Meeker Cooperative Light & Power Association

“The cooperative's bylaws were amended. The amended bylaws were adopted by the voting members of the cooperative on april 8, 2013.”

“Meeker cooperative is a non-profit 501(c)(12) corporation operating as a cooperative. The owners of meeker cooperative are the members who have equal voting rights. Each member has one vote.”

“Meeker cooperative has nine districts. The members of meeker cooperative vote to elect the director within their district. Directors elected from each district make up the governing body and serve the membership at large.”

“The voting members of the cooperative approve any amendments to the by-laws governing meeker cooperative. The governing body of the cooperative adheres to this governing document.”

“The cooperative did not have any committees with the authority to act on behalf of the board of directors. The entire board of directors is essentially the committee.”

“A complete copy of the 990 is presented to the board of directors at a regularly scheduled board meeting. The document is accepted by the board of directors. The 990 is then filed. The form 990 is also reviewed by the ceo and the financial manager.”

“The conflict of interest policy is reviewed annually. Annually, the board of director completes and signs a conflict of interest certification and disclosure form.”

“Ceo job performance appraisal and compensation is reviewed annually. Each director evaluates the ceo individually based on eight criteria. Individual appraisals are compiled into a final appraisal which is then covered with the ceo. The nreca compensation survey is analyzed and used to make comparative salary adjustments.”

“The bylaws are available on meeker cooperative's website. The annual financial statement is presented at the annual meeting to the membership. Governing documents, financial statements, policies and form 990 are available upon request to the public.”

“Officer and director compensation reported on part ix, line 5 does not equal the total compensation reported on part vii, line 1b for these individuals. The difference of $39,973 is due to the difference between the current year contributions (a current year expense) and the increase in acturial value. The increase in actuarial value is not a current year expense, but is reported as compensation for purposes of part vii. Included part vii, column "f", other compensation, is the estimated annual increase in the actuarial value of the defined benefit plan. For the following individuals, the estimated increase is: timothy n. Mergen: $82,200 kristin a. Dolan: $17,409 this amount is an estimate of the increase of the value of the plan and is not a current year expense of the cooperative. Current year contributions into the defined benefit plan were as follows: timothy n. Mergen: $40,375 kristin a. Dolan: $19,261 the amount is included in the above estimated annual increase in the actuarial value of the defined benefit plan.”

“As required by form 990 instructions, form 990, part ix, line 4 (benefits paid to or for members) includes patronage dividends paid. This amount is an expense for purposes of form 990, but is not recognized as an expense under g.a.a.p. Reporting requirements, which are used for book income. The result is a book to tax difference which is disclosed on part xi and on schedule d parts xi and xiii. In reference to part ix, line 4, the cooperative has interpreted "patronage dividends paid" as capital credits allocated to members under the preexisting obligations pursuant to the bylaws of the cooperative.”

“Retirement of capital credits -640,997. Capital credit class b 422,075. Donated capital -8,426. Book/tax difference from k-1's 6,876. Patronage capital retirement -49. Allocated capital credits 1,137,576.”