Pickwick Electric Cooperative

“Any natural person, firm, association, corporation, cooperative, government entity etc. Shall be eligible to become a member to receive electric service”

“Each member shall be entitled to only one vote in a district meeting to decide the board of directors. The members vote in their respective districts for one of the nine board of director positions.”

“A copy of the form 990 was provided to the president and management for review before it was filed. A copy was then provided to the board of directors for review the month that it was filed.”

“All key employees and members of the board are required to disclose all conflict of interest issues to the organization. No board of director shall remain in that capacity if he or she is a close relative of another director or employee, has a financial interest in a competing enterprise, or a business selling supplies to the cooperative.”

“The president's compensation package is reviewed and approved annually by the board of directors. Comparability data, surveys and industry standards were used in the decision process.”

“Pickwick electric cooperative's governing documents and conflict of interest policy are detailed in the organization's by-laws. The by-laws are available to the public at the main office, district meetings, annual meeting and on the organization's website. The annual financial statement and independent audit report are available to the public upon request and in the tennessee magazine which is mailed to all members of the cooperative.”

“We submitted the original FORM 990 within the filing deadline. However, the only change made was for the title of board of directors on Part VII due to director realignment. No other data has been changed.”

“Two prior period adjustments were made based on our external independent auditors in the amount of 298,812 and 65,943. Also, an increase in memberships was realized in the amount of 885. These three items constitute the line 9 amount of 231,984.”