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 digna louis); cooperative energy services, inc. (3 officers jim matheson, jeffrey connor and digna louis); re advisors corp. (1 officerjeffrey connor); re investment corp. (1 officer- jeffrey connor); cooperative benefit administrators, inc. (1 officer- digna louis); electric cooperative life insurance company (2 officers- jeffrey connor and digna louis); cooperative insurance services, inc.(1 officer- digna louis), nreca international (4 officers- jim matheson, jeffrey connor, digna louis and jessica healy) and nreca wood quality control, inc (2 officers- jeffrey connor and digna louis).”

“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 2024 nreca research irs form 990 support data was prepared by the manager of accounting in the finance-grants & contracts department. This support data was then provided to an outside tax accounting firm, via their tax organizer, who then prepared the 2024 form 990 and schedules. Thereafter, any questions or additional information requested by the tax accounting firm were provided. Once completed, the prepared form 990 was returned to the manager of accounting for a detailed review for accuracy. To finalize, the director of general accounting & admin. Performed a cursory review before providing the 990 return to the nreca chief finanical officer/nreca research secretary/treasurer for her review and signature on the 990. The approved and signed 990 is then returned to the outside tax accounting firm for final review and electronic filing to the irs. The completed 2024 form 990 was made available to the nreca research's board of directors.”

“Each director and officer is required to complete a conflict of interest questionnaire that is distributed from nreca. This is then reviewed by senior staff and the corporate 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 statements, distributes its' annual audited financial statements to the nreca board of directors. Additionally, 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 statements, distributes its' annual audited financial statements to the nreca board of directors. Additionally, nreca research provides copies of its' audited financial statements, governance documents and form 990 tax return upon request.”

“RESOURCE ADEQUACY AND MARKETS - Total Revenue: 346047, Related or Exempt Function Revenue: 346047, Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: ; TRANSMISSION & DISTRIBUTION - Total Revenue: 111700, Related or Exempt Function Revenue: 111700, Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: ; ALL OTHER PROGRAMS - Total Revenue: 135992, Related or Exempt Function Revenue: 135992, Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: ;”

“(Expenses $ 1,129,305 including grants of $)(Revenue $ 596,641) RESEARCH ACTIVITIES FOCUSED ON RENEWABLE AND DISTRIBUTED GENERATION”

“(Expenses $ 634,346 including grants of $)(Revenue $ 346,047) RESEARCH ACTIVITIES FOCUSED ON MEMBER RESOURCE ADEQUACY PROGRAMS.”

“(Expenses $ 450,237 including grants of $)(Revenue $ 355,527) RESEARCH ACTIVITIES FOCUSED ON GENERATION, ENVIRONMENT AND CARBON”

“(Expenses $ 111,700 including grants of $)(Revenue $ 111,700) RESEARCH ACTIVITIES FOCUSED ON TRANSMISSION AND DISTRIBUTION OF ELECTRICITY”

“(Expenses $ 37,038 including grants of $)(Revenue $ 135,992) OTHER RESEARCH ACTIVITIES”

“SUBCONTRACTS - Total Expense: 2202262, Program Service Expense: 2202262, Management and General Expenses: , Fundraising Expenses: ; CONSULTING FEES - Total Expense: 1480859, Program Service Expense: 1437215, Management and General Expenses: 43644, Fundraising Expenses: ; EDITORIAL & WRITING FEES - Total Expense: 51281, Program Service Expense: 51281, Management and General Expenses: , Fundraising Expenses: ; CONTRACTED PERSONNEL - Total Expense: 117658, Program Service Expense: 31450, Management and General Expenses: 86208, Fundraising Expenses: ; SUBRECIPIENTS - Total Expense: 384878, Program Service Expense: 384878, Management and General Expenses: , Fundraising Expenses: ; SPEAKER FEES - Total Expense: 28500, Program Service Expense: 28500, Management and General Expenses: , Fundraising Expenses: ; OTHER PROFESSIONAL FEES - Total Expense: 990, Program Service Expense: , Management and General Expenses: 990, Fundraising Expenses: ;”