Grand Valley Rural Power Lines Inc

“New customers become members by opting in.”

“The business and affairs of the Cooperative are managed by a board of nine (9) directors. Each member of the Cooperative is entitled to vote in the election of directors on the Board of Directors either at a meeting held for such purpose or by mail. Directors are elected by a plurality vote of the members.”

“Minutes are taken at Board of Director Meetings and approved at the next board meeting”

“Form 990 is provided and presented to the Board of Directors for review, discussion, comment, and questions.”

“A director or officer must immediately disclose to the Board of Directors his/her relationship or interest as to a conflicting interest transaction. After a director or officer has disclosed his/her relationship or interest as to a conflicting interest transaction, the disinterested directors will then vote on whether or not to apporve the conflicting interest transaction. The conflicting interest transaction may be approved by a vote of the majority of the disinterested directors.”

“Compensation of the organizations top management officials was determined by the board of directors. The board established a salary range for the official using comparability data, and administers salary adjustments within the range based upon performance in achieving established goals and objectives.”

“Clerical, Engineering, Warehouse, and Production workers compensation is determined based on the Union contract with IBEW. All management with the exception of the Chief Executive Officer are classified into grades. The grades are arranged in ascending order according to the relative degree of responsibility, thought, skill, and effort required for each position. Annual performance evaluations are performed with the employees in order to strengthen the skills of the employess and to make them more efficient and effective in their respective job duties. Annually the Board of Directors, as a whole, evaluates the performance of the Chief Executive Officer. The Colorado Rural Electric Association, a statewide cooperative, provides comparative salary data of the Chief Executive Officers annual salary in the other cooperatives. The Board of Directors uses this information during the evaluation process.”

“Governing document, policies, Audited Financial Statements, and the Form 990 are available to the general public upon request at the cooperatives headaquarters.”

“Current Year Margins Assigned to Members $2,573,121Capital Credit Retirements -1,361,642 Other Comprehensive Income Change 26,809 Other Changes 151,825 Total $1,390,113”

“Form 990, Part IX, Line 4The instructions to the 2024 Form 990 indicate that organizations exempt under Section 501(c)(12) should report patronage dividends paid to their members in Part IX, Line 4 of the Form 990. The Cooperative has interpreted the words patronage dividends paid in the instructions to mean margins that are assigned or assignable to the members. The Cooperative assigns the net margins to its members each year. Therefore, the amount listed in Part IX, Line 4 represents the net margins assignable to the members for the calendar year ended December 31, 2024.”