2024-11-14T14:25:27-06:00 2023-12-31 631035228 Jackson Thornton & Co PC PO Box 96 Montgomery AL 361010096 990 2023-01-01 640243969 Southern Pine Electric Cooperative SOUT 6017856511 PO Box 60 Taylorsville MS 391680060 Ryan R Robertson Chief Financial Officer 6017856511 2024-11-06 1 1 Patrick Cooper P00856177 3348347660 2024-11-06 2023 2024-10-15 13:58:12Z Southern Pine Electric Chris K Rhodes PO Box 60 Taylorsville MS 391680060 230719379 0 X www.southernpine.coop X 1938 MS The mission of Southern Pine Electric's Board of Directors and employees is to enhance the quality of life of our members and community by safely providing reliable electric energy at an affordable price. 13 13 270 0 0 0 0 0 220168482 228372951 -1541445 642092 1614812 1704336 220241849 230719379 0 0 7270194 14341736 1815750 1597820 0 0 0 211155905 214779823 220241849 230719379 0 0 497414310 533169918 187177129 214623717 310237181 318546201 The mission of Southern Pine Electric's Board of Directors and employees is to enhance the quality of life of our members and community by safely providing reliable electric energy at an affordable price. 0 0 Southern Pine Electric Cooperative is an electric distribution cooperative that provided service to approximately 70,323 meters in south central Mississippi. Utilizing its 10,708 miles of electric distribution lines, Southern Pine Electric sold 1,868,775,905 kilowatt hours of electric energy to its members. 0 0 0 0 0 0 0 0 0 1 0 1 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 142 0 1 270 1 0 0 0 0 0 0 0 223868527 5180971 0 0 0 X 13 13 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X Ryan Robertson 6017856511 13491 Hwy 28W Taylorsville MS 39168 Billy M Berry Chariman/Director 25.50 X X 51281 0 0 Mims W Berry Director 20.00 X 41989 0 0 Charles Lowe Director 19.60 X 54442 0 0 Blaine H Eaton Director 21.20 X 40609 0 0 Haskins Montgomery Secretary/Director 22.50 X X 45989 0 0 Billy Parish Director 19.90 X 41364 0 0 Greg Sullivan Director 19.30 X 56147 0 0 David Tadlock Director 11.60 X 24634 0 0 Richard Thoms Vice-Chairman/Director 21.60 X X 41563 0 0 Fountaine McNair Director 18.90 X 36240 0 0 Jeffery Sims Director 19.00 X 36422 0 0 Dean Kirby Director 17.10 X 32927 0 0 Staci L Rhodes Director 20.50 X 39414 0 0 Chris K Rhodes President / CEO 50.00 X 369246 0 146576 Ryan R Robertson Chief Financial Officer 45.00 X 212168 0 25712 Jim Jordan VP of Engineering 50.00 X 217996 0 83103 John Joseph Hardin Director of Plant and Faci 45.00 X 165021 0 64493 Robert Chad Lewis VP of Operations 50.00 X 223130 0 49327 Ollen D McAlpin VP of Administration 45.00 X 206633 0 29243 Jennifer W Collins VP of Communications & Gov 50.00 X 183085 0 55053 James Keith King Director of Supply Chain 40.00 X 150941 0 56010 2271241 0 509517 58 0 1 0 Asplundh Tree Expert Co 708 Blair Mill Rd Willow Grove PA 19090 Right of Way Maintenance 1975368 WA Kendall and Company Inc PO Box 831 Lawrenceville GA 30046 Right of Way Maintenance 1970195 Bush Construction PO Box 8337 Laurel MS 39441 Right of Way Maintenance 1432274 Delta Tree Service PO Box 587 Flora MS 39071 Right of Way Maintenance 1298490 B&B Electrical and Utility PO Box 1099 Canton MS 39046 Overhead Power Line Construction 1098554 27 Sale of Electricity 221000 223868527 223868527 Capital Credits 221000 4504424 4504424 228372951 415714 415714 1669881 0 1669881 1669881 1669881 226378 0 226378 226378 226378 Rebates 221000 19783 19783 Miscellaneous Revenue 221000 14672 14672 34455 230719379 228407406 0 2311973 X 14341736 1597820 5181520 16062796 Cost of Power 151625884 Dist Exp - Maintenance 19930532 Administrative & Genera 10503828 Consumer Accounts Expen 5319955 6155308 230719379 4923786 10265508 6009000 15009000 23761010 28743091 2673010 2286678 8829440 9044092 1103885 1199632 539023272 173592323 348708184 365430949 101405995 101190968 497414310 533169918 26224847 28088063 2000000 3500000 152046800 176347262 6905482 6688392 187177129 214623717 X 356217 359752 736158 736158 309144806 317450291 310237181 318546201 497414310 533169918 X 0 8309020 X 0 1 X 1 0 2464143 2464143 536559129 173592323 362966806 365430949 Patronage Capital from Associated Cooperatives 98852019 C Capital Term Certificates 2336949 C Membership Fee - CFC 1000 C CoBank Stock 1000 C 101190968 Customer deposits 6688392 6688392 X 230559246 0 230559246 160133 160133 230719379 216217510 -160133 -160133 216377643 14341736 14341736 230719379 Part X, Line 2: Income taxes - The Cooperative is exempt from income taxes under Internal Revenue Code Section 501(c)(12). Management has evaluated the Cooperative's tax positions and concluded that the Cooperative has taken no uncertain tax positions that require adjustment to the financial statements. Part XI, Line 4b - Other Adjustments: Reclassification of revenue/expense items from F/S 160,133. Part XII, Line 2d - Other Adjustments: Reclassification of revenue/expense items from F/S -160,133. Part XII, Line 4b - Other Adjustments: Margins Assigned to Members 14,341,736. X X X X 0 0 0 Chris K Rhodes President / CEO 362356 0 0 0 6890 0 127492 0 19084 0 515822 0 0 0 Jim Jordan VP of Engineering 213044 0 0 0 4952 0 66963 0 16140 0 301099 0 0 0 Robert Chad Lewis VP of Operations 216838 0 0 0 6292 0 36215 0 13112 0 272457 0 0 0 Jennifer W Collins VP of Communications & Gov 178812 0 0 0 4273 0 46518 0 8535 0 238138 0 0 0 Ryan R Robertson Chief Financial Officer 197774 0 0 0 14394 0 16271 0 9441 0 237880 0 0 0 Ollen D McAlpin VP of Administration 198671 0 0 0 7962 0 13846 0 15397 0 235876 0 0 0 John Joseph Hardin Director of Plant and Faci 164027 0 0 0 994 0 49923 0 14570 0 229514 0 0 0 James Keith King Director of Supply Chain 147569 0 0 0 3372 0 45723 0 10287 0 206951 0 0 0 Form 990, Part VI, Section A, line 6 Southern Pine Electric Cooperative is a not-for-profit membership organization whose members have identical voting rights and are assigned margins in accordance with the organization's bylaws. Form 990, Part VI, Section A, line 7a Each member is entitled to cast one vote in the election of board members. Form 990, Part VI, Section A, line 7b Cooperative members must approve any disposition of assets in an amount greater than ten percent (10%) of the value of the cooperative and any other items described in the bylaws. Form 990, Part VI, Section B, line 11b The Chief Financial Officer and Senior Financial Reporting Accountant reviewed the completed copy of the Form 990. The Form 990 was then presented to and reviewed with the CEO and board of directors at a board meeting prior to filing the form with the Internal Revenue Service. Form 990, Part VI, Section B, line 12c The President/CEO reviews the conflict of interest policy with the Board of Directors annually to ensure compliance. Form 990, Part VI, Section B, line 15 The compensation of the President/CEO is determined annually by the Board of Directors using compensation studies prepared by independent consultants. The President/CEO determines the compensation of other employees utilizing the same studies as above. Form 990, Part VI, Section C, line 19 Any and all documents, policies, and other records are made available to the public upon request during normal business hours at the headquarters office of the cooperative. The member bylaws and rate schedules are available online at southernpine.coop. 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. The Cooperative has interpreted the words "patronage dividends paid" in the instructions to mean margins that are assigned or assignable to the members. The 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 members for the calendar year. Form 990, Part XI, line 9: Changes in Memberships 3,535. Retirement of Capital Credits -6,948,512. Gain on Capital Credits 912,261. Margins Assigned/Assignable to Members 14,341,736.