Southwestern Electric Cooperative Inc

“The cooperative was formed by the members to provide electric service at cost on a cooperative basis.”

“The members of the cooperative vote on the board of trustees. Elections are done on a one member one vote basis.”

“The following acts require approval of the members of the cooperative:1. Dissolution/liquidation of the cooperative2. Merger or consolidation of the cooperative with another organization3. Disposal of a substantial portion of the cooperatives assets4. Amendment to the articles of incorporation5. Amendment to the bylaws”

“Managment provided a copy of the form 990 to the board for review prior to filing.”

“The board of trustees perform an annual review when determining the compensation of the cooperatives general manager.other than the general manager, the cooperative did not have any employees meeting the definition of officer or key employee. Therefore, and pursuant to form 990 instructions, line 15b has been answered no.”

“The cooperative will provide a complete copy of its governing documents, conflict of interest policy, and audited financial statements to any member who requests a copy of any such document in writing. Annually the cooperative mails a copy of the audited balance sheet and income statement to the members of the cooperative with the annual report.”

“Section a -the board of trustees consider the general manager to be both the top management official and the top financial official. Therefore, only the general manager is listed as an employee officer.”

“Current Year Margins Assigned to Members $ 1,615,608Other Changes $ 179,018Retirement of Capital Credits $ -462,183Total $ 1,332,443”

“Part III, Line 1, Organizations MissionSOUTHWESTERN ELECTRIC COOPERATIVE IS IN EXISTENCE TO PROVIDE A HIGHER STANDARD AND QUALITY OF LIFE TO ITS MEMEBERS BY MEETING THEIR NEEDS. PROVIDING ELECTRICAL SERVICE AT THE HIGHEST STANDARD WHILE REMAINING CONPETITIVE WITH OTHER FUEL SOURCES AND ELECTRIC SUPPLIERS.”

“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.”