Brazos Electric Power Cooperative Inc

“Brazos electric is owned by 16 member electric distribution cooperatives.”

“Each member elects their representative to serve as a director on the brazos electric power cooperative board.”

“Any cooperative member may bring charges against an officer, director or alternate director by filing them in writing with the secretary, together with a petition signed by ten per cent (10%) of the members, requesting the removal of the officer, director or alternate director in question. The removal shall be voted upon at the next regular or special meeting of the members and shall require the affirmative vote of not less than two-thirds (2/3) of all members. Any vacancy created by such removal may be filled by the members at such meeting. Any director or alternate director representing a corporate member may be removed by action of the corporate member. Such action shall be honored by the board of directors upon receipt of formal notification.”

“The form 990 is prepared by forvis mazars. It is then reviewed by the manager of fiscal services and controller; vice president and chief financial officer; and the executive vice president and general manager before it is presented to the board of directors for review prior to its submission to the irs.”

“On an annual basis the directors fill out a conflict of interest certification and disclosure form. On a monthly basis the board is provided a schedule of payments made for services and goods provided the cooperative. If a business decision involves a conflict with a member, that member is requested to sit out of the meeting while a discussion and vote is held.”

“Ceo pay is determined by the brazos electric board along with wage survey information that is provided for ceo salaries. The board members meet to discuss if an increase should be given based on performance and tenure in the position. The 16 member board is responsible for deciding on the pay of the ceo.”

“Vice president's pay is determined based on two components. Each vice president's job title is placed in a salary grade based on wage survey studies. Individual increases are based on performance, tenure, and position within the salary grade. The ceo of brazos electric is responsible for evaluating increases for vice presidents.”

“The organization does not make its governing documents, conflict of interest policy, or financial statements available to the public.”

“ACES LLC K-1 INCOME - -104328; PATRONAGE CAPITAL ALLOCATION - 3130605; Total - 3026277;”