Community Electric Cooperative

“Community Electric Cooperative is an electric cooperative that delivers electricity to the members of the Cooperative. The members elect the board of directors which serves as the governing body of the cooperative.”

“Members of the governing board are elected by the membership of the cooperative. The board has monthly meetings and an annual meeting that is open to the entire membership.”

“certain decisions of the governing board are subject to approval by the members as provided for in the bylaws.”

“Prior to filing the 990, the board of directors are provided with a copy of the 990 to review.”

“The President obtains the annual benefits and compensation survey for the VA, MD and DE Association of Electric Cooperatives to use as comparability data in reviewing key employee and top managements salary evaluations. The board of directors has a wage and salary committee that goes over recommendations provided by the president for key employees and top management as well as making recommendations for the presidents salary. These recommendations are taken to the full board for approval and subsequent implementation.”

“The Cooperative's financial information is published annually in the Cooperative Living Magazine. Copies of the audited financial statements are available at the Annual Meeting each year which is open to the entire membership. A copy of the 990 is available upon request.”

“The Cooperative's financial information is published annually in the Cooperative Living Magazine. Copies of the audited financial statements are available at the Annual Meeting each year which is open to the entire membership. When a member joins the cooperative, they are provided with a copy of the bylaws.”

“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.”

“CONTRIBUTIONS IN AID OF CONSTRUCTION not revenue per gaap = -$217882”

“Increase in memberships = $165”

“noncash patronage capital allocations not revenue per IRS = $194921”

“Prior year adjustment to patroange capital = -$531087”

“Retirement of Capital Credits = -$881420”

“Certain line items from the prior year have been reclassified to confirm to the current year allocation of revenues and expenses. The total of revenue less expenses remained the same.”

“PATRONAGE DIVIDENDS PAID TO MEMBERS' ACCOUNTS IN ACCORDANCE WITH THE PRE-EXISTING OBLIGATION IN Community ELECTRIC COOPERATIVE'S BY LAWS. THE CORPORATION IS OBLIGATED TO PAY BY CREDITS TO A CAPITAL ACCOUNT FOR EACH PATRON ALL SUCH AMOUNTS IN EXCESS OF OPERATING COSTS AND EXPENSES. IRS INSTRUCTIOONS 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.”