2015-08-14T12:39:03-05:00 2014-12-31 631035228 Jackson Thornton & Co PC P O Box 96 Montgomery AL 361010096 990 2014-01-01 640239641 Singing River Electric Power Association SING 6019474211 11187 Old 63 South PO Box 767 Lucedale MS 39452 Michael R Smith General Manager & CEO 6019474211 2015-07-08 1 Patrick Cooper P00856177 3348347660 2015-07-08 2014 2016-03-07 17:11:31Z Michael R Smith 11187 Old 63 South PO Box 767 Lucedale MS 39452 170481553 0 X www.singingriver.com X 1938 MS To provide safe and reliable electric service at the lowest possible cost while promoting energy efficiency and enhancing the lives of the members and communities we serve. 9 9 198 0 0 0 0 0 157498308 167236243 859489 1133424 2514570 2085590 160872367 170455257 18380 18499 9533924 10646478 1014048 1096325 0 0 0 150306015 158693955 160872367 170455257 0 0 326057521 350008024 182893258 199241119 143164263 150766905 To provide safe and reliable electric service at the lowest possible cost while promoting energy efficiency and enhancing the lives of the members and communities we serve. 0 0 Singing River Electric Power Association is an electric distribution cooperative that provided 72,045 services to 54,800 members in southeast Mississippi and southwest Alabama in 2014. Singing River Electric maintained distribution lines in Jackson, George, Greene, Harrison, Perry, Stone and Wayne counties in Mississippi as well as Mobile and Washington counties in Alabama. Utilizing its 7,181 miles of electric distribution lines, Singing River Electric sold 1,424,452,545 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 84 0 1 198 1 0 0 0 0 0 162865776 5511006 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 Tammy Hultz 6019474211 11187 Old 63 South Lucedale MS 39452 Kristal Sisson Director/President 6.00 X 23693 0 0 Travis Baxter Director/Vice President 4.40 X 23774 0 0 William Hollinghead Director/Secretary 4.30 X 14735 0 0 Cary Williams Director/Treasurer 5.20 X 22063 0 0 Howard Davis Director 4.80 X 15835 0 0 Roy Grafe Director 6.30 X 16862 0 0 Ralph Hicks Director 5.30 X 24274 0 0 GA Parnell Director 3.20 X 21290 0 0 Edward Thornton Director 6.00 X 15985 0 0 Harvey L Hedegaard CEO & General Manager 65.00 X 390254 0 12127 Tammy Y Hultz Manager of Accounting 50.00 X 133626 0 52451 Michael R Smith General Manager & CEO 65.00 X 220687 0 108669 James Chipley Serviceman 62.00 X 112561 0 52867 James D Miller Manager of IT 45.00 X 107222 0 50492 Robert Fairley Serviceman 59.00 X 106753 0 55425 Brian Hughey Gautier District Manager 50.00 X 104651 0 47317 Ryan Bounds Serviceman 60.00 X 106067 0 35916 1460332 0 415264 13 0 1 0 Treeline Services LLC 126 Strickland Road Lucedale MS 39452 Right of Way Services 2145425 DLM Right of Way Inc 6603 Baker Rd Ocean Springs MS 39565 Right of Way Services 1170248 NISC PO Box 1147 Mandan ND 58554 Software Services 325268 Postmaster Lucedale 209 Cox Street Lucedale MS 39452 Postal Services 285933 Progressive Solutions LLC PO Box 825124 Philadelphia PA 19182 Substation Herbicide Spraying 124700 6 Sales of Electricity 221000 162865776 162865776 Patronage Capital 221000 4370467 4370467 167236243 1075212 1075212 2084407 0 2084407 2084407 2084407 81568 23356 58212 58212 58212 4123 2940 1183 1183 170455257 167237426 0 3217831 X 18499 10646478 1096325 6093396 8105000 Cost of Power 122308747 Dist Exp-Maintenance 7497259 Consumer Accounts Exp 5780735 Admin & Gen Expenses 5363438 3545380 170455257 29539376 36421973 4706000 16742000 9733969 8612435 3743704 3197104 1595149 1692636 6982170 6199951 297918155 77977601 216643966 219940554 52309679 56367863 803508 833508 326057521 350008024 13724833 11938505 139583274 155182855 29585151 32119759 182893258 199241119 X 288670 289055 0 0 142875593 150477850 143164263 150766905 326057521 350008024 X 0 7602642 X X 0 1 X 1 0 2535882 2535882 295382273 77977601 217404672 219940554 Patronage Capital - South Mississippi Electric Power Association 51746484 C Capital Term Certificates 2150913 C Other Investments in Associated Organizations 2470466 C 56367863 Accumulated post-retirement benefit obligation 25306409 Deferred compensation 833508 Current portion of FAS 106 maturities 1027000 Customer deposits 4952842 32119759 X 170455257 0 170455257 0 170455257 159808779 0 159808779 10646478 10646478 170455257 Part X, Line 2: Income taxes - The Association is exempt from income taxes under Internal Revenue Code Section 501(c)(12). Management has evaluated the Association's tax positions and concluded that the Association has taken no uncertain tax positions that require adjustment to the financial statements. With few exceptions, the Association is no longer subject to income tax examinations by the federal, state, or local tax authorities for years before 2011. Part XII, Line 4b - Other Adjustments: Margins assigned/assignable to members 10,646,478. X X X 0 0 0 Harvey L Hedegaard CEO & General Manager 91168 0 0 0 299086 0 2928 0 9199 0 402381 0 0 0 Tammy Y Hultz Manager of Accounting 132864 0 0 0 762 0 43982 0 8469 0 186077 0 0 0 Michael R Smith General Manager & CEO 213491 0 0 0 7196 0 91977 0 16692 0 329356 0 0 0 James Chipley Serviceman 112008 0 0 0 553 0 38277 0 14590 0 165428 0 0 0 James D Miller Manager of IT 105161 0 0 0 2061 0 35552 0 14940 0 157714 0 0 0 Robert Fairley Serviceman 106087 0 0 0 666 0 40674 0 14751 0 162178 0 0 0 Brian Hughey Gautier District Manager 103384 0 0 0 1267 0 31264 0 16053 0 151968 0 0 0 Form 990, Part VI, Section A, line 6 Singing River Electric Power Association 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 The members of Singing River Electric Power Association may elect one or more members of the governing body at the annual meeting. Form 990, Part VI, Section A, line 7b The business and affairs of the organization are managed by the Board of Directors which exercises all of the powers of the organization except such as are by law, or by the Certificate of Incorporation of the organization, or by the bylaws conferred upon or reserved to the members. The organization's bylaws include certain provisions in which a majority of the membership would need to approve such transactions. An example would be decisions to sell, lease, or otherwise dispose of more than ten percent of the organization's property. Form 990, Part VI, Section B, line 11 Tammy Hultz, Manager of Accounting & Finance, and Michael R. Smith, General Manager & CEO, reviewed a completed copy of the Form 990. The Form 990 was then presented to and reviewed with the board of directors at a board meeting prior to filing the form with the Internal Revenue Service. The presentation of the form to the directors is reflected in the board minutes. Michael R. Smith then signed the IRS e-file authorization form allowing the Form 990 to be electronically filed with the Internal Revenue Service. Form 990, Part VI, Section B, line 12c Singing River Electric Power Association has a board policy named the "Board of Directors and Officers Code of Ethics." The policy includes a certification of compliance, and each board member and officer signs the certificate annually to state they have read and fully understood the "Board of Directors and Officers Code of Ethics" and recognize that he/she is subject to the code. Form 990, Part VI, Section B, line 15 Singing River Electric Power Association has a board policy that is named the "General Manager and CEO Evaluation and Compensation." A committee from the Board of Directors completes an evaluation regarding the General Manager & CEO's performance. The compensation is compared to national, state, and regional compensation for other general managers of similar size to Singing River Electric Power Association. The General Manager & CEO uses comparable compensation data when reviewing and evaluating the compensation of the other employees. Form 990, Part VI, Section C, line 19 Singing River Electric Power Association allows the public to inspect a copy of the bylaws, financial statements, and conflict of interest policy at the main office. Information such as membership guide, rate schedules, and bylaws can also be found on www.singingriver.com. Form 990, Part IX, Line 4 The instructions to the 2014 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. Singing River Electric Power Association has interpreted the words "patronage dividends paid" in the instructions to mean margins that are assigned or assignable to the members. Singing River Electric Power Association assigns the net margins to its members each year. Therefore, the amount listed in Part IX, Line 4 represents the net margins assignable to the members for the calendar year ended December 31, 2014. Form 990, Part XI, line 9: Change in Memberships 385. Actuarial Loss -1,444,500. Amortization of Unrecognized Losses 241,100. Amortization of the Transition Obligation 268,800. Retirement of Capital Credits -5,066,558. Gain on Unclaimed Capital Credits 2,956,937. Net Margins Assigned/Assignable to Members 10,646,478. Form 990, Part XII, Line 2c The filing organization did not change its processes of oversight and selection for the year ended December 31, 2014.