Tri-county Electric Cooperative

Nonprofit profile at a glance

EIN
381109570
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Portland, MI, USA
Phone
5176477554
Rating
51
Verdict
MIXED
Rating confidence
Moderate

Reported finances

Revenue
$73,378,412
Expenses
$74,021,908
Assets
$244,298,896
Liabilities
$160,739,034

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

17 people listed

Executive titles in this filing

  • Christopher O'Neill (President-CEO)

Highest reported compensation

  • Christopher O'Neill (President-CEO): $437,943 total reported compensation
  • Thomas Manting (CIO): $264,048 total reported compensation
  • Christian Jensen (Engineering Supervisor): $246,993 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide our members and customers with energy comfort and communication solutions that will enhance their quality of life.

What it reported doing in 2024

Revenues from sale of high speed internet to customers 10,413. Constructed 19 miles of fiber to provide high speed internet and phone service to our electric members and other non-member expansion areas for a total of 2,122 miles of fiber.

Operating model

Revenue model
Other-operating. 100% of the money available for current operations came from other operating revenue.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

MIXED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 0
  • Transparency & Controls: 85
  • Accountability: 100
  • Sustainability: 41
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: 0%; rating input score 0
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 68th percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 100%; rating input score 100; 77th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -0.9%; rating input score 23; 23rd percentile among comparable filings
  • Total-asset coverage ratio: 3.3; rating input score 78; 78th percentile among comparable filings
  • Liabilities to assets ratio: 0.66; rating input score 24; 24th percentile among comparable filings
  • Officer compensation ratio: 3.2%; rating input score 36; 36th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 4.1% per year; rating input score 100; 33rd percentile among comparable filings
  • Asset growth: 7.1% per year; rating input score 100; 52nd percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 7 of 7 board members independent · 9 of 9 filing controls reported
  • Programs: 3 filed program accomplishments
  • Leadership: top reported pay $438K · 17 people listed · 3 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $6.6M reported
  • Consistency: 32 of 44 current checks pass · 12 findings to review
  • Schedules: 6 filed schedules · includes major donors, executive pay, and related organizations
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 17 filed money-flow records
  • Related organizations: 2 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • High — Sustainability: Operating margin scored 23/100.
  • High — Sustainability: Liabilities to assets ratio scored 24/100.
  • Moderate — Sustainability: Officer compensation ratio scored 36/100.
  • Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Part IX AllOtherExpenses column sum did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Part IX BenefitsToMembers column sum did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Part IX CompCurrentOfficersDirectors column sum did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Part IX CompDisqualPersons column sum did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Part IX DepreciationDepletion column sum did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Part IX Interest column sum did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Part IX Occupancy column sum did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Part IX OtherEmployeeBenefits column sum did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Part IX OtherSalariesAndWages column sum did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Part IX PayrollTaxes column sum did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Part IX PensionPlanContributions column sum did not reconcile in the filed values.