Middle Georgia Electric Membership Corporation

“The cooperative has a agreement with ideal maintenance services, llc (ims) to provide j.r. Nichols to serve as the cooperative's president/ceo. The cooperative paid ims 180,720 for services provided in 2024.”

“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 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/ceo is reviewed and approved through the use of compensation survey information of other cooperatives and a performance review conducted by the member-elected board.”

“Compensation for key employees is reviewed and approved through the use of a performance review conducted by the president/ceo.”

“The cooperative 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 records are maintained in accordance with the uniform system of accounts prescribed by the federal energy regulatory commission (18cfr.part 101) as modified and adopted by the rural utilities service (rus) in 7.cfr.1767. Those practices utilize 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 part ix of the form 990 in the same manner it reports its financial results to lenders, regulators and its member-owners.”

“Patronage capital credits 0 patronage capital credits 3,862,236 donated capital 118 membership fees -3,215 capital credit retirements -144,984 other -692 total 3,713,463”