2015-05-22T12:42:17-05:00 2014-12-31 640751580 WILSON & BIGGS PLLC PO BOX 930 RIDGELAND MS 39158 990 2014-01-01 640244325 SOUTHWEST MISSISSIPPI ELECTRIC POWER ASSOCIATION SOUT 6014373611 PO BOX 5 LORMAN MS 39096 KEVIN BONDS GENERAL MANAGER 6014373611 2015-05-22 true GEORGE M BIGGS JR P00912499 6019572001 2015-05-22 2014 2016-02-25 16:41:14Z KEVIN BONDS PO BOX 5 LORMAN MS 39096 59924801 false X WWW.SOUTHWESTEPA.COM X 1937 MS MEMBER OWNED ELECTRIC COOPERATIVE. 9 9 103 0 0 56191837 58354088 113031 197148 1743883 1373565 58048751 59924801 0 171898 1794648 644629 699982 0 0 55119170 56985551 55935697 59480181 2113054 444620 98776360 101192943 54144670 52456300 44631690 48736643 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 19 0 true 103 true false false false false false 57877340 1570713 false X 9 9 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 11700 0 5844 CLAYTON R WOOLLEY VICE-PRESIDE 5.00 X X 8600 0 327 BILLY K SMITH PRESIDENT 5.00 X X 8300 0 327 BURNELL NEWSON DIRECTOR 5.00 X 8000 0 147 BETSY MOSBY DIRECTOR 4.00 X 7500 0 327 JOHN BRADY ASSISTANT SE 4.00 X 7400 0 327 FRANK WILSON SECRETARY 4.00 X 7100 0 415 JAMES P MULLINS DIRECTOR 3.00 X 5900 0 723 GREG KITCHENS - DECEASED 2014 FORMER PRESI 3.00 X X 4500 0 641 KEVIN BONDS GENERAL MANA 40.00 X 125187 0 59060 PERCY MCCAA - RETIRED IN 2014 FORMER GEN M 40.00 X 119910 0 176865 VIRGIL SCOTT ACCT/FINANCE 40.00 X 81261 0 58986 395358 303989 2 false true false DELTA TREE SERVICE 5717 MEDGAR EVERS BLVD JACKSON MS 39213 RIGHT OF WAY 502658 KILLEN CONTRACTORS INC PO BOX 786 BRANDON MS 39043 CONSTRUCTION 380715 WA KENDALL CO PO BOX 831 LAWRENCEVILLE GA 30246 CONSTRUCTION 349092 PROGRESSIVE SOLUTIONS PO BOX 825124 PHILADELPHIA PA 19182 CONSTRUCTION 310729 SOUTHERN TREE PO BOX 711 MEADVILLE MS 39653 RIGHT OF WAY 275535 5 OPERATING REVENUES-MEMBER 57847848 57847848 QUALIFIED POLE RENTAL INCOME 506240 506240 58354088 197148 197148 PATRONAGE CAPITAL 1359173 1359173 OTHER MEMBER INCOME 14392 14392 1373565 59924801 59221413 703388 1794648 699982 18805 26909 14739 108203 86209 2042339 2971130 COST OF POWER 41570354 DISTRIBUTION - MAINTENANC 5126975 DISTRIBUTION - OPERATIONS 2932428 CONSUMER ACCOUNTS 1637563 449897 59480181 0 0 0 853756 1096652 1000000 4485182 4324343 1075176 1063502 2958066 2954242 101247706 31472368 69162429 69775338 19241751 21978866 98776360 101192943 7678792 7326178 41424170 43098822 5041708 2031300 54144670 52456300 X 102675 102895 44529015 48633748 44631690 48736643 98776360 101192943 X 444620 3660333 X false true X true true true 101247706 31472368 69775338 69775338 PATRONAGE CAPITAL 19365666 DEFERRED CHARGES 2158354 REDLEG NOTES RECEIVABLE 438519 INTEREST RECEIVABLE 16327 21978866 UNFUNDED DEFINED BENEFIT PLAN OBL. 2031300 2031300 X 59924801 59924801 59924801 57685533 57685533 1794648 1794648 59480181 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, 2014 WERE 2011 - 2014. SCHEDULE D, PAGE 4, PART XII, LINE 4B PATRONAGE CAPITAL PAID TO MEMBERS-RETIREMENTS 1,794,648 X false false false KEVIN BONDS GENERAL MANAGER 125187 39132 19928 184247 PERCY MCCAA - RETIRED IN 2014 FORMER GEN MGR 119910 168565 8300 296775 SCHEDULE J, PART III PERCY MCCAA'S COMPENSATION INCLUDES 146227 REPRESENTING THE CHANGE IN ACTUARIAL VALUE RELATED TO HIS VESTED BENEFITS IN SWMEPA'S DEFINED BENEFIT ACCOUNT. 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 ACTUALLY RETIRED IN 2014, NOT ALLOCATED. PART IX, SALARIES, BENEFITS, AND PAYROLL TAXES- THE ORGANIZATION IS REQUIRED TO FOLLOW REGULATED ACCOUNTING PROCEDURES PRECRIBED 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 REGUATIONS. FORM 990, PART XI, LINE 9 PATRONAGE CAPITAL PAID TO MEMBERS-RETIREMENTS 1,794,648 FORM 990, PART XI, LINE 9 ACTUARIAL GAIN RECOGNIZED 22,333 AMORTIZATION OF ACTUARIAL LOSS 107,300 AMORTIZATION OF TRANSITION OBLIGATION 36,888 CAPITAL STOCK 220 CURTAILMENTS/SETTLEMENTS 723,862 GAIN ARISING DURING PERIOD FOR UNRECOGNIZED AMOUNT 2,958,125 RETIREMENTS OF CAPITAL CREDITS 1,794,648 AMORTIZATION OF PRIOR SERVICE CREDIT 188,300 PRIOR SERVICE COSTS ARISING DURING PERIOD 0 ACTUARIAL LOSS RECOGNIZED 0 DONATED CAPITAL 95