| Form 990, Part VI, Line 6: Explanation of Classes of Members or Shareholder |
Jones-Onslow electric membership corporation is a member owned nonprofit cooperative organized to provide electric service to approximately 64,000 members in the counties of onslow, jones, duplin, lenoir, Pender and craven in the state of north carolina |
| Form 990, Part VI, Line 7a: How Members or Shareholders Elect Governing Body |
All the members of Jones-Onslow Electric Membership Corporation receive one vote with respect to selecting the Corporation's board of directors. |
| Form 990, Part VI, Line 7b: Describe Decisions of Governing Body Approval by Members or Shareholders |
DECISIONS BY THE BOARD OF DIRECTORS ARE SUBJECT TO THE APPROVAL OF A MAJORITY OF THE MEMBERS |
| Form 990, Part VI, Line 11b: Form 990 Review Process |
THE FORM 990 WAS PRESENTED AT A BOARD MEETING FOR DISCUSSION AND REVIEW |
| Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts |
JONES-ONSLOW ELECTRIC MEMBERSHIP CORPORATION REGULARLY AND CONSISTENTLY MONITORS AND ENFORCES COMPLIANCE WITH ITS WRITTEN CONFLICT OF INTEREST POLICY |
| Form 990, Part VI, Line 15b: Compensation Review and Approval Process for Officers and Key Employees |
CEO compensation is determined by an executive compensation committee. A comparative analysis of compensation is performed by an independent consultant and is used in determining compensation. The minutes of the board of directors show approval of the compensation for the CEO. An independent consulting firm also reviews other higher compensated officers and key employees. This information is assessable by the board and is recorded in the board minutes. |
| Form 990, Part VI, Line 19: Other Organization Documents Publicly Available |
THE FINANCIAL STATEMENTS ARE MAILED TO EACH MEMBER AS PART OF THE ANNUAL REPORT AND THEY ARE AVAILABLE UPON REQUEST AT THE CORPORATE OFFICE LOCATED IN JACKSONVILLE |
| Other Changes In Net Assets Or Fund Balances - Other Decreases |
Contributions in aid of construction not revenue per gaap = -$1396920 |
| Other Changes In Net Assets Or Fund Balances - Other Increases |
Noncash patronage capital allocations not revenue per IRS = $2729157 |
| Other Changes In Net Assets Or Fund Balances - Other Increases |
Other Comprehensive income = $4806469 |
| Other Changes In Net Assets Or Fund Balances - Other Increases |
Patronage Div. paid to members' accts. not expense per GAAP = $5241005 |
| Other Changes In Net Assets Or Fund Balances - Other Decreases |
Retirement of Capital Credits = -$3037086 |
| 990 Part 1 line 14 and Part IX Line 4 |
Patronage dividends paid to members' accounts was in accordance with the pre-existing obligation of Jones-Onslow Electric Membership Corporation's by-laws. The Corporation is obligated to pay by credits to a capital account for each patron all such amounts in excess of operating costs and expenses.IRS instructions for line 4 changed in 2011 to include patronage dividends paid by section 501(c)(12) organizations to their members. |
| Part V Section B Independent Contractors |
JONES-ONSLOW ELECTRIC MEMBERSHIP CORPORATION ("CORPORATION") HAD PREVIOUSELY ENTERED INTO A CONTRACT WITH RM MANAGEMENT SERVICES RELATED TO THE MANAGEMENT SERVICES OF THE CORPORATION'S CEO POSITION. THIS CONTRACT EXPIRED DECEMBER 31, 2015 AND THE PAYMENTS INCLUDED IN THIS SECTION REPRESENT THE FINAL PAYMENTS RELATED TO THIS CONTRACT. |
| PART VII SECTION A COLUMN F |
THE CORPORATION PARTICIPATES IN THE NRECA GROUP DEFINED PENSION PLAN. AS PART OF THIS PLAN, PARTICIPANTS ARE REQUIRED TO RECOGNIZE THE ACTUARIAL INCREASE IN THE VALUE OF THEIR ACCOUNT ON THE FORM 990. THE CONTRIBUTION RATE FOR PARTICIPANTS IN THE PLAN ARE THE SAME FOR ALL INDIVIDUALS IN THE PLAN. THE CHANGE IN ACTUARIAL VALUE FOR EACH PARTICIPANT, HOWEVER, VARIES WITH AGE. IN OTHER WORDS, THE OLDER A PARTICIPANT IS, THE GREATER THE INCREASE IN THAT INDIVIDUAL'S CHANGE IN ACTUARIAL VALUE WITH ALL OTHER THINGS BEING EQUAL. |
Attach to Form 990 or 990-EZ.