Adams Electric Cooperative Inc

“Adams electric cooperative is an electric cooperative that delivers electricity to the members of the cooperative. The members elect the board of directors, which is the governing body of the cooperative.”

“All members of the corporation receive one vote with respect to selecting the corporation's board of directors. The board has monthly meetings and an annual meeting that is open to the entire membership.”

“Certain decisions of the governing body are subject to approval by the members as provided in the bylaws.”

“Management receives and reviews a copy of the 990 with the governing body prior to filing the return with the irs.”

“During meetings if a board member has a potential conflict they will excuse themselves from voting on the particular matter involving the conflict.”

“The governing body does an annual performance review of the ceo / gm and approves the compensation package associated with this position. This includes analyzing industry data and insuring compensation falls within that data.”

“The governing body does an annual performance review of the officers and key employees and approves the compensation packages. This includes analyzing industry data and insuring compensation falls within that data.”

“Governing documents and policies are available upon request. Financial data is presented to the membership at the annual meeting and is included within the 990, which is also available upon request.”

“Form 990 part vii column (f) included in form 990, part vii, column (f) and schedule j, part ii, column (c) is the actuarial increase in defined benefit plans. The contribution rate for participants in the nreca r&s defined benefit pension plan is the same for all individuals in the plan. The change in actuarial value for each participant, however, varies with age. In other words, the older a plan participant is, the greater the increase in that individual's change in actuarial value, all other things being equal.”

“Form 990 part ix line 4 - benefits paid to or for members patronage dividends are credited to members' accounts in accordance with the pre-existing obligation in adams electric cooperative's by-laws. The cooperative is obligated to allocate margins for each patron all such amounts in excess of operating costs and expenses. Irs instructions for line 4 changed in 2011 to include patronage dividends of section 501(c)(12) organizations. Accordingly, these amounts are now reported on line 4.”

“Non-cash patronage allocation 3,874,486 patronage dividends paid 10,018,946 decrease in memberships -15,220 cont in aid of construction -925,823 retirement of capital credits -2,674,867 other comprehensive loss -1,039,000 total 9,238,522”