2024-08-22T08:39:53-05:00 2023-12-31 631035228 Jackson Thornton & Co PC PO Box 96 Montgomery AL 361010096 990 2023-01-01 630196775 Southern Pine Electric Cooperative Inc SOUT 2518675415 PO Box 528 Brewton AL 36427 Jason Jackson Chief Financial Officer 2518675415 2024-08-19 1 1 Patrick Cooper P00856177 3348347660 2024-08-01 2023 2024-08-08 14:25:15Z NA Vince Johnson PO Box 528 Brewton AL 36427 60293022 0 X www.southernpine.org X 1938 AL To provide electric utility service to cooperative members. 9 9 79 0 0 0 0 0 56887145 59777764 55714 178262 323130 336996 57265989 60293022 20000 20000 2925493 6123759 927235 912893 0 0 0 53393261 53236370 57265989 60293022 0 0 105894035 110891507 19964233 19177911 85929802 91713596 Southern Pine Electric Cooperative is a nonprofit organization that exists to provide reliable electric service to its members at the lowest possible cost. 0 0 Utilizing 3,443 miles of electric distribution lines, Southern Pine Electric Cooperative, Inc. provided 466,481,288 Kilowatt-Hours of electric energy to approximately 16,187 residential, commercial, and industrial members located in South Alabama. 0 0 0 0 0 0 0 0 0 1 0 1 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 1 47 0 1 79 1 0 0 0 0 0 59043118 912908 0 0 0 X 9 9 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X Jason Jackson 2518675415 2134 South Blvd Brewton AL 36426 Allen Lang Trustee 3.00 X 36011 0 0 Dwight Maloy Trustee 2.80 X 32515 0 0 Lynn Powell Trustee 5.30 X 38232 0 0 David Cook Jr Trustee 8.00 X 36956 0 0 Bobby Ballard Trustee 4.60 X 18579 0 0 Hilbert Hall Trustee 4.30 X 33459 0 0 Keith Pugh Trustee 3.00 X 13837 0 0 Scotty White Trustee 3.80 X 14269 0 0 Rod Higdon Trustee 4.30 X 34416 0 0 Kenny Bledsoe Trustee 1.00 X 6380 0 0 Vince Johnson Chief Executive Officer 47.00 X 243108 0 80010 Jason Jackson Chief Financial Officer 43.00 X 146977 0 56360 Robert Cotten Superintendent of Operatio 50.00 X 172612 0 62639 Johnny Jordan District Foreman 50.00 X 152742 0 50292 Rodney Hildreth District Foreman 50.00 X 142022 0 46796 Brian Richburg Construction Foreman 47.00 X 131135 0 49949 Jeff Kirkland Director of Member Svcs 46.00 X 128867 0 52634 Phillip Carter Lineman I 57.00 X 129513 0 44158 1511630 0 442838 17 0 1 0 Asplundh Tree Expert Company PO Box 532729 Atlanta GA 30353 Right of Way Maintenance 788971 Harper Electric Construction PO Box 698 Andalusia AL 36420 Powerline Construction 532244 Meridian Coop 100 Ashford Center N Suite 500 Atlanta GA 30338 Software Support 509571 Terex USA 4686 Collections Center Dr Chicago IL 60693 Truck Const & Repair 235923 Alcan Management 207 Mayfield Lane NE Jacksonville AL 36265 ROW Maintenance 193499 6 Sales of Electricity 221000 59043118 59043118 Patronage Capital 221000 734646 734646 59777764 178262 178262 336996 0 336996 336996 336996 60293022 59777764 0 515258 X 20000 6123759 912893 116218 3014744 Cost of Power 38832826 Dist Exp - Maintenance 5017144 Dist Exp - Operations 2948645 Customer Accounts Exp 1668518 1638275 60293022 1649326 1594818 5830892 6625823 944148 1018417 14093 11676 110660460 35608263 71479949 75052197 1000 1000 25974627 26587576 105894035 110891507 6397926 6054692 2825756 2305953 10740551 10817266 19964233 19177911 X 102974 99969 0 0 85826828 91613627 85929802 91713596 105894035 110891507 X 0 5783794 X X 0 1 X 1 0 176146 176146 110484314 35608263 74876051 75052197 Economic Development Loans Receivable 491632 C Patronage Capital - Cooperative Finance Corporation 6730 C Patronage Capital - PowerSouth Energy Cooperative 24719308 C Patronage Capital - United Utility Services 234666 C Patronage Capital - Southeastern Data Cooperative 161873 C Patronage Capital - Gresco Utility Supply, Inc. 209385 C Patronage Capital - Federated Insurance 209811 C Patronage Capital - CoBank 1000 C Patronage Capital - NRTC 53 C Capital Term Certificates - CFC 547061 C Other Investments in associated organizations 6057 C 26587576 Customer deposits 1399697 Accumulated provision for pension and benefits 9417569 10817266 X Part X, Line 2: Income taxes - SPEC is exempt from income taxes under Internal Revenue Code Section 501(c)(12). SPS is subject to federal and state income taxes. Management evaluated the Cooperative's tax positions and concluded that the Cooperative had taken no uncertain tax positions that require adjustment to the financial statements. 1 Monroe County Economic Development Alliance 15 N Mount Pleasant Street Monroeville AL 36460 271235835 501(c)(3) 0 10000 Economic Development Activities Escambia County Economic Development Alliance PO Box 1266 Atmore AL 36504 581946928 501(c)(3) 0 10000 Economic Development Activities Part I, Line 2: An application is submitted stating the purpose of the grant, timetable of implementation, names of individuals responsible for the project and total cost of the project and/or costs of ongoing operations. X X X X 0 0 0 Vince Johnson Chief Executive Officer 243108 0 0 0 0 0 56685 0 23325 0 323118 0 0 0 Robert Cotten Superintendent of Operatio 172612 0 0 0 0 0 39314 0 23325 0 235251 0 0 0 Jason Jackson Chief Financial Officer 146977 0 0 0 0 0 33035 0 23325 0 203337 0 0 0 Johnny Jordan District Foreman 152742 0 0 0 0 0 26967 0 23325 0 203034 0 0 0 Rodney Hildreth District Foreman 142022 0 0 0 0 0 23471 0 23325 0 188818 0 0 0 Jeff Kirkland Director of Member Svcs 128867 0 0 0 0 0 29309 0 23325 0 181501 0 0 0 Brian Richburg Construction Foreman 131135 0 0 0 0 0 26624 0 23325 0 181084 0 0 0 Phillip Carter Lineman I 129513 0 0 0 0 0 20833 0 23325 0 173671 0 0 0 Form 990, Part VI, Section A, line 6 Southern Pine Electric Cooperative, Inc. is a not-for-profit membership organization whose members have identical voting rights and are assigned margins in accordance with the cooperative's bylaws. Form 990, Part VI, Section A, line 7a The entire general membership re-elects the governing body by vote at the annual membership meeting. Form 990, Part VI, Section A, line 7b The membership must approve decisions that involve substantial transfers of cooperative assets, amendments to the cooperative's bylaws, as well as other decisions requiring approval of the membership by law, the articles of incorporation, and/or the cooperative's bylaws. Form 990, Part VI, Section B, line 11b The Form 990 was reviewed by the Chief Executive Officer and the Chief Financial Officer before it was presented to the board. The tax consultant hired to assist in the preparation of the Form 990 attended a board meeting prior to filing the Form 990 with the IRS and conducted a formal review of the Form 990 with the trustees. Form 990, Part VI, Section B, line 12c When feasible, all purchases are made at the lowest cost available, large items are open to bid, all checks issued require two signatures, checks issued over $25,000 require at least one trustee signature. These procedures ensure that two or more staff and/or trustees review each check so that no favoritism or conflicts of interest exist in purchasing materials, paying for goods or services or issuing payroll. Form 990, Part VI, Section B, line 15 Compensation of the President/CEO is set and approved by the Board of Trustees. It and all other compensation is based on salaries of comparable organizations, experience, length of service and job performance. Compensation for other employees are set by the President/CEO and at least one Staff member using the same guidelines. Form 990, Part VI, Section C, line 19 Financial statements, by-laws and policies are available for inspection at the Brewton Office, 2134 S Blvd, Brewton, Al, 36426. Form 990, Part IX, Line 4 The instructions to the Form 990 indicate that organizations exempt under Section 501(c)(12) should report "patronage dividends paid" to their members in Part IX, Line 4 of the Form 990. Southern Pine Electric Cooperative has interpreted the words "patronage dividends paid" in the instructions to mean margins that are assigned or assignable to the members. Southern Pine Electric Cooperative assigns the net margins to its members each year. Therefore, the amount listed in Part IX, Line 4 represents the net margins assignable to the members for the calendar year. Form 990, Part XI, line 9: Change in Memberships -3,005. Net Margins Assigned to Members 6,123,759. Change in Other Comprehensive Income -336,960. Form 990, Part XII, Line 2c The filing organization did not change its processes of oversight or selection for the year. Southern Pine Electric Trust Inc PO Box 528 Brewton AL 36426 412040142 Provides Financial Assistance AL 501(c)(3) A community trust N/A 0 Southern Pine Services Inc PO Box 528 Brewton AL 36427 631245068 Propane Sales AL N/A C 1.00000 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 Southern Pine Electric Trust Inc R 85246 Cash-Operation Round Up