Tuesday, January 8, 2019

We're Going to Bring You the Power!

Since the electric cooperatives of Mississippi are attempting to flex some muscle as they try to bring broadband internet service to rural Mississippi, JJ took a quick peek at their tax returns.  JJ occasionally posts the 990's of Mississippi non-profit organizations.  The co-ops get their turn at bat in this post. 


The tax returns of the co-ops are public record since they are non-profit organization.  Electric power associations are big business in Mississippi as seven earn more than $100 million in annual revenue. The average CEO makes $229,457 ($204K if largest salary excluded) with average revenue of $94 million ($65 million excluding Cooperative Energy). 

The CEO of the largest electric power association in Mississippi makes nearly a million dollars per year in annual compensation - more than Entergy Mississippi CEO Haley Fisackerly.  Entergy Mississippi (EMP) earned $1.1 billion in 2016.  Cooperative Energy of Hattiesburg is the big dog of the EPA pack as it earns over $800 million in revenue last year.  However, CE is a power generator that supplies power to eleven co-ops in South Mississippi. 

Posted below is the annual revenue reported in the most recent 990, CEO salary, and number of employees making over $100,000 per year at each co-op.  Enjoy. 






*CEO is Retired. CEO paid $187,000

** PA didn't report salaries on 990

14 comments:

Anonymous said...

Looks like it pays to be the chief

Anonymous said...

24 hermit kingdom monopolies in Mississippi with rigged board elections.

Anonymous said...

I always thought Sesame Street was totally overrated. Electric Company was the bomb, and had the better theme song.

Thanks for posting the intro.

Anonymous said...

Other than Hattiesburg and Howard Fitz I don’t see any of these out offline

Anonymous said...

Looks pretty fair for CEO’s of compnies. Hell, I would have though most of them would make 200k or more. Thanks for pointing out that the one in Hattiesburg has two different companies in one.

Anonymous said...

Maybe a few of these are out of line. But what's wrong with paying a guy $179,000 to run a company with $90 million in revenue? Or paying a guy $144,00 to run a company with $34 million in revenue? Sounds underpaid if you ask me. Of course, I do not know the qualifications/performance of these individuals, number of employees under their direction, etc.

Stog said...

While I've pushed my EPA to offer broadband I have also investigated the best way for EPA's to do so and without having to invest more funds in infrastructure.

There is a model for EPA's working jointly with Fixed Wireless Broadband providers to provide Rural Hi-Speed broadband and do so as easily in the remote, sparsely populated areas, where the need is probably most critical, especially for tele-medicine.

This involves the EPA offering the service provided by their Fixed Wireless provider as a benefit (just as they do motel and other discounts) while not having to spend funds on building an infrastructure.

This joint operation does not even require special legislation.

Joseph Miller said...

There are over 18, yes 18 Fixed Wireless broadband companies in the state of Mississippi. Eagle One Wireless, LLC, TecInfo Communications, LLC, Mobile Communications LLC, and DSLbyAir, LLC just to name a few of them. We are all ready and willing to partner with the EPA's to expand further broadband to the high cost areas of our state. Because, at the end of the day, it is all about the customer.

Anonymous said...

What about their trade association EPAs of Mississippi now called Electric Cooperatives of Mississippi? What does their CEO make - the former Public Service Commissioner Michael Callahan?

Reddy Killowatt said...

https://projects.propublica.org/nonprofits/organizations/640200697/201811309349302986/IRS990

Callahan- well over $250,000.00

Anonymous said...

If you think this is bad, you should see the allegations in the lawsuits filed against Southern Pine, Dixie Electric, Coast Electric, Delta Electric, Twin County Electric Power Association, Pearl River Valley Electric Power Association, and Southwest Mississippi Electric POwer Association. Between the 7 of them, over 300 million dollars in "patronage" (as of 2016) on their balance sheets, i.e., being hoarded by------NON-PROFIT, MEMBER-OWNED PUBLIC UTILITIES. Astonishing that our elected officials have not only let this happen, but have willfully turned a blind eye because of the SUPER PAC donations from the Electric Cooperatives of Mississippi Political Action Committee donations $$$

Anonymous said...

One Manager or board member retires, their son takes their place. ie Central Electric Paul Long retires, Brian Long replaces dad as general manager.....how nice

Anonymous said...

Actually, that’s not correct. You can see on page 471 that Fisackerly’s total compensation is $1,207,343.
http://www.entergy.com/content/investor_relations/pdfs/2017_Form_10K.pdf

Kingfish said...

Fair enough. Was going off of the stock market website. Think it was Nasdaq.

I think that includes the stock options though.


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If you get tired come relax at the Fox News Tent. To gain admittance to the VIP section, bring either your Republican Party ID card or a Rebel Flag. Bringing both will entitle you to free drinks.Get your tickets now. Since this is an event for trolls, no ID is required, just bring the hate. Bring the family, Trollfest '07 is for EVERYONE!!!

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