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Nonprofiteer
← COOPERATIVE ENERGY A MISSISSIPPI ELECTRIC COOPERATIVE

Form 990 for tax year 2022

Filed by COOPERATIVE ENERGY A MISSISSIPPI ELECTRIC COOPERATIVE.

Totals

Total revenue
$956,651,180
Total expenses
$956,651,180
Contributions and grants received
$0
Grants paid
$871,416
Program service revenue
$955,133,468
Investment income
$1,517,712
Other revenue
$0
Total assets, end of year
$2,189,288,268
Total liabilities, end of year
$1,734,169,456
Net assets or fund balances, end of year
$455,118,812
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 $855,487,499 · related or exempt $855,487,499

  • 2b · Program service revenue: REVENUE FROM NON MEMBE

    total $99,395,949 · related or exempt $99,395,949

  • 2c · Program service revenue: PROGRAM RELATED INVEST

    total $250,020 · related or exempt $250,020

  • 3 · Investment income

    total $1,409,375 · excluded $1,409,375

  • 7a · Gross sales of assets other than inventory

    other assets $108,337

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

    other assets $0

  • 7c · Gain or loss

    other assets $108,337

  • 7d · Net gain or loss

    total $108,337 · related or exempt $108,337

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $871,416

  • 4 · Benefits paid to or for members

    total $20,000,000

  • 5 · Compensation of officers, directors and key employees

    total $5,451,722

  • 7 · Other salaries and wages

    total $40,102,680

  • 8 · Pension plan contributions

    total $9,109,720

  • 9 · Other employee benefits

    total $6,438,002

  • 10 · Payroll taxes

    total $4,306,422

  • 11b · Fees: legal

    total $840,942

  • 11c · Fees: accounting

    total $404,904

  • 11f · Fees: investment management

    total $447,902

  • 11g · Fees: other

    total $2,692,079

  • 12 · Advertising and promotion

    total $518,415

  • 13 · Office expenses

    total $3,515,168

  • 14 · Information technology

    total $801,202

  • 17 · Travel

    total $874,141

  • 20 · Interest

    total $31,007,581

  • 22 · Depreciation, depletion and amortization

    total $83,306,258

  • 23 · Insurance

    total $3,907,572

  • 24a · Other expenses: PURCH. POWER FOR RESALE

    total $381,862,460

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

    total $224,006,777

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

    total $65,344,497

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

    total $60,893,138

  • 24e · All other expenses

    total $9,948,182

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $8,052,208 · end of year $23,197,164

  • 2 · Savings and temporary cash investments

    beginning of year $114,929,255 · end of year $53,163,624

  • 4 · Accounts receivable

    beginning of year $64,465,467 · end of year $90,804,908

  • 8 · Inventories for sale or use

    beginning of year $46,789,034 · end of year $56,229,435

  • 9 · Prepaid expenses and deferred charges

    beginning of year $170,504,129 · end of year $196,886,661

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

    $2,782,147,446

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

    $1,133,530,992

  • 10c · Land, buildings and equipment, net

    beginning of year $1,546,735,203 · end of year $1,648,616,454

  • 13 · Investments: program-related

    beginning of year $133,270,002 · end of year $119,749,054

  • 15 · Other assets

    beginning of year $289,185 · end of year $640,968

  • 17 · Accounts payable and accrued expenses

    beginning of year $181,286,593 · end of year $132,158,800

  • 23 · Secured mortgages and notes payable

    beginning of year $1,116,764,386 · end of year $1,164,001,641

  • 24 · Unsecured notes and loans payable

    beginning of year $20,205,199 · end of year $180,547,215

  • 25 · Other liabilities

    beginning of year $321,659,493 · end of year $257,461,800

  • 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 $445,118,812 · end of year $455,118,812

Mission and programs · 2022

Mission

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

  • PROVIDE AFFORDABLE AND RELIABLE ELECTRIC ENERGY TO MEMBER COOPERATIVES. THE 11 MEMBER COOPERATIVES PROVIDE SERVICE TO APPROXIMATELY 448,535 METERS IN MISSISSIPPI. COOPERATIVE ENERGY AND THE 11 MEMBER SYSTEMS ARE CONSUMER-OWNED, NON-PROFIT BUSINESSES. DURING 2022, COOPERATIVE ENERGY PROVIDED MEMBER SYSTEMS WITH 10,368,614 MWH OF ENERGY.

As filed on the 2022 return.

Listed in Part VII

  • Ronald G Barnes

    DIRECTOR

    Total calculated
    $32,873
    From this org
    $32,873
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.19

  • Kevin Bonds

    DIRECTOR

    Total calculated
    $31,700
    From this org
    $31,700
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.81

  • Joel Cunningham

    DIRECTOR

    Total calculated
    $33,443
    From this org
    $33,443
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.15

  • Howard Davis

    DIRECTOR

    Total calculated
    $31,134
    From this org
    $31,134
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.76

  • Richard Dossett

    DIRECTOR

    Total calculated
    $33,023
    From this org
    $33,023
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.13

  • Teri Eaton

    DIRECTOR (BEG. 06/22)

    Total calculated
    $16,310
    From this org
    $16,310
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.02

  • Harry Howarth

    DIRECTOR

    Total calculated
    $33,590
    From this org
    $33,590
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.34

  • Brian Hughey

    DIRECTOR

    Total calculated
    $34,400
    From this org
    $34,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.08

  • Keith Hurt

    DIRECTOR

    Total calculated
    $34,500
    From this org
    $34,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.66

  • Michael Neely

    DIRECTOR

    Total calculated
    $30,000
    From this org
    $30,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.6

  • David O'Bryan

    DIRECTOR

    Total calculated
    $35,400
    From this org
    $35,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.75

  • Timothy Perkins

    DIRECTOR

    Total calculated
    $32,400
    From this org
    $32,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.21

  • Leslie Peters

    DIRECTOR (THRU 06/22)

    Total calculated
    $15,245
    From this org
    $15,245
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.54

  • Chris Rhodes

    DIRECTOR

    Total calculated
    $33,200
    From this org
    $33,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.89

  • Cindy Shipp

    DIRECTOR (THRU 06/22)

    Total calculated
    $15,461
    From this org
    $15,461
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.67

  • Hugh Gene Smith

    DIRECTOR

    Total calculated
    $33,159
    From this org
    $33,159
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.21

  • Randy Smith

    DIRECTOR

    Total calculated
    $32,000
    From this org
    $32,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.63

  • Robert Smith

    DIRECTOR

    Total calculated
    $32,496
    From this org
    $32,496
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.64

  • Scott Smith

    DIRECTOR

    Total calculated
    $31,398
    From this org
    $31,398
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.8

  • William Darrell Smith

    DIRECTOR

    Total calculated
    $37,200
    From this org
    $37,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    9.9

  • Bryan Thomas

    DIRECTOR (BEG. 06/22)

    Total calculated
    $16,759
    From this org
    $16,759
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.48

  • Louis Thompson

    DIRECTOR

    Total calculated
    $38,495
    From this org
    $38,495
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.46

  • Richard Thoms

    DIRECTOR

    Total calculated
    $34,796
    From this org
    $34,796
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.53

  • Mike Tyner

    DIRECTOR

    Total calculated
    $34,370
    From this org
    $34,370
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.83

  • Matthew Ware

    DIRECTOR

    Total calculated
    $30,400
    From this org
    $30,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Randy Woolley

    DIRECTOR

    Total calculated
    $32,193
    From this org
    $32,193
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.42

  • Jeff Bowman

    PRESIDENT/CEO

    Total calculated
    $1,056,601
    From this org
    $792,545
    From related orgs
    $0
    Other
    $264,056
    Hours/week
    54

    Schedule J breakdown matched by us

    Base
    $782,362
    Bonus
    $7,500
    Other
    $2,683
    Deferred
    $236,617
    Nontaxable benefits
    $27,439
    Filer's total
    $1,056,601

  • Christa Bishop

    SR VICE PRESIDENT/CCO

    Total calculated
    $449,927
    From this org
    $306,131
    From related orgs
    $0
    Other
    $143,796
    Hours/week
    48

    Schedule J breakdown matched by us

    Base
    $292,970
    Bonus
    $11,169
    Other
    $1,992
    Deferred
    $117,131
    Nontaxable benefits
    $26,665
    Filer's total
    $449,927

  • Gary Hutson

    SR VICE PRESIDENT/COO

    Total calculated
    $433,596
    From this org
    $300,652
    From related orgs
    $0
    Other
    $132,944
    Hours/week
    48

    Schedule J breakdown matched by us

    Base
    $285,670
    Bonus
    $11,002
    Other
    $3,980
    Deferred
    $103,067
    Nontaxable benefits
    $29,877
    Filer's total
    $433,596

  • Steve McElhaney

    SR VICE PRESIDENT/COMPLIAN

    Total calculated
    $376,704
    From this org
    $264,644
    From related orgs
    $0
    Other
    $112,060
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $253,467
    Bonus
    $8,216
    Other
    $2,961
    Deferred
    $83,600
    Nontaxable benefits
    $28,460
    Filer's total
    $376,704

  • Kevin Grace

    SR VICE PRESIDENT/CFO

    Total calculated
    $307,668
    From this org
    $226,784
    From related orgs
    $0
    Other
    $80,884
    Hours/week
    44

    Schedule J breakdown matched by us

    Base
    $216,507
    Bonus
    $7,598
    Other
    $2,679
    Deferred
    $52,910
    Nontaxable benefits
    $27,974
    Filer's total
    $307,668

  • Brad Wolfe

    SR VICE PRESIDENT/POWER DEL

    Total calculated
    $411,174
    From this org
    $322,736
    From related orgs
    $0
    Other
    $88,438
    Hours/week
    42

    Schedule J breakdown matched by us

    Base
    $307,852
    Bonus
    $9,899
    Other
    $4,985
    Deferred
    $59,300
    Nontaxable benefits
    $29,138
    Filer's total
    $411,174

  • Mark Smith

    SR VICE PRESIDENT POWER GE

    Total calculated
    $517,818
    From this org
    $309,035
    From related orgs
    $0
    Other
    $208,783
    Hours/week
    48

    Schedule J breakdown matched by us

    Base
    $293,995
    Bonus
    $11,168
    Other
    $3,872
    Deferred
    $182,354
    Nontaxable benefits
    $26,429
    Filer's total
    $517,818

  • Don Hinton

    VICE PRESIDENT GENERAL COU

    Total calculated
    $362,372
    From this org
    $264,604
    From related orgs
    $0
    Other
    $97,768
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $247,960
    Bonus
    $8,342
    Other
    $8,302
    Deferred
    $70,219
    Nontaxable benefits
    $27,549
    Filer's total
    $362,372

  • Brandon Sanders

    PLANT SUPERINTENDENT

    Total calculated
    $279,521
    From this org
    $200,505
    From related orgs
    $0
    Other
    $79,016
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $184,390
    Bonus
    $7,011
    Other
    $9,104
    Deferred
    $51,972
    Nontaxable benefits
    $27,044
    Filer's total
    $279,521

  • Mark Dodd

    VP INFORMATION SYSTEMS

    Total calculated
    $319,799
    From this org
    $198,187
    From related orgs
    $0
    Other
    $121,612
    Hours/week
    42

    Schedule J breakdown matched by us

    Base
    $180,165
    Bonus
    $6,839
    Other
    $11,183
    Deferred
    $95,220
    Nontaxable benefits
    $26,392
    Filer's total
    $319,799

  • Tom Hall

    SR VICE PRESIDENT/CFO

    Total calculated
    $216,252
    From this org
    $216,252
    From related orgs
    $0
    Other
    $0
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $36,030
    Bonus
    $0
    Other
    $180,222
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $216,252

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
  • 4a · Severance or change-of-control payment

Answered no

  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement

The filer's explanations (Part III)

PART I, LINE 4A
TOM HALL, SR VP/CFO RECEIVED $179,722 IN SEVERANCE PAY IN 2022 AND IS INCLUDED IN AMOUNTS REPORTED IN PART II, COLUMN B(III) BASE COMPENSATION. TERMINATION DATE 12/27/2021.

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

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 $1,528,283 · share of assets $106,722,000

    Directly controlled by COOPERATIVE ENERGY

Provenance

Return type
form_990
Tax year
2022
Filed
6 November 2023
IRS schema version
2022v5.0
Source object
202313179349310176

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