Rolling Hills Electric Cooperative Inc

“Rolling hills 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 membership.”

“Goverance decisions such as amending bylaws, electing board of trustees, and self-regulating are reserved to members.”

“The accountant completes the form 990, with the assistance of an accounting team, and reviews the form 990 with the general manager prior to filing.”

“The cooperative monitors and enforces compliance of the conflict of interest policy through discussion or confrontation.”

“The board performs an annual review of the compensation for both the cooperative's officers, as well as its ceo.”

“The board performs an annual review of the compensation for both the cooperative's officers, as well as its ceo.”

“Rolling hills electric cooperative's governing documents, conflict of interest policy and financial statements are available to the public upon request at the main office in beloit, kansas.”

“Rolling hills electric cooperative is a member-owned electric cooperative providing 6,580 members service to 11,200 meters in parts of 16 northern and north central kansas counties. Its nearly 50 employees maintain and operate appoximately 6,400 miles of line. Rolling hills is governed by a volunteer board of trustees that is elected by fellow members of the cooperative. Rolling hills has 10 trustees in the cooperative who have been asked to dedicate their time and energy to the direction of the cooperative. Trustees bring a variety of skills and experiences to the board room. Education is a core tenet of the cooperative business model and on-going director education is encouraged to further enhance utility knowledge and board skills. Trustees do receive compensation for their monthly board meetings at the local level. Rolling hills meets during times that could be productive for employed or self-employed individuals, trustee compensation, often referred to as per-diem, is paid for the day of the meeting. Trustees are not additionally compensated for the extensive work in advance of a board meeting to study materials and be an effective representative of the membership. Trustees will aslo receive per-diem to fulfill educational expectations and for other important industry meetings.”

“Form 990, part ix, line 4 the instructions to the 2020 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, 2020.”

“Margins assigned to members 1,976,271 capital credit gains 22,126 retirement of capital credits -507,398 decrease in memberships -700 total 1,490,299”