2022-11-10T16:19:09-06:00 2021-12-31 205857627 TMH P O DRAWER 15099 HATTIESBURG MS 394045099 990 2021-01-01 640219645 PEARL RIVER VALLEY ELECTRIC POWER ASSOCIATION PEAR 6017362666 POST OFFICE BOX 1217 COLUMBIA MS 394291217 MATTHEW WARE GENERAL MANAGER/CEO 6017362666 2022-11-10 1 MATTHEW WARE 999009999 SUSAN A RILEY CPA P00144776 6012643519 2022-11-10 3 AAL1 IAL1 2021 2022-09-23 18:48:47Z MATTHEW WARE POST OFFICE BOX 1217 COLUMBIA MS 394291217 130089296 0 X WWW.PRVEPA.COM X 1938 MS THE ASSOCIATION'S MISSION IS TO PROVIDE ELECTRIC POWER TO RESIDENTIAL AND COMMERICAL CUSTOMERS. 10 0 141 0 0 0 0 2577000 126253806 127411299 261746 93658 9241 7339 126524793 130089296 0 0 10378447 11383026 13391705 14243991 0 0 0 103426878 105672658 127197030 131299675 -672237 -1210379 260839233 282339813 164686437 171631940 96152796 110707873 THE ASSOCIATION'S MISSION IS TO PROVIDE ELECTRIC POWER TO RESIDENTIAL AND COMMERICAL CONSUMERS. 0 0 130089296 127512296 PRVEPA PROVIDED ELECTRIC POWER TO 51,960 CONSUMERS DURING 2021. 130089296 0 1 0 0 0 0 0 0 0 1 0 0 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 0 0 0 0 1 0 0 0 1 28 0 1 141 1 0 0 0 0 0 0 0 127124246 5824492 0 0 0 X 10 0 0 0 1 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 DIRECTOR 3.30 X 20400 0 0 LAVELL BOND SECRETARY/TREASURER 3.40 X 21000 0 0 BF HUDSON JR DIRECTOR 3.50 X 20400 0 0 HUGH GENE SMITH PRESIDENT 3.70 X X 21600 0 0 LAWRENCE W WARREN DIRECTOR 0.00 X 2800 0 0 DANNY WILKS VICE PRESIDENT 8.60 X X 21450 0 0 LESLIE PETERS DIRECTOR 2.70 X 20100 0 0 JACK BRADSHAW DIRECTOR 2.60 X 19800 0 0 MATT THOMAS DIRECTOR 5.90 X 20100 0 0 DAVIS WINGO DIRECTOR 3.10 X 20100 0 0 JEFF TINNON DIRECTOR 4.30 X 18800 0 0 MATTHEW WARE GENERAL MANAGER/CEO 50.00 X 282557 0 47885 JODY THORNTON CHIEF FINANCIAL OFFICER 50.00 X 131178 0 18638 ERIK LAVINE MANAGER, ENGINEERING & OPERATIONS 50.00 X 152251 0 29870 ANTHONY HARRIS MANAGER, ECON DEV & COMM RELATIONS 40.00 X 165269 0 31124 GEROGE CUTRER DISTRICT MANAGER 40.00 X 154084 0 29907 WILLIAM MCCRARY DISTRICT MANAGER 40.00 X 153279 0 30402 JAMES ARMSTRONG MANAGER, PURCHASING & FACILITIES 40.00 X 142415 0 30206 CHARLES GREEN SERVICEMAN 40.00 X 142293 0 21049 RANDY WALLACE FORMER GENERAL MANAGER 50.00 X 151228 0 20463 1681104 0 259544 51 1 1 0 LOOKS GREAT SERVICES 1501 HIGHWAY 13 NORTH COLUMBIA MS 39429 RIGHT OF WAY MAINT 5173731 ERVIN CABLE CONSTRUCTION LLC 450 PRYOR BOULEVARD STURGIS KY 42459 FIBER CONSTRUCTION 1818514 CONEXON LLC 2001 GRAND BOULEVARD KANSAS CITY MO 64108 FIBER CONSTRUCTION 1279056 OSMOSE UTILITY SERVICES 635 HIGHWAY 74 SOUTH PEACHTREE CITY GA 30269 POLE INSPECTIONS 1229698 MDR CONSTRUCTION 621 E BAYLIS CHAPEL ROAD COLUMBIA MS 39429 CONSTRUCTION 1092399 11 2577000 2577000 ELECTRIC SALES 221000 123016080 123016080 PATRONAGE CREDITS 221000 3244290 3244290 COMMON USE POLE RENTAL 221000 1150929 1150929 127411299 16052 16052 77606 0 77606 77606 77606 MISCELLANEOUS INCOME 221000 7339 7339 7339 130089296 127512296 0 0 11383026 1681105 4398158 3853679 3662029 649020 54157 161645 842456 76822 3897058 7412476 COST OF POWER 82088708 DISTRIBUTION-MAINTENANC 6275047 ADMINISTRATIVE & GENERA 1558477 CONSUMER ACCOUNTS EXPEN 984713 2321099 131299675 3529168 9711454 11925160 10912015 2965883 7591590 276803 289492 295044906 102359209 182316636 192685697 59825583 61149565 260839233 282339813 12263456 12720998 3001417 2775417 103913899 118042911 45507665 38092614 164686437 171631940 X 315105 314470 608062 608062 95229629 109785341 96152796 110707873 260839233 282339813 X -1210379 15765456 X X 0 1 X 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 295044906 102359209 192685697 192685697 INTEREST & DIVIDEND INCOME REC 977662 PATRONAGE CAPITAL 49826132 INVESTMENT IN ASSOCIATED ORGANIZATIONS 925376 OTHER INVESTMENTS 9420395 61149565 CONSUMER DEPOSITS 4835784 POST RETIREMENT BENEFITS 33256830 38092614 X 129918107 -171189 -171189 130089296 0 130089296 119916649 0 119916649 11383026 11383026 131299675 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 -171,189. PART XII, LINE 4B - OTHER ADJUSTMENTS: MARGINS ASSIGNED 11,383,026. 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 $11,383,026. 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 2020 TO 2021 IN THE AMOUNT OF -$171,189. PATRONAGE CAPITAL REFLECTS THE CHANGE IN UNBILLED REVENUE. X X 0 0 0 MATTHEW WARE GENERAL MANAGER/CEO 282557 0 0 0 0 0 32940 0 14945 0 330442 0 0 0 ANTHONY HARRIS MANAGER, ECON DEV & COMM RELATIONS 165269 0 0 0 0 0 16179 0 14945 0 196393 0 0 0 GEROGE CUTRER DISTRICT MANAGER 154084 0 0 0 0 0 14962 0 14945 0 183991 0 0 0 WILLIAM MCCRARY DISTRICT MANAGER 153279 0 0 0 0 0 15457 0 14945 0 183681 0 0 0 ERIK LAVINE MANAGER, ENGINEERING & OPERATIONS 152251 0 0 0 0 0 14925 0 14945 0 182121 0 0 0 JAMES ARMSTRONG MANAGER, PURCHASING & FACILITIES 142415 0 0 0 0 0 15261 0 14945 0 172621 0 0 0 RANDY WALLACE FORMER GENERAL MANAGER 151228 0 0 0 0 0 19500 0 963 0 171691 0 0 0 CHARLES GREEN SERVICEMAN 142293 0 0 0 0 0 9498 0 11551 0 163342 0 0 0 COOPERATIVE ENERGY HUGH GENE SMITH, DIRECTOR, IS A BOARD MEMBER FOR COOPERATIVE ENERGY. 82088708 EXPENSE- THE ORGANIZATION PURCHASES ITS POWER FROM COOPERATIVE ENERGY 0 COOPERATIVE ENERGY HUGH GENE SMITH, DIRECTOR, IS A BOARD MEMBER FOR COOPERATIVE ENERGY. 6366950 CURRENT LIABILITY- THE ORGANIZATION PURCHASES ITS POWER FROM COOPERATIVE ENERGY 0 COOPERATIVE ENERGY MATTHEW WARE, OFFICER, IS A BOARD MEMBER FOR COOPERATIVE ENERGY. 82088708 EXPENSE- THE ORGANIZATION PURCHASES ITS POWER FROM COOPERATIVE ENERGY 0 COOPERATIVE ENERGY MATTHEW WARE, OFFICER, IS A BOARD MEMBER FOR COOPERATIVE ENERGY. 6366950 CURRENT LIABILITY- THE ORGANIZATION PURCHASES ITS POWER FROM COOPERATIVE ENERGY 0 COOPERATIVE ENERGY LESLIE PETERS, DIRECTOR, IS A BOARD MEMBER FOR COOPERATIVE ENERGY. 82088708 EXPENSE- THE ORGANIZATION PURCHASES ITS POWER FROM COOPERATIVE ENERGY 0 COOPERATIVE ENERGY LESLIE PETERS, DIRECTOR, IS A BOARD MEMBER FOR COOPERATIVE ENERGY. 6366950 CURRENT LIABILITY- THE ORGANIZATION PURCHASES ITS POWER FROM COOPERATIVE ENERGY 0 FORM 990, PART VI, SECTION A, LINE 4 DURING 2021, PRVEPA MADE CHANGES TO ITS BYLAWS. CHANGES MADE RELATED TO: - NOMINATIONS - A COMMITTEE CONSISTING OF 10 MEMBERS, WHO SHALL DIRECT NOMINATIONS OF DIRECTORS. - ALTERNATIVE DISPUTE RESOLUTION - ALL CONTROVERSIES OR CLAIMS RELATING TO THE BYLAWS OF THE ORGANIZATION, PATRONAGE CAPITAL, AND/OR COOPERATIVE GOVERNANCE SHALL BE RESOLVED BY BINDING ARBITRATION. 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 6,985,999. DEFINED BENEFIT PLAN NET GAIN (LOSS) 8,442,710. CHANGE IN MEMBERSHIPS -635. INTEREST RATE SWAP NET GAIN (LOSS) 508,571. UNBILLED REVENUE -171,189. PART XII, LINE 2C PROCESS HAS NOT CHANGED FROM PRIOR YEAR. PEARL RIVER VALLEY COMMUNICATIONS LLC POST OFFICE BOX 1217 COLUMBIA MS 39429 852692674 TELECOMMUNICATIONS MS 0 794755