2023-09-05T13:47:33-04:00 2022-12-31 581094351 MCNAIR MCLEMORE MIDDLEBROOKS & CO LLC POST OFFICE BOX ONE MACON GA 312020001 990 2022-01-01 580198155 COBB ELECTRIC MEMBERSHIP CORP COBB 7704292100 PO BOX 369 MARIETTA GA 300610369 MICHELLE FORTNER CFO 6783553005 2023-09-05 true MICHELLE FORTNER 999009999 false WILLIAM R ROUNTREE P01231836 4787466277 2023-09-05 2022 2023-04-26 12:10:37Z ATTN MICHELLE FORTNER CFO KEVAN ESPY 1000 EMC PARKWAY MARIETTA GA 30060 472050608 false X HTTPS://WWW.COBBEMC.COM X 1938 GA OUR MISSION: RELIABLE, SAFE ELECTRICITY, RATE COMPETITIVE, ROBUST GOVERNANCE, RELEVANT SERVICES, RECOGNIZED EMPLOYER 9 9 428 14500 13500 0 447194304 469291139 1337413 1274046 117122 1485423 448648839 472050608 0 6230468 0 1744265 1240838 0 0 429459600 458600444 437434333 459841282 11214506 12209326 1101529853 1177341705 533885012 501611395 567644841 675730310 RELIABLE, SAFE ELECTRICITY, RATE COMPETITIVE, ROBUST GOVERNANCE, RELEVANT SERVICES, RECOGNIZED EMPLOYER false false N/A false false false false false false false false false true false true true true false false true false false false false false false false false false false false true false false false false false false false false false false true true true true false true 165 0 true 428 true true true false false false false 457674221 67329559 false false false X 9 9 false false true false true true true true true false false true true true true true true true true false GA X MICHELLE FORTNER CFO 7704292100 1000 EMC PARKWAY MARIETTA GA 30060 X DAVID V TENNANT CHAIRMAN 10.00 5.00 X X 45610 14400 0 RUDY R UNDERWOOD VICE CHAIRMA 7.00 5.00 X X 32187 13800 0 WILLIAM C SHARP III SECRETARY/TR 10.00 5.00 X X 33229 14400 0 KELLY P BODNER DIRECTOR 7.00 X 37687 0 0 ERIC BROADWELL DIRECTOR 7.00 X 45733 0 0 DAVID MCCLELLAN DIRECTOR 7.00 X 33625 0 0 EDWARD CROWELL DIRECTOR 10.00 5.00 X 47674 13200 0 BRYAN BOYD DIRECTOR 10.00 5.00 X 59707 13800 0 CHARLES M SWANSON DIRECTOR 7.00 X 49747 0 0 KEVAN ESPY PRESIDENT & 50.00 X 627988 0 227651 TIM SOSEBEE SR VP-BUSINE 50.00 X 359728 0 179323 TIMOTHY HARSHBARGER VP HUMAN RES 50.00 X 337254 0 41405 TIM JARRELL VP-POWER SUP 50.00 X 318985 0 156840 KELSIE DANIELS VP-INFO. TEC 50.00 X 301952 0 75935 BRETT STOVERN CFO-FORMER 50.00 X 645968 0 115514 2977074 69600 796668 195 false true false PIKE ELECTRIC INC 100 PIKE WAY MOUNT AIRY NC 27030 OUTSIDE SRV 12175791 LEWIS TREE SERVICE INC 300 LUCIUS GORDON DR NEW YORK NY 14586 OUTSIDE SRV 4502099 POWERGRID SERVICES LLC 2350 HWY 31 NW HARTSELLE AL 35640 OUTSIDE SRV 2587565 CHOATE CONSTRUCTION CO 8200 ROBERTS DRIVE SUITE 600 ATLANTA GA 30350 OUTSIDE SRV 2250868 WA KENDALL COMPANY LLC 400 FARMER CT LAWRENCEVILLE GA 30046 OURSIDE SRV 2229075 37 ELECTRIC REVENUE 221000 456283598 456283598 PATRONAGE CAPITAL CREDITS 221000 9484464 9484464 POLE AND OTHER ATTACHMENTS 3523077 3523077 469291139 1274046 1274046 940544 940544 75991 14500 75991 14500 90491 14500 75991 OTHER REVENUE 454388 454388 454388 472050608 468437040 14500 3599068 1240838 17566893 33294568 PURCHASED POWER 339375164 ADMIN. & GENERAL EXP. 22490501 DISTRIBUTION MAINTENANCE 19256292 CONSUMER ACCOUNTS 13706571 12910455 459841282 0 0 0 532250 1181320 60496973 64314190 7098846 6828895 5174171 7034023 2464286 1455551 1041956910 313174766 696895431 728782144 226416217 233398552 102451679 134347030 1101529853 1177341705 52531689 59674180 405646254 373054750 250000 4700000 75457069 64182465 533885012 501611395 X 396550 379295 567248291 675351015 567644841 675730310 1101529853 1177341705 X 12209326 95876143 X false true X true false 9621002 9621002 1032335908 313174766 719161142 728782144 INVESTMENT IN ASSOC. - OPC 134919391 C INVESTMENT IN ASSOC.- NRUCFC 45328767 C INVESTMENT IN ASSOC. - GTC 40890529 C INVESTMENTS IN ASSOC. - SEWELL CK 5783074 C INVESTMENTS IN ASSOC. - SMARR 2598992 C INVESTMENT IN ASSOC.- GRESCO 1909823 C INVESTMENTS IN ASSOC. - FEDERATED 1001544 C INVESTMENT IN ASSOC.- COBANK 446929 C INVESTMENT IN ASSOC.- NISC 372154 C INVESTMENT IN ASSOC.- SEDC 68274 C INVESTMENT IN ASSOC. - NRTC 35895 C INVESTMENTS IN ASSOC. - GSOC 32199 C INVESTMENTS IN ASSOC. - CRC 10621 C INVESTMENTS IN ASSOC. - OTHER 360 C 233398552 INVESTMENTS IN SUBS 129841232 DEFERRED COMPENSATION 2464613 OTHER 2041185 134347030 REGULATORY LIABILITIES 42321609 CONSUMER DEPOSITS 14629021 OTHER DEFERRED CREDITS 4745148 DEFERRED COMPENSATION 2486687 64182465 478050608 6000000 6000000 472050608 472050608 459841282 459841282 459841282 SCHEDULE D, PAGE 4, PART XI, LINE 2D ASC 980 DEFERRED ELECTRIC REVENUE TRANSACTIONS 6,000,000 SCHEDULE D, PAGE 4, PART XIII SCHEDULE D, PART XI, LINE 4B: IN 2022, THE CORPORATION HAD NET REVENUE RECOGNITION UNDER ASC 980 OF 6,000,000. THE CORPORATION'S DEFERRED REVENUE PLAN IS APPROVED BY THE BOARD OF DIRECTORS, IN THEIR RATE-MAKING CAPACITY, AND ADHERE TO THE RELEVANT PROVISIONS OF U.S. GAAP FOR REGULATED ENTITIES. FORM 990 DOES NOT RECOGNIZE ASC 980. X true true X X X X X false true false KEVAN ESPY PRESIDENT & CEO 492470 121166 14352 218573 9078 855639 TIM SOSEBEE SR VP-BUSINESS OPS 283277 64198 12253 154913 24410 539051 TIMOTHY HARSHBARGER VP HUMAN RESOURCES 233046 55537 48671 24303 17102 378659 36454 TIM JARRELL VP-POWER SUPPLY 225466 51738 41781 131833 25007 475825 KELSIE DANIELS VP-INFO. TECH. 238456 53110 10386 57371 18564 377887 BRETT STOVERN CFO-FORMER 392947 107417 145604 91104 24410 761482 SCHEDULE J, PAGE 1, PART I, LINE 1A MARIETTA COUNTRY CLUB: KEVAN ESPY (PRESIDENT & CEO) - 25,000 (INITIATION FEE), 7,853 (DUES) SCHEDULE J, PAGE 1, PART I, LINE 4 TIMOTHY HARSHBARGER 0 36,454 0 SCHEDULE J, PART III COBB EMC HAS A NONQUALIFIED DEFERRED COMPENSATION PLAN UNDER IRC SECTION 457(F) THAT PROVIDES BENEFITS FOR A SELECT GROUP OF KEY MANAGEMENT OR HIGHLY COMPENSATED EMPLOYEES. THE PLAN WAS ADOPTED TO RETAIN AND REWARD LONG SERVICE PERSONNEL AND TO ATTRACT AND RETAIN MANAGEMENT EMPLOYEES. THE NONQUALIFIED AMOUNT ABOVE WAS PAID OUT IN 2022 AND IS INCLUDED IN THE PARTICIPANT'S W-2 COMPENSATION. THE AMOUNT IS A COMPONENT OF "OTHER REPORTABLE COMPENSATION" ON SCHEDULE J. THE FOLLOWING AMOUNTS ARE THE 2022 EMPLOYER CONTRIBUTIONS TO THE NONQUALIFIED PLAN THAT ARE NOT INCLUDED IN EACH EMPLOYEES' W-2, BUT ARE INCLUDED SCHEDULE J, COLUMN C: KEVAN ESPY - 14,876 BRETT STOVERN - 60,604 TIM SOSEBEE - 8,815 TIM JARRELL - 36,678 FORM 990 THE CORPORATION'S RECORDS ARE MAINTAINED IN ACCORDANCE WITH THE UNIFORM SYSTEM OF ACCOUNTS PRESCRIBED BY THE FEDERAL ENERGY REGULATORY COMMISSION (18CFR.PART 101). THOSE PRACTICES UTILIZE ALLOCATION OF CERTAIN EXPENSES BASED ON LABOR CHARGES OR OTHER ALLOCATION BASES. AS A RESULT, IT WOULD REQUIRE SIGNIFICANT EFFORT TO BREAK OUT EXPENSES IN THE FUNCTIONAL CATEGORIES PROVIDED FOR ON THE STATEMENT OF FUNCTIONAL EXPENSES. MANAGEMENT HAS OPTED TO CLASSIFY ITS EXPENSES ON THE STATEMENT OF FUNCTIONAL EXPENSES IN THE SAME MANNER IT REPORTS ITS FINANCIAL RESULTS TO LENDERS AND ITS MEMBER-OWNERS. FORM 990, PAGE 6, PART VI, LINE 4 THE BOARD OF DIRECTORS APPROVED REVISIONS TO THE BYLAWS EFFECTIVE JUNE 28, 2022. THE REVISIONS WERE TO PROVIDE CLARIFICATIONS AND WORDING CHANGES. A COPY OF THE AMENDED BYLAWS IS ATTACHED TO THIS RETURN. FORM 990, PAGE 6, PART VI, LINE 6 THE CORPORATION HAS MEMBERS AS PROVIDED FOR IN ITS BYLAWS WHICH ARE INCLUDED AS A PART OF THIS RETURN. FORM 990, PAGE 6, PART VI, LINE 7A THE CORPORATION'S MEMBERS DEMOCRATICALLY ELECT MEMBERS OF THE GOVERNING BODY AS PROVIDED FOR IN THE CORPORATION'S BYLAWS WHICH ARE INCLUDED AS PART OF THIS RETURN. FORM 990, PAGE 6, PART VI, LINE 7B CERTAIN DECISIONS OF THE GOVERNING BODY ARE SUBJECT TO APPROVAL BY MEMBERS AS PROVIDED FOR IN THE CORPORATION'S BYLAWS WHICH ARE INCLUDED AS A PART OF THIS RETURN. FORM 990, PAGE 6, PART VI, LINE 11B FORM 990 IS REVIEWED BY THE FULL BOARD OF DIRECTORS PRIOR TO SUBMITTAL. FORM 990, PAGE 6, PART VI, LINE 12C THE CORPORATION REGULARY AND CONSISTENTLY MONITORS AND ENFORCES COMPLIANCE WITH THE FOLLOWING POLICIES, WHICH ARE INCLUDED AS PART OF THIS RETURN: POLICY 602 - CONFLICT OF INTEREST POLICY 901 - EMPLOYEE CODE OF CONDUCT POLICY 911 - EMPLOYEES' OUTSIDE ACTIVITIES FORM 990, PAGE 6, PART VI, LINE 15A AS OUTLINED IN BOARD POLICY 608, WHICH IS ATTACHED TO THIS RETURN, THE ANNUAL CEO REVIEW IS CONDUCTED BY THE BOARD'S HUMAN RESOURCES COMMITTEE, WHICH MAKES A COMPENSATION RECOMMENDATION TO THE FULL BOARD FOR THEIR APPROVAL. FORM 990, PAGE 6, PART VI, LINE 15B KEY EMPLOYEE COMPENSATION IS REVIEWED AND APPROVED AS PROVIDED FOR IN BOARD POLICY 908, A COPY OF WHICH IS INCLUDED AS A PART OF THIS RETURN. FORM 990, PAGE 6, PART VI, LINE 19 THE CORPORATION MAKES ITS BYLAWS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC AS PART OF ITS FORM 990. THE FORM 990 IS AVAILABLE UPON REQUEST AS REFLECTED IN PART VI SECTION C LINE 18. THE CORPORATION'S ANNUAL REPORT IS AVAILABLE ON IT'S WEBSITE. AUDITED FINANCIAL STATEMENTS AND OTHER FINANCIAL INFORMATION IS AVAILABLE TO THE CORPORATION'S MEMBERS THROUGH THE MEMBER PORTAL. FORM 990, PART XI, LINE 9 WHOLLY-OWNED SUBSIDIARY EARNINGS 89,852,701 CHANGE IN DONATED CAPITAL 41,035 ASC 980 DEFERRED ELECTRIC REVENUE TRANSACTIONS 6,000,000 CHANGE IN MEMBERSHIP FEES -17,255 OTHER -338 TOTAL 95,876,143 FIBER SOUTH LLC FIBER SOUTH LLC 1000 EMC PARKWAY 1000 EMC PARKWAY MARIETTA GA 30061 845178162 GA COBB EMC COBB EMC GAS SOUTH LLC PO BOX 4298 ATLANTA GA 30302 203608242 NAT GAS MA GA N/A true COBB ENERGY MANAGEMENT CORPORATION 1000 EMC PARKWAY MARIETTA GA 30060 582345061 HOLDING CO GA N/A true true false false true false true false false false false false true true false false false true false false GAS SOUTH LLC A 1237415 FMV GAS SOUTH LLC D 1289150 FMV GAS SOUTH LLC F 58208344 COST GAS SOUTH LLC L 1959988 COST GAS SOUTH LLC M 498464 FMV GAS SOUTH LLC Q 238871 COST GAS SOUTH LLC H 266457 FMV SCHEDULE R RELATED ORGANIZATIONS: COBB ENERGY MANAGEMENT CORPORATION (COBB ENERGY): COBB ENERGY WAS INCORPORATED IN THE STATE OF GEORGIA ON SEPTEMBER 3, 1997 TO PROVIDE VARIOUS SERVICES TO COBB ELECTRIC MEMBERSHIP CORPORATION (COBB EMC), ITS SUBSIDIARIES AND OTHER THIRD PARTIES. AS OF DECEMBER 31, 2022, COBB ENERGY MANAGEMENT CORPORATION HAS NO OPERATING ACTIVITIES. GAS SOUTH, LLC (GAS SOUTH) AND SUBSIDIARIES: GAS SOUTH, LLC TOGETHER WITH IT'S WHOLLY-OWNED SUBSIDIARIES IS A NATURAL GAS MARKETER THAT SERVES RESIDENTIAL, BUSINESS, GOVERNMENTAL, AND INSTITUTIONAL CUSTOMERS PRIMARILY IN THE SOUTHEASTERN UNITED STATES IN AREAS WHERE CUSTOMERS HAVE THE ABILITY TO CHOOSE THEIR ENERGY PROVIDER. THE COMPANY ALSO SERVES LARGE CUSTOMERS THAT ARE CONNECTED DIRECTLY TO INTERSTATE PIPELINES AND WHOLESALES NATURAL GAS TO OTHER SERVICE PROVIDERS. GAS SOUTH'S MANAGEMENT COMMITTEE IS MADE UP OF COBB EMC EXECUTIVE MANAGEMENT AND FOUR COBB EMC BOARD MEMBERS. COBB EMC BOARD MEMBERS SERVING ON THE MANAGEMENT COMMITTEE ARE COMPENSATED DIRECTLY BY GAS SOUTH. THESE AMOUNTS ARE REPORTED ON COBB EMC'S FORM 990 AS "REPORTABLE COMPENSATION FROM RELATED ORGANIZATIONS". FIBER SOUTH BROADBAND, LLC: FIBER SOUTH BROADBAND, LLC (FIBER SOUTH) IS A WHOLLY OWNED SINGLE-MEMBER LLC OF COBB EMC. FIBER SOUTH WAS A PROVIDER OF RETAIL BROADBAND SERVICES. FIBER SOUTH EXITED THE BROADBAND BUSINESS IN 2021. FIBER SOUTH HAD NO ACTIVITY IN 2022.