Grand Canyon State Electric Coop Inc

“Full membership shall be limited to nonprofit electric cooperatives engaged in the generation, transmission, distribution or sale of electricity. There shall be two classes of full membership. Class a full members shall be nonprofit electric distribution cooperatives. Class b full members shall be nonprofit electric generation, transmission or marketing cooperatives. In addition, class a associate membership is available to municipal electric utilities and entities who qualify for rural electrification and telephone financing under the rural electrification act. Class b associate membership is available to those entities not qualifying under the other membership classes, and class c associate membership is available to all other entities that make goods and services available to cooperatives.”

“Each class a member shall appoint two representatives to the board each serving a two year term. Each class b member shall appoint one representative to serve a two year term. Class a associate membership shall have one vote to elect the one voting member and alternate voting member who represent the associate members on the board of directors. Class b associate and class c associate members shall not have voting privileges.”

“Management presented a copy of the form 990 to the board for discussion, review and approval prior to filing. The discussion and review was performed at the board meeting immediately before filing the form 990.”

“As soon as possible, each board member is required to disclose to the board any conflicts of interest.”

“The board of directors use a compensation survey when determining the ceo's compensation. The survey shows salaries from statewide ceos from around the country.”

“The organization's governing documents, conflict of interest policy and audited financial statements are available for viewing by the public at the organization's office in tempe, az.”

“In order to provide retirement benefits to its employees, the organization has established a defined contribution plan under section 401(k) of the internal revenue code. Employer contributions to the plan are made pursuant to the plan document. Additionally, the organization participates in a multi-employer defined benefit plan. Contributions to this plan are based on the full funding limitation of such plan. Employer contributions for both plans are available to participating employees, including officers, key employees and highly compensated employees, meeting the eligibility requirements of such plans. The organization also provides health, dental, vision and life insurance to all eligible employees through a qualified plan. The amounts reported on part vii, column (f) for the officers, key employees and highly compensated employees is comprised of actuarial increase in the defined benefit plan, the total amount contributed by the organization to the defined contribution plan and insurance paid on behalf of and for their benefit.”

“The board of directors have assigned members to an audit committee to oversee the financial statement audit and select the independent financial statement auditor.”