East Texas Electric Coop

“Members consist of one 501(c)(12) tax exempt generation and transmission cooperative, northeast texas electric g&t, and seven tax exempt distribution cooperatives, cherokee county electric cooperative association, deep east texas electric cooperative, inc., houston county electric cooperatvie, inc., jasper-newton electric cooperatvie inc., rusk county electric cooperative, inc., sam houstion electric cooperative, inc. And wood county electric cooperative, inc.”

“Each distribution cooperative member and each distribution cooperative member of a g&t member shall be represented on the east texas electric cooperative, inc. Board of directors by one director representative (hereinafter "director/director") and one manager representative (hereinafter "manager/director"). The respective members elect the governing body from individuals who have been submitted for consideration at the annual meeting. These representatives must meet certain qualifications for election to the board.”

“The member appointed governing body with representation from each member cooperative has the authority to approve decisions and govern the organization.”

“The form 990 is provided to all directors and the audit committee prior to filing. The audit committee initially reviews the 990 and makes inquiries or proposes revisions as necessary. Employees of the cooperative responsible for filing meet with the audit committee and are available to respond to questions or provide background. Once the audit committee is satisfied that it is complete, they recommend it for approval by the full board. The full board also has an opportunity to review and make inquires of the employees of the cooperative responsible for filing the form 990. The board then formally approves the form 990 prior to filing.”

“Annually each director must complete and sign a conflict of interest statement disclosing any known conflicts of interest. The annual conflict forms are reviewed by the audit committee, and if any potential conflicts are noted, the governing body is to be notified and is responsible for enforcing the policy.”

“The organization uses a consulting firm to compile both salary information and conduct an annual ceo evaluation survey. The compensation committee of the organization utilizes this data along with other information to make a recommendation on compensation to the full board. The board then formally approves the compensation package for the ceo.”

“The organization's human resources department compiles industry salary data from sources including nreca's g&t compensation study and the economic research institute salary assessor. The salary data is used my management of the organization along with other information to set and approve annual salaries.”

“The cooperative's governing documents, conflicts of interest policy and financial statements are available to the public by submitting a written request to the cooperative.”

“Increase in unrealized gain/loss -518,792”