Three Notch Electric Membership Corp of the USA

“Individuals and entities requesting service are required to pay a one-time membership fee.”

“The corporation has nine members of its board of directors. A board election is held annually in conjunction with the corporation's annual member meeting. The members are the only ones allowed to vote in the annual election of board members.”

“Certain decisions, such as by-laws changes, must be approved by the members.”

“Form 990 was reviewed with the board of directors and certain members of management by the certified public accounting firm that prepared the form 990.”

“An annual disclosure of any conflicts of interest is required by all officers, directors and key employees, and the board of directors reviews the disclosures.”

“The general manager's annual compensation is based on various criteria that are reviewed by the board of directors in approving such compensation. Annual compensation for certain other employees is initially set by the general manager and is then subject to the approval of the board of directors.”

“Such information is available to the public upon receipt of a reasonable request.”

“The $963,803 of government grants represents income from forgiveness of the Corporation's Paycheck Protection Program (PPP) loan. The PPP loan was forgiven by SBA in November 2020.”

“Consumer accounts 1,073,783.”

“Benefits paid to members 4,719,770. Increase in memberships 740. Retirement of members' patronage capital -384,701. Increase in other equities 1,043. Other comprehensive loss -306,941. Difference in book and tax income for sowega energy resources, llc -134,376.”

“The board of directors and its designees assume responsibility for oversight of its financial audits and the selection of its independent auditors. The annual audit is performed on a calendar year basis. This process has not changed since the prior year.”