Richland Electric Cooperative

“Explanation: the cooperative is organized without capital stock and there is only one class of members with respect to voting rights.”

“Explanation: members of the cooperative elect members of the board of directors at the annual meeting.”

“Explanation: each member is entitled to one vote upon each matter submitted to a vote at the meeting of the members.”

“Explanation: form 990 is reviewed by the board of directors after being prepared. A copy, either electronic or facsimile, is sent to the board of directors for their review. Any questions or comments are raised at the next scheduled board meeting.”

“Any conflicts of interest that arise are brought to the attention of the general manager and/or the board of directors.”

“Explanation: ceo, officer, and key employee compensation is reviewed by the board of directors and the salary is adjusted based upon a national comparability study prepared by an independent party. The comparability data is segmented into nation, state, region, and size of organization, and correlated with local data for similar positions in the community. The ceos compensation is also based on performance of strategic goals as determined in a strategic planning process as well as safety performance.”

“SEE ABOVE.”

“Explanation: the organization provides each new member with a copy of the bylaws and articles of incorporation. Existing members can request copies free of charge. Financial statements are provided to each member annually in an annual meeting booklet mailed to all members. These booklets are also available on the organizations website. Detailed copies of the organizations audit are available upon request. Board and administrative policies are available to members for any suitable business purpose, upon request.”

“Additional other compensation was added to part vii and schedule j for an officer”

“Current year margins allocated to members 180,267 capital credits retired -186,179 total -5,912”