Virginia Maryland and Delaware Association of Electric Cooperatives

“Virginia, maryland and delaware association is a non-stock corporation, with 15 members.”

“The board of directors is comprised of representatives from each of the members of the organization.”

“A final draft of the 990 is provided to the board of directors for review. The 990 is reviewed by an officer of the organization before filing with the irs.”

“The conflict of interest policy is included in the company's code of ethics. General counsel serves as the compliance officer to administer the code of ethics. When contacted, the compliance officer is obligated to record any report alleging a violation of the code and to take effective steps to investigate such report. Periodically, as determined and requested by the president/ceo, the compliance officer will submit a memorandum outlining the complaints he has received for that period, the results of all investigations, and recommendations for remedial action.”

“General philosophy our compensation philosophy has four objectives: 1)attract and retain a qualified, diverse workforce through a competitive compensation program; 2)provide equitable and fair compensation; 3)support our business strategy; and 4)ensure compliance with applicable laws and regulations. Targeted overall compensation our compensation program utilizes accurate, detailed job descriptions for all of our employees, including senior management with the exception of the ceo, as an instrument to establish benchmarked positions. The market compensation information for each position is derived from salary data provided by third parties through national surveys and includes salary data for positions within the determined competitive labor market. Our job descriptions are reviewed annually and include essential and non-essential responsibilities, required knowledge, skills and abilities, formal education and experience necessary to accomplish the requirements of the position which in turn helps us achieve operational goals. Utilizing this information, our human resources department determines a market-based salary for each position based upon salary survey data provided by third parties. A third-party consultant reviews the market-based salary data we compiled for reasonableness and fairness annually. Our board of directors has defined market-based salary as approximately 95% to 100% of the 50th percentile of the market, excluding new hires that may be hired at 90% of the 50th percentile of market until a learning period is complete. The ceo also serves as the ceo of old dominion electric cooperative, an unrelated organization. As a result, we pay a portion of the ceo's base compensation via a management services contract. The board of directors approves the ceo's compensation.”

“The organization makes its governing documents, conflict of interest policy and financial statements available upon request.”

“Book/tax difference in virginia capital llc -911.”