2023-11-06T09:56:13-06:00 2022-12-31 631035228 Jackson Thornton & Co PC PO Box 96 Montgomery AL 361010096 990 2022-01-01 640169075 Coast Electric Power Association COAS 2283637000 PO Box 2430 Bay St Louis MS 39521 Ron Barnes President & CEO 2283637000 2023-10-31 1 Ron Barnes XXX-XX-XXXX 1 Patrick Cooper P00856177 3348347660 2023-10-30 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z Ron Barnes PO Box 2430 Bay St Louis MS 39521 231986787 0 X www.coastepa.com X 1937 MS To provide electricity to rural areas of Hancock, Harrison, and Pearl River counties. 9 9 306 0 3393049 0 0 0 198430684 228259071 575411 370526 6410134 3357170 205416229 231986767 0 0 13527424 9194947 2318641 2935358 0 0 0 189570164 219856462 205416229 231986767 0 0 466699348 535918882 256190356 315557591 210508992 220361291 We exist to safely provide our member/owners superior service and dependable electricity at the lowest possible price, and to improve the economy and quality of life in our community. 0 0 Utilizing 7,152 miles of electric distribution lines, Coast Electric Power Association provided electric energy to approximately 88,086 residential, commercial and industrial meters located in Harrison, Hancock and Pearl River counties (Mississippi). 0 0 0 0 0 0 0 0 0 1 0 1 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 1 83 0 1 306 1 1 1 0 0 0 0 223654452 4975145 0 0 0 X 9 9 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X Ron Barnes 2283637338 18020 Hwy 603 Kiln MS 39556 Gilbert Arceneaux Director 8.00 2.00 X 36700 0 0 James Baldree Director 11.00 3.00 X 40000 0 0 Richard Dossett Director/Chairman 8.00 2.00 X 33900 0 0 Teri Eaton Director 9.00 2.00 X 36200 0 0 Paul Guichet Director 9.00 2.00 X 42950 0 0 Charles Lopez Director 10.00 2.00 X 43400 0 0 Frank McClinton Director/Secretary Treasur 8.00 2.00 X 36700 0 0 William Mooney Director/Vice Chairman 7.00 2.00 X 35800 0 0 Gordon Redd Jr Director 7.00 2.00 X 35300 0 0 John Holston CFO 40.00 2.00 X 335586 0 141188 Ron Barnes CEO 48.00 4.00 X 465135 0 380084 Charles S Brown Sr. VP Engineering & Operations 47.00 X 284387 0 123679 Steven Broussard VP Engineering 55.00 X 194336 0 126918 Wilson Eaton VP of HR and Staff Attorn 40.00 10.00 X 211328 0 53632 Kendall Ladner VP of Operations 50.00 0.00 X 182880 0 95255 Louis Lee Jr VP Special Projects 45.00 14.00 X 239634 0 79059 Guy Johnson VP HAN & PIC OP 45.00 X 242994 0 124492 Archie Dickens VP Sfty & Comp 45.00 X 192070 0 157221 Melissa Russo Comp, PR, MBR SVC 45.00 4.00 X 192694 0 124490 Bruce Marie VP Purch/Energy Management 40.00 0.00 X 168774 0 122980 3050768 0 1528998 36 0 1 0 Davey Tree Expert Company 1500 N Mantua St Kent OH 44240 Right of Way Contract 2018160 DCL Construction LLC 26071 Hwy 603 Kiln MS 39556 Line Locates 1521846 Culpepper Construction & Masonry LLC 859 Hwy 26 W Poplarville MS 39470 Construction Contract 245700 B & B Maintenance & Services 26 Rocky Ridge Picayune MS 39466 Janitorial Services 237064 Gary W Mitchell 15 Mitchell Lane Picayune MS 39466 Construction Contract 152257 5 Sales of Electricity 221000 223654452 223654452 Patronage Capital 221000 4604619 4604619 228259071 237796 237796 7381842 0 7381842 7381842 3393049 3988793 132730 0 132730 132730 132730 20 -20 -20 Loss on investment in 900099 -4024652 -4024652 -4024652 231986767 228259051 3393049 334667 9194947 2935358 4762987 14364503 Cost of Power 150987979 Dist Exp - Maintenance 21803603 Dist Exp - Operations 8937722 Admin & Gen Expenses 8055975 10943693 231986767 5381104 3526110 20408919 45370580 4111846 5679911 681793 837292 516366826 126363723 344883747 390003103 81960307 82608153 9271632 7893733 466699348 535918882 78138558 130074703 119851233 127595825 58200565 57887063 256190356 315557591 X 495610 502790 0 0 210013382 219858501 210508992 220361291 466699348 535918882 X 0 9852299 X 0 1 X 1 1 1 4879507 4879507 35602121 10490280 25111841 475885198 115873443 360011755 390003103 Patronage Capital - SMEPA 80831085 C Patronage Capital - NRUCFC 1208618 C Patronage Capital - EPA's of Mississippi 705985 C Patronage Capital - Arkansas Electric 79317 C Patronage Capital - NRTC 4787 C Patronage Capital - SEDC 436323 C Captial Term Certificates 1686955 C Patronage Capital - CoBank 1224356 C Investment in CoastConnect -4590860 C Other Investments in Associated Organizations 2011 C Investment in Federated Stock 1019576 C 82608153 Accumulated Postretirement Benefit Obligation 18106365 Go Zone Bonds Payable 24405000 Power Costs Payable 15375698 57887063 X Part X, Line 2: CEPA is exempt from income taxes under Internal Revenue Code Section 501(c)(12). CoastConnect is subject to federal and state income taxes. Management has evaluated the Association's tax positions and concluded that the Association has taken no uncertain tax positions that require adjustment to the financial statements. X X X 0 1 0 Ron Barnes CEO 379849 0 84250 0 1036 0 334308 0 45776 0 845219 0 0 0 John Holston CFO 273607 0 57252 0 4727 0 101959 0 39229 0 476774 0 0 0 Charles S Brown Sr. VP Engineering & Operations 237037 0 49889 0 -2539 0 103077 0 20602 0 408066 0 0 0 Guy Johnson VP HAN & PIC OP 202713 0 42112 0 -1831 0 99915 0 24577 0 367486 0 0 0 Archie Dickens VP Sfty & Comp 162789 0 34069 0 -4788 0 132548 0 24673 0 349291 0 0 0 Steven Broussard VP Engineering 164091 0 35190 0 -4945 0 101658 0 25260 0 321254 0 0 0 Louis Lee Jr VP Special Projects 197944 0 41176 0 514 0 70276 0 8783 0 318693 0 0 0 Melissa Russo Comp, PR, MBR SVC 157967 0 33975 0 752 0 123373 0 1117 0 317184 0 0 0 Bruce Marie VP Purch/Energy Management 142132 0 31310 0 -4668 0 98452 0 24528 0 291754 0 0 0 Kendall Ladner VP of Operations 155954 0 33196 0 -6270 0 72239 0 23016 0 278135 0 0 0 Wilson Eaton VP of HR and Staff Attorn 176294 0 36436 0 -1402 0 36918 0 16714 0 264960 0 0 0 Part I, Line 4b Employees listed on Schedule J participated in a 457b plan but didn't receive payments in 2022. Form 990, Part VI, Section A, line 6 Because Coast Electric Power Association is chartered and incorporated under Mississippi law as a not-for-profit cooperative, the charter requires that each person receiving electric service from the association be a member. Form 990, Part VI, Section A, line 7a At each annual meeting of the members, one-third (1/3) of the total number of directors shall be elected by the members to serve for a term of three (3) years as provided by law. If the election of directors shall not be held at the annual meeting, or if such annual meeting is not held, each director shall hold office until their successors shall have been elected and qualified. Form 990, Part VI, Section A, line 7b The business and affairs of the Association are managed by the Board of Directors which exercises all of the powers of the Association except such as are by law, or by the Certificate of Consolidation of the Association, or by the bylaws, conferred upon or reserved to the members. Form 990, Part VI, Section B, line 11b Once the Form 990 is completed, the VP of Financial & Administrative Services and the accounting department supervisor reviews the Form 990. After the Form 990 has been reviewed by these individuals, each member of the board of directors receives a copy of the form for his/her review. The VP of Financial & Administrative Services and the accounting department supervisor present a general overview of the forms' questions and answers. Once the presentation is complete, the board members are given an opportunity to ask questions. Once all questions have been satisfactorily answered, the President/CEO will sign the e-file authorization form allowing the Form 990 to be transmitted to the Internal Revenue Service. Form 990, Part VI, Section B, line 12c New vendors are reviewed for possible conflicts with directors/officers. Directors/officers are required to report any new affiliations they may enter into. Form 990, Part VI, Section B, line 15 An executive compensation review was presented to the Board of Directors. The following components were included in the review: (1) Compensation Strategy; (2) Total Executive Compensation Philosophy Statement; (3) Elements of a Compensation Program; (4) Detailed Market Data; (5) Form 990 Explanation; (6) Discussion of Goal Sharing Programs; (7) Review of Current Benefits and Incentives. Comparability data for the CEO and other key employees was obtained from the following sources: 1. Economic Research Institute 2. NRECA National Compensation Survey 3. EPAM Statewide Compensation Survey 4. WorldAtWork 5. InTandem Consultants National and Local Compensation Survey Positions are surveyed yearly to ensure they remain competitive with the market. Raises are based on performance and position within the salary grade. A recommendation was made to the Board concerning the range movement for the CEO pay grade based on information from the detailed market survey. The CEO and top management pay is based on a pay for performance system where the performance evaluation "grade" is entered into a comprehensive spreadsheet. The spreadsheet is designed to compute a pay raise based on a matrix of four performance levels (average, good, excellent and outstanding) divided into the lower third, middle third and upper third of the pay range. Form 990, Part VI, Section C, line 19 Coast Electric Power Association's governing documents, conflict of interest policy, and financial statements are available to the public upon request at the main office in Kiln, Mississippi. Form 990, Part XI, line 9: Change in memberships 7,180. Retirement of capital credits -6,283,805. Other comprehensive income 4,669,201. Gain on retirement of capital credits 2,264,776. Assignment of Current Year Margins to Members 9,194,947. Coast Connect LLC 18020 Highway 603 Kiln MS 39556 851349209 Internet MS Coast Electric Power Association C 8313329 17853566 1.00000 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 CoastConnect LLC A 3393049 Cash CoastConnect LLC Q 2123649 Cash CoastConnect LLC P 645900 Cash