Black River Electric Cooperative

“Black river electric cooperative is a member owned cooperative.”

“The organization has members who elect the members of the governing body.”

“The decisions of the governing body are subject to the members.”

“The form 990 is reviewed by the organization prior to filing.”

“Management is responsible for enforcing policies and is proactive in doing so. In addition, all employees are encouraged to report potential violations of policy as well as any issues where policy application questions arise to management.”

“Ceo compensation is deliberated and established by the board of directors.”

“Governing documents are available upon request to the ceo and at the annual membership meeting.”

“Form 990, part ix, line 4 the instructions to the 2020 form 990 indicate that organizations exempt under section 501(c)(12) should report "patronage dividends paid" to their members in part ix, line 4 of form 990. The cooperative has interpreted the words "patronage dividends paid" in the instructions to mean margins that are assigned or assignable to the members. The cooperative assigns the net margins to its members each year. Therefore, the amount listed in part ix, line 4 represents the net margins assignable to the members for the calendar year ended december 31, 2020.”

“Net margins assigned to members 2,626,108 increase in memberships 8,125 retirement of capital credits -1,486,754 other changes -85,022 deferred revenue -500,000 total 562,457”

“Form 990, part xii, line 2 black river electric cooperative's financial statement year end differs from its tax year end. The cooperative receives audited financial statements on an annual basis for the year ended march 31st.”