| Form 990, Part VI, Section A, Line 6 |
NOVEC is a member owned electric cooperative. |
| Form 990, Part VI, Section A, Line 7a |
NOVEC's members elect the governing body by vote or proxy at the annual meeting. |
| Form 990, Part VI, Section B, Line 11b |
The Form 990 is reviewed by the Accounting Manager, Vice President of Finance and Board of Directors Audit committee for completeness and accuracy as compared to the audited financial statements. Other Board Members receive a summary for review. |
| Form 990, Part VI, Section B, Line 12c |
The policy is monitored and enforced through education and awareness at regular employee meetings and inquiries of Directors. |
| Form 990, Part VI, Section B, Line 15 |
Human Resources is responsible for the compensation packet of top managerial staff. A market analysis is performed by an independent consultant group with benchmarks by industry and geographical data. The CEO approves compensation packets for key employees. The Executive committee of the Board of Directors reviews officers compensation, benefits and contract amendments with recommendations for approval. |
| Form 990, Part VI, Section C, Line 19 |
All documents are made available upon written request by mail, fax or electronic copy. |
| Form 990, Part XI, Line 9 |
hange in membership dues: ($32,718); Assignable Patronage: ($21,718); OCI & Reacquired Donations: $4,550,492. |
Attach to Form 990 or 990-EZ.