2025-03-21T19:29:41-04:00 2024-12-31 853667394 CORBIN & BIGGS PLLC 385-B HIGHLAND COLONY PARKWAY SUIT RIDGELAND MS 39157 990 2024-01-01 640244325 SOUTHWEST MISSISSIPPI ELECTRIC POWER ASSOCIATION SOUT 6014373611 PO BOX 5 LORMAN MS 39096 KEVIN BONDS CEO 6014373611 2025-03-20 true false GEORGE M BIGGS JR P00912499 6019572001 2025-03-21 2024 2025-03-06 01:10:19Z KEVIN BONDS PO BOX 5 LORMAN MS 39096 65708431 false X WWW.SOUTHWESTELECTRIC.COOP X 1937 MS MEMBER OWNED ELECTRIC COOPERATIVE. 10 10 95 0 0 61565624 64179373 208013 193437 1283451 1335621 63057088 65708431 0 3071595 1570690 593481 626585 0 0 59392012 63511156 63057088 65708431 0 137193681 139826409 67629411 70016540 69564270 69809869 MEMBER OWNED ELECTRIC COOPERATIVE. false false DISTRIBUTION OF ELECTRIC POWER TO MEMBERS. false false false false false false false false false true false false true true true true false false false false false false false false false false false false true false false false false false false false false false false true false false false true 49 0 true 95 true false false false false false 63536454 1466756 false false false X 10 10 false false false false true true true true true false false true true true true true true true false false X VIRGIL SCOTT 8002878564 18671 HIGHWAY 61 SOUTH LORMAN MS 39090 KEVIN BONDS CEO 40.00 X 315045 0 73130 WILLIAM NEWELL SERVICEMAN 40.00 X 178064 0 37972 DARRYL HASSELL MGR OF ENGIN 40.00 X 145723 0 42270 ERNEST ORCUTT SERVICEMAN 40.00 X 149962 0 28709 KEVIN COTTEN MGR. OF OPER 40.00 X 129819 0 44018 THOMAS J FLOYD CREW LEADER 40.00 X 126394 0 37256 VIRGIL SCOTT MGR OF ACCOU 40.00 X 130315 0 29311 STANLEY RUCKER PRESIDENT 6.00 X X 13500 0 286 PAUL ARNOLD DIRECTOR 5.00 X 8700 0 336 BETSY MOSBY SECRETARY 4.50 X X 7500 0 336 DIANE DAVAUL DIRECTOR 4.50 X 7200 0 336 ROBERT JONES DIRECTOR 4.00 X 6900 0 336 RANDY WOOLEY VICE PRESIDE 4.00 X X 6900 0 336 JOHN BRADY ASSIST SECRE 4.00 X X 6600 0 336 JAMES A VENTRESS DIRECTOR 4.00 X 6600 0 150 EDWARD EDWARDS DIRECTOR 4.00 X 6000 0 336 MARK PHILLIP MAHER DIRECTOR 4.00 X 5900 0 196 1251122 295650 23 false true false GOOD HOPE RECOVERY LLC PO BOX 614 NATCHEZ MS 39120 ROW CLEARING 3860585 KILLEN CONTRACTORS INC PO BOX 786 BRANDON MS 39042 CONSTRUCTION 1840577 SOUTHERN TREE SERVICE PO BOX 711 MEADVILLE MS 39653 R.O.W. CLEARING 660115 MDR CONSTRUCTION INC 621 EAST BAYLIS CHAPEL RD COLUMBIA MS 39429 CONTRUCTION 417157 CHEMPRO SERVICES INC 311 GULF BREEZE PARKWAY 350 GULF BREEZE FL 32563 R.O.W. SPRAYING 302550 6 OPERATING REVENUES-MEMBER 63474152 63474152 QUALIFIED POLE RENTAL INCOME 705221 705221 64179373 193437 193437 PATRONAGE CAPITAL 1273319 1273319 OTHER MEMBER INCOME 62302 62302 1335621 65708431 64809773 898658 1570690 626585 24000 29939 34054 235066 18993 128765 2421849 3984372 COST OF POWER 40017623 DISTRIBUTION - MAINTENANC 10689771 DISTRIBUTION - OPERATIONS 2648171 CONSUMER ACCOUNTS 1845438 1433115 65708431 0 0 0 1707860 3696810 4600000 3670866 3499535 2028683 2094987 353917 440573 141822171 41543232 95050189 100278939 29782166 29815565 137193681 139826409 8924585 9111630 1000000 900000 56410154 58646951 1294672 1357959 67629411 70016540 X 100645 100520 69463625 69709349 69564270 69809869 137193681 139826409 X 0 245599 X false true X true true true 141822171 41543232 100278939 100278939 PATRONAGE CAPITAL 26482438 UNBILLED REVENUE 1936937 DEFERRED CHARGES 762589 REDLEG NOTES RECEIVABLE 620340 INTEREST RECEIVABLE 13261 29815565 UNFUNDED DEFINED BENEFIT PLAN OBL. 1357959 1357959 X 65708431 65708431 65708431 64137741 64137741 1570690 1570690 65708431 SCHEDULE D, PAGE 3, PART X SWMEPA IS EXEMPT FROM INCOME TAX UNDER SECTION 501(C)(12) OF THE INTERNAL REVENUE CODE AND IS ALSO EXEMPT FROM STATE INCOME TAX. ACCOUNTING RULES PRESCRIBE WHEN TO RECOGNIZE AND HOW TO MEASURE THE FINANCIAL STATEMENT EFFECT, IF ANY, OF INCOME TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN ON INCOME TAX RETURNS INCLUDING THE POSITION THAT THE SWMEPA WILL CONTINUE TO QUALIFY AS A TAX EXEMPT ORGANIZATION. MANAGEMENT EVALUATES THE LIKELIHOOD THAT, UPON EXAMINATION BY RELEVANT TAXING JURISDICTIONS, THOSE INCOME TAX POSITIONS WOULD BE SUSTAINED. BASED ON THAT EVALUATION, IF IT WERE MORE THAN 50% PROBABLE THAT A MATERIAL AMOUNT OF INCOME TAX WOULD BE IMPOSED ON SWMEPA UPON EXAMINATION BY THE RELEVANT TAXING AUTHORITIES, A LIABILITY WOULD BE RECOGNIZED IN THE BALANCE SHEET ALONG WITH ANY INTEREST AND PENALTIES THAT WOULD RESULT FROM THAT ASSESSMENT. SHOULD ANY PENALTIES AND INTEREST BE INCURRED, SWMEPA'S POLICY WOULD BE TO RECOGNIZE THEM AS OPERATING EXPENSES. BASED ON MANAGEMENT'S EVALUATION, NO LIABILITIES OR PENALTIES AND INTEREST WERE REQUIRED TO BE RECORDED FOR UNCERTAIN TAX POSITIONS. YEARS THAT REMAIN SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE AND THE STATE OF MISSISSIPPI AS OF DECEMBER 31, 2024 WERE 2022- 2024. SCHEDULE D, PAGE 4, PART XII, LINE 4B PATRONAGE CAPITAL ALLOCATED TO MEMBERS 1,570,690 X false false false KEVIN BONDS CEO 305045 10000 48957 24173 388175 WILLIAM NEWELL SERVICEMAN 176653 1411 15668 22304 216036 DARRYL HASSELL MGR OF ENGINEER 142879 2844 24032 18238 187993 ERNEST ORCUTT SERVICEMAN 148692 1270 14168 14541 178671 KEVIN COTTEN MGR. OF OPERATIONS 127173 2646 22374 21644 173837 THOMAS J FLOYD CREW LEADER 125020 1374 14555 22701 163650 VIRGIL SCOTT MGR OF ACCOUNTING 127860 2455 20591 8720 159626 FORM 990, PAGE 6, PART VI, LINE 6 YES FORM 990, PAGE 6, PART VI, LINE 7A BOARD IS ELECTED BY MEMBERS. FORM 990, PAGE 6, PART VI, LINE 7B MEMBERS RATIFY THE ACTIONS OF THE BOARD OF DIRECTORS AT THE ANNUAL MEETING EACH YEAR. FORM 990, PAGE 6, PART VI, LINE 11B THE 990 IS REVIEWED BY THE GENERAL MANAGER AND MANAGER OF ACCOUNTING/FINANCE PRIOR TO FILING. A FULL COPY OF THE 990 IS PRESENTED TO THE BOARD PRIOR TO FILING. FORM 990, PAGE 6, PART VI, LINE 12C ANNUALLY THE BOARD IS ASKED TO DISCLOSE INTERESTS THAT MIGHT GIVE RISE TO CONFLICTS. A FORM IS GIVEN TO EACH BOARD MEMBER TO FACILITATE THIS PROCESS AND DOCUMENT CONFLICTS, IF ANY. FORM 990, PAGE 6, PART VI, LINE 15A APPROVED BY BOARD OF DIRECTORS ANNUALLY. FORM 990, PAGE 6, PART VI, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AVAIALBLE TO MEMBERS UPON REQUEST. FORM 990, PART XI PART IX , LINE 4- AMOUNTS ENTERED REPRESENT CAPITAL CREDITS ALLOCATED TO MEMBERS FOR 2024, NOT CAPITAL CREDITS RETIRED. THE ACTUAL RETIREMENT AMOUNT LESS DISCOUNTS WAS 2,114,962. PART IX, SALARIES, BENEFITS, AND PAYROLL TAXES- THE ORGANIZATION IS REQUIRED TO FOLLOW REGULATED ACCOUNTING PROCEDURES PRESCRIBED BY THE RURAL UTILITIES SERVICES. COMPENSATION IS ALLOCATED TO PLANT AND EXPENSES. COMPENSATION FOR OFFICERS AND HCE'S HAVE BEEN PRESENTED. ALL OTHER COMPENSATION HAS BEEN PRESENTED IN CATEGORIES WHERE IT WAS ALLOCATED UNDER THE ABOVE REGULATIONS. FORM 990, PART XI, LINE 9 UNCLAIMED CAPITAL CREDITS 766,041 CAPITAL CREDIT DISCOUNTS 147,845 AMORTIZATION-PRIOR SERVICE COST 640 CAPITAL CREDITS ALLOCATED 1,570,690 DECRESE IN MEMBERSHIPS -125 AMORTIZATION-ACTUARIAL LOSS -50,338 CAPITAL CREDITS RETIRED -2,114,962 ACTUARIAL LOSS ARISING 2024 -74,192 TOTAL 245,599 SOUTHWEST FIBER LLC 18671 HIGHWAY 61 LORMAN MS 39096 931959713 MS N/A