Form 990, Part VI, Line 6: Explanation of Classes of Members or Shareholder |
Must be a member to receive telephone service. Each member has 1 vote. May have more than 1 service per membership. |
Form 990, Part VI, Line 7a: How Members or Shareholders Elect Governing Body |
Nominating committee meets every year to select member to run for director. Member may run for director with petition signed by 150 or more members. |
Form 990, Part VI, Line 7b: Describe Decisions of Governing Body Approval by Members or Shareholders |
Articles of Incorporation can only be changed by a majority vote of the membership. By Laws may be altered, amended, or repealed by the Board of Directors at any regular or special Board meeting; provided, that the notice of the meeting, shall have contained a copy of the proposed alteration, amendment, or repeal. |
Form 990, Part VI, Line 11b: Form 990 Review Process |
Directors are furnished a draft copy of the 990 prior to filing. May make inquiries of information contained in the filing. Additionally, directors meet with the independent auditor and are able to ask questions at that time. |
Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts |
A quesionaaire is prepared by each director and key employee on an annual basis. |
Form 990, Part VI, Line 15b: Compensation Review and Approval Process for Officers and Key Employees |
15a & b. Board of Directors review and approve compensation of top management, key employees and all other employees using data provided by national association of telephone cooperatives. |
Form 990, Part VI, Line 19: Other Organization Documents Publicly Available |
Articles of Incorporation and By-Laws are given to each new member. By-Laws are published annually in the local telephone directory. Financial statements are given to each member at the annual membership meeting. |
Other Changes In Net Assets Or Fund Balances - Other Increases |
Margins allocated to members = $5087148 |
Other Changes In Net Assets Or Fund Balances - Other Increases |
Net change in memberships = $137 |
Other Changes In Net Assets Or Fund Balances - Other Decreases |
Refunds of capital credits = -$2238707 |