FORM 990, PART VI, SECTION A, LINE 6 |
THE COMPANY IS A MEMBER OWNED COOPERATIVE. |
FORM 990, PART VI, SECTION A, LINE 7A |
AT THE ANNUAL MEETING 3 DIRECTORS ARE ELECTED ANNUALLY TO 3 YEAR TERMS. NO ABSENTEE BALLOTS ARE ALLOWED. ALL MEMBERS CAN VOTE IF PRESENT AT THE ANNUAL MEETING. |
FORM 990, PART VI, SECTION B, LINE 11B |
ALL BOARD MEMBERS RECEIVED AN ELECTRONIC VERSION OF FORM 990 BEFORE IT WAS FILED. |
FORM 990, PART VI, SECTION B, LINE 12C |
CORPORATE COUNCIL REVIEWS THE CONFLICT OF INTEREST POLICY AT THE ORGANIZATIONAL MEETING WITH THE ENTIRE BOARD OF DIRECTORS. |
FORM 990, PART VI, SECTION B, LINE 15A |
THE BOARD OF DIRECTORS AS THE GOVERNING BODY AND CORPORATE COUNCIL CONDUCTED A PERFORMANCE AND COMPENSATION REVIEW. COMPENSATION WAS SET BY THE BOARD OF DIRECTORS BASED ON A PERFORMANCE REVIEW AND NATIONAL COMPENSATION SURVEYS. |
FORM 990, PART VI, SECTION C, LINE 19 |
GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. |
FORM 990, PART IX, LINE 4 |
THE IRS INSTRUCTIONS STATE THAT PATRONAGE DIVIDENDS PAID BY SECTION 501(C)(12) ORGANIZATIONS TO THEIR MEMBERS SHOULD BE REPORTED ON LINE 4. THE ORGANIZATION HAS INTERPRETED PATRONAGE DIVIDENDS PAID TO MEAN PATRONAGE DIVIDENDS ALLOCATED OR TO BE ALLOCATED FOR THE CURRENT YEAR. SINCE THIS ALLOCATION IS NOT AN EXPENSE UNDER GENERALLY ACCEPTED ACCOUNTING PRINCIPLES (GAAP), THIS HAS RESULTED IN A RECONCILING ITEM TO NET ASSETS IN PART XI ON PAGE 12 OF THE FORM 990 AND IN PART XII ON SCHEDULE D. |
FORM 990, PART XI, LINE 9: |
PATRONAGE DIVIDENDS ALLOCATED 2,675,844. CAPITAL CREDITS RETIRED -917,611. ESTATE SETTLEMENTS -125,486. MEMBERSHIP CHANGES -40. |
FORM 990, PART XII, LINE 2C |
THE COOPERATIVE'S BOARD OF DIRECTORS ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND THE SELECTION OF ITS INDEPENDENT ACCOUNTANT. THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. |