Coosa Valley Electric Cooperative Inc

“The Organization is a member-owned electrical co-op under section 501(c)(12).”

“Members have voting rights in accordance with the bylaws.”

“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.”

“A copy of the Form 990 is provided to the organization's governing body before it is filed. The governing body reviews the return and reconciles the amounts presented to the audited financial statements. Once the organization's governing body is satisfied that the amounts presented reconcile appropriately, the return is approved by the organization's governing body for signature and mailing.”

“The organization's financial statements are made available to the public upon request.”

“Amending the original return to include the amount of deferred compensation for officers and highest compensated employees. The original total of $8,176 has been corrected to a total of $404,625, and Schedule J, Page 2 has been updated to reflect this change.”

“The instructions to the Form 990 indicate that organizations exempt under Section 501(c)(12) should report "patronage dividends paid" to their members in Part IX, Line 4 of the Form 990. Coosa Valley Electric Cooperative has interpreted the words "patronage dividends paid" in the instructions to mean margins that are assigned or assignable to the members. Coosa Valley Electric Cooperative assigns the net margins to its members each year. Therefore, the amount listed in Part IX, Line 4 represents the net margins assigned to the members for the fiscal year.”

“Amending the original return that omitted the breakout of compensation of officers, directors, trustees, and key employees. The corrected total is $697,935.”

“Amending the original return that omitted the breakout of compensation of officers, directors, trustees, and key employees. The corrected total is $4,881,155 and the correct amount of $697,935 was reclassified as compensation on Part IX, Line 5.”

“Changes in membership 1,230. Capital credit gains 170,596. 4% refund allocation 24,675. Margins assigned to members 6,187,674. Equity earnings of subsidiaries -1,449,830. Retirement of Capital Credits -435,549.”