Ds&O Electric Cooperative Inc

“The number of trustees was officially changed to 9 from 10 through member ballot approval. There are 3 districts with 3 trustees from each district. The vote was certified in November 2023 and becomes effective April 1, 2024”

“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 cooperatives 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 Cooperative 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 and the Board Members complete a conflict of interest form for compliance purposes.”

“The Board of Directors uses compensation survey data to determine compensation of the organizations officers, as well as the CEO.”

“The Board of Directors uses compensation survey data to determine compensation of the organizations officers.”

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

“Margins Assigned to Members $ 1,750,515Gain on Retirements $ 122,208Other Changes $ 7,983FEMA/KDEM Grant $ -132,175Retirement of Capital Credits $ -352,315 Total $ 1,396,216”

“Form 990, Part IX, Line 4The instructions to the 2023 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, 2023.”

“The Financial Statement year end differs from the tax year end. The Cooperative receives an annual audited financial statement for the year ending April 30.”