Jackson Energy Cooperative

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

“Nominating committee meets every year to select candidate to run for board position. A member may, upon obtaining 500 written member names, run for a board position.”

“Articles of incorporation may be altered, provided that notice of the meeting shall have contained a copy of the proposed alteration, amendment, or repeal.”

“Directors are furnished a draft copy of the 990 for review prior to filing. May make inquiries of information contained in the return. Directors also meet with the independent auditor in a closed session and are able to make additional inquiries at that time.”

“The governing body and key employees are aware of the issues involving the appearance of, and conflicts of interest and family and business relationships, and the need to disclose these relationships, if applicable. There are ongoing discussions with the governing body and key employees regarding related party transactions. There is an annual review by the independent auditor and an annual review by the cooperative's attorney.”

“The board annually evaluates the performance of the president/ceo; raises are determined by the summation of the 9 evaluations. In addition, the statewide association of electric cooperatives performs an annual comparative survey of all positions and salaries, including the president/ceo and director compensation, which the board reviews. The national organization of electric cooperatives, nreca, also publishes national compensation surveys which are used for review by the board. The board receives data from local, state, and national surveys. The board uses this data, along with a performance review, to set compensation. The board has used, and occasionally does, use an independent human resource consultant to review the compensation process.”

“The organization makes form 990 available to the public upon request.”

“By-laws are given to each new member and financial statements are given to each member on an annual basis. Annual meeting of members is held each year.”

“Patronage capital allocated to members 8,428,200. Comprehensive income post retirement ben. 201,600. Memberships issued 760. Other equities -54,340. Refund of capital credits -527,968.”

“The organization has a committee that assumes responsibility for oversight of the financial statement audit. The process for the oversight of the audit has not changed from the prior year.”