Tri-State Electric Membership Corp

Not tax-deductible

McCaysville, GAMutual-benefit / member-servingSince 1971Mutual / membership EIN 62-0459672Revenue $49.1M in FY2025

On file with the IRStsemc.netPo Box 68, 30555-0068 · McCaysville, GATax-exempt since Jul 1979

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To provide Electric energy to rural areas.

100¢ of each $1 spent went to programs.
$918K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Programs: Part IX · Pay: Part VII

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FY2025 · Form 990Independent: from IRS data, not the org
Download 990
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 5
filings with a surplus
Average surplus $1.1M a year · 3% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$918K
to officers and key staff · 2% of spending
Looks good: pay to officers and key staff is 2% of spending; 15% or less.
Pt VII · Sec A
2 mo
of spending, in cash
Fine: 1.7 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$35.5M
49% of total assets
Looks good: liabilities are 49% of assets; 50% or less.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$49.1M
+11% vs prior year
Spent
$47.3M
To programs
100%
Net assets
$37.1M
By yearFY2021–FY2025
Revenue
$49.1M
FY2025▲ +11%
Tap a bar for its year
Revenue by fiscal year
FY2021$38.3M
FY2022$40.7M
FY2023$44.1M
FY2024$44.4M
FY2025$49.1M
Expenses
$47.3M
FY2025▲ +9%
Tap a bar for its year
Expenses by fiscal year
FY2021$37.4M
FY2022$39.7M
FY2023$43.2M
FY2024$43.3M
FY2025$47.3M
Net assets
$37.1M
FY2025▲ +5%
Tap a bar for its year
Net assets by fiscal year
FY2021$31.9M
FY2022$33.1M
FY2023$34.0M
FY2024$35.2M
FY2025$37.1M

From the FY2025 Form 990 (year ending June 2025) · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jul 1979.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $47.3M

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

14 people listed on the 990; $918K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
General Manager
$189,205Pt VII · Sec A
Operations Manager
$140,644Pt VII · Sec A
Human Resource Manager
$123,980Pt VII · Sec A
Finance Manager
$118,909Pt VII · Sec A
IT Manager
$116,347Pt VII · Sec A
Human Resource Manager
$106,953Pt VII · Sec A
Right of Way Manager
$106,069Pt VII · Sec A
President
$2,575Pt VII · Sec A

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021
Stacy Chastain$189,205$198,316$185,537$186,604$194,425
Chuck Thomas$140,644$142,376$131,380$126,143$130,023
Chris Hulsey$123,980$122,113$112,668$109,588$108,341
Christy Setser$118,909$114,025$110,139$110,163$102,956
David Lewis$116,347$116,330———
Lisa Hood$106,953$105,218$100,662$103,136—
Keith Thomas$106,069————
Houston Rogers—$2,025$3,025$3,225—

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Brings electricity to rural communities.

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Provided by the organization

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1 program · $47.3M · in their own filed words · FY2024
01

Provide electric energy and related services to rural areas. The cooperative services 21,799 customers.

$47.3Mprogram expense

By the numbers

The FY2025 990, line by line.

1The main four
Money inPt VIII
$49.1M
Ln 12
Fees for servicesLn 2g$48.0M
Other incomeLn 4–11$769K
Investment incomeLn 3$292K
Money outPt IX
$47.3M
Ln 25
Programscol B$47.3M
Owns and owesPt X
$37.1M
net assets · Ln 32
Cash and savingsLn 1–2$6.6M
Total assetsLn 16$72.6M
LiabilitiesLn 26$35.5M
PeoplePt VI, VII
14
listed · VII A
PaidVII A14
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$48.0M
Investment incomeLn 3$292K
Other incomeLn 4–11$769K
Total revenueLn 12$49.1M
Assets in detailPt X, end of year
CashLn 1$6.6M
Cash and savings togetherLn 1–2$6.6M
InvestmentsLn 11–13$928K
Land, buildings, equipmentLn 10c$59.1M
Other assetsLn 15$0
Total assetsLn 16$72.6M
LiabilitiesLn 26$35.5M
Net assetsLn 32$37.1M
OperationsPt I, VI
EmployeesI 545
VolunteersI 60
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY25End FY25
Cash and savingsLn 1–2$4.2M$6.6M
InvestmentsLn 11–13$831K$928K
Land, buildings, equipmentLn 10c$56.5M$59.1M
Total assetsLn 16$66.9M$72.6M
LiabilitiesLn 26$31.6M$35.5M
Net assetsLn 32$35.2M$37.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$918K
Other salaries and wagesLn 7$4.0M
Pension plan contributionsLn 8$354K
Payroll taxesLn 10$293K
Legal feesLn 11b$13K
Accounting feesLn 11c$38K
Advertising and promotionLn 12$96K
Office expensesLn 13$8K
Conferences, conventions and meetingsLn 19$15K
InterestLn 20$1.3M
Depreciation, depletion and amortizationLn 22$2.6M
InsuranceLn 23$65K
Other expenses (24a–d)Ln 24$40.6M
All other expensesLn 24e−$3.0M
Total functional expensesLn 25$47.3M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $49.1M$47.3M$1.8M$37.1M 990 PDF
FY2024 $44.4M$43.3M$1.2M$35.2M 990 PDF
FY2023 $44.1M$43.2M$876K$34.0M 990 PDF
FY2022 $40.7M$39.7M$972K$33.1M 990 PDF
FY2021 $38.3M$37.4M$858K$31.9M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support J · Pay O · Explanations
See the full FY2025 990 (6 parts)
Part I · Summary $49,107,251 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $43,567,395$48,046,634
I-10 Investment incomePrior year $131,052$291,843
I-11 Other revenuePrior year $726,033$768,774
I-12 Total revenuePrior year $44,424,480$49,107,251
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $5,261,775$5,580,804
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $38,010,776$41,743,312
I-18 Total expensesPrior year $43,272,551$47,324,116
I-19 Revenue less expensesPrior year $1,151,929$1,783,135
Part VI · Governance 7 of 7 board members independent, no flags
VI-1a Voting members of the governing body7
VI-1b Independent voting members7
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $49,107,251 across 4 lines filed
Lines not itemized here account for $935 of total revenue; see the IRS return.
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $48,046,634$48,046,634
VIII-3 Investment incomeExcluded from tax $291,843$291,843
VIII-6 Net rental income or lossExcluded from tax $767,839$767,839
VIII-12 Total revenueRelated to mission $48,047,569 · Unrelated business $0 · Excluded from tax $1,059,682$49,107,251
Part IX · Statement of functional expenses $47,324,116 across 14 lines filed
IX-5 Pay of current officers, directors and key staff$918,332
IX-7 Other salaries and wages$4,015,589
IX-8 Pension plan contributions$353,589
IX-10 Payroll taxes$293,294
IX-11b Legal fees$12,511
IX-11c Accounting fees$38,384
IX-12 Advertising and promotion$96,002
IX-13 Office expenses$8,046
IX-19 Conferences, conventions and meetings$15,427
IX-20 Interest$1,264,150
IX-22 Depreciation, depletion and amortization$2,637,674
IX-23 Insurance$65,494
IX-24 Other expenses (24a–d)$40,575,941
IX-24e All other expenses−$2,970,317
IX-25 Total functional expenses$47,324,116
Part X · Balance sheet $72,560,966 assets, 13 lines filed
Asset lines not itemized here account for $1,297,596; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $4,237,521$6,613,362
X-4 Accounts receivableStart of year $1,826,076$2,160,148
X-8 Inventories for sale or useStart of year $1,828,399$2,169,699
X-9 Prepaid expenses and deferred chargesStart of year $374,044$338,302
X-10c Land, buildings and equipment, netStart of year $56,488,290$59,054,194
X-13 Program-related investmentsStart of year $830,937$927,665
X-15 Other assetsStart of year $11,064$0
X-16 Total assetsStart of year $66,860,220$72,560,966
X-17 Accounts payable and accrued expensesStart of year $4,476,704$4,454,774
X-25 Other liabilitiesStart of year $4,356,139$4,470,405
X-26 Total liabilitiesStart of year $31,626,873$35,502,631
X-32 Total net assets or fund balancesStart of year $35,233,347$37,058,335
X-33 Total liabilities and net assetsStart of year $66,860,220$72,560,966
Part XI · Reconciliation of net assets $37,058,335 net assets at year end
XI-1 Total revenue$49,107,251
XI-2 Total expenses$47,324,116
XI-3 Revenue less expenses$1,783,135
XI-4 Net assets at start of year$35,233,347
XI-9 Other changes in net assets$41,853
XI-10 Net assets at end of year$37,058,335

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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