2026-03-19T18:57:05-04:00 2025-12-31 853667394 CORBIN & BIGGS PLLC 385-B HIGHLAND COLONY PARKWAY SUIT RIDGELAND MS 39157 990 2025-01-01 640244325 SOUTHWEST MISSISSIPPI ELECTRIC POWER ASSOCIATION SOUT 6014373611 PO BOX 5 LORMAN MS 39096 KEVIN BONDS CEO 6014373611 2026-03-19 true GEORGE M BIGGS JR P00912499 6019572001 2026-03-19 2025 2025-03-06 01:10:19Z KEVIN BONDS PO BOX 5 LORMAN MS 39096 69633634 false X WWW.SOUTHWESTELECTRIC.COOP X 1937 MS MEMBER OWNED ELECTRIC COOPERATIVE. 10 10 99 0 0 64179373 68185096 193437 154312 1335621 1294226 65708431 69633634 0 1570690 1158986 626585 652252 0 0 63511156 67822396 65708431 69633634 0 139826408 151442589 70016540 81374256 69809868 70068333 MEMBER OWNED ELECTRIC COOPERATIVE. false false DISTRIBUTION OF ELECTRIC POWER TO MEMBERS. false false false false false false false false false true false false true true true true false false false false false false false false false false false false true false false false false false false false false false false true false false false true 55 0 true 99 true false false false false false 67478677 1423757 false false false X 10 10 false false false false true true true true true false false true true true true true true true false false X VIRGIL SCOTT 8002878564 18671 HIGHWAY 61 SOUTH LORMAN MS 39090 KEVIN BONDS CEO 40.00 X 339953 0 79516 WILLIAM NEWELL SERVICEMAN 40.00 X 174290 0 39861 DARRYL HASSELL MGR OF ENGIN 40.00 X 156618 0 43879 THOMAS J FLOYD CREW LEADER 40.00 X 158568 0 39568 KEVIN COTTEN MGR. OF OPER 40.00 X 141475 0 47176 VIRGIL SCOTT MGR OF ACCOU 40.00 X 134861 0 30530 MICHAEL JOHNSON CREW LEADER 40.00 X 138065 0 25305 STANLEY RUCKER PRESIDENT 6.00 X X 13500 0 300 PAUL ARNOLD DIRECTOR 5.00 X 7800 0 352 MARK PHILLIP MAHER DIRECTOR 5.00 X 7800 0 352 RANDY WOOLEY VICE PRESIDE 4.50 X X 7500 0 352 JOHN BRADY ASSIST SECRE 4.00 X X 7200 0 352 BETSY MOSBY SECRETARY 3.50 X X 6700 0 352 DIANE DAVAUL DIRECTOR 3.25 X 6300 0 352 EDWARD EDWARDS DIRECTOR 3.00 X 6000 0 352 ROBERT JONES DIRECTOR 3.00 X 6000 0 352 BRIAN DOOLEY DIRECTOR 3.00 X 2000 0 88 JAMES A VENTRESS-RETIRED 325 DIRECTOR 3.25 X 1500 0 39 1316130 309078 37 false true false GOOD HOPE RECOVERY PO BOX 614 NATCHEZ MS 39120 R.O.W. CLEARING 2479250 HARRIS CONSTRUCTION LLC PO BOX 1022 RIDGELAND MS 39158 BUILDING CONSTR 1913580 KILLEN CONTRACTORS INC PO BOX 786 BRANDON MS 39043 CONSTRUCTION 1870123 MDR CONSTRUCTION INC 621 EAST BAYLIS CHAPEL RD COLUMBIA MS 39429 CONTRUCTION 765201 SOUTHERN TREE SERVICE PO BOX 711 MEADVILLE MS 39653 R.O.W. CLEARING 736819 10 OPERATING REVENUES-MEMBER 67457496 67457496 QUALIFIED POLE RENTAL INCOME 727600 727600 68185096 154312 154312 PATRONAGE CAPITAL 1273045 1273045 OTHER MEMBER INCOME 21181 21181 1294226 69633634 68751722 881912 1158986 652252 30582 29261 40965 207418 10915 105512 2752618 4206581 COST OF POWER 42627682 DISTRIBUTION - MAINTENANC 11150947 DISTRIBUTION - OPERATIONS 3126275 CONSUMER ACCOUNTS 1869455 1664185 69633634 0 0 0 3696810 3087915 3499535 4075173 2094987 1617632 440573 548959 154341900 42680222 100278938 111661678 29815565 30451232 139826408 151442589 9111630 10658210 900000 58646951 69403682 1357959 1312364 70016540 81374256 X 100520 100250 69709349 69968083 69809869 70068333 139826409 151442589 X 0 258464 X false true X true false 154341900 42680222 111661678 111661678 PATRONAGE CAPITAL 27026471 UNBILLED REVENUE 2221252 DEFERRED CHARGES 681540 REDLEG NOTES RECEIVABLE 509220 INTEREST RECEIVABLE 12749 30451232 UNFUNDED DEFINED BENEFIT PLAN OBL. 1312364 1312364 X 69633634 69633634 69633634 68474648 68474648 1158986 1158986 69633634 SCHEDULE D, PAGE 3, PART X SWMEPA IS EXEMPT FROM INCOME TAX UNDER SECTION 501(C)(12) OF THE INTERNAL REVENUE CODE AND IS ALSO EXEMPT FROM STATE INCOME TAX. ACCOUNTING RULES PRESCRIBE WHEN TO RECOGNIZE AND HOW TO MEASURE THE FINANCIAL STATEMENT EFFECT, IF ANY, OF INCOME TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN ON INCOME TAX RETURNS INCLUDING THE POSITION THAT THE SWMEPA WILL CONTINUE TO QUALIFY AS A TAX EXEMPT ORGANIZATION. MANAGEMENT EVALUATES THE LIKELIHOOD THAT, UPON EXAMINATION BY RELEVANT TAXING JURISDICTIONS, THOSE INCOME TAX POSITIONS WOULD BE SUSTAINED. BASED ON THAT EVALUATION, IF IT WERE MORE THAN 50% PROBABLE THAT A MATERIAL AMOUNT OF INCOME TAX WOULD BE IMPOSED ON SWMEPA UPON EXAMINATION BY THE RELEVANT TAXING AUTHORITIES, A LIABILITY WOULD BE RECOGNIZED IN THE BALANCE SHEET ALONG WITH ANY INTEREST AND PENALTIES THAT WOULD RESULT FROM THAT ASSESSMENT. SHOULD ANY PENALTIES AND INTEREST BE INCURRED, SWMEPA'S POLICY WOULD BE TO RECOGNIZE THEM AS OPERATING EXPENSES. BASED ON MANAGEMENT'S EVALUATION, NO LIABILITIES OR PENALTIES AND INTEREST WERE REQUIRED TO BE RECORDED FOR UNCERTAIN TAX POSITIONS. YEARS THAT REMAIN SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE AND THE STATE OF MISSISSIPPI AS OF DECEMBER 31, 2025 WERE 2023- 2025. SCHEDULE D, PAGE 4, PART XII, LINE 4B PATRONAGE CAPITAL ALLOCATED TO MEMBERS 1,158,986 X false false false KEVIN BONDS CEO 339953 54874 24642 419469 WILLIAM NEWELL SERVICEMAN 174290 17025 22836 214151 DARRYL HASSELL MGR OF ENGINEER 156618 25134 18745 200497 THOMAS J FLOYD CREW LEADER 158568 16325 23243 198136 KEVIN COTTEN MGR. OF OPERATIONS 141475 23394 23782 188651 VIRGIL SCOTT MGR OF ACCOUNTING 134861 21681 8849 165391 MICHAEL JOHNSON CREW LEADER 138065 16816 8489 163370 FORM 990, PAGE 6, PART VI, LINE 6 YES FORM 990, PAGE 6, PART VI, LINE 7A BOARD IS ELECTED BY MEMBERS. FORM 990, PAGE 6, PART VI, LINE 7B MEMBERS RATIFY THE ACTIONS OF THE BOARD OF DIRECTORS AT THE ANNUAL MEETING EACH YEAR. FORM 990, PAGE 6, PART VI, LINE 11B THE 990 IS REVIEWED BY THE GENERAL MANAGER AND MANAGER OF ACCOUNTING/FINANCE PRIOR TO FILING. A FULL COPY OF THE 990 IS PRESENTED TO THE BOARD PRIOR TO FILING. FORM 990, PAGE 6, PART VI, LINE 12C ANNUALLY THE BOARD IS ASKED TO DISCLOSE INTERESTS THAT MIGHT GIVE RISE TO CONFLICTS. A FORM IS GIVEN TO EACH BOARD MEMBER TO FACILITATE THIS PROCESS AND DOCUMENT CONFLICTS, IF ANY. FORM 990, PAGE 6, PART VI, LINE 15A APPROVED BY BOARD OF DIRECTORS ANNUALLY. FORM 990, PAGE 6, PART VI, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AVAIALBLE TO MEMBERS UPON REQUEST. FORM 990, PART XI PART IX , LINE 4- AMOUNTS ENTERED REPRESENT CAPITAL CREDITS ALLOCATED TO MEMBERS FOR 2025, NOT CAPITAL CREDITS RETIRED. THE ACTUAL RETIREMENT AMOUNT LESS DISCOUNTS WAS 1,618,279 PART IX, SALARIES, BENEFITS, AND PAYROLL TAXES- THE ORGANIZATION IS REQUIRED TO FOLLOW REGULATED ACCOUNTING PROCEDURES PRESCRIBED BY THE RURAL UTILITIES SERVICES. COMPENSATION IS ALLOCATED TO PLANT AND EXPENSES. COMPENSATION FOR OFFICERS AND HCE'S HAVE BEEN PRESENTED. ALL OTHER COMPENSATION HAS BEEN PRESENTED IN CATEGORIES WHERE IT WAS ALLOCATED UNDER THE ABOVE REGULATIONS. FORM 990, PART XI, LINE 9 UNCLAIMED CAPITAL CREDITS 723,991 CAPITAL CREDIT DISCOUNTS 75,464 ALLOCATION OF PATRONAGE 1,158,986 ACTUARIAL GAIN ARISING IN YEAR 38,154 DECRESE IN MEMBERSHIPS -270 AMORTIZATION-ACTUARIAL GAIN -44,119 CAPITAL CREDITS RETIRED -1,693,742 TOTAL 258,464 SOUTHWEST FIBER LLC 18671 HIGHWAY 61 LORMAN MS 39096 931959713 MS N/A