Cooperative Energy A Mississippi Electric Cooperative
- Assets
- $2.2b
- Revenue
- $956.7m
- Investments
- $0.0
- Employees
- 567
- Location
- Hattiesburg, MS
- Founding
- 02/1968
- Data as of
- 12/2022
- EIN
- 64-0367992
Organization Overview
Cooperative Energy A Mississippi Electric Cooperative is located in Hattiesburg, MS. The organization was established in 1968. According to its NTEE Classification (W80) the organization is classified as: Public Utilities, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2022, Cooperative Energy A Mississippi Electric Cooperative employed 567 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cooperative Energy A Mississippi Electric Cooperative is a 501(c)(12) and as such, is described as a "Benevolent Life Insurance Association, Mutual Ditch or Irrigation Company, Mutual or Cooperative Telephone Company" by the IRS.
For the year ending 12/2022, Cooperative Energy A Mississippi Electric Cooperative generated $956.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.6% each year. All expenses for the organization totaled $956.7m during the year ending 12/2022. While expenses have increased by 1.6% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Cooperative Energy A Mississippi Electric Cooperative has awarded 54 individual grants totaling $2,178,618. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE AND TRANSMIT THROUGH GENERATION AND PURCHASE OF ELECTRICITY, WHOLESALE ELECTRICITY TO 11 MEMBER OWNER COOPERATIVES, EACH SERVING RETAIL CONSUMERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ronald G Barnes Director | Trustee | 2.19 | $32,873 |
Kevin Bonds Director | Trustee | 3.81 | $31,700 |
Joel Cunningham Director | Trustee | 2.15 | $33,443 |
Howard Davis Director | Trustee | 1.76 | $31,134 |
Richard Dossett Director | Trustee | 1.13 | $33,023 |
Teri Eaton Director (beg. 06/22) | Trustee | 2.02 | $16,310 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Siemens Energy Inc Plant Maintenance Svcs | 12/30/22 | $25,142,045 |
Performance Contractors Inc Engineering & Cap Project | 12/30/22 | $17,866,016 |
Burns And Mcdonnell Engineering Co Inc Engineering & Cap Project | 12/30/22 | $13,113,478 |
Stuart C Irby Company Plant Maintenance Svcs | 12/30/22 | $5,866,779 |
General Electric International Inc Plant Maintenance Svcs | 12/30/22 | $25,769,169 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $955,133,468 |
| Investment income | $1,409,375 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $108,337 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $956,651,180 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $871,416 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $20,000,000 |
| Compensation of current officers, directors, key employees. | $5,451,722 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $40,102,680 |
| Pension plan accruals and contributions | $9,109,720 |
| Other employee benefits | $6,438,002 |
| Payroll taxes | $4,306,422 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $840,942 |
| Fees for services: Accounting | $404,904 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $447,902 |
| Fees for services: Other | $2,692,079 |
| Advertising and promotion | $518,415 |
| Office expenses | $3,515,168 |
| Information technology | $801,202 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $874,141 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $31,007,581 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $83,306,258 |
| Insurance | $3,907,572 |
| All other expenses | $9,948,182 |
| Total functional expenses | $956,651,180 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $23,197,164 |
| Savings and temporary cash investments | $53,163,624 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $90,804,908 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $56,229,435 |
| Prepaid expenses and deferred charges | $196,886,661 |
| Net Land, buildings, and equipment | $1,648,616,454 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $119,749,054 |
| Intangible assets | $0 |
| Other assets | $640,968 |
| Total assets | $2,189,288,268 |
| Accounts payable and accrued expenses | $132,158,800 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $1,164,001,641 |
| Unsecured mortgages and notes payable | $180,547,215 |
| Other liabilities | $257,461,800 |
| Total liabilities | $1,734,169,456 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $455,118,812 |
| Total liabilities and net assets/fund balances | $2,189,288,268 |
Grants Awarded
Over the last fiscal year, Cooperative Energy A Mississippi Electric Cooperative has awarded $866,416 in support to 9 organizations.
| Grant Recipient | Amount |
|---|---|
ECONOMIC DEVELOPMENT AUTHORITY OF JONES COUNTY PURPOSE: ECONOMIC DEVELOPMENT | $50,000 |
ECONOMIC DEVELOPMENT AUTHORITY OF JONES COUNTY PURPOSE: ECONOMIC DEVELOPMENT | $50,000 |
SOUTHWEST MISS ELECTRIC POWER ASSOCIATION PURPOSE: ECONOMIC DEVELOPMENT | $604,416 |
CAMP KAMASA - MS STRONGEST KIDS PURPOSE: ECONOMIC DEVELOPMENT | $50,000 |
CITY OF WINONA PURPOSE: ECONOMIC DEVELOPMENT | $25,000 |
CARPENTER POLE AND PILING PURPOSE: ECONOMIC DEVELOPMENT | $25,000 |