Electrical Workers' Veba Trust

“The Trust is administered by an eight-member Board of Trustees. IBEW Locals 77, 659, 483, and 125 appoint four trustees on behalf of the represented employees. The Northwest Line Constructor's Chapter of the National Electrical Contractors Association appoints four trustees on behalf of the participating employers.”

“The Form 990 was prepared under the guidance of the Board of Trustees by the independent accounting firm of SCHOEDEL & SCHOEDEL, Certified Public Accountants, PLLC. Draft copies of the Trust's financial statements and the Form 990 were provided to the Trust's consultants and advisors. The consultants and advisors reviewed the Form 990 for accuracy and completeness. Any questions, concerns or issues of the consultants and advisors were addressed. Revisions as necessary were made to the Form 990. The revised Form 990 was then provided to the Chairman and Collection Committee. The Chairman and Collection Committee reviewed the Form 990 for accuracy and completeness. Any questions, concerns or issues of the Chairman and Collection Committee were addressed. Revisions as necessary were made to the Form 990. The revised Form 990 was then provided to the Trustees for their review and approval. Any additional questions, concerns or issues of the Trustees were addressed. Revisions as necessary were made to the Form 990. The final version of the Form 990 was reviewed, approved and filed by the Trustees.”

“A party in interest is under continuing obligation to disclose any potential conflict of interest to the Board of Trustees as soon as it is known, or reasonably should be known. The interested person is given the opportunity to disclose all material facts to the Trustees when considering the proposed transaction or arrangement. To ensure the Trust operates in a manner consistent with it's tax-exempt purposes and does not engage in activities that could jeopardize its tax-exempt status, periodic (at least annually) reviews are conducted. These periodic reviews include: Whether compensation arrangements and benefits are reasonable, based on competent survey information, and the result of arm's length negotiation; and Whether partnerships, joint ventures, and arrangements with other organizations conform to written policies, are properly recorded, reflect reasonable investment or payments for goods and services, further the exempt purposes, and do not result in inurement, impermissible private benefit or in an excess benefit transaction.”

“The Trust's governing documents, conflict of interest policy, financial statements and Form 990 are available to the general public upon written request sent to the Trust at: REHN & Associates, PO Box 5433, Spokane, WA 99205.”

“None of the Trustees are compensated by the organization. The Board of Trustees is comprised of eight individuals, four of whom are representatives of participating employers and four of whom are representatives of participating local unions. The Trustees serve on a volunteer basis, and receive no specifically stated compensation from their employers or any other party for their services on the Board. In their roles as Trustees, all are fiduciaries and understand their obligations under the Trust Agreement and the Trust's policies and procedures, which include a conflict of interest policy. The Trust does not readily have access to information related to compensation paid by other entities to the Trustees.”