Alger Delta Co Op Electric Association

“Alger Delta Cooperative is an electric cooperative providing electricity to customers in nine rural districts. Each customer is a member of the Cooperative with one voting right each.”

“Alger Delta Cooperative is an electric Cooperative consisting of nine districts. The members in each district nominate and vote for their director. Each director is elected for a term of three years. Three directors are elected each year.”

“Members retain the right to vote on the sale, merger, acquisition or dissolution of the cooperative; members have the right to vote to reinstate expelled members; they have the right to vote to elect or remove their district representative (board member); and they have the right to vote to amend the bylaws of the organization.”

“There are no committees that can act on behalf of the governing board.”

“The Form 990 is reviewed by the General Manager. It is also provided at a board meeting for the Board's review and approval prior to being filed with the IRS.”

“All employees and Directors are annually required to review the conflict of interest policy and disclose if they have an actual or potential conflict of interest. The General Manager reviews all reported actual or potential conflicts to determine if a conflict exists. The Board of Directors reviews the General Manager and other manager disclosures. If an actual or potential conflict is determined to exist that individual must abstain from any participation relative to the conflicting issue(s).”

“The Board annually reviews the General Manager's performance based on the performance review and the National Compensation Survey. The deliberation process was substantiated in board minutes. The General Manager reviews the CFO's performance annually using same survey.”

“Each new member is referred to a copy of the company's by-laws on our website, and mailed our "Code of Conduct". The governing documents and the financial statements are available on our website. They are also available upon request, along with the conflict of interest policy.”

“Included in column "F", estimated amount of other compensation, is the estimated annual increase in the actuarial value of the defined benefit plan. The estimated increase for Thomas Harrell is $85,354, Amanda Seger is $12,509, Travis Templeton is $6,682, William Carlson is $7,963, Todd Wilson is $13,777, Stephen LaBonte Jr is $17,471, and Johnathon Conger is $3,518. These amounts are estimates in the increase of the value of the plan and are not current year expenses of the cooperative. The current year expense for this defined benefit plan was $30,015, $23,378, $15,885, $15,885, $17,115, $15,885, and $14,103 respectively.”

“The labor, pension, and payroll taxes reported on lines 5-10 are already included in distribution expense, administrative & general expense and customer expense. Therefore, these amounts are being subtracted out as an other deduction included on line 24e in the amount of $(1,970,331).”

“The Cooperative has interpreted the instructions to Part IX, Line 4, to mean patronage capital allocated for the year, rather than patronage capital retired. This is consistent with the Bylaws of the Cooperative.”

“Patronage Capital Credits Allocated During Current Year 1,432,919. Retirement of Capital Credits -573,323. Unclaimed Credits 134,108.”