2024-10-29T09:22:32-05:00 2023-12-31 721396621 CARR RIGGS & INGRAM LLC 400 W PKWY PL SUITE 300 RIDGELAND MS 39157 990 2023-01-01 640367992 COOPERATIVE ENERGY COOP 6012682083 PO BOX 15849 HATTIESBURG MS 394045849 KEVIN R GRACE SR CHIEF FINANCIAL OFFICER 6012682083 2024-10-28 0 0 WILLIAM W IUPE P00073954 6018537050 2024-10-28 2023 2024-10-15 13:58:12Z JEFF BOWMAN PO BOX 15849 HATTIESBURG MS 394045849 1009490161 0 X WWW.COOPERATIVEENERGY.COM X 1941 MS PROVIDE AND TRANSMIT THROUGH GENERATION AND PURCHASE OF ELECTRICITY, WHOLESALE ELECTRICITY TO 11 MEMBER OWNED DISTRIBUTION COOPERATIVES, EACH SERVING RETAIL CONSUMERS. 24 24 568 0 0 0 0 0 955133468 1007193915 1517712 2296246 0 0 956651180 1009490161 871416 397275 20000000 20000000 65408546 74472805 0 0 0 870371218 914620081 956651180 1009490161 0 0 2189288268 2244889278 1734169456 1779770466 455118812 465118812 PROVIDE AND TRANSMIT THROUGH GENERATION AND PURCHASE OF ELECTRICITY, WHOLESALE ELECTRICITY TO 11 MEMBER OWNER COOPERATIVES, EACH SERVING RETAIL CONSUMERS. 0 0 PROVIDE AFFORDABLE AND RELIABLE ELECTRIC ENERGY TO MEMBER COOPERATIVES. THE 11 MEMBER COOPERATIVES PROVIDE SERVICE TO APPROXIMATELY 451,000 METERS IN MISSISSIPPI. COOPERATIVE ENERGY AND THE 11 MEMBER SYSTEMS ARE CONSUMER-OWNED, NON-PROFIT BUSINESSES. DURING 2023, COOPERATIVE ENERGY PROVIDED MEMBER SYSTEMS WITH 10,124,240 MWH OF ENERGY. 0 0 0 0 0 0 0 0 0 1 0 1 0 1 0 1 0 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 1 0 1 243 0 1 568 1 0 0 0 0 0 791121379 173460353 0 0 0 X 24 24 1 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 0 0 MS X KEVIN GRACE SR 6012682083 7037 HWY 49 N HATTIESBURG MS 39402 JEFF BOWMAN PRESIDENT/CEO 55.00 X 916889 0 213103 CHRISTA BISHOP SR VICE PRESIDENT/CCO 50.00 X 328916 0 114731 GARY HUTSON SR VICE PRESIDENT/COO 50.00 X 332568 0 108708 KEVIN GRACE SR. VICE PRESIDENT/ CFO 44.00 X 297797 0 93550 DON HINTON SR VICE PRESIDENT/CCO 45.00 X 296104 0 87812 MARK SMITH SR VICE PRESIDENT POWER GE 48.00 X 330138 0 165266 JAMES EVANS SR VICE PRESIDENT/POWER DE 45.00 X 255510 0 126234 BRANDON SANDERS PLANT SUPERINTENDENT 44.00 X 212064 0 64904 MARK DODD VP INFORMATION SYSTEMS 42.00 X 209882 0 93360 JEFF BROWN PLANT SUPERINTENDENT 50.00 X 205147 0 76755 RON BARNES DIRECTOR 2.91 X 33901 0 0 KEVIN BONDS DIRECTOR 3.14 X 32800 0 0 JOEL CUNNINGHAM DIRECTOR 2.46 X 34943 0 0 HOWARD DAVIS DIRECTOR 2.23 X 34693 0 0 RICHARD DOSSETT DIRECTOR 0.89 X 33903 0 0 TERI EATON DIRECTOR 2.62 X 33561 0 0 CARL FULLER DIRECTOR 3.08 X 17464 0 0 HARRY HOWARTH DIRECTOR 2.47 X 34488 0 0 BRIAN HUGHEY DIRECTOR 3.31 X 32400 0 0 KEITH HURT DIRECTOR 7.13 X X 34800 0 0 MICHAEL NEELY DIRECTOR 1.77 X 31200 0 0 DAVID O'BRYAN DIRECTOR 4.93 X 34142 0 0 TIM PERKINS DIRECTOR 3.93 X 32400 0 0 CHRIS RHODES DIRECTOR 1.41 X 34000 0 0 RANDY SMITH DIRECTOR 2.20 X 32800 0 0 ROBERT SMITH DIRECTOR 3.01 X 32274 0 0 SCOTT SMITH DIRECTOR 1.25 X 15269 0 0 DARRELL SMITH DIRECTOR 8.74 X X 41803 0 0 BRYAN THOMAS DIRECTOR 1.61 X 33644 0 0 LOUIS THOMPSON DIRECTOR 2.34 X 34981 0 0 RICHARD THOMS DIRECTOR 3.23 X X 33218 0 0 MIKE TYNER DIRECTOR 5.84 X 34532 0 0 MATTHEW WARE DIRECTOR 2.19 X 32000 0 0 DANNY WILKS DIRECTOR 3.26 X 32070 0 0 RANDY WOOLLEY DIRECTOR 2.31 X 33330 0 0 4195631 0 1144423 251 0 1 0 SIEMENS ENERGY 4400 ALAFAYA TRAIL ORLANDO FL 32826 PLANT MAINTENANCE SERVICES 50485854 GENERAL ELECTRIC INTERNATIONAL INC 4200 WILDWOOD PARKWAY ATLANTA GA 30339 PLANT MAINTENANCE SERVICES 16001595 STUART C IRBY CO 1314 WEST PINE STREET HATTIESBURG MS 39401 PLANT MAINTENANCE SERVICES 6144289 CHAIN ELECTRIC CO 1308 W PINE STREET HATTIESBURG MS 39401 ENGINEERING & CAP PROJ 3966492 BURNS AND MCDONNELL ENGINEERING CO INC 9400 WARD PKWY KANSAS CITY KS 64114 ENGINEERING & CAP PROJ 3690574 151 REVENUE FROM MEMBERS 221000 820313233 820313233 REVENUE FROM NON-MEMBERS 221000 186572749 186572749 PROGRAM RELATED INVESTMENTS 221000 307933 307933 1007193915 1890361 1890361 405885 0 405885 405885 405885 1009490161 1007599800 0 1890361 397275 20000000 5484263 46741245 10280157 7493141 4473999 480936 526889 454865 1957526 549473 3650318 3459479 1057140 45717776 95434142 5433356 PURCHASED POWER FOR RES 329756923 COAL, NAT GAS, NUCLEAR 282521819 GENERATION PLANT O&M 70299576 TRANSMISSION SYS. O&M 62735001 10584862 1009490161 23197164 14308713 53163624 61871345 90804908 80238972 56229435 61189874 196886661 187961060 2910715064 1206692573 1648616454 1704022491 119749054 134924280 640968 372543 2189288268 2244889278 132158800 117696554 1164001641 1124533933 180547215 312733222 257461800 224806757 1734169456 1779770466 X 0 0 0 0 455118812 465118812 455118812 465118812 2189288268 2244889278 X 0 10000000 X X 0 1 X 1 1 1 50724525 50724525 710729191 446041788 264687403 3617982 800941 2817041 1801501385 536260003 1265241382 344141981 223589841 120552140 1704022491 NUCLEAR DECOMMISSIONING TRUST 122547846 F INVESTMENT-FEDERAL ECONOMIC DEV FUNDS 1363426 C INVESTMENT-CAPITAL TERM CERTIFICATES 6223283 C INVESTMENT IN ASSOCIATED ORGANIZATIONS 1306654 C OTHER INVESTMENTS 3483071 C 134924280 ACCUM PROVISION FOR PENSIONS & BENEFITS 8561524 ASSET RETIREMENT OBLIGATIONS 125500597 CAPITAL LEASE - DISSOLVED 420620 DEF. CREDIT-POWER COST ADJUSTMENT 19506235 DEF.CREDIT-ECONOMIC DEVELOPMENT GRANTS 7237455 DEF. CREDIT-POWER SUPPLY DEVELOPMENT FUND 10230311 DEF. CREDIT-DEPR.&AMORTIZATION FUND 10000000 DEF.CREDIT-MEDICAL INSURANCE CONTRIBUTION ACCT 8333048 DEF. CREDIT - QUALITY OF LIFE FUND 18553 DEF. CREDIT - EMPLOYEE ASSISTANCE FUND 52650 UNREALIZED GAIN - DECOMMISSIONING TRUST 17947595 UNREALIZED GAIN- NATURAL GAS HEDGES 16436292 UNREALIZED GAIN - FINANCIAL TRANSMISSION RIGHTS 561877 224806757 1009490161 0 1009490161 0 1009490161 989490161 0 989490161 20000000 20000000 1009490161 PART XII, LINE 4B - OTHER ADJUSTMENTS: PART XII, LINE 4B - OTHER ADJUSTMENTS 20,000,000. PART XII, LINE 4B 2023 NET MARGIN OF $20,000,000 IS REFLECTED AS EXPENSE ON THE FORM 990 SINCE THE MARGIN IS ALLOCATED TO THE 11 MEMBERS AS PATRONAGE CAPITAL, THOUGH NO PAYMENT WAS MADE TO THE MEMBERS IN 2023 FOR THIS ALLOCATED PATRONAGE CAPITAL 1 UPLINK LLC 340 HOPSON STREET LYON MS 38645 455053447 S CORP 50000 0 ECONOMIC DEVELOPMENT ECO DEV AUTHORITY OF COAHOMA 102 3RD STREET CLARKSDALE MS 38614 203921327 GOVT 50000 0 ECONOMIC DEVELOPMENT PEARL RIVER COUNTY PO BOX 730 POPLARVILLE MS 39470 646000952 GOVT 10000 0 ECONOMIC DEVELOPMENT PEARL RIVER COUNTY PO BOX 1810 POPLARVILLE MS 39470 646000952 GOVT 25000 0 ECONOMIC DEVELOPMENT HARRISON CO DEV COMMISSION 12281 INTRAPLEX PKWY GULFPORT MS 39503 640775688 501(C)6 10000 0 ECONOMIC DEVELOPMENT DELTA COUNCIL 433 STONEVILLE ROAD LELAND MS 38756 640146125 501(C)6 50000 0 ECONOMIC DEVELOPMENT CLEVELAND-BOLIVAR CO CHAMBER 101 S BAYOU AVE CLEVELAND MS 38732 640291857 501(C)6 15000 0 ECONOMIC DEVELOPMENT EDA OF JONES CO 153 BASE DRIVE LAUREL MS 39440 640688690 GOVT 10000 0 ECONOMIC DEVELOPMENT EDA OF JONES CO 153 BASE DRIVE LAUREL MS 39440 640688690 GOVT 50000 0 ECONOMIC DEVELOPMENT AREA DEVELOPMENT PARTNERSHIP 1 CONVENTION CENTER PLAZA HATTIESBURG MS 39401 570884979 501(C)6 10000 0 ECONOMIC DEVELOPMENT PEARL RIVER COMMUNITY COLLEGE 101 US HWY 11 POPLARVILLE MS 39470 640750513 501(C)3 50000 0 ECONOMIC DEVELOPMENT GREENE COUNTY BOARD OF SUPERVISORS 413 GREENE AVENUE LEAKSVILLE MS 39451 646000390 GOVT 15000 0 ECONOMIC DEVELOPMENT JACKSON CO ECONOMIC DEVELOPMENT 3033 PASCAGOULA STREET PASCAGOULA MS 39567 640838516 501(C)3 26400 0 ECONOMIC DEVELOPMENT CLAIBORNE CO PORT COMMISSION 1510 MARKET STREET PORT GIBSON MS 39150 646000232 501(C)3 17500 0 ECONOMIC DEVELOPMENT PART I, LINE 2: THE COOPERATIVE ENERGY BOARD OF DIRECTORS EVALUATES REQUESTS, SUBSEQUENT TO SCREENING BY MEMBER SYSTEM BOARD OF DIRECTORS, FOR PROJECTS THAT WILL ENHANCE OR STIMULATE ECONOMIC GROWTH IN MEMBER SYSTEM AREAS. THE COOPERATIVE ENERGY BOARD APPROVES THESE REQUESTS PRIOR TO DISBURSEMENT. X X X 0 0 0 JEFF BOWMAN PRESIDENT/CEO 904543 0 7500 0 4846 0 185859 0 27244 0 1129992 0 0 0 CHRISTA BISHOP SR VICE PRESIDENT/CCO 313943 0 10324 0 4649 0 87545 0 27186 0 443647 0 0 0 GARY HUTSON SR VICE PRESIDENT/COO 318134 0 10723 0 3711 0 79410 0 29298 0 441276 0 0 0 KEVIN GRACE SR. VICE PRESIDENT/ CFO 282536 0 8087 0 7174 0 67031 0 26519 0 391347 0 0 0 DON HINTON SR VICE PRESIDENT/CCO 279267 0 8034 0 8803 0 60020 0 27792 0 383916 0 0 0 MARK SMITH SR VICE PRESIDENT POWER GE 315152 0 10323 0 4663 0 138870 0 26396 0 495404 0 0 0 JAMES EVANS SR VICE PRESIDENT/POWER DE 241666 0 7645 0 6199 0 101334 0 24900 0 381744 0 0 0 BRANDON SANDERS PLANT SUPERINTENDENT 196306 0 6413 0 9345 0 37584 0 27320 0 276968 0 0 0 MARK DODD VP INFORMATION SYSTEMS 192592 0 6255 0 11035 0 67112 0 26248 0 303242 0 0 0 JEFF BROWN PLANT SUPERINTENDENT 194233 0 5249 0 5665 0 48968 0 27787 0 281902 0 0 0 FORM 990, PART VI, SECTION A, LINE 2 THE BOARD OF DIRECTORS OF COOPERATIVE ENERGY CONSISTS OF 2 DIRECTORS FROM EACH OF THE 11 MEMBER NONPROFIT DISTRIBUTION COOPERATIVES THAT OWN COOPERATIVE ENERGY, PLUS 2 AT LARGE DIRECTORS WHO ALSO SERVE ON THE BOARD OF DIRECTORS OF THE MEMBER COOPERATIVE FOR A TOTAL OF 24 DIRECTORS. ELEVEN DIRECTORS SERVING ON COOPERATIVE ENERGY'S BOARD OF DIRECTORS ARE GENERAL MANAGER OF THE MEMBER COOPERATIVE. THUS THE GENERAL MANAGER AND DIRECTOR FROM EACH MEMBER COOPERATIVE HAVE A BUSINESS RELATIONSHIP WITH EACH OTHER WHILE SERVING AS DIRECTORS FOR COOPERATIVE ENERGY. FORM 990, PART VI, SECTION A, LINE 6 SEE RESPONSE TO PART VI SECTION A QUESTION 2 ABOVE. FORM 990, PART VI, SECTION A, LINE 7A SEE RESPONSE TO PART VI SECTION A QUESTION 2 ABOVE. FORM 990, PART VI, SECTION A, LINE 7B SEE RESPONSE TO PART VI SECTION A QUESTION 2 ABOVE. FORM 990, PART VI, SECTION B, LINE 11B A COPY OF THE 2023 FORM 990 WAS REVIEWED WITH THE BUDGET AND FINANCE COMMITTEE AND REPORTED TO THE BOARD OF DIRECTORS. ON THE BUDGET AND FINANCE COMMITTEE'S RECOMMENDATION, THE BOARD AUTHORIZED THE EXECUTION AND FILING THE RETURN. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST POLICY ENFORCEMENT - DIRECTORS, OFFICERS, AND KEY EMPLOYEES ANNUALLY COMPLETE, AND SIGN, A QUESTIONAIRE RELATIVE TO INDEPENDENCE, BUSINESS RELATIONSHIPS, ETC. DIRECTORS SHALL AVOID ACTUAL OR APPARENT CONFLICTS BETWEEN PERSONAL INTERESTS AND OFFICIAL RESPONSIBILITIES ON BEHALF OF COOPERATIVE ENERGY. A CONFLICT OCCURS WHEN A DIRECTOR OR FAMILY MEMBER HAS PRIVATE INTERESTS THAT INTERFERE WITH THE DIRECTOR'S RESPONSIBILITY TO ACT OBJECTIVELY AND EFFECTIVELY IN THE BEST INTEREST OF COOPERATIVE ENERGY. ANY DIRECTOR WHO BECOMES AWARE THAT THE CONDUCT OF OTHERS VIOLATES THIS CODE IS OBLIGATED TO REPORT THE VIOLATION TO THE GENERAL COUNSEL. FORM 990, PART VI, SECTION B, LINE 15A COOPERATIVE ENERGY UTILIZES VARIOUS DATA SOURCES AND ENGAGES AN EXTERNAL COMPENSATION CONSULTANT, WHO ALIGNS COMPENSATION MARKET TRENDS. THIS ENSURES THAT COOPERATIVE ENERGY'S WAGES REMAIN COMPETITIVE, FAIR, AND EQUITABLE. IN 2023, COOPERATIVE ENERGY PARTICIPATED IN MULTIPLE COMPENSATION SURVEYS TO GATHER COMPARABLE DATA ON COMPENSATION PRACTICES. THE SURVEY DATA AND POSITION VALUATION RANGES ESTABLISHED BY THE COMPENSATION CONSULTANT WERE THEN USED TO EVALUATE THE SALARIES OF THE CEO AND THE EXECUTIVE MANAGEMENT TEAM. THE CEO RECOMMENDED THE SALARIES FOR THE EXECUTIVE MANAGEMENT TEAM, WHICH WERE APPROVED BY THE BUDGET AND FINANCE COMMITTEE AND THE BOARD OF DIRECTORS. THE BOARD OF DIRECTORS ESTABLISHED THE CEO'S SALARY. FORM 990, PART VI, SECTION C, LINE 19 RECEPTIONISTS HAVE BEEN INFORMED THAT THE FORM 990 WILL BE MADE AVAILABLE. FINANCIAL STATEMENTS ARE AVAILABLE ON THE ORGANIZATION'S WEBSITE. FORM 990, PART XI, LINE 9: OTHER CHANGES IN NET ASSETS 10,000,000. FORM 990, PART XI, LINE 9 - OTHER CHANGE IN ASSET OR FUND BALANCE EXCESS OF REVENUES OVER EXPENSES, OR NET MARGIN OF $20,000,000, IS ALLOCATED TO THE 11 MEMBER COOPERATIVES BASED ON SALES. THIS IS ONLY AN ALLOCATION OF PATRONAGE CAPITAL. NO ACTUAL PAYMENT IS MADE TO THE MEMBERS. THIS ALLOCATION OF PATRONAGE CAPITAL IS SHOWN AS A FUNCTIONAL EXPENSE IN PART IX, NUMBER 4, PER FORM 990 INSTRUCTIONS EFFECTIVE FOR 2023 REPORTING. COOPERATIVE ENERGY DOES NOT INCLUDE THIS ALLOCATION OF PATRONAGE CAPITAL AS AN EXPENSE FOR FINANCIAL REPORTING. DURING 2023, PATRONAGE CAPITAL AMOUNTING TO $10,000,000 WAS RETIRED. FORM 990, PART XII, LINE 2C: THERE WERE NO CHANGES IN THE PROCESS FOR THE 2023 TAX YEAR. COOPERATIVE ENERGY GRAND GULF I DECOMMISSIONING TRUST PO BOX 1071 HATTIESBURG MS 39403 646195446 INVESTMENTS MS COOPERATIVE ENERGY T 1920340 122547846 1.00000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 COOPERATIVE ENERGY GRAND GULF 1 DECOMMISSIONING TRUST R 2400000 FMV