2020-11-06T08:30:26-06:00 2019-12-31 990 2019-01-01 640367992 COOPERATIVE ENERGY COOP 6012682083 PO BOX 15849 HATTIESBURG MS 394045849 THOMAS HALL CHIEF FINANCIAL OFFICER 6012682083 2020-11-05 96.84.140.121 2020-11-05 08:18:59 CS P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 6C9B1A35775087DBDB8A6D25ECA509C7F6C27838 2019 2021-04-22 16:20:28Z JEFF BOWMAN PO BOX 15849 HATTIESBURG MS 394045849 771252916 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 24 539 0 0 0 0 0 829604743 771104661 108130 148255 0 0 829712873 771252916 147500 560535 26000000 20000000 58757867 58214173 0 0 0 744807506 692478208 829712873 771252916 0 0 1650034913 1931402055 1240419170 1506283243 409615743 425118812 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 432,000 METERS IN MISSISSIPPI. COOPERATIVE ENERGY AND THE 11 MEMBER SYSTEMS ARE CONSUMER-OWNED, NON-PROFIT BUSINESSES. DURING 2019, COOPERATIVE ENERGY PROVIDED MEMBER SYSTEMS WITH 9,987,133 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 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 192 0 1 539 1 0 0 0 0 0 689191992 81912670 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 THOMAS HALL 6012682083 7037 HWY 49 N HATTIESBURG MS 39402 GILBERT ARCENEAUX DIRECTOR 6.38 X 40444 0 0 RONALD G BARNES DIRECTOR 4.32 X X 42292 0 0 KEVIN BONDS DIRECTOR 4.36 X 34800 0 0 JOEL CUNNINGHAM DIRECTOR 4.33 X 36320 0 0 ROY GRAFE DIRECTOR 3.10 X 34212 0 0 WILLIAM HARDIN DIRECTOR 6.50 X 38994 0 0 BEN F HUDSON JR DIRECTOR 3.27 X 32846 0 0 BRIAN HUGHEY DIRECTOR 3.97 X 38000 0 0 KEITH HURT DIRECTOR 8.23 X 43025 0 0 MACK MAULDIN DIRECTOR 3.80 X X 37536 0 0 CHARLES MOORE DIRECTOR 1.73 X 17348 0 0 ELIZABETH MOSBY DIRECTOR 2.96 X 19051 0 0 DAVID O'BRYAN DIRECTOR 6.00 X 39600 0 0 TIM PERKINS DIRECTOR 6.55 X 42000 0 0 JASON SIEGFRIED DIRECTOR 5.00 X 35200 0 0 W DARRELL SMITH DIRECTOR 10.55 X 44000 0 0 RANDY SMITH DIRECTOR 4.65 X 40466 0 0 LOUIS THOMPSON DIRECTOR 4.88 X X 46351 0 0 RICHARD THOMS DIRECTOR 5.13 X 37729 0 0 JAMES VENTRESS DIRECTOR 4.17 X 20599 0 0 RANDY WALLACE DIRECTOR 7.83 X 40974 0 0 HENRY C WATERER JR DIRECTOR 3.42 X 42099 0 0 RON WHITE DIRECTOR 2.76 X 36400 0 0 DENNIS WILSON DIRECTOR 2.69 X 35051 0 0 RANDY WOOLLEY DIRECTOR 4.71 X 18415 0 0 CINDY SHIPP DIRECTOR 2.02 X 18201 0 0 BURNELL NEWSOME DIRECTOR 3.00 X 13868 0 0 JIM COMPTON RETIRED PRESIDENT/CEO 48.00 X 901174 0 113540 JEFF BOWMAN SR VICE PRESIDENT/CEO 52.00 X 491996 0 89993 NATHAN BROWN SR. VICE PRESIDENT/ COO 50.00 X 490103 0 173607 TOM HALL SR. VICE PRESIDENT/ CFO 50.00 X 369233 0 156053 CHRISTA BISHOP SR VICE PRESIDENT/CCO 48.00 X 249090 0 71272 BRAD WOLFE SR VICE PRESIDENT/POWER DE 42.00 X 295141 0 130982 BRAD EDWARDS VICE PRESIDENT/ POWER PROD 46.50 X 276695 0 119103 GARY HUTSON VICE PRESIDENT/ POWER SUPP 50.00 X 221853 0 70264 STEVE MCELHANEY SR VICE PRESIDENT/COMPLIAN 45.00 X 238252 0 111805 CHRIS RHODES SR VICE PRSIDENT/ADMIN 50.00 X 195717 0 62421 4655075 0 1099040 94 0 1 0 SIEMENS ENERGY 4400 ALAFAYA TRAIL ORLANDO FL 32826 PLANT MAINTENANCE SERVICES 14096217 BURNS AND MCDONNELL ENG CO INC 9400 WARD PKWY KANSAS CITY MO 64114 ENGINEERING & CAP PROJECT 13266752 NORTHSTAR DEMOLITION & REMEDIATION 370 SEVENTH AVE NEW YORK NY 10001 PLANT DEMOLITION 6503263 MAC'S CONSTRUCTION CO 6555 US HWY 98 W HATTIESBURG MS 39402 BLDG CONST & RENO 6248162 WARTSILA NORTH AMERICA INC 11710 N GESSNER RD STE A HOUSTON TX 77064 RECIP ENGINE PROJECT 6033846 91 REVENUE FROM MEMBERS 221000 689191992 689191992 REVENUE FROM NON-MEMBERS 221000 69813306 69813306 PROGRAM RELATED INVESTMENTS 221000 12099363 12099363 771104661 148255 0 148255 148255 148255 771252916 771252916 0 0 560535 20000000 5465330 35932115 7223834 6098895 3493999 705891 228550 340036 698613 1642882 3199029 1070978 852647 39741301 77950380 7374141 PURCHASED POWER FOR RES 321347711 NATURAL GAS, NUCLEAR FU 132164351 GENERATION PLANT OPERAT 50761051 TRANSMISSION SYSTEM OPE 43342254 11058393 771252916 5918611 4008738 36673987 237482999 64076893 64751961 38011234 39619275 196943157 191161415 2275102414 985222247 1220068013 1289880167 88242434 104264366 100584 233134 1650034913 1931402055 156645455 172039506 32220000 0 665642402 1047563403 180504532 4283760 205406781 282396574 1240419170 1506283243 X 0 0 0 0 409615743 425118812 409615743 425118812 1650034913 1931402055 X 0 15503069 X X 0 1 X 1 1 1 47378568 47378568 396046534 59620519 336426015 3393307 765937 2627370 1575426579 904830596 670595983 252857426 20005195 232852231 1289880167 NUCLEAR DECOMMISSIONING TRUST 91657541 F INVESTMENT - FEDERAL ECONOMIC DEV FUNDS 1481481 C INVESTMENT - CAPITAL TERM CERTIFICATES 6242694 C INVESTMENT IN ASSOCIATED ORGANIZATIONS 1241859 C OTHER INVESTMENTS 3640791 C 104264366 ACCUM. PROVISION FOR PENSIONS & BENEFITS 13898407 ASSET RETIREMENT OBLIGATIONS 114969435 CAPITAL LEASE - DISSOLVED 762812 DEFERRED CREDIT - POWER COST ADJUSTMENT 25561000 DEFERRED CREDIT - ECONOMIC DEVELOPMENT GRANTS 5230324 DEFERRED CREDIT - POWER SUPPLY DEVELOPMENT FUND 79898614 DEFERRED CREDIT - DEPRECIATION & AMORTIZATION FUND 10000000 DEFERRED CREDIT - MEDICAL INSURANCE CONTRIBUTION ACCT. 3454696 DEFERRED CREDIT - QUALITY OF LIFE FUND 18553 UNREALIZED GAIN DECOMMISSIONING TRUST 12207766 UNREALIZED GAIN NATURAL GAS HEDGES 15110683 UNREALIZED GAIN - FINANCIAL TRANSMISSION RIGHTS 1284284 282396574 759289186 0 759289186 11963730 11963730 771252916 751252916 0 751252916 20000000 20000000 771252916 PART XI, LINE 4B - OTHER ADJUSTMENTS: OTHER ADJUSTMENTS: INTEREST INCOME IN THE AMOUNT OF $11,531,665, OTHER NON-OPERATING INCOME IN THE AMOUNT OF ($135,632), AND PATRONAGE INCOME IN THE AMOUNT OF $567,698 ARE SHOWN AS NON-OPERATING MARGINS IN THE AUDITED FINANCIALS, BUT INCLUDED AS REVENUE ON FORM 990. 11,963,730. PART XII, LINE 4B - OTHER ADJUSTMENTS: OTHER ADJUSTMENTS: 2019 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 2019 FOR THIS ALLOCATED PATRONAGE CAPITAL. 20,000,000. 1 MTK'S CAMP KAMASSA PO BOX 520 CRYSTAL SPRINGS MS 39059 262784330 501(C)(3) 240785 ECONOMIC DEVELOPMENT CITY OF DIAMONDHEAD MS 5000 DIAMONDHEAD CIRCLE DIAMONDHEAD MS 39525 454475966 25000 ECONOMIC DEVELOPMENT ECONOMIC DEVELOPMENT AUTHORITY OF JONES COUNTY 153 BASE DR 1 LAUREL MS 39440 640688690 100000 ECONOMIC DEVELOPMENT ECONOMIC DEVELOPMENT CENTER OF WASHINGTON COUNTY PO BOX 933 GREENVILLE MS 387020933 208973389 501(C)(6) 25000 ECONOMIC DEVELOPMENT GULF COAST BUSINESS COUNCIL 11975 SEAWAY RD A120 GULFPORT MS 39503 205237349 501(C)(6) 25000 ECONOMIC DEVELOPMENT HANCOCK COUNTY PORT & HARBOR COMMISSION 14054 FRED AND AL KEY RD KILN MS 39556 640440746 25000 ECONOMIC DEVELOPMENT JACKSON COUNTY ECONOMIC DEVELOPMENT FOUNDATION 3033 PASCAGOULA ST PASCAGOULA MS 39568 640838516 25000 ECONOMIC DEVELOPMENT NATCHEZ INC 100 S PEARL ST NATCHEZ MS 39121 271683579 501(C)(6) 25000 ECONOMIC DEVELOPMENT NETTERVILLE LUMBER 3975 BUFFALO RD WOODVILLE MS 39669 640442540 25000 ECONOMIC DEVELOPMENT PEARL RIVER COMMUNITY COLLEGE 101 US-11 POPLARVILLE MS 39470 640750513 25000 ECONOMIC DEVELOPMENT WALTHALL COUNTY BOARD OF SUPERVISORS 200 BALL AVE TYLERTOWN MS 39667 646001183 19750 ECONOMIC DEVELOPMENT 1 10 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 0 0 0 JIM COMPTON RETIRED PRESIDENT/CEO 788622 0 107720 0 4832 0 92846 0 20694 0 1014714 0 0 0 JEFF BOWMAN SR VICE PRESIDENT/CEO 485527 0 0 0 6469 0 69044 0 20949 0 581989 0 0 0 NATHAN BROWN SR. VICE PRESIDENT/ COO 477864 0 7140 0 5099 0 152649 0 20958 0 663710 0 0 0 TOM HALL SR. VICE PRESIDENT/ CFO 352794 0 5569 0 10870 0 135104 0 20949 0 525286 0 0 0 CHRISTA BISHOP SR VICE PRESIDENT/CCO 237454 0 5200 0 6436 0 51982 0 19290 0 320362 0 0 0 BRAD WOLFE SR VICE PRESIDENT/POWER DE 283098 0 4341 0 7702 0 110529 0 20453 0 426123 0 0 0 BRAD EDWARDS VICE PRESIDENT/ POWER PROD 263541 0 5516 0 7638 0 98766 0 20337 0 395798 0 0 0 GARY HUTSON VICE PRESIDENT/ POWER SUPP 209855 0 3212 0 8786 0 51091 0 19173 0 292117 0 0 0 STEVE MCELHANEY SR VICE PRESIDENT/COMPLIAN 227248 0 3585 0 7419 0 92300 0 19505 0 350057 0 0 0 CHRIS RHODES SR VICE PRSIDENT/ADMIN 188847 0 4700 0 2170 0 43802 0 18619 0 258138 0 0 0 A MISSISSIPPI BUSINESS FINANCE CORPORATION 640679132 60528BAP7 2008-10-08 24530000 SEE PART VI 0 0 0 B MISSISSIPPI BUSINESS FINANCE CORPORATION 640679132 60528BAN2 2008-10-08 11890000 SEE PART VI 0 0 0 A 24530000 309794 76276 24143930 2009 1 0 1 1 B 1115000 11890000 150161 36972 11702867 2009 1 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 B 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 0 0 0 1 LEHMAN BROTHERS SPEC 30.000000000000 0 1 0 0 0 B 0 0 0 0 0 1 LEHMAN BROTHERS SPEC 30.000000000000 0 1 0 0 0 A 0 B 0 PART I(F) PURPOSE THE PURPOSE OF THE BOND ISSUE IS FOR COOPERATIVE ENERGY TO CONSTRUCT AND INSTALL APPROXIMATELY 2.3 MILES OF NEW 115KV POWER LINES AND SWITCHING STATIONS IN YAZOO CITY, MS AND 2.8 MILES OF NEW 115KV POWER LINES AND SWITCHING STATIONS IN ADAMS COUNTY, MS. BOND PROCEEDS HAVE ALSO BEEN USED FOR THE PURPOSE OF CONSTRUCTION AND/OR PURCHASE AND INSTALLATION OF FIXED IMPROVEMENTS IN CONNECTION THEREWITH OF THE FOLLOWING PROJECTS LOCATED AT THE FOLLOWING ADDRESSES: 1. HEADQUARTERS EXPANSION LOCATED AT 7037 US HWY 49, HATTIESBURG, MS 2. FIELD OPERATIONS CENTER LOCATED AT 3492 HWY 42, HATTIESBURG, MS 3. PLANT MORROW FACITILITES, BUILDING AND OFFICE RENOVATION LOCATED AT 304 OLD OKAHOLA ROAD, PURVIS, MS 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 COPERATIVE ENERGY'S BOARD OF DIRECTORS ARE GENERAL MANAGER OF THE MEMBER COPERATIVE. 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 2019 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 COOPERATIVE ENERGY USES SEVERAL MEANS TO INFORM MANAGEMENT AND THE BOARD OF MARKET CHANGES IN COMPENSATION SO AS TO OFFER COMPETITIVE PAY TO TECHNICAL AND MANAGERIAL EMPLOYEES. IN 2018, COOPERATIVE ENERGY PARTICIPATED IN A SURVEY BY OLD DOMINION ELECTRIC COOPERATIVE WHICH COVERED THE CEO AND TOP MANAGEMENT POSITIONS. THAT SURVEY WAS SHARED WITH THE BOARD. IN 2019, THE COOPERATIVE'S COMPENSATION CONSULTANT UPDATED THE SALARIED PLAN RANGES BASED ON MARKET DATA AND ALSO CONDUCTED A COMPETITIVE ANALYSIS ON THE HOURLY SKILLED POSITIONS. USING THE OLD DOMINION SURVEY, THE BOARD SETS THE CEO'S SALARY. THE COOPERATIVE'S COMPENSATION CONSULTANT ALSO UPDATED SALARY RANGES FOR ALL IN TOP MANAGEMENT AND, BASED UPON THAT MARKET INFORMATION AND THE CONSULTANT'S RECOMMENDATIONS, SALARIES FOR TOP MANAGEMENT WERE SET 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 CHANGES IN NET ASSETS 15,503,069. 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 2019, PATRONAGE CAPITAL AMOUNTING TO $4,496,931 WAS RETIRED. FORM 990, PART XII, LINE 2C: THERE WERE NO CHANGES IN THE PROCESS FOR THE 2019 TAX YEAR.