2011-06-28T08:41:19-05:00 2010-12-31 JACKSON THORNTON & CO PC P O BOX 96 MONTGOMERY AL 361010096 990 2010-01-01 640169075 COAST ELECTRIC POWER ASSOCIATION COAS 2283637000 P O BOX 2430 BAY ST LOUIS MS 39521 ROBERT J OCCHI 2283637000 2011-05-17 1 PATRICK COOPER 3348347660 2011-05-16 2010 2016-02-24 21:20:13Z ROBERT J OCCHI P O BOX 2430 BAY ST LOUIS MS 39521 202445828 0 X WWW.COASTEPA.COM X 1937 MS TO PROVIDE ELECTRICITY TO RURAL AREAS OF HANCOCK, HARRISON AND PEARL RIVER COUNTIES. 9 9 281 0 0 0 0 0 197291885 201397407 1172860 183556 1897858 827415 200362603 202408378 0 0 0 0 961773 1875941 0 0 0 188341098 187363568 189302871 189239509 11059732 13168869 278860524 288148608 173936795 170764476 104923729 117384132 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 6,709 MILES OF ELECTRIC DISTRIBUTION LINES, COAST ELECTRIC POWER ASSOCIATION PROVIDED 1,754,672,893 KILOWATT HOURS OF ELECTRIC ENERGY TO APPROXIMATELY 75,554 RESIDENTIAL, COMMERCIAL AND INDUSTRIAL MEMBERS LOCATED IN HARRISON, HANCOCK AND PEARL RIVER COUNTIES (MISSISSIPPI). 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 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 61 0 1 281 1 0 0 0 0 0 195864873 5763253 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 10.50 X 35300 0 0 JAMES BALDREE 12.00 X 39700 0 0 RICHARD DOSSETT 11.00 X 38900 0 0 JAMES GINN 10.00 X 36300 0 0 GORDON LEE 6.00 X 30500 0 0 CHARLES LOPEZ 12.50 X 35100 0 0 FRANK MCCLINTON 10.00 X 36500 0 0 DOUGLAS MOONEY 9.00 X 36100 0 0 GORDON REDD JR 10.00 X 36500 0 0 ROBERT J OCCHI 50.00 X 395503 0 98758 JOHN HOLSTON 42.00 X 188940 0 53627 STEVE PITZER 40.00 X 167947 0 49030 DAVID HENSLEY 40.00 X 161284 0 47698 CLEMENT LADNER 40.00 X 151923 0 36140 CHARLES S BROWN 55.00 X 154123 0 46068 LOUIS LEE JR 40.00 X 157525 0 38408 RON BARNES 50.00 X 146735 0 45823 NEWTON G JOHNSON 42.00 X 146486 0 44724 MARILYN SEFTON 45.00 X 147266 0 44069 HAROLD R OLIER 40.00 X 117770 0 37940 2260402 0 542285 15 0 1 0 ROD COOKE CONSTRUCTION INC 3496 HALLS MILL ROAD MOBILE AL 36693 BUILDER 4434375 CARSON LINE SERVICE INC 172 LOWER MYRICK ROAD LAUREL MS 39443 RIGHT OF WAY CLEARING 1998098 ASPLUNDH TREE EXPERT CO 1700 SOLUTIONS CENTER CHICAGO IL 60677 RIGHT OF WAY CLEARING 1166240 BAKER SERVICE COMPANY PO BOX 6717 JACKSON MS 39282 CONTRACT METER READERS 875338 DCL CONSTRUCTION 15420 HIGHWAY 603 KILN MS 39556 LINE LOCATES 794548 14 SALES OF ELECTRICITY 221000 195864873 195864873 PATRONAGE CAPITAL 221000 5532534 5532534 201397407 191183 191183 817702 817702 817702 817702 7627 -7627 -7627 -7627 39093 29823 9270 9270 NON-OPERATING REVENUE 221000 443 443 443 202408378 201407120 0 1001258 1875941 5701143 7463726 COST OF POWER 139277008 DIST EXP - MAINTENANCE 10919559 DIST EXP - OPERATIONS 6585828 CONSUMER ACCOUNTS EXP 6304722 ADMIN & GEN EXPENSES 4496720 6614862 189239509 2929684 1315361 5748 6068 23363031 22772925 113378 108308 1946103 1673993 268718 240051 269153621 58637028 195165278 210516593 34313991 39492023 20754593 12023286 278860524 288148608 13964063 15681403 108408438 101402397 51564294 53680676 173936795 170764476 X 470331 467518 0 0 104453398 116916614 104923729 117384132 278860524 288148608 X 13168869 -708466 X X 0 1 1 X 1 1 3747488 3747488 16222441 2805188 13417253 249183692 55831840 193351852 210516593 PATRONAGE CAPITAL - SMEPA 34971168 C PATRONAGE CAPITAL - NRUCFC 714370 C PATRONAGE CAPITAL - EPA'S OF MISSISSIPPI 387639 C PATRONAGE CAPITAL - ARKANSAS ELECTRIC 40218 C PATRONAGE CAPITAL - NRTC 4057 C PATRONAGE CAPITAL - SEDC 106290 C CAPTIAL TERM CERTIFICATES 2015398 C PATRONAGE CAPITAL - COBANK 29983 C PATRONAGE CAPITAL - FEDERATED RURAL ELECTRIC INSURANCE 346339 C INVESTMENTS IN ECONOMIC DEVELOPMENT PROJECTS 874550 C OTHER INVESTMENTS IN ASSOCIATED ORGANIZATIONS 2011 C 39492023 ACCUMULATED POSTRETIREMENT BENEFIT OBLIGATION 11267800 DEFERRED CREDITS 51564 FAIR VALUE OF SWAP AGREEMENT 4919921 GO ZONE BONDS PAYABLE 35500000 REGULATORY LIABILITY 1941391 53680676 202408378 189239509 13168869 -708466 -708466 12460403 202416005 0 202416005 -7627 -7627 202408378 189247136 7627 7627 189239509 0 189239509 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 2007. PART XI, LINE 8 - OTHER ADJUSTMENTS: CHANGE IN MEMBERSHIPS -2,813. CAPITAL CREDIT RETIREMENTS -2,505,243. ACTUARIAL GAIN 866,400. AMORTIZATION OF ACTUARIAL LOSS 199,400. GAIN ON RETIREMENT OF CAPITAL CREDITS 733,790. PART XII, LINE 4B - OTHER ADJUSTMENTS: LOSS ON DISPOSAL OF EQUIPMENT -7,627. PART XIII, LINE 2D - OTHER ADJUSTMENTS: LOSS ON DISPOSAL OF EQUIPMENT 7,627. X X 1 1 X 0 0 0 ROBERT J OCCHI 301842 0 69314 0 24347 0 86243 0 12515 0 494261 0 0 0 JOHN HOLSTON 146027 0 34032 0 8881 0 41112 0 12515 0 242567 0 0 0 STEVE PITZER 127929 0 31942 0 8076 0 36515 0 12515 0 216977 0 0 0 DAVID HENSLEY 124313 0 29112 0 7859 0 35183 0 12515 0 208982 0 0 0 CLEMENT LADNER 115636 0 26541 0 9746 0 31634 0 4506 0 188063 0 0 0 CHARLES S BROWN 119697 0 28212 0 6214 0 33553 0 12515 0 200191 0 0 0 LOUIS LEE JR 121961 0 27971 0 7593 0 33902 0 4506 0 195933 0 0 0 RON BARNES 117660 0 27605 0 1470 0 33308 0 12515 0 192558 0 0 0 NEWTON G JOHNSON 112841 0 26513 0 7132 0 32209 0 12515 0 191210 0 0 0 MARILYN SEFTON 112258 0 26524 0 8484 0 31590 0 12479 0 191335 0 0 0 HAROLD R OLIER 98926 0 12553 0 6291 0 26135 0 11805 0 155710 0 0 0 PART I, LINE 1A LOUIS LEE, JR. RECEIVED A $100.00 REIMBURSEMENT FOR HEALTH CLUB DUES THAT HE PAID AS PART OF HIS COMPENSATION. COAST ELECTRIC POWER ASSOCIATION PAID THE REGISTRATION FEES TO ATTEND THE NRECA ANNUAL MEETING AND THE EPA ANNUAL MEETING ON BEHALF OF THE DIRECTORS' TRAVEL COMPANIONS. HOWEVER, COAST ELECTRIC POWER ASSOCIATION DID NOT PAY FOR THE ACTUAL TRAVEL EXPENSES FOR THE DIRECTORS' TRAVEL COMPANIONS. THE FOLLOWING REGISTRATION FEES WERE PAID ON BEHALF OF THE RESPECTIVE DIRECTORS' TRAVEL COMPANION: GILBERT ARCENEAUX $200.00 RICHARD DOSSETT $200.00 JAMES GINN $50.00 CHARLES LOPEZ $200.00 FRANK MCCLINTON $200.00 GORDON REDD, JR. $200.00 JAMES BALDREE $200.00 GORDON LEE $150.00 DOUGLAS MOONEY $200.00 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 IT AND SUBMIT IT TO THE IRS. 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 THE CEO AND KEY EMPLOYEE PERFORMANCE RATINGS WERE ENTERED INTO A PAY RAISE WORKSHEET AND, USING FORMULAS AND MATRICES, A RAISE WAS DETERMINED BASED ON THE PERFORMANCE RATING AND POSITION IN THE PAY GRADE 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 -2,813. CAPITAL CREDIT RETIREMENTS -2,505,243. ACTUARIAL GAIN 866,400. AMORTIZATION OF ACTUARIAL LOSS 199,400. GAIN ON RETIREMENT OF CAPITAL CREDITS 733,790. TOTAL TO FORM 990, PART XI, LINE 5: -708,466. FORM 990, PART XII, LINE 2C COAST ELECTRIC POWER ASSOCIATION HAS NOT CHANGED IS PROCESS OF SELECTION OR OVERSIGHT FOR THE YEAR ENDED DECEMBER 31, 2010.