Emery Telephone DBA Emery Telcom

“The organization operates as a cooperative consisting of members. There are no member classes. All members have one vote in board member elections or voting decisions. Patronage allocations of excess profits are prorated to each member based upon Access Minute Usage, and Local Telephone Service Dollars.”

“The Board of Directors are elected by vote of the members of the cooperative. There are no member classes. All members have one vote in board member elections or voting decisions. Patronage allocations of excess profits are prorated to each member based upon Access Minute Usage, and Local Telephone Service Dollars.”

“Decisions requiring membership approval are brought before the members at the annual meeting or during special meetings as required.”

“Extensive review of the audited general ledger and financial statements is performed by the board of directors. These audited financial transactions become the basis of the 990 and 990T. The 990's are prepared by the tax department of Moss Adams LLP from financial data and information provided by Emery Telcom's management. The completed 990's are reviewed by the CFO and CEO of Emery Telephone and adjusted as necessary before filing.”

“Prior to eligibility for election to the Board of Directors the candidate must provide evidence and certify compliance with the conflicts of interest policy. While serving on the Board, compliance is monitored by the cooperative's management and Board of Directors. Where conflicts are discovered the offending party must remedy the conflict or be subject to replacement/termination.”

“Compensation for key employees, officers, and top management is determined by independent review and approval by the Board of Directors. Industry salary surveys and peer data are used for comparability and to establish salary range parameters for all employees including key employees and CEO. Comparability data is specific to similar sized telecommunication companies, considering service offerings, number of related entities, number of customers, region, corporate complexity/ownership, and revenue size.”

“Forms 990 and 990-T are available for public inspection at the Orangeville, Utah business office or upon request.”

“The organization's governing documents, conflict of interest policy, and financial statements are maintained and are available for inspection at the cooperative's business office at 445 E. SR 29, Orangeville, UT 84537. Financial results are also presented during the annual meeting of the members. Portions of the governing documents are communicated during the election process and at annual meetings as needed.”

“Other Comprehensive Income - Postretirement Benefit Obligation 411,935. CAPITAL CREDIT RETIREMENTS -648,593. OTHER ADJUSTMENTS 0.”