SCHEDULE O
(Form 990 or 990-EZ)

Department of the Treasury
Internal Revenue Service
Supplemental Information to Form 990 or 990-EZ

Complete to provide information for responses to specific questions on
Form 990 or 990-EZ or to provide any additional information.
MediumBullet Attach to Form 990 or 990-EZ.
MediumBullet Go to www.irs.gov/Form990 for the latest information.
OMB No. 1545-0047
2017
Open to Public
Inspection
Name of the organization
STEELE-WASECA COOPERATIVE ELECTRIC
 
Employer identification number

41-0558515
Return Reference Explanation
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.
For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.
Cat. No. 51056K
Schedule O (Form 990 or 990-EZ) 2017


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