2012-06-12T13:21:11-05:00 2011-12-31 631035228 JACKSON THORNTON & CO PC P O BOX 96 MONTGOMERY AL 361010096 990 2011-01-01 640169075 COAST ELECTRIC POWER ASSOCIATION COAS 2283637000 P O BOX 2430 BAY ST LOUIS MS 39521 ROBERT J OCCHI 2283637000 2012-06-01 1 PATRICK COOPER P00856177 3348347660 2012-06-01 2011 2016-02-24 21:20:13Z ROBERT J OCCHI P O BOX 2430 BAY ST LOUIS MS 39521 191834615 0 X WWW.COASTEPA.COM X 1937 MS TO PROVIDE ELECTRICITY TO RURAL AREAS OF HANCOCK, HARRISON AND PEARL RIVER COUNTIES. 9 9 295 0 0 0 0 0 201397407 187544909 183556 308192 827415 3807322 202408378 191660423 0 0 0 13492806 1875941 2075064 0 0 0 187363568 176092553 189239509 191660423 13168869 0 288148608 309894482 170764476 180863773 117384132 129030709 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 6,789 MILES OF ELECTRIC DISTRIBUTION LINES, COAST ELECTRIC POWER ASSOCIATION PROVIDED 1,713,795,980 KILOWATT HOURS OF ELECTRIC ENERGY TO APPROXIMATELY 76,000 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 0 1 76 0 1 295 1 0 0 0 0 0 181892012 6316304 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 2284676535 18020 HWY 603 KILN MS 39556 GILBERT ARCENEAUX 8.00 X 33850 0 0 JAMES BALDREE 8.40 X 35300 0 0 RICHARD DOSSETT 9.30 X 36500 0 0 JAMES GINN 8.50 X 34950 0 0 GORDON LEE 5.40 X 29700 0 0 CHARLES LOPEZ 8.50 X 34550 0 0 FRANK MCCLINTON 9.50 X 37700 0 0 DOUGLAS MOONEY 9.30 X 36900 0 0 GORDON REDD JR 8.40 X 35450 0 0 ROBERT J OCCHI 45.00 X 399749 0 102007 JOHN HOLSTON 45.00 X 189449 0 55735 STEVE PITZER 40.00 X 163457 0 50127 DAVID HENSLEY 40.00 X 164626 0 47035 LOUIS LEE JR 40.00 X 157965 0 40189 CLEMENT LADNER 45.00 X 152411 0 36487 CHARLES S BROWN 50.00 X 153331 0 47596 RON BARNES 50.00 X 146743 0 48278 NEWTON G JOHNSON 45.00 X 146461 0 46375 MARILYN SEFTON 45.00 X 147873 0 46370 EUGENE T MOORE 50.00 X 128223 0 39146 HAROLD R OLIER 40.00 X 122272 0 36918 2387460 0 596263 15 0 1 0 CARSON LINE SERVICE INC 172 LOWER MYRICK ROAD LAUREL MS 39443 RIGHT OF WAY CLEARING 1882539 ROD COOKE CONSTRUCTION INC 3496 HALLS MILL ROAD MOBILE AL 36693 BUILDER 1643584 ASPLUNDH TREE EXPERT CO 1700 SOLUTIONS CENTER CHICAGO IL 60677 RIGHT OF WAY CLEARING 1054522 BAKER SERVICE COMPANY PO BOX 6717 JACKSON MS 39282 CONTRACT METER READERS 768184 DCL CONSTRUCTION 15420 HIGHWAY 603 KILN MS 39556 LINE LOCATES 682158 15 SALES OF ELECTRICITY 221000 181892012 181892012 PATRONAGE CAPITAL 221000 5652897 5652897 187544909 419124 419124 3603388 3603388 3603388 3603388 22911 133843 -110932 -110932 -110932 52993 40349 12644 12644 NON-OPERATING REVENUE 221000 191290 191290 191290 191660423 187748843 0 3911580 13492806 2075064 4751014 8119383 COST OF POWER 131602043 DIST EXP - MAINTENANCE 10138037 DIST EXP - OPERATIONS 7131119 CONSUMER ACCOUNTS EXP 5714740 8636217 191660423 1315361 1763948 6068 22772925 20451081 108308 64696 1673993 1941628 240051 266100 284843078 60494254 210516593 224348824 39492023 44727202 12023286 16331003 288148608 309894482 15681403 20548928 101402397 102602459 53680676 57712386 170764476 180863773 X 467518 471368 0 0 116916614 128559341 117384132 129030709 288148608 309894482 X 0 11646577 X X 0 1 1 X 1 1 4168406 4168406 26304408 3237415 23066993 254370264 57256839 197113425 224348824 PATRONAGE CAPITAL - SMEPA 40123189 C PATRONAGE CAPITAL - NRUCFC 783732 C PATRONAGE CAPITAL - EPA'S OF MISSISSIPPI 414693 C PATRONAGE CAPITAL - ARKANSAS ELECTRIC 40218 C PATRONAGE CAPITAL - NRTC 6042 C PATRONAGE CAPITAL - SEDC 138515 C CAPTIAL TERM CERTIFICATES 2004263 C PATRONAGE CAPITAL - COBANK 115955 C PATRONAGE CAPITAL - FEDERATED RURAL ELECTRIC INSURANCE 371434 C INVESTMENTS IN ECONOMIC DEVELOPMENT PROJECTS 727150 C OTHER INVESTMENTS IN ASSOCIATED ORGANIZATIONS 2011 C 44727202 INTEREST AND DIVIDENDS RECEIVABLE 39339 DEFERRED DEBITS 1307062 REGULATORY ASSET 9330812 CASH SURRENDER VALUE OF LIFE INSURANCE 683790 RESTRICTED INVESTMENTS 4970000 16331003 ACCUMULATED POSTRETIREMENT BENEFIT OBLIGATION 11638900 DEFERRED CREDITS 31593 FAIR VALUE OF SWAP AGREEMENT 9330812 GO ZONE BONDS PAYABLE 34770000 REGULATORY LIABILITY 1941081 57712386 191660423 191660423 0 11646577 11646577 11646577 191771355 0 191771355 -110932 -110932 191660423 178278549 110932 110932 178167617 13492806 13492806 191660423 DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: 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 2008. PART XI, LINE 8 - OTHER ADJUSTMENTS: CHANGE IN MEMBERSHIPS 3,850. RETIREMENT OF CAPITAL CREDITS -2,801,592. ACTUARIAL GAIN (LOSS) -2,900. AMORTIZATION OF ACTUARIAL LOSS 155,500. GAIN ON RETIREMENT OF CAPITAL CREDITS 798,913. ALLOCATION OF CURRENT YEAR MARGINS TO MEMBERS 13,492,806. TOTAL TO SCHEDULE D, PART XI, LINE 8: 11,646,577. PART XII, LINE 4B - OTHER ADJUSTMENTS: LOSS ON DISPOSAL OF EQUIPMENT INCLUDED IN INCOME ON FINANCIAL STATEMENTS -110,932. PART XIII, LINE 2D - OTHER ADJUSTMENTS: LOSS ON DISPOSAL OF EQUIPMENT INCLUDED IN INCOME ON FINANCIAL STATEMENTS 110,932. PART XIII, LINE 4B - OTHER ADJUSTMENTS: ALLOCATION OF CURRENT YEAR MARGINS TO MEMBERS 13,492,806. X 0 0 0 ROBERT J OCCHI 313855 0 61621 0 24273 0 88560 0 13447 0 501756 0 0 0 JOHN HOLSTON 149813 0 29957 0 9679 0 42288 0 13447 0 245184 0 0 0 STEVE PITZER 129216 0 25961 0 8280 0 36680 0 13447 0 213584 0 0 0 DAVID HENSLEY 128401 0 26610 0 9615 0 36544 0 10491 0 211661 0 0 0 LOUIS LEE JR 125436 0 24701 0 7828 0 34860 0 5329 0 198154 0 0 0 CLEMENT LADNER 118926 0 23362 0 10123 0 32284 0 4203 0 188898 0 0 0 CHARLES S BROWN 123824 0 25031 0 4476 0 34149 0 13447 0 200927 0 0 0 RON BARNES 120821 0 24433 0 1489 0 34831 0 13447 0 195021 0 0 0 NEWTON G JOHNSON 115678 0 23330 0 7453 0 32928 0 13447 0 192836 0 0 0 MARILYN SEFTON 115662 0 23452 0 8759 0 32923 0 13447 0 194243 0 0 0 EUGENE T MOORE 98978 0 10255 0 18990 0 25699 0 13447 0 167369 0 0 0 HAROLD R OLIER 101294 0 11485 0 9493 0 26427 0 10491 0 159190 0 0 0 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 CHIEF FINANCIAL OFFICER 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 CHIEF FINANCIAL OFFICER 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. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: CHANGE IN MEMBERSHIPS 3,850. RETIREMENT OF CAPITAL CREDITS -2,801,592. ACTUARIAL GAIN (LOSS) -2,900. AMORTIZATION OF ACTUARIAL LOSS 155,500. GAIN ON RETIREMENT OF CAPITAL CREDITS 798,913. ALLOCATION OF CURRENT YEAR MARGINS TO MEMBERS 13,492,806. TOTAL TO FORM 990, PART XI, LINE 5: 11,646,577. 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, 2011. 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. 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, 2011.