARY BY A MEMBER OF THE BOARD, AND A DETERMINATION BY A SIMPLE MAJORITY OF THE BOARD THAT THE COMPLAINT IS MADE IN GOOD FAITH. 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 BY DISTRICT. 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. THE DISPOSAL OF A SUBSTANTIAL PORTION OF THE COOPERATIVE'S ASSETS FORM 990, PART VI, SECTION B, LINE 11B MANAGEMENT PRESENTED A COPY OF THE FORM 990 TO THE BOARD FOR DISCUSSION, REVIEW AND APPROVAL 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 BOARD OF DIRECTORS AND OFFICERS ARE REQUIRED TO REVIEW AND BE FAMILIAR WITH THE POLICIES OUTLINED IN THE COOPERATIVE'S CONFLICTS OF INTEREST POLICY. THE BOARD OF DIRECTORS AND OFFICERS ARE REQUIRED TO DISCLOSE ANY ACTION OR SITUATION THAT MIGHT VIOLATE THE POLICY TO THE FULL BOARD OF DIRECTORS AS SOON AS POSSIBLE. THE CONFLICTS OF INTEREST POLICY IS REVIEWED ON AN ANNUAL BASIS. IF ANY DISCLOSURE ARISES, THE PRESIDENT/CEO REVIEWS THE CONTRACT AND/OR PURCHASE PROCEDURES. ADDITIONALLY, THE PRESIDENT/CEO AND STAFF EVALUATE EMPLOYEE RELATIONSHIPS WITH VENDORS AND OTHER OUTSIDE ENTITIES FOR POSSIBLE CONFLICTS OF INTERESTS. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF DIRECTORS COMPARE COMPENSATION REPORTED ON OTHER COOPERATIVE IRS FORMS 990 WHEN DETERMINING THE COMPENSATION OF THE PRESIDENT/CEO. THE PRESIDENT/CEO AND SENIOR STAFF USE AN INDEPENDENT CONSULTANT TO EVALUATE THE PAY STRUCTURE FOR THE COOPERATIVE. THE INDEPENDENT CONSULTANT USES A COMPENSATION SURVEY AND COMPARES COMPENSATION REPORTED ON OTHER COOPERATIVE IRS FORMS 990 WHEN DETERMINING THE COMPENSATION OF THE COOPERATIVE'S OTHER EMPLOYEES MEETING THE DEFINITION OF OFFICER AND KEY EMPLOYEES, IF ANY. THE SURVEY INCLUDES SALARIES FROM SIMILARLY SITUATED COOPERATIVES THROUGHOUT TEXAS AND THE NATION. FORM 990, PART VI, SECTION C, LINE 19 THE AUDITED FINANCIALS ARE AVAILABLE ON OUR WEBSITE. THE COOPERATIVE WILL PROVIDE A COPY OF THE CONFLICT OF INTEREST POLICY OR GOVERNING DOCUMENTS TO ANY MEMBER WHO REQUESTS A COPY. ALL REQUESTS MUST BE MADE IN WRITING. FORM 990, PART XI, LINE 9: NET CHANGE IN MEMBERSHIP 98,635. PATRONAGE DIVIDEND CAPITAL 23,700,345. OTHER EQUITY CHANGES 2,142,353. TRI-COUNTY ELECTRIC CHARITABLE FOUNDATION INC 600 NORTHWEST PKWY AZLE TX 760202916 993618413 CHARITABLE ORGANIZATION TX 501(C)(3) LINE 7 TRI-COUNTY ELECTRIC COOPERATIVE INC 1 TRI-COUNTY CARES INC 600 NORTHWEST PKWY AZLE TX 760202916 994190321 CHARITABLE ORGANIZATION TX 501(C)(3) LINE 7 TRI-COUNTY ELECTRIC COOPERATIVE INC 1 VALUE CHOICE INC 600 NORTHWEST PKWY AZLE TX 760202916 752803811 TELECOMMUNICATIONS TX TRI-COUNTY ELECTRIC COOPERATIVE INC C 69464 1.00000 1 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 VALUE CHOICE INC F 69186 CASH