A & N Electric Cooperative

“A & n electric is an electric membership corporation that delivers electricity to the members of the cooperative. The members elect the board of directors, which is the governing body of the cooperative.”

“All members of a & n electric cooperative receive one vote with respect to selecting the cooperative's board of directors.”

“Certain decisions of the governing body are subject to approval by the members as provided for in the cooperative bylaws.”

“The cfo and ceo review a draft of the 990. They then present a copy of the 990 to the board of directors for review, discussion and approval prior to filing with the irs.”

“According to the coop's conflict of interest policy each director, officer, and key employee must annually complete and sign a conflict of interest certification and disclosure form. In addition, the governing board's legal counsel must annually review this policy with all officials.”

“Periodically the coop has an outside consultant review the range of compensation at the cooperative compared to industry ranges. The national rural electric cooperative association annually publishes a salary survey that is also used as a benchmark for compensation. The board of directors approves the salary of the ceo.”

“Periodically the coop has an outside consultant review the range of compensation at the cooperative compared to industry ranges. The national rural electric cooperative association annually publishes a salary survey that is also used as a benchmark for compensation. The board of directors approves the salary of the officers and key employees.”

“New members get a copy of the by-laws when joining the cooperative. Year end financial information is published in the cooperative's monthly magazine. In addition, the financial results are made available to the members at the annual meeting. This information is also available on the cooperative's web site. The 990 is available upon request.”

“990 part vii section a column f: the cooperative participates in the nreca group defined pension plan. As part of this plan, participants are required to recognize the actuarial increase in the value of their account on the form 990. The contribution rate for participants in the plan is the same for all individuals in the plan. The change in actuarial value for each participant, however, varies with age. In other words, the older a participant is, the greater the increase in that individual's change in actuarial value with all other things being equal.”

“Form 990, prt. I line 14 & prt ix, line 4 benefits pd. To or for mbrs.: patronage dividends are credited to members' accounts in accordance with the pre-existing obligation in a&n electric cooperative's by-laws. The cooperative is obligated to pay by credits to a capital account for each patron all such amounts in excess of operating costs and expenses. Irs instructions for line 4 changed in 2011 to include patronage dividends paid by section 501(c)(12) organizations to their members. Accordingly, these amounts are now reported on line 4.”

“Noncash pat capital alloc not rev per irs 658,463 patronage div paid to members not exp per gaap 4,401,034 net change in memberships 1,640 ciac not revenue per gaap -672,241 net retirement of capital credits -2,312,964 total 2,075,932”