Cobb Electric Membership Corp

“Part vi, section b, line 13, whistleblower policy: cobb emc's whistleblower policy is documented in board policy 915. A copy of the policy is attached to this return. Part vi, section b, line 14, document retention and destruction policy: cobb emc's records retention policy is documented in board policy 701. A copy of the policy is attached to this return. The board of directors has adopted board policy 608-corporate committee structure to more clearly define the duties and responsibilities of all committees of the board of directors. A copy of that policy is attached to this return. The corporation contemporaneously documents the meetings held and actions undertaken by the full board of directors, as well as its committees.”

“As a rural electric cooperative, cobb emc is subject to an 85/15 member income test annually. The 85/15 member income test requires cobb emc's gross receipts from members to equal or exceed 85 percent of all gross receipts, with certain exclusions. The test must be performed annually. In years where cobb emc passes the 85/15 member income test, it retains its tax exemption under section 501(c)(12) of the internal revenue code. In years that cobb emc does not pass the test, cobb emc is designated as a nonexempt cooperative. Cobb emc's filed its last 990 in calendar year 2022. Cobb emc updated amended its bylaws in 2023. A copy of the amended bylaws is attached to this return.”

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

“The corporation's members democratically elect members of the governing body as provided for in the corporation's bylaws which are included as part of this return.”

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

“Form 990 is reviewed by the full board of directors prior to submittal.”

“The corporation regulary and consistently monitors and enforces compliance with the following policies, which are included as part of this return: policy 602 - conflict of interest policy 901 - employee code of conduct policy 911 - employees' outside activities”

“As outlined in board policy 608, which is attached to this return, the annual ceo review is conducted by the board's human resources committee, which makes a compensation recommendation to the full board for their approval.”

“Key employee compensation is reviewed and approved as provided for in board policy 908, a copy of which is included as a part of this return.”

“The corporation makes its bylaws, conflict of interest policy, and financial statements available to the public as part of its form 990. The form 990 is available upon request as reflected in part vi section c line 18. The corporation's annual report is available on it's website. Audited financial statements and other financial information is available to the corporation's members through the member portal.”

“The corporation elects its board officers annually. The officers listed on part vii were serving in that capacity as of december 31, 2024. Board officers which served in 2023-2024 were as follows: chairman - rudy r. Underwood vice chairman - eric broadwell secretary/treasurer - william c. Sharp, iii”

“Cobb emc commits to safely delivering reliable, competitively priced electricity while being accountable to our member-owners through sound governance, management, operating practices and improving quality of life in our local communities.”

“The corporation's records are maintained in accordance with the uniform system of accounts prescribed by the federal energy regulatory commission (18cfr.part 101). Those practices utilize allocation of certain expenses based on labor charges or other allocation bases. As a result, it would require significant effort to break out expenses in the functional categories provided for on the statement of functional expenses. Management has opted to classify its expenses on the statement of functional expenses in the same manner it reports its financial results to lenders and its member-owners.”

“Wholly-owned subsidiary earnings 120,129,308 change in donated capital 37,489 patronage capital credits 6,201,976 other 186,708 change in membership fees -13,485 retirement of patronage capital -13,907,489 total 112,634,507”