2022-09-16T09:58:46-04:00 2021-12-31 581094351 MCNAIR MCLEMORE MIDDLEBROOKS & CO LLC POST OFFICE BOX ONE MACON GA 312020001 990 2021-01-01 580198155 COBB ELECTRIC MEMBERSHIP CORP COBB 7704292100 PO BOX 369 MARIETTA GA 300610369 BRETT STOVERN CFO 6783553005 2022-09-15 true BRETT STOVERN XXX-XX-XXXX WILLIAM R ROUNTREE P01231836 4787466277 2022-09-16 2021 2022-09-23 18:48:47Z ATTN BRETT STOVERN KEVAN ESPY 1000 EMC PARKWAY MARIETTA GA 30060 448648839 false X HTTPS://WWW.COBBEMC.COM X 1938 GA OUR MISSION: RELIABLE, SAFE ELECTRICITY, RATE COMPETITIVE, ROBUST GOVERNANCE, RELEVANT SERVICES, RECOGNIZED EMPLOYER 9 9 430 16000 15000 0 438966601 447194304 1473180 1337413 98151 117122 440537932 448648839 0 11370466 6230468 2083113 1744265 0 0 419332065 429459600 432785644 437434333 7752288 11214506 1093002170 1101529853 647037646 533885012 445964524 567644841 RELIABLE, SAFE ELECTRICITY, RATE COMPETITIVE, ROBUST GOVERNANCE, RELEVANT SERVICES, RECOGNIZED EMPLOYER false false N/A false false false false false false false false false true false true true true false false true false false false false false false false false false false false true false false false false false false false false false false true true true true false true 168 0 true 430 true true true false false false false 430571808 36958159 false false false X 9 9 false false false false true true true true true false false true true true true true true true true false GA X X BRETT STOVERN CFO 7704292100 1000 EMC PARKWAY MARIETTA GA 30060 X DAVID V TENNANT CHAIRMAN 12.00 5.00 X X 45546 9047 0 RUDY R UNDERWOOD VICE CHAIRMA 7.00 5.00 X X 35027 1800 0 KELLY P BODNER SECRETARY/TR 7.00 X X 43657 0 0 WILLIAM C SHARP III DIRECTOR 10.00 5.00 X 47839 9667 0 ERIC BROADWELL DIRECTOR 7.00 X 51855 0 0 DAVID MCCLELLAN DIRECTOR 7.00 X 36474 0 0 EDWARD CROWELL DIRECTOR 10.00 5.00 X 57154 9040 0 BRYAN BOYD DIRECTOR 10.00 5.00 X 66327 11690 0 CHARLES M SWANSON DIRECTOR 7.00 X 52753 0 0 KEVAN ESPY PRESIDENT & 50.00 X 511819 0 236522 BRETT STOVERN CFO 50.00 X 546954 0 156024 TIM SOSEBEE SR VP-BUSINE 50.00 X 340658 0 205576 TIMOTHY HARSHBARGER VP HUMAN RES 50.00 X 344320 0 41262 TIM JARRELL VP-POWER SUP 50.00 X 298450 0 144049 JAMES WATTS DIR, CUST. E 40.00 X 304393 0 12126 PETER HEINTZELMAN FORMER CEO 0.00 X 559292 0 0 3342518 41244 795559 189 true true false PIKE ELECTRIC INC 100 PIKE WAY MOUNT AIRY NC 27030 CONTRACTOR 11999674 LEWIS TREE SERVICES INC 300 LUCIUS GORDON DR WEST HENRIETTA NY 145869686 ROW CLEARING 5296652 POWERGRID SERVICES LLC 2350 HWY 31 NW HARTSELLE AL 35640 CONTRACTOR 1827340 J ADAMS ELECTRICAL CONTRACTORS 1240 OLD BELLS FERRY RD MARIETTA GA 30066 CONTRACTOR 1613601 ONE VISION UTILITY SERVICES LLC 1119 GRASSDALE RD NW CARTERSVILLE GA 30121 UTIL. LOC. CONT 1605422 28 ELECTRIC REVENUE 221000 435548909 435548909 PATRONAGE CAPITAL CREDITS 221000 8078794 8078794 POLE AND OTHER ATTACHMENTS 3566601 3566601 447194304 1337413 1337413 75991 16000 75991 16000 91991 16000 75991 OTHER REVENUE 25131 25131 25131 448648839 444990247 16000 3642592 6230468 1184973 559292 19494912 38159946 PURCHASED POWER 305273388 DISTRIBUTION MAINTENANCE 20132097 ADMIN, SELLING & GENERAL 19723137 DISTRIBUTION OPERATIONS 13763653 12912467 437434333 0 0 0 2386286 532250 61032263 60496973 4224897 7098846 3773503 5174171 1480942 2464286 986191275 289295844 686720720 696895431 220699792 226416217 4266500 108417267 102451679 1093002170 1101529853 68420265 52531689 428623645 405646254 10300000 250000 139693736 75457069 647037646 533885012 X 418850 396550 445545674 567248291 445964524 567644841 1093002170 1101529853 X 11214506 110465811 X false true X true false 8095796 8095796 978095479 289295844 688799635 696895431 INVESTMENT IN ASSOC. - OPC 130995647 C INVESTMENT IN ASSOC.- NRUCFC 45973709 C INVESTMENT IN ASSOC. - GTC 38591259 C INVESTMENTS IN ASSOC. - SEWELL CK 5241775 C INVESTMENTS IN ASSOC. - SMARR 2417992 C INVESTMENT IN ASSOC.- GRESCO 1421145 C INVESTMENTS IN ASSOC. - FEDERATED 928673 C INVESTMENT IN ASSOC.- COBANK 403353 C INVESTMENT IN ASSOC.- NISC 296258 C INVESTMENT IN ASSOC.- SEDC 68274 C INVESTMENT IN ASSOC. - NRTC 37906 C INVESTMENTS IN ASSOC. - GSOC 32199 C INVESTMENTS IN ASSOC. - CRC 7667 C INVESTMENTS IN ASSOC. - OTHER 360 C 226416217 INVESTMENTS IN SUBS 98197264 DEFERRED COMPENSATION 2248255 OTHER 2006160 102451679 DEFERRED CREDITS 51104729 CONSUMER DEPOSITS 13867693 ASC-980 DEFERRED REVENUE 10000000 UNAMORTIZED GAIN ON RETIRED DEBT 484647 75457069 448648839 448648839 448648839 431203865 431203865 6230468 6230468 437434333 SCHEDULE D, PAGE 4, PART XII, LINE 4B AMOUNTS ASSIGNED TO MEMBER CAPITAL ACCOUNTS 6,230,468 X true true X X X X X true true false KEVAN ESPY PRESIDENT & CEO 433300 55350 23169 226764 9758 748341 3196 BRETT STOVERN CFO 378555 111280 57119 131773 24251 702978 11181 TIM SOSEBEE SR VP-BUSINESS OPS 270353 52640 17665 181325 24251 546234 2156 TIMOTHY HARSHBARGER VP HUMAN RESOURCES 227044 43619 73657 23227 18035 385582 TIM JARRELL VP-POWER SUPPLY 215764 42495 40191 119798 24251 442499 JAMES WATTS DIR, CUST. EXP.-FMR 90649 18103 195641 12126 316519 PETER HEINTZELMAN FORMER CEO 24842 534450 559292 SCHEDULE J, PAGE 1, PART I, LINE 1A MARIETTA COUNTRY CLUB: KEVAN ESPY (PRESIDENT & CEO) - 15,000 (INTIATION FEE), 2,288 (DUES) SCHEDULE J, PAGE 1, PART I, LINE 4 KEVAN ESPY 0 3,196 0 BRETT STOVERN 0 11,181 0 TIM SOSEBEE 0 2,156 0 TIMOTHY HARSHBARGER 0 61,642 0 JAMES WATTS 142,245 0 0 PETER HEINTZELMAN 559,292 0 0 SCHEDULE J, PART III COBB EMC HAS A NONQUALIFIED DEFERRED COMPENSATION PLAN UNDER IRC SECTION 457(F) THAT PROVIDES BENEFITS FOR A SELECT GROUP OF KEY MANAGEMENT OR HIGHLY COMPENSATED EMPLOYEES. THE PLAN WAS ADOPTED TO RETAIN AND REWARD LONG SERVICE PERSONNEL AND TO ATTRACT AND RETAIN MANAGEMENT EMPLOYEES. THE NONQUALIFIED AMOUNTS ABOVE WERE PAID OUT IN 2021 AND ARE INCLUDED IN EACH EMPLOYEE'S W-2 COMPENSATION. THE FOLLOWING AMOUNTS ARE THE 2021 EMPLOYER CONTRIBUTIONS TO THE NONQUALIFIED PLAN THAT ARE NOT INCLUDED IN EACH EMPLOYEES' W-2, BUT ARE INCLUDED SCHEDULE J, COLUMN C: KEVAN ESPY - 13,044 BRETT STOVERN - 103,273 TIM SOSEBEE - 8,444 TIM JARRELL - 6,845 FORM 990 THE CORPORATION'S RECORDS ARE MAINTAINED IN ACCORDANCE WITH THE UNIFORM SYSTEM OF ACCOUNTS PRESCRIBED BY THE FEDERAL ENERGY REGULATORY COMMISSION (18CFR.PART 101). THOSE PRACTICES UTILIZE ALLOCATION OF CERTAIN EXPENSES BASED ON LABOR CHARGES OR OTHER ALLOCATION BASES. AS A RESULT, IT WOULD REQUIRE SIGNIFICANT EFFORT TO BREAK OUT EXPENSES IN THE FUNCTIONAL CATEGORIES PROVIDED FOR ON THE STATEMENT OF FUNCTIONAL EXPENSES. MANAGEMENT HAS OPTED TO CLASSIFY ITS EXPENSES ON THE STATEMENT OF FUNCTIONAL EXPENSES IN THE SAME MANNER IT REPORTS ITS FINANCIAL RESULTS TO LENDERS AND ITS MEMBER-OWNERS. FORM 990, PAGE 6, PART VI, LINE 6 THE CORPORATION HAS MEMBERS AS PROVIDED FOR IN ITS BYLAWS WHICH ARE INCLUDED AS A PART OF THIS RETURN. FORM 990, PAGE 6, PART VI, LINE 7A THE CORPORATION'S MEMBERS DEMOCRATICALLY ELECT MEMBERS OF THE GOVERNING BODY AS PROVIDED FOR IN THE CORPORATION'S BYLAWS WHICH ARE INCLUDED AS PART OF THIS RETURN. FORM 990, PAGE 6, PART VI, LINE 7B CERTAIN DECISIONS OF THE GOVERNING BODY ARE SUBJECT TO APPROVAL BY MEMBERS AS PROVIDED FOR IN THE CORPORATION'S BYLAWS WHICH ARE INCLUDED AS A PART OF THIS RETURN. FORM 990, PAGE 6, PART VI, LINE 11B FORM 990 IS REVIEWED BY THE FULL BOARD OF DIRECTORS PRIOR TO SUBMITTAL. FORM 990, PAGE 6, PART VI, LINE 12C THE CORPORATION REGULARY AND CONSISTENTLY MONITORS AND ENFORCES COMPLIANCE WITH THE FOLLOWING POLICIES, WHICH ARE INCLUDED AS PART OF THIS RETURN: POLICY 602 - CONFLICT OF INTEREST POLICY 901 - EMPLOYEE CODE OF CONDUCT POLICY 911 - EMPLOYEES' OUTSIDE ACTIVITIES FORM 990, PAGE 6, PART VI, LINE 15A AS OUTLINED IN BOARD POLICY 608, WHICH IS ATTACHED TO THIS RETURN, THE ANNUAL CEO REVIEW IS CONDUCTED BY THE BOARD'S HUMAN RESOURCES COMMITTEE, WHICH MAKES A COMPENSATION RECOMMENDATION TO THE FULL BOARD FOR THEIR APPROVAL. FORM 990, PAGE 6, PART VI, LINE 15B KEY EMPLOYEE COMPENSATION IS REVIEWED AND APPROVED AS PROVIDED FOR IN BOARD POLICY 908, A COPY OF WHICH IS INCLUDED AS A PART OF THIS RETURN. FORM 990, PAGE 6, PART VI, LINE 19 THE CORPORATION MAKES ITS BYLAWS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC AS PART OF ITS FORM 990. THE FORM 990 IS AVAILABLE UPON REQUEST AS REFLECTED IN PART VI SECTION C LINE 18. IN ADDITION, THE CORPORATION'S FORM 990 IS AVAILABLE IN THE PUBLIC DOMAIN THROUGH WEBSITES SUCH AS GUIDESTAR (WWW.GUIDESTAR.ORG). FORM 990, PART VII ON NOVEMBER 20, 2020, PETER HEINTZELMAN RESIGNED AS CEO OF COBB EMC. THE BOARD OF DIRECTORS APPOINTED KEVAN ESPY AS INTERIM CEO IN CONJUNCTION WITH MR. HEINTZELMAN'S RESIGNATION. AFTER CONDUCTING A FORMAL SEARCH FOR THE CEO POSITION, THE BOARD OF DIRECTORS APPOINTED MR. ESPY FULL-TIME CEO EFFECTIVE JUNE 14, 2021. MR. HEINTZELMAN RECEIVED A SEVERANCE PACKAGE WHICH WAS PAID OUT IN 2020 AND 2021 BASED ON THE SEVERANCE AGREEMENT. FORM 990, PART XI, LINE 9 WHOLLY-OWNED SUBSIDIARY EARNINGS 65,399,685 BENEFITS PAID TO MEMBERS 6,230,468 CHANGE IN DONATED CAPITAL 3,715 OCI 53,783,379 OTHER 60,744 CHANGE IN MEMBERSHIP FEES -22,300 RETIREMENT OF PATRONAGE CAPITAL -14,989,880 TOTAL 110,465,811 FIBER SOUTH LLC FIBER SOUTH LLC 1000 EMC PARKWAY 1000 EMC PARKWAY MARIETTA GA 30061 845178162 GA 22529 COBB EMC COBB EMC GAS SOUTH LLC PO BOX 4298 ATLANTA GA 30302 203608242 NAT GAS MA GA N/A true COBB ENERGY MANAGEMENT CORPORATION 1000 EMC PARKWAY MARIETTA GA 30060 582345061 HOLDING CO GA N/A true false false true true false true false false false false false true true false false true true false true GAS SOUTH LLC L 1179661 COST GAS SOUTH LLC Q 249736 COST GAS SOUTH LLC D 814997 FMV GAS SOUTH LLC F 28080000 COST GAS SOUTH LLC M 482473 FMV GAS SOUTH LLC C 44200000 COST GAS SOUTH LLC P 2244112 COST FIBER SOUTH LLC S 5300013 COST COBB ENERGY C 569 COST SCHEDULE R RELATED ORGANIZATIONS: COBB ENERGY MANAGEMENT CORPORATION (COBB ENERGY): COBB ENERGY WAS INCORPORATED IN THE STATE OF GEORGIA ON SEPTEMBER 3, 1997 TO PROVIDE VARIOUS SERVICES TO COBB ELECTRIC MEMBERSHIP CORPORATION (COBB EMC), ITS SUBSIDIARIES AND OTHER THIRD PARTIES. AS OF DECEMBER 31, 2021 COBB ENERGY MANAGEMENT CORPORATION HAS NO OPERATING ACTIVITIES. GAS SOUTH, LLC (GAS SOUTH) AND SUBSIDIARIES: GAS SOUTH, LLC AND SUBSIDIARIES (GAS SOUTH) IS A NATURAL GAS MARKETER THAT PRINCIPALLY SERVES RESIDENTIAL, BUSINESS, GOVERNMENTAL, AND INSTITUTIONAL CUSTOMERS PRIMARILY IN THE SOUTHEASTERN UNITED STATES IN AREAS WHERE CUSTOMERS HAVE THE ABILITY TO CHOOSE THEIR ENERGY PROVIDER. THE COMPANY ALSO SERVES LARGE CUSTOMERS THAT ARE CONNECTED DIRECTLY TO INTERSTATE PIPELINES AND WHOLESALES NATURAL GAS TO OTHER SERVICE PROVIDERS. GAS SOUTH'S MANAGEMENT COMMITTEE IS MADE UP OF COBB EMC EXECUTIVE MANAGEMENT AND FOUR COBB EMC BOARD MEMBERS. COBB EMC BOARD MEMBERS SERVING ON THE MANAGEMENT COMMITTEE ARE COMPENSATED DIRECTLY BY GAS SOUTH. THESE AMOUNTS ARE REPORTED ON COBB EMC'S FORM 990 AS "REPORTABLE COMPENSATION FROM RELATED ORGANIZATIONS". FIBER SOUTH BROADBAND, LLC: FIBER SOUTH BROADBAND, LLC IS A WHOLLY OWNED SUBSIDIARY OF COBB EMC. FIBER SOUTH BROADBAND, LLC (FIBER SOUTH) WAS A PROVIDER OF RETAIL BROADBAND SERVICES. FIBER SOUTH EXITED THE BROADBAND BUSINESS IN 2021. NOTE: AMOUNTS DETAILED IN SCHEDULE R, PART V REPRESENT RETURN OF CAPITAL CONTRIBUTIONS TO COBB EMC.