Cooperative Telephone Company

“Classes of members or stockholders subscribers of telecommunications, video services, and internet (dial-up, dsl, and wireless) services are required to purchase a refundable $10 membership.”

“Election of members cooperative telephone company's members elect directors to the board of governance at an annual meeting.”

“Decisions subject to approval of members cooperative telephone company's members elect directors to the board of governance at an annual meeting. Members also must approve any significant decisions by the board that may arise affecting the governing documents and structures of the cooperative.”

“990 review process an independent accounting firm prepares and reviews the 990. The 990 is then reviewed by ctc management. Any questions or concerns are addressed and corrections or clarifications are made. The final 990 with all required schedules is then provided to all voting members of the board prior to filing.”

“Each director, officer, or member of a committee with governing board-delegated powers will disclose to the board any actual or potential conflict of interest he/she may have with respect to any matter put to a vote, and will not vote on any matter in which he/she has an actual or potential conflict of interest. A director, officer, or member of a committee has a conflict of interest if that person has, directly or indirectly, through business, investment or family: a. A substantial ownership or investment interest in any entity with which the cooperative has a transaction or arrangement; substantial means ownership of more than 10%. B. A compensation arrangement with any entity or individual with which the cooperation has a transaction or arrangement; compensation includes direct and indirect remuneration as well as gifts or favors that are not negligible. C. A potential ownership or investment interest in, or compensation arrangement with, any entity or individual with which the cooperation is negotiating a transaction or arrangement; d. An awareness that his or her spouse, or any of their parents, siblings or descendants are involved with an entity in any manner outlined in paragraphs (a), (b), and (c), or e. When, without regard to the foregoing standards, such director, officer or member of a committee reasonably believes his or her independent judgment is or might be impaired by an existing or potential conflict, financial or otherwise (i.e. Moral, ethical, etc.) this is handled on a case-by-case basis. The board of directors discuss at a meeting, what the conflict may or may not be, and determine from there if there is a conflict as listed in the by laws.”

“The general manager evaluates the compensation for all employees annually using an ntca compensation study, current cost-of-living and inflation data, as well as performance criteria to determine recommended increases for all employees. These recommendations are presented to the board for their evaluation, input and final determination. The board then uses that information to evaluate compensation levels for the general manager, and approves general manager compensation for the following year.”

“Governing document disclosure the governing documents and financial statements are made available upon request at the organization's office.”

“Change in membership fees 50. Patronage capital retired -32,971. Statutory surplus -3,190.”

“No change from prior year.”