COOPERATIVE ENERGY A MISSISSIPPI ELECTRIC COOPERATIVE: Form 990, tax year 2020
View the entire original 990 at ProPublica ↗
- Organization
- COOPERATIVE ENERGY A MISSISSIPPI ELECTRIC COOPERATIVE (EIN 64-0367992)
- Tax period
- 2020-01-01 to 2020-12-31
- Filed
- 2021-10-26
- IRS object ID
- 202132999349300718
- Schema version
- 2020v4.1
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2021-10-26T11:07:38-05:00 | ReturnTs |
| Tax Period End | 2020-12-31 | TaxPeriodEndDt |
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2020-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 640367992 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | COOPERATIVE ENERGY | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | COOP | BusinessNameControlTxt |
| Phone | 6012682083 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 15849 | AddressLine1Txt |
| City | HATTIESBURG | CityNm |
| State Abbreviation | MS | StateAbbreviationCd |
| ZIP | 394045849 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | THOMAS HALL | PersonNm |
| Person Title | CHIEF FINANCIAL OFFICER | PersonTitleTxt |
| Phone | 6012682083 | PhoneNum |
| Signature | 2021-10-26 | SignatureDt |
Signing Officer SigningOfficerGrp
Person Full Name PersonFullName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person First | THOMAS | PersonFirstNm |
| Person Last | HALL | PersonLastNm |
| Field | Value | IRS element (for citing) |
|---|---|---|
| SSN | 999009999 | SSN |
Additional Filer Information AdditionalFilerInformation
Trusted Customer TrustedCustomerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Trusted Customer | 3 | TrustedCustomerCd |
| Authentication Assurance Level | AAL1 | AuthenticationAssuranceLevelCd |
| Identity Assurance Level | IAL1 | IdentityAssuranceLevelCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2020 | TaxYr |
| Build TS | 2022-09-23 18:48:47Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | JEFF BOWMAN | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 15849 | AddressLine1Txt |
| City | HATTIESBURG | CityNm |
| State Abbreviation | MS | StateAbbreviationCd |
| ZIP | 394045849 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $751,175,914 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | WWW.COOPERATIVEENERGY.COM | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1941 | FormationYr |
| Legal Domicile State | MS | LegalDomicileStateCd |
| Activity Or Mission | PROVIDE AND TRANSMIT THROUGH GENERATION AND PURCHASE OF ELECTRICITY, WHOLESALE ELECTRICITY TO 11 MEMBER OWNED DISTRIBUTION COOPERATIVES, EACH SERVING RETAIL CONSUMERS. | ActivityOrMissionDesc |
| Voting Members Governing Body | 24 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 24 | VotingMembersIndependentCnt |
| Total Employee | 540 | TotalEmployeeCnt |
| Total Volunteers | 0 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $771,104,661 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $751,069,899 | CYProgramServiceRevenueAmt |
| PY Investment Income | $148,255 | PYInvestmentIncomeAmt |
| CY Investment Income | $106,015 | CYInvestmentIncomeAmt |
| PY Other Revenue | $0 | PYOtherRevenueAmt |
| CY Other Revenue | $0 | CYOtherRevenueAmt |
| PY Total Revenue | $771,252,916 | PYTotalRevenueAmt |
| CY Total Revenue | $751,175,914 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $560,535 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $229,167 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $20,000,000 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $20,000,000 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $58,214,173 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $62,675,337 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $692,478,208 | PYOtherExpensesAmt |
| CY Other Expenses | $668,271,410 | CYOtherExpensesAmt |
| PY Total Expenses | $771,252,916 | PYTotalExpensesAmt |
| CY Total Expenses | $751,175,914 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $0 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $0 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $1,931,402,055 | TotalAssetsBOYAmt |
| Total Assets EOY | $2,053,339,465 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $1,506,283,243 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $1,618,220,653 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $425,118,812 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $435,118,812 | NetAssetsOrFundBalancesEOYAmt |
| Mission | PROVIDE AND TRANSMIT THROUGH GENERATION AND PURCHASE OF ELECTRICITY, WHOLESALE ELECTRICITY TO 11 MEMBER OWNER COOPERATIVES, EACH SERVING RETAIL CONSUMERS. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Desc | PROVIDE AFFORDABLE AND RELIABLE ELECTRIC ENERGY TO MEMBER COOPERATIVES. THE 11 MEMBER COOPERATIVES PROVIDE SERVICE TO APPROXIMATELY 439,000 METERS IN MISSISSIPPI. COOPERATIVE ENERGY AND THE 11 MEMBER SYSTEMS ARE CONSUMER-OWNED, NON-PROFIT BUSINESSES. DURING 2020, COOPERATIVE ENERGY PROVIDED MEMBER SYSTEMS WITH 9,656,694 MWH OF ENERGY. | Desc |
| Described In Section501c3 | 0 | DescribedInSection501c3Ind |
| Schedule B Required | 0 | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | 0 | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | Yes (1) | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | 0 | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (1) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | 0 | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | Yes (1) | GrantsToOrganizationsInd |
| Grants To Individuals | 0 | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | 0 | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | 0 | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 214 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 540 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | 0 | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Members And Shr Gross Income | $675,039,441 | MembersAndShrGrossIncomeAmt |
| Other Sources Gross Income | $76,030,458 | OtherSourcesGrossIncomeAmt |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 24 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 24 | IndependentVotingMemberCnt |
| Family Or Business Rln | Yes (1) | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | Yes (1) | MembersOrStockholdersInd |
| Election Of Board Members | Yes (1) | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | Yes (1) | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (1) | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| States Where Copy Of Return Is Fld | MS | StatesWhereCopyOfReturnIsFldCd |
| Own Website | Yes (X) | OwnWebsiteInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | THOMAS HALL | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 6012682083 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 7037 HWY 49 N | AddressLine1Txt |
| City | HATTIESBURG | CityNm |
| State Abbreviation | MS | StateAbbreviationCd |
| ZIP | 39402 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (37 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | OfficerOfficerInd | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|
| GILBERT ARCENEAUX | |||||||
| DIRECTOR | 1.69 | Yes (X) | $31,206 | $0 | $0 | ||
| RONALD G BARNES | |||||||
| DIRECTOR | 2.04 | Yes (X) | $32,400 | $0 | $0 | ||
| KEVIN BONDS | |||||||
| DIRECTOR | 3.63 | Yes (X) | $30,800 | $0 | $0 | ||
| JOEY CUNNINGHAM | |||||||
| DIRECTOR | 1.93 | Yes (X) | $32,785 | $0 | $0 | ||
| ROY GRAFE | |||||||
| DIRECTOR | 0.92 | Yes (X) | $30,814 | $0 | $0 | ||
| WILLIAM HARDIN | |||||||
| DIRECTOR | 3.65 | Yes (X) | $16,624 | $0 | $0 | ||
| HARRY HOWARTH | |||||||
| DIRECTOR | 1.70 | Yes (X) | $23,794 | $0 | $0 | ||
| BRIAN HUGHEY | |||||||
| DIRECTOR | 2.47 | Yes (X) | $33,200 | $0 | $0 | ||
| KEITH HURT | |||||||
| DIRECTOR | 4.56 | Yes (X) | $33,200 | $0 | $0 | ||
| MACK MAULDIN | |||||||
| DIRECTOR | 1.20 | Yes (X) | $30,545 | $0 | $0 | ||
| DAVID O'BRYAN | |||||||
| DIRECTOR | 2.10 | Yes (X) | $32,400 | $0 | $0 | ||
| TIM PERKINS | |||||||
| DIRECTOR | 3.45 | Yes (X) | $34,800 | $0 | $0 | ||
| LES PETERS | |||||||
| DIRECTOR | 0.99 | Yes (X) | $31,578 | $0 | $0 | ||
| CHRIS RHODES | |||||||
| DIRECTOR | 0.29 | Yes (X) | $8,000 | $0 | $0 | ||
| CINDY SHIPP | |||||||
| DIRECTOR | 0.83 | Yes (X) | $33,042 | $0 | $0 | ||
| JASON SIEGFRIED | |||||||
| DIRECTOR | 0.40 | Yes (X) | $7,200 | $0 | $0 | ||
| DARRELL SMITH | |||||||
| DIRECTOR | 8.62 | Yes (X) | $33,800 | $0 | $0 | Yes (X) | |
| HUGH GENE SMITH | |||||||
| DIRECTOR | 0.89 | Yes (X) | $31,604 | $0 | $0 | ||
| RANDY SMITH | |||||||
| DIRECTOR | 1.16 | Yes (X) | $31,400 | $0 | $0 | ||
| SCOTT SMITH | |||||||
| DIRECTOR | 2.14 | Yes (X) | $17,041 | $0 | $0 | ||
| LOUIS THOMPSON | |||||||
| DIRECTOR | 3.11 | Yes (X) | $44,284 | $0 | $0 | Yes (X) | |
| RICHARD THOMS | |||||||
| DIRECTOR | 3.45 | Yes (X) | $32,438 | $0 | $0 | Yes (X) | |
| MIKE TYNER | |||||||
| DIRECTOR | 2.95 | Yes (X) | $18,394 | $0 | $0 | ||
| RANDY WALLACE | |||||||
| DIRECTOR | 2.87 | Yes (X) | $32,800 | $0 | $0 | ||
| HENRY C WATERER JR | |||||||
| DIRECTOR | 3.00 | Yes (X) | $10,499 | $0 | $0 | Yes (X) | |
| RON WHITE | |||||||
| DIRECTOR | 1.24 | Yes (X) | $31,600 | $0 | $0 | ||
| DENNIS WILSON | |||||||
| DIRECTOR | 1.63 | Yes (X) | $14,966 | $0 | $0 | ||
| RANDY WOOLLEY | |||||||
| DIRECTOR | 4.38 | Yes (X) | $31,535 | $0 | $0 | ||
| JEFF BOWMAN | |||||||
| PRESIDENT/CEO | 53.00 | $643,766 | $0 | $144,096 | Yes (X) | ||
| NATHAN BROWN | |||||||
| SR. VICE PRESIDENT/ COO | 50.00 | $497,557 | $0 | $244,392 | Yes (X) | ||
| TOM HALL | |||||||
| SR. VICE PRESIDENT/ CFO | 50.00 | $391,809 | $0 | $216,026 | Yes (X) | ||
| CHRISTA BISHOP | |||||||
| SR VICE PRESIDENT/CCO | 48.00 | $276,768 | $0 | $105,253 | Yes (X) | ||
| STEVE MCELHANEY | |||||||
| SR VICE PRESIDENT/COMPLIAN | 45.00 | $255,477 | $0 | $141,190 | Yes (X) | ||
| BRAD WOLFE | |||||||
| SR VICE PRESIDENT/POWER DE | 42.00 | $299,940 | $0 | $159,992 | Yes (X) | ||
| MARK SMITH | |||||||
| SR VICE PRESIDENT POWER GENERATION | 48.00 | $250,244 | $0 | $128,444 | Yes (X) | ||
| CHRIS RHODES | |||||||
| SR VICE PRESIDENT ADMIN | 50.00 | $239,890 | $0 | $80,909 | Yes (X) | ||
| DON HINTON | |||||||
| VICE PRESIDENT- GENERAL COUNSEL | 45.00 | $199,742 | $0 | $59,564 | Yes (X) | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $3,827,942 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $1,279,866 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 119 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (5 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| SIEMENS ENERGY | |||||
| 4400 ALAFAYA TRAIL | ORLANDO | FL | 32826 | PLANT MAINTENANCE SERVICES | $27,352,677 |
| W G YATES & SONS CONSTRUCTION | |||||
| P O BOX 456 | PHILADELPHIA | MS | 39350 | FOUNDATION/GROUNDING | $16,049,151 |
| BURNS AND MCDONNELL ENG CO INC | |||||
| 9400 WARD PKWY | KANSAS CITY | MO | 64114 | ENGINEERING & CAP PROJECT | $13,466,931 |
| WARTSILA NORTH AMERICA INC | |||||
| 11710 N GESSNER RD STE A | HOUSTON | TX | 77064 | RECIP ENGINE PROJECT | $12,859,543 |
| GENERAL ELECTRIC INTERNATIONAL INC | |||||
| 9400 WARD PKWY | KANSAS CITY | MO | 64114 | PLANT MAINTENANCE SERVICES | $10,911,643 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 92 | CntrctRcvdGreaterThan100KCnt |
Program Service Revenue ProgramServiceRevenueGrp (3 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| REVENUE FROM MEMBERS | 221000 | $675,039,441 | $675,039,441 |
| REVENUE FROM NON-MEMBERS | 221000 | $70,972,263 | $70,972,263 |
| PROGRAM RELATED INVESTMENTS | 221000 | $5,058,195 | $5,058,195 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $751,069,899 | TotalProgramServiceRevenueAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $106,015 | OtherAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $0 | OtherAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $106,015 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $106,015 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $106,015 | RelatedOrExemptFuncIncomeAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $751,175,914 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $751,175,914 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $0 | ExclusionAmt |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $229,167 | TotalAmt |
Benefits To Members BenefitsToMembersGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $20,000,000 | TotalAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $5,427,493 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $39,219,204 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $8,294,749 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $5,935,398 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,798,493 | TotalAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $744,163 | TotalAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $343,140 | TotalAmt |
Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $363,493 | TotalAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $610,252 | TotalAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $673,809 | TotalAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,984,279 | TotalAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,140,399 | TotalAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $313,647 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $35,825,996 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $81,083,955 | TotalAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,292,944 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| PURCHASED POWER FOR RES | $303,659,520 |
| COAL, NAT GAS, NUCLEAR | $127,448,923 |
| GENERATION PLANT O&M | $51,826,928 |
| TRANSMISSION SYS. O&M | $46,473,710 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $10,486,252 | TotalAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $751,175,914 | TotalAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,008,738 | BOYAmt |
| EOY | $7,956,537 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $237,482,999 | BOYAmt |
| EOY | $211,300,385 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $64,751,961 | BOYAmt |
| EOY | $69,865,940 | EOYAmt |
Inventories For Sale Or Use InventoriesForSaleOrUseGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $39,619,275 | BOYAmt |
| EOY | $41,533,040 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $191,161,415 | BOYAmt |
| EOY | $162,859,155 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $2,469,279,444 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $1,024,815,972 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,289,880,167 | BOYAmt |
| EOY | $1,444,463,472 | EOYAmt |
Investments Program Related InvestmentsProgramRelatedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $104,264,366 | BOYAmt |
| EOY | $115,068,028 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $233,134 | BOYAmt |
| EOY | $292,908 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,931,402,055 | BOYAmt |
| EOY | $2,053,339,465 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $172,039,506 | BOYAmt |
| EOY | $208,898,093 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,047,563,403 | BOYAmt |
| EOY | $1,109,060,633 | EOYAmt |
Unsecured Notes Loans Payable UnsecuredNotesLoansPayableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,283,760 | BOYAmt |
| EOY | $3,008,226 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $282,396,574 | BOYAmt |
| EOY | $297,253,701 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,506,283,243 | BOYAmt |
| EOY | $1,618,220,653 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Org Does Not Follow FASB117 | Yes (X) | OrgDoesNotFollowFASB117Ind |
Cap Stk Tr Prin Current Funds CapStkTrPrinCurrentFundsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Pd In Cap Srpls Land Bldg Eqp Fund PdInCapSrplsLandBldgEqpFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $425,118,812 | BOYAmt |
| EOY | $435,118,812 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $425,118,812 | BOYAmt |
| EOY | $435,118,812 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,931,402,055 | BOYAmt |
| EOY | $2,053,339,465 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $0 | ReconcilationRevenueExpnssAmt |
| Other Changes In Net Assets | $10,000,000 | OtherChangesInNetAssetsAmt |
| Info In Schedule O Part XII | Yes (X) | InfoInScheduleOPartXIIInd |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | Yes (1) | FederalGrantAuditRequiredInd |
| Federal Grant Audit Performed | Yes (1) | FederalGrantAuditPerformedInd |
Schedule D IRS990ScheduleD
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | $48,770,095 | InvestmentCostOrOtherBasisAmt |
| Book Value | $48,770,095 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | $706,226,981 | InvestmentCostOrOtherBasisAmt |
| Depreciation | $402,884,696 | DepreciationAmt |
| Book Value | $303,342,285 | BookValueAmt |
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | $3,393,307 | InvestmentCostOrOtherBasisAmt |
| Depreciation | $776,426 | DepreciationAmt |
| Book Value | $2,616,881 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | $1,404,339,957 | InvestmentCostOrOtherBasisAmt |
| Depreciation | $426,766,340 | DepreciationAmt |
| Book Value | $977,573,617 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | $306,549,104 | InvestmentCostOrOtherBasisAmt |
| Depreciation | $194,388,510 | DepreciationAmt |
| Book Value | $112,160,594 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $1,444,463,472 | TotalBookValueLandBuildingsAmt |
Invst Program Related Org InvstProgramRelatedOrgGrp (5 entries)
| DescDesc | Book ValueBookValueAmt | Method ValuationMethodValuationCd |
|---|---|---|
| NUCLEAR DECOMMISSIONING TRUST | $102,554,888 | F |
| INVESTMENT - FEDERAL ECONOMIC DEV FUNDS | $1,259,259 | C |
| INVESTMENT - CAPITAL TERM CERTIFICATES | $6,223,283 | C |
| INVESTMENT IN ASSOCIATED ORGANIZATIONS | $1,268,105 | C |
| OTHER INVESTMENTS | $3,762,493 | C |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Program Rltd | $115,068,028 | TotalBookValueProgramRltdAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (12 entries)
| DescDesc | AmtAmt |
|---|---|
| ACCUM. PROVISION FOR PENSIONS & BENEFITS | $15,104,632 |
| ASSET RETIREMENT OBLIGATIONS | $121,480,980 |
| CAPITAL LEASE - DISSOLVED | $677,264 |
| DEFERRED CREDIT - POWER COST ADJUSTMENT | $22,380,000 |
| DEFERRED CREDIT - ECONOMIC DEVELOPMENT GRANTS | $5,842,534 |
| DEFERRED CREDIT - POWER SUPPLY DEVELOPMENT FUND | $100,496,164 |
| DEFERRED CREDIT - DEPRECIATION & AMORTIZATION FUND | $10,000,000 |
| DEFERRED CREDIT - MEDICAL INSURANCE CONTRIBUTION ACCT. | $4,524,347 |
| DEFERRED CREDIT - QUALITY OF LIFE FUND | $18,553 |
| UNREALIZED GAIN DECOMMISSIONING TRUST | $12,998,353 |
| UNREALIZED GAIN NATURAL GAS HEDGES | $3,481,661 |
| UNREALIZED GAIN - FINANCIAL TRANSMISSION RIGHTS | $249,213 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $297,253,701 | TotalLiabilityAmt |
| Total Rev Etc Audited Fincl Stmt | $738,835,910 | TotalRevEtcAuditedFinclStmtAmt |
| Revenue Not Reported | $0 | RevenueNotReportedAmt |
| Revenue Subtotal | $738,835,910 | RevenueSubtotalAmt |
| Other Revenues Not Included | $12,340,004 | OtherRevenuesNotIncludedAmt |
| Revenue Not Reported Fincl Stmt | $12,340,004 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $751,175,914 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $731,175,914 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Not Reported | $0 | ExpensesNotReportedAmt |
| Expenses Subtotal | $731,175,914 | ExpensesSubtotalAmt |
| Other Expenses Not Included | $20,000,000 | OtherExpensesNotIncludedAmt |
| Expenses Not Rpt Fincl Stmt | $20,000,000 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $751,175,914 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART XI, LINE 4B - OTHER ADJUSTMENTS: | OTHER ADJUSTMENTS: INTEREST INCOME IN THE AMOUNT OF $4,739,876, OTHER NON-OPERATING INCOME IN THE AMOUNT OF $7,281,809, AND PATRONAGE INCOME IN THE AMOUNT OF $318,319 ARE SHOWN AS NON-OPERATING MARGINS IN THE AUDITED FINANCIALS, BUT INCLUDED AS REVENUE ON FORM 990. 12,340,004. |
| PART XII, LINE 4B - OTHER ADJUSTMENTS: | OTHER ADJUSTMENTS: 2020 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 2020 FOR THIS ALLOCATED PATRONAGE CAPITAL. 20,000,000. |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (1) | GrantRecordsMaintainedInd |
Recipient Table RecipientTable (10 entries)
| Recipient EINRecipientEIN | Cash GrantCashGrantAmt | Purpose Of GrantPurposeOfGrantTxt | IRC SectionIRCSectionDesc |
|---|---|---|---|
| ECONOMIC DEVELOPMENT AUTHORITY OF COAHOMA COUNTY | |||
| 203921327 | $25,000 | ECONOMIC DEVELOPMENT | |
| NORTH CENTRAL PLANNING AND DEVELOPMENT DISTRICT | |||
| 640473694 | $25,000 | ECONOMIC DEVELOPMENT | 501C3 |
| GREENWOOD LEFLORE CARROLL ECONOMIC DEVELOPMENT FOUNDATION | |||
| 640640864 | $9,167 | ECONOMIC DEVELOPMENT | 501C6 |
| CARROLL COUNTY BOARD OF SUPERVISORS | |||
| 646000202 | $25,000 | ECONOMIC DEVELOPMENT | |
| GREENWOOD LEFLORE CARROLL ECONOMIC DEVELOPMENT FOUNDATION | |||
| 640640864 | $20,000 | ECONOMIC DEVELOPMENT | 501C6 |
| MARION COUNTY DEVELOPMENT DISTRICT | |||
| 450502805 | $25,000 | ECONOMIC DEVELOPMENT | |
| STONE COUNTY ECONOMIC DEVELOPMENT PARTNERSHIP | |||
| 640926297 | $25,000 | ECONOMIC DEVELOPMENT | 501C6 |
| JACKSON COUNTY ECONOMIC DEVELOPMENT FOUNDATION | |||
| 640838516 | $25,000 | ECONOMIC DEVELOPMENT | |
| BROOKHAVEN LINCOLN COUNTY ECONOMIC DEVELOPMENT ALLIANCE | |||
| 300429615 | $25,000 | ECONOMIC DEVELOPMENT | |
| BROOKHAVEN LINCOLN COUNTY ECONOMIC DEVELOPMENT ALLIANCE | |||
| 300429615 | $25,000 | ECONOMIC DEVELOPMENT | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total501c3 Org | 1 | Total501c3OrgCnt |
| Total Other Org | 10 | TotalOtherOrgCnt |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| 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 |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Substantiation Required | Yes (1) | SubstantiationRequiredInd |
| Independent Consultant | Yes (X) | IndependentConsultantInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | 0 | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (9 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Bonus Related OrganizationsBonusRelatedOrganizationsAmt | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt | Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| JEFF BOWMAN | ||||||||||||||
| PRESIDENT/CEO | $627,800 | $0 | $8,571 | $0 | $7,395 | $0 | $123,023 | $0 | $21,073 | $0 | $787,862 | $0 | $0 | $0 |
| NATHAN BROWN | ||||||||||||||
| SR. VICE PRESIDENT/ COO | $471,703 | $0 | $16,065 | $0 | $9,789 | $0 | $223,309 | $0 | $21,083 | $0 | $741,949 | $0 | $0 | $0 |
| TOM HALL | ||||||||||||||
| SR. VICE PRESIDENT/ CFO | $367,150 | $0 | $14,787 | $0 | $9,872 | $0 | $194,943 | $0 | $21,083 | $0 | $607,835 | $0 | $0 | $0 |
| CHRISTA BISHOP | ||||||||||||||
| SR VICE PRESIDENT/CCO | $257,222 | $0 | $10,961 | $0 | $8,585 | $0 | $85,122 | $0 | $20,131 | $0 | $382,021 | $0 | $0 | $0 |
| STEVE MCELHANEY | ||||||||||||||
| SR VICE PRESIDENT/COMPLIAN | $236,715 | $0 | $8,707 | $0 | $10,055 | $0 | $121,342 | $0 | $19,848 | $0 | $396,667 | $0 | $0 | $0 |
| BRAD WOLFE | ||||||||||||||
| SR VICE PRESIDENT/POWER DE | $285,472 | $0 | $10,172 | $0 | $4,296 | $0 | $139,290 | $0 | $20,702 | $0 | $459,932 | $0 | $0 | $0 |
| MARK SMITH | ||||||||||||||
| SR VICE PRESIDENT POWER GENERATION | $233,248 | $0 | $10,449 | $0 | $6,547 | $0 | $108,671 | $0 | $19,773 | $0 | $378,688 | $0 | $0 | $0 |
| CHRIS RHODES | ||||||||||||||
| SR VICE PRESIDENT ADMIN | $233,506 | $0 | $4,410 | $0 | $1,974 | $0 | $0 | $0 | $0 | $0 | $239,890 | $0 | $0 | $0 |
| DON HINTON | ||||||||||||||
| VICE PRESIDENT- GENERAL COUNSEL | $179,439 | $0 | $7,337 | $0 | $12,966 | $0 | $40,624 | $0 | $18,940 | $0 | $259,306 | $0 | $0 | $0 |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (9 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| 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 2020 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 QUESTIONAIRE RELATIVE TO INDEPENDENCE, BUSINESS RELATIONSHIPS, ETC. |
| FORM 990, PART VI, SECTION B, LINE 15 | TO ENSURE COOPERATIVE ENERGY'S WAGES ARE COMPETETIVE, FAIR AND EQUITABLE, COOPERATIVE ENERGY UTILIZES A VARIETY OF DATA SOURCES TO INFORM MANAGEMENT AND THE BOARD OF DIRECTORS OF COMPENSATION MARKET DATA AND TRENDS. TO ASSESS COMPARABILITY DATA REGARDING COMPENSATION PRACTICES, COOPERATIVE ENERGY PARTICIPATED IN BOTH OLD DOMINION ELECTRIC COOPERATIVE'S 2020 CEO COMPENSATION SURVEY AND 2020 EXECUTIVE COMPENSATION SURVEY AND SECURED A COMPENSATION CONSULTANT TO ASSESS THE VALUATION OF THE CEO AND THE EXECUTIVE MANAGEMENT POSITIONS. UTILIZING THE SURVEYS AND POSITION VALUATIONS, THE CEO'S SALARY WAS DETERMINED BY THE BOARD OF DIRECTORS, AND THE EXECUTIVE MANAGEMENT SALARIES WERE DETERMINED BY THE CEO AND APPROVED BY THE BUDGET AND FINANCE COMMITTEE AND 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 2019 REPORTING. COOPERATIVE ENERGY DOES NOT INCLUDE THIS ALLOCATION OF PATRONAGE CAPITAL AS AN EXPENSE FOR FINANCIAL REPORTING. DURING 2020, PATRONAGE CAPITAL AMOUNTING TO $10,000,000 WAS RETIRED. |