Consumers Gas Cooperative

“At the end of the year, consumers gas coorperative had two (2) officers who have a business relationship. According to irs guidelines, these two individuals have the status of top financial and management officials and are thus officers for 990 purposes. Due to this, and the business transactions between these two entities, the organization's officers have qualified, reportable business relationship for purposes of form 990, part vi, line 2.”

“During the year the organization paid a management company, aspire energy, a management fee for providing operating and management services. Jason campbell and jeremy miller of aspire energy, have the status of top financial and management officials and are thus officers for 990 purposes. Due to this and the business transactions between these two entities, compensation information is required to be reported for 990 purposes: jason campbell - $39,000 including - salary/bonus, nontaxable benefits, & deferred compensation jeremy miller - $37,000 including - salary/bonus, nontaxable benefits, & deferred compensation.”

“The organization is a non-profit corporation operating as a member-owned cooperative association with 9,728 members.”

“Each member of the cooperative, with the exception of pratronage members who do not have voting rights, shall have one (1) vote when electing the president, vice president and secretary.”

“The 990 tax-exempt return is compiled annually by an independent accounting firm engaged to provide general accounting services on a contract basis. A copy of the prepared 990 is provided to the controller of the filing organization for review. If necessary, changes are made and then the controller will review the finished return. Copies are provided to the remaining governing body members at that time. Once approved by the board, the 990 is submitted to the appropriate taxing authorities.”

“The conflict of interest policy requires all board members to file a conflict of interest statement that specifically prohibits them from having any direct pecuniary interest in a contract with the organization. In the event a board member is employed by a business which furnishes goods or services to the organization, the board member is required to declare his/her association with the organization and refrain from debating or voting upon the question of the contract.”

“The organization may provide copies of governing documents, conflict of interest policy, and financial statements to the public by way of request.”

“Patronage dividends allocated - cy 504,113.”

“The process did not change from the prior year.”