South River Electric Membership Corporation

“The cooperative has members as provided for in its bylaws. A copy of the bylaws is included as part of this return.”

“The cooperative has members who elect members of the governing body as provided for in its bylaws. A copy of the bylaws is included as part of this return.”

“Certain decisions of the governing body are subject to approval by the members as provided for in the cooperative's bylaws which are included as part of this return.”

“Form 990 is reviewed by the full board each year prior to filing.”

“The cooperative regularly and consistently monitors and enforces compliance with its conflict of interest policy (policy 615-attached). In addition, the following policies which are included as part of this return are enforced to complement policy 615: 309, 310, 321, 616 and 620.”

“A compensation plan is developed and presented to the board of directors for approval by a third party independent consulting group. The board of directors reviews and approves the compensation plan for the ceo as provided for in the cooperative's policy 602, which is included as part of this return.”

“A compensation plan is developed and presented to the board of directors for approval by a third party independent consulting group. Once the plan is approved by the board of directors, the compensation process for officer and key employee compensation is reviewed and approved by the ceo, as delegated under the authority of board policy 610, which is included as part of this return.”

“The cooperative makes its bylaws, conflict of interst policy and financial statements available to the public upon request in accordance with board policy 606 which is included as part of this return.”

“South river electric membership corporation (south river) is a premier locally-owned and operated electric cooperative with a mission to provide safe, reliable, competitively-priced electricity. South river is committed to achieving excellence and empowering its members. South river is dedicated to high standards of performance and integrity. The cooperative's number one priority is its members.”

“Benefits paid to members 14,749,624 permanent equity 1,521,842 capital credit retirements -5,837,158 decrease in membership fees -2,240 other comprehensive income -27,300 asc 980 deferred revenue -6,438,649 total 3,966,119”