2025-11-14T16:59:14-06:00 2024-12-31 631035228 Jackson Thornton & Co PC PO Box 96 Montgomery AL 361010096 990 2024-01-01 640169075 Coast Electric Power Association COAS 6625286358 PO Box 2430 Bay St Louis MS 39521 Ron Barnes President & CEO 6625286358 2025-11-05 1 1 Richard B Compton P03317491 3348347660 2025-11-05 2024 2025-03-06 01:10:19Z Ron Barnes PO Box 2430 Bay St Louis MS 39521 254891831 0 X www.coastelectric.coop X 1937 MS To provide electricity to rural areas of Hancock, Harrison, and Pearl River counties. 9 9 315 0 9156170 0 0 0 232496978 242033175 289252 267625 8224620 12591031 241010850 254891831 0 0 12758534 8703990 1980610 2780812 0 0 0 226271706 243407029 241010850 254891831 0 0 559087907 564267244 329560094 328936479 229527813 235330765 We exist to safely provide our member/owners superior service and dependable electricity at the lowest possible price, and to improve the economy and quality of life in our community. 0 0 Utilizing 7,045 miles of electric distribution lines, Coast Electric Power Association provided electric energy to approximately 90,672 residential, commercial and industrial meters located in Harrison, Hancock and Pearl River counties (Mississippi). 0 0 0 0 0 0 0 0 0 1 0 1 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 1 86 0 1 315 1 1 1 0 0 0 0 237769496 11482071 0 0 0 X 9 9 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X Ron Barnes 2283637338 18020 Hwy 603 Kiln MS 39556 Gilbert Arceneaux Director 9.90 0.00 X 41400 0 0 James Baldree Director / Vice Chairman 10.00 0.00 X 46800 0 0 Richard Dossett Director 9.00 1.00 X 41800 0 0 Teri Eaton Director 5.00 0.00 X 38500 0 0 Paul Guichet Director 10.00 7.00 X 49100 0 0 Charles Lopez Director / Treasurer 7.50 7.00 X 47300 0 0 Frank McClinton Director 8.50 4.50 X 37200 0 0 William Mooney Director/Chairman 8.50 0.00 X 41900 0 0 Gordon Redd Jr Director 10.20 6.50 X 43200 0 0 John Holston CFO 39.00 1.00 X 374863 0 123191 Louis Lee Jr COO 55.00 0.00 X 285370 0 68793 Ron Barnes CEO 49.00 0.00 X 541115 0 213239 Wilson Eaton VP of HR and Staff Attorn 40.00 0.00 X 259831 0 64805 Charles S Brown Sr. VP Engineering & Operations 55.00 X 321018 0 141384 Guy Johnson VP ECO 45.00 X 270153 0 85710 Archie Dickens VP Sfty & Comp 40.00 X 245752 0 123141 Melissa Russo VP COMM, PR, MBR SVC 43.00 X 249215 0 57428 Steven Broussard VP of Engineering 55.00 0.00 X 216150 0 137566 Kendall Ladner VP OPS 50.00 0.00 X 206444 0 97061 3357111 0 1112318 92 0 1 0 Ervin Cable Construction LLC PO Box 10 Sturgis KY 42459 Construction-Fiber 5538252 Davey Tree Expert Company 1500 N Mantua St Kent OH 44240 Right of Way Contract 2217174 DCL Construction LLC 26071 Hwy 603 Kiln MS 39556 Line Locates 1287928 ITG Communications LLC 2400 E Commercial Blvd Ste 711 Fort Lauderdale FL 33308 Construction-Fiber Drops 1203315 Corbitt Power & Light LLC PO Box 2368 Albertville AL 35950 Construction - Power Lines 282293 7 Sales of Electricity 221000 237769500 237769500 Patronage Capital 221000 4263675 4263675 242033175 248856 248856 14206733 0 14206733 14206733 9156170 5050563 18769 0 18769 18769 18769 Loss on investment in 900099 -1615702 -1615702 -1615702 254891831 242033175 9156170 3702486 8703990 2780812 9890980 18415967 Cost of Power 158308184 Dist Exp - Maintenance 24617166 Dist Exp - Operations 10584232 Admin & Gen Expenses 9049049 12541451 254891831 5052750 4159159 34973551 26300947 5856566 5957551 2347100 2869305 586630301 150069483 422732023 436560818 80772530 81531772 7353387 6887692 559087907 564267244 154348037 151030430 121495666 132487919 53716391 45418130 329560094 328936479 X 509140 508245 0 0 229018673 234822520 229527813 235330765 559087907 564267244 X 0 5802952 X 0 1 X 1 1 1 5679249 5679249 43891579 12022700 31868879 537059473 138046783 399012690 436560818 Patronage Capital - SMEPA 83727890 C Patronage Capital - NRUCFC 1265074 C Patronage Capital - EPA's of Mississippi 787480 C Patronage Capital - Arkansas Electric 186804 C Patronage Capital - NRTC 4363 C Patronage Capital - SEDC 494210 C Captial Term Certificates 1681704 C Patronage Capital - CoBank 1338524 C Investment in CoastConnect -9019414 C Other Investments in Associated Organizations 2011 C Investment in Federated 1063126 C 81531772 Accumulated Postretirement Benefit Obligation 16649215 Go Zone Bonds Payable 21960000 Power Costs Payable 6808915 45418130 X Part X, Line 2: Management has evaluated the Association's tax positions and concluded that the Association has taken no uncertain tax positions that require adjustment to the consolidated financial statements to comply with the provisions of this guidance. X X X 0 1 0 Ron Barnes CEO 434646 0 101534 0 4935 0 166073 0 47166 0 754354 0 0 0 John Holston CFO 303220 0 68680 0 2963 0 84942 0 38249 0 498054 0 0 0 Charles S Brown Sr. VP Engineering & Operations 263736 0 59882 0 -2600 0 120276 0 21108 0 462402 0 0 0 Archie Dickens VP Sfty & Comp 203953 0 46224 0 -4425 0 97912 0 25229 0 368893 0 0 0 Guy Johnson VP ECO 215223 0 56862 0 -1932 0 60377 0 25333 0 355863 0 0 0 Louis Lee Jr COO 232368 0 51379 0 1623 0 59793 0 9000 0 354163 0 0 0 Steven Broussard VP of Engineering 178824 0 41332 0 -4006 0 111819 0 25747 0 353716 0 0 0 Wilson Eaton VP of HR and Staff Attorn 210652 0 50630 0 -1451 0 47823 0 16982 0 324636 0 0 0 Melissa Russo VP COMM, PR, MBR SVC 201966 0 46224 0 1025 0 56228 0 1200 0 306643 0 0 0 Kendall Ladner VP OPS 172702 0 39828 0 -6086 0 70756 0 26305 0 303505 0 0 0 Part I, Line 4b Employees listed on Schedule J participated in a 457b plan but didn't receive payments in 2024. Form 990, Part VI, Section A, line 6 Because Coast Electric Power Association is chartered and incorporated under Mississippi law as a not-for-profit cooperative, the charter requires that each person receiving electric service from the association be a member. Form 990, Part VI, Section A, line 7a At each annual meeting of the members, one-third (1/3) of the total number of directors shall be elected by the members to serve for a term of three (3) years as provided by law. If the election of directors shall not be held at the annual meeting, or if such annual meeting is not held, each director shall hold office until their successors shall have been elected and qualified. Form 990, Part VI, Section A, line 7b The business and affairs of the Association are managed by the Board of Directors which exercises all of the powers of the Association except such as are by law, or by the Certificate of Consolidation of the Association, or by the bylaws, conferred upon or reserved to the members. Form 990, Part VI, Section B, line 11b Once the Form 990 is completed, the VP of Financial & Administrative Services and the accounting department supervisor reviews the Form 990. After the Form 990 has been reviewed by these individuals, each member of the board of directors receives a copy of the form for his/her review. The VP of Financial & Administrative Services and the accounting department supervisor present a general overview of the forms' questions and answers. Once the presentation is complete, the board members are given an opportunity to ask questions. Once all questions have been satisfactorily answered, the President/CEO will sign the e-file authorization form allowing the Form 990 to be transmitted to the Internal Revenue Service. Form 990, Part VI, Section B, line 12c New vendors are reviewed for possible conflicts with directors/officers. Directors/officers are required to report any new affiliations they may enter into. Form 990, Part VI, Section B, line 15 An executive compensation review was presented to the Board of Directors. The following components were included in the review: (1) Compensation Strategy; (2) Total Executive Compensation Philosophy Statement; (3) Elements of a Compensation Program; (4) Detailed Market Data; (5) Form 990 Explanation; (6) Discussion of Goal Sharing Programs; (7) Review of Current Benefits and Incentives. Comparability data for the CEO and other key employees was obtained from the following sources: 1. Economic Research Institute 2. NRECA National Compensation Survey 3. EPAM Statewide Compensation Survey 4. WorldAtWork 5. InTandem Consultants National and Local Compensation Survey Positions are surveyed yearly to ensure they remain competitive with the market. Raises are based on performance and position within the salary grade. A recommendation was made to the Board concerning the range movement for the CEO pay grade based on information from the detailed market survey. The CEO and top management pay is based on a pay for performance system where the performance evaluation "grade" is entered into a comprehensive spreadsheet. The spreadsheet is designed to compute a pay raise based on a matrix of four performance levels (average, good, excellent and outstanding) divided into the lower third, middle third and upper third of the pay range. Form 990, Part VI, Section C, line 19 Coast Electric Power Association's governing documents, conflict of interest policy, and financial statements are available to the public upon request at the main office in Kiln, Mississippi. Form 990, Part XI, line 9: Change in memberships -895. Retirement of capital credits -6,070,417. Other comprehensive income 1,403,299. Gain on retirement of capital credits 1,766,975. Assignment of Current Year Margins to Members 8,703,990. CoastConnect LLC 18020 Highway 603 Kiln MS 39556 851349209 Internet MS Coast Electric Power Association C 19637127 128310616 1.00000 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 CoastConnect LLC A 9156170 Cash CoastConnect LLC Q 575426 Cash CoastConnect LLC P 898443 Cash