Nreca Research

“Several nreca research officers and directors also serve as officers and/or directors of the following nreca subsidiaries and affiliated entities: nreca united, inc. (3 officers- jim matheson, jeffrey connor and veneicia lockhart); cooperative energy services, inc. (3 officers jim matheson, jeffrey connor and veneicia lockhart); re advisors corp.(1 officer- jeffrey connor); re investment corp.(1 officer- jeffrey connor); cooperative benefit administrators, inc.(1 officer- veneicia lockhart); electric cooperative life insurance company(2 officers- jeffrey connor and veneicia lockhart); cooperative insurance services, inc.(1 officer- venecia lockhart), nreca international(2 officers- jim matheson and veneicia lockhart) and nreca wood quality control, inc(1 officer- jeffrey connor).”

“The nreca research board of directors is appointed by the national rural electric cooperative association(nreca) board of directors, which at any nreca board meeting, the nreca board may remove any elected director from office and elect a successor to fill the resulting vacancy for the unexpired term.”

“While the nreca research board of directors(governing body) is appointed by the national rural electric cooperative association(nreca) board of directors, the main nreca board of directors also has decision making abilities over the nreca research board given the nreca research entity is a part of nreca consolidated activities, which are controlled by the nreca board of directors.”

“The nreca research form 990, return of organization exempt from income tax, is prepared by the manager of accounting in the finance-grants & accounting department. Once completed, a deailed review is conducted by the sr. Director of accounting. A final review is completed by the sr. Vp of finance for accuracy. The irs form 990 is then made available to the nreca research's board of directors and filed with the irs.”

“Each director and officer is required to complete a conflict of interest quetionaire that is distributed from nreca. This is then reviewed by senior staff and the corparate legal counsel office at nreca and any conflicts are followed-up by nreca corporate legal counsel with the respective director or officer to resolve.”

“Ceo compensation: the nreca ceo evaluation committee of the board of directors is responsible for evaluating the performance of the ceo, an outside consultant annually reviews independent compensation studies to verify the nreca ceo's compensation is within a competitive range for ceo's of comparable organizations. This information is then shared with the nreca ceo evaluation committee which then develops the salary (and any recommended annual increases) that is presented to the full nreca board of directors for review and approval annually. Officers & key employees compensation: nreca's human resources department has a market pay tool that utilizes current salary data from purchased compensation studies to analyze salaries for positions within the nreca organization. Nreca has written policies and procedures governing its' salary increase process. The salary increase process is intended to enable managers to make rational decisions concerning salary increases within the association's budgeting constraints. Yet, it does not guarantee a salary increase to any employee. The salary increase process follows these steps: 1. Approval of nreca's budgeted salary increase by the nreca board of directors; 2. Completion of a written annual performance summary for each employee by his/her manager; 3. Recommendation of merit increases for individual employees based on performance; 4. Analysis, review and approval of salary increase recommendations by the human resources and chief executive office; 5. Communication of the salary increase to each individual staff member by his/her manager.”

“Nreca research, which is part of the nreca association consolidated financial statments, distributes its' annual audited financial statements and form 990 tax return to the nreca board of directors. Additonally, nreca research provides copies of its' audited financial statements and form 990 tax return upon request.”

“Nreca research, which is part of the nreca association consolidated financial statments, distributes its' annual audited financial statements and form 990 tax return to the nreca board of directors. Additonally, nreca research provides copies of its' audited financial statements and form 990 tax return upon request.”

“Consultants: program service expenses 475,835. Management and general expenses 42,245. Fundraising expenses 0. Total expenses 518,080. Editorial & writing services: program service expenses 29,571. Management and general expenses 0. Fundraising expenses 0. Total expenses 29,571. Subcontracts: program service expenses 2,681,200. Management and general expenses 10,652. Fundraising expenses 0. Total expenses 2,691,852.”