2023-11-13T16:57:35-06:00 2022-12-31 135565207 KPMG LLP 550 SOUTH HOPE STREET SUITE 1500 LOS ANGELES CA 90071 990 2022-01-01 640367992 COOPERATIVE ENERGY COOP 6012682083 PO BOX 15849 HATTIESBURG MS 394045849 KEVIN R GRACE SR CHIEF FINANCIAL OFFICER 6012682083 2023-11-06 1 KEVIN GRACE SR 999009999 0 DAVID M HIGHFILL P01517891 2139724000 2023-11-03 0 AAL1 IAL1 2022 2023-04-26 12:10:37Z JEFF BOWMAN PO BOX 15849 HATTIESBURG MS 394045849 956651180 0 X WWW.COOPERATIVEENERGY.COM X 1941 MS PROVIDE AND TRANSMIT THROUGH GENERATION AND PURCHASE OF ELECTRICITY, WHOLESALE ELECTRICITY TO 11 MEMBER OWNER COOPERATIVES, EACH SERVING RETAIL CONSUMERS. 24 24 567 0 0 0 0 0 800671733 955133468 104492 1517712 0 0 800776225 956651180 159000 871416 20000000 20000000 66661035 65408546 0 0 0 713956190 870371218 800776225 956651180 0 0 2085034483 2189288268 1639915671 1734169456 445118812 455118812 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 448,535 METERS IN MISSISSIPPI. COOPERATIVE ENERGY AND THE 11 MEMBER SYSTEMS ARE CONSUMER-OWNED, NON-PROFIT BUSINESSES. DURING 2022, COOPERATIVE ENERGY PROVIDED MEMBER SYSTEMS WITH 10,368,614 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 1 213 0 1 567 1 0 0 0 0 0 799226923 88799439 0 0 0 X 24 24 1 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 MS X KEVIN GRACE SR 6012682083 7037 HWY 49 N HATTIESBURG MS 39402 RONALD G BARNES DIRECTOR 2.19 0.00 X 32873 0 0 KEVIN BONDS DIRECTOR 3.81 0.00 X 31700 0 0 JOEL CUNNINGHAM DIRECTOR 2.15 0.00 X 33443 0 0 HOWARD DAVIS DIRECTOR 1.76 0.00 X 31134 0 0 RICHARD DOSSETT DIRECTOR 1.13 0.00 X 33023 0 0 TERI EATON DIRECTOR (BEG. 06/22) 2.02 0.00 X 16310 0 0 HARRY HOWARTH DIRECTOR 2.34 0.00 X 33590 0 0 BRIAN HUGHEY DIRECTOR 4.08 0.00 X 34400 0 0 KEITH HURT DIRECTOR 5.66 0.00 X X 34500 0 0 MICHAEL NEELY DIRECTOR 1.60 0.00 X 30000 0 0 DAVID O'BRYAN DIRECTOR 3.75 0.00 X 35400 0 0 TIMOTHY PERKINS DIRECTOR 3.21 0.00 X 32400 0 0 LESLIE PETERS DIRECTOR (THRU 06/22) 0.54 0.00 X 15245 0 0 CHRIS RHODES DIRECTOR 1.89 0.00 X 33200 0 0 CINDY SHIPP DIRECTOR (THRU 06/22) 1.67 0.00 X 15461 0 0 HUGH GENE SMITH DIRECTOR 1.21 0.00 X 33159 0 0 RANDY SMITH DIRECTOR 1.63 0.00 X 32000 0 0 ROBERT SMITH DIRECTOR 1.64 0.00 X 32496 0 0 SCOTT SMITH DIRECTOR 0.80 0.00 X 31398 0 0 WILLIAM DARRELL SMITH DIRECTOR 9.90 0.00 X X 37200 0 0 BRYAN THOMAS DIRECTOR (BEG. 06/22) 1.48 0.00 X 16759 0 0 LOUIS THOMPSON DIRECTOR 2.46 0.00 X 38495 0 0 RICHARD THOMS DIRECTOR 2.53 0.00 X X 34796 0 0 MIKE TYNER DIRECTOR 4.83 0.00 X 34370 0 0 MATTHEW WARE DIRECTOR 2.00 0.00 X 30400 0 0 RANDY WOOLLEY DIRECTOR 2.42 0.00 X 32193 0 0 JEFF BOWMAN PRESIDENT/CEO 54.00 0.00 X 792545 0 264056 CHRISTA BISHOP SR VICE PRESIDENT/CCO 48.00 0.00 X 306131 0 143796 GARY HUTSON SR VICE PRESIDENT/COO 48.00 0.00 X 300652 0 132944 STEVE MCELHANEY SR VICE PRESIDENT/COMPLIAN 45.00 0.00 X 264644 0 112060 KEVIN GRACE SR VICE PRESIDENT/CFO 44.00 0.00 X 226784 0 80884 BRAD WOLFE SR VICE PRESIDENT/POWER DEL 42.00 0.00 X 322736 0 88438 MARK SMITH SR VICE PRESIDENT POWER GE 48.00 0.00 X 309035 0 208783 DON HINTON VICE PRESIDENT GENERAL COU 45.00 0.00 X 264604 0 97768 BRANDON SANDERS PLANT SUPERINTENDENT 45.00 0.00 X 200505 0 79016 MARK DODD VP INFORMATION SYSTEMS 42.00 0.00 X 198187 0 121612 TOM HALL SR VICE PRESIDENT/CFO 0.00 0.00 X 216252 0 0 4198020 0 1329357 201 1 1 0 GENERAL ELECTRIC INTERNATIONAL INC 4200 WILDWOOD PARKWAY ATLANTA GA 30339 PLANT MAINTENANCE SVCS 25769169 SIEMENS ENERGY INC 4400 ALAFAYA TRAIL ORLANDO FL 32826 PLANT MAINTENANCE SVCS 25142045 PERFORMANCE CONTRACTORS INC 8093 PADGETT SWITCH RD IRVINGTON AL 36544 ENGINEERING & CAP PROJECT 17866016 BURNS AND MCDONNELL ENGINEERING CO INC 9400 WARD PKWY KANSAS CITY MO 64114 ENGINEERING & CAP PROJECT 13113478 STUART C IRBY COMPANY 1314 WEST PINE STREET HATTIESBURG MS 39401 PLANT MAINTENANCE SVCS 5866779 142 REVENUE FROM MEMBERS 221000 855487499 855487499 REVENUE FROM NON MEMBE 221000 99395949 99395949 PROGRAM RELATED INVEST 221000 250020 250020 955133468 1409375 1409375 108337 0 108337 108337 108337 956651180 955241805 0 1409375 X 871416 20000000 5451722 40102680 9109720 6438002 4306422 840942 404904 447902 2692079 518415 3515168 801202 874141 31007581 83306258 3907572 PURCH. POWER FOR RESALE 381862460 COAL, NAT GAS, NUCLEAR 224006777 TRANSMISSION SYS. O&M 65344497 GENERATION PLANT O&M 60893138 9948182 956651180 8052208 23197164 114929255 53163624 64465467 90804908 46789034 56229435 170504129 196886661 2782147446 1133530992 1546735203 1648616454 133270002 119749054 289185 640968 2085034483 2189288268 181286593 132158800 1116764386 1164001641 20205199 180547215 321659493 257461800 1639915671 1734169456 X 0 0 0 0 445118812 455118812 445118812 455118812 2085034483 2189288268 0 10000000 X X 0 1 X 1 1 1 49739792 49739792 966990596 421330007 545660589 3393307 797405 2595902 1452166020 495636510 956529510 309857731 215767070 94090661 1648616454 NUCLEAR DECOMMISSIONING TRUST 106721493 F INVESTMENT-FEDERAL ECONOMIC DEV FUNDS 1814815 C INVESTMENT-CAPITAL TERM CERTIFICATES 6223283 C INVESTMENT IN ASSOCIATED ORGANIZATIONS 1298099 C OTHER INVESTMENTS 3691364 C 119749054 ACCUM. PROVISION FOR PENSIONS&BENEFITS 8452074 ASSET RETIREMENT OBLIGATIONS 121642480 CAPITAL LEASE -DISSOLVED 506168 DEF. CREDIT-POWER COST ADJUSTMENT 7328400 DEF. CREDIT-ECONOMIC DEVELOPMENT GRANTS 6690825 DEF. CREDIT-POWER SUPPLY DEVELOPMENT FUND 51600000 DEF. CREDIT-DEPR.&AMORTIZATION FUND 10000000 DEF. CREDIT-MEDICAL INSURANCE CONTRIBUTION ACCT 7074188 DEF. CREDIT-QUALITY OF LIFE FUND 18553 UNREALIZED GAIN DECOMMISSIONING TRUST 6710032 UNREALIZED GAIN NATURAL GAS HEDGES 37226599 UNREALIZED GAIN- FINANCIAL TRANSMISSION RIGHTS 212481 257461800 956651180 0 956651180 0 956651180 936651180 0 936651180 20000000 20000000 956651180 PART XII, LINE 4B - OTHER ADJUSTMENTS: PART XII, LINE 4B 20,000,000. PART XII, LINE 4B 2022 NET MARTIN 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 2022 FOR THIS ALLOCATED PATRONAGE CAPITAL. 1 SOUTHWEST MISS ELECTRIC POWER ASSOCIATION P O BOX 5 LORMAN MS 39096 640244325 501(C)12 604416 0 ECONOMIC DEVELOPMENT ECONOMIC DEVELOPMENT AUTHORITY OF JONES COUNTY 153 BASE DR LAUREL MS 39440 640688690 GOVT 50000 0 ECONOMIC DEVELOPMENT ECONOMIC DEVELOPMENT AUTHORITY OF JONES COUNTY 153 BASE DR LAUREL MS 39440 640688690 GOVT 50000 0 ECONOMIC DEVELOPMENT CAMP KAMASA - MS STRONGEST KIDS 4002 SUMRALL RD CRYSTAL SPRINGS MS 39059 262784330 501(C)3 50000 0 ECONOMIC DEVELOPMENT AREA DEVELOPMENT PARTNERSHIP 1 CONVENTION CENTER PLAZA HATTIESBURG MS 39401 570884979 501(C)6 32000 0 ECONOMIC DEVELOPMENT CITY OF WINONA 701 SUMMIT ST WINONA MS 38967 721385654 GOVT 25000 0 ECONOMIC DEVELOPMENT CARPENTER POLE AND PILING 1513 N WAGNOLIA DR WIGGINS MS 39577 640740013 25000 0 ECONOMIC DEVELOPMENT AREA DEVELOPMENT PARTNERSHIP 1 CONVENTION CENTER PLAZA HATTIESBURG MS 39401 570884979 501(C)6 20000 0 ECONOMIC DEVELOPMENT HARRISON COUNTY DEVELOPMENT COMMISSION 12281 INTRAPLEX PRWY GULFPORT MS 39503 640775688 501(C)6 10000 0 ECONOMIC DEVELOPMENT 8 1 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 1 0 0 JEFF BOWMAN PRESIDENT/CEO 782362 0 7500 0 2683 0 236617 0 27439 0 1056601 0 0 0 MARK SMITH SR VICE PRESIDENT POWER GE 293995 0 11168 0 3872 0 182354 0 26429 0 517818 0 0 0 CHRISTA BISHOP SR VICE PRESIDENT/CCO 292970 0 11169 0 1992 0 117131 0 26665 0 449927 0 0 0 GARY HUTSON SR VICE PRESIDENT/COO 285670 0 11002 0 3980 0 103067 0 29877 0 433596 0 0 0 BRAD WOLFE SR VICE PRESIDENT/POWER DEL 307852 0 9899 0 4985 0 59300 0 29138 0 411174 0 0 0 STEVE MCELHANEY SR VICE PRESIDENT/COMPLIAN 253467 0 8216 0 2961 0 83600 0 28460 0 376704 0 0 0 DON HINTON VICE PRESIDENT GENERAL COU 247960 0 8342 0 8302 0 70219 0 27549 0 362372 0 0 0 MARK DODD VP INFORMATION SYSTEMS 180165 0 6839 0 11183 0 95220 0 26392 0 319799 0 0 0 KEVIN GRACE SR VICE PRESIDENT/CFO 216507 0 7598 0 2679 0 52910 0 27974 0 307668 0 0 0 BRANDON SANDERS PLANT SUPERINTENDENT 184390 0 7011 0 9104 0 51972 0 27044 0 279521 0 0 0 TOM HALL SR VICE PRESIDENT/CFO 36030 0 0 0 180222 0 0 0 0 0 216252 0 0 0 PART I, LINE 4A TOM HALL, SR VP/CFO RECEIVED $179,722 IN SEVERANCE PAY IN 2022 AND IS INCLUDED IN AMOUNTS REPORTED IN PART II, COLUMN B(III) BASE COMPENSATION. TERMINATION DATE 12/27/2021. 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 2022 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 OF 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 QUESTIONNAIRE 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 15 COOPERATIVE ENERGY USES A VARIETY OF DATA SOURCES TO INFORM MANAGEMENT AND THE BOARD OF DIRECTORS OF COMPENSATION MARKET DATA AND TRENDS TO ENSURE COOPERATIVE ENERGY'S WAGES ARE COMPETITIVE, FAIR, AND EQUITABLE. IN 2022, COOPERATIVE ENERGY PARTICIPATED IN SEVERAL COMPENSATION SURVEYS TO GAIN COMPARABILITY DATA REGARDING COMPENSATION PRACTICES. SALARIED PLAN RANGES ARE ALIGNED WITH MARKET DATA BY AN EXTERNAL COMPENSATION CONSULTANT EVERY TWO YEARS. THE SURVEY DATA ANALYSIS AND POSITION VALUATION RANGES WERE USED IN THE EVALUATION OF SALARIES FOR THE CEO AND EXECUTIVE MANAGEMENT TEAM. THE EXECUTIVE MANAGEMENT TEAM'S SALARIES WERE DETERMINED BY THE CEO AND APPROVED BY THE BUDGET AND FINANCE COMMITTEE AND THE BOARD OF DIRECTORS. THE PROCESS WAS DOCUMENTED CONTEMPORANEOUSLY. THE CEO'S SALARY WAS ESTABLISHED BY THE BOARD OF DIRECTORS. 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 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 2022 REPORTING. COOPERATIVE ENERGY DOES NOT INCLUDE THIS ALLOCATION OF PATRONAGE CAPITAL AS AN EXPENSE FOR FINANCIAL REPORTING. DURING 2022 PATRONAGE CAPITAL AMOUNTING TO $10,000,000 WAS RETIRED. FORM 990, PART XII, LINE 2C: THERE WERE NO CHANGES IN THE PROCESS FOR THE 2022 TAX YEAR. COOPERATIVE ENERGY GRAND GULF I DECOMMISSIONING TRUST PO BOX 1071 HATTIESBURG MS 39403 646195446 INVESTMENTS MS COOPERATIVE ENERGY T 1528283 106722000 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 I DECOMMISSIONING TRUST R 2400000 FMV