Escambia River Electric Coop Inc

“Escambia River Electric Cooperative, Inc. is a not-for-profit membership organization whose members have identical voting rights and are assigned margins in accordance with the cooperative's bylaws.”

“The members of Escambia River Electric Cooperative, Inc. may elect one or more members of its governing body at the annual meeting.”

“The membership must approve decisions that involve substantial transfers of cooperative assets, amendments to the cooperative's bylaws, as well as other decisions requiring approval of the membership by law, the articles of incorporation, and/or the cooperative's bylaws.”

“The accounting staff at Escambia River Electric Cooperative, Inc. conducted an extensive review of the Form 990 before it was presented to the board of trustees. Prior to filing the Form 990 with the Internal Revenue Service, the General Manager attended a board meeting, provided the trustees with a copy of the Form 990, and conducted a formal review of the Form 990 with the trustees.”

“Each year, the trustees and key management employees receive a questionnaire to be completed and returned regarding this policy. The Director of Finance ensures that the questionnaires are returned and reviewed.”

“The organization participates in a national salary and benefit survey among the rural cooperatives. The results of the survey are presented by Management annually to the organization's governing body for review. The members of the governing body then discuss the results of the survey and make a decision regarding the compensation of the officers as well as other employees. This process is reflected in the minutes of the Board of Trustees' meeting.”

“Escambia River Electric Cooperative's governing documents, conflict of interest policy, and financial statements are available to the public upon request at the cooperative's main office located in Jay, Florida.”

“The instructions to the Form 990 indicate that organizations exempt from tax under Section 501(c)(12) should report patronage dividends paid to their members in Part IX, Line 4 of the Form 990. Escambia River Electric Cooperative has interpreted the words "patronage dividends paid" in the instructions to mean margins that are assigned or assignable to the members. The amount reported on Part IX, Line 4 of the Form 990 represents the portion of the net margins assigned to members for the year.”

“Increase in Memberships 1,520. Assignment of Margins 2,304,633. Current Year Subsidiary Income - Equity Method 66,380.”

“Escambia River Electric Cooperative, Inc. did not change its processes of oversight and selection for the year.”