FORM 990, PART VI, SECTION A, LINE 2 |
A BUSINESS RELATIONSHIP EXISTS BETWEEN THE FOLLOWING: BRUCE PURDY, GENERAL MANAGER AND BRYAN HICKS, TRUSTEE BRUCE PURDY, GENERAL MANAGER AND LOUIS CROWDER, TRUSTEE BRYAN HICKS, TRUSTEE AND LOUIS CROWDER, TRUSTEE |
FORM 990, PART VI, SECTION A, LINE 6 |
NORTH ALABAMA ELECTRIC COOPERATIVE HAS MEMBERS. ALL MEMBERS HAVE IDENTICAL RIGHTS |
FORM 990, PART VI, SECTION A, LINE 7A |
NORTH ALABAMA ELECTRIC COOPERATIVE'S GOVERNING BODY CONSISTS OF NINE TRUSTEES THAT ARE ELECTED BY MEMBERSHIP OF THE COOPERATIVE. EACH TRUSTEE SERVES A THREE YEAR TERM AND REPRESENTS A CERTAIN DISTRICT WITHIN THE TERRITORY SERVED BY THE COOPERATIVE. THE TERMS ARE STAGGERED IN ORDER FOR THE COOPERATIVE TO ONLY HAVE THREE TRUSTEES UP FOR ELECTION IN ANY ONE YEAR. |
FORM 990, PART VI, SECTION A, LINE 7B |
THE BUSINESS AND AFFAIRS OF THE COOPERATIVE ARE MANAGED BY THE BOARD OF TRUSTEES WHICH, ACCORDING TO THE BYLAWS, SHALL EXERCISE ALL OF THE POWERS OF THE COOPERATIVE EXCEPT THE POWERS THAT ARE RESERVED TO THE MEMBERS OF THE COOPERATIVE BY LAW, THE COOPERATIVE'S CHARTER, OR THE BYLAWS. |
FORM 990, PART VI, SECTION B, LINE 11B |
THE CHIEF FINANCIAL OFFICER ATTENDED THE BOARD MEETING AND PRESENTED THE FORM 990 TO THE TRUSTEES BEFORE IT WAS FILED. EACH TRUSTEE WAS GIVEN A HARD COPY OF THE RETURN TO REVIEW AS IT WAS DISCUSSED BY THE CFO. THE FORM 990 WAS REVIEWED EXTENSIVELY BY THE CFO AND THE GENERAL MANAGER BEFORE THE RETURN WAS FILED. |
FORM 990, PART VI, SECTION B, LINE 15 |
THE BOARD OF TRUSTEES REVIEWS SALARY SURVEYS OF NEIGHBORING AND LIKE COOPERATIVES (ORGANIZATIONS) IN DETERMINING COMPENSATION FOR KEY EMPLOYEES AND OTHER COMPENSATED INDIVIDUALS |
FORM 990, PART VI, SECTION C, LINE 19 |
THE COOPERATIVE'S GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST AT ITS OFFICE IN STEVENSON, ALABAMA. |
FORM 990, PART IX, LINE 24E |
REPAIRS AND MAINTENANCE 1,961,833. VIP INVESTMENT CREDIT 1,364,454. DISTRIBUTION EXPENSE 1,340,118. ACCOUNTING AND COLLECTIONS 1,059,364. |
FORM 990, PART XI, LINE 9: |
AMORTIZATION OF ACTUARIAL LOSS & TRANSITION OBLIGATION 153,000. CHANGE IN MEMBERSHIPS 1,725. INTEREST EXPENSE NOT ON TAX RETURN 644. |