2020-11-12T14:43:21-06:00 2019-12-31 631035228 Jackson Thornton & Co PC PO Box 96 Montgomery AL 361010096 990 2019-01-01 640243969 Southern Pine Electric Cooperative SOUT 6017856511 PO Box 60 Taylorsville MS 391680060 Ann S Hamm VP of Finance 6017856511 2020-11-09 1 Patrick Cooper P00856177 3348347660 2020-11-09 142.154.130.164 2020-11-09 15:19:44 CS P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 6C9B1A35775087DBDB8A6D25ECA509C7F6C27838 2019 2022-01-07 14:23:13Z Southern Pine Electric Chris K Rhodes PO Box 60 Taylorsville MS 391680060 207111552 0 X www.southernpine.coop X 1938 MS The mission of Southern Pine Electric's Board of Directors and employees is to enhance the quality of life of our members and community by safely providing reliable electric energy at an affordable price. 12 12 253 0 0 0 0 0 206735970 204571741 1157730 450970 1351375 2088841 209245075 207111552 0 0 11107586 12234083 1690744 1511563 0 0 0 196446745 193365906 209245075 207111552 0 0 475847972 480772681 197326592 193868202 278521380 286904479 The mission of Southern Pine Electric's Board of Directors and employees is to enhance the quality of life of our members and community by safely providing reliable electric energy at an affordable price. 0 0 Southern Pine Electric Cooperative is an electric distribution cooperative that provided service to approximately 68,129 meters in south central Mississippi. Utilizing its 10,494 miles of electric distribution lines, Southern Pine Electric sold 1,845,412,777 kilowatt hours of electric energy to its members. 0 0 0 0 0 0 0 0 0 1 0 1 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 145 0 1 253 1 0 0 0 0 0 0 0 199921813 5828316 0 0 0 X 12 12 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X Ann Susan Hamm 6017856511 13491 Hwy 28W Taylorsville MS 39168 Billy M Berry Chariman/Director 30.30 X X 58081 0 0 Mims W Berry Director 18.90 X 36365 0 0 Charles Lowe Director 28.00 X 53712 0 0 Marcus Martin Vice-Chairman/Director 16.40 X X 32113 0 0 Haskins Montgomery Director 21.40 X 41128 0 0 Billy Parish Director 18.50 X 35517 0 0 Greg Sullivan Director 27.80 X 53450 0 0 David Tadlock Director 21.20 X 40704 0 0 Richard Thoms Secretary/Director 20.90 X X 40185 0 0 Charles Waldrup Director 16.30 X 31320 0 0 Fountaine McNair Director 13.40 X 25663 0 0 Jeffery Simms Director 15.50 X 29833 0 0 Joseph L Craft Director 5.40 X 10281 0 0 Jason S Siegfried President / CEO 60.00 X 306795 0 90573 Ann S Hamm VP of Finance 65.00 X 147932 0 84636 Donald L Jordan Executive VP 20.00 X 172130 0 31 Jim Jordan VP of Engineering 50.00 X 160337 0 60777 John Joseph Hardin Staff Assistant 45.00 X 138620 0 51642 Robert Chad Lewis VP of Operations 50.00 X 154311 0 41601 Ollen D McAlpin VP of Administration 45.00 X 124317 0 21308 Michael Polk VP of Technology 45.00 X 126900 0 23966 Billy D Bradshaw Serviceman 70.00 X 122536 0 31928 1942230 0 406462 25 0 1 0 Larry J Sumrall Contractors Inc PO Box 4190 Laurel MS 39441 Building Construction 4358459 WA Kendall and Company Inc PO Box 831 Lawrenceville GA 30046 Right of Way Maintenance 1623657 Bush Construction PO Box 8337 Laurel MS 39441 Right of Way Maintenance 1132122 Runnels Contracting LLC PO Box 17856 Hattiesburg MS 39404 Right of Way Maintenance 775075 Holland & Knight LLP PO Box 864084 Orlando FL 32886 Professional Services 526382 15 Sale of Electricity 221000 199921814 199921814 Capital Credits 221000 4649927 4649927 204571741 417386 417386 1361422 0 1361422 1361422 1361422 33584 0 33584 33584 33584 Miscellaneous Revenue 221000 714400 714400 Rebates 221000 13019 13019 727419 207111552 205299160 0 1812392 X 12234083 1511563 6031758 12887590 Cost of Power 140931370 Dist Exp - Maintenance 12930543 Administrative & Genera 10068733 Consumer Accounts Expen 4639033 5876879 207111552 3933186 4418423 3903000 3874000 24160250 22741270 2065510 1685139 6877535 6529013 3843589 3175835 487721140 143782379 339938430 343938761 91126472 94410240 475847972 480772681 24282580 25749116 166159632 161286326 6884380 6832760 197326592 193868202 X 344947 346852 728580 736231 277447853 285821396 278521380 286904479 475847972 480772681 X 0 8383099 X 0 1 X 1 0 1390968 1390968 486330172 143782379 342547793 343938761 Patronage Capital from Associated Cooperatives 91992808 C Capital Term Certificates 2415432 C Membership Fee - CFC 1000 C Cobank Stock 1000 C 94410240 Customer deposits 6832760 6832760 X 206867035 0 206867035 244517 244517 207111552 194632952 0 194632952 12478600 12478600 207111552 Part X, Line 2: Income taxes - The Cooperative is exempt from income taxes under Internal Revenue Code Section 501(c)(12). Management has evaluated the Cooperative's tax positions and concluded that the Cooperative has taken no uncertain tax positions that require adjustment to the financial statements. Part XI, Line 4b - Other Adjustments: Reclassification of revenue/expense items from F/S 244,517. Part XII, Line 4b - Other Adjustments: Margins Assigned to Members 12,234,083. Reclassification of revenue/expense items from F/S 244,517. X X X X 0 0 0 Jason S Siegfried President / CEO 301203 0 0 0 5592 0 70831 0 19742 0 397368 0 0 0 Ann S Hamm VP of Finance 146167 0 0 0 1765 0 78286 0 6350 0 232568 0 0 0 Donald L Jordan Executive VP 172106 0 0 0 24 0 0 0 31 0 172161 0 0 0 Jim Jordan VP of Engineering 153427 0 0 0 6910 0 43652 0 17125 0 221114 0 0 0 John Joseph Hardin Staff Assistant 138050 0 0 0 570 0 44900 0 6742 0 190262 0 0 0 Robert Chad Lewis VP of Operations 149555 0 0 0 4756 0 31060 0 10541 0 195912 0 0 0 Michael Polk VP of Technology 126720 0 0 0 180 0 12544 0 11422 0 150866 0 0 0 Billy D Bradshaw Serviceman 122444 0 0 0 92 0 12946 0 18982 0 154464 0 0 0 Form 990, Part VI, Section A, line 6 Southern Pine Electric Cooperative is a not-for-profit membership organization whose members have identical voting rights and are assigned margins in accordance with the organization's bylaws. Form 990, Part VI, Section A, line 7a Each member is entitled to cast one vote in the election of board members. Form 990, Part VI, Section A, line 7b Cooperative members must approve any disposition of assets in an amount greater than ten percent (10%) of the value of the cooperative and any other items described in the bylaws. Form 990, Part VI, Section B, line 11b The VP of Finance reviewed the completed copy of the Form 990. The Form 990 was then presented to and reviewed with the CEO and board of directors at a board meeting prior to filing the form with the Internal Revenue Service. Form 990, Part VI, Section B, line 12c The President/CEO reviews the conflict of interest policy with the Board of Directors annually to ensure compliance. Form 990, Part VI, Section B, line 15 The compensation of the President/CEO is determined annually by the Board of Directors using compensation studies prepared by independent consultants. The President/CEO determines the compensation of other employees utilizing the same studies as above. Form 990, Part VI, Section C, line 19 Any and all documents, policies, and other records are made available to the public upon request during normal business hours at the headquarters office of the cooperative. The member bylaws and rate schedules are available online at southernpine.coop. Form 990, Part IX, Line 4 The instructions to the 2019 Form 990 indicate that organizations exempt under Section 501 (c)(12) should report "patronage dividends paid" to their members in Part IX, Line 4 of the Form 990. The Cooperative has interpreted the words "patronage dividends paid" in the instructions to mean margins that are assigned or assignable to the members. The Cooperative assigns the net margins to its members each year. Therefore, the amount listed in Part IX, Line 4 represents the net margins assignable to members for the calendar year ended December 31, 2019. Form 990, Part XI, line 9: Changes in Memberships 1,905. Retirement of Capital Credits -4,444,822. Gain on Capital Credits 591,933. Margins Assigned/Assignable to Members 12,234,083.