Midwest Energy Cooperative

“Robert hance and gerry bundle served on the board of another tax exempt organization with which midwest energy cooperative does business with.”

“Members elect the board of directors by region.”

“The organization is a cooperative formed to provide utility service to its members. The members elect the governing body and approve changes in the by-laws. Members are entitled to one vote upon each matter submitted to a vote of the members.”

“The form 990 is reviewed by the cfo, and is then presented to the board of directors for approval.”

“The board of directors, president & ceo, and general counsel are responsible for ensuring compliance with this policy. If the board or committee has reasonable cause to believe that a member has failed to disclose actual or possible conflicts of interest, it shall inform the member of the basis for such belief and afford the member an opportunity to explain the alleged failure to disclose. If, after hearing the response of the member and making such further investigation as may be warranted in the circumstances, the board or committee determines that the member has in fact failed to disclose an actual or possible conflict of interest, it shall take appropriate disciplinary or corrective action.”

“Amount of ceo compensation is determined by board policy number b-04. The amount of compensation is calculated using comparable data, both industry and non-industry specific. The compensation committee reviews and approves the data annually. The most recent review occurred in april 2023.”

“Governing documents are made available on the cooperative website, the conflict of interest policy is available upon request, and the financial statements are published in country lines magazine.”

“Unrealized gain (loss) on pension and post-retirement benefits other than pensions 417,510. Retirement of capital credits -855,856. Other equity additions 763,970. Amount of benefits paid to members per 990 instructions, interpreted to equal net margins as that is the equivalent of the benefits members receive in the current year 17,909,431.”