Sac Osage Electric Cooperative Inc

“The Cooperative is a not-for-profit membership organization whose members have identical voting rights in accordance with the Cooperatives bylaws.”

“All Board Members are elected by the membership.”

“Members must approve all changes to the bylaws, as well as the sale of a substantial amount of assets.”

“The Form 990 is reviewed by the Finanacial and Administrative Manager and General Manager; then signed and filed. The filed 990 and 990-T are reviewed by the Board at the next board meeting.”

“No known conflicts of interest have been discovered. If there had been conflicts, the organization would have an appropriate review, and action would be taken if necessary.”

“The Board, in executive session, determiens the top Officials compensaton. The board then records the decision in the minutes and later approves the minutes.”

“The Board, in executive session, determiens all non-union management personnels compensaton. The board then records the decision in the minutes and later approves the minutes.”

“Bylaws are offered to all new members. All other documents are available at any time upon request or can be found on the cooperatives website.”

“Current Year Margins Assigned to Members $ 4,634,903Other Changes $ 54,819Retirement of Capital Credits $ -1,026,268Total $ 3,663,454”

“Form 990, Part IX, Line 4The instructions to the 2024 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, 2024.”