2024-11-14T10:07:19-06:00 2023-12-31 205857627 TMH P O DRAWER 15099 HATTIESBURG MS 394045099 990 2023-01-01 640219645 PEARL RIVER VALLEY ELECTRIC POWER ASSOCIATION PEAR 6017362666 POST OFFICE BOX 1217 COLUMBIA MS 394291217 MATTHEW WARE CEO/GENERAL MANAGER 6017362666 2024-11-11 1 1 SUSAN A RILEY CPA P00144776 6012643519 2024-11-11 2023 2024-10-15 13:58:12Z MATTHEW WARE POST OFFICE BOX 1217 COLUMBIA MS 394291217 149687943 0 X WWW.PRVEPA.COM X 1938 MS THE ASSOCIATION'S MISSION IS IMPROVING THE FUTURE FOR ALL OF OUR MEMBERS IN SOUTH MISSISSIPPI. THE FIRST STEP IS BRINGING SAFE AND DEPENDABLE ENERGY AT THE LOWEST POSSIBLE COST. 10 0 133 0 5134460 0 2146815 2576178 137408177 146898635 143923 90669 0 0 139698915 149565482 22200 33019 7363416 9766112 13213808 13322215 0 0 0 118868393 126797555 139467817 149918901 231098 -353419 322492209 387763546 188833259 248600904 133658950 139162642 THE ASSOCIATION'S MISSION IS IMPROVING THE FUTURE FOR ALL OF ITS MEMBERS IN SOUTH MISSISSIPPI. THE FIRST STEP IS BRINGING SAFE AND DEPENDABLE ENERGY AT THE LOWEST POSSIBLE COST. 0 0 140152789 141812479 PRVEPA PROVIDED ELECTRIC POWER TO 53,323 CONSUMERS DURING 2023. 140152789 0 1 0 0 0 0 0 0 0 1 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 1 0 0 0 0 0 0 1 0 0 0 1 27 0 1 133 1 1 1 0 0 0 0 0 0 141180425 8558460 0 0 0 X 10 0 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X MATTHEW WARE 6017362666 HIGHWAY 13 NORTH COLUMBIA MS 39429 WA KENDRICK SECRETARY/TREASURER 2.95 X X 25214 0 0 LAVELL BOND VICE PRESIDENT 6.56 X X 30165 0 0 BF HUDSON JR DIRECTOR 6.29 X 28074 0 0 HUGH GENE SMITH DIRECTOR 7.44 X 28461 0 0 DANNY WILKS PRESIDENT 10.65 X X 29563 0 0 LESLIE PETERS DIRECTOR 2.71 X 24073 0 0 JACK BRADSHAW DIRECTOR 4.19 X 26653 0 0 MATT THOMAS DIRECTOR 9.37 X 26768 0 0 DAVIS WINGO DIRECTOR 3.70 X 25159 0 0 JEFF TINNON DIRECTOR 4.00 X 26307 0 0 MATTHEW WARE CEO/GENERAL MANAGER 50.00 X 346748 0 56934 JODY THORNTON CHIEF FINANCIAL OFFICER 50.00 X 182595 0 24024 ERIK LAVINE MANAGER, ENGINEERING & OPE 50.00 X 193259 0 34633 ANTHONY HARRIS MANAGER, ECON DEV & COMM R 40.00 X 172805 0 33612 GEORGE CUTRER DISTRICT MANAGER 40.00 X 181160 0 33692 WILLIAM MCCRARY DISTRICT MANAGER 40.00 X 166228 0 32726 JAMES ARMSTRONG MANAGER, PURCHASING & FACI 40.00 X 170601 0 34327 JEFFREY SLOAN IT MANAGER 40.00 X 156377 0 24718 1840210 0 274666 52 0 1 0 ERVIN CABLE CONSTRUCTION LLC PO BOX 932157 ATLANTA GA 31193 FIBER CONSTRUCTION 23148561 LOOKS GREAT SERVICES 1501 HIGHWAY 13 NORTH COLUMBIA MS 39429 RIGHT OF WAY MAINT 7172849 CONEXON LLC 2001 GRAND BLVD STE 700 KANSAS CITY MO 64108 FIBER CONSTRUCTION 6521762 MDR CONSTRUCTION 621 E BAYLIS CHAPEL ROAD COLUMBIA MS 39429 CONSTRUCTION 6167994 ITG COMMUNICATIONS LLC 152 MOLLY WALTON DR HENDERSONVILLE TN 37075 FIBER INSTALLATION 3178607 10 2576178 2576178 ELECTRIC SALES 221000 135873740 135873740 TELECOM REVENUE 221000 5134460 5134460 PATRONAGE CREDITS 221000 4618480 4618480 COMMON USE POLE RENTAL 221000 1271955 1271955 146898635 42365 42365 170765 122461 48304 48304 48304 149565482 141812479 5134460 42365 33019 9766112 975551 5436035 2120769 4126461 663399 46688 144050 1082591 132913 10279577 8268891 UNRELATED BUSINESS INCO 65894 COST OF POWER 91243372 DISTRIBUTION- MAINTENAN 9075738 ADMINISTRATIVE & GENERA 2080882 4376959 149918901 591357 1246654 11378314 12670145 17257657 22984310 353407 337164 397507465 110233622 230523018 287273843 255485 62388456 62995945 322492209 387763546 17443411 18394158 900000 3000000 148873609 206069381 21616239 21137365 188833259 248600904 X 312710 310880 608062 608062 132738178 138243700 133658950 139162642 322492209 387763546 X -353419 5857111 X X 0 1 X 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 397507465 110233622 287273843 287273843 INVESTMENT IN ASSOCIATED ORGANIZATI 925376 OTHER INVESTMENTS 9712016 INTEREST & DIVIDEND INCOME RECEIVAB 648573 PATRONAGE CAPITAL 51709980 62995945 POST RETIREMENT BENEFITS 15990568 CONSUMER DEPOSITS 5146797 21137365 X 150129342 563860 563860 149565482 0 149565482 140152789 0 140152789 9766112 9766112 149918901 PART X, LINE 2: FASB ASC 740 CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN TAX POSITIONS AND THE RECOGNITION OF SUCH INCOME TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN THE ASSOCIATION'S INCOME TAX RETURNS. THE ASSOCIATION'S INCOME TAX RETURNS ARE SUBJECT TO EXAMINATION BY THE IRS, GENERALLY FOR THREE YEARS AFTER THEY WERE FILED. IN EVALUATING THEIR TAX POSITIONS, THE ASSOCIATION BELIEVES THEIR ESTIMATES ARE APPROPRIATE BASED ON CURRENT FACTS AND CIRCUMSTANCES AND THAT NO UNCERTAIN POSITIONS WERE TAKEN. PART XI, LINE 2D - OTHER ADJUSTMENTS: UNBILLED REVENUE 563,860. PART XII, LINE 4B - OTHER ADJUSTMENTS: MARGINS ASSIGNED 9,766,112. SCHEDULE D, PART XII,LINE 4B THE AMOUNT REPORTED ON FORM 990, PART IX, LINE 4 AS BENEFITS PAID TO OR FOR MEMBERS IS NOT REPORTED AS AN EXPENSE IN THE FINANCIAL STATEMENTS, SINCE GENERALLY ACCEPTED ACCOUNTING PRINCIPLES (GAAP) DOES NOT RECOGNIZE PATRONAGE DIVIDENDS PAID AS AN EXPENSE IN THE AMOUNT OF $9,766,112. SCHEDULE D, PART XI,LINE 2D PRVEPA RECOGNIZES UNBILLED REVENUE FOR FINANCIAL REPORTING. FOR TAX RETURN REPORTING OF PATRONAGE CAPITAL CREDIT ALLOCATIONS, AS WELL AS FOR REPORTING OF REVENUES, UNBILLED REVENUE IS DISREGARDED. FINANCIAL REPORTING WAS ADJUSTED FOR THE CHANGE IN UNBILLED REVENUE FROM 2022 TO 2023 IN THE AMOUNT OF $563,860. PATRONAGE CAPITAL REFLECTS THE CHANGE IN UNBILLED REVENUE. 0 ELECTRIC COOPERATIVES OF MISSISSIPPI FOUNDATION PO BOX 3300 RIDGELAND MS 39158 203033260 10800 0 CONTRIBUTE TOWARD SCHOLARSHIPS PROVIDED BY THE ORGANIZATION MISSISSIPPI GULF COAST COMMUNITY COLLEGE FOUNDATION INC 51 MAIN STREET PERKINSTON MS 39573 640588668 8000 0 CONTRIBUTE TOWARD SCHOLARSHIPS PROVIDED BY THE ORGANIZATION 2 X X 0 0 0 MATTHEW WARE CEO/GENERAL MANAGER 346748 0 0 0 0 0 40644 0 16290 0 403682 0 0 0 ERIK LAVINE MANAGER, ENGINEERING & OPE 193259 0 0 0 0 0 18265 0 16368 0 227892 0 0 0 GEORGE CUTRER DISTRICT MANAGER 181160 0 0 0 0 0 17324 0 16368 0 214852 0 0 0 JODY THORNTON CHIEF FINANCIAL OFFICER 182595 0 0 0 0 0 13879 0 10145 0 206619 0 0 0 ANTHONY HARRIS MANAGER, ECON DEV & COMM R 172805 0 0 0 0 0 17244 0 16368 0 206417 0 0 0 JAMES ARMSTRONG MANAGER, PURCHASING & FACI 170601 0 0 0 0 0 17959 0 16368 0 204928 0 0 0 WILLIAM MCCRARY DISTRICT MANAGER 166228 0 0 0 0 0 16358 0 16368 0 198954 0 0 0 JEFFREY SLOAN IT MANAGER 156377 0 0 0 0 0 12084 0 12634 0 181095 0 0 0 COOPERATIVE ENERGY DANNY WILKS, DIRECTOR, IS A BOARD MEMBER FOR COOPERATIVE ENERGY. 91243372 EXPENSE- THE ORGANIZATION PURCHASES ITS POWER FROM COOPERATIVE ENERGY 0 COOPERATIVE ENERGY DANNY WILKS, DIRECTOR, IS A BOARD MEMBER FOR COOPERATIVE ENERGY. 7719775 CURRENT LIABILITY- THE ORGANIZATION PURCHASES ITS POWER FROM COOPERATIVE ENERGY 0 COOPERATIVE ENERGY MATTHEW WARE, OFFICER, IS A BOARD MEMBER FOR COOPERATIVE ENERGY. 91243372 EXPENSE- THE ORGANIZATION PURCHASES ITS POWER FROM COOPERATIVE ENERGY 0 COOPERATIVE ENERGY MATTHEW WARE, OFFICER, IS A BOARD MEMBER FOR COOPERATIVE ENERGY. 7719775 CURRENT LIABILITY- THE ORGANIZATION PURCHASES ITS POWER FROM COOPERATIVE ENERGY 0 COOPERATIVE ENERGY LESLIE PETERS, DIRECTOR, IS A BOARD MEMBER FOR COOPERATIVE ENERGY. 91243372 EXPENSE- THE ORGANIZATION PURCHASES ITS POWER FROM COOPERATIVE ENERGY 0 COOPERATIVE ENERGY LESLIE PETERS, DIRECTOR, IS A BOARD MEMBER FOR COOPERATIVE ENERGY. 7719775 CURRENT LIABILITY- THE ORGANIZATION PURCHASES ITS POWER FROM COOPERATIVE ENERGY 0 FORM 990, PART VI, SECTION A, LINE 6 ANY NATURAL PERSON, FIRM ASSOCIATION, CORPORATION, BUSINESS TRUST, PARTNERSHIP OR BODY POLITIC SHALL BE ELIGIBLE TO BECOME A MEMBER OF, AND, AT ONE OR MORE PREMISES OWNED OR DIRECTLY OCCUPIED OR USED BY HIM, TO RECEIVE ELECTRIC SERVICE FROM PEARL RIVER VALLEY ELECTRIC POWER. FORM 990, PART VI, SECTION A, LINE 7A EACH MEMBER WHO IS NOT IN A STATUS OF SUSPENSION, AS PROVIDED FOR IN SECTION 2.01 OF THE ASSOCIATION'S BYLAWS, SHALL BE ENTITLED TO ONLY ONE VOTE UPON EACH MATTER SUBMITTED TO A VOTE AT ANY MEETING OF THE MEMBERS. AT EACH ANNUAL MEETING OF THE MEMBERS, DIRECTORS SHALL BE ELECTED BY SECRET BALLOT BY THE MEMBERS WHO ARE NATURAL PERSONS. FORM 990, PART VI, SECTION B, LINE 11B LINE 11A EXPLANATION - THE CHIEF FINANCIAL OFFICER PROVIDES THE INDEPENDENT AUDITORS WITH INFORMATION USED IN PREPARING THE FORM 990. THE COMPLETED FORM IS THEN REVIEWED BY THE CHIEF FINANCIAL OFFICER AND BY THE GENERAL MANAGER/CEO. THE GENERAL MANAGER/CEO THEN PRESENTS THE FORM 990 TO THE BOARD OF DIRECTORS FOR THEIR REVIEW. FORM 990, PART VI, SECTION B, LINE 12C A QUESTIONNAIRE IS SENT ANNUALLY TO ALL EMPLOYEES REQUESTING INFORMATION REGARDING POSSIBLE CONFLICTS OF INTEREST. THESE QUESTIONNAIRES ARE REVIEWED BY THE GENERAL MANAGER/CEO. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION OF THE GENERAL MANAGER/CEO IS DETERMINED BY USING COMPARABILITY DATA AND IS APPROVED BY THE BOARD OF DIRECTORS. THE COMPENSATION OF OTHER OFFICERS AND KEY EMPLOYEES IS DETERMINED USING COMPARABILITY DATA, IS INITITALLY APPROVED AND RECOMMENDED BY THE GENERAL MANAGER/CEO, AND IS THEN GIVEN FINAL APPROVAL BY THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC ON REQUEST. FORM 990, PART XI, LINE 9: PATRONAGE CAPITAL DIFFERENCE 6,118,323. DEFINED BENEFIT PLAN NET GAIN (LOSS) -1,105,762. CHANGE IN MEMBERSHIPS -1,830. INTEREST RATE SWAP NET GAIN (LOSS) 282,520. UNBILLED REVENUE 563,860. PART XII, LINE 2C PROCESS HAS NOT CHANGED FROM PRIOR YEAR. PEARL RIVER VALLEY COMMUNICATIONS LLC POST OFFICE BOX 989 COLUMBIA MS 39429 852692674 TELECOMMUNICATIONS MS 7710638 8457234 PEARL RIVER VALLEY ELECTRIC POWER ASSOCIATION