Indian Electric Cooperative Inc

“MEMBERS”

“YES”

“YES”

“Review and/or approval by board.”

“Organization periodically reviews its conflict of interest policy at board meetings.”

“Salary information obtained from nreca for national, regional and state levels. Periodically use consultant to review pay scales.”

“Salary information obtained from nreca for national, regional and state levels. Periodically use consultant to review pay scales.”

“UPON REQUEST”

“Form 990, part ix the cooperative's accounting records are maintained in accordance with the uniform system of accounts required by its regulatory agency. The uniform system of accounts does not record expenses in the expense categories provided on part ix lines 1-23. Therefore, other expenses line 24 includes expenses that are described in lines 1-23, but reported using the uniform system of accounts.”

“Form 990, part ix: for the audited financial statements, the amount of patronage dividends paid or allocated to the members is reported as an increase in equity and not as an expense. Therefore, net income per the audited financial statements is reported gross of the amount of patronage dividends that are either allocated or to be allocated at the time the audited financial statements are prepared. However, because the allocation of patronage dividends is one aspect of how the cooperative fulfills its tax exempt purpose of operating on a cooperative basis, the amount of patronage dividends either allocated or to be allocated to the members is reported on form 990, part ix, line 4 as "benefits paid to members." patronage dividends are allocated on a patronage basis and done so pursuant to a pre-existing obligation as provided for in the "non-profit operation" article of the cooperative's bylaws.”

“Increase in other equities 875,178 benefits margin allocation 4,257,295 decrease in memberships -6,730 retirement of capital credits -2,172,120 decrease in aoci -407,924 total 2,545,699”