Craig-Botetourt Electric Cooperative

“Craig-botetourt electric is an electric distribution system. Each prospective consumer/member requesting electric service shall sign the cooperative's application for membership and supply the cooperative with such credit references as may be requested. There is a membership fee of 5.00.”

“Each consumer/member is afforded one vote annually in the election of specified board seat.”

“In accordance with the cooperative's bylaws, the decision to dissolve the cooperative would be subject to approval by members.”

“After there has been sufficient time for the board members to review the 990, the cpa firm that prepared the return is available as necessary to discuss the form 990 and anwser any questions.”

“All board members and management are required to sign a statement revealing any conflict of interest or the absence thereof. The statements will be signed annually.”

“The cooperative focuses on comparable electric cooperatives in the nation, region, and state to benchmark ceo compensation. Salary information from several compensation surveys may be used. In addition, the board may engage an independent qualified professional consultant to recommend compensation or levels (range), and document and follow those recommendations. Compensation will be based on an analysis of consultant recommendations and comparison of compensation received by executives at comparable organizations that are reasonable with respect to the organization's revenues, assets, and complexity. Finally, executive compensation will be tied to the accomplishment of organizational and executive performance goals.”

“The cooperative makes its governing documents available on the cooperative's website. The financial statements are published in cooperative living. The cooperative's conflict of interest policy is made available to members upon individual request. These items mentioned above are not ordinarily made available to the public with the filing of irs form 990 and the required filings with rural utilities services in washington, d.c.”

“Form 990 part ix line 4 - benefits paid to members patronage dividends paid to members' accounts in accordance with the pre- existing obligation in craig-botetourt 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.”

“Ciac -150,844 patronage allocations 5,394 benefits paid to members 133,512 net decreases in memberships -30 net retirement of capital credits -1,307,871 total -1,319,839”