2016-04-14T16:35:11-05:00 2015-12-31 640751580 WILSON & BIGGS PLLC PO BOX 930 RIDGELAND MS 39158 990 2015-01-01 640244325 SOUTHWEST MISSISSIPPI ELECTRIC POWER ASSOCIATION SOUT 6014373611 PO BOX 5 LORMAN MS 39096 KEVIN BONDS GENERAL MANAGER 6014373611 2016-03-21 true GEORGE M BIGGS JR P00912499 6019572001 2016-03-21 2015 2016-09-27 15:27:22Z KEVIN BONDS 59416677 false X WWW.SOUTHWESTEPA.COM X 1937 MS MEMBER OWNED ELECTRIC COOPERATIVE. 10 10 103 0 0 58354088 57855915 197148 170967 1373565 1389795 59924801 59416677 0 1794648 2673821 699982 376169 0 0 56985551 56366687 59480181 59416677 444620 0 101192943 103626135 52456300 51850542 48736643 51775593 MEMBER OWNED ELECTRIC COOPERATIVE. false false DISTRIBUTION OF ELECTRIC POWER TO MEMBERS. false false false false false false false false false true false false true true true true false false false false false false false false false false false false true false false false false false false false false false false false false false false true 22 0 true 103 true false false false false false 56889274 1560762 false X 10 10 false false false false false true true true true false false true true true true true true true false false X VIRGIL SCOTT 8002878564 18671 HIGHWAY 61 SOUTH LORMAN MS 39090 JAMES A VENTRESS DIRECTOR 5.00 X 11200 0 6785 STANLEY RUCKER DIRECTOR 5.00 X 10000 0 251 BILLY K SMITH PRESIDENT 5.00 X X 9800 0 277 BETSY MOSBY DIRECTOR 4.00 X 9000 0 301 CLAYTON R WOOLLEY VICE-PRESIDE 4.00 X X 8600 0 301 JOHN BRADY ASSISTANT SE 4.00 X X 8400 0 301 BURNELL NEWSOME DIRECTOR 5.00 X 8300 0 136 JAMES P MULLINS DIRECTOR 3.00 X 7600 0 436 CALLIE JOHNSON DIRECTOR 3.00 X 7600 0 251 FRANK WILSON SECRETARY 3.00 X X 7400 0 473 KEVIN BONDS GENERAL MANA 40.00 X 139254 0 38520 VIRGIL SCOTT ACCT/FINANCE 40.00 X 82984 0 17998 310138 66030 1 false true false DELTA TREE SERVICE 5717 MEDGAR EVERS BLVD JACKSON MS 39213 RIGHT OF WAY 1030625 KILLEN CONTRACTORS INC PO BOX 786 BRANDON MS 39043 CONSTRUCTION 657193 SOUTHERN TREE PO BOX 711 MEADVILLE MS 39653 RIGHT OF WAY 387704 PROGRESSIVE SOLUTIONS PO BOX 825124 PHILADELPHIA PA 19182 CONSTRUCTION 246118 4 OPERATING REVENUES-MEMBER 57335211 57335211 QUALIFIED POLE RENTAL INCOME 520704 520704 57855915 170967 170967 PATRONAGE CAPITAL 1372021 1372021 OTHER MEMBER INCOME 17774 17774 1389795 59416677 58725006 691671 2673821 376169 20864 25330 34489 108785 121158 1925843 3099225 COST OF POWER 40811004 DISTRIBUTION - MAINTENANC 5019981 DISTRIBUTION - OPERATIONS 2804502 CONSUMER ACCOUNTS 1623736 771770 59416677 0 0 0 1096652 1847141 4324343 3720706 1063502 1077904 2954242 3116649 104092185 33282669 69775338 70809516 21978866 23054219 101192943 103626135 7326178 7369335 43098822 42535807 2031300 1945400 52456300 51850542 X 102895 102460 48633748 51673133 48736643 51775593 101192943 103626135 X 0 3038950 X false true X true false 104092185 33282669 70809516 70809516 PATRONAGE CAPITAL 20664846 DEFERRED CHARGES 2017683 REDLEG NOTES RECEIVABLE 356297 INTEREST RECEIVABLE 15393 23054219 UNFUNDED DEFINED BENEFIT PLAN OBL. 1945400 1945400 X 59416677 59416677 59416677 56742856 56742856 2673821 2673821 59416677 SCHEDULE D, PAGE 3, PART X SWMEPA IS EXEMPT FROM INCOME TAX UNDER SECTION 501(C)(12) OF THE INTERNAL REVENUE CODE AND IS ALSO EXEMPT FROM STATE INCOME TAX. ACCOUNTING RULES PRESCRIBE WHEN TO RECOGNIZE AND HOW TO MEASURE THE FINANCIAL STATEMENT EFFECT, IF ANY, OF INCOME TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN ON INCOME TAX RETURNS INCLUDING THE POSITION THAT THE ASSOCIATION WILL CONTINUE TO QUALIFY AS A TAX EXEMPT ORGANIZATION. MANAGEMENT EVALUATES THE LIKELIHOOD THAT, UPON EXAMINATION BY RELEVANT TAXING JURISDICTIONS, THOSE INCOME TAX POSITIONS WOULD BE SUSTAINED. BASED ON THAT EVALUATION, IF IT WERE MORE THAN 50% PROBABLE THAT A MATERIAL AMOUNT OF INCOME TAX WOULD BE IMPOSED ON THE ASSOCIATION UPON EXAMINATION BY THE RELEVANT TAXING AUTHORITIES, A LIABILITY WOULD BE RECOGNIZED IN THE STATEMENTS OF FINANCIAL POSITION ALONG WITH ANY INTEREST AND PENALTIES THAT WOULD RESULT FROM THAT ASSESSMENT. SHOULD ANY PENALTIES AND INTEREST BE INCURRED, THE ASSOCIATION'S POLICY WOULD BE TO RECOGNIZE THEM AS OPERATING EXPENSES. BASED ON MANAGEMENT'S EVALUATION, NO LIABILITIES OR PENALTIES AND INTEREST WERE REQUIRED TO BE RECORDED FOR UNCERTAIN TAX POSITIONS. YEARS THAT REMAIN SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE AND THE STATE OF MISSISSIPPI AS OF DECEMBER 31, 2015 WERE 2012 - 2015. SCHEDULE D, PAGE 4, PART XII, LINE 4B PATRONAGE CAPITAL PAID TO MEMBERS-RETIREMENTS 2,673,821 X false false false KEVIN BONDS GENERAL MANAGER 139254 18126 20394 177774 FORM 990, PAGE 6, PART VI, LINE 7A BOARD IS ELECTED BY MEMBERS. FORM 990, PAGE 6, PART VI, LINE 7B MEMBERS RATIFY THE ACTIONS OF THE BOARD OF DIRECTORS AT THE ANNUAL MEETING EACH YEAR. FORM 990, PAGE 6, PART VI, LINE 11B THE 990 IS REVIEWED BY THE GENERAL MANAGER AND ACCOUNTING/FINANCE DIRECTOR PRIOR TO FILING. A FULL COPY OF THE 990 IS PRESENTED TO THE BOARD. FORM 990, PAGE 6, PART VI, LINE 12C ANNUALLY THE BOARD IS ASKED TO DISCLOSE INTERESTS THAT MIGHT GIVE RISE TO CONFLICTS. A FORM IS GIVEN TO EACH BOARD MEMBER TO FACILITATE THIS PROCESS AND DOCUMENT CONFLICTS, IF ANY. FORM 990, PAGE 6, PART VI, LINE 15A APPROVED BY BOARD OF DIRECTORS ANNUALLY. FORM 990, PAGE 6, PART VI, LINE 19 THE ORGANIZATION DOES NOT MAKE ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY & FINANCIAL STATEMENTS AVAILABLE TO THE GENERAL PUBLIC. FORM 990, PART XI PART IX , LINE 4- AMOUNTS ENTERED REPRESENT CAPITAL CREDITS ALLOCATED TO MEMBERS FOR 2015, NOT CAPITAL CREDITS RETIRED. PART IX, SALARIES, BENEFITS, AND PAYROLL TAXES- THE ORGANIZATION IS REQUIRED TO FOLLOW REGULATED ACCOUNTING PROCEDURES PRESCRIBED BY THE RURAL UTILITIES SERVICES. COMPENSATION IS ALLOCATED TO PLANT AND EXPENSES. COMPENSATION FOR OFFICERS AND HCE'S HAVE BEEN PRESENTED. ALL OTHER COMPENSATION HAS BEEN PRESENTED IN CATEGORIES WHERE IT WAS ALLOCATED UNDER THE ABOVE REGULATIONS. FORM 990, PART XI, LINE 9 ACTUARIAL GAIN RECOGNIZED 155,606 AMORTIZATION OF ACTUARIAL LOSS 24,000 UNCLAIMED CAPITAL CREDITS 651,262 CAPITAL CREDITS ALLOCATED LESS 0 CAPITAL CREDITS RETIRED 2,396,817 AMORTIZATION OF PRIOR SERVICE CREDIT -188,300 CAPITAL STOCK -435 TOTAL 3,038,950