United Electric Cooperative Inc

“United Electric Cooperative, Inc. is a member owned cooperative.”

“Each member of the Cooperative is entitled to vote in the election of the Board of Directors.”

“Members of the Cooperative are responsible for ratifying any by-law changes.”

“The Chief Executive Officer and Chief Financial Officer review the Form 990 prior to it being filed. The Board then reviews the annual filings at monthly meetings.”

“The Cooperative monitors and enforces compliance with the conflict of interest policy through an annual internal review.”

“The Board of Directors reviews and approves the compensation of the Chief Financial Officer annually. The Board, as well as management, also reviews and approves compensation annually for all of the organization's officers.”

“Bylaws are offered to all new members; all other documents are available at any time upon request.”

“The instructions to the 2018 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 the 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, 2018. For 2017 margins retired were used rather than margins assigned.”

“Retirement of capital credits -861,210. Change in Other Comprehensive Income -252,017. Changes in membership -1,620. Margins assigned to members 1,223,767. Unallocated Subsidiary Profit/Loss -397,893. Donated Capital -360. Retired Capital Credit Gain 25,498.”