Form 990, Part V, Line 3b: Reason For Not Filing Form 990-T |
The operation does not constitute a trade or business (as defined in the instructions of the Form 990) as there is no motive to make a profit and the net income for the past several years were losses. If the intent changes or the operation nets a profit, the Cooperative will file the necessary Form 990-T. |
Form 990, Part VI, Line 6: Explanation of Classes of Members or Shareholder |
Members are businesses and individuals which receive electric service from the cooperative. |
Form 990, Part VI, Line 7a: How Members or Shareholders Elect Governing Body |
Each member, who is not in a status of suspension, shall be entitled to vote in the election of the Board of Directors. Elections are held every year at the annual meeting and must be cast in person. |
Form 990, Part VI, Line 7b: Describe Decisions of Governing Body Approval by Members or Shareholders |
In addition to voting for the Board of Directors, members are entitled to vote upon any matter submitted at any meeting of the members, such as changes in the bylaws. |
Form 990, Part VI, Line 11b: Form 990 Review Process |
After the Form 990 has been prepared by the independent accountants, the General Manager reviews the form with the Bookkeeper for accuracy and completeness before it is filed. |
Form 990, Part VI, Line 19: Other Organization Documents Publicly Available |
Any interested party must make their request in writing prior to coming into the office to view documents. |
Other Changes In Net Assets Or Fund Balances - Other Increases |
Assignment of prior year margins = $1819064 |
Other Changes In Net Assets Or Fund Balances - Other Increases |
Capital credit gains = $473532 |
Other Changes In Net Assets Or Fund Balances - Other Decreases |
Donated capital = -$4988 |
Other Changes In Net Assets Or Fund Balances - Other Decreases |
Impairment of assets = -$80329 |
Other Changes In Net Assets Or Fund Balances - Other Decreases |
Memberships = -$105 |
Other Changes In Net Assets Or Fund Balances - Other Decreases |
Retirement of capital credits = -$674299 |
Form 990, Part IX, Line 4 - Explanation of Benefits Paid to Members |
The Cooperative has interpreted the instructions for Part IX, Line 4 of the Form 990, regarding patronage dividends paid, to include the assignment of the prior year margins to members during the tax year. |