Cobb Emc Community Foundation Inc.

“The foundation receives in-kind donations of labor and related expenses from cobb electric membership corporation (cobb emc), an affiliate of the foundation. Contributed services totaled 61,347 and 41,667 for the years ended december 31, 2022 and 2021, respectively. Since cobb electric employees provide all of the foundation's accounting and administrative functions, the foundation has not adopted whistleblower or document destruction and retention policies. Employees that provide services to the foundation follow those policies as adopted by the cobb emc board of directors.”

“Bylaws article vi - selection of foundation board each member of the cobb emc board shall appoint a foundation director to the foundation board. Thereafter, when vacancies on the foundation board require filling or when individual foundation directors' terms expire, the cobb emc director who appointed such member shall fill such vacancy. The existing foundation board may make recommendations to the cobb emc board for nominees to the foundation board.”

“Form 990 is reviewed by the board with all supporting documentation made available to them.”

“The foundation regularly and consistently monitors and enforces compliance with its conflict of interest requirements as prescribed by article xvii of its bylaws and its conflict of interest policy, both of which are included as a part of this return.”

“The foundation makes its bylaws and financial statements available to the public as part of its form 990. The form 990 is available upon request as reflected in part vi section c line 18.”

“The foundation's board of directors receive meeting per diems which are paid by cobb emc. Cobb emc reports the amounts on form 1099 under cobb emc's ein when the 1099 reporting threshold is met. Cobb emc foundation did not issue any 1099s during the years ended december 31, 2022 and 2021. The form 990 instructions require the reporting of all board members that served on the board during the year be reported as "current". As a result, 12 board members are reported for the purposes of part vii, but only 9 members were serving as of december 31, 2022, in accordane wiht the bylaws.”

“The purpose of the foundation will be to accept and disburse funds for charitable purposes in the service area of cobb electric membership corporation (cobb emc). Upon dissolution of the foundation, any remaining funds will be distributed only for charitable purposes.”

“Website: https://www.cobbemc.com/content/cobb-emc-community-foundation”

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