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← COOPERATIVE ENERGY A MISSISSIPPI ELECTRIC COOPERATIVE

Form 990 for tax year 2023

Filed by COOPERATIVE ENERGY A MISSISSIPPI ELECTRIC COOPERATIVE.

Totals

Total revenue
$1,009,490,161
Total expenses
$1,009,490,161
Contributions and grants received
$0
Grants paid
$397,275
Program service revenue
$1,007,193,915
Investment income
$2,296,246
Other revenue
$0
Total assets, end of year
$2,244,889,278
Total liabilities, end of year
$1,779,770,466
Net assets or fund balances, end of year
$465,118,812
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
not reported

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 2a · Program service revenue: REVENUE FROM MEMBERS

    total $820,313,233 · related or exempt $820,313,233

  • 2b · Program service revenue: REVENUE FROM NON-MEMBERS

    total $186,572,749 · related or exempt $186,572,749

  • 2c · Program service revenue: PROGRAM RELATED INVESTMENTS

    total $307,933 · related or exempt $307,933

  • 4 · Income from investment of tax-exempt bond proceeds

    total $1,890,361 · excluded $1,890,361

  • 7a · Gross sales of assets other than inventory

    other assets $405,885

  • 7b · Less cost or other basis and sales expenses

    other assets $0

  • 7c · Gain or loss

    other assets $405,885

  • 7d · Net gain or loss

    total $405,885 · related or exempt $405,885

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $397,275

  • 4 · Benefits paid to or for members

    total $20,000,000

  • 5 · Compensation of officers, directors and key employees

    total $5,484,263

  • 7 · Other salaries and wages

    total $46,741,245

  • 8 · Pension plan contributions

    total $10,280,157

  • 9 · Other employee benefits

    total $7,493,141

  • 10 · Payroll taxes

    total $4,473,999

  • 11b · Fees: legal

    total $480,936

  • 11c · Fees: accounting

    total $526,889

  • 11f · Fees: investment management

    total $454,865

  • 11g · Fees: other

    total $1,957,526

  • 12 · Advertising and promotion

    total $549,473

  • 13 · Office expenses

    total $3,650,318

  • 14 · Information technology

    total $3,459,479

  • 17 · Travel

    total $1,057,140

  • 20 · Interest

    total $45,717,776

  • 22 · Depreciation, depletion and amortization

    total $95,434,142

  • 23 · Insurance

    total $5,433,356

  • 24a · Other expenses: PURCHASED POWER FOR RES

    total $329,756,923

  • 24b · Other expenses: COAL, NAT GAS, NUCLEAR

    total $282,521,819

  • 24c · Other expenses: GENERATION PLANT O&M

    total $70,299,576

  • 24d · Other expenses: TRANSMISSION SYS. O&M

    total $62,735,001

  • 24e · All other expenses

    total $10,584,862

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $23,197,164 · end of year $14,308,713

  • 2 · Savings and temporary cash investments

    beginning of year $53,163,624 · end of year $61,871,345

  • 4 · Accounts receivable

    beginning of year $90,804,908 · end of year $80,238,972

  • 8 · Inventories for sale or use

    beginning of year $56,229,435 · end of year $61,189,874

  • 9 · Prepaid expenses and deferred charges

    beginning of year $196,886,661 · end of year $187,961,060

  • 10a · Land, buildings and equipment: cost or other basis

    $2,910,715,064

  • 10b · Land, buildings and equipment: accumulated depreciation

    $1,206,692,573

  • 10c · Land, buildings and equipment, net

    beginning of year $1,648,616,454 · end of year $1,704,022,491

  • 13 · Investments: program-related

    beginning of year $119,749,054 · end of year $134,924,280

  • 15 · Other assets

    beginning of year $640,968 · end of year $372,543

  • 17 · Accounts payable and accrued expenses

    beginning of year $132,158,800 · end of year $117,696,554

  • 23 · Secured mortgages and notes payable

    beginning of year $1,164,001,641 · end of year $1,124,533,933

  • 24 · Unsecured notes and loans payable

    beginning of year $180,547,215 · end of year $312,733,222

  • 25 · Other liabilities

    beginning of year $257,461,800 · end of year $224,806,757

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $455,118,812 · end of year $465,118,812

Mission and programs · 2023

Mission

PROVIDE AND TRANSMIT THROUGH GENERATION AND PURCHASE OF ELECTRICITY, WHOLESALE ELECTRICITY TO 11 MEMBER OWNER COOPERATIVES, EACH SERVING RETAIL CONSUMERS.

Activities or mission (Part I)

PROVIDE AND TRANSMIT THROUGH GENERATION AND PURCHASE OF ELECTRICITY, WHOLESALE ELECTRICITY TO 11 MEMBER OWNED DISTRIBUTION COOPERATIVES, EACH SERVING RETAIL CONSUMERS.

  • PROVIDE AFFORDABLE AND RELIABLE ELECTRIC ENERGY TO MEMBER COOPERATIVES. THE 11 MEMBER COOPERATIVES PROVIDE SERVICE TO APPROXIMATELY 451,000 METERS IN MISSISSIPPI. COOPERATIVE ENERGY AND THE 11 MEMBER SYSTEMS ARE CONSUMER-OWNED, NON-PROFIT BUSINESSES. DURING 2023, COOPERATIVE ENERGY PROVIDED MEMBER SYSTEMS WITH 10,124,240 MWH OF ENERGY.

As filed on the 2023 return.

Listed in Part VII

  • Jeff Bowman

    PRESIDENT/CEO

    Total calculated
    $1,129,992
    From this org
    $916,889
    From related orgs
    $0
    Other
    $213,103
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $904,543
    Bonus
    $7,500
    Other
    $4,846
    Deferred
    $185,859
    Nontaxable benefits
    $27,244
    Filer's total
    $1,129,992

  • Christa Bishop

    SR VICE PRESIDENT/CCO

    Total calculated
    $443,647
    From this org
    $328,916
    From related orgs
    $0
    Other
    $114,731
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $313,943
    Bonus
    $10,324
    Other
    $4,649
    Deferred
    $87,545
    Nontaxable benefits
    $27,186
    Filer's total
    $443,647

  • Gary Hutson

    SR VICE PRESIDENT/COO

    Total calculated
    $441,276
    From this org
    $332,568
    From related orgs
    $0
    Other
    $108,708
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $318,134
    Bonus
    $10,723
    Other
    $3,711
    Deferred
    $79,410
    Nontaxable benefits
    $29,298
    Filer's total
    $441,276

  • Kevin Grace

    SR. VICE PRESIDENT/ CFO

    Total calculated
    $391,347
    From this org
    $297,797
    From related orgs
    $0
    Other
    $93,550
    Hours/week
    44

    Schedule J breakdown matched by us

    Base
    $282,536
    Bonus
    $8,087
    Other
    $7,174
    Deferred
    $67,031
    Nontaxable benefits
    $26,519
    Filer's total
    $391,347

  • Don Hinton

    SR VICE PRESIDENT/CCO

    Total calculated
    $383,916
    From this org
    $296,104
    From related orgs
    $0
    Other
    $87,812
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $279,267
    Bonus
    $8,034
    Other
    $8,803
    Deferred
    $60,020
    Nontaxable benefits
    $27,792
    Filer's total
    $383,916

  • Mark Smith

    SR VICE PRESIDENT POWER GE

    Total calculated
    $495,404
    From this org
    $330,138
    From related orgs
    $0
    Other
    $165,266
    Hours/week
    48

    Schedule J breakdown matched by us

    Base
    $315,152
    Bonus
    $10,323
    Other
    $4,663
    Deferred
    $138,870
    Nontaxable benefits
    $26,396
    Filer's total
    $495,404

  • James Evans

    SR VICE PRESIDENT/POWER DE

    Total calculated
    $381,744
    From this org
    $255,510
    From related orgs
    $0
    Other
    $126,234
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $241,666
    Bonus
    $7,645
    Other
    $6,199
    Deferred
    $101,334
    Nontaxable benefits
    $24,900
    Filer's total
    $381,744

  • Brandon Sanders

    PLANT SUPERINTENDENT

    Total calculated
    $276,968
    From this org
    $212,064
    From related orgs
    $0
    Other
    $64,904
    Hours/week
    44

    Schedule J breakdown matched by us

    Base
    $196,306
    Bonus
    $6,413
    Other
    $9,345
    Deferred
    $37,584
    Nontaxable benefits
    $27,320
    Filer's total
    $276,968

  • Mark Dodd

    VP INFORMATION SYSTEMS

    Total calculated
    $303,242
    From this org
    $209,882
    From related orgs
    $0
    Other
    $93,360
    Hours/week
    42

    Schedule J breakdown matched by us

    Base
    $192,592
    Bonus
    $6,255
    Other
    $11,035
    Deferred
    $67,112
    Nontaxable benefits
    $26,248
    Filer's total
    $303,242

  • Jeff Brown

    PLANT SUPERINTENDENT

    Total calculated
    $281,902
    From this org
    $205,147
    From related orgs
    $0
    Other
    $76,755
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $194,233
    Bonus
    $5,249
    Other
    $5,665
    Deferred
    $48,968
    Nontaxable benefits
    $27,787
    Filer's total
    $281,902

  • Ron Barnes

    DIRECTOR

    Total calculated
    $33,901
    From this org
    $33,901
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.91

  • Kevin Bonds

    DIRECTOR

    Total calculated
    $32,800
    From this org
    $32,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.14

  • Joel Cunningham

    DIRECTOR

    Total calculated
    $34,943
    From this org
    $34,943
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.46

  • Howard Davis

    DIRECTOR

    Total calculated
    $34,693
    From this org
    $34,693
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.23

  • Richard Dossett

    DIRECTOR

    Total calculated
    $33,903
    From this org
    $33,903
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.89

  • Teri Eaton

    DIRECTOR

    Total calculated
    $33,561
    From this org
    $33,561
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.62

  • Carl Fuller

    DIRECTOR

    Total calculated
    $17,464
    From this org
    $17,464
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.08

  • Harry Howarth

    DIRECTOR

    Total calculated
    $34,488
    From this org
    $34,488
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.47

  • Brian Hughey

    DIRECTOR

    Total calculated
    $32,400
    From this org
    $32,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.31

  • Keith Hurt

    DIRECTOR

    Total calculated
    $34,800
    From this org
    $34,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    7.13

  • Michael Neely

    DIRECTOR

    Total calculated
    $31,200
    From this org
    $31,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.77

  • David O'Bryan

    DIRECTOR

    Total calculated
    $34,142
    From this org
    $34,142
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.93

  • Tim Perkins

    DIRECTOR

    Total calculated
    $32,400
    From this org
    $32,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.93

  • Chris Rhodes

    DIRECTOR

    Total calculated
    $34,000
    From this org
    $34,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.41

  • Randy Smith

    DIRECTOR

    Total calculated
    $32,800
    From this org
    $32,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.2

  • Robert Smith

    DIRECTOR

    Total calculated
    $32,274
    From this org
    $32,274
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.01

  • Scott Smith

    DIRECTOR

    Total calculated
    $15,269
    From this org
    $15,269
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.25

  • Darrell Smith

    DIRECTOR

    Total calculated
    $41,803
    From this org
    $41,803
    From related orgs
    $0
    Other
    $0
    Hours/week
    8.74

  • Bryan Thomas

    DIRECTOR

    Total calculated
    $33,644
    From this org
    $33,644
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.61

  • Louis Thompson

    DIRECTOR

    Total calculated
    $34,981
    From this org
    $34,981
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.34

  • Richard Thoms

    DIRECTOR

    Total calculated
    $33,218
    From this org
    $33,218
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.23

  • Mike Tyner

    DIRECTOR

    Total calculated
    $34,532
    From this org
    $34,532
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.84

  • Matthew Ware

    DIRECTOR

    Total calculated
    $32,000
    From this org
    $32,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.19

  • Danny Wilks

    DIRECTOR

    Total calculated
    $32,070
    From this org
    $32,070
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.26

  • Randy Woolley

    DIRECTOR

    Total calculated
    $33,330
    From this org
    $33,330
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.31

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Independent compensation consultant
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

The 10 largest by cash amount. The API serves every itemized grant.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • COOPERATIVE ENERGY GRAND GULF I DECOMMISSIONING TRUST

    T · INVESTMENTS · MS · 100% owned · share of income $1,920,340 · share of assets $122,547,846

    Directly controlled by COOPERATIVE ENERGY

Provenance

Return type
form_990
Tax year
2023
Filed
28 October 2024
IRS schema version
2023v5.1
Source object
202403039349301135

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