Inter County Energy Cooperative Corporation

“Must be a member to receive electric service. Each member has 1 vote. May have more than 1 service per membership.”

“The "Credentials and Elections Committee" meets every year there is an election to verify qualifications and certify candidates for election to the Board of Directors. All Board candidates, including incumbents, must obtain a petition signed by 25 or more eligible members and present those to the "Credentials and Elections Committee". Directors are elected at the annual meeting of members.”

“Articles of Incorporation can only be changed by a majority vote at a meeting of members at which a quorum is present. By-Laws may be altered, amended, or repealed at any regular or special meeting of the Board of Directors with a majority vote.”

“Directors are furnished a draft copy the Form 990 prior to filing for review and changes as needed.”

“Directors and key employees annually complete questionnaire on family and business relationships.”

“15a. Board annually evaluates the performance of the Pres/CEO and sets compensation using data supplied by state and national organization surveys of electric cooperatives.15b. Outside consultant provides market research data on each position based upon job descriptions. Usually, an average is taken for at least 2-3 results. The market value becomes the "target" for each position. Whether an employee receives a market adjustment depends upon their performance appraisal results. The Board reviews and approves the study.”

“Articles of Incorporation and Bylaws are given to each new member. Bylaws are published annually in magazine distributed to each member. Financial statements are available on the Kentucky Public Service Commission website, are published annually in magazine distributed to each member and are given to each member that attends the annual membership meeting. A copy of the Form 990 is displayed in the lobby of each office. In addition, anyone may request a copy of the filing.”

“Comprehensive income-postretirement ben = $72000”

“Margins allocated to members = $4896255”

“Memberships issued = $4550”

“Other equities = $466779”

“Refunds of capital credits = -$1046088”

“Represents patronage capital allocated to members in accordance with the bylaws of the Cooperative. This reporting results in a difference between book income and income reported on the Form 990 by the same amount.”