Tri-county Electric Membership Corporation
501(c)(12)
Only null% goes to programs Strong reserves Growing revenue
Tri-county Electric Membership Corporation is a 501(c)(12) organization based in Dudley, North Carolina, registered in 1961, with $72,029,883 in FY2025 revenue. CharityIndex grades it A.
Po Box 130, Dudley, NC, 28333 EIN 56-0432086 Since 1961
Revenue (FY2025)
$72.0M
▲ 9.5% vs prior year
Expenses (FY2025)
$71.6M
Net assets
$38.7M
Employees
50
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
A
—Program efficiency40% of the ratingNo expense breakdown in filings
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. Not scored for Tri-county Electric Membership Corporation— this filing type doesn't report it, and the rating simply skips it (never counts it against the organization). See the exact thresholds →
AFinancial health25% of the rating6 mo reserves · +1% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For Tri-county Electric Membership Corporation: 6 mo reserves · +1% margin earns a A on this criterion. See the exact thresholds →
A+Governance25% of the rating6 of 6 checks met
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. For Tri-county Electric Membership Corporation: 6 of 6 checks met earns a A+ on this criterion. See the exact thresholds →
BTransparency10% of the rating3 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For Tri-county Electric Membership Corporation: 3 of 5 disclosure signals earns a B on this criterion. See the exact thresholds →
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Mission
Tri-county electric membership corporation is a member-driven cooperative committed to safely provide reliable electric power, offer superior service, take an active role in supporting the communities it serves
Contact & location
- Address
- Po Box 130, Dudley, NC, 28333
- City
- Dudley
- State
- North Carolina
- Category
- —
- Subcategory
- —
- Phone
- …
- Website
- …
Financial trends
Revenue grew from $17.5M (FY2013) to $72.0M (FY2025) across 13 reported years.
Financial snapshot
Financial health & position (FY2025)
Liabilities $82.1MNet assets $38.7M
Operating margin
0.6%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$120.7M
Total liabilities
$82.1M
Net assets
$38.7M
Salaries & benefits
$0
0% of expenses
Board members
11
11 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2025 | $72,029,883▲9.5% | $71,582,707▲11.5% | $38,656,031▲2.4% | $120,741,405▲5.0% | 990 |
| 2024 | $65,759,727▲6.9% | $64,192,751▲3.0% | $37,749,833▲1.9% | $115,035,217▲10.1% | 990 |
| 2023 | $61,498,465▲1.5% | $62,307,096▲6.1% | $37,034,659▼0.8% | $104,504,855▲7.1% | 990 |
| 2022 | $60,563,062▲1.7% | $58,703,229▲3.6% | $37,337,731▲12.0% | $97,581,997▲3.2% | 990 |
| 2021 | $59,542,754▲2.2% | $56,659,778▲0.2% | $33,335,379▲4.6% | $94,565,079▲0.9% | 990 |
| 2020 | $58,288,958▲0.6% | $56,558,128▼6.6% | $31,864,754▲9.8% | $93,729,368▲1.8% | 990 |
| 2019 | $57,962,647▲0.6% | $60,528,824▲3.6% | $29,015,170▼10.1% | $92,094,221▼3.8% | 990 |
| 2018 | $57,641,047▲5.5% | $58,439,391▲10.8% | $32,267,254▲7.3% | $95,709,686▲5.5% | 990 |
| 2017 | $54,655,909▼2.1% | $52,737,306▼0.3% | $30,058,582▲17.0% | $90,730,379▲12.5% | 990 |
| 2016 | $55,809,726▲260% | $52,896,408▲233% | $25,683,546▲2.9% | $80,667,094▲3.3% | 990 |
| 2015 | $15,485,067▼11.9% | $15,870,822▼5.8% | $24,960,129▼3.2% | $78,072,568▲3.1% | 990 |
| 2014 | $17,572,336▲0.3% | $16,846,221▲0.9% | $25,790,578▲1.4% | $75,706,950▼0.8% | 990 |
| 2013 | $17,526,983 | $16,701,054 | $25,430,848 | $76,324,243 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Leadership & compensation (FY2025)
Highest-paid: J Michael Davis — $326,818 (0.46% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| J Michael Davis | General Manager | 60 | $326,818 |
| Tony Grantham | Manager of Engineering | 55 | $216,818 |
| Kenneth E Davis Jr | Manager of Finance and Administration | 55 | $216,458 |
| David D Thornton | Engineer | 50 | $166,223 |
| Robert B Kornegay | Manager Member Svc | 40 | $156,045 |
| Ronnie G Miller | Line Superintendent | 40 | $154,783 |
| Stephanie B Brown | Accountant | 40 | $154,529 |
| Roy A Beavers | Lineman Foreman | 55 | $152,258 |
| Carl W Kornegay Jr | President | 8 | $19,600 |
| David Ray Vinson | Vice-president | 5 | $15,400 |
| Worth Overman Jr | Director | 4 | $14,500 |
| Keith Beavers | Director | 5 | $13,900 |
| Randy Mccullen | Director | 5 | $13,300 |
| Brandy S Rouse | Treasurer | 3 | $9,500 |
| Amanda A Murphy | Director | 3 | $8,852 |
| Patrick Lynch | Director | 3 | $8,600 |
| Scott G Ballard | Director | 3 | $7,900 |
| Jeff Henderson | Director | 3 | $7,300 |
| William Farmer Jr | Secretary | 8 | $6,200 |
Top vendors & contractors (FY2025)
| Contractor | Services | Paid |
|---|---|---|
| River City Construction Inc | Line Construction | $1,130,342 |
| C-phase Services LLC | Sub Station Construction | $447,786 |
| John J Rowe Tree Co | Right of Way Clearing | $298,188 |
| Electrical Consulting Engineers | Electrical Consulting | $229,556 |
| Transformer Maint Service Inc | Transformer Repairs Svc | $225,323 |
Grants received · $54K total
8 grants to Tri-county Electric Membership Corporation totaling $54K, reported by foundations on their Schedule I filings.
| Grantmaker | Purpose | Year | Amount |
|---|---|---|---|
| North Carolina Electric Membership Corporation | Educational assistance | 2024 | $6,040 |
| North Carolina Electric Membership Corporation | Educational assistance | 2023 | $6,040 |
| North Carolina Electric Membership Corporation | Educational assistance | 2022 | $6,040 |
| North Carolina Electric Membership Corporation | Educational assistance | 2021 | $5,270 |
| North Carolina Electric Membership Corporation | Educational assistance | 2020 | $5,270 |
| North Carolina Electric Membership Corporation | Educational assistance | 2019 | $5,270 |
| North Carolina Electric Membership Corporation | Educational assistance | 2018 | $15,000 |
| North Carolina Electric Membership Corporation | Educational assistance | 2017 | $5,270 |
Frequently asked questions
- Is Tri-county Electric Membership Corporation a legitimate nonprofit?
- Yes. Tri-county Electric Membership Corporation is a 501(c)(12) organization registered with the U.S. Internal Revenue Service under EIN 56-0432086, based in Dudley, North Carolina.
- What is Tri-county Electric Membership Corporation's EIN?
- Tri-county Electric Membership Corporation's Employer Identification Number (EIN) is 56-0432086.
- How much revenue does Tri-county Electric Membership Corporation report?
- Tri-county Electric Membership Corporation reported $72,029,883 in total revenue on its fiscal year 2025 IRS Form 990 filing.
- What financial grade does Tri-county Electric Membership Corporation have?
- CharityIndex grades Tri-county Electric Membership Corporation A, based on financial health (reserves and operating margin).
- How much does Tri-county Electric Membership Corporation's highest-paid employee make?
- The highest reported compensation on Tri-county Electric Membership Corporation's latest Form 990 is $326,818, paid to J Michael Davis (General Manager).
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Data for Tri-county Electric Membership Corporation (EIN 56-0432086) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.