2021-10-29T13:26:38-07:00 2020-12-31 990 2020-01-01 381109570 TRI-COUNTY ELECTRIC COOPERATIVE TRI- 5146477554 7973 East Grand River Ave Portland MI 48875 Christopher ONeill President/CEO 5146471281 2021-10-29 1 11 0 AAL2 2020 2022-09-23 18:48:47Z Christopher O'Neill 7973 East Grand River Avenue Portland MI 48875 55200068 0 X www.homeworks.org X 1937 MI To provide our members and customers with energy, comfort and communication solutions that will enhance their quality of life. 7 7 111 0 41312 441820 0 0 51344749 54801955 130694 113369 244806 241232 51720249 55156556 0 0 2850478 4562769 6883790 7522788 0 0 0 43259943 44197597 52994211 56283154 -1273962 -1126598 149313985 168577443 87500119 102821557 61813866 65755886 To provide our members and customers with energy, comfort and communication solutions that will enhance their quality of life. 0 0 Revenues from sale of electric power to 26,439 meters. Added/replaced 11.8 miles of line for a total of 3,402 miles of line. Revenues from sale of high speed internet to 4,354 customers. Constructed 530 miles of fiber to provided high speed internet and phone service to our electric members. 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 1 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 1 1 1 0 1 65 0 1 111 1 1 1 0 0 0 0 53320012 691425 0 0 0 X 7 7 1 0 0 0 1 1 1 1 0 0 0 1 1 1 1 1 1 1 1 0 X Patrick Simmer 5176477554 7973 E Grand River Ave Portland MI 48875 X Christopher Reed Operations Manager 43.1 0 X 132233 0 113948 Christian Jensen Engineering Manager 43.5 0 X 127885 0 101586 Thomas Manting CIO 40.9 0.3 X 127510 0 90498 Patrick Simmer CFO 43.6 3.6 X 131363 0 80268 Christopher O'Neill President/CEO (May-Dec) 42.2 3 X 135539 0 57558 Cody Teegardin Lineman 52.5 0 X 145650 0 35602 Jeremy McVeigh Lineman 49.6 0 X 128467 0 47790 Mark Kappler President/CEO (Jan-Apr) 45.5 1.8 X 143716 0 25802 Aaron Gottleber Lineman (Jan-Oct) 47.1 0 X 135681 0 28263 Luke Pohl Chairman 12.68 0.3 X X 21830 0 0 Corinna Batora Director 8.99 0.3 X 18523 0 0 Kimber Hansen Director 7.7 0.3 X 17105 0 0 Shirley Sprague Director 10.47 0.3 X 16633 0 0 Ed Oplinger Secretary/Treasurer 4.6 0.3 X X 16160 0 0 John Lord Vice Chairman 8.87 0.3 X X 16003 0 0 James Stebbins Director 11.95 0.3 X 15688 0 0 1329986 0 581315 29 0 1 0 B&M Ashman Inc 8455 Ronda Dr Canton Twp MI 48187 Fiber Construction 2530540 Earthcom Inc 3424 Corwin Rd Williamston MI 48895 Fiber Construction 2276111 Woodwalkers Electrical dba M/C Power Inc 8210 N Harrison Ave Roscommon MI 48653 Line Construction 2227929 Pulse Broadband LLC 2121 Cooperative Way Herndon VA 20171 Fiber Consultant 1954655 Wright Tree Services Inc PO Box 1718 Des Moines IA 50306 Tree Cutting/Trimming 1796403 17 0 Electric Revenues 221000 49813694 49813694 0 0 Internet Revenues 517110 2808863 2767551 41312 0 Capital Credits 900099 2179398 2179398 0 0 0 0 0 0 54801955 95554 0 0 95554 0 0 0 0 0 0 0 0 238600 0 0 0 238600 0 238600 0 0 238600 0 17815 0 0 0 17815 17815 0 0 17815 0 0 0 0 0 0 0 0 0 0 0 0 46144 43512 2632 2632 0 0 0 55156556 54763275 41312 351969 X 0 0 0 4562769 836517 77572 4376282 1067160 794295 370962 1652876 3354152 4211979 Cost of Power/Internet Service 28756945 Distribution 3540439 Administrative and General 1387541 Customer Accounts 1292586 1079 56283154 0 0 0 0 0 2206656 2058724 0 0 6658143 6824740 0 0 0 0 93249 81122 1940050 1927599 1935371 1677504 155035688 37527488 98078067 117508200 0 0 38369152 38293416 13800 186715 19497 19423 149313985 168577443 11295547 11114704 0 0 2712084 3035031 0 0 5641 5303 0 73486847 88166519 0 500000 0 0 87500119 102821557 X 50409728 52741592 11404138 13014294 0 0 61813866 65755886 149313985 168577443 X -1126598 0 0 0 0 5068618 X 0 1 X 1 0 0 1 X 3300 571787 575087 0 8107502 3185390 4922112 0 0 0 0 0 141933620 34342098 107591522 0 4419479 0 4419479 117508200 Wolverin Power Supply Co-Op Capital Credits 27234877 C Tri-Co Services, Inc. 7378129 C CFC-Subordinate Certificates 1796650 C CFC-Patronage Capital 1233005 C Memberships and Other Investments 650755 C 38293416 0 0 X 55533646 0 0 0 377090 377090 55156556 0 0 0 55156556 51719307 0 0 0 0 0 51719307 0 4563847 4563847 56283154 Schedule D, Part IV, Line 2b The cooperative collects and remits voluntary contributions to the Tri-County Electric People Fund, Inc. (the fund) a 501(c)(3) nonprofit organization for charitable giving to individuals and organizations primarily in the Cooperative's service area. Amounts owed to the fund on December 31, 2020 and 2019 amounted to $5,303 and $5,641, respectively. Schedule D, Part X, Line 2 The Cooperative is exempt from federal income tax under Section 501(c)(12). The Cooperative is annually required to file a Return of Origination Exempt from Income Tax (Form 990) with the IRS. The Cooperative files an Exempt Organization Business Income Tax Return (Form 990-T) with the IRS to report its unrelated business taxable income. The Cooperative evaluates its tax positions that have been taken or are expected to be taken on income tax returns to determine if an accrual is necessary for uncertain tax positions. As of December 31, 2020, and 2019, the unrecognized tax benefit accrual was zero. The Cooperative will recognize future accrued interest and penalties related to unrecognized tax benefits in income tax expense if incurred. The Company is no longer subject to Federal tax examinations by tax authorities for years before 2017 and state examinations for years before 2017. The Cooperative undergoes an annual analysis of its various tax positions, assessing the likelihood of those positions being upheld upon examination with relevant tax authorities. Schedule D, Part XI, Line 2d Equity Earnings from Subsidiary $378,168, Non-Operating Expense -$1,078. Schedule D, Part XII, Line 4b Patronage Capital Credits Allocated during the year $4,562,769 and Non-Operating Expense $1,078. X X X 0 0 0 Christopher Reed Operations Manager 125377 0 4500 0 2357 0 92254 0 21693 0 246181 0 0 0 Christian Jensen Engineering Manager 123027 0 3900 0 958 0 77143 0 24922 0 229950 0 0 0 Thomas Manting CIO 123747 0 2000 0 1763 0 66055 0 24443 0 218008 0 0 0 Patrick Simmer CFO 121831 0 7000 0 2532 0 72459 0 7809 0 211631 0 0 0 Christopher O'Neill President/CEO 132727 0 2500 0 312 0 33115 0 25288 0 193942 0 0 0 Cody Teegardin Lineman 145425 0 0 0 225 0 13209 0 23148 0 182007 0 0 0 Jeremy McVeigh Lineman 128046 0 0 0 421 0 23497 0 24844 0 176808 0 0 0 Mark Kappler President/CEO 79816 0 0 0 63901 0 20132 0 5669 0 169518 0 0 0 Aaron Gottleber Lineman 97882 0 0 0 37799 0 13919 0 14954 0 164554 0 0 0 Schedule J, Part II Included in column "C", deferred comp, is the estimated current year increase in the actuarial value of the defined benefit plan for all employees except Mark Kappler and Aaron Gottleber who both left the company prior to December 31, 2020. These amounts do not represent any current year contribution to the plan. They are estimates of the increase in actuarial value of the plan received from the NRECA. The current year expense and increase in actuarial value for each employee are reflected in the statement on the Schedule O for Form 990, Part VII, Column F. Christia Manting Spouse of CIO 77572 Wages and Benefits 0 Form 990, Part VI, Section A, Line 2 All board members and the CEO have business relationships due to their positions with Tri-Co Services Inc., a wholly owned corporation. Form 990, Part VI, Section A, Line 6 There is one class of members. Each member is entitled to one vote. Form 990, Part VI, Section A, Line 7a Each member is entitled to one vote to elect their district board member at their annual district meeting. Form 990, Part VI, Section A, Line 7b The bylaws may be altering, amending, or repealed by a vote of two-thirds of the Delegates of the Cooperative. Form 990, Part VI, Section A, Line 8b There is no committee with the authority to act on behalf of the full board. Form 990, Part VI, Section B, Line 11b The CEO and CFO reviewed the Form 990 prior to being filed. Form 990 is also distributed to the board to review and approved by board resolution prior to being filed with the IRS. Form 990, Part VI, Section B, Line 12c A board policy exists describing the situations creating a conflict of interest and requires each of the directors and key employees to disclose and report any potential conflicts of to the proper authority. The CFO, CIO and other employees must report to the CEO. The CEO must report to the board chairman. The CEO, CFO, CIO and the directors are required to review and sign an annual statement pertaining to conflicts of interest. Directors found in violation of this policy will be dealt with pursuant to the bylaws of the Cooperative. A board member abstains from voting on any items with potential conflicts. Form 990, Part VI, Section B, Line 15 Job descriptions are maintained for each position, providing a basis for responsibility for each position. Annual goals and objectives tied to the strategic plan of the Organization are set for each position. Once each fiscal year the performance of these positions are evaluated. For the CEO, the board of directors as a whole evaluates the performance against the job responsibilities and goals and objectives. Also, guidelines are provided by the national organization, called the CEO Competency Profile, which provides a list of competencies and characteristics for success. For the CFO and CIO, the position is evaluated in a similar manner as the CEO. Annual compensation surveys are obtained for the above positions in similar organization and similar responsibilities which provide compensation ranges. Education, background and work experience is also taken into consideration. Annual evaluations are brought to the board in September of each year. This annual process was last completed in September 2020. Form 990, Part VI, Section C, Line 19 The organization makes its governing documents, conflict of interest policy and financial statements available upon request. Form 990, Part VII, Section A, Line 1a Included in column "f", is estimated amount of other compensation, which includes the estimated annual increase in the actuarial value of the defined benefit plan for all employees except Mark Kappler and Aaron Gottleber who both left the Cooperative prior to December 31, 2020. The estimated increase for Christopher Reed is $85,855, Christian Jensen is $70,724, Thomas Manting is $59,600, Patrick Simmer is $66,292, Christopher O'Neill is $26,211, Cody Teegardin is $8,654, and jeremy McVeigh is $18,988. These amounts are an estimate of the increase in value of the plan and is not the current year expense of the Cooperative. The current year expense of the defined benefit plan is $26,428, $26,536, $26,686, $25,435, $21,461, $16,703 and $16,703 respectively. Form 990, Part IX, Line 4 The Cooperative has interpreted the instructions to part IX, line 4 to mean patronage allocated for the year, rather than capital credits retired This is consistent with the bylaws of the Cooperative. Form 990, Part XI, Line 9 Donated Capital $231,988, Capital Credits Retired $-104,307, Equity Earnings by Subsidiary $378,168, Patronage Capital Allocated during the year $4,562,769, Total of $5,068,618. Tri-County Electric People Fund Incorporated 7973 E Grand River Ave Portland MI 48875 383083659 Operation Round Up MI 501(C)(3) Line 7 Tri-County Electric Cooperative 1 Tri-Co Services Incorporated 7973 East Grand River Ave Portland MI 48875 382803942 Sales, Service, Internet MI Tri-County Electric Cooperative C 582271 8824584 1 1 1 0 0 0 1 1 0 0 0 0 0 0 0 1 1 1 1 1 1 Tri-Co Services Incorporated a-iv 42400 Actual Cost Tri-Co Services Incorporated e 4900000 Actual Cost Tri-Co Services Incorporated f 500000 Actual Cost Tri-Co Services Incorporated n 70382 Actual Cost Tri-Co Services Incorporated o 1175929 Actual Cost Tri-Co Services Incorporated q 175320 Actual Cost Tri-Co Services Incorporated r 9175816 Actual Cost Tri-County Electric People Fund Incorporated r 64513 Actual Cost