2023-03-23T18:16:36-04:00 2022-12-31 853667394 CORBIN & BIGGS PLLC 385-B HIGHLAND COLONY PARKWAY SUIT RIDGELAND MS 39157 990 2022-01-01 640244325 SOUTHWEST MISSISSIPPI ELECTRIC POWER ASSOCIATION SOUT 6014373611 PO BOX 5 LORMAN MS 39096 KEVIN BONDS GENERAL MANAGER 6014373611 2023-03-22 true KEVIN BONDS 999009999 false GEORGE M BIGGS JR P00912499 6019572001 2023-03-22 2022 2023-04-26 12:10:37Z KEVIN BONDS PO BOX 5 LORMAN MS 39096 62434062 false X WWW.SOUTHWESTELECTRIC.COOP X 1937 MS MEMBER OWNED ELECTRIC COOPERATIVE. 10 10 100 0 0 56856213 60964033 130060 125126 1260087 1344903 58246360 62434062 0 3898103 3998665 528466 550819 0 0 53819791 57884578 58246360 62434062 0 128334466 131108590 64258336 63716276 64076130 67392314 MEMBER OWNED ELECTRIC COOPERATIVE. false false DISTRIBUTION OF ELECTRIC POWER TO MEMBERS. false false false false false false false false false true false false true true true true false false false false false false false false false false false false true false false false false false false false false false false false false false false true 55 0 true 100 true false false false false false 60294152 1470029 false false false X 10 10 false false false false true true true true true false false true true true true true true true false false X VIRGIL SCOTT 8002878564 18671 HIGHWAY 61 SOUTH LORMAN MS 39090 KEVIN BONDS GENERAL MANA 40.00 X 269944 0 65604 WILLIAM NEWELL CREW LEADER 40.00 X 145418 0 35428 ERNIE ORCUTT SERVICEMAN 40.00 X 148405 0 26522 DARRYL HASSELL MGR OF ENGIN 40.00 X 132237 0 39190 KEVIN COTTEN MGR. OF OPER 40.00 X 117800 0 42365 ALEX GANDY CREW LEADER 40.00 X 116627 0 36481 VIRGIL SCOTT CFO 40.00 X 117859 0 26761 STANLEY RUCKER PRESIDENT 5.00 X X 11400 0 277 BETSY MOSBY SECRETARY 4.50 X X 7800 0 326 RANDY WOOLEY VICE PRESIDE 4.50 X X 7800 0 326 JOHN BRADY ASSIST SECRE 4.00 X X 6900 0 326 JAMES A VENTRESS DIRECTOR 4.00 X 6900 0 146 EDWARD EDWARDS DIRECTOR 3.00 X 5500 0 326 JOHN HILBERT DIRECTOR 3.00 X 5500 0 326 ROBERT JONES DIRECTOR 3.00 X 5500 0 326 JAMES P MULLINS-RESIGNED 1222 DIRECTOR 3.00 X 5000 0 146 CALLIE JOHNSON-RESIGNED 822 DIRECTOR 3.00 X 3500 0 217 DIANE DAVUAL-BEGAN 822 DIRECTOR 3.00 X 2000 0 109 1116090 275202 14 false true false DELTA TREE SERVICE 5717 MEDGAR EVERS BLVD JACKSON MS 39213 RIGHT OF WAY 1655968 KILLEN CONTRACTORS INC PO BOX 786 BRANDON MS 39042 CONSTRUCTION 1024444 SCOTT JOHNSON SPECIALITY SERVICES 971 INDUSTRIAL PARK RD NE BROOKHAVEN MS 39601 R.O.W. 834981 SOUTHERN TREE SERVICE PO BOX 711 MEADVILLE MS 39653 RIGHT OF WAY 205139 OSMOSE UTILITIES SERVICES INC PO BOX 117284 ATLANTA GA 30368 193320 7 OPERATING REVENUES-MEMBER 60294152 60294152 QUALIFIED POLE RENTAL INCOME 669881 669881 60964033 125126 125126 PATRONAGE CAPITAL 1249391 1249391 OTHER MEMBER INCOME 95512 95512 1344903 62434062 61639055 795007 3998665 550819 24000 30543 32713 179134 14423 85710 2230023 3643603 COST OF POWER 38692957 DISTRIBUTION - MAINTENANC 7364244 DISTRIBUTION - OPERATIONS 2529425 CONSUMER ACCOUNTS 1627868 1429935 62434062 0 0 0 2036989 3340297 3247051 3290814 946187 1204289 1320537 306194 130948008 38354395 91217044 92593613 29566658 30373383 128334466 131108590 7849921 8909755 54590396 53375013 1818019 1431508 64258336 63716276 X 102015 101450 63974115 67290864 64076130 67392314 128334466 131108590 X 0 3316184 X false true X true true true 130948008 38354395 92593613 92593613 PATRONAGE CAPITAL 26072884 UNBILLED REVENUE 2520212 DEFERRED CHARGES 922083 REDLEG NOTES RECEIVABLE 842580 INTEREST RECEIVABLE 15624 30373383 UNFUNDED DEFINED BENEFIT PLAN OBL. 1431508 1431508 X 62434062 62434062 62434062 58435397 58435397 3998665 3998665 62434062 SCHEDULE D, PAGE 3, PART X -SWMEPA IS EXEMPT FROM INCOME TAX UNDER SECTION 501(C)(12) OF THE INTERNAL REVENUE CODE AND IS ALSO EXEMPT FROM STATE INCOME TAX. ACCOUNTING RULES PRESCRIBE WHEN TO RECOGNIZE AND HOW TO MEASURE THE FINANCIAL STATEMENT EFFECT, IF ANY, OF INCOME TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN ON INCOME TAX RETURNS INCLUDING THE POSITION THAT THE ASSOCIATION WILL CONTINUE TO QUALIFY AS A TAX EXEMPT ORGANIZATION. MANAGEMENT EVALUATES THE LIKELIHOOD THAT, UPON EXAMINATION BY RELEVANT TAXING JURISDICTIONS, THOSE INCOME TAX POSITIONS WOULD BE SUSTAINED. BASED ON THAT EVALUATION, IF IT WERE MORE THAN 50% PROBABLE THAT A MATERIAL AMOUNT OF INCOME TAX WOULD BE IMPOSED ON THE ASSOCIATION UPON EXAMINATION BY THE RELEVANT TAXING AUTHORITIES, A LIABILITY WOULD BE RECOGNIZED IN THE STATEMENTS OF FINANCIAL POSITION ALONG WITH ANY INTEREST AND PENALTIES THAT WOULD RESULT FROM THAT ASSESSMENT. SHOULD ANY PENALTIES AND INTEREST BE INCURRED, THE ASSOCIATION'S POLICY WOULD BE TO RECOGNIZE THEM AS OPERATING EXPENSES. BASED ON MANAGEMENT'S EVALUATION, NO LIABILITIES OR PENALTIES AND INTEREST WERE REQUIRED TO BE RECORDED FOR UNCERTAIN TAX POSITIONS. YEARS THAT REMAIN SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE AND THE STATE OF MISSISSIPPI AS OF DECEMBER 31, 2022 WERE 2020-2022. SCHEDULE D, PAGE 4, PART XII, LINE 4B PATRONAGE CAPITAL ALLOCATED TO MEMBERS 3,998,665 X false false false KEVIN BONDS GENERAL MANAGER 269944 41642 23962 335548 WILLIAM NEWELL CREW LEADER 145418 13410 22018 180846 ERNIE ORCUTT SERVICEMAN 148405 12194 14328 174927 DARRYL HASSELL MGR OF ENGINEER 132237 21217 17973 171427 KEVIN COTTEN MGR. OF OPERATIONS 117800 19722 22643 160165 ALEX GANDY CREW LEADER 116627 13966 22515 153108 FORM 990, PAGE 6, PART VI, LINE 6 YES FORM 990, PAGE 6, PART VI, LINE 7A BOARD IS ELECTED BY MEMBERS. FORM 990, PAGE 6, PART VI, LINE 7B MEMBERS RATIFY THE ACTIONS OF THE BOARD OF DIRECTORS AT THE ANNUAL MEETING EACH YEAR. FORM 990, PAGE 6, PART VI, LINE 11B THE 990 IS REVIEWED BY THE GENERAL MANAGER AND MANAGER OF ACCOUNTING/FINANCE PRIOR TO FILING. A FULL COPY OF THE 990 IS PRESENTED TO THE BOARD PRIOR TO FILING. FORM 990, PAGE 6, PART VI, LINE 12C ANNUALLY THE BOARD IS ASKED TO DISCLOSE INTERESTS THAT MIGHT GIVE RISE TO CONFLICTS. A FORM IS GIVEN TO EACH BOARD MEMBER TO FACILITATE THIS PROCESS AND DOCUMENT CONFLICTS, IF ANY. FORM 990, PAGE 6, PART VI, LINE 15A APPROVED BY BOARD OF DIRECTORS ANNUALLY. FORM 990, PAGE 6, PART VI, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AVAIALBLE TO MEMBERS UPON REQUEST. FORM 990, PART XI PART IX , LINE 4- AMOUNTS ENTERED REPRESENT CAPITAL CREDITS ALLOCATED TO MEMBERS FOR 2022, NOT CAPITAL CREDITS RETIRED. THE ACTUAL RETIREMENT AMOUNT LESS DISCOUNTS WAS 1,625,360. PART IX, SALARIES, BENEFITS, AND PAYROLL TAXES- THE ORGANIZATION IS REQUIRED TO FOLLOW REGULATED ACCOUNTING PROCEDURES PRESCRIBED BY THE RURAL UTILITIES SERVICES. COMPENSATION IS ALLOCATED TO PLANT AND EXPENSES. COMPENSATION FOR OFFICERS AND HCE'S HAVE BEEN PRESENTED. ALL OTHER COMPENSATION HAS BEEN PRESENTED IN CATEGORIES WHERE IT WAS ALLOCATED UNDER THE ABOVE REGULATIONS. FORM 990, PART XI, LINE 9 AMORTIZATION OF ACTUARIAL LOSS -17,311 UNCLAIMED CAPITAL CREDITS 548,896 CAPITAL CREDIT DISCOUNTS 226,358 AMORTIZATION-PRIOR SERVICE COST 33,600 CAPITAL CREDITS ALLOCATED 3,998,665 DECRESE IN MEMBERSHIPS -610 ACTUARIAL GAIN ARISING DURING YEAR 378,304 CAPITAL CREDITS RETIRED -1,851,718 TOTAL 3,316,184