2019-11-14T10:42:48-06:00 2018-12-31 631035228 Jackson Thornton & Co PC PO Box 96 Montgomery AL 361010096 990 2018-01-01 640243969 Southern Pine Electric Cooperative SOUT 6017856511 PO Box 60 Taylorsville MS 391680060 Jason S Siegfried President and CEO 6017856511 2019-11-12 1 Patrick Cooper P00856177 3348347660 2019-11-12 142.154.130.164 2019-11-12 15:29:46 CS P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 6C9B1A35775087DBDB8A6D25ECA509C7F6C27838 2018 2020-04-17 16:48:07Z Southern Pine Electric Jason S Siegfried PO Box 60 Taylorsville MS 391680060 209245075 0 X www.southernpine.coop X 1938 MS The mission of Southern Pine Electric's Board of Directors and employees is to enhance the quality of life of our members and community by safely providing reliable electric energy at an affordable price. 13 13 266 0 0 0 0 0 196601659 206735970 599587 1157730 2373719 1351375 199574965 209245075 0 0 9260058 11107586 1487541 1690744 0 0 0 188827366 196446745 199574965 209245075 0 0 473500504 475847972 202670228 197326592 270830276 278521380 The mission of Southern Pine Electric's Board of Directors and employees is to enhance the quality of life of our members and community by safely providing reliable electric energy at an affordable price. 0 0 Southern Pine Electric Cooperative is an electric distribution cooperative that provided service to approximately 67,791 meters in south central Mississippi. Utilizing its 10,449 miles of electric distribution lines, Southern Pine Electric sold 1,928,433,700 kilowatt hours of electric energy to its members. 0 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 1 151 0 1 266 1 0 0 0 0 0 0 0 200527847 7407144 0 0 0 X 13 13 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X Ann Susan Hamm 6017856511 13491 Hwy 28W Taylorsville MS 39168 Billy M Berry Chariman/Director 26.00 X X 49688 0 0 Mims Berry Director 20.00 X 39174 0 0 Jeff Bowman Director 16.00 X 29846 0 0 Charles Lowe Director 21.00 X 40065 0 0 Marcus Martin Vice-Chairman/Director 20.00 X X 38540 0 0 Haskins Montgomery Director 20.00 X 38910 0 0 Billy Parish Director 19.00 X 36944 0 0 Greg Sullivan Director 20.00 X 37861 0 0 David Tadlock Director 19.00 X 36494 0 0 Richard Thoms Secretary/Director 21.00 X X 40850 0 0 Charles Waldrup Director 18.00 X 35467 0 0 Fountaine McNair Director 11.00 X 21777 0 0 Jeffery Simms Director 1.00 X 2080 0 0 Joseph L Craft Director 14.00 X 27043 0 0 Donald L Jordan Executive VP 30.00 X 333226 0 85835 Jason S Siegfried President / CEO 65.00 X 271455 0 79720 Ann S Hamm VP of Finance 65.00 X 144801 0 88731 Jim Jordan VP of Engineering 50.00 X 150045 0 62192 John Joseph Hardin Staff Assistant 50.00 X 135351 0 54611 Robert Chad Lewis VP of Operations 50.00 X 148446 0 39135 Ollen D McAlpin VP of Administration 46.00 X 121696 0 16640 Jimmie Baggett VP of Member Services 40.00 X 121440 0 21628 Jennifer Collins Director of Executive Services 40.00 X 127909 0 41664 2029108 0 490156 23 0 1 0 Larry J Sumrall Contractors Inc PO Box 4190 Laurel MS 39441 Building Construction 10947856 WA Kendall and Company Inc PO Box 831 Lawrenceville GA 30046 Right of Way Maintenance 1145632 Runnels Contracting LLC PO Box 17856 Hattiesburg MS 39404 Right of Way Maintenance 927812 MDR Construction Co Inc 621 East Baylis Chapel Rd Columbia MS 39429 Work Plan Construction 876632 Bush Construction PO Box 8337 Laurel MS 39441 Right of Way Maintenance 763788 18 Sale of Electricity 221000 200527847 200527847 Capital Credits 221000 6208123 6208123 206735970 497891 497891 1310084 0 1310084 1310084 1310084 659839 0 659839 659839 659839 Miscellaneous Revenue 221000 41291 41291 41291 209245075 206777261 0 2467814 X 11107586 1690744 5899198 12110196 Cost of Power 146287519 Dist Exp - Maintenance 11778410 Admin & General Expense 9448631 Consumer Accounts Expen 5506018 5416773 209245075 14108066 3933186 10759000 3903000 23536362 24160250 2517843 2065510 6846325 6877535 5907764 3843589 472668417 132729987 323019325 339938430 86805819 91126472 473500504 475847972 25271030 24282580 170807183 166159632 6592015 6884380 202670228 197326592 X 343357 344947 728352 728580 269758567 277447853 270830276 278521380 473500504 475847972 X 0 7691104 X 0 1 X 1 0 1390968 1390968 471277449 132729987 338547462 339938430 Patronage Capital from Associated Cooperatives 88707507 C Capital Term Certificates 2416965 C Membership Fee - CFC 1000 C Cobank Stock 1000 C 91126472 Customer deposits 6884380 6884380 X 209070709 0 209070709 174366 174366 209245075 197963123 0 197963123 11281952 11281952 209245075 Part X, Line 2: Income taxes - The Cooperative is exempt from income taxes under Internal Revenue Code Section 501(c)(12). Management has evaluated the Cooperative's tax positions and concluded that the Cooperative has taken no uncertain tax positions that require adjustment to the financial statements. Part XI, Line 4b - Other Adjustments: Reclassification of revenue/expense items from F/S 174,366. Part XII, Line 4b - Other Adjustments: Margins Assigned to Members 11,107,586. Reclassification of revenue/expense items from F/S 174,366. X X X X 0 0 0 Donald L Jordan Executive VP 328962 0 0 0 4264 0 79560 0 6275 0 419061 0 0 0 Jason S Siegfried President / CEO 265835 0 0 0 5620 0 67844 0 11876 0 351175 0 0 0 Ann S Hamm VP of Finance 143899 0 0 0 902 0 82372 0 6359 0 233532 0 0 0 Jim Jordan VP of Engineering 144100 0 0 0 5945 0 50316 0 11876 0 212237 0 0 0 John Joseph Hardin Staff Assistant 134800 0 0 0 551 0 48252 0 6359 0 189962 0 0 0 Robert Chad Lewis VP of Operations 142401 0 0 0 6045 0 32776 0 6359 0 187581 0 0 0 Jennifer Collins Director of Executive Services 127496 0 0 0 413 0 35337 0 6327 0 169573 0 0 0 Form 990, Part VI, Section A, line 6 Southern Pine Electric is a member owned electric cooperative. Form 990, Part VI, Section A, line 7a Each member is entitled to cast one vote in the election of board members. Form 990, Part VI, Section A, line 7b Cooperative members must approve any disposition of assets in an amount greater than ten percent (10%) of the value of the cooperative and any other items described in the bylaws. Form 990, Part VI, Section B, line 11b Southern Pine Electric Cooperative is a not-for-profit membership organization whose members have identical voting rights and are assigned margins in accordance with the organization's bylaws. Form 990, Part VI, Section B, line 11b The VP of Finance reviewed the completed copy of the Form 990. The Form 990 was then presented to and reviewed with the board of directors at a board meeting prior to filing the form with the Internal Revenue Service. Form 990, Part VI, Section B, line 12c The President/CEO reviews the conflict of interest policy with the Board of Directors to insure compliance. This is done annually. Form 990, Part VI, Section B, line 15 The compensation of the CEO is determined annually by the Board of Directors using compensation studies prepared by independent consultants. The CEO determines the compensation of other employees utilizing the same studies as above. Form 990, Part VI, Section C, line 19 Any and all documents, policies, and other records are made available to the public upon request during normal business hours at the office of the cooperative. Form 990, Part IX, Line 4 The instructions to the 2017 Form 990 indicate that organizations exempt under Section 501 (c)(12) should report "patronage dividends paid" to their members in Part IX, Line 4 of the Form 990. The Cooperative has interpreted the words "patronage dividends paid" in the instructions to mean margins that are assigned or assignable to the members. The Cooperative assigns the net margins to its members each year. Therefore, the amount listed in Part IX, Line 4 represents the net margins assignable to members for the calendar year ended December 31, 2018. Form 990, Part XI, line 9: Changes in Memberships 1,590. Retirement of Capital Credits -3,589,493. Gain on Capital Credits 171,421. Margins Assigned/Assignable to Members 11,107,586.