2012-07-25T16:48:55-05:00 2011-12-31 631035228 JACKSON THORNTON & CO PC P O Box 96 MONTGOMERY AL 361010096 990 2011-01-01 630196775 Southern Pine Electric Cooperative Inc SOUT 2518675415 PO Box 528 Brewton AL 36427 Jason Jackson 2518675415 2012-07-23 1 PATRICK COOPER P00856177 3348347660 2012-07-23 2011 2016-02-24 21:20:13Z NA VINCE JOHNSON PO Box 528 Brewton AL 36427 48068132 0 X www.southernpine.org X 1939 AL To provide electric utility service to cooperative members. 9 9 78 0 0 0 0 0 50499466 47670477 92763 113188 220401 284467 50812630 48068132 39026 56000 0 3105226 473252 484661 0 0 0 46214483 44422245 46726761 48068132 4085869 0 63506617 66021636 18018383 17267542 45488234 48754094 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 3,253 miles of electric distribution lines, Southern Pine Electric Cooperative, Inc. provided 428,226,386 Kilowatt-Hours of electric energy to approximately 16,768 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 78 1 0 0 0 0 0 46113114 1671150 0 X 9 9 0 0 0 0 1 1 1 1 1 0 0 1 1 0 1 0 1 1 1 0 X Jason Jackson 2518675415 2143 South Blvd BREWTON AL 36426 David Cook Jr 5.00 X 20759 0 0 Bobby Ballard 5.00 X 14624 0 0 Vernon Baggett 19.00 X 24295 0 0 Hilbert Hall 6.00 X 22572 0 0 Aaron White 5.00 X 24013 0 0 Dwight Maloy 3.00 X 21319 0 0 Allen Lang 3.00 X 22379 0 0 Keith Pugh 4.00 X 23990 0 0 Cleveland Roberson 3.00 X 20150 0 0 Vince Johnson 47.00 X 130627 0 43421 Jason Jackson 43.00 X 83656 0 32856 Robert Cotten 50.00 X 105846 0 37176 514230 0 113453 2 0 1 0 Asplundh Tree Expert Company PO BOX 532729 Atlanta GA 30348 Right of way maintenance 651933 Samuel Skipper Construction LLC 523 West Front Street Evergreen AL 36401 Office construction 329592 Southeastern Data Cooperative Inc 100 Ashford Ctr N Ste 500 Atlanta GA 30338 Software support 250355 Southeast Woodland Services 431 Caines Landing Rd Conway SC 29526 Pole inspections and right of way cleari 211933 Altec Industries Inc PO BOX 11407 Birmingham AL 35246 Truck construction and repairs 194438 5 Sales of electricity 221000 46113114 46113114 Patronage Capital 221000 1557363 1557363 47670477 113188 113188 283867 0 283867 283867 283867 Non-operating income 221000 600 600 600 48068132 47671077 0 397055 X 56000 3105226 484661 168023 1811995 Cost of power 34027465 Dist exp - maintenance 2582632 Administrative & genera 2235311 Dist exp - operations 1967394 1629425 48068132 1169842 549646 315610 520410 6256724 6269534 535159 498140 166094 227147 69595385 26866396 41352881 42728989 1000 1000 13702102 15219432 7205 7338 63506617 66021636 3426076 1979031 3320253 3216789 11272054 12071722 18018383 17267542 X 0 0 111009 110724 45377225 48643370 45488234 48754094 63506617 66021636 X 0 3265860 X X 0 1 1 X 0 145784 145784 69449601 26866396 42583205 42728989 Energy resource loans receivable 1968 C Economic Development Loans Receivable 139964 C Patronage Capital - Cooperative Finance Corporation 12441 C Patronage Capital - PowerSouth Energy Cooperative 13988193 C Patronage Capital - United Utility Services 181936 C Patronage Capital - Southeastern Data Cooperative 83071 C Patronage Capital - Gresco Utility Supply, Inc. 76362 C Patronage Capital - Federated Insurance 70836 C Patronage Capital - CoBank 96490 C Patronage Capital - NRTC 53 C Capital Term Certificates - CFC 562061 C Other Investments in associated organizations 6057 C 15219432 Customer deposits 1175829 Accumulated provision for pension and benefits 10895893 12071722 Description of Uncertain Tax Positions Under FIN 48: Part X: 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 2008. 1 MonroevilleMonroe County Economic Development Authority 15 N Mount Pleasant Ave Monroeville AL 36460 271235835 501(c)(3) 10000 Expenses related to economic development activities. Pollard-McCall Junior High School 3975 Old Highway 31 Brewton AL 36426 636000876 N/A 10000 To aid in construction costs of a baseball field. City of Evergreen Economic Development 355 East Front Street Evergreen AL 36401 636001252 N/A 10000 Expenses related to economic development activities. Coastal Gateway Regional Economic Development Alliance 24300 Highway 41 Brewton AL 36426 272954915 501(c)(3) 10000 Expenses related to economic development activities. Atmore Area YMCA 501 S Pensacola Ave Atmore AL 36502 631151492 501(c)(3) 6000 Funding provided for building renovations. Conecuh County Reservoir Management Area Authority PO Box 4 Repton AL 36475 800496340 N/A 10000 Funding provided for public lake construction. 6 Procedure for Monitoring Grants in the U.S.: Part I, Line 2: Schedule I, 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 130627 0 0 0 0 0 28650 0 14771 0 174048 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 the 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 2011 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, 2011. Changes in Net Assets or Fund Balances: Form 990, Part XI, line 5: Amortization of unrecognized losses 104,643. Amortization of the transition obligation 56,276. Change in memberships -285. Net margins assigned to members 3,105,226. Total to Form 990, Part XI, Line 5: 3,265,860. Form 990, Part XII, Line 2c The filing organization did not change its processes of oversight or selection for the year ending 12/31/2011. 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 Southern Pine Electric Cooperative Inc C 10 1.00000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 Southern Pine Electric Trust Inc Q 117452 Cash