2025-06-18T16:35:23-04:00 2024-12-31 581094351 MCNAIR MCLEMORE MIDDLEBROOKS & CO LLC POST OFFICE BOX ONE MACON GA 312020001 990 2024-01-01 580198155 COBB ELECTRIC MEMBERSHIP CORP COBB 7704292100 PO BOX 369 MARIETTA GA 300610369 MICHELLE FORTNER CFO 6783553005 2025-06-18 true false WILLIAM R ROUNTREE P01231836 4787466277 2025-06-18 2024 2025-03-06 01:10:19Z ATTN MICHELLE FORTNER CFO KEVAN ESPY 1000 EMC PARKWAY MARIETTA GA 30060 470116546 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 9 413 2648625 182235 0 450247094 465063596 1133175 1405463 2826889 3647487 454207158 470116546 0 6201976 1511176 1653077 0 0 438935974 448872166 440447150 456727219 13760008 13389327 1223128393 1320768104 465543388 437159265 757585005 883608839 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 N/A false false false false false false false false false true false true true true false false true false false false false false false false false false false false true false false false false false false false false false false true true true true false true 188 0 true 413 true true true false false false false 452938836 77297215 false false false X 9 9 false false true false true true true true true false false true true true true true true true true false GA X MICHELLE FORTNER CFO 7704292100 1000 EMC PARKWAY MARIETTA GA 30060 X KELLY P BODNER CHAIRMAN 10.00 5.00 X X 67368 2750 0 ERIC BROADWELL VICE CHAIRMA 10.00 5.00 X X 81426 2750 0 BRYAN BOYD SECRETARY/TR 7.00 5.00 X X 94234 2750 0 DAVID V TENNANT DIRECTOR 7.00 5.00 X 58270 23500 0 RUDY R UNDERWOOD DIRECTOR 10.00 5.00 X 101692 20500 0 WILLIAM C SHARP III DIRECTOR 10.00 1.00 X 69147 2750 0 DAVID MCCLELLAN DIRECTOR 7.00 5.00 X 61513 19750 0 EDWARD CROWELL DIRECTOR 10.00 10.00 X 77734 24250 0 CHARLES M SWANSON DIRECTOR 7.00 5.00 X 76442 19000 0 KEVAN ESPY PRESIDENT & 50.00 X 843607 0 121645 MICHELLE FORTNER CFO 50.00 X 476305 0 100597 TIM SOSEBEE SR VP-BUSINE 50.00 X 396183 0 133122 TIMOTHY HARSHBARGER VP-HUMAN RES 50.00 X 391611 0 82274 TIM JARRELL VP-POWER SUP 50.00 X 363939 0 119291 KELSIE DANIELS VP-INFO. TEC 50.00 X 403116 0 65663 3562587 118000 622592 243 false true false PIKE ELECTRIC INC 100 PIKE WAY MOUNT AIRY NC 27030 OUTSIDE SRV 8226084 POWERGRID SERVICES LLC 2350 HWY 31 NW HARTSELLE AL 35640 OUTSIDE SRV 3691503 INTEGRATED SITEWORK LLC 845 CURTIS PKWY CALHOUN GA 30701 OUTSIDE SRV 3444985 LEWIS TREE SERVICE INC 300 LUCIUS GORDON DR NEW YORK NY 14586 OUTSIDE SRV 2918607 ELITE UTILITY SOLUTIONS 1563 CALVARY CHURCH RD GAINESVILLE GA 30507 OUTSIDE SRV 2145935 39 ELECTRIC REVENUE 221000 451519561 451519561 PATRONAGE CAPITAL CREDITS 221000 9836124 9836124 POLE AND OTHER ATTACHMENTS 221000 3707911 3707911 465063596 1405463 1405463 1005827 1005827 128513 210000 128513 210000 338513 210000 128513 FINANCIAL GUARANTY FEES 900099 2056963 2056963 FINDER'S FEES AND INCENTIVES 900099 369512 369512 OTHER REVENUE 221000 98346 98346 -221674 -233824 12150 2303147 470116546 462625670 2648625 4842251 6201976 1653077 15806916 37924375 PURCHASED POWER 314436230 ADMIN. & GENERAL EXP. 24504948 DISTRIBUTION MAINTENANCE 23927762 CONSUMER ACCOUNTS 16248615 16023320 456727219 0 0 0 6680789 19864882 60971153 59336169 6484937 6356454 7040012 7357067 1898866 2139536 1132001530 342686715 763317324 789314815 242217436 249515501 134517876 186883680 1223128393 1320768104 55520278 51250674 347883457 324544201 62139653 61364390 465543388 437159265 X 364520 351035 757220485 883257804 757585005 883608839 1223128393 1320768104 X 13389327 112634507 X false true X true false 9654814 9654814 28646730 23278280 5368450 1093699986 319408435 774291551 789314815 INVESTMENT IN ASSOC. - OPC 143185374 C INVESTMENT IN ASSOC. - GTC 46121114 C INVESTMENT IN ASSOC.- NRUCFC 44134697 C INVESTMENTS IN ASSOC. - SEWELL CK 6053270 C INVESTMENT IN ASSOC.- GRESCO 4670396 C INVESTMENTS IN ASSOC. - SMARR 3295554 C INVESTMENTS IN ASSOC. - FEDERATED 1031666 C INVESTMENT IN ASSOC.- COBANK 490633 C INVESTMENT IN ASSOC.- NISC 393105 C INVESTMENT IN ASSOC.- SEDC 64223 C INVESTMENT IN ASSOC. - NRTC 33452 C INVESTMENTS IN ASSOC. - GSOC 32199 C INVESTMENTS IN ASSOC. - CRC 9458 C INVESTMENTS IN ASSOC. - OTHER 360 C 249515501 INVESTMENTS IN SUBSIDIARIES 183145868 DEFERRED COMPENSATION 3737812 186883680 REGULATORY LIABILITIES 27399300 CONSUMER DEPOSITS 16063502 OVERRECOVERY OF COSTS 8590852 OTHER DEFERRED CREDITS 4868145 DEFERRED COMPENSATION 3883232 FINANCE LEASE 559359 61364390 470116546 470116546 470116546 450525243 450525243 6201976 6201976 456727219 SCHEDULE D, PAGE 4, PART XII, LINE 4B PATRONAGE CAPITAL CREDITS ASSIGNED 6,201,976 X true true X X X X false true false KEVAN ESPY PRESIDENT & CEO 629629 196111 17867 110021 11624 965252 MICHELLE FORTNER CFO 359315 53463 63527 65858 34739 576902 TIM SOSEBEE SR VP-BUSINESS OPS 329787 42778 23618 98383 34739 529305 TIMOTHY HARSHBARGER VP-HUMAN RESOURCES 292679 36908 62024 57937 24337 473885 TIM JARRELL VP-POWER SUPPLY 308939 36849 18151 84552 34739 483230 KELSIE DANIELS VP-INFO. TECH. 289516 37230 76370 54039 11624 468779 SCHEDULE J, PAGE 1, PART I, LINE 4 KEVAN ESPY 0 12,720 0 MICHELLE FORTNER 0 48,623 0 TIM SOSEBEE 0 9,149 0 TIMOTHY HARSHBARGER 0 43,977 0 TIM JARRELL 0 7,235 0 KELSIE DANIELS 0 63,447 0 SCHEDULE J, PART III PART I, LINE 1A - FRINGE OR EXPENSE EXPLANATION MARIETTA COUNTRY CLUB: KEVAN ESPY (PRESIDENT & CEO) - 9,530 (DUES) 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 THE CORPORATION'S RECORDS ARE MAINTAINED IN ACCORDANCE WITH THE UNIFORM SYSTEM OF ACCOUNTS PRESCRIBED BY THE FEDERAL ENERGY REGULATORY COMMISSION (18CFR.PART 101). THOSE PRACTICES UTILIZE ALLOCATION OF CERTAIN EXPENSES BASED ON LABOR CHARGES OR OTHER ALLOCATION BASES. AS A RESULT, IT WOULD REQUIRE SIGNIFICANT EFFORT TO BREAK OUT EXPENSES IN THE FUNCTIONAL CATEGORIES PROVIDED FOR ON THE STATEMENT OF FUNCTIONAL EXPENSES. MANAGEMENT HAS OPTED TO CLASSIFY ITS EXPENSES ON THE STATEMENT OF FUNCTIONAL EXPENSES IN THE SAME MANNER IT REPORTS ITS FINANCIAL RESULTS TO LENDERS AND ITS MEMBER-OWNERS. FORM 990, PART VI PART VI, SECTION B, LINE 13, WHISTLEBLOWER POLICY: COBB EMC'S WHISTLEBLOWER POLICY IS DOCUMENTED IN BOARD POLICY 915. A COPY OF THE POLICY IS ATTACHED TO THIS RETURN. PART VI, SECTION B, LINE 14, DOCUMENT RETENTION AND DESTRUCTION POLICY: COBB EMC'S RECORDS RETENTION POLICY IS DOCUMENTED IN BOARD POLICY 701. A COPY OF THE POLICY IS ATTACHED TO THIS RETURN. THE BOARD OF DIRECTORS HAS ADOPTED BOARD POLICY 608-CORPORATE COMMITTEE STRUCTURE TO MORE CLEARLY DEFINE THE DUTIES AND RESPONSIBILITIES OF ALL COMMITTEES OF THE BOARD OF DIRECTORS. A COPY OF THAT POLICY IS ATTACHED TO THIS RETURN. THE CORPORATION CONTEMPORANEOUSLY DOCUMENTS THE MEETINGS HELD AND ACTIONS UNDERTAKEN BY THE FULL BOARD OF DIRECTORS, AS WELL AS ITS COMMITTEES. FORM 990, PAGE 6, PART VI, LINE 4 AS A RURAL ELECTRIC COOPERATIVE, COBB EMC IS SUBJECT TO AN 85/15 MEMBER INCOME TEST ANNUALLY. THE 85/15 MEMBER INCOME TEST REQUIRES COBB EMC'S GROSS RECEIPTS FROM MEMBERS TO EQUAL OR EXCEED 85 PERCENT OF ALL GROSS RECEIPTS, WITH CERTAIN EXCLUSIONS. THE TEST MUST BE PERFORMED ANNUALLY. IN YEARS WHERE COBB EMC PASSES THE 85/15 MEMBER INCOME TEST, IT RETAINS ITS TAX EXEMPTION UNDER SECTION 501(C)(12) OF THE INTERNAL REVENUE CODE. IN YEARS THAT COBB EMC DOES NOT PASS THE TEST, COBB EMC IS DESIGNATED AS A NONEXEMPT COOPERATIVE. COBB EMC'S FILED ITS LAST 990 IN CALENDAR YEAR 2022. COBB EMC UPDATED AMENDED ITS BYLAWS IN 2023. A COPY OF THE AMENDED BYLAWS IS ATTACHED TO THIS RETURN. 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 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, WHICH 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 AS OUTLINED IN BOARD POLICY 608, WHICH IS ATTACHED TO THIS RETURN, THE ANNUAL CEO REVIEW IS CONDUCTED BY THE BOARD'S HUMAN RESOURCES COMMITTEE, WHICH MAKES A COMPENSATION RECOMMENDATION TO THE FULL BOARD FOR THEIR APPROVAL. 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. THE CORPORATION'S ANNUAL REPORT IS AVAILABLE ON IT'S WEBSITE. AUDITED FINANCIAL STATEMENTS AND OTHER FINANCIAL INFORMATION IS AVAILABLE TO THE CORPORATION'S MEMBERS THROUGH THE MEMBER PORTAL. FORM 990, PART VII THE CORPORATION ELECTS ITS BOARD OFFICERS ANNUALLY. THE OFFICERS LISTED ON PART VII WERE SERVING IN THAT CAPACITY AS OF DECEMBER 31, 2024. BOARD OFFICERS WHICH SERVED IN 2023-2024 WERE AS FOLLOWS: CHAIRMAN - RUDY R. UNDERWOOD VICE CHAIRMAN - ERIC BROADWELL SECRETARY/TREASURER - WILLIAM C. SHARP, III FORM 990, PART XI, LINE 9 WHOLLY-OWNED SUBSIDIARY EARNINGS 120,129,308 CHANGE IN DONATED CAPITAL 37,489 PATRONAGE CAPITAL CREDITS 6,201,976 OTHER 186,708 CHANGE IN MEMBERSHIP FEES -13,485 RETIREMENT OF PATRONAGE CAPITAL -13,907,489 TOTAL 112,634,507 FIBER SOUTH BROADBAND LLC FIBER SOUTH BROADBAND LLC 1000 EMC PARKWAY 1000 EMC PARKWAY MARIETTA GA 30061 845178162 DORMANT GA COBB EMC COBB EMC COBB EMC FOUNDATION INC 1000 EMC PARKWAY MARIETTA GA 30060 463645573 CHARITY GA 3 7 NA false GAS SOUTH LLC PO BOX 4298 ATLANTA GA 30302 203608242 NAT GAS MA GA N/A true COBB ENERGY MANAGEMENT CORPORATION 1000 EMC PARKWAY MARIETTA GA 30060 582345061 HOLDING CO GA N/A true true true false true false true false false false false true false false false true false true false false GAS SOUTH LLC A 1575332 FMV GAS SOUTH LLC D 2056963 FMV GAS SOUTH LLC F 70000000 COST GAS SOUTH LLC K 126298 FMV GAS SOUTH LLC O 362205 COST GAS SOUTH LLC Q 6639 COST COBB EMC FOUNDATION INC O 49104 COST COBB EMC FOUNDATION INC B 38162 COST SCHEDULE R RELATED ORGANIZATIONS: COBB ENERGY MANAGEMENT CORPORATION (COBB ENERGY): COBB ENERGY MANAGEMENT CORPORATION (COBB ENERGY), A WHOLLY-OWNED SUBSIDIARY OF COBB EMC, WAS INCORPORATED IN THE STATE OF GEORGIA ON SEPTEMBER 3, 1997, TO PROVIDE VARIOUS SERVICES TO COBB EMC, ITS SUBSIDIARIES, AND THIRD PARTIES. COBB ENERGY IS EFFECTIVELY A HOLDING COMPANY WITH NO ACTIVE OPERATIONS AS OF DECEMBER 31, 2024. ALL SUBSIDIARIES OF COBB ENERGY HAVE BEEN DISSOLVED. GAS SOUTH, LLC (GAS SOUTH) AND SUBSIDIARIES: GAS SOUTH, LLC, TOGETHER WITH ITS CONSOLIDATED SUBSIDIARIES, IS A NATURAL GAS MARKETER THAT SERVES BOTH RETAIL AND WHOLESALE MARKETS PRIMARILY IN THE SOUTHEASTERN UNITED STATES. IN THE RETAIL MARKET, GAS SOUTH SUPPLIES FIRM NATURAL GAS SERVICE TO RESIDENTIAL, COMMERCIAL, AND INDUSTRIAL END USERS IN MARKETS WITH RETAIL CHOICE. IN THE WHOLESALE MARKET, GAS SOUTH SUPPLIES NATURAL GAS AND MANAGES PIPELINE CAPACITY AND STORAGE ASSETS ON BEHALF OF GAS UTILITIES, POWER PLANTS, LNG TERMINALS, GAS PRODUCERS, AND COMPLEX COMMERCIAL AND INDUSTRIAL USERS. GAS SOUTH IS ALSO A LEADING NATURAL GAS TRADER THROUGHOUT ITS SERVICE AREA. COBB EMC PROVIDES PARENTAL GUARANTEES TO MEET GAS SOUTH'S LIQUIDITY SUPPORT REQUIREMENTS FOR SUPPLIERS, PIPELINES AND LDCS. THE AMOUNT THE CORPORATION CHARGED GAS SOUTH FOR PARENTAL GUARANTEES FOR THE YEAR ENDED DECEMBER 31, 2024 IS REPRESENTED AS CODE D ON SCHEDULE R, PART V. GAS SOUTH'S 2024 CORPORATE INCOME TAX RETURN IS ON EXTENSION. AS A RESULT, THE INFORMATION REQUESTED ON SCHEDULE R PART IV, COLUMNS (F) AND (G) HAVE NOT BEEN COMPLETED. GAS SOUTH'S MANAGEMENT COMMITTEE IS MADE UP OF COBB EMC EXECUTIVE MANAGEMENT AND FOUR COBB EMC BOARD MEMBERS. COBB EMC BOARD MEMBERS SERVING ON THE MANAGEMENT COMMITTEE ARE COMPENSATED DIRECTLY BY GAS SOUTH. THESE AMOUNTS ARE REPORTED ON COBB EMC'S FORM 990 AS "REPORTABLE COMPENSATION FROM RELATED ORGANIZATIONS". FIBER SOUTH BROADBAND, LLC: FIBER SOUTH BROADBAND, LLC (FIBER SOUTH) IS A WHOLLY OWNED SINGLE-MEMBER LLC OF COBB EMC. FIBER SOUTH WAS A PROVIDER OF RETAIL BROADBAND SERVICES THROUGH APRIL 30, 2021; THE DATE WHICH FIBER SOUTH SOLD ALL OF ITS ASSETS. FIBER SOUTH HAD NO OPERATIONS IN 2024. COBB EMC FOUNDATION INC. THE CORPORATION'S MEMBERS CAN PARTICIPATE IN AN OPERATION ROUNDUP PROGRAM AND HAVE THEIR ELECTRIC BILL ROUNDED TO THE NEXT HIGHEST WHOLE DOLLAR EACH MONTH. THESE FUNDS ARE TREATED AS CONTRIBUTIONS TO COBB EMC FOUNDATION INC, (THE FOUNDATION), A NONPROFIT 501(C)(3) ORGANIZATION. THE FOUNDATION MAINTAINS A SEPARATE BOARD OF DIRECTORS WHICH APPROVES CHARITABLE ASSISATNCE TO THE AREAS SERVED BY COBB EMC. THE FOUNDATION HAS NO EMPLOYEES.