D S & O Electric Cooperative Inc

“DS&O Electric Cooperative, Inc. is a not-for-profit membership organization whose members have identical voting rights and are assigned margins in accordance with the cooperative's bylaws.”

“All Board members are elected by the general membership.”

“Governance decisions, such as amending bylaws, are reserved to members only.”

“The CEO and CFO review the Form 990. The Form 990 is also sent to all Board members for their review.”

“The corporate attorney presented a session on the conflict of interest policy and what should be reported. He asked the Board members if there was anything they needed to report at that time.”

“The Board of Directors uses compensation survey data to determine compensation of the organization's officers, as well as the Chief Executive Officer.”

“Bylaws are offered to all new members; all other documents are available at any time upon request or on the cooperative's website.”

“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.”

“Net Margins Assigned to Members 1,688,399. Change in memberships -1,370. Retirements -349,549. Gain on retirements 155,223. Other Changes 9,275.”

“DS&O Electric Cooperative, Inc.'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 April 30th.”