2020-11-13T14:58:47-06:00 2019-12-31 205857627 TMH P O DRAWER 15099 HATTIESBURG MS 394045099 990 2019-01-01 640219645 PEARL RIVER VALLEY ELECTRIC POWER ASSOCIATION PEAR 6017362666 POST OFFICE BOX 1217 COLUMBIA MS 394291217 RANDY WALLACE GENERAL MANAGER 6017362666 2020-11-13 1 SUSAN A RILEY CPA P00144776 6012643519 2020-10-15 173.235.40.90 2020-11-13 14:55:49 CS P 8EDFB643B0495002D8ACCF12EDDFB55D4EAE2419 4122E503A867F931AE72AA6491E103B8815F84E0 2019 2022-01-07 14:23:13Z RANDY WALLACE POST OFFICE BOX 1217 COLUMBIA MS 394291217 128852955 0 X WWW.PRVEPA.COM X 1938 MS THE ASSOCIATION'S MISSION IS TO PROVIDE ELECTRIC POWER TO RESIDENTIAL AND COMMERICAL CUSTOMERS. 10 0 137 0 0 0 0 0 128398655 128723309 79306 111435 21896 9678 128499857 128844422 0 0 7903255 8506066 12274537 12362725 0 0 0 107882906 108159503 128060698 129028294 439159 -183872 245224057 252253554 141570674 152649872 103653383 99603682 THE ASSOCIATION'S MISSION IS TO PROVIDE ELECTRIC POWER TO RESIDENTIAL AND COMMERICAL CONSUMERS. 0 0 PRVEPA PROVIDED ELECTRIC POWER TO 50,466 CONSUMERS DURING 2019. 0 0 0 0 0 0 0 0 0 1 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 1 24 0 1 137 1 0 0 0 0 0 0 0 128972368 2155924 0 0 0 X 10 0 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X RANDY WALLACE 6017362666 HIGHWAY 13 NORTH COLUMBIA MS 39429 BYRUS HURT DIRECTOR 1.70 X 19500 0 0 WA KENDRICK DIRECTOR 6.10 X 24300 0 0 LAVELL BOND SECRETARY/TREASURER 7.10 X X 25800 0 0 BF HUDSON JR DIRECTOR 8.40 X 26100 0 0 HUGH GENE SMITH PRESIDENT 7.10 X X 27100 0 0 LAWRENCE W WARREN DIRECTOR 1.00 X 18000 0 0 DANNY WILKS VICE PRESIDENT 13.10 X X 24300 0 0 LESLIE PETERS DIRECTOR 4.60 X 21300 0 0 JACK BRADSHAW DIRECTOR 5.70 X 21900 0 0 MATT THOMAS DIRECTOR 9.40 X 25200 0 0 RANDY WALLACE GENERAL MANAGER 50.00 X 346939 0 31800 MATTHEW WARE OPERATIONS MANAGER 50.00 X 174440 0 34214 KURT BRAUTIGAM MEMBER SERVICES MANAGER 40.00 X 136569 0 18351 ANTHONY HARRIS DISTRICT MANAGER 40.00 X 141201 0 28815 KEITH ARMSTRONG MATERIALS MANAGER 40.00 X 125259 0 27760 GEORGE CUTRER DISTRICT MANAGER 40.00 X 133008 0 27774 WILLIAM MCCRARY DISTRICT MANAGER 40.00 X 127946 0 27740 WILLIAM PITTMAN FORMER FINANCIAL MGR 50.00 X 113769 0 18560 1532631 0 215014 23 1 1 0 LOOKS GREAT SERVICES 1501 HIGHWAY 13 NORTH COLUMBIA MS 39429 RIGHT OF WAY MAINT 5177616 MDR CONSTRUCTION 621 E BAYLIS CHAPEL ROAD COLUMBIA MS 39429 CONSTRUCTION 476941 DUNGAN ENGINEERING 1574 HWY 98 EAST COLUMBIA MS 39429 CIVIL ENGINEERING 326283 JENKINS WEED CONTROL PO BOX 3119 OXFORD MS 38655 RIGHT OF WAY HERBICIDE APP 150250 SOUTHEAST WOODLAND SERVICES 431 CAINES LANDING RD CONWAY SC 29526 RIGHT OF WAY MAINTENANCE 137797 5 ELECTRIC SALES MEMBER 221000 124373729 124373729 PATRONAGE CREDITS 221000 3253816 3253816 COMMON USE POLE RENTAL 221000 1095764 1095764 128723309 80268 80268 39700 8533 31167 31167 31167 MISCELLANEOUS INCOME 221000 9600 9600 METER SOCKET SALES 221000 78 78 9678 128844422 128844422 0 0 8506066 868947 4593995 2975740 3364800 559243 47644 139577 787603 162973 4579525 7021284 COST OF PURCHASED POWER 85111864 DISTRIBUTION- MAINTENAN 6630630 ADMINISTRATIVE & GENERA 1216856 CONSUMER ACCOUNTS 954609 1506938 129028294 1784629 2365943 13570622 12041171 3079773 3041208 294083 306896 269491765 93004689 170801326 176487076 55693624 58011260 245224057 252253554 10635126 7444277 5668417 4847417 97691528 102470851 27575603 37887327 141570674 152649872 X 315875 314890 608062 608062 102729446 98680730 103653383 99603682 245224057 252253554 X -183872 -3865829 X X 0 1 X 1 0 269491765 93004689 176487076 176487076 INTEREST & DIVIDEND INCOME REC 542619 PATRONAGE CAPITAL 57468641 58011260 CONSUMER DEPOSITS 4496572 OTHER LIABILITY-POST RETIREMENT BENEFIT-PENSION 33354829 CURRENT PORTION-UNDERFUNDED POST RET 35926 37887327 X 128844425 3 3 128844422 0 128844422 120522228 0 120522228 8506066 8506066 129028294 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: ROUNDING 3. PART XII, LINE 4B - OTHER ADJUSTMENTS: PATRONAGE CAPITAL 8,506,066. SCHEDULE D, PART XII,LINE 4B 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 2018 TO 2019 IN THE AMOUNT OF $183,869. PATRONAGE CAPITAL REFLECTS THE CHANGE IN UNBILLED REVENUE. 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 AS GENERALLY ACCEPTED ACCOUNTING PRINCIPLES (GAAP) DOES NOT RECOGNIZE PATRONAGE DIVIDENDS PAID AS AN EXPENSE IN THE AMOUNT OF $8,506,066. X X 0 0 0 RANDY WALLACE GENERAL MANAGER 346939 0 0 0 0 0 21077 0 10723 0 378739 0 0 0 MATTHEW WARE OPERATIONS MANAGER 174440 0 0 0 0 0 20265 0 13949 0 208654 0 0 0 KURT BRAUTIGAM MEMBER SERVICES MANAGER 136569 0 0 0 0 0 13007 0 5344 0 154920 0 0 0 ANTHONY HARRIS DISTRICT MANAGER 141201 0 0 0 0 0 14866 0 13949 0 170016 0 0 0 KEITH ARMSTRONG MATERIALS MANAGER 125259 0 0 0 0 0 13811 0 13949 0 153019 0 0 0 GEORGE CUTRER DISTRICT MANAGER 133008 0 0 0 0 0 13825 0 13949 0 160782 0 0 0 WILLIAM MCCRARY DISTRICT MANAGER 127946 0 0 0 0 0 13791 0 13949 0 155686 0 0 0 WILLIAM PITTMAN FORMER FINANCIAL MGR 113769 0 0 0 0 0 9226 0 9334 0 132329 0 0 0 COOPERATIVE ENERGY RANDY WALLACE, OFFICER, IS A BOARD MEMBER FOR COOPERATIVE ENERGY. 85111864 EXPENSE- THE ORGANIZATION PURCHASES ITS POWER FROM COOPERATIVE ENERGY 0 FIRST SOUTHERN BANK RANDY WALLACE, OFFICER, IS A BOARD MEMBER FOR FIRST SOUTHERN. 1854382 CASH ACCOUNT 0 COOPERATIVE ENERGY RANDY WALLACE, OFFICER, IS A BOARD MEMBER FOR COOPERATIVE ENERGY. 3094955 CURRENT LIABILITY- THE ORGANIZATION PURCHASES ITS POWER FROM COOPERATIVE ENERGY 0 COOPERATIVE ENERGY B.F. HUDSON, DIRECTOR, IS A BOARD MEMBER FOR COOPERATIVE ENERGY. 85111864 EXPENSE- THE ORGANIZATION PURCHASES ITS POWER FROM COOPERATIVE ENERGY 0 COOPERATIVE ENERGY B.F. HUDSON, DIRECTOR, IS A BOARD MEMBER FOR COOPERATIVE ENERGY. 3094955 CURRENT LIABILITY- THE ORGANIZATION PURCHASES ITS POWER FROM COOPERATIVE ENERGY 0 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 MANAGER OF ACCOUNTING AND FINANCIAL SERVICES PROVIDES THE INDEPENDENT AUDITORS WITH INFORMATION USED IN PREPARING THE FORM 990. THE COMPLETED FORM IS THEN REVIEWED BY THE MANAGER OF ACCOUNTING AND FINANCIAL SERVICES AND BY THE GENERAL MANAGER. THE GENERAL MANAGER 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. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION OF THE GENERAL MANAGER 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, 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 5,771,259. DEFINED BENEFIT PLAN NET GAIN (LOSS) -9,422,269. CHANGE IN MEMBERSHIPS -985. INTEREST RATE SWAP NET GAIN/(LOSS) -213,837. ROUNDING 3. PART XII LINE 2C PROCESS HAS NOT CHANGED FROM PRIOR YEAR