Pierce Pepin Cooperative Services

“As part of an ongoing review and continuing effort to best position the cooperative to meet the members' needs today and into the future, the amendments to the bylaws were voted on and approved at the march 2019 annual meeting. The bylaws and articles were updated for the membership provisions to reflect current law and practice, delete references to memberships as tenants in common and clarify that join memberships are memberships as joint tenants with right of survivorship. The bylaws were also updated to clarify the procedures for filling vacancies and to provide a comprehensive and workable process for filling vacancies on the board of directors that clearly describes the process based on when in the term the vacancy occurs.”

“The organization has members of the cooperative.”

“There are nine districts. Members vote for directors from each district. A director must live in the district that they represent. They are elected in three year, staggered terms with three directors up for election each year. There is a 4 term limit.”

“The members have to approve changes to the bylaws by a majority vote.”

“Copies of the form 990 are made available to the directors by a secured web site prior to being filed. Director input is then gathered and changes made before the final copy is electronically submitted to the irs.”

“Annually the employees are required to complete a questionnaire that is then reviewed by the hr department.”

“Periodical salary review by outside vendor. Use of 990's filed by comparable companies. The cooperative also subscribes to a service that provides salary data for cooperatives in the electric distribution industry.”

“Periodical salary review by outside vendor. Use of 990's filed by comparable companies. The cooperative also subscribes to a service that provides salary data for cooperatives in the electric distribution industry.”

“A copy is available at the cooperative's office for review. Paper copies are available for a nominal fee at the ellsworth office. The form is also available on guidestar.org.”

“A copy of board policies is available at the cooperative's office for review. Paper copies are available for a nominal fee.”

“Capital credits allocated 1,077,132 subsidiaries revenues included in consolidated fin 7,809 retirement of capital credits -882,275 subsidiaries expenses included in consolidated fin -30,394 total 172,272”