2014-08-05T09:40:48-05:00 2013-12-31 631035228 Jackson Thornton & Co PC P O Box 96 Montgomery AL 361010096 990 2013-01-01 640239641 Singing River Electric Power Association SING 6019474211 11187 Old 63 South PO Box 767 Lucedale MS 39452 Michael R Smith CEO & General Manager 6019474211 2014-07-31 1 PATRICK COOPER P00856177 3348347660 2014-07-31 2013 2015-11-30 17:44:51Z Michael R Smith 11187 Old 63 South PO Box 767 Lucedale MS 39452 160910179 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 9 213 0 0 0 0 0 159646971 157498308 656556 859489 1492511 2514570 161796038 160872367 14759 18380 11443129 9533924 938201 1014048 0 0 0 149399949 150306015 161796038 160872367 0 0 304471875 326057521 174633629 182893258 129838246 143164263 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 71,745 services to 54,700 members in southeast Mississippi and southwest Alabama in 2013. 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 7,130 miles of electric distribution lines, Singing River Electric sold 1,377,230,926 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 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 68 0 213 1 0 0 0 0 0 152390345 5998372 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 Ralph Hicks Director/President 5.70 X 25725 0 0 Travis Baxter Director/Vice President 4.90 X 25850 0 0 Kristal Sisson Director/Secretary 5.70 X 25069 0 0 Cary Williams Director/Treasurer 5.20 X 24015 0 0 Howard Davis Director 5.10 X 7980 0 0 Roy Grafe Director 5.50 X 16288 0 0 Ronald Hall Director 4.00 X 3193 0 0 William Hollinghead Director 4.20 X 17035 0 0 GA Parnell Director 3.50 X 24092 0 0 Edward Thornton Director 4.00 X 15360 0 0 Harvey L Hedegaard CEO & General Manager 65.00 X 261255 0 112286 Tammy Y Hultz Manager of Accounting 50.00 X 131212 0 57657 Michael R Smith Assistant General Manager 55.00 X 176957 0 90074 Horace J Necaise III Gautier District Manager 50.00 X 119844 0 51331 James Chipley Serviceman 60.00 X 105209 0 49149 James D Miller Manager of IT 40.00 X 104949 0 52155 Annette Riley Manager of Human Resources 40.00 X 103057 0 79944 Robert Fairley Serviceman 60.00 X 102533 0 52243 1289623 0 544839 9 0 1 0 Fletcher Construction Co Inc PO Drawer 1509 Pascagoula MS 39568 General Plant & Substation Construction 1608573 Southern ROW & Line Clearance Inc 6603 Baker Road Vancleave MS 39565 Right of Way Services 1390107 Treeline Services LLC 126 Strickland Road Lucedale MS 39452 Right of Way Services 1313087 US Postal Service 209 Cox Street Lucedale MS 39452 Postal Services 280729 Mark Maples Escrow 362 Summer Street Lucedale MS 39452 Land Escrow Services 190000 6 Sales of Electricity 221000 152390345 152390345 Patronage Capital 221000 5107963 5107963 157498308 858912 858912 2512839 0 2512839 2512839 2512839 34164 33587 577 577 577 5956 4225 1731 1731 160872367 157500039 0 3372328 X 18380 9533924 1014048 5947184 7832285 Cost of Power 113819199 Dist Exp-Maintenance 6875314 Admin & Gen Expenses 6574562 Consumer Accounts Exp 5788364 3469107 160872367 23693651 29539376 4663000 4706000 11082729 9733969 3011000 3743704 1641705 1595149 551213 6982170 289313215 72669249 211705247 216643966 47371075 52309679 752255 803508 304471875 326057521 12498136 13724833 130547552 139583274 31587941 29585151 174633629 182893258 X 287180 288670 0 0 129551066 142875593 129838246 143164263 304471875 326057521 X 0 13326017 X X 0 1 X 1 0 2530882 2530882 286782333 72669249 214113084 216643966 Patronage Capital - South Mississippi Electric Power Association 47977787 C Capital Term Certificates 2160341 C Other Investments in Associated Organizations 2171551 C 52309679 Accumulated post-retirement benefit obligation 23108715 Deferred compensation 803508 Current portion of FAS 106 maturities 1051000 Customer deposits 4621928 29585151 X 160872367 0 160872367 0 160872367 151338443 0 151338443 9533924 9533924 160872367 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 2010. Part XII, Line 4b - Other Adjustments: Margins assigned/assignable to members 9,533,924. 1 Part I, Line 2: Neighbors Helping Neighbors community grants help Singing River Electric merge efforts with the hard work of those within our communities. The program awards two grants for up to $2500 each, four times a year in January, April, July, and October. The grants are available to non-profit organizations helping communities within Singing River Electric's service territory in education, civic, community development and economic development. X X X 0 0 0 Harvey L Hedegaard CEO & General Manager 252805 0 0 0 8450 0 95013 0 17273 0 373541 0 0 0 Tammy Y Hultz Manager of Accounting 130463 0 0 0 749 0 50097 0 7560 0 188869 0 0 0 Michael R Smith Assistant General Manager 171162 0 0 0 5795 0 73749 0 16325 0 267031 0 0 0 Horace J Necaise III Gautier District Manager 115684 0 0 0 4160 0 35932 0 15399 0 171175 0 0 0 James Chipley Serviceman 104663 0 0 0 546 0 34383 0 14766 0 154358 0 0 0 James D Miller Manager of IT 103783 0 0 0 1166 0 36663 0 15492 0 157104 0 0 0 Annette Riley Manager of Human Resources 102291 0 0 0 766 0 72840 0 7104 0 183001 0 0 0 Robert Fairley Serviceman 101882 0 0 0 651 0 37477 0 14766 0 154776 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, CEO & General Manager, 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 CEO & General Manager's performance. The CEO & General Manager's compensation is compared to national, state, and regional compensation for other general managers of similar size to Singing River Electric Power Association. The CEO & General Manager 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 members to inspect a copy of the by-laws, financial statements, and conflict of interest policy at the main office. Form 990, Part IX, Line 4 The instructions to the 2013 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, 2013. Form 990, Part XI, line 9: Change in Memberships 1,490. Actuarial Gain 3,451,700. Amortization of Unrecognized Losses 707,100. Amortization of the Transition Obligation 270,000. Retirement of Capital Credits -1,744,917. Gain on Unclaimed Capital Credits 1,106,720. Net Margins Assigned/Assignable to Members 9,533,924. Form 990, Part XII, Line 2c The filing organization did not change its processes of oversight and selection for the year ended December 31, 2013.