Tri-County Electric Cooperative
Legal name: Tri-county Electric Cooperative Inc
Nonprofit profile at a glance
- EIN
- 750619960
- IRS 990 coverage
- 2010–2024
- Official website data refreshed
- Sep 2026
- Forms available
- Form 990 2024
- Location
- Azle, Texas, US
- Phone
- (817) 444-3201
- Rating confidence
- Limited
Reported finances
- Revenue
- $415,363,993
- Expenses
- $415,363,993
- Assets
- $1,521,595,570
- Liabilities
- $1,056,182,836
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
27 people listed
Executive titles in this filing
- SCOTT SPENCE (PRESIDENT & CEO)
Highest reported compensation
- SCOTT SPENCE (PRESIDENT & CEO): $554,542 total reported compensation
- WESLEY SCHEETS (COO & VP OF OPERATIONS): $537,218 total reported compensation
- MELISSA WATTS (CFO & VP OF FINANCE (THRU 6/24)): $389,472 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Tri-County Electric Cooperative is a member-owned electric cooperative dedicated to providing reliable, affordable, and safe electric service to its members.
What it reported doing in 2024
To provide to our members - 140,694 active services at year-end were provided electricity on a cooperative basis and were allocated patronage capital.
Operating model
- Revenue model
- Earned-program. 97% of the money available for current operations came from fees and other program 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
- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.
Rating breakdown
- Financial Efficiency: NotEnoughData
- Transparency & Controls: 83
- Accountability: 91
- Sustainability: 48
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: Limited
- Program expense ratio: Limited
- 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: Limited
- Related-party transparency: Yes; rating input score 100
Accountability
- Independent voting board: 100%; rating input score 100; 77th percentile among comparable filings
- Governance controls: 7 of 9 controls in place; rating input score 78
- 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: Missing
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: 0%; rating input score 29; 29th percentile among comparable filings
- Total-asset coverage ratio: 3.66; rating input score 80; 80th percentile among comparable filings
- Liabilities to assets ratio: 0.69; rating input score 22; 22nd percentile among comparable filings
- Officer compensation ratio: 1.2%; rating input score 70; 70th percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: 5.3% per year; rating input score 100; 45th percentile among comparable filings
- Asset growth: 9.8% per year; rating input score 100; 69th percentile among comparable filings
Details
- What they do: 4 programs and campaigns described on the official site · 1 operating location identified
- Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
- Governance: 9 of 9 board members independent · 7 of 9 filing controls reported
- Programs: 1 filed program accomplishment
- Leadership: top reported pay $555K · 27 people listed · 3 of 6 pay-setting controls reported
- Highest-paid contractors: 5 contractors listed · $30.6M reported
- Consistency: 11 of 11 current checks pass
- Schedules: 4 filed schedules · includes executive pay and related organizations
- Filing history: 14 filing years from 2010 to 2024
- Contacts: How to reach this organization
- Money network: 25 filed money-flow records
- Related organizations: 3 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.
- Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- High — Sustainability: Operating margin scored 29/100.
- Review — Accountability: Governance controls: Independent financial-statement audit not reported.
- High — Sustainability: Liabilities to assets ratio scored 22/100.