2015-11-12T07:51:17-06:00 2014-12-31 581094351 MCNAIR MCLEMORE MIDDLEBROOKS & CO LLC POST OFFICE BOX ONE MACON GA 312020001 990 2014-01-01 580198155 COBB ELECTRIC MEMBERSHIP CORP COBB 7704292100 1000 EMC PARKWAY MARIETTA GA 30060 WILLIE T NELSON PRESIDENT & CEO 7704292100 2015-11-12 true WILLIAM R ROUNTREE P01231836 4787466277 2015-11-12 2014 2016-02-25 16:41:14Z WILLIE T NELSON 1000 EMC PARKWAY MARIETTA GA 30060 424513372 false X HTTPS://WWW.COBBEMC.COM X 1938 GA COBB EMC COMMITS TO SAFELY DELIVERING RELIABLE, COMPETITIVELY PRICED ELECTRICITY WHILE BEING ACCOUNTABLE TO OUR MEMBER-OWNERS THROUGH SOUND GOVERNANCE, MANAGEMENT, OPERATING PRACTICES AND IMPROVING QUALITY OF LIFE IN OUR LOCAL COMMUNITIES. 9 9 581 13387 12387 0 413596339 422363713 2254912 1683831 419827 465828 416271078 424513372 0 0 1030689 1725095 0 0 423297283 416437726 424327972 418162821 -8056894 6350551 914245365 871014666 522272728 492443608 391972637 378571058 X COBB EMC COMMITS TO SAFELY DELIVERING RELIABLE, COMPETITIVELY PRICED ELECTRICITY WHILE BEING ACCOUNTABLE TO OUR MEMBER-OWNERS THROUGH SOUND GOVERNANCE, MANAGEMENT, OPERATING PRACTICES AND IMPROVING QUALITY OF LIFE IN OUR LOCAL COMMUNITIES. false false COBB EMC COMMITS TO SAFELY DELIVERING RELIABLE, COMPETITIVELY PRICED ELECTRICITY WHILE BEING ACCOUNTABLE TO OUR MEMBER-OWNERS THROUGH SOUND GOVERNANCE, MANAGEMENT, OPERATING PRACTICES AND IMPROVING QUALITY OF LIFE IN OUR LOCAL COMMUNITIES. false false false false false false false false false true false true false true false false false false false false false false false false false false false false true false false false false false false false false false false false true true true false true 156 0 true 581 true true true false false false false 409878840 18590636 false X 9 9 false false false false true true true true true true false true true true true true true true true false GA X ROBERT D STEELE 7704292100 1000 EMC PARKWAY MARIETTA GA 30060 BRYAN BOYD CHAIRMAN 25.00 X X 69065 0 0 WILLIAM C SHARP III VICE CHAIRMA 15.00 X X 50492 0 0 DAVID MCCLELLAN SECRETARY/TR 15.00 X X 49052 0 0 KELLY P BODNER DIRECTOR 15.00 X 38481 0 0 ERIC BROADWELL DIRECTOR 15.00 X 54565 0 0 EDWARD CROWELL DIRECTOR 15.00 X 54565 0 0 CHARLES M SWANSON DIRECTOR 15.00 X 41481 0 0 DAVID V TENNANT DIRECTOR 15.00 X 65052 0 0 RUDY R UNDERWOOD DIRECTOR 15.00 X 38398 0 0 WILLIE T NELSON PRESIDENT & 58.00 2.00 X 513381 0 718535 DAVID B JOHNSON COO 58.00 2.00 X 349546 0 140456 ROBERT D STEELE CFO 58.00 2.00 X 345176 0 131423 KENNETH S BEAVERS SR VP-ELEC O 40.00 X 365245 0 36917 SAMUEL W KELLY SR VP-COMM A 40.00 X 487712 0 20611 DEBORAH L COOPER MATERIALS AC 40.00 X 262945 0 7051 FRANCIS S MYERS FORMER HCE X 492695 0 0 WILLIAM J GRESHAM FORMER DIREC X 16014 0 0 LARRY CHADWICK FORMER DIREC X 16014 0 0 3309879 1054993 118 true true false FIVE POINT PARTNERS LLC 200 GALLERIA PARKWAY SUI ATLANTA GA 30339 IT CONSULTANT 2728739 ERNST YOUNG US LLP 200 PLAZA DRIVE SECAUCUS NJ 07094 IT CONSULTANT 2472381 CLIFTONLARSONALLEN LLP 20 E THOMAS ROAD PHOENIX AZ 85012 FORENSIC AUDIT 982555 DST OUTPUT EAST LLC 333 WEST 11TH ST KANSAS CITY MO 64105 BILL PROCESSING 855886 FELLOWS LABRIOLA LLP 225 PEACHTREE ST NE ATLANTA GA 30303 FORENSIC AUDIT 423799 12 ELECTRIC REVENUE 221000 409878839 409878839 PATRONAGE CAPITAL 221000 9629990 9629990 POLE RENTAL INCOME 2854884 2854884 422363713 1683831 1683831 452441 13387 452441 13387 465828 13387 452441 424513372 419508829 13387 4991156 1693067 32028 24669657 30262072 PURCHASED POWER 279496480 ADMINISTRATIVE & GENERAL 28487017 DISTRIBUTION MAINTENANCE 22567957 CONSUMER ACCOUNTS 19806893 11147650 418162821 0 0 0 15065775 3190210 1588317 1296277 41163363 32745283 4570903 4570903 2123422 1963246 2126674 5566089 843919715 254568792 587993947 589350923 271760 180492217 186977284 8718500 8082500 70130487 37271951 914245365 871014666 44317848 42194103 433020046 425121852 44934834 25127653 522272728 492443608 X 549592 545130 391423045 378025928 391972637 378571058 914245365 871014666 6350551 -19752130 X false true X true false 10087825 10087825 833831890 254568792 579263098 589350923 INVESTMENTS IN ASSOCIATED ORGA 150946563 C INVESTMENTS IN CTC'S 33380500 C NRUCFC MEMBER CAPITAL SECURITI 2000000 C U.S. CORPORATE BONDS 650221 C 186977284 CONSUMER DEPOSITS 12809307 ACCRUED PENSION COSTS 8324736 GAIN ON DEBT EXTINGUISHMENT 2772390 VOLUNTARY EARLY RETIREMENT LIABILITY 1191330 OTHER DEFERRED CREDITS 29890 25127653 SCHEDULE D, PAGE 4, PART XIII AUDITED AND REVIEWED FINANCIAL STATEMENTS: COBB EMC'S FISCAL YEAR IS APRIL 30TH. COBB EMC WAS INCLUDED IN CONSOLIDATED FINANCIAL STATEMENTS AT APRIL 30, 2015 AND 2014. IN ADDITION, COBB EMC'S FINANCIAL STATEMENTS ARE REVIEWED, AS PART OF CONSOLIDATED FINANCIAL STATEMENTS, BY AN INDEPENDENT ACCOUNTANT AT THE END OF EACH FISCAL QUARTER. THE INTERIM QUARTERLY REVIEW REPORTS ARE MADE AVAILABLE TO ALL MEMBER-OWNERS ON THE CORPORATION'S WEBSITE. THE AFFOREMENTIONED SERVICES ARE OVERSEEN BY THE CORPORATION'S AUDIT COMMITTEE. X true true X X X true true false WILLIE T NELSON PRESIDENT & CEO 500581 12800 700000 18535 1231916 DAVID B JOHNSON COO 330270 19276 115855 24601 490002 ROBERT D STEELE CFO 326634 18542 106822 24601 476599 KENNETH S BEAVERS SR VP-ELEC OPS 93337 271908 34811 2106 402162 44577 SAMUEL W KELLY SR VP-COMM AFFAIRS 53525 434187 19963 648 508323 160465 DEBORAH L COOPER MATERIALS ACCOUNTING 18863 244082 6727 324 269996 FRANCIS S MYERS FORMER HCE 492695 492695 WILLIAM J GRESHAM FORMER DIRECTOR 16014 16014 LARRY CHADWICK FORMER DIRECTOR 16014 16014 SCHEDULE J, PAGE 1, PART I, LINE 1A SOCIAL CLUB DUES PAID: GEORGIAN CLUB (1) WILLIE T. NELSON (PRESIDENT & CEO) - 1,128 (2) ROBERT D. STEELE (CFO) - 1,128 MARIETTA COUNTRY CLUB (1) WILLIE T. NELSON (PRESIDENT & CEO) - 4,400 COBB EMC REQUIRES SUBSTANTIATION PRIOR TO REIMBURSING OR ALLOWING EXPENSES INCURRED BY ITS DIRECTORS AND CEO AS PROVIDED FOR IN THE FOLLOWING POLICIES, WHICH ARE INCLUDED AS PART OF THIS RETURN: (1) POLICY 612 - DIRECTOR TRAVEL EXPENSE (2) POLICY 617 - CONCURRENT TRAVEL OF BOARD OF DIRECTORS AND SENIOR STAFF SCHEDULE J, PAGE 1, PART I, LINE 4 KENNETH S. BEAVERS 222,846 51,245 0 SAMUEL W. KELLY 190,593 245,859 0 DEBORAH L. COOPER 244,072 0 0 FRANCIS S. MYERS 492,695 0 0 SCHEDULE J, PART III SCHEDULE J, PART II - FORMER DIRECTORS WILLIAM J. GRESHAM AND LARRY CHADWICK RECEIVED REPORTABLE COMPENSATION IN EXCESS OF 10,000 AND ARE REQUIRED TO BE REPORTED ON SCHEDULE J. THE COMPENSATION FOR EACH IS RELATED SOLELY TO HEALTHCARE PREMIUMS PAID BY COBB EMC UNDER A PREVIOUSLY ADOPTED PLAN FOR RETIRED DIRECTORS. THE CURRENT BOARD AMENDED THE PLAN EFFECTIVE MARCH 31, 2015 TO ELIMINATE MEDICAL BENEFITS FOR RETIRED DIRECTORS. THE BOARD TERMINATED RETIREE MEDICAL BENEFITS FOR CURRENT AND FUTURE DIRECTORS IN 2011. SCHEDULE J, PART II - ON JUNE 25, 2013, COBB EMC'S BOARD OF DIRECTORS APPROVED A VOLUNTARY EARLY SEPARATION PACKAGE (VEOP) OFFERING TO COBB EMC EMPLOYEES. OPEN ENROLLMENT BEGAN ON AUGUST 26, 2013 AND CONCLUDED ON SEPTEMBER 6, 2013. AS PART OF THE OFFERING, COBB EMC WORKED WITH THE EMPLOYEES AND ULTIMATELY ACCEPTED THE EXIT DATE ON AN EMPLOYEE-BY-EMPLOYEE BASIS, UP TO A YEAR FROM THE ACCEPTANCE DATE. 123 EMPLOYEES ACCEPTED THE PACKAGE OFFERED BY COBB EMC. SINCE MANY OF THESE PAYMENTS WERE STRUCTURED OVER 2 TO 3 YEARS, SEVERAL EMPLOYEES THAT WOULD NOT NORMALLY BE CLASSIFIED AS "HIGHLY COMPENSATED EMPLOYEES" (HCE) ARE REPORTED AS SUCH ON PART VII AND SCHEDULE J DUE TO THESE SEVERANCE PAYMENTS. SCHEDULE J, PART II, COLUMN F - THE AMOUNTS REPORTED AS DEFERRED IN A PRIOR FORM 990 ARE PRESENTED AS IF THE CORPORATION HAD FILED A 990 FOR ALL YEARS IN WHICH DEFERRED COMPENSATION HAD BEEN ACCRUED UNDER A NONQUALIFIED DEFERRED COMPENSATION PLAN BY THESE EMPLOYEES. THE CORPORATION FILED FORM 1120, AS A NON-EXEMPT RURAL ELECTRIC COOPERATIVE, FROM 2005 THROUGH 2011. FORM 990 - ORGANIZATION'S MISSION COBB EMC COMMITS TO SAFELY DELIVERING RELIABLE, COMPETITIVELY PRICED ELECTRICITY WHILE BEING ACCOUNTABLE TO OUR MEMBER-OWNERS THROUGH SOUND GOVERNANCE, MANAGEMENT, OPERATING PRACTICES AND IMPROVING QUALITY OF LIFE IN OUR LOCAL COMMUNITIES. 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 9 WILLIAM J. GRESHAM 1200 JOHNSON FERRY ROAD MARIETTA, GA 30068 LARRY CHADWICK 935 OLD CHADWICK LANE ROSWELL, GA 30075 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, WHIC 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 CEO COMPENSATION IS REVIEWED AND APPROVED BY THE BOARD OF DIRECTORS BASED ON THE CRITERIA OUTLINED IN BOARD POLICY 903, WHICH IS INCLUDED AS PART OF THIS RETURN. 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. FORM 990, PART XI, LINE 9 OTHER COMPREHENSIVE INCOME 12,931,192 WHOLLY-OWNED SUBSIDIARY EARNINGS 13,843,811 LESS: CHANGE IN MEMBERSHIP FEES 4,462 LESS: CHANGE IN DONATED CAPITAL 44,019 LESS: CAPITAL CREDIT RETIREMENTS 46,478,652 GAS SOUTH LLC PO BOX 4298 ATLANTA GA 30302 NAT GAS MA GA N/A C CORP 15357120 104000000 1.00000 false COBB ENERGY MANAGEMENT CORPORATION 1000 EMC PARKWAY MARIETTA GA 30060 582345061 HOLDING CO GA N/A C CORP -1513309 43000 1.00000 false false false false false false true false false false false false false true false false false true true true GAS SOUTH LLC F 12700000 COST GAS SOUTH LLC Q 5813414 COST COBB ENERGY MANAGEMENT CORPORATION S 5919338 COST SCHEDULE R RELATED ORGANIZATIONS: COBB ENERGY MANAGEMENT CORPORATION (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, 2014 COBB ENERGY MANAGEMENT CORPORATION HAS NO OPERATING ACTIVITIES. GAS SOUTH, LLC (GAS SOUTH) IS A CERTIFIED NATURAL GAS MARKETER IN THE STATE OF GEORGIA. AS SUCH, IT IS ALLOWED TO COMPETE TO SERVE CUSTOMERS WHO TAKE SERVICE ON ATLANTA GAS LIGHT'S (AGL) NATURAL GAS DISTRIBUTION PIPELINES WITHIN THE STATE OF GEORGIA. GAS SOUTH PURCHASES NATURAL GAS FROM WHOLESALE SUPPLIERS FOR DELIVERY TO THE CITYGATE WHERE AGL ASSUMES RESPONSIBILITY AND LIABILITY ASSOCIATED WITH THE DELIVERY OF NATURAL GAS TO GAS SOUTH'S CONSUMERS. AS OF DECEMBER 31, 2014, COBB EMC DIRECTORS BRYAN BOYD AND DAVID TENNANT WERE ON THE GAS SOUTH MANAGEMENT COMMITTEE. IN ADDITION, THE FOLLOWING MEMBERS OF COBB EMC MANAGEMENT WERE ON THE GAS SOUTH MANAGEMENT COMMITTEE: WILLIE T. NELSON (CHAIR/COBB EMC-CEO), ROBERT D. STEELE (COBB EMC-CFO) AND DAVID JOHNSON (COBB EMC-COO).