Doniphan Electric Cooperative Assoc

“In 2021, The Cooperative entered into an agreement with Brown-Atchison Electric Cooperative to pay for management services provided by Michael Volker. The agreement was renewed in 2023.”

“Doniphan Electric is a Cooperative and has Members.”

“Any change to the Orgnaization or Board Position is put to the vote of the Members.”

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

“Form 990 is examined by the Manager and Board of Trustees prior to submittal.”

“The Manager and Board of Trustees are always aware of any changes that occur and and monthly Board Meetings are held, as well as any additional meetings, if necessary.”

“Every year the Board of Trustees meet with the Manager who in turn takes wage figures to the Board for use in the Pay Scale. The Manager and Board determine the Per Diem and Milage rate at the beginning of each year or as set by the IRS.”

“The process for determining compensation of the organizations officers or key employees is undertaken as part of the general review of other Cooperative data.”

“All documents such as Policies and Financial reports of Doniphan Electric are available upon request for inspection at the Office located in Troy, Kansas.”

“Current Year Margins Assigned to Members $ 314,661Other Changes $ 49,664Retirement of Capital Credits $ -254,435 Total $ 109,890”

“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.”

“Form 990, Part XII, Line 2Doniphan Electric Cooperative Associations financial statement year end differs from its tax year end. The Cooperative receives audited financial statements on an annual basis for the year ended May 31st.”