Pee Dee Electric Cooperative Inc

“The cooperative has members as provided for in its bylaws which are included as a part of this return.”

“The cooperative has members who elect fellow members of the governing body as provided for in its bylaws which are included as a part of this return.”

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

“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 their conflict of interest policy as provided for in its policy which is included as a part of this return.”

“Compensation for the president and ceo is approved through the use of a systematic wage and salary plan as well as a performance review conducted by the member-elected board.”

“Compensation review and approval for other key employees is conducted by the president and ceo within the limitations of the wage and salary plan and policy and budget approved by the member-elected board.”

“The cooperative makes its bylaws, conflict of interest policy, and financial statements available to the public upon request along with its 990 as reflected in part vi section c line 18.”

“Part v, line 3a - the corporation filed form 990-t for the year ended december 31, 2018, although they did not have any gross revenue from an unrelated business activity. The filing requirement for form 990-t was a direct result of irc section 512(a)(7), which requires tax-exempt organizations to increase their ubti by the amount of employee parking expenses that would be nondeductible if they were subject to the same deduction disallowance rules as taxable entities.”

“Patronage capital credit retirements 126,691 membership fees 15 other comprehensive income -282,958 patronage capital credit retirements -3,238,943 patronage capital credits 5,382,772 regulatory liability - asc 980 -1,500,000 total 487,577”