White River Electric Association Inc

“Bylaw amendment to require an affirmative vote of only 2/3rds of the voting membership and not 2/3rd of the total membership to dispose all or any substantial portion of its property.”

“Members are owners of the electric utility cooperative and are allocated margins annually based on electricity usage.”

“Each member of the association shall be entitled to vote in the election of the board of directors.”

“Bylaw changes must be approved by the membership.”

“Management and the paid preparer review the form 990 prior to filing. The board reviews annual filings at regular monthly board meetings.”

“All bod members, and employees are required to annually submit a conflict of interest statement that is reviewed by the whole board, ceo, and the general counsel.”

“Ceo is reviewed annually by the entire bod who compare and evaluate compensation with other state cooperatives managers in similar positions.”

“Ceo evaluates other mgmt positions with employers council. In addition any variations to the wage or salary of other mgmt personnel are reviewed and approved by the bod.”

“Bylaws are offered to all new members; all other documents are available at any time upon request and approval of the ceo.”

“White river electric association, inc. Strives to provide its members/consumers with safe, reliable and reasonable electric energy and other services at the most reasonable costs possible while remaining committed to customer and community service.”

“Form 990, part ix, line 4 - benefits paid to or for members - the instructions to the 2021 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, 2021.”

“Cy margins assignable to members 801,088 change in oci 1,584,351 changes in other equity 143,509 retirement of capital credits -1,920,697 total 608,251”

“Form 990, part xii, line 2 white river electric association, inc.'s financial statement year-end differes from its tax year-end. The cooperative receives audited financial statements on an annual basis for the year ended august 31st.”