2024-11-15T15:27:09-06:00 2023-12-31 750882037 BOLINGER SEGARS GILBERT AND MOSS LLP 8215 NASHVILLE AVENUE LUBBOCK TX 79423 990 2023-01-01 730182325 CHOCTAW ELECTRIC COOPERATIVE INC CHOC 5803266486 PO BOX 758 HUGO OK 74743 KOONEY DUNCAN CEO 5803266486 2024-11-13 1 0 WILLIAM M MILLER P00439459 8067473806 2024-11-13 X 2023 2024-10-15 13:58:12Z KOONEY DUNCAN PO BOX 758 HUGO OK 74743 57550887 0 X WWW.CHOCTAWELECTRIC.NET X 1940 OK PROVIDE RELIABLE, SAFE AND AFFORDABLE ENERGY SERVICES TO THE MEMBERS WE SERVE. 9 9 74 0 0 0 0 0 62756412 56725762 176591 183251 56541 6967 62989544 56915980 7713 5815 5782057 5237443 5213884 5945965 0 0 0 51985890 45726757 62989544 56915980 0 0 143071795 148026336 61031108 61784451 82040687 86241885 PROVIDE RELIABLE, SAFE AND AFFORDABLE ENERGY SERVICES TO THE MEMBERS WE SERVE. 0 0 PROVIDING ELECTRIC ENERGY TO OUR MEMBERS AT COST ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL. THERE WERE 21,686 ACTIVE SERVICES AT YEAR END. 0 0 0 0 0 0 0 0 0 1 0 1 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 19 0 74 1 0 0 0 0 0 59519439 630144 0 0 0 X 9 9 0 0 0 0 1 1 1 1 0 0 0 1 1 1 1 1 1 1 1 0 OK X X MICHAEL MELTON ACCTFINANCE SUPERVISOR 5803266486 PO BOX 758 HUGO OK 74743 X WILLIAM WOOLSEY TRUSTEE 3.50 X 6650 0 0 JACKSON FERGUSON TRUSTEE 3.20 X 7000 0 0 DOUGLAS FRANKS PRESIDENT 10.60 X X 7350 0 0 DEBORAH CODY TRUSTEE 3.80 X 6100 0 0 PERRY THOMPSON JR SECRETARY/TREASURER 1.00 X X 6700 0 0 STACY NICHOLS TRUSTEE 4.20 X 6650 0 0 KENNETH AUTRY TRUSTEE 8.50 X 8250 0 0 JARRED CAMPBELL VICE PRESIDENT 2.00 X X 5500 0 0 JANA BURRIS TRUSTEE 6.70 X 7750 0 0 KOONEY DUNCAN CEO 55.00 X 206048 0 106818 KYLE BECK AREA SERVICEMAN 52.00 X 110528 0 48934 ISAAC BILLINGSLEY LEAD LINEMAN 52.00 X 106395 0 46956 DARREN FRAZIER FOREMAN 50.00 X 104096 0 67171 SHANE CHRISTIAN JOURNEYMAN LINEMAN 52.00 X 101997 0 19689 JEFFREY RECTOR AREA SERVICEMAN 50.00 X 101453 0 58171 792467 0 347739 9 0 1 0 JCL POWER LLC 268 COOKS POINT DR BOYCE LA 71409 CONSTRUCTION 3950742 TEXAR LINE CLEARANCE 617 EAST STREET TEXARKANA AR 71854 ROW CLEARING 855950 C&M ELECTRIC LLC PO BOX 95 EAGLETOWN OK 74734 POLE/SYSTEM MAINTENANCE 762074 D&H ELECTRICAL CONTRACTORS PO BOX 1314 SEARCY AR 72415 CONSTRUCTION 282366 PROGRESSIVE SOLUTIONS LLC 201 WHISPERING VALLEY DRIPPING SPRINGS TX 78620 SPRAYING 160457 5 X SALES OF ELECTRICITY 221000 53933752 53933752 PATRONAGE DIVIDENDS 221000 2277861 2277861 SERVICE FEES 221000 500864 500864 OTHER PROGRAM REVENUE 221000 13285 13285 56725762 95389 95389 6523 0 6523 6523 6523 417740 292030 425346 196562 -7606 95468 87862 95468 -7606 13443 12999 444 444 56915980 56821674 0 94306 X 5815 5237443 374816 3610284 1019477 652419 288969 1807053 5469994 PURCHASED POWER 34628015 DISTRIBUTION EXPENSE 2008808 ADMIN & GENERAL EXPENSE 1063732 CONSUMER EXPENSE 548331 200824 56915980 1097493 699736 5929 3173042 3565893 183704 261320 3256342 3986296 4580157 1653815 157192238 54119143 98252685 103073095 5523711 6337864 28744 28861 23877802 25598063 3092186 2821393 143071795 148026336 5439046 5140573 46266163 49865056 9325899 6778822 61031108 61784451 X 77150 79065 0 0 81963537 86162820 82040687 86241885 143071795 148026336 X 0 773160 3428038 X X 0 1 X 1 0 286792 286792 3219644 1762001 1457643 148957478 52357142 96600336 4728324 4728324 103073095 PATRONAGE CAPITAL - WFEC 20583521 C PATRONAGE CAPITAL - CFC 1334628 C PATRONAGE CAPITAL - AECI 225058 C PATRONAGE CAPITAL - NISC 163959 C PATRONAGE CAPITAL - COBANK 2425036 C PATRONAGE CAPITAL - CRC 8683 C CAPITAL TERM CERTIFICATES 837645 C MEMBERSHIPS 1100 C FEDERATED PATRONAGE 18433 C 25598063 ACCUMULATED PROVISION FOR PENSIONS AND BENEFITS 1016313 CONSUMER DEPOSITS 348027 DEFERRED CREDITS - REFUNDABLE AID TO CONSTRUCTION 5276725 ACCRUED OPERATING TAXES 137757 6778822 X 57689140 773160 773160 56915980 0 56915980 51678537 0 51678537 5237443 5237443 56915980 PART X, LINE 2: THE COOPERATIVE APPLIES THE "UNCERTAIN TAX POSITIONS" PROVISIONS OF ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA. THE PRIMARY TAX POSITION OF THE COOPERATIVE IS ITS FILING STATUS AS A TAX EXEMPT ENTITY. THE COOPERATIVE DETERMINED THAT IT IS MORE LIKELY THAN NOT THAT ITS TAX POSITION WILL BE SUSTAINED UPON EXAMINATION BY THE INTERNAL REVENUE SERVICE (IRS), OR OTHER STATE TAXING AUTHORITY AND THAT ALL TAX BENEFITS ARE LIKELY TO BE REALIZED UPON SETTLEMENT WITH TAXING AUTHORITIES. PART XII, LINE 4B - OTHER ADJUSTMENTS: PATRONAGE CAPITAL ALLOCATED OR TO BE ALLOCATED 5,237,443. PART VII: THE AMOUNT OF INVESTMENTS - OTHER SECURITIES ON FORM 990, PAGE 11, PART X, LINE 12 DOES NOT EQUAL OR EXCEED 5% OF THE TOTAL ASSETS ON FORM 990, PAGE 11, PART X, LINE 16, COLUMN B. CONSEQUENTLY, IN ACCORDANCE WITH IRS INSTRUCTIONS, SCHEDULE D, PART VII HAS BEEN LEFT BLANK. PART IX: THE AMOUNT OF OTHER ASSETS ON FORM 990, PAGE 11, PART X, LINE 15 DOES NOT EQUAL OR EXCEED 5% OF THE TOTAL ASSETS ON FORM 990, PAGE 11, PART X, LINE 16, COLUMN B. CONSEQUENTLY, IN ACCORDANCE WITH IRS INSTRUCTIONS, SCHEDULE D, PART IX HAS BEEN LEFT BLANK. PART XII, LINE 4B: FOR THE AUDITED FINANCIAL STATEMENTS, THE AMOUNT OF PATRONAGE DIVIDENDS PAID OR ALLOCATED TO THE MEMBERS IS REPORTED AS AN INCREASE IN EQUITY AND NOT AS AN EXPENSE. THEREFORE, NET INCOME PER THE AUDITED FINANCIAL STATEMENTS IS REPORTED GROSS OF THE AMOUNT OF PATRONAGE DIVIDENDS THAT ARE EITHER ALLOCATED OR TO BE ALLOCATED AT THE TIME THE AUDITED FINANCIAL STATEMENTS ARE PREPARED. HOWEVER, BECAUSE THE ALLOCATION OF PATRONAGE DIVIDENDS IS ONE ASPECT OF HOW THE COOPERATIVE FULFILLS ITS TAX EXEMPT PURPOSE OF OPERATING ON A COOPERATIVE BASIS, THE AMOUNT OF PATRONAGE DIVIDENDS EITHER ALLOCATED OR TO BE ALLOCATED TO THE MEMBERS IS REPORTED ON FORM 990, PART IX, LINE 4 AS "BENEFITS PAID TO MEMBERS". X X 0 0 0 KOONEY DUNCAN CEO 204403 0 507 0 1138 0 69830 0 36988 0 312866 0 0 0 DARREN FRAZIER FOREMAN 103180 0 541 0 375 0 40028 0 27143 0 171267 0 0 0 JEFFREY RECTOR AREA SERVICEMAN 100050 0 541 0 862 0 31044 0 27127 0 159624 0 0 0 KYLE BECK AREA SERVICEMAN 109779 0 541 0 208 0 21108 0 27826 0 159462 0 0 0 ISAAC BILLINGSLEY LEAD LINEMAN 105696 0 541 0 158 0 18251 0 28705 0 153351 0 0 0 PART II, COLUMN C: INCLUDED IN THIS AMOUNT IS THE INCREASE IN ACTUARIAL VALUE OF BENEFITS PAYABLE UNDER A DEFINED BENEFIT RETIREMENT PLAN. THE CONTRIBUTION RATE FOR PARTICIPANTS IN THE NRECA R&S DEFINED BENEFIT PENSION PLAN ARE THE SAME FOR ALL INDIVIDUALS IN THIS MULTI-EMPLOYER PLAN. THE CHANGE IN ACTUARIAL VALUE FOR EACH PARTICIPANT, HOWEVER, VARIES WITH AGE. IN OTHER WORDS, THE OLDER A PLAN PARTICIPANT IS, THE GREATER THE INCREASE IN THAT INDIVIDUAL'S CHANGE IN ACTUARIAL VALUE, ALL OTHER THINGS BEING EQUAL. BECAUSE THIS RELATES TO A MULTI-EMPLOYER PLAN, CASH CONTRIBUTION TO THE PLAN IN LIEU OF THE ACTUARIAL INCREASE ARE EXPENSED IN THE FINANCIAL STATEMENTS. KOONEY DUNCAN: TOTAL REPORTED IN COLUMN C $ 69,830 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (69,830) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 87,401 EXPENSE TO THE COOPERATIVE $ 87,401 DARREN FRAZIER: TOTAL REPORTED IN COLUMN C $ 40,028 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (40,028) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 33,027 EXPENSE TO THE COOPERATIVE $ 33,027 JEFFREY RECTOR: TOTAL REPORTED IN COLUMN C $ 31,044 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (31,044) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 32,116 EXPENSE TO THE COOPERATIVE $ 32,116 KYLE BECK: TOTAL REPORTED IN COLUMN C $ 21,108 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (21,108) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 32,116 EXPENSE TO THE COOPERATIVE $ 32,116 ISAAC BILLINGSLEY: TOTAL REPORTED IN COLUMN C $ 18,251 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (18,251) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 31,503 EXPENSE TO THE COOPERATIVE $ 31,503 FORM 990, PART VI, SECTION A, LINE 6 THE COOPERATIVE WAS FORMED BY THE MEMBERS TO PROVIDE ELECTRIC SERVICE AT COST ON A COOPERATIVE BASIS. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERS OF THE COOPERATIVE VOTE ON THE BOARD OF TRUSTEES. ELECTIONS ARE DONE ON A ONE MEMBER ONE VOTE BASIS. FORM 990, PART VI, SECTION A, LINE 7B THE FOLLOWING ACTS REQUIRE APPROVAL OF THE MEMBERS OF THE COOPERATIVE: 1. AMENDMENTS TO THE ARTICLES OF INCORPORATION 2. AMENDMENTS TO THE BYLAWS 3. DISPOSAL OF SUBSTANTIAL PORTION OF THE COOPERATIVE'S ASSETS 4. DISSOLUTION/LIQUIDATION OF THE COOPERATIVE 5. MERGER OR CONSOLIDATION OF THE COOPERATIVE WITH ANOTHER ORGANIZATION FORM 990, PART VI, SECTION A, LINE 8B THE COOPERATIVE HAS NO COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. THEREFORE, AND PURSUANT TO FORM 990 INSTRUCTIONS, THE QUESTION HAS BEEN ANSWERED "NO". FORM 990, PART VI, SECTION B, LINE 11B MANAGEMENT REVIEWED AND THEN PROVIDED A COPY OF THE FORM 990 TO THE BOARD FOR DISCUSSION AND REVIEW BEFORE FILING THE FORM 990. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD OF TRUSTEES AND OFFICERS ARE REQUIRED TO REVIEW AND BE FAMILIAR WITH THE POLICIES OUTLINED IN THE COOPERATIVE'S CONFLICT OF INTEREST POLICY. THE BOARD OF TRUSTEES AND OFFICERS ARE REQUIRED TO DISCLOSE ANY ACTION OR SITUATION THAT MIGHT VIOLATE THE POLICY TO THE FULL BOARD OF TRUSTEES AS SOON AS POSSIBLE. THE CONFLICT OF INTEREST POLICY IS REVIEWED ON AN ANNUAL BASIS. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF TRUSTEES ASSESS PERFORMANCE AND USE A COMPENSATION SURVEY WHEN DETERMINING THE COMPENSATION OF THE CEO. THE SURVEY SHOWS COMPARATIVE SALARIES FOR GENERAL MANAGERS FROM COOPERATIVES LOCATED IN OKLAHOMA. THE CEO ASSESSES PERFORMANCE AND USES A COMPENSATION SURVEY WHEN DETERMINING THE COMPENSATION OF THE ORGANIZATION'S OTHER EMPLOYEE OFFICERS OR KEY EMPLOYEES, IF ANY. THE SURVEY INCLUDES COMPARATIVE SALARIES FROM SIMILAR COOPERATIVES THROUGHOUT OKLAHOMA. FORM 990, PART VI, SECTION C, LINE 19 THE COOPERATIVE WILL PROVIDE A COPY OF ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND AUDITED FINANCIAL STATEMENTS TO ANY MEMBER WHO SUBMITS A REQUEST IN WRITING FOR A COPY OF SUCH DOCUMENT. ANNUALLY THE COOPERATIVE PROVIDES A COPY OF THE AUDITED BALANCE SHEET AND INCOME STATEMENT TO THE MEMBERS OF THE COOPERATIVE WITH THE ANNUAL REPORT. THE ANNUAL REPORT, BYLAWS AND AUDIT REPORT CAN BE FOUND ON THE COOPERATIVE'S WEBSITE. FORM 990, PART VII, COLUMN F: IN ORDER TO PROVIDE RETIREMENT BENEFITS TO ITS EMPLOYEES THE COOPERATIVE PARTICIPATES IN A MULTI-EMPLOYER DEFINED BENEFIT PLAN. CONTRIBUTIONS TO THIS PLAN ARE BASED ON THE FULL FUNDING LIMIATION OF THE PLAN. EMPLOYER CONTRIBUTIONS ARE AVAILABLE TO PARTICIPATING EMPLOYEES, INCLUDING EMPLOYEE OFFICERS AND HIGHLY COMPENSATED EMPLOYEES, MEETING THE ELIGIBILITY REQUIREMENTS OF THE PLAN. THE COOPERATIVE ALSO PROVIDES HEALTH BENEFITS TO ALL ELIGIBLE EMPLOYEES THROUGH A SELF-INSURANCE PLAN. THE AMOUNTS REPORTED ON PART VII, COLUMN (F) FOR EMPLOYEE OFFICERS AND HIGHLY COMPENSATED EMPLOYEES ARE COMPRISED OF THE ACTUARIAL INCREASE IN THE DEFINED BENEFIT PENSION PLAN AND THE INSURANCE PREMIUM VALUES FOR CONTRIBUTIONS MADE TO THE SELF-INSURANCE PLAN ON BEHALF OF AND FOR THEIR BENEFIT. FORM 990, PART VIII, LINE 2: PATRONAGE DIVIDENDS RESULT FROM THE PURCHASE OF WHOLESALE POWER FROM A GENERATION & TRANSMISSION COOPERATIVE. PATRONAGE DIVIDENDS ALSO RESULT FROM THE PAYMENT OF INTEREST FROM COOPERATIVE BANKS AND THE PURCHASE OF SUPPLIES AND SERVICES FROM OTHER COOPERATIVE ORGANIZATIONS. THE EXPENSES ASSOCIATED WITH PURCHASES FROM AND PAYMENTS TO SUCH COOPERATIVE ORGANIZATIONS ARE A DIRECT COMPONENT OF COST OF THE ELECTRIC SERVICE PROVIDED BY THE COOPERATIVE TO ITS MEMBERS. FORM 990, PART IX: THE ACCOUNTING RECORDS OF THE COOPERATIVE ARE MAINTAINED IN ACCORDANCE WITH THE RUS UNIFORM SYSTEM OF ACCOUNTS (USOA) PRESCRIBED FOR RUS ELECTRIC BORROWERS. THE USOA DOES NOT RECORD EXPENSES IN THE GENERAL EXPENSE CATEGORIES PROVIDED ON PART IX LINES 1-23. THE COOPERATIVE SEPARATELY REPORTS SALARIES AND WAGES, EMPLOYEE BENEFITS AND PAYROLL TAXES THAT WILL BE ALLOCATED IN ACCORDANCE WITH THEIR ACCOUNTING SYSTEM, BUT OTHER EXPENSES THAT ARE DESCRIBED IN LINES 1-23 ARE REPORTED ON LINE 24 UNDER THE EXPENSE CATEGORIES REQUIRED BY THE USOA. FORM 990, PART IX, LINE 24: ADMINISTRATIVE AND GENERAL EXPENSES IS COMPRISED OF THE FOLLOWING: ADMINISTRATIVE & GENERAL SALARIES, BENEFITS, & OTHER $ 1,039,924 EMPLOYEE PENSION AND BENEFIT 2,721 MANAGEMENT & TRAINING 239,611 DUES & SUBSCRIPTIONS 145,785 OFFICE SUPPLIES 61,397 LEASE PAYMENT 16,689 UTILITIES AND MONTHLY CHARGES 173,749 OUTSIDE SERVICES EMPLOYED 192,684 INSURANCE 98,098 ANNUAL MEETING 52,647 TRUSTEES 85,025 MAINTENANCE OF GENERAL PLANT 226,027 MISCELLANEOUS GENERAL 17,939 TOTAL ADMIN & GENERAL EXP PER FINANCIAL STATEMENTS $ 2,352,296 LESS: RECLASS OF TRUSTEE FEES TO PART IX, LINE 5 (61,950) LESS: RECLASS OF LABOR TO PART IX, LINES 5 & 7 (795,574) LESS: RECLASS OF BENEFITS TO PART IX, LINES 8-10 (431,040) TOTAL ADMIN & GENERAL EXPENSE PER FORM 990, PART IX $ 1,063,732 FORM 990, PART IX, LINES 5-7: SALARIES AND WAGES ARE ALLOCATED TO ASSET, LIABILITY, AND EXPENSE ACCOUNTS BASED ON THE ACCOUNTING SYSTEM DESCRIBED ABOVE. THE FOLLOWING SCHEDULE RECONCILES AMOUNTS REPORTED ON LINES 5-7 TO THE TOTAL WAGES ACCRUED AND/OR PAID: TOTAL PER LINES 5-7 $ 3,985,100 LESS: TRUSTEE FEES REPORTED ON FORMS 1099-NEC (61,950) LESS: EMPLOYEE OFFICER BENEFITS INCLUDED IN LINE 5 (106,818) PLUS: SALARIES AND WAGES CAPITALIZED DIRECTLY TO PLANT 1,037,472 PLUS: SALARIES AND WAGES CAPITALIZED/EXPENSED INDIRECTLY THROUGH CLEARING & OTHER ACCOUNTS 345,524 TOTAL WAGES ACCRUED AND/OR PAID $ 5,199,328 FORM 990, PART IX, LINE 4: PURSUANT TO THE FORM 990 INSTRUCTIONS, THE AMOUNT OF PATRONAGE DIVIDENDS PAID TO THE MEMBERS (HEREINAFTER REFERRED TO AS "PATRONS") SHOULD BE REPORTED ON PART IX, LINE 4. THE PHRASE "PATRONAGE DIVIDENDS PAID" REFERS TO THE PROCESS, SUBSEQUENT TO YEAR-END, BY WHICH THE COOPERATIVE ALLOCATES PATRONAGE CAPITAL TO AND, THEREFORE, OPERATES AT COST WITH ITS PATRONS. THE COOPERATIVE'S TAX EXEMPT PURPOSE IS TO PROVIDE ELECTRICITY TO ITS PATRONS AND TO DO SO ON A COOPERATIVE BASIS. TAX LAW DEFINES "OPERATING ON A COOPERATIVE BASIS" AS SUBORDINATION OF CAPITAL, DEMOCRATIC CONTROL, AND OPERATION AT COST. THE COOPERATIVE OPERATES AT COST THROUGH THE ALLOCATION OF TRUE PATRONAGE DIVIDENDS (ALSO REFERRED TO AS ALLOCATIONS OF PATRONAGE CAPITAL) TO ITS PATRONS. PATRONAGE DIVIDENDS ARE CONSIDERED PAID IF THE ALLOCATION IS MADE (1) PURSUANT TO A PRE-EXISTING OBLIGATION, (2) FROM THE MARGINS PRODUCED FROM THE TRANSACTIONS DONE WITH OR FOR PATRONS, AND (3) IN A FAIR AND EQUITABLE MANNER ON THE BASIS OF PATRONAGE (I.E. PURCHASES). ADDITIONALLY, THE ALLOCATION OF PATRONAGE DIVIDENDS SHOULD BE MADE WITHIN A REASONABLE TIME PERIOD AFTER THE CLOSE OF THE COOPERATIVE'S YEAR-END OF DECEMBER 31. EACH ONE OF THESE REQUIREMENTS FOR A TRUE PATRONAGE DIVIDEND IS PROVIDED FOR IN THE NON-PROFIT OPERATION ARTICLE OF THE COOPERATIVE'S BYLAWS. THE AMOUNT REPORTED ON PART IX, LINE 4 REPRESENTS THE AMOUNT OF PATRONAGE CAPITAL THAT IS EITHER ALLOCATED OR TO BE ALLOCATED TO THE PATRONS RESULTING FROM THEIR PURCHASE OF ELECTRICITY FROM THE COOPERATIVE FOR THE 2023 CALENDAR YEAR. BECAUSE PATRONAGE DIVIDENDS ARE THE PROCESS BY WHICH THE COOPERATIVE OPERATES AT COST WITH ITS PATRONS AND THEREBY A KEY COMPONENT TO ACCOMPLISHING ITS EXEMPT PURPOSE, THE COOPERATIVE HAS REPORTED SUCH AMOUNTS AS AN EXPENSE FOR FORM 990 REPORTING. PATRONAGE DIVIDENDS ARE NOT AN EXPENSE FOR FINANCIAL STATEMENTS PREPARED IN ACCORDANCE WITH GENERALLY ACCEPTED ACCOUNTING PRINCIPLES, HOWEVER. FORM 990, PART IX, LINE 1: ALL GRANTS, SPONSORSHIPS, AND/OR DONATIONS ARE MADE TO NON-PROFIT AND CIVIC ORGANIZATIONS, AND ARE INTENDED TO IMPROVE THE COMMUNITIES IN WHICH OUR MEMBERS RESIDE. EACH GRANT, SPONSORSHIP, AND/OR DONATION MADE DURING THE YEAR WAS BELOW THE REPORTING THRESHOLD OF SCHEDULE I, PART II. FORM 990, PART XI, LINE 9: NET CHANGE IN MEMBERSHIPS 1,915. OTHER COMPREHENSIVE INCOME - PROVISION FOR PENSION & BENEFITS -800,167. PATRONAGE CAPITAL ALLOCATED OR TO BE ALLOCATED 5,237,443. PATRONAGE CAPITAL RETIRED - TOTAL -1,837,952. PATRONAGE CAPITAL RETIRED - UNCLAIMED 825,680. DONATED CAPITAL 1,119. FORM 990, PART XII, LINE 2C: THE BOARD AS A WHOLE IS RESPONSIBLE FOR OVERSEEING THE FINANCIAL STATEMENT AUDIT AND SELECTING THE INDEPENDENT FINANCIAL STATEMENT AUDITOR. PROCEDURAL CHANGES DID NOT OCCUR DURING THE YEAR.