Halifax Electric Membership

“The cooperative has members as provided for in its bylaws, which are available on the cooperative's website. Each member has one vote.”

“The cooperative has members who elect members of the governing body as provided for in its bylaws, which are available on the cooperative's website.”

“Certain decisions of the governing body are subject to approval by members as provided for in its bylaws, which are available on the cooperative's website.”

“Form 990 is reviewed by the board with all supporting documentation made available to them.”

“The cooperative regularly and consistently monitors and enforces compliance with its conflict of interest policy.”

“Compensation for the ceo is reviewed and approved through the use of a performance review conducted by the member-elected board as prescribed by the cooperative's wage and salary plan.”

“Compensation for officers and key employees is reviewed and approved through the use of a performance review conducted by the ceo as prescribed by the cooperative's wage and salary plan.”

“The cooperative makes its bylaws available on its website. The cooperative's conflict of interest policy and financial statements are available to the public as a part of its form 990. The form 990 is available upon request as reflected in part vi, section c, line 18.”

“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.”

“To deliver exceptional value and service to our communities with care through providing our members with safe and reliable electric services, enriching our diverse communities through education, economic growth, and community involvement.”

“Form 990, prt. I line 14 & prt ix, line 4 benefits pd. To or for mbrs. Patronage dividends paid to members' accounts were done in accordance with the pre-eisting obligation in halifax electric membership'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 sections 501(c) (12) organizations to their members. Accordingly, these amounts are now reported on line 4.”

“Patronage div paid to members not exp per gaap 1,269,257 non cash patronage alloc not income per irs 452,411 ciac not inc per gaap -731,324 retirement of capital credits -352,507 decrease in memberships -445 total 637,392”