2013-08-06T14:24:34-05:00 2012-12-31 631035228 Jackson Thornton & Co PC P O Box 96 Montgomery AL 361010096 990 2012-01-01 640169075 Coast Electric Power Association COAS 2283637000 P O Box 2430 Bay St Louis MS 39521 Robert J Occhi 2283637000 2013-07-31 1 PATRICK COOPER P00856177 3348347660 2013-07-31 2012 2016-02-24 21:20:13Z Robert J Occhi P O Box 2430 Bay St Louis MS 39521 193309374 0 X www.coastepa.com X 1937 MS To provide electricity to rural areas of Hancock, Harrison and Pearl River counties. 9 9 299 0 0 0 0 0 187544909 190892184 308192 248413 3807322 2060070 191660423 193200667 0 0 13492806 13270686 2075064 1837617 0 0 0 176092553 178092364 191660423 193200667 0 0 309894482 325568494 180863773 185327029 129030709 140241465 We exist to provide our member/owners superior service and dependable electricity at the lowest possible price, and to improve the economy and quality of life in our community. 0 0 Utilizing 6,818 miles of electric distribution lines, Coast Electric Power Association provided 1,619,898,897 Kilowatt Hours of electric energy to approximately 78,000 residential, commercial and industrial members located in Harrison, Hancock and Pearl River counties (Mississippi). 0 0 0 0 0 0 0 0 0 1 0 1 1 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 73 0 1 299 1 0 0 0 0 0 182777034 8419697 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 Robert J Occhi 2283637000 18020 Hwy 603 Kiln MS 39556 Gordon Redd Jr 9.10 X 37100 0 0 James Ginn 10.50 X 37700 0 0 Gilbert Arceneaux 8.10 X 33900 0 0 Richard Dossett 8.80 X 36900 0 0 James Baldree 10.40 X 38900 0 0 Gordon Lee 6.10 X 30100 0 0 Charles Lopez 9.30 X 36500 0 0 Frank McClinton 9.50 X 37700 0 0 William Mooney 8.20 X 34900 0 0 Robert J Occhi 50.00 X 431024 0 57360 John Holston 40.00 X 204950 0 35535 Steve Pitzer 40.00 X 174026 0 33508 Louis Lee Jr 40.00 X 169020 0 18537 Charles S Brown 40.00 X 167963 0 31065 Newton G Johnson 40.00 X 162363 0 28566 Clement Ladner 40.00 X 164375 0 32752 Ronald G Barnes 40.00 X 167224 0 29851 Marilyn Sefton 40.00 X 160886 0 25947 Eugene T Moore 40.00 X 119770 0 22595 Steven Broussard 40.00 X 108362 0 21733 2353663 0 337449 15 0 1 0 Carson Line Service Inc PO Box 505 Laurel MS 39441 Right of way clearing 1817232 Southeastern Data Coop 100 Ashford Center North Suite 500 Atlanta GA 30338 Software Provider 881418 Asplundh Tree Expert Co 1700 Solutions Center Chicago IL 60677 Right of way clearing 877440 DCL Construction LLC 15420 Highway 603 Kiln MS 39556 Line Locates 603264 Osmose Inc PO Box 8000 Buffalo NY 14267 Pole Inspections 377602 10 Sales of Electricity 221000 182777034 182777034 Patronage Capital 221000 8115150 8115150 190892184 247066 247066 2039100 0 2039100 2039100 2039100 74890 73543 1347 1347 1347 55370 35164 20206 20206 Non-Operating Revenue 221000 764 764 764 193200667 190913154 0 2287513 X 13270686 1837617 4123996 8496281 Cost of Power 132835441 Dist Exp - Maintenance 10674576 Dist Exp - Operations 7127219 Admin & Gen Expenses 6047764 8787087 193200667 1763948 974102 20451081 22608810 64696 39183 1941628 2128087 989229 651274 289179662 63843470 224348824 225336192 44727202 53750567 15607874 20080279 309894482 325568494 20548928 27333655 102602459 97199235 57712386 60794139 180863773 185327029 X 471368 467843 0 0 128559341 139773622 129030709 140241465 309894482 325568494 X 0 11210756 X X 0 1 X 1 1 1 4210129 4210129 26589704 3793105 22796599 258379829 60050365 198329464 225336192 Patronage Capital - SMEPA 47526714 C Patronage Capital - NRUCFC 836274 C Patronage Capital - EPA's of Mississippi 467067 C Patronage Capital - Arkansas Electric 40218 C Patronage Capital - NRTC 6042 C Patronage Capital - SEDC 175182 C Captial Term Certificates 1991741 C Patronage Capital - CoBank 267950 C Patronage Capital - Federated Rural Electric Insurance 397268 C Investments in Economic Development Projects 2040100 C Other Investments in Associated Organizations 2011 C 53750567 Deferred Debits 1178604 Regulatory Asset 13997375 Restricted Investments 4904300 20080279 Accumulated Postretirement Benefit Obligation 16032400 Deferred Credits 7267 Fair Value of Swap Agreement 8888976 Go Zone Bonds Payable 34010000 Regulatory Liability 1855496 60794139 X 193198556 0 193198556 2111 2111 193200667 179927870 0 179927870 13272797 13272797 193200667 Description of Uncertain Tax Positions Under FIN 48: 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 2009. Part XI, Line 4b - Other Adjustments: Reclassification of income items included in expense on financial statements 2,111. Part XII, Line 4b - Other Adjustments: Allocation of Current Year Margins to Members 13,270,686. Reclassification of income items included in expense on financial statements 2,111. X 1 1 X X 0 1 0 Robert J Occhi 344493 0 78550 0 7981 0 40292 0 17068 0 488384 0 0 0 John Holston 164578 0 38571 0 1801 0 15120 0 20415 0 240485 0 0 0 Steve Pitzer 139615 0 32914 0 1497 0 13246 0 20262 0 207534 0 0 0 Louis Lee Jr 136159 0 31454 0 1407 0 11181 0 7356 0 187557 0 0 0 Charles S Brown 133447 0 33210 0 1306 0 10186 0 20879 0 199028 0 0 0 Newton G Johnson 129839 0 30736 0 1788 0 8409 0 20157 0 190929 0 0 0 Clement Ladner 130385 0 30053 0 3937 0 25825 0 6927 0 197127 0 0 0 Ronald G Barnes 132927 0 32915 0 1382 0 9057 0 20794 0 197075 0 0 0 Marilyn Sefton 128085 0 30207 0 2594 0 8668 0 17279 0 186833 0 0 0 Part I, Line 1a The following travel expenses were paid on behalf of the respective directors' travel companions: Gilbert Arceneaux $642 Richard Dossett $523 James Ginn $483 Frank McClinton $642 Gordon Redd, Jr. $652 James Baldree $569 Douglas Mooney $523 Part I, Line 4b Robert J. Occhi - $18,927 Form 990, Part VI, Section A, line 6 Because Coast Electric Power Association is chartered and incorporated under Mississippi law as a not-for-profit cooperative, the charter requires that each person receiving electric service from the association be a member. Form 990, Part VI, Section A, line 7a At each annual meeting of the members, one-third (1/3) of the total number of directors shall be elected by ballot, by and from the members, to serve for a term of three (3) years as provided by law. If the election of directors shall not be held at the annual meeting, or if such annual meeting is not held, each director shall hold office until their successors shall have been elected and qualified. Form 990, Part VI, Section A, line 7b The business and affairs of the Association is managed by the Board of Directors which exercises all of the powers of the Association except such as are by law, or by the Certificate of Consolidation of the Association, or by the bylaws, conferred upon or reserved to the members. Some decisions of the governing body must be approved by the membership. These decisions include, but are not limited to, certain dispositions of property, dissolutions and mergers, as well as changes to the bylaws. Form 990, Part VI, Section B, line 11 Once the Form 990 is completed, the VP of Financial & Administrative Services and the accounting department supervisor reviews the Form 990. After the Form 990 has been reviewed by these individuals, each member of the board of directors receives a copy of the form for his/her review. The VP of Financial & Administrative Services and the accounting department supervisor present a general overview of the forms' questions and answers. Once the presentation is complete, the board members are given an opportunity to ask questions. Once all questions have been satisfactorily answered, the President/CEO will sign the e-file authorization form allowing the Form 990 to be transmitted to the Internal Revenue Service. Form 990, Part VI, Section B, line 12c New vendors are reviewed for possible conflicts with directors/officers. Directors/officers are required to report any new affiliations they may enter into. Form 990, Part VI, Section B, line 15 An executive compensation review was presented to the Board of Directors. The following components were included in the review: (1) Compensation Strategy; (2) Total Executive Compensation Philosophy Statement; (3) Elements of a Compensation Program; (4) Detailed Market Data; (5) Form 990 Explanation; (6) Discussion of Goal Sharing Programs; (7) Review of Current Benefits and Incentives. A recommendation was made to the Board concerning the range movement for the CEO pay grade based on information from the detailed market survey. The CEO and top management pay is based on a pay for performance system where the performance evaluation "grade" is entered into a comprehensive spreadsheet. The spreadsheet is designed to compute a pay raise based on a matrix of four performance levels (average, good, excellent and outstanding) divided into the lower third, middle third and upper third of the pay range. Form 990, Part VI, Section C, line 19 Coast Electric Power Association's governing documents, conflict of interest policy, and financial statements are available to the public upon request at the main office in Kiln, Mississippi. Form 990, Part IX, Line 4 The instructions to the 2012 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. Coast Electric Power Association has interpreted the words patronage dividends paid in the instructions to mean margins that are assigned or assignable to the members. According to Coast Electric Power Association's bylaws, the net margins of the cooperative are assigned and allocated to the members. Therefore, the amount listed in Part IX, Line 4 represents the entire net margins assignable to the members for the calendar year ended December 31, 2012. Changes in Net Assets or Fund Balances: Form 990, Part XI, line 9: Change in memberships -3,525. Retirement of capital credits -2,850,354. Actuarial gain (loss) -206,700. Amortization of actuarial loss 139,300. Gain on retirement of capital credits 861,349. Allocation of Current Year Margins to Members 13,270,686. Form 990, Part XII, Line 2C Coast Electric Power Association has not changed its process of selection or oversight for the year ended December 31, 2012.