2015-06-23T07:24:34-05:00 2014-12-31 631035228 Jackson Thornton & Co PC P O Box 96 Montgomery AL 361010096 990 2014-01-01 630196775 Southern Pine Electric Cooperative Inc SOUT 2518675415 PO Box 528 Brewton AL 36427 Jason Jackson Chief Financial Officer 2518675415 2015-06-15 1 Patrick Cooper P00856177 3348347660 2015-06-15 2014 2016-02-25 16:41:14Z NA Vince Johnson PO Box 528 Brewton AL 36427 52836696 0 X www.southernpine.org X 1938 AL To provide electric utility service to cooperative members. 9 9 74 0 0 0 0 0 49681806 52467687 62126 69438 304115 299571 50048047 52836696 60000 25000 3394136 2344994 564026 594928 0 0 0 46029885 49871774 50048047 52836696 0 0 76683776 80000842 24744002 21459828 51939774 58541014 Southern Pine Electric Cooperative is a nonprofit organization that exists to provide reliable electric service to its members at the lowest possible cost. 0 0 Utilizing 3,308 miles of electric distribution lines, Southern Pine Electric Cooperative, Inc. provided 447,789,867 Kilowatt-Hours of electric energy to approximately 15,600 residential, commercial, and industrial members located in South Alabama. 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 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 1 29 0 1 74 1 0 0 0 0 0 51382003 1155121 0 X 9 9 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 0 1 1 1 0 X Jason Jackson 2518675415 2143 South Blvd Brewton AL 36426 Hilbert Hall Trustee/Chairman 5.00 X 28234 0 0 Allen Lang Trustee/Vice-Chairman 3.00 X 26942 0 0 Dwight Maloy Trustee/Secretary/Treasurer 3.00 X 25896 0 0 Vernon Baggett Trustee 10.00 X 29654 0 0 David Cook Jr Trustee 8.00 X 26304 0 0 Bobby Ballard Trustee 4.00 X 14853 0 0 Aaron White Trustee 3.00 X 26381 0 0 Keith Pugh Trustee 4.00 X 26214 0 0 Cleveland Roberson Trustee 5.00 X 24520 0 0 Vince Johnson Chief Executive Officer 47.00 X 178937 0 53828 Jason Jackson Chief Financial Officer 43.00 X 95609 0 37556 Robert Cotten Superintendent of Operations 50.00 X 122506 0 41704 Dan Weaver Head Engineer 45.00 X 115471 0 42160 Gary Harrison District Foreman 44.00 X 100445 0 36959 841966 0 212207 4 0 1 0 Asplundh Tree Expert Company PO Box 532729 Atlanta GA 30348 Right of Way Maintenance 709986 Pike Electric Inc PO Box 1000 Memphis TN 38148 Line Construction 532923 Southeastern Data Cooperative Inc 100 Ashford Ctr N Ste 500 Atlanta GA 30338 Software Support 276031 Southeast Woodland Services 431 Caines Landing Rd Conway SC 29526 Pole Inspections 166050 4 Sales of Electricity 221000 51382003 51382003 Patronage Capital 221000 1085684 1085684 52467687 69438 69438 299571 0 299571 299571 299571 52836696 52467687 0 369009 X 25000 2344994 594928 171513 2099297 Cost of Power 38239407 Dist Exp - Maintenance 3032987 Dist Exp - Operations 2258136 Administrative & Genera 2211039 1859395 52836696 1559530 2385884 180961 181561 6371040 6469689 610209 521210 1966033 1654745 76690259 27165196 47770600 49525063 1000 1000 18224403 19261690 76683776 80000842 5169901 5562729 3006434 2878340 16567667 13018759 24744002 21459828 X 110424 110414 0 0 51829350 58430600 51939774 58541014 76683776 80000842 X 0 6601240 X X 0 1 X 1 0 145784 145784 76544475 27165196 49379279 49525063 Economic Development Loans Receivable 76592 C Patronage Capital - Cooperative Finance Corporation 12441 C Patronage Capital - PowerSouth Energy Cooperative 18027759 C Patronage Capital - United Utility Services 187352 C Patronage Capital - Southeastern Data Cooperative 114149 C Patronage Capital - Gresco Utility Supply, Inc. 97184 C Patronage Capital - Federated Insurance 81552 C Patronage Capital - CoBank 96490 C Patronage Capital - NRTC 53 C Capital Term Certificates - CFC 562061 C Other Investments in associated organizations 6057 C 19261690 Customer deposits 1263194 Accumulated provision for pension and benefits 11755565 13018759 X 52836696 0 52836696 0 52836696 50491702 0 50491702 2344994 2344994 52836696 Part X, Line 2: Income taxes - SPEC is exempt from income taxes under Internal Revenue Code Section 501(c)(12). SPS is subject to federal and state income taxes. Management evaluated the Cooperative's tax positions and concluded that the Cooperative had taken no uncertain tax positions that require adjustment to the financial statements. With few exceptions, the Cooperative 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: Net Margins Assigned to Members 2,344,994. 1 Coastal Gateway Regional Economic Development Alliance 24300 Highway 41 Brewton AL 36426 272954915 501(c)(3) 15000 Economic Development Activities MonroevilleMonroe County Economic Development Authority 15 N Mount Pleasant Ave Monroeville AL 36460 271235835 501(c)(3) 10000 Economic Development Activities 2 0 Part I, Line 2: An application is submitted stating the purpose of the grant, timetable of implementation, names of individuals responsible for the project and total cost of the project and/or costs of ongoing operations. X X X X 0 0 0 Vince Johnson Chief Executive Officer 178937 0 0 0 0 0 36129 0 17699 0 232765 0 0 0 Robert Cotten Superintendent of Operations 122506 0 0 0 0 0 24437 0 17267 0 164210 0 0 0 Dan Weaver Head Engineer 115471 0 0 0 0 0 23147 0 19013 0 157631 0 0 0 Form 990, Part VI, Section A, line 6 Southern Pine Electric Cooperative, Inc. is a not-for-profit membership organization whose members have identical voting rights and are assigned margins in accordance with the cooperative's bylaws. Form 990, Part VI, Section A, line 7a The entire general membership re-elects or fills vacancies of the governing body by vote at the annual membership meeting. Form 990, Part VI, Section A, line 7b The membership must approve decisions that involve substantial transfers of cooperative assets, amendments to the cooperative's bylaws, as well as other decisions requiring approval of the membership by law, the articles of incorporation, and/or the cooperative's bylaws. Form 990, Part VI, Section B, line 11 The Form 990 was reviewed by the Chief Executive Officer and the Chief Financial Officer before it was presented to the board. The tax consultant hired to assist in the preparation of the Form 990 attended a board meeting prior to filing the Form 990 with the IRS and conducted a formal review of the Form 990 with the trustees. Form 990, Part VI, Section B, line 12c When feasible, all purchases are made at the lowest cost available, large items are open to bid, all checks issued require two signatures, checks issued over $25,000 require at least one trustee signature. These procedures ensure that two or more staff and/or trustees review each check so that no favoritism or conflicts of interest exist in purchasing materials, paying for goods or services or issuing payroll. Form 990, Part VI, Section B, line 15 Compensation of the President/CEO is set and approved by the Board of Trustees. It and all other compensation is based on salaries of comparable organizations, experience, length of service and job performance. Compensation for other employees are set by the President/CEO and at least one Staff member using the same guidelines. Form 990, Part VI, Section C, line 19 Financial statements, by-laws and policies are available for inspection at the Brewton Office, 2134 S Blvd, Brewton, Al, 36426. 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. Southern Pine Electric Cooperative has interpreted the words "patronage dividends paid" in the instructions to mean margins that are assigned or assignable to the members. Southern Pine Electric Cooperative 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: Amortization of the Unrecognized Transition Obligation 56,273. Decrease in Memberships -10. Gain on Retirement of Capital Credits 63,200. Post-retirement Benefit Obligations - Net Gain Arising During the Year 4,136,783. Net Margins Assigned to Members 2,344,994. Form 990, Part XII, Line 2c The filing organization did not change its processes of oversight or selection for the year ending 12/31/2014. Southern Pine Electric Trust Inc PO Box 528 Brewton AL 36426 412040142 Provides Financial Assistance AL 501(c)(3) A community trust N/A 1 Southern Pine Services Inc PO Box 528 Brewton AL 36427 631245068 Propane Sales AL N/A C 10 1.00000 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 Southern Pine Electric Trust Inc R 91995 Cash