Yazoo Valley Electric Power Association

“Because yazoo valley electric power association is chartered and incorporated under mississippi law as a not-for-profit cooperative, each entity receiving power from the association is a member.”

“At each annual meeting of the members, not more than three of the total number of directors shall be elected by ballot, by and from the members, to serve for a term of three years as provided by law. If the election of directors shall not be held at the annual meeting or if such annual meeting is not held, each director shall hold office until his successor has been elected and qualified.”

“The business and affairs of the organization are managed by the board of directors, which exercises all of the powers of the organization, except by law, or by certificate of incorporation, or by the bylaws reserved for the members. The association's bylaws include provisions for certain situations, such as the sale of the assets of the association, which require membership approval rather than board approval.”

“Once the form 990 is complete, the board of directors will review the form at the following monthly board meeting. At this time, any questions pertaining to the form 990 are answered. Once approved, the form 990 is signed and the return is filed with the internal revenue service.”

“The association has a board policy name "yazoo valley electric association conflict of interest policy", related to directors, officers and key employees. Additionally, on an annual basis, each director, officer and the five highest compensated employees are required to complete and sign a questionaire regarding grants, business relationships with the cooperative, director independence, relationships with other officers, directors, and key employees as well as the compensation from related organizations. During 2016, the association began a policy requiring a conflict of interest questionaire to be completed by all employees on an annual basis. The documents are reviewed by the general manager for potential conflicts of interest.”

“The compensation of the general manager is set and approved by the board of directors.”

“The governing documents, conflicts of interest policy and financial statements are available to the members of the association upon request.”

“Part xi, line 4- amounts entered present capital credits allocated to members for 2024, not capital credits retired. The actual retirement amount was 1,741,810. Part ix, salaries, benefits, and payroll taxes- the organization is required to follow regulated accounting procedures. Compensation is allocated to plant and expenses based on employee time records. Compensation for officers and hce's have been presented. All other compensation has been presented in categories where it was allocated under the above mentioned regulations.”

“Donated capital 272,767 increase in membership 546 allocation of margins to members 2,434,494 retirement of capital credit -1,741,810 total 965,997”