Rio Grande Electric Coop Inc

“There is a family relationship between priscilla parsons and john marion parsons.”

“The organization has two types of members, each have the same voting rights. 1. Bundled electric energy service 2. Unbundled distribution service under contract (military base)”

“Each member has one vote for each open district board position.”

“Disposition of all or substantially all of the cooperative's property is subject to approval by the members.”

“No committee has authority to act on behalf of the governing body.”

“A copy of the form 990 is reviewed by the ceo. After the review, a copy of the form 990 is provided to the board members. The 990 is presented to the board members at the board meeting prior to its filing, if so requested by any board member.”

“The policy states the person must come forth in accordance with policy. The directors are required to complete an affidavit of eligibility during time of election or re-election stating such conflict. Directors complete a relationship and business interests questionnaire annually. Each employee is also asked to disclose information in their application.”

“Each director completes an approved evaluation and submits it to the ceo review committee on an annual basis. The committee then develops a composite of all evaluation forms to present to the ceo. Regional, state, and national data is used to assist the board in determining the ceo salary. This process is documented in the board minutes. Other officers are annually evaluated by the ceo. A salary administration plan is reviewed and updated annually and presented to the board for approval. The salary administration plan sets target compensation ranges for all positions using regional, state, and national data. This process is documented in the personnel files.”

“The governing documents and financial statements are available upon request and also via the cooperative's website.”

“The irs instructions state that patronage dividends paid by section 501(c)(12) organizations to their members should be reported on line 4. The organization has interpreted patronage dividends paid to mean patronage dividends allocated or to be allocated for the current year. Since this allocation is not an expense under generally accepted accounting principles (gaap), this has resulted in a reconciling item to net assets in part xi on page 12 of the form 990 and in part xii on schedule d.”

“Allocation of 2024 margins to members in 2025 8,911,391. Unclaimed capital credits -92,922. Change in memberships 140. Retirement of capital credits -3,809,956. Individual scholarships 31,500.”