2022-11-04T10:32:19-05:00 2021-12-31 990 2021-01-01 640367992 COOPERATIVE ENERGY COOP 6012682083 PO BOX 15849 HATTIESBURG MS 394045849 KEVIN R GRACE SR CHIEF FINANCIAL OFFICER 6012682083 2022-11-04 KEVIN GRACE SR 999009999 3 AAL1 IAL1 2021 2022-09-23 18:48:47Z JEFF BOWMAN PO BOX 15849 HATTIESBURG MS 394045849 800776225 0 X WWW.COOPERATIVEENERGY.COM X 1941 MS PROVIDE AND TRANSMIT THROUGH GENERATION AND PURCHASE OF ELECTRICITY, WHOLESALE ELECTRICITY TO 11 MEMBER OWNED DISTRIBUTION COOPERATIVES, EACH SERVING RETAIL CONSUMERS. 24 24 561 0 0 0 0 0 751069899 800671733 106015 104492 0 0 751175914 800776225 229167 159000 20000000 20000000 62675337 66661035 0 0 0 668271410 713956190 751175914 800776225 0 0 2053339465 2085034483 1618220653 1639915671 435118812 445118812 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 442,000 METERS IN MISSISSIPPI. COOPERATIVE ENERGY AND THE 11 MEMBER SYSTEMS ARE CONSUMER-OWNED, NON-PROFIT BUSINESSES. DURING 2021, COOPERATIVE ENERGY PROVIDED MEMBER SYSTEMS WITH 9,831,808 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 0 0 0 1 211 0 1 561 1 0 0 0 0 0 718976871 81694862 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 GILBERT ARCENEAUX DIRECTOR 2.38 X 15195 0 0 RONALD G BARNES DIRECTOR 2.29 X 33789 0 0 KEVIN BONDS DIRECTOR 2.99 X 32400 0 0 JOEY CUNNINGHAM DIRECTOR 1.80 X 33277 0 0 HOWARD DAVIS DIRECTOR 2.80 X 18631 0 0 RICHARD DOSSETT DIRECTOR 0.52 X 17824 0 0 ROY GRAFE DIRECTOR 1.81 X 14598 0 0 HARRY HOWARTH DIRECTOR 1.74 X 32867 0 0 BRIAN HUGHEY DIRECTOR 2.47 X 34000 0 0 KEITH HURT DIRECTOR 5.38 X 35200 0 0 MACK MAULDIN DIRECTOR 0.91 X 13139 0 0 MICHAEL NEELY DIRECTOR 1.57 X 25200 0 0 DAVID O'BRYAN DIRECTOR 3.31 X 34400 0 0 TIM PERKINS DIRECTOR 5.43 X 35221 0 0 LES PETERS DIRECTOR 0.75 X 29741 0 0 CHRIS RHODES DIRECTOR 1.26 X 33000 0 0 CINDY SHIPP DIRECTOR 1.15 X 33578 0 0 DARRELL SMITH DIRECTOR 9.54 X X 34800 0 0 HUGH GENE SMITH DIRECTOR 1.26 X 32338 0 0 RANDY SMITH DIRECTOR 1.41 X 33200 0 0 ROBERT SMITH DIRECTOR 1.98 X 17457 0 0 SCOTT SMITH DIRECTOR 0.61 X 30004 0 0 LOUIS THOMPSON DIRECTOR 2.64 X X 43291 0 0 RICHARD THOMS DIRECTOR 2.74 X X 35141 0 0 MIKE TYNER DIRECTOR 3.71 X 33924 0 0 MATTHEW WARE DIRECTOR 1.77 X 32000 0 0 RON WHITE DIRECTOR 0.57 X 7600 0 0 RANDY WOOLLEY DIRECTOR 5.46 X 32035 0 0 JEFF BOWMAN PRESIDENT/CEO 53.00 X 732399 0 210792 NATHAN BROWN SR. VICE PRESIDENT/ COO 50.00 X 606822 0 55162 TOM HALL SR. VICE PRESIDENT/ CFO 50.00 X 404798 0 265807 CHRISTA BISHOP SR VICE PRESIDENT/CCO 48.00 X 295576 0 133339 STEVE MCELHANEY SR VICE PRESIDENT/COMPLIAN 45.00 X 265194 0 76320 GARY HUTSON SR VICE PRESIDENT/COO 50.00 X 274847 0 100866 BRAD WOLFE SR VICE PRESIDENT/POWER DE 42.00 X 310889 0 199048 MARK SMITH SR VICE PRESIDENT POWER GE 48.00 X 290581 0 158931 DON HINTON VICE PRESIDENT- GENERAL CO 45.00 X 234591 0 69453 BRAD EDWARDS NUCLEAR SPECIALIST 30.00 X 207442 0 102042 RON REPSHER VICE PRESIDENT- POWER SUPPLY 47.00 X 206740 0 84815 4633729 0 1456575 177 1 1 0 PERFORMANCE CONTRACTORS INC 8093 PADGETT SWITCH RD IRVINGTON AL 36544 ENGINEERING & CAP PROJECT 27909786 SIEMENS ENERGY 4400 ALAFAYA TRAIL ORLANDO FL 32826 PLANT MAINTENANCE SERVICES 26716408 BURNS AND MCDONNELL ENG CO INC 9400 WARD PKWY KANSAS CITY MO 64114 ENGINEERING & CAP PROJECT 10186487 GENERAL ELECTRIC INTERNATIONAL INC 4200 WILDWOOD PARKWAY ATLANTA GA 30339 PLANT MAINTENANCE SERVICES 8704756 WARTSILA NORTH AMERICA INC 11710 N GESSNER RD STE A HOUSTON TX 77064 RECIP ENGINE PROJECT 6213447 174 REVENUE FROM MEMBERS 221000 718976870 718976870 REVENUE FROM NON-MEMBERS 221000 79281516 79281516 PROGRAM RELATED INVESTMENTS 221000 2413347 2413347 800671733 104492 0 104492 104492 104492 800776225 800776225 0 0 159000 20000000 6090304 40741538 9112762 6796465 3919966 1154613 238763 451756 633831 689582 3257991 983258 519743 31923048 81965873 3948195 PURCHASED POWER FOR RES 320485551 COAL, NAT GAS, NUCLEAR 144564520 GENERATION PLANT O&M 57757123 TRANSMISSION SYS. O&M 55214474 10167869 800776225 7956537 8052208 211300385 114929255 69865940 64465467 41533040 46789034 162859155 170504129 2626129269 1079394066 1444463472 1546735203 115068028 133270002 292908 289185 2053339465 2085034483 208898093 181286593 1109060633 1116764386 3008226 20205199 297253701 321659493 1618220653 1639915671 X 0 0 0 0 435118812 445118812 435118812 445118812 2053339465 2085034483 X 0 10000000 X X 0 1 X 1 1 1 49108887 49108887 831568549 411363525 420205024 3393307 786915 2606392 1428875821 461650550 967225271 313182705 205593076 107589629 1546735203 NUCLEAR DECOMMISSIONING TRUST 120912774 F INVESTMENT - FEDERAL ECONOMIC DEV FUNDS 1037037 C INVESTMENT - CAPITAL TERM CERTIFICATES 6223283 C INVESTMENT IN ASSOCIATED ORGANIZATIONS 1294515 C OTHER INVESTMENTS 3802393 C 133270002 ACCUM. PROVISION FOR PENSIONS & BENEFITS 11861291 ASSET RETIREMENT OBLIGATIONS 117297323 CAPITAL LEASE - DISSOLVED 591716 DEFERRED CREDIT - POWER COST ADJUSTMENT 14692313 DEFERRED CREDIT - ECONOMIC DEVELOPMENT GRANTS 6603938 DEFERRED CREDIT - POWER SUPPLY DEVELOPMENT FUND 100496164 DEFERRED CREDIT - DEPRECIATION & AMORTIZATION FUND 10000000 DEFERRED CREDIT - MEDICAL INSURANCE CONTRIBUTION ACCT. 5553345 DEFERRED CREDIT - QUALITY OF LIFE FUND 18553 UNREALIZED GAIN DECOMMISSIONING TRUST 25558757 UNREALIZED GAIN NATURAL GAS HEDGES 28246942 UNREALIZED GAIN - FINANCIAL TRANSMISSION RIGHTS 739151 321659493 795604238 0 795604238 5171987 5171987 800776225 780776225 0 780776225 20000000 20000000 800776225 PART XI, LINE 4B - OTHER ADJUSTMENTS: PART XI, LINE 4B 5,171,987. PART XII, LINE 4B - OTHER ADJUSTMENTS: PART XII, LINE 4B 20,000,000. PART XII, LINE 4B 2021 NET MARGIN 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 2021 FOR THIS ALLOCATED PATRONAGE CAPITAL PART XI, LINE 4B INTEREST INCOME IN THE AMOUNT OF $2,250,852, OTHER NON-OPERATING INCOME IN THE AMOUNT OF $2,758,640, AND PATRONAGE INCOME IN THE AMOUNT OF $162,495 ARE SHOWN AS NON-OPERATING MARGINS IN THE AUDITED FINANCIALS, BUT INCLUDED AS REVENUE ON FORM 990. PART X OTHER LIABILITIES (SEE FORM 990, PART X, LINE 25.) A: DESCRIPTION OF LIABILITY B: AMOUNT DEF CREDIT-QUALITY OF LIFE FUND $18,553 UNREALIZED GAIN DECOMISSIONING TRUST $25,558,757 UNREALIZED GAIN NATURAL GAS HEDGES $28,246,942 UNREALIZED GAIN- FINANCIAL TRANSMISSION RIGHTS $739,151 1 UNIVERSITY OF MS MEDICAL CENTER 2500 N STATE ST JACKSON MS 39216 646008520 25000 0 ECONOMIC DEVELOPMENT HANCOCK CO PORT & HARBOR COM 14054 FRED AND AL KEY RD KILN MS 39556 640440746 9000 0 ECONOMIC DEVELOPMENT MONTGOMERY COUNTY 614 SUMMIT ST WINONA MS 38967 646000851 25000 0 ECONOMIC DEVELOPMENT GREENE COUNTY 413 GREENE AVE LEAKSVILLE MS 39451 646000390 25000 0 ECONOMIC DEVELOPMENT SCENIC RIVERS DEVELOPMENT ALLI PO BOX 1810 MCCOMB MS 39648 844572933 25000 0 ECONOMIC DEVELOPMENT PIKE COUNTY ECONOMIC DEVELOP 1156 COLLEGE DR 222 SUMMIT MS 39666 640829853 50000 0 ECONOMIC DEVELOPMENT 6 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. PART II, ITEMS 1-5 1 X X X 1 0 0 JEFF BOWMAN PRESIDENT/CEO 722691 0 0 0 9708 0 189413 0 21379 0 943191 0 0 0 NATHAN BROWN SR. VICE PRESIDENT/ COO 595507 0 8568 0 2747 0 53380 0 1782 0 661984 0 0 0 TOM HALL SR. VICE PRESIDENT/ CFO 384432 0 10903 0 9463 0 244418 0 21389 0 670605 0 0 0 CHRISTA BISHOP SR VICE PRESIDENT/CCO 277483 0 10942 0 7151 0 112644 0 20695 0 428915 0 0 0 STEVE MCELHANEY SR VICE PRESIDENT/COMPLIAN 245023 0 8234 0 11937 0 55908 0 20412 0 341514 0 0 0 GARY HUTSON SR VICE PRESIDENT/COO 258623 0 9690 0 6534 0 80912 0 19954 0 375713 0 0 0 BRAD WOLFE SR VICE PRESIDENT/POWER DE 296102 0 9949 0 4838 0 177955 0 21093 0 509937 0 0 0 MARK SMITH SR VICE PRESIDENT POWER GE 273090 0 10850 0 6641 0 138620 0 20311 0 449512 0 0 0 DON HINTON VICE PRESIDENT- GENERAL CO 217276 0 7628 0 9687 0 49990 0 19463 0 304044 0 0 0 BRAD EDWARDS NUCLEAR SPECIALIST 194648 0 7441 0 5353 0 82462 0 19580 0 309484 0 0 0 RON REPSHER VICE PRESIDENT- POWER SUPPLY 191662 0 6078 0 9000 0 65710 0 19105 0 291555 0 0 0 PART I, LINE 4A NATHAN BROWN, SR VP/COO RECEIVED $402,744 IN SEVERANCE PAY IN 2021 AND IS INCLUDED IN AMOUNTS REPORTED IN PART II, COLUMN B(I) BASE COMPENSATION. TERMINATION DATE 1/25/2021 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 2021 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. FORM 990, PART VI, SECTION B, LINE 15 COOPERATIVE ENERGY UTILIZES 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 2021, COOPERATIVE ENERGY PARTICIPATED IN BOTH OLD DOMINION ELECTRIC COOPERATIVE'S CEO AND EXECUTIVE COMPENSATION SURVEY, OGLETHORPE POWER'S EXECUTIVE COMPENSATION SURVEY, AND G&T HUMAN RESOURCES GROUP'S COMPENSATION SURVEY TO ASSESS COMPARABILITY DATA REGARDING COMPENSATION PRACTICES. A COMPENSATION CONSULTANT WAS ALSO SECURED TO ALIGN THE SALARIED PLAN RANGES WITH MARKET DATA. THE SURVEY DATA ANALYSIS AND POSITION VALUATIONS WERE USED IN THE EVALUATION OF SALARIES FOR THE CEO AND EXCECUTIVE 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 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 CHANGES IN NET ASSETS 10,000,000. 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 2021 REPORTING. COOPERATIVE ENERGY DOES NOT INCLUDE THIS ALLOCATION OF PATRONAGE CAPITAL AS AN EXPENSE FOR FINANCIAL REPORTING. DURING 2021, PATRONAGE CAPITAL AMOUNTING TO $10,000,000 WAS RETIRED.