NATIONAL RURAL UTILITIES COOPERATIVE FINANCE CORP: Form 990, tax year 2016

View the entire original 990 at ProPublica ↗

Organization: NATIONAL RURAL UTILITIES COOPERATIVE FINANCE CORP (EIN 52-0891669)
Tax period: 2016-06-01 to 2017-05-31
Filed: 2017-10-05
IRS object ID: 201742789349301069
Schema version: 2016v3.0
Source: Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header
Form 990
Schedule D
Schedule F
Schedule I
Schedule J
Schedule L
Schedule O
Schedule R

Return header ReturnHeader

Field	Value	IRS element (for citing)
Return	2017-10-05T15:51:54-05:00	ReturnTs
Tax Period End	2017-05-31	TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

Field	Value	IRS element (for citing)
Preparer Firm EIN	135565207	PreparerFirmEIN

Preparer Firm Name PreparerFirmName

Field	Value	IRS element (for citing)
Business Name Line1	KPMG LLP	BusinessNameLine1Txt

Preparer US Address PreparerUSAddress

Field	Value	IRS element (for citing)
Address Line1	1676 INTERNATIONAL DRIVE	AddressLine1Txt
City	MCLEAN	CityNm
State Abbreviation	VA	StateAbbreviationCd
ZIP	22102	ZIPCd

Field	Value	IRS element (for citing)
Return Type	990	ReturnTypeCd
Tax Period Begin	2016-06-01	TaxPeriodBeginDt

Filer Filer

Field	Value	IRS element (for citing)
EIN	520891669	EIN

Business Name BusinessName

Field	Value	IRS element (for citing)
Business Name Line1	NATIONAL RURAL UTILITIES COOPERATIVE	BusinessNameLine1Txt
Business Name Line2	FINANCE CORPORATION	BusinessNameLine2Txt

Field	Value	IRS element (for citing)
Business Name Control	NATI	BusinessNameControlTxt
Phone	7034671800	PhoneNum

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	20701 COOPERATIVE WAY	AddressLine1Txt
City	DULLES	CityNm
State Abbreviation	VA	StateAbbreviationCd
ZIP	20166	ZIPCd

Business Officer BusinessOfficerGrp

Field	Value	IRS element (for citing)
Person	SHELDON PETERSEN	PersonNm
Person Title	GOVERNOR AND CEO	PersonTitleTxt
Phone	7034671800	PhoneNum
Signature	2017-10-05	SignatureDt
Discuss With Paid Preparer	0	DiscussWithPaidPreparerInd

Preparer Person PreparerPersonGrp

Field	Value	IRS element (for citing)
Preparer Person	NANCY T MURPHY	PreparerPersonNm
PTIN	P00482451	PTIN
Phone	7032868000	PhoneNum

Filing Security Information FilingSecurityInformation

IP Address IPAddress

Field	Value	IRS element (for citing)
I Pv4 Address	205.229.101.10	IPv4AddressTxt

Field	Value	IRS element (for citing)
IP	2017-10-05	IPDt
IP Tm	15:50:57	IPTm
IP Timezone	ED	IPTimezoneCd
Filing License Type	P	FilingLicenseTypeCd
At Submission Creation Device Id	6D1EAEB9B34B5CB2634F5CB0FBCC29C59F7131F5	AtSubmissionCreationDeviceId
At Submission Filing Device Id	6D1EAEB9B34B5CB2634F5CB0FBCC29C59F7131F5	AtSubmissionFilingDeviceId

Field	Value	IRS element (for citing)
Tax	2016	TaxYr
Build TS	2021-01-29 14:40:06Z	BuildTS

Form 990 IRS990

Field	Value	IRS element (for citing)
Principal Officer	SHELDON PETERSEN	PrincipalOfficerNm

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	20701 COOPERATIVE WAY	AddressLine1Txt
City	DULLES	CityNm
State Abbreviation	VA	StateAbbreviationCd
ZIP	20166	ZIPCd

Field	Value	IRS element (for citing)
Gross Receipts	$1,214,452,608	GrossReceiptsAmt
Group Return For Affiliates	0	GroupReturnForAffiliatesInd
Organization501c	Yes (X)	Organization501cInd
Website Address	WWW.NRUCFC.COOP	WebsiteAddressTxt
Type Of Organization Corp	Yes (X)	TypeOfOrganizationCorpInd
Formation	1969	FormationYr
Legal Domicile State	VA	LegalDomicileStateCd
Activity Or Mission	BRIDGING THE FINANCIAL NEEDS OF THE RURAL ELECTRIC COOPERATIVE NETWORK WITH GLOBAL CAPITAL MARKETS.	ActivityOrMissionDesc
Voting Members Governing Body	23	VotingMembersGoverningBodyCnt
Voting Members Independent	23	VotingMembersIndependentCnt
Total Employee	287	TotalEmployeeCnt
Total Volunteers	0	TotalVolunteersCnt
Total Gross UBI	$0	TotalGrossUBIAmt
Net Unrelated Bus Txbl Incm	$0	NetUnrelatedBusTxblIncmAmt
PY Contributions Grants	$0	PYContributionsGrantsAmt
CY Contributions Grants	$0	CYContributionsGrantsAmt
PY Program Service Revenue	$1,151,024,902	PYProgramServiceRevenueAmt
CY Program Service Revenue	$1,197,694,821	CYProgramServiceRevenueAmt
PY Investment Income	$8,189,026	PYInvestmentIncomeAmt
CY Investment Income	$11,506,304	CYInvestmentIncomeAmt
PY Other Revenue	$5,413,153	PYOtherRevenueAmt
CY Other Revenue	$5,237,552	CYOtherRevenueAmt
PY Total Revenue	$1,164,627,081	PYTotalRevenueAmt
CY Total Revenue	$1,214,438,677	CYTotalRevenueAmt
PY Grants And Similar Paid	$2,330,061	PYGrantsAndSimilarPaidAmt
CY Grants And Similar Paid	$1,201,912	CYGrantsAndSimilarPaidAmt
PY Benefits Paid To Members	$0	PYBenefitsPaidToMembersAmt
CY Benefits Paid To Members	$0	CYBenefitsPaidToMembersAmt
PY Salaries Comp Emp Bnft Paid	$44,950,187	PYSalariesCompEmpBnftPaidAmt
CY Salaries Comp Emp Bnft Paid	$48,341,939	CYSalariesCompEmpBnftPaidAmt
PY Total Prof Fndrsng Expns	$0	PYTotalProfFndrsngExpnsAmt
CY Total Prof Fndrsng Expns	$0	CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense	$0	CYTotalFundraisingExpenseAmt
PY Other Expenses	$947,593,738	PYOtherExpensesAmt
CY Other Expenses	$1,030,631,301	CYOtherExpensesAmt
PY Total Expenses	$994,873,986	PYTotalExpensesAmt
CY Total Expenses	$1,080,175,152	CYTotalExpensesAmt
PY Revenues Less Expenses	$169,753,095	PYRevenuesLessExpensesAmt
CY Revenues Less Expenses	$134,263,525	CYRevenuesLessExpensesAmt
Total Assets BOY	$24,218,773,492	TotalAssetsBOYAmt
Total Assets EOY	$25,158,878,343	TotalAssetsEOYAmt
Total Liabilities BOY	$23,421,345,166	TotalLiabilitiesBOYAmt
Total Liabilities EOY	$24,082,789,062	TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY	$797,428,326	NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY	$1,076,089,281	NetAssetsOrFundBalancesEOYAmt
Info In Schedule O Part III	Yes (X)	InfoInScheduleOPartIIIInd
Mission	TO BRIDGE THE FINANCIAL NEEDS OF THE RURAL ELECTRIC NETWORK WITH THE EXPECTATIONS OF THE GLOBAL CAPITAL MARKETS, ONE COOPERATIVE AT A TIME.	MissionDesc
Significant New Program Srvc	0	SignificantNewProgramSrvcInd
Significant Change	0	SignificantChangeInd
Expense	$994,830,056	ExpenseAmt
Grant	$1,201,912	GrantAmt
Revenue	$1,202,932,373	RevenueAmt
Desc	LENDING SERVICES:CFC PROVIDES LOANS TO ITS MEMBERS, RURAL ELECTRIC COOPERATIVES AND THEIR RELATED ORGANIZATIONS, AND GENERATES INTEREST INCOME FROM THESE LOANS. TO FUND ITS LENDING SERVICES, CFC RAISES FUNDS IN THE CAPITAL MARKETS OR PRIVATE THIRD PARTY TRANSACTIONS AND PAYS A RATE OF RETURN COMMENSURATE WITH CURRENT ECONOMIC CONDITIONS FOR THE USE OF THOSE FUNDS. THESE RAISED FUNDS PERMIT CFC TO MEET THE BORROWING NEEDS OF ITS MEMBERS SO THEY CAN CONTINUE TO PROVIDE ELECTRIC AND POWER SERVICES TO THE CONSUMERS AND BUSINESSES IN THE RURAL TERRITORIES SERVICED BY THOSE MEMBERS/BORROWERS. CFC OPERATES IN SUCH MANNER TO OBTAIN FUNDING BASED ON COST AVAILABLE TO IT AND PASSES THE COSTS AND RESULTING SAVINGS ALONG TO ITS BORROWERS. SEE SCHEDULE O FOR FUTHER INFORMATION.GRANTS: EDUCATION FUND -- EACH STATEWIDE ASSOCIATION AND ELIGIBLE REGIONAL ASSOCIATION WILL SUBMIT AN APPLICATION FORM DESCRIBING THE PROGRAM FOR WHICH THE GRANT WILL BE USED. CFC CALCULATES THE AMOUNT ALLOTTED TO EACH APPLICANT DURING THE FISCAL YEAR BASED UPON THE TOTAL NUMBER OF CO-OPS WHICH ARE MEMBERS OF CFC AND OF THE ASSOCIATION, WITH RESPECT TO STATEWIDE ASSOCIATIONS, THE NUMBER OF STATES EACH APPLICANT REPRESENTS, AND THE NUMBER OF CO-OPS THAT ARE 100% CFC BORROWERS. THE SENIOR VICE PRESIDENT OF CFC'S CORPORATE COMMUNICATIONS GROUP APPROVES THE APPLICATIONS MADE BY THE ASSOCIATIONS. INTEGRITY FUND -- UTILIZING A RESTRICTED CASH ACCOUNT, CFC MANAGES A VOLUNTARY FUND ESTABLISHED FOR THE PURPOSE OF ASSISTING COOPERATIVES IN DEFENDING THEIR COOPERATIVE TERRITORIES AND PROTECTING COOPERATIVE PRINCIPLES. OTHER ACTIVITIES:AS PART OF OUR NORMAL OPERATING ACTIVITIES AS A LENDER, WE MAY BE REQUIRED TO FORECLOSE ON ASSETS OR BUSINESS OPERATIONS OF BORROWERS WHO DEFAULT ON THEIR LOANS DUE TO US. OUR OBJECTIVE IS TO REHABILITATE THE FORECLOSED ASSETS OR BUSINESS OPERATIONS IN ORDER SELL THEM AT A PRICE THAT MAXIMIZES OUR RECOVERY ON THOSE DEFAULTED LOANS. THE INVESTMENT IN FORECLOSED ASSETS OR BUSINESS OPERATIONS DOES NOT REPRESENT A NEW OR SEPARATE LINE OF BUSINESS FOR CFC. ON JULY 1, 2016, THE SALE OF CARIBBEAN ASSET HOLDINGS (CAH) TO ATN VI HOLDINGS, LLC WAS COMPLETED. AS A RESULT, WE NO LONGER CARRY ANY FORECLOSED ASSETS ON OUR CONSOLIDATED BALANCE SHEET. OUR NET PROCEEDS AT CLOSING TOTALED $109 MILLION, WHICH REPRESENTS THE PURCHASE PRICE OF $144 MILLION LESS AGREED-UPON PURCHASE PRICE ADJUSTMENTS AS OF THE CLOSING DATE. THE NET PROCEEDS AT CLOSING WERE SUBJECT TO POST-CLOSING ADJUSTMENTS. WE RECORDED CHARGES RELATED TO CAH OF $1,748,836 IN FISCAL YEAR 2017. THIS AMOUNT INCLUDES THE COMBINED IMPACT OF ADJUSTMENTS RECORDED AT THE CLOSING DATE OF THE SALE OF CAH, POST-CLOSING PURCHASE PRICE ADJUSTMENTS AND CERTAIN LEGAL COSTS INCURRED PERTAINING TO CAH.	Desc
Total Program Service Expenses	$994,830,056	TotalProgramServiceExpensesAmt
Described In Section501c3	0	DescribedInSection501c3Ind
Schedule B Required	0	ScheduleBRequiredInd
Political Campaign Acty	0	PoliticalCampaignActyInd
Subject To Proxy Tax	0	SubjectToProxyTaxInd
Donor Advised Fund	0	DonorAdvisedFundInd
Conservation Easements	0	ConservationEasementsInd
Collections Of Art	0	CollectionsOfArtInd
Credit Counseling	0	CreditCounselingInd
Temp Or Permanent Endowments	0	TempOrPermanentEndowmentsInd
Report Land Building Equipment	Yes (1)	ReportLandBuildingEquipmentInd
Report Investments Other Sec	0	ReportInvestmentsOtherSecInd
Report Program Related Invst	0	ReportProgramRelatedInvstInd
Report Other Assets	0	ReportOtherAssetsInd
Report Other Liabilities	Yes (1)	ReportOtherLiabilitiesInd
Include FIN48 Footnote	0	IncludeFIN48FootnoteInd
Independent Audit Fincl Stmt	0	IndependentAuditFinclStmtInd
Consolidated Audit Fincl Stmt	Yes (1)	ConsolidatedAuditFinclStmtInd
School Operating	0	SchoolOperatingInd
Foreign Office	Yes (1)	ForeignOfficeInd
Foreign Activities	Yes (1)	ForeignActivitiesInd
More Than5000 K To Org	0	MoreThan5000KToOrgInd
More Than5000 K To Individuals	0	MoreThan5000KToIndividualsInd
Professional Fundraising	0	ProfessionalFundraisingInd
Fundraising Activities	0	FundraisingActivitiesInd
Gaming Activities	0	GamingActivitiesInd
Operate Hospital	0	OperateHospitalInd
Grants To Organizations	Yes (1)	GrantsToOrganizationsInd
Grants To Individuals	0	GrantsToIndividualsInd
Schedule J Required	Yes (1)	ScheduleJRequiredInd
Tax Exempt Bonds	0	TaxExemptBondsInd
Engaged In Excess Benefit Trans	0	EngagedInExcessBenefitTransInd
PY Excess Benefit Trans	0	PYExcessBenefitTransInd
Loan Outstanding	0	LoanOutstandingInd
Grant To Related Person	0	GrantToRelatedPersonInd
Business Rln With Org Mem	0	BusinessRlnWithOrgMemInd
Business Rln With Fam Mem	0	BusinessRlnWithFamMemInd
Business Rln With Officer Ent	Yes (1)	BusinessRlnWithOfficerEntInd
Deductible Non Cash Contri	0	DeductibleNonCashContriInd
Deductible Art Contribution	0	DeductibleArtContributionInd
Terminate Operations	0	TerminateOperationsInd
Partial Liquidation	0	PartialLiquidationInd
Disregarded Entity	Yes (1)	DisregardedEntityInd
Related Entity	Yes (1)	RelatedEntityInd
Related Organization Ctrl Ent	Yes (1)	RelatedOrganizationCtrlEntInd
Transaction With Control Ent	0	TransactionWithControlEntInd
Activities Conducted Prtshp	0	ActivitiesConductedPrtshpInd
Schedule O Required	Yes (1)	ScheduleORequiredInd
Info In Schedule O Part V	Yes (X)	InfoInScheduleOPartVInd
IRP Document	111	IRPDocumentCnt
IRP Document W2 G	0	IRPDocumentW2GCnt
Backup Wthld Compliance	Yes (1)	BackupWthldComplianceInd
Employee	287	EmployeeCnt
Employment Tax Returns Filed	Yes (1)	EmploymentTaxReturnsFiledInd
Unrelated Bus Incm Over Limit	0	UnrelatedBusIncmOverLimitInd
Foreign Financial Account	Yes (1)	ForeignFinancialAccountInd
Foreign Country	VI	ForeignCountryCd
Foreign Country	NN	ForeignCountryCd
Prohibited Tax Shelter Trans	0	ProhibitedTaxShelterTransInd
Taxable Party Notification	0	TaxablePartyNotificationInd
Nondeductible Contributions	Yes (1)	NondeductibleContributionsInd
Nondeductible Contri Discl	0	NondeductibleContriDisclInd
Indoor Tanning Services	0	IndoorTanningServicesInd
Info In Schedule O Part VI	Yes (X)	InfoInScheduleOPartVIInd
Governing Body Voting Members	23	GoverningBodyVotingMembersCnt
Independent Voting Member	23	IndependentVotingMemberCnt
Family Or Business Rln	0	FamilyOrBusinessRlnInd
Delegation Of Mgmt Duties	0	DelegationOfMgmtDutiesInd
Change To Org Documents	0	ChangeToOrgDocumentsInd
Material Diversion Or Misuse	0	MaterialDiversionOrMisuseInd
Members Or Stockholders	Yes (1)	MembersOrStockholdersInd
Election Of Board Members	Yes (1)	ElectionOfBoardMembersInd
Decisions Subject To Approva	Yes (1)	DecisionsSubjectToApprovaInd
Minutes Of Governing Body	Yes (1)	MinutesOfGoverningBodyInd
Minutes Of Committees	Yes (1)	MinutesOfCommitteesInd
Officer Mailing Address	0	OfficerMailingAddressInd
Local Chapters	0	LocalChaptersInd
Form990 Provided To Gvrn Body	Yes (1)	Form990ProvidedToGvrnBodyInd
Conflict Of Interest Policy	Yes (1)	ConflictOfInterestPolicyInd
Annual Disclosure Covered Prsn	Yes (1)	AnnualDisclosureCoveredPrsnInd
Regular Monitoring Enfrc	Yes (1)	RegularMonitoringEnfrcInd
Whistleblower Policy	Yes (1)	WhistleblowerPolicyInd
Document Retention Policy	Yes (1)	DocumentRetentionPolicyInd
Compensation Process CEO	Yes (1)	CompensationProcessCEOInd
Compensation Process Other	0	CompensationProcessOtherInd
Investment In Joint Venture	0	InvestmentInJointVentureInd
States Where Copy Of Return Is Fld	AZ	StatesWhereCopyOfReturnIsFldCd
States Where Copy Of Return Is Fld	GA	StatesWhereCopyOfReturnIsFldCd
Upon Request	Yes (X)	UponRequestInd

Books In Care Of Detail BooksInCareOfDetail

Business Name BusinessName

Field	Value	IRS element (for citing)
Business Name Line1	ROBERT GEIER	BusinessNameLine1Txt

Field	Value	IRS element (for citing)
Phone	7034671800	PhoneNum

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	20701 COOPERATIVE WAY	AddressLine1Txt
City	DULLES	CityNm
State Abbreviation	VA	StateAbbreviationCd
ZIP	20166	ZIPCd

Form990 Part VII Section A Form990PartVIISectionAGrp (49 entries)

TitleTitleTxt	Average Hours Per WeekAverageHoursPerWeekRt	Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd	OfficerOfficerInd	Reportable Comp From OrgReportableCompFromOrgAmt	Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt	Other CompensationOtherCompensationAmt	Key EmployeeKeyEmployeeInd	Highest Compensated EmployeeHighestCompensatedEmployeeInd	Former Ofcr Director TrusteeFormerOfcrDirectorTrusteeInd
RGRANT CLAWSON UNTIL 32017
PRESIDENT-DIRECTOR	21.00	Yes (X)	Yes (X)	$61,000	$0	$0
MIKE CAMPBELL
PRESIDENT-DIRECTOR	10.00	Yes (X)	Yes (X)	$61,000	$0	$0
HARRY N PARK
VICE PRESIDENT	18.00	Yes (X)	Yes (X)	$60,000	$0	$0
KENT D FARMER
SECRETARY-TREASURER	4.00	Yes (X)	Yes (X)	$55,000	$0	$0
PATRICK L BRIDGES
DIRECTOR	5.00	Yes (X)		$55,000	$0	$0
ROBERT BROCKMAN
DIRECTOR	10.00	Yes (X)		$55,000	$0	$0
PHILLIP A CARSON
DIRECTOR	3.00	Yes (X)		$55,000	$0	$0
MEL COLEMAN UNTIL 32017
DIRECTOR	6.00	Yes (X)		$55,000	$0	$0
ROMAN EGILLEN
DIRECTOR	8.00	Yes (X)		$55,000	$0	$0
DOYLE JAY HANSON
DIRECTOR	5.00	Yes (X)		$55,000	$0	$0
THOMAS L HAYES
DIRECTOR	6.50	Yes (X)		$55,000	$0	$0
ROBERT MHILL
DIRECTOR	24.00	Yes (X)		$55,000	$0	$0
JIMMY A LAFOY
DIRECTOR	10.60	Yes (X)		$55,000	$0	$0
CURTIN RRAKESTRAW II
DIRECTOR	10.00	Yes (X)		$55,000	$0	$0
BRADLEY J SCHARDIN
DIRECTOR	6.00	Yes (X)		$55,000	$0	$0
MARK D SNOWDEN
DIRECTOR	10.00	Yes (X)		$55,000	$0	$0
DEAN R TESCH
DIRECTOR	8.00	Yes (X)		$55,000	$0	$0
KIRK A THOMPSON UNTIL 32017
DIRECTOR	15.00	Yes (X)		$55,000	$0	$0
STEPHEN C VAIL
DIRECTOR	9.00	Yes (X)		$55,000	$0	$0
TODD P WARE
DIRECTOR	4.00	Yes (X)		$55,000	$0	$0
GREGORY D WILLIAMS
DIRECTOR	4.00	Yes (X)		$55,000	$0	$0
DEBRA L ROBINSON
DIRECTOR	4.00	Yes (X)		$45,833	$0	$0
ALAN W WATTLES
DIRECTOR	3.00	Yes (X)		$45,833	$0	$0
MARSHA L THOMPSON BEGIN 32017
DIRECTOR	0.00	Yes (X)		$0	$0	$0
BRUCE A VITOSH BEGIN 32017
DIRECTOR	0.00	Yes (X)		$0	$0	$0
CURTIS WYNN BEGIN 32017
DIRECTOR	0.00	Yes (X)		$0	$0	$0
SHELDON C PETERSEN
GOVERNOR AND CEO	62.00		Yes (X)	$1,703,319	$0	$107,690
JOHN T EVANS
EVP & COO	61.00		Yes (X)	$798,819	$0	$109,472
STEVEN L LILLY UNTIL 92016
SVP, SPECIAL ASSET MANAGEMENT	47.00		Yes (X)	$833,436	$0	$12,248
JONATHON ANDREW DON
SVP AND CFO	65.00		Yes (X)	$553,092	$0	$238,324
ROBERTA B ARONSON
SVP AND GENERAL COUNSEL	55.00		Yes (X)	$471,422	$0	$179,374
JOEL ALLEN
SVP, MEMBER SERVICES GROUP	50.00		Yes (X)	$405,186	$0	$187,136
JOHN M BORAK
SVP, CREDIT RISK MANAGEMENT	62.00		Yes (X)	$340,496	$0	$124,025
ROBIN REED
SVP, MEMBER SERVICES GROUP	50.00		Yes (X)	$364,836	$0	$144,810
STEVEN M KETTLER
SVP, STRATEGIC SERVICES	66.00		Yes (X)	$349,389	$0	$160,634
GRACEANN CLENDENEN
SVP, CORPORATE SERVICES	50.00		Yes (X)	$355,436	$0	$225,668
BRAD CAPTAIN
SVP, CORPORATE RELATIONS	55.00		Yes (X)	$325,873	$0	$84,676
GREGORY STARHEIM
SVP, BUSINESS & INDUSTRY DEVELOPMENT	60.00		Yes (X)	$540,269	$0	$235,947
DANIEL W CAWOOD
VP, PORTFOLIO MANAGEMENT	50.00			$235,862	$0	$57,628	Yes (X)
LAWRENCE SAUNDERS
VP, PORTFOLIO MANAGEMENT	50.00			$299,521	$0	$59,254	Yes (X)
BRUCE E MACNEIL
VP, CAPITAL MARKET FUNDING	45.00			$283,311	$0	$60,539	Yes (X)
AMY S LUONGO
VP, PORTFOLIO MANAGEMENT	45.00			$264,490	$0	$58,390	Yes (X)
ALLYN J AMATO
VP AND DEPUTY GENERAL COUNSEL	48.00			$345,427	$0	$85,555		Yes (X)
RICHARD PERREAULT
VP AND CIO	40.00			$329,493	$0	$58,280		Yes (X)
KRISHNA MURTHY
VP, ELECTRIC AND ENERGY INDUSTRY ANALYSIS	45.00			$303,870	$0	$85,603		Yes (X)
ROBERT E GEIER JR
VP AND CONTROLLER	60.00			$314,093	$0	$97,308		Yes (X)
GARY A BRADBURY
VP, INTERNAL AUDIT AND ERM	48.00			$298,057	$0	$64,151		Yes (X)
RAY BEAVERS
FORMER DIRECTOR	0.00			$10,167	$0	$0			Yes (X)
JOHN J LIST UNTIL 92015
FORMER SVP	0.00			$133,124	$0	$0			Yes (X)

Field	Value	IRS element (for citing)
Total Reportable Comp From Org	$11,122,654	TotalReportableCompFromOrgAmt
Tot Reportable Comp Rltd Org	$0	TotReportableCompRltdOrgAmt
Total Other Compensation	$2,436,712	TotalOtherCompensationAmt
Indiv Rcvd Greater Than100 K	149	IndivRcvdGreaterThan100KCnt
Former Ofcr Employees Listed	Yes (1)	FormerOfcrEmployeesListedInd
Total Comp Greater Than150 K	Yes (1)	TotalCompGreaterThan150KInd
Compensation From Other Srcs	0	CompensationFromOtherSrcsInd

Contractor Compensation ContractorCompensationGrp (5 entries)

Address Line1ContractorAddress/USAddress/AddressLine1Txt	CityContractorAddress/USAddress/CityNm	State AbbreviationContractorAddress/USAddress/StateAbbreviationCd	ZIPContractorAddress/USAddress/ZIPCd	ServicesServicesDesc	CompensationCompensationAmt
EPLUS TECHNOLOGY INC
13595 DULLES TECHNOLOGY DR	HERNDON	VA	20171	IT SERVICES	$4,462,202
CORPORATE BROKERS LLC
170 JENNIFER RD	ANNAPOLIS	MD	21401	IT SERVICES	$2,559,589
CASSIOPAE US INC
1 VAN DE GRAAFF DR	BURLINGTON	MA	01803	IT SERVICES	$2,471,700
DIGITAL INTELLIGENCE SYSTEMS LLC
8270 GREENSBORO DR	MCLEAN	VA	22102	IT SERVICES	$2,385,323
STRATEGEIT SOLUTIONS LLC
13800 COPPERMINE RD	HERNDON	VA	20171	IT SERVICES	$1,922,946

Field	Value	IRS element (for citing)
Cntrct Rcvd Greater Than100 K	69	CntrctRcvdGreaterThan100KCnt

Program Service Revenue ProgramServiceRevenueGrp (4 entries)

DescDesc	BusinessBusinessCd	Total Revenue ColumnTotalRevenueColumnAmt	Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt
INTEREST FROM PSA	522299	$1,014,955,603	$1,014,955,603
DERIVATIVE CASH SETTLEMENTS	522299	$163,688,902	$163,688,902
OTHER INCOME-LOAN FEES	522299	$18,858,198	$18,858,198
GAIN ON EARLY EXTINGUISHMENT OF D	522299	$192,118	$192,118

Field	Value	IRS element (for citing)
Total Program Service Revenue	$1,197,694,821	TotalProgramServiceRevenueAmt

Investment Income InvestmentIncomeGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$11,461,028	TotalRevenueColumnAmt
Exclusion	$11,461,028	ExclusionAmt

Gross Amount Sales Assets GrossAmountSalesAssetsGrp

Field	Value	IRS element (for citing)
Other	$59,207	OtherAmt

Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp

Field	Value	IRS element (for citing)
Other	$13,931	OtherAmt

Gain Or Loss GainOrLossGrp

Field	Value	IRS element (for citing)
Other	$45,276	OtherAmt

Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$45,276	TotalRevenueColumnAmt
Exclusion	$45,276	ExclusionAmt

Other Revenue Misc OtherRevenueMiscGrp (2 entries)

DescDesc	BusinessBusinessCd	Total Revenue ColumnTotalRevenueColumnAmt	Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt
MANAGEMENT FEES	522299	$4,412,600	$4,412,600
INTEGRITY FUND COLLECTIONS FROM M	522299	$824,952	$824,952

Field	Value	IRS element (for citing)
Other Revenue Total	$5,237,552	OtherRevenueTotalAmt

Total Revenue TotalRevenueGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$1,214,438,677	TotalRevenueColumnAmt
Related Or Exempt Func Income	$1,202,932,373	RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue	$0	UnrelatedBusinessRevenueAmt
Exclusion	$11,506,304	ExclusionAmt

Grants To Domestic Orgs GrantsToDomesticOrgsGrp

Field	Value	IRS element (for citing)
Total	$1,201,912	TotalAmt
Program Services	$1,201,912	ProgramServicesAmt

Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp

Field	Value	IRS element (for citing)
Total	$9,753,781	TotalAmt
Management And General	$9,753,781	ManagementAndGeneralAmt

Comp Disqual Persons CompDisqualPersonsGrp

Field	Value	IRS element (for citing)
Total	$77,113	TotalAmt
Management And General	$77,113	ManagementAndGeneralAmt

Other Salaries And Wages OtherSalariesAndWagesGrp

Field	Value	IRS element (for citing)
Total	$27,737,570	TotalAmt
Management And General	$27,737,570	ManagementAndGeneralAmt

Pension Plan Contributions PensionPlanContributionsGrp

Field	Value	IRS element (for citing)
Total	$5,921,147	TotalAmt
Management And General	$5,921,147	ManagementAndGeneralAmt

Other Employee Benefits OtherEmployeeBenefitsGrp

Field	Value	IRS element (for citing)
Total	$3,025,692	TotalAmt
Management And General	$3,025,692	ManagementAndGeneralAmt

Payroll Taxes PayrollTaxesGrp

Field	Value	IRS element (for citing)
Total	$1,826,636	TotalAmt
Management And General	$1,826,636	ManagementAndGeneralAmt

Fees For Services Legal FeesForServicesLegalGrp

Field	Value	IRS element (for citing)
Total	$1,274,120	TotalAmt
Management And General	$1,274,120	ManagementAndGeneralAmt

Fees For Services Accounting FeesForServicesAccountingGrp

Field	Value	IRS element (for citing)
Total	$1,338,550	TotalAmt
Management And General	$1,338,550	ManagementAndGeneralAmt

Fees For Services Other FeesForServicesOtherGrp

Field	Value	IRS element (for citing)
Total	$6,045,600	TotalAmt
Management And General	$6,045,600	ManagementAndGeneralAmt

Advertising AdvertisingGrp

Field	Value	IRS element (for citing)
Total	$1,186,673	TotalAmt
Management And General	$1,186,673	ManagementAndGeneralAmt

Office Expenses OfficeExpensesGrp

Field	Value	IRS element (for citing)
Total	$1,151,753	TotalAmt
Management And General	$1,151,753	ManagementAndGeneralAmt

Information Technology InformationTechnologyGrp

Field	Value	IRS element (for citing)
Total	$4,845,311	TotalAmt
Management And General	$4,845,311	ManagementAndGeneralAmt

Occupancy OccupancyGrp

Field	Value	IRS element (for citing)
Total	$2,893,675	TotalAmt
Management And General	$2,893,675	ManagementAndGeneralAmt

Travel TravelGrp

Field	Value	IRS element (for citing)
Total	$2,914,131	TotalAmt
Management And General	$2,914,131	ManagementAndGeneralAmt

Conferences Meetings ConferencesMeetingsGrp

Field	Value	IRS element (for citing)
Total	$4,229,660	TotalAmt
Management And General	$4,229,660	ManagementAndGeneralAmt

Interest InterestGrp

Field	Value	IRS element (for citing)
Total	$985,873,080	TotalAmt
Program Services	$985,873,080	ProgramServicesAmt

Depreciation Depletion DepreciationDepletionGrp

Field	Value	IRS element (for citing)
Total	$7,173,286	TotalAmt
Management And General	$7,173,286	ManagementAndGeneralAmt

Insurance InsuranceGrp

Field	Value	IRS element (for citing)
Total	$631,068	TotalAmt
Management And General	$631,068	ManagementAndGeneralAmt

Other Expenses OtherExpensesGrp (4 entries)

DescDesc	TotalTotalAmt	Program ServicesProgramServicesAmt	Management And GeneralManagementAndGeneralAmt
PROVISION FOR LOAN LOSS	$5,982,314	$5,982,314
FORECLOSED ASSETS	$1,748,836	$1,748,836
DUES, SUBSCRIPTIONS & R	$424,525		$424,525
BANK FEES	$329,779		$329,779

All Other Expenses AllOtherExpensesGrp

Field	Value	IRS element (for citing)
Total	$2,588,940	TotalAmt
Program Services	$23,914	ProgramServicesAmt
Management And General	$2,565,026	ManagementAndGeneralAmt

Total Functional Expenses TotalFunctionalExpensesGrp

Field	Value	IRS element (for citing)
Total	$1,080,175,152	TotalAmt
Program Services	$994,830,056	ProgramServicesAmt
Management And General	$85,345,096	ManagementAndGeneralAmt
Fundraising	$0	FundraisingAmt

Cash Non Interest Bearing CashNonInterestBearingGrp

Field	Value	IRS element (for citing)
BOY	$58,222,228	BOYAmt
EOY	$81,618,633	EOYAmt

Savings And Temp Cash Invst SavingsAndTempCashInvstGrp

Field	Value	IRS element (for citing)
BOY	$149,062,209	BOYAmt
EOY	$105,450,289	EOYAmt

Accounts Receivable AccountsReceivableGrp

Field	Value	IRS element (for citing)
BOY	$161,415,450	BOYAmt
EOY	$153,226,231	EOYAmt

Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp

Field	Value	IRS element (for citing)
BOY	$23,089,635,112	BOYAmt
EOY	$24,293,011,073	EOYAmt

Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp

Field	Value	IRS element (for citing)
BOY	$6,000,341	BOYAmt
EOY	$6,364,278	EOYAmt

Field	Value	IRS element (for citing)
Land Bldg Equip Cost Or Other Bss	$163,534,754	LandBldgEquipCostOrOtherBssAmt
Land Bldg Equip Accum Deprec	$41,274,296	LandBldgEquipAccumDeprecAmt

Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp

Field	Value	IRS element (for citing)
BOY	$112,562,441	BOYAmt
EOY	$122,260,458	EOYAmt

Investments Pub Traded Sec InvestmentsPubTradedSecGrp

Field	Value	IRS element (for citing)
BOY	$33,690,365	BOYAmt
EOY	$4,879,405	EOYAmt

Investments Other Securities InvestmentsOtherSecuritiesGrp

Field	Value	IRS element (for citing)
BOY	$394,250,000	BOYAmt
EOY	$313,675,200	EOYAmt

Investments Program Related InvestmentsProgramRelatedGrp

Field	Value	IRS element (for citing)
BOY	$102,967,376	BOYAmt
EOY	$0	EOYAmt

Other Assets Total OtherAssetsTotalGrp

Field	Value	IRS element (for citing)
BOY	$110,967,970	BOYAmt
EOY	$78,392,776	EOYAmt

Total Assets TotalAssetsGrp

Field	Value	IRS element (for citing)
BOY	$24,218,773,492	BOYAmt
EOY	$25,158,878,343	EOYAmt

Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp

Field	Value	IRS element (for citing)
BOY	$3,089,268,167	BOYAmt
EOY	$3,498,502,318	EOYAmt

Deferred Revenue DeferredRevenueGrp

Field	Value	IRS element (for citing)
BOY	$75,394,170	BOYAmt
EOY	$72,123,351	EOYAmt

Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp

Field	Value	IRS element (for citing)
BOY	$14,347,801,230	BOYAmt
EOY	$15,145,818,256	EOYAmt

Unsecured Notes Loans Payable UnsecuredNotesLoansPayableGrp

Field	Value	IRS element (for citing)
BOY	$5,299,823,893	BOYAmt
EOY	$4,961,074,462	EOYAmt

Other Liabilities OtherLiabilitiesGrp

Field	Value	IRS element (for citing)
BOY	$609,057,706	BOYAmt
EOY	$405,270,675	EOYAmt

Total Liabilities TotalLiabilitiesGrp

Field	Value	IRS element (for citing)
BOY	$23,421,345,166	BOYAmt
EOY	$24,082,789,062	EOYAmt

Field	Value	IRS element (for citing)
Org Does Not Follow SFAS117	Yes (X)	OrgDoesNotFollowSFAS117Ind

Cap Stk Tr Prin Current Funds CapStkTrPrinCurrentFundsGrp

Field	Value	IRS element (for citing)
BOY	$974,200	BOYAmt
EOY	$970,800	EOYAmt

Pd In Cap Srpls Land Bldg Eqp Fund PdInCapSrplsLandBldgEqpFundGrp

Field	Value	IRS element (for citing)
BOY	$0	BOYAmt
EOY	$0	EOYAmt

Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp

Field	Value	IRS element (for citing)
BOY	$796,454,126	BOYAmt
EOY	$1,075,118,481	EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

Field	Value	IRS element (for citing)
BOY	$797,428,326	BOYAmt
EOY	$1,076,089,281	EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

Field	Value	IRS element (for citing)
BOY	$24,218,773,492	BOYAmt
EOY	$25,158,878,343	EOYAmt

Field	Value	IRS element (for citing)
Info In Schedule O Part XI	Yes (X)	InfoInScheduleOPartXIInd
Reconcilation Revenue Expnss	$134,263,525	ReconcilationRevenueExpnssAmt
Net Unrlzd Gains Losses Invst	$4,614,240	NetUnrlzdGainsLossesInvstAmt
Other Changes In Net Assets	$139,783,190	OtherChangesInNetAssetsAmt
Info In Schedule O Part XII	Yes (X)	InfoInScheduleOPartXIIInd
Method Of Accounting Accrual	Yes (X)	MethodOfAccountingAccrualInd
Accountant Compile Or Review	0	AccountantCompileOrReviewInd
FS Audited	Yes (1)	FSAuditedInd

FS Audited Basis FSAuditedBasisGrp

Field	Value	IRS element (for citing)
Consolidated Basis Fincl Stmt	Yes (X)	ConsolidatedBasisFinclStmtInd

Field	Value	IRS element (for citing)
Audit Committee	Yes (1)	AuditCommitteeInd
Federal Grant Audit Required	0	FederalGrantAuditRequiredInd

Schedule D IRS990ScheduleD

Land LandGrp

Field	Value	IRS element (for citing)
Investment Cost Or Other Basis	$14,051,198	InvestmentCostOrOtherBasisAmt
Other Cost Or Other Basis	$23,795,972	OtherCostOrOtherBasisAmt
Book Value	$37,847,170	BookValueAmt

Buildings BuildingsGrp

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	$56,087,617	OtherCostOrOtherBasisAmt
Depreciation	$14,288,539	DepreciationAmt
Book Value	$41,799,078	BookValueAmt

Other Land Buildings OtherLandBuildingsGrp

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	$69,599,967	OtherCostOrOtherBasisAmt
Depreciation	$26,985,757	DepreciationAmt
Book Value	$42,614,210	BookValueAmt

Field	Value	IRS element (for citing)
Total Book Value Land Buildings	$122,260,458	TotalBookValueLandBuildingsAmt

Other Liabilities Org OtherLiabilitiesOrgGrp (4 entries)

DescDesc	AmtAmt
GUARANTEE LIABILITY	$15,240,475
OTHER ACCRUED EXPENSES	$15,548,155
CREDIT LOSSES ALLOWANCE	$108,000
DERIVATIVE LIABILITY	$374,374,045

Field	Value	IRS element (for citing)
Total Liability	$405,270,675	TotalLiabilityAmt

Schedule F IRS990ScheduleF

Account Activities Outside US AccountActivitiesOutsideUSGrp

Field	Value	IRS element (for citing)
Region	CENTRAL AMERICA AND THE CARIBBEAN -	RegionTxt
Offices	0	OfficesCnt
Employee	0	EmployeeCnt
Type Of Activities Conducted	INVESTMENT	TypeOfActivitiesConductedTxt

Field	Value	IRS element (for citing)
Subtotal Offices	0	SubtotalOfficesCnt
Subtotal Employees	0	SubtotalEmployeesCnt
Continutation Total Office	0	ContinutationTotalOfficeCnt
Continutation Total Employee	0	ContinutationTotalEmployeeCnt
Total Office	0	TotalOfficeCnt
Total Employee	0	TotalEmployeeCnt
Subtotal Spent	$0	SubtotalSpentAmt
Continuation Spent	$0	ContinuationSpentAmt
Total Spent	$0	TotalSpentAmt
Transfer To Foreign Corp	Yes (1)	TransferToForeignCorpInd
Interest In Foreign Trust	0	InterestInForeignTrustInd
Foreign Corp Ownership	Yes (1)	ForeignCorpOwnershipInd
Passive Foreign Investmest Co	0	PassiveForeignInvestmestCoInd
Foreign Partnership	0	ForeignPartnershipInd
Boycott Countries	0	BoycottCountriesInd

Supplemental Information Detail SupplementalInformationDetail

Field	Value	IRS element (for citing)
Form And Line Reference	PART I, LINE 3 COLUMN (F)	FormAndLineReferenceDesc
Explanation	CFC FOLLOWS U.S. GAAP ACCOUNTING. THE AMOUNT REPORTED IN PART I, COLUMN (F) REPRESENTS THE CARRYING VALUE, NET OF EARNINGS AND/OR IMPAIRMENT CHARGES OF CFC'S INVESTMENT IN ORGANIZATIONS IN FOREIGN COUNTRIES AS OF THE END OF THE TAX YEAR AND DOES NOT REFLECT EXPENDITURES MADE BY CFC INTO THESE COUNTRIES. ON JULY 1, 2016, CFC COMPLETED THE SALE OF ALL INVESTMENTS IN ORGANIZATIONS IN FOREIGN COUNTRIES. AS A RESULT, WE NO LONGER HOLD ANY FOREIGN ASSETS ON OUR BALANCE SHEET.	ExplanationTxt

Schedule I IRS990ScheduleI

Field	Value	IRS element (for citing)
Grant Records Maintained	Yes (1)	GrantRecordsMaintainedInd

Recipient Table RecipientTable (51 entries)

Address Line1USAddress/AddressLine1Txt	CityUSAddress/CityNm	State AbbreviationUSAddress/StateAbbreviationCd	ZIPUSAddress/ZIPCd	Recipient EINRecipientEIN	IRC SectionIRCSectionDesc	Cash GrantCashGrantAmt	Purpose Of GrantPurposeOfGrantTxt
BLUEBONNET ELECTRIC COOPERATIVE
PO BOX 729	BASTROP	TX	78602	740754103	501(C)(12)	$52,497	INTEGRITY FUND - TERRITORY THREAT
BON HOMME YANKTON ELECTRIC ASSOCIATION
PO BOX 158	TABOR	SD	570630158	460211846	501(C)(12)	$12,100	INTEGRITY FUND - TERRITORY THREAT
CAPITAL ELECTRIC COOPERATIVE
PO BOX 730	BISMARCK	ND	585020730	450217628	501(C)(12)	$12,187	INTEGRITY FUND - TERRITORY THREAT
DELTA-MONTROSE ELECTRIC ASSOCIATION
PO BOX 910	MONTROSE	CO	81402	840185658	501(C)(12)	$15,755	INTEGRITY FUND - TERRITORY THREAT
DIXIE ELECTRIC COOPERATIVE
PO BOX 242189	MONTGOMERY	AL	36124	630059155	501(C)(12)	$25,000	INTEGRITY FUND - TERRITORY THREAT
HOLMES-WAYNE ELECTRIC COOPERATIVE
PO BOX 112	MILLERSBURG	OH	44654	340294570	501(C)(12)	$8,448	INTEGRITY FUND - TERRITORY THREAT
JACKSON ELECTRIC MEMBERSHIP CORPORATION
PO BOX 38	JEFFERSON	GA	30549	580301471	501(C)(12)	$101,914	INTEGRITY FUND - TERRITORY THREAT
PKM ELECTRIC COOPERATIVE
PO BOX 108	WARREN	MN	56762	410484875	501(C)(12)	$23,900	INTEGRITY FUND - TERRITORY THREAT
SOUTH DAKOTA RURAL ELECTRIC ASSOCIATION
PO BOX 1138	PIERRE	SD	57501	460231254	501(C)(12)	$9,200	INTEGRITY FUND - TERRITORY THREAT
SUMTER ELECTRIC COOPERATIVE
PO BOX 301	SUMTERVILLE	FL	335850301	590469125	501(C)(12)	$37,868	INTEGRITY FUND - TERRITORY THREAT
THE CENTRAL GEORGIA ELECTRIC MEMBERSHIP
923 SOUTH MULBERRY STREET	JACKSON	GA	30233	580187885	501(C)(12)	$32,262	INTEGRITY FUND - TERRITORY THREAT
ALASKA POWER ASSOCIATION
703 WEST TUDOR ROAD SUITE 200	ANCHORAGE	AK	995036650	920069880	501 (C)(6)	$15,200	EDUCATIONAL FUND-NRECA YOUTH TOUR OF WASHINGTON, DC
ALABAMA RURAL ELECTRIC ASSOCIATION OF COOPERATIVES
PO BOX 244014	MONTGOMERY	AL	361244014	630264081	501 (C)(6)	$16,200	EDUCATIONAL FUND-AREA SUMMER CONFERENCE
ARKANSAS ELECTRIC COOPERATIVES
PO BOX 194208	LITTLE ROCK	AR	72219	710219756	501 (C)(12)	$27,200	EDUCATIONAL FUND-ORIENTATION TO COOPERATIVE PRINCIPLES & LEADERSHIP
ASSOCIATION OF ILLINOIS ELECTRIC COOPERATIVES
PO BOX 3787	SPRINGFIELD	IL	627083787	370159736	502 (C)(6)	$23,200	EDUCATIONAL FUND-SERVICE EXCELLENCE-POWERING THE CO-OP LEGACY
ASSOCIATION OF MISSOURI ELECTRIC COOPERATIVES
PO BOX 1645	JEFFERSON CITY	MO	65102	430631824	501 (C)(6)	$29,600	EDUCATIONAL FUND-MO COOPERATIVE YOUTH CONFERENCE & YOUTH TOUR
COLORADO RURAL ELECTRIC ASSOCIATION
5400 NORTH WASHINGTON STREET	DENVER	CO	80216	840411220	501 (C)(6)	$15,600	EDUCATIONAL FUND-DIRECTOR COURSES; WASHINGTON YOUTH TOUR
ELECTRIC POWER ASSOCIATIONS OF MISSISSIPPI
PO BOX 3300	RIDGELAND	MS	391583300	640200697	501 (C)(6)	$16,400	EDUCATIONAL FUND-ELECTRIC COOPERATIVE YOUTH TOUR
FLORIDA ELECTRIC COOPERATIVES ASSOCIATION INC
2916 APALACHEE PARKWAY	TALLAHASSEE	FL	32301	590633990	501 (C)(6)	$12,400	EDUCATIONAL FUND-FECA SUMMER LEADERSHIP CONFERENCE
GEORGIA ELECTRIC MEMBERSHIP CORPORATION
PO BOX 1707	TUCKER	GA	300851707	580530279	501 (C)(6)	$25,400	EDUCATIONAL FUND-SUNBELT AG EXPO EDUCATION EXHIBIT
GOLDEN STATE POWER COOPERATIVE
14619 HAMLIN STREET	VAN NUYS	CA	91411	680441905	501 (C)(6)	$5,600	EDUCATIONAL FUND-ENERGY COOPERATIVE DEVELOPMENT & EDUCATION
GRAND CANYON STATE ELECTRIC COOPERATIVE ASSOCIATION
120 NORTH 44TH STREET	PHOENIX	AZ	85034	866056759	501 (C)(6)	$12,200	EDUCATIONAL FUND-AZ/CA WASHINGTON YOUTH TOUR
IDAHO CONSUMER OWQNED UTILITIES ASSOCIATION
407 WEST JEFFERSON ST	BOISE	ID	83702	820502739	501 (C)(6)	$11,400	EDUCATIONAL FUND-ICUA YOUTH RALLY & ICUA MEMBERS CONFERENCE
INDIANA STATEWIDE ASSOCIATION OF RURAL ELECTRIC COOPERATIVES INC
PO BOX 24517	INDIANAPOLIS	IN	46224	351499808	501 (C)(6)	$27,000	EDUCATIONAL FUND-EMPLOYEE TRAINING, BOARD DEVELOPMENT & MEMBER EDUCATION
IOWA ASSOCIATION OF ELECTRIC COOPERATIVES
8525 DOUGLAS AVENUE STE 48	URBANDALE	IA	503222992	420662488	501 (C)(6)	$26,600	EDUCATIONAL FUND-LIVING WITH ENERGY IN IOWA, ARTICLES
KANSAS ELECTRIC COOPERATIVES INC
PO BOX 4267	TOPEKA	KS	666044267	480541902	501 (C)(12)	$20,400	EDUCATIONAL FUND-KEC LEADERSHIP ACADEMY
KENTUCKY ASSOCIATION OF ELECTRIC COOPERATIVES
PO BOX 32170	LOUISVILLE	KY	40232	610420165	501 (C)(6)	$15,600	EDUCATIONAL FUND-SUPERVISORY CERTIFICATE & MANAGEMENT ESSENTIALS
MICHIGAN ELECTRIC COOPERATIVE ASSOCIATION
2859 W JOLLY ROAD	OKEMOS	MI	488641182	382214287	501 (C)(6)	$9,600	EDUCATIONAL FUND-RURAL ELECTRIC YOUTH TOUR TO WASHGTON, D.C.
MINNESOTA RURAL ELECTRIC ASSOCIATION
11640 - 73RD AVENUE NORTH	MAPLE GROVE	MN	55369	410417193	501 (C)(6)	$25,000	EDUCATIONAL FUND-BOARD LEADERSHIP CERTIFICATION (BLC) COURSES
MONTANA ELECTRIC COOPERATIVES' ASSOCIATION
PO BOX 1306	GREAT FALLS	MT	59403	810229220	501 (C)(6)	$17,400	EDUCATIONAL FUND-THE TODAY'S MEMBERS PROGRAM
NEBRASKA RURAL ELECTRIC ASSOCIATION
PO BOX 82048	LINCOLN	NE	68501	470394033	501 (C)(6)	$18,200	EDUCATIONAL FUND-NEBRASKA RURAL ELECTRIC WASHINGTON YOUTH TOUR
NEVADA RURAL ELECTRIC ASSOCIATION
PO BOX 365	WELLS	NV	89835	880237046	501 (C)(6)	$8,600	EDUCATIONAL FUND-STATEWIDE SMART ENERGY PROGRAM
NEW MEXICO RURAL ELECTRIC COOPERATIVE ASSOCIATION INC
614 DON GASPAR AVENUE	SANTA FE	NM	87501	850155370	501 (C)(6)	$10,400	EDUCATIONAL FUND-NRECA CREDENTIALED COOPERATIVE DIRECTOR COURSES
NEW YORK STATE RURAL ELECTRIC COOPERATIVE ASSOCIATION INC
9 WILSON AVENUE	HARTWICK	NY	14810	161264464	501 (C)(6)	$6,200	EDUCATIONAL FUND-STUDENT PARTICIPATION - NRECA LEG. CONFERENCE
NORTH CAROLINA ASSOCIATION OF ELECTRIC COOPERATIVES INC
PO BOX 27306	RALEIGH	NC	27611	561189186	501 (C)(6)	$17,200	EDUCATIONAL FUND-BRIGHT IDEAS EDUCATION GRANT PROGRAM
NORTHEAST ASSOCIATION OF ELECTRIC COOPERATIVES INC
9 WILSON AVENUE	BATH	NY	148101633	222153529	501 (C)(12)	$15,400	EDUCATIONAL FUND-CONTINUING EDUCATION FOR DIRECTORS AND EMPLOYEES
OHIO RURAL ELECTRIC COOPERATIVES
PO BOX 26036	COLUMBUS	OH	432260036	510174617	501 (C)(6)	$21,400	EDUCATIONAL FUND-NRECA COURSES, ASSOC. MGMT & ORIENTATION PROGRAMS
OKLAHOMA ASSOCIATION OF ELECTRIC COOPERATIVES INC
PO BOX 54309	OKLAHOMA CITY	OK	731541309	730556236	501 (C)(6)	$18,000	EDUCATIONAL FUND-YOUTH TOUR PROMOTIONAL MATERIALS & T-SHIRTS
OREGON RURAL ELECTRIC COOPERATIVE ASSOCIATION
1750 LIBERTY ST SE	SALEM	OR	97302	930593238	501 (C)(6)	$20,000	EDUCATIONAL FUND-LEGISLATOR OUTREACH PROGRAM & DIR. CONFERENCE
PENNSYLVANIA RURAL ELECTRIC ASSOCIATION
PO BOX 1266	HARRISBURG	PA	171081266	236291530	501 (C)(6)	$20,400	EDUCATIONAL FUND-PREA COMMUNICATIONS WORKSHOP
SOUTH DAKOTA RURAL ELECTRIC ASSOCIATION INC
PO BOX 1138	PIERRE	SD	57501	460231254	501 (C)(12)	$16,200	EDUCATIONAL FUND-YOUTH EXCURSION
TENNESSEE ELECTRIC COOPERATIVE ASSOCIATION
PO BOX 100912	NASHVILLE	TN	37224	620461379	501 (C)(6)	$13,200	EDUCATIONAL FUND-YOUTH LEADERSHIP SUMMIT
TEXAS ELECTRIC COOPERATIVES INC
1122 COLORADO ST STE 2400	AUSTIN	TX	787012167	741007829	277	$47,800	EDUCATIONAL FUND-EDUCATION AND TRAINING CATALOG
THE ASSOCIATION OF LOUISIANA ELECTRIC COOPERATIVES INC
10725 AIRLINE HIGHWAY	BATON ROUGE	LA	708164299	720400467	501 (C)(6)	$9,800	EDUCATIONAL FUND-LOUISIANA ELECTRIC COOPERATIVES YOUTH TOUR
THE ELECTRIC COOPERATIVES OF SOUTH CAROLINA INC
808 KNOX ABBOTT DRIVE	CAYCE	SC	29033	570308664	502 (C)(6)	$15,800	EDUCATIONAL FUND-NRECA TRAINING COURSES (STATEWIDE BASIS)
UTAH RURAL ELECTRIC ASSOCIATION
10714 SOUTH JORDAN GATEWAY	SOUTH JORDAN	UT	84095	870402010	501 (C)(6)	$9,000	EDUCATIONAL FUND-NEW LEGISLATOR EDUCATION
VA MD & DE ASSOCIATION OF ELECTRIC COOPERATIVES
4201 DOMINION BLVD SUITE 101	GLEN ALLEN	VA	23060	540553861	501 (C)(6)	$20,400	EDUCATIONAL FUND-MEMBER COOPERATIVE DIRECTOR TRAINING
WASHINGTON RURAL ELECTRIC COOPERATIVE ASSOCIATION
PO BOX 7219	OLYMPIA	WA	985077219	911236389	501 (C)(6)	$13,000	EDUCATIONAL FUND-WRECA ANNUAL MEMBERSHIP MEETING EDUC. MATERIAL
WISCONSIN - COOPERATIVE NETWORK ELECTRIC DIVISION
1 SOUTH PINCKNEY STREET	MADISON	WI	537032869	391128018	501 (C)(6)	$20,800	EDUCATIONAL FUND-WECA YOUTH LEADERSHIP CONGRESS/YOUTH TOUR
WYOMING RURAL ELECTRIC ASSOCIATION
2312 CAREY AVENUE	CHEYENNE	WY	820013627	830207211	501 (C)(12)	$10,200	EDUCATIONAL FUND-SPONSOR YOUTH TOUR & AG IN THE CLASSROOM
NRECA
4301 WILSON BLVD FIN8-110	ARLINGTON	VA	22203	530116145	501(C)(6)	$180,564	EDUCATIONAL FUND-COOPERATIVE.COM

Field	Value	IRS element (for citing)
Total501c3 Org	0	Total501c3OrgCnt
Total Other Org	51	TotalOtherOrgCnt

Supplemental Information Detail SupplementalInformationDetail

Field	Value	IRS element (for citing)
Form And Line Reference	PART I, LINE 2:	FormAndLineReferenceDesc
Explanation	INTEGRITY FUND IN ORDER TO BE CONSIDERED FOR A GRANT FROM THE INTEGRITY FUND, A RURAL ELECTRIC SYSTEM MUST ESTABLISH THAT THERE IS AT LEAST ONE OF THE FOLLOWING THREE THREATS TO THE INTEGRITY OF ITS SYSTEM: (I) ALL, OR A SIGNIFICANT PORTION, OF ITS GEOGRAPHICALLY DEFINED TERRITORY OR SPECIFICALLY IDENTIFIED PRESENT OR ANTICIPATED CONSUMERS AND/OR ELECTRIC FACILITIES FACE A THREAT OF ACQUISITION BY A COMPETING ENTITY, (II) THE COOPERATIVE FACES A THREAT OF ITS RIGHT TO OFFER NON-ELECTRIC ENERGY SERVICES TO CONSUMERS, OR (III) THE COOPERATIVE IS FACING REGULATORY, JUDICIAL OR LEGISLATIVE CHALLENGES THAT THREATEN ITS EXISTENCE UNDER THE COOPERATIVE BUSINESS MODEL. EDUCATION FUND -- EACH STATEWIDE ASSOCIATION AND ELIGIBLE REGIONAL ASSOCIATION WILL SUBMIT AN APPLICATION FORM DESCRIBING THE PROGRAM FOR WHICH THE GRANT WILL BE USED. CFC CALCULATES THE AMOUNT ALLOTTED TO EACH APPLICANT DURING THE FISCAL YEAR BASED UPON THE TOTAL NUMBER OF CO-OPS WHICH ARE MEMBERS OF CFC AND OF THE ASSOCIATION, WITH RESPECT TO STATEWIDE ASSOCIATIONS, THE NUMBER OF STATES EACH APPLICANT REPRESENTS, AND THE NUMBER OF CO-OPS THAT ARE 100% CFC BORROWERS. THE SENIOR VICE PRESIDENT OF CFC'S CORPORATE COMMUNICATIONS GROUP APPROVES THE APPLICATIONS MADE BY THE ASSOCIATIONS.	ExplanationTxt

Schedule J IRS990ScheduleJ

Field	Value	IRS element (for citing)
First Class Or Charter Travel	Yes (X)	FirstClassOrCharterTravelInd
Travel For Companions	Yes (X)	TravelForCompanionsInd
Idemnification Gross Up Pmts	Yes (X)	IdemnificationGrossUpPmtsInd
Housing Allowance Or Residence	Yes (X)	HousingAllowanceOrResidenceInd
Written Policy Ref T And E Expnss	0	WrittenPolicyRefTAndEExpnssInd
Substantiation Required	0	SubstantiationRequiredInd
Compensation Committee	Yes (X)	CompensationCommitteeInd
Independent Consultant	Yes (X)	IndependentConsultantInd
Form990 Of Other Organizations	Yes (X)	Form990OfOtherOrganizationsInd
Compensation Survey	Yes (X)	CompensationSurveyInd
Board Or Committee Approval	Yes (X)	BoardOrCommitteeApprovalInd
Severance Payment	0	SeverancePaymentInd
Supplemental Nonqual Rtr Plan	Yes (1)	SupplementalNonqualRtrPlanInd
Equity Based Comp Arrngm	0	EquityBasedCompArrngmInd
Comp Based On Revenue Of Flng Org	0	CompBasedOnRevenueOfFlngOrgInd
Comp Bsd On Rev Related Orgs	0	CompBsdOnRevRelatedOrgsInd
Comp Bsd Net Earns Flng Org	0	CompBsdNetEarnsFlngOrgInd
Comp Bsd Net Earns Rltd Orgs	0	CompBsdNetEarnsRltdOrgsInd
Any Non Fixed Payments	Yes (1)	AnyNonFixedPaymentsInd
Initial Contract Exception	0	InitialContractExceptionInd

Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (23 entries)

TitleTitleTxt	Base Compensation Filing OrgBaseCompensationFilingOrgAmt	Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt	Bonus Filing OrganizationBonusFilingOrganizationAmount	Bonus Related OrganizationsBonusRelatedOrganizationsAmt	Other Compensation Filing OrgOtherCompensationFilingOrgAmt	Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt	Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt	Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt	Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt	Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt	Total Compensation Filing OrgTotalCompensationFilingOrgAmt	Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt	Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt	Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt
SHELDON C PETERSEN
GOVERNOR AND CEO	$955,711	$0	$275,180	$0	$472,428	$0	$126,861	$0	$26,013	$0	$1,856,193	$0	$0	$0
JOHN T EVANS
EVP & COO	$494,449	$0	$166,303	$0	$138,067	$0	$104,285	$0	$22,474	$0	$925,578	$0	$0	$0
STEVEN L LILLY UNTIL 92016
SVP, SPECIAL ASSET MANAGEMENT	$393,060	$0	$226,622	$0	$213,754	$0	$28,404	$0	$19,032	$0	$880,872	$0	$172,765	$0
JONATHON ANDREW DON
SVP AND CFO	$384,005	$0	$125,938	$0	$43,149	$0	$207,994	$0	$31,851	$0	$792,937	$0	$0	$0
ROBERTA B ARONSON
SVP AND GENERAL COUNSEL	$320,360	$0	$105,360	$0	$45,702	$0	$164,756	$0	$7,737	$0	$643,915	$0	$0	$0
JOEL ALLEN
SVP, MEMBER SERVICES GROUP	$289,942	$0	$89,504	$0	$25,740	$0	$169,065	$0	$31,183	$0	$605,434	$0	$0	$0
JOHN M BORAK
SVP, CREDIT RISK MANAGEMENT	$217,228	$0	$74,762	$0	$48,506	$0	$95,540	$0	$12,196	$0	$448,232	$0	$0	$0
ROBIN REED
SVP, MEMBER SERVICES GROUP	$253,061	$0	$87,368	$0	$24,407	$0	$136,273	$0	$14,116	$0	$515,225	$0	$0	$0
STEVEN M KETTLER
SVP, STRATEGIC SERVICES	$228,632	$0	$76,035	$0	$44,722	$0	$124,445	$0	$29,393	$0	$503,227	$0	$0	$0
GRACEANN CLENDENEN
SVP, CORPORATE SERVICES	$230,042	$0	$80,666	$0	$44,728	$0	$202,308	$0	$26,754	$0	$584,498	$0	$0	$0
BRAD CAPTAIN
SVP, CORPORATE RELATIONS	$217,000	$0	$73,980	$0	$34,893	$0	$98,379	$0	$4,869	$0	$429,121	$0	$0	$0
GREGORY STARHEIM
SVP, BUSINESS & INDUSTRY DEVELOPMENT	$360,352	$0	$98,084	$0	$81,833	$0	$211,830	$0	$28,818	$0	$780,917	$0	$0	$0
DANIEL W CAWOOD
VP, PORTFOLIO MANAGEMENT	$188,792	$0	$38,760	$0	$8,310	$0	$39,714	$0	$31,558	$0	$307,134	$0	$0	$0
LAWRENCE SAUNDERS
VP, PORTFOLIO MANAGEMENT	$234,660	$0	$57,503	$0	$7,358	$0	$47,238	$0	$18,722	$0	$365,481	$0	$0	$0
BRUCE E MACNEIL
VP, CAPITAL MARKET FUNDING	$221,800	$0	$51,377	$0	$10,134	$0	$40,810	$0	$28,777	$0	$352,898	$0	$0	$0
AMY S LUONGO
VP, PORTFOLIO MANAGEMENT	$195,931	$0	$50,084	$0	$18,475	$0	$49,739	$0	$14,036	$0	$328,265	$0	$0	$0
ALLYN J AMATO
VP AND DEPUTY GENERAL COUNSEL	$249,542	$0	$67,691	$0	$28,194	$0	$70,947	$0	$27,763	$0	$444,137	$0	$0	$0
RICHARD PERREAULT
VP AND CIO	$246,805	$0	$57,167	$0	$25,521	$0	$38,783	$0	$30,955	$0	$399,231	$0	$0	$0
KRISHNA MURTHY
VP, ELECTRIC AND ENERGY INDUSTRY ANA	$192,450	$0	$62,821	$0	$48,599	$0	$94,351	$0	$4,987	$0	$403,208	$0	$0	$0
ROBERT E GEIER JR
VP AND CONTROLLER	$224,239	$0	$64,600	$0	$25,254	$0	$114,568	$0	$10,111	$0	$438,772	$0	$0	$0
GARY A BRADBURY
VP, INTERNAL AUDIT AND ERM	$218,859	$0	$60,337	$0	$18,861	$0	$46,848	$0	$31,119	$0	$376,024	$0	$0	$0
RAY BEAVERS
FORMER DIRECTOR	$10,167	$0	$0	$0	$0	$0	$0	$0	$0	$0	$10,167	$0	$0	$0
JOHN J LIST UNTIL 92015
FORMER SVP	$0	$0	$43,162	$0	$89,962	$0	$14,617	$0	$0	$0	$147,741	$0	$89,962	$0

Supplemental Information Detail SupplementalInformationDetail (4 entries)

Form And Line ReferenceFormAndLineReferenceDesc	ExplanationExplanationTxt
PART I, LINE 1A	THE PERQUISITES PROVIDED TO THE CEO ARE LIMITED TO AN ANNUAL AUTOMOBILE ALLOWANCE AS WELL AS AN ANNUAL SPOUSAL AIR TRAVEL ALLOWANCE. ADDITIONALLY, THE CEO MAY RECEIVE AN ANNUAL EXECUTIVE PHYSICAL PAID FOR BY CFC. BECAUSE THE CEO IS FREQUENTLY REQUIRED TO TRAVEL TO MEMBER SITES IN RURAL PARTS OF THE COUNTRY, THE BOARD OF DIRECTORS HAS AUTHORIZED HIM TO OCCASIONALLY UTILIZE A PRIVATE PLANE SERVICE TO FACILITATE HIS EXTENSIVE BUSINESS TRAVEL. THIS SERVICE HAS BEEN USED INFREQUENTLY AND IS SOLELY FOR BUSINESS PURPOSES. IN ACCCORDANCE WITH A WRITTEN RELOCATION AGREEMENT, ONE OFFICER LISTED IN PART VII, SECTION A RECEIVED A GROSS UP PAYMENT REPRESENTING A TEMPORARY HOUSING ALLOWANCE AND TAXABLE RELOCATION REIMBURSEMENT FOR PERSONAL USE DUE TO A RELOCATION TO HEADQUARTERS. THESE PAYMENTS WERE TREATED AS TAXABLE COMPENSATION.
PART I, LINE 1B	THESE PAYMENTS WERE TREATED AS TAXABLE COMPENSATION. TO PROVIDE THE ANNUAL AUTOMOBILE AND SPOUSAL AIR TRAVEL PERQUISITES IN AN EFFICIENT FASHION, THE BOARD AUTHORIZES AN ANNUAL ALLOWANCE RATHER THAN PROVIDING UNLIMITED REIMBURSEMENT OR USE OF A COMPANY-OWNED VEHICLE. THE AMOUNT OF EACH ALLOWANCE IS AUTHORIZED ANNUALLY BY THE BOARD AND IS DETERMINED BASED ON THE ESTIMATED COST FOR OPERATION AND MAINTENANCE OF AN AUTOMOBILE AND THE ANTICIPATED COST OF AIR TRAVEL BY THE CEO'S SPOUSE. THESE PAYMENTS WERE TREATED AS TAXABLE COMPENSATION. CFC DOES NOT HAVE A FORMAL POLICY REGARDING PAYMENTS OR REIMBURSEMENT OF THESE EXPENSES.
PART I, LINE 4B	CFC OFFERS A PENSION RESTORATION PLAN OR AN EXECUTIVE BENEFIT RESTORATION PLAN WHICH ARE SUPPLEMENTS TO THE RETIREMENT SECURITY PLAN TO ELIGIBLE EXECUTIVE OFFICERS OF THE COMPANY. BOTH 457(F) PLANS RESTORE THE VALUE OF THE RETIREMENT SECURITY PLAN FOR EACH OFFICER TO THE LEVEL IT WOULD BE IF THE IRS LIMITS ON ANNUAL PAY AND ANNUAL ANNUITY BENEFITS WERE NOT IN PLACE. THE BENEFIT AND PAYOUT FORMULA UNDER THESE RESTORATION COMPONENTS ARE SIMILAR TO THAT UNDER THE QUALIFIED PLAN COMPONENT. HOWEVER, FIVE OF THE EXECUTIVE OFFICERS PARTICIPATING IN THE PENSION RESTORATION PLAN HAVE SATISFIED THE PROVISIONS ESTABLISHED TO RECEIVE THE BENEFIT FROM THESE PLANS. SINCE THESE OFFICERS NO LONGER HAVE A RISK OF FORFEITURE OF THE BENEFITS UNDER THE PENSION RESTORATION PLAN, DISTRIBUTIONS ARE MADE FROM THE PLAN TO EACH EXECUTIVE OFFICER ANNUALLY SHOULD THEY HAVE AN ACCRUED BENEFIT.IN ADDITION, THE CEO IS ALSO ELIGIBLE FOR A SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN WHICH MAY BE FUNDED AT THE DISCRETION OF THE BOARD OF DIRECTORS. FOR CALENDAR YEAR 2016 THE FOLLOWING DISTRIBUTIONS WERE MADE FROM THE PLANS DISCUSSED ABOVE: JOHN EVANS $ 81,436 STEVEN LILLY $ 31,998 SHELDON PETERSEN $392,824
PART I, LINE 7	WE PROVIDED ONE-TIME CASH PAYMENTS TO EACH OF THE EXECUTIVE OFFICERS, KEY EMPLOYEES AND HIGHLY COMPENSATED EMPLOYEES AS PART OF OUR SHORT-TERM AND LONG-TERM INCENTIVE PROGRAMS. CFC'S SHORT-TERM CASH INCENTIVE PROGRAM IS A ONE-YEAR CASH INCENTIVE THAT IS TIED TO THE ANNUAL PERFORMANCE OF THE ORGANIZATION AS A WHOLE. WE BELIEVE THAT BY PAYING A SHORT-TERM INCENTIVE TIED TO THE ACHIEVEMENT OF ANNUAL OPERATING GOALS, ALL EMPLOYEES, INCLUDING EXECUTIVE OFFICERS, WILL FOCUS THEIR EFFORTS ON THE MOST IMPORTANT STRATEGIC OBJECTIVES WHICH HELP US TO FULFILL OUR MISSION TO OUR MEMBERS AND OUR OBLIGATIONS TO THE FINANCIAL MARKETS. THE SHORT-TERM INCENTIVE PROGRAM PROVIDES ANNUAL CASH INCENTIVE OPPORTUNITIES BASED UPON THE LEVEL OF THE POSITION WITHIN OUR BASE PAY STRUCTURE, RANGING FROM 15 PERCENT TO 25 PERCENT OF BASE PAY. EXECUTIVE OFFICERS ARE ELIGIBLE TO RECEIVE SHORT-TERM CASH INCENTIVE COMPENSATION UP TO 25 PERCENT OF THEIR BASE PAY. KEY EMPLOYEES AND HIGHLY COMPENSATED EMPLOYEES ARE ELIGIBLE TO RECEIVE SHORT-TERM CASH INCENTIVE COMPENSATION UP TO 20 PERCENT OF THEIR BASE PAY. THE LONG-TERM INCENTIVE PROGRAM IS A THREE-YEAR PLAN THAT IS TIED TO CFC'S LONG-TERM STRATEGIC OBJECTIVES. THE LONG-TERM INCENTIVE PROGRAM WAS IMPLEMENTED TO CREATE DYNAMIC TENSION BETWEEN SHORT-TERM OBJECTIVES AND LONG-TERM GOALS. EXECUTIVE OFFICERS, KEY EMPLOYEES AND HIGHLY COMPENSATED EMPLOYEES ARE ELIGIBLE TO PARTICIPATE IN THE PLAN AND RECEIVE PERFORMANCE UNITS THAT ARE CALCULATED AT 20% - 25% OF BASE PAY. THE VALUE OF THE PERFORMANCE UNITS WILL RANGE FROM $0 TO $150 PER PERFORMANCE UNIT ACCORDING TO THE LEVEL OF NATIONAL RURAL'S ISSUER CREDIT RATINGS BY THE RATING AGENCIES.

Schedule L IRS990ScheduleL

Bus Tr Involve Interested Prsn BusTrInvolveInterestedPrsnGrp

Name Of Interested NameOfInterested

Field	Value	IRS element (for citing)
Person	STEVEN L LILLY	PersonNm

Field	Value	IRS element (for citing)
Relationship Description	FORMER SVP & OFFICER	RelationshipDescriptionTxt
Transaction	$52,500	TransactionAmt
Transaction	CONSULTING SERVICES	TransactionDesc
Sharing Of Revenues	0	SharingOfRevenuesInd

Supplemental Information Detail SupplementalInformationDetail

Field	Value	IRS element (for citing)
Form And Line Reference	SCH L, PART IV	FormAndLineReferenceDesc
Explanation	MR LILLY RETIRED FROM NRUCFC EFFECTIVE 9/30/2016. FOLLOWING HIS RETIREMENT, HE PROVIDED CONSULTING SERVICES TO CFC THROUGH SLL CONSULTING, LLC.	ExplanationTxt

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (11 entries)

Form And Line ReferenceFormAndLineReferenceDesc	ExplanationExplanationTxt
FORM 990, PART V, QUESTIONS 6A & 6B	UTILIZING A RESTRICTED CASH ACCOUNT,CFC MANAGES A VOLUNTARY FUND ESTABLISHED FOR THE PURPOSE OF ASSISTING COOPERATIVES IN DEFENDING THEIR COOPERATIVE TERRITORIES AND PROTECTING COOPERATIVE PRINCIPLES. VOLUNTARY CONTRIBUTIONS TO THE FUND ARE ACCEPTED ONLY FROM CFC MEMBERS. IN ACCORDANCE WITH NOTICE 88-120, 1988-2 C.B. 454, WHERE ALL PARTIES BEING SOLICITED ARE TAX EXEMPT ORGANIZATIONS, A SOLICITATION NEED NOT INCLUDE THE SECTION 6113 DISCLOSURE STATEMENT. CFC MEMBERS ARE ELECTRIC COOPERATIVES AND PRIMARILY 501(C)(12) TAX-EXEMPT ORGANIZATIONS. THUS, SOLICITATIONS OF MEMBERS NEED NOT INCLUDE THE SECTION 6113 DISCLOSURE OF NONDEDUCTIBILITY OF CONTRIBUTIONS.
FORM 990, PART VI, SECTION A, LINE 6	NATIONAL RURAL UTILITIES COOPERATIVE FINANCE CORPORATION IS A NON-STOCK, MEMBERSHIP ORGANIZATION. AS OF MAY 31, 2017, THERE WERE 1,022 MEMBERS AND ASSOCIATES. MEMBERSHIP INCLUDED: CLASS A. THERE WERE 839 CLASS A MEMBERS - COOPERATIVE OR NONPROFIT CORPORATIONS, PUBLIC CORPORATIONS, UTILITY DISTRICTS, AND OTHER PUBLIC BODIES, WHICH HAVE RECEIVED OR ARE ELIGIBLE TO RECEIVE A LOAN OR COMMITMENT FOR A LOAN FROM THE RUS OR ANY SUCCESSOR AGENCY, AND WHICH ARE ENGAGED OR PLANNING TO ENGAGE IN THE FURNISHING OF UTILITY SERVICES TO THEIR MEMBERS AND PATRONS FOR THEIR USE AS ULTIMATE CONSUMERS. CLASS B. THERE WERE 70 CLASS B MEMBERS - COOPERATIVE OR NONPROFIT CORPORATIONS WHICH ARE FEDERATIONS OF CLASS A MEMBERS OR OF OTHER CLASS B MEMBERS, OR BOTH, OR WHICH ARE OWNED AND CONTROLLED BY CLASS A MEMBERS OR BY OTHER CLASS B MEMBERS, OR BOTH, AND WHICH ARE ENGAGED OR PLANNING TO ENGAGE IN THE FURNISHING OF UTILITY SERVICES PRIMARILY TO CLASS A MEMBERS OR OTHER CLASS B MEMBERS. CLASS C. THERE WERE 64 CLASS C MEMBERS - STATEWIDE AND REGIONAL ASSOCIATIONS WHICH ARE WHOLLY-OWNED OR CONTROLLED BY CLASS A MEMBERS OR CLASS B MEMBERS, OR BOTH, OR WHICH ARE WHOLLY-OWNED SUBSIDIARIES OF A CFC MEMBER, AND WHICH DO NOT FURNISH UTILITY SERVICES BUT WHICH SUPPLY OTHER FORMS OF SERVICE TO THEIR MEMBERS. CLASS D THERE WAS 1 CLASS D MEMBER. CLASS D MEMBERS ARE NATIONAL ASSOCIATIONS OF COOPERATIVES COMPRISED OF CLASS A, CLASS B AND CLASS C MEMBERS. IN ORDER TO BE ELIGIBLE FOR MEMBERSHIP TO CFC, A NATIONAL ASSOCIATION MUST HAVE, AT THE TIME OF ADMISSION TO CFC, MEMBER COOPERATIVES DOMICILED IN AT LEAST 80% OF THE STATES OF THE UNITED STATES. IN ADDITION TO MEMBERS, ASSOCIATES (NUMBERING 48) ARE NOT-FOR-PROFIT ENTITIES ORGANIZED ON A COOPERATIVE BASIS WHICH ARE OWNED, CONTROLLED OR OPERATED BY CLASS A, B OR C MEMBERS AND WHICH PROVIDE NON-ELECTRIC SERVICES PRIMARILY FOR THE BENEFIT OF CONSUMERS. ASSOCIATES ARE NOT ENTITLED TO VOTE AT ANY MEETING OF THE MEMBERS AND ARE NOT ELIGIBLE TO BE REPRESENTED ON OUR BOARD OF DIRECTORS.
FORM 990, PART VI, SECTION A, LINE 7A	CFC'S MEMBERS ARE DIVIDED INTO ELEVEN DISTRICTS. EACH DISTRICT APPOINTS TWO DIRECTORS. FOR DISTRICTS 1 THROUGH 10, THE TWO DIRECTORS MUST INCLUDE ONE DIRECTOR, WHO IS A TRUSTEE OR DIRECTOR OF A MEMBER ORGANIZED WITHIN THE DISTRICT, AND ONE, WHO IS A MANAGER OF A MEMBER ORGANIZATION WITHIN THE DISTRICT; PROVIDED THAT, EXCEPT FOR DISTRICT 11 WHICH CONTAINS OUR SOLE CLASS D MEMBER, AND IN THE CASE WHERE ONLY ONE STATE IS LOCATED IN A DISTRICT, NO TWO DIRECTORS CAN REPRESENT MEMBERS WITH THEIR HEADQUARTERS IN THE SAME STATE. EACH DIRECTOR SERVES FOR A TERM OF THREE YEARS. UPON EXPIRATION OF THE TERM OF A DIRECTOR, MEMBERS FROM THAT DISTRICT ELECT A DIRECTOR MEETING THE QUALIFICATIONS OUTLINED ABOVE TO REPRESENT THEM ON CFC'S BOARD. A DIRECTOR,OTHER THAN THE DIRECTORS FROM DISTRICT 11, MAY NOT BE ELECTED TO SERVE MORE THAN TWO CONSECUTIVE THREE YEAR TERMS ON THE CFC BOARD. IF THE BOARD OF DIRECTORS IN ITS DISCRETION SO DETERMINES, THEN THERE MAY BE ONE ADDITIONAL DIRECTOR ELECTED BY THE MEMBERS TO SERVE ON THE BOARD OF DIRECTORS FROM TIME TO TIME WHO MEETS THE QUALIFICATIONS AS MAY BE REQUIRED BY THE SECURITIES AND EXCHANGE COMMISSION, A GOVERNMENTAL AGENCY OR AUTHORITY, OR A NATIONAL STOCK EXCHANGE TO SERVE AS AN AUDIT COMMITTEE FINANCIAL EXPERT
FORM 990, PART VI, SECTION A, LINE 7B	PURSUANT TO THE BUSINESS ORGANIZATIONS CODE OF THE DISTRICT OF COLUMBIA, CFC MEMBERS MUST APPROVE THE SALE OR DISPOSITION OF MORE THAN 75% OF THE COMPANY'S ASSETS, MERGERS FOR WHICH THE COMPANY WILL NOT BE THE SURVIVING ENTITY, AND THE DISSOLUTION OF THE COMPANY.
FORM 990, PART VI, SECTION B, LINE 11B	THE BOARD OF DIRECTORS OF CFC REVIEWED THE 2016 FORM 990 FOR FISCAL YEAR ENDED MAY 31, 2017 AT A REGULARLY SCHEDULED BOARD MEETING PRIOR TO FILING THE FORM 990 WITH THE INTERNAL REVENUE SERVICE. A DRAFT OF THE FORM 990 WAS PREPARED BY CFC STAFF, REVIEWED BY INTERNAL COUNSEL AND SENIOR MANAGEMENT, REVIEWED BY EXTERNAL TAX ADVISORS, KPMG LLP, AND PRESENTED TO THE BOARD FOR REVIEW. A DETAILED PRESENTATION ABOUT THE FORM 990 WAS MADE BY CFC STAFF TO THE BOARD AT A REGULARLY SCHEDULED BOARD MEETING.
FORM 990, PART VI, SECTION B, LINE 12C	CONFLICTS OF INTERESTS ARE ADDRESSED BY CFC THROUGH ITS RELATED PERSON TRANSACTIONS AND RELATED CREDITS POLICY (THE "POLICY"). CFC ESTABLISHED THE POLICY IN MAY 2007, AS AMENDED FROM TIME TO TIME, TO FACILITATE DISCLOSURE WITH RESPECT TO TRANSACTIONS IN WHICH ITS EXECUTIVE OFFICERS, DIRECTORS AND KEY EMPLOYEES AND THEIR IMMEDIATE FAMILY MEMBERS ("RELATED PERSON") HAVE A SUBSTANTIAL INTEREST. A RELATED PERSONS TRANSACTION IS DEFINED AS ANY TRANSACTION IN WHICH (I) CFC WAS, IS, OR PROPOSES TO BE A PARTICIPANT, (II) THE AMOUNT INVOLVED EXCEEDS $120,000 AND (III) A RELATED PERSON HAD, HAS, OR WILL HAVE A DIRECT OR INDIRECT MATERIAL INTEREST IN THE TRANSACTION IN QUESTION. THE POLICY APPLIES TO ALL EXECUTIVE OFFICERS, DIRECTORS AND KEY EMPLOYEES OF CFC ("COVERED PARTIES") AND REQUIRES SIMILAR DISCLOSURE TO THAT REQUIRED BY ITEM 404 OF REGULATION S-K OF THE SECURITIES ACT OF 1933, AS AMENDED. ON A QUARTERLY BASIS, EACH COVERED PARTY IS REQUIRED TO REVIEW THE POLICY AND COMPLETE A RELATED PERSON DISCLOSURE IF HE OR SHE OR AN IMMEDIATE FAMILY MEMBER IS INVOLVED IN A TRANSACTION WITH CFC. OUTSIDE OF REGULARLY SCHEDULED BOARD MEETINGS, COVERED PARTIES ARE REQUIRED TO COMPLETE RELATED PERSON DISCLOSURE NOTICES WHENEVER THEY BECOME AWARE OF A POTENTIAL CONFLICT OF INTEREST. THE RELATED PERSON DISCLOSURE NOTICE REQUIRES A DESCRIPTION OF THE PARTIES INVOLVED IN THE TRANSACTION, THE APPROXIMATE DOLLAR AMOUNT OF THE TRANSACTION, AND ANY OTHER MATERIAL FACTS AND CIRCUMSTANCES, AS WELL AS AN UPDATE WITH RESPECT TO THE TIMING AND STATUS OF THE TRANSACTION. UPON RECEIPT OF A RELATED PERSON DISCLOSURE NOTICE, CFC'S GENERAL COUNSEL IS RESPONSIBLE FOR THE REVIEW, APPROVAL AND RATIFICATION OF ANY RELATED PERSON TRANSACTION IF IT MEETS THE CRITERIA BELOW. THOSE RELATED PERSON TRANSACTIONS INVOLVING A SUBSTANTIAL INTEREST OF CFC'S GENERAL COUNSEL ARE REQUIRED TO BE REFERRED TO THE BOARD FOR REVIEW, APPROVAL AND RATIFICATION. IN REVIEWING A RELATED PERSON TRANSACTION, THE GENERAL COUNSEL, AND WHEN APPLICABLE, THE BOARD, MUST REASONABLY DETERMINE, BASED ON A REVIEW OF THE AVAILABLE INFORMATION, THAT THE TRANSACTION IS FAIR AND REASONABLE TO CFC AND CONSISTENT WITH THE BEST INTERESTS OF CFC. IN THE EVENT THE GENERAL COUNSEL BECOMES AWARE OF A RELATED PERSON TRANSACTION THAT HAS NOT BEEN APPROVED UNDER THE POLICY PRIOR TO CONSUMMATION, THE GENERAL COUNSEL SHALL NOTIFY THE BOARD OF DIRECTORS AND TAKE SUCH OTHER ACTIONS AS MAY BE NECESSARY TO SUSPEND THE CONSUMMATION OF THE TRANSACTION PENDING BOARD OF DIRECTORS' REVIEW. RELATED PERSON TRANSACTIONS DO NOT INCLUDE COMPENSATION OR EXPENSE REIMBURSEMENT ARRANGEMENTS WITH DIRECTORS, OFFICERS OR KEY EMPLOYEES (NOTWITHSTANDING THAT OFFICER COMPENSATION MAY BE DISCLOSED IN "ITEM 13. RELATED-PERSON TRANSACTION" IN OUR ANNUAL REPORT ON FORM 10-K, ELSEWHERE IN THE CFC'S PERIODIC REPORTS FILED WITH THE SEC OR OTHERWISE DISCLOSED PUBLICLY AS A RELATED PERSON TRANSACTION); TRANSACTIONS WHERE THE RELATED PERSON'S INTEREST ARISES ONLY FROM THE PERSON'S POSITION AS A DIRECTOR OF ANOTHER ENTITY THAT IS A PARTY TO THE TRANSACTION; AND TRANSACTIONS DEEMED TO BE RELATED CREDITS. A RELATED CREDIT IS DEFINED AS THE EXTENSION OF CREDIT TO OR FOR THE BENEFIT OF COVERED EMPLOYEES OR RELATED ENTITIES THAT ARE MADE ON SUBSTANTIALLY THE SAME TERMS AND FOLLOW THE UNDERWRITING PROCEDURES THAT ARE NO LESS STRINGENT THAN THOSE PREVAILING AT THE TIME FOR COMPARABLE TRANSACTIONS GENERALLY OFFERED BY CFC. THE POLICY PROHIBITS CFC FROM EXTENDING CREDIT IN THE FORM OF A PERSONAL LOAN TO A COVERED EMPLOYEE. RELATED ENTITIES INCLUDE CFC'S MEMBER COOPERATIVES AS WELL AS ANY ENTITY FOR WHICH A RELATED PERSON (I) SERVES AS AN OFFICER, DIRECTOR, TRUSTEE, ALTERNATIVE DIRECTOR OR TRUSTEE OR EMPLOYEE (INCLUDING PART TIME EMPLOYEE), (II) CONTROLS THE ENTITY, OR (III) HAS A SUBSTANTIAL BENEFICIAL INTEREST IN THE ENTITY. THE BOARD HAS DELEGATED TO THE CEO, WITH AUTHORITY TO REDELEGATE TO SUCH OFFICER OF CFC AS THE CEO DEEMS APPROPRIATE, THE AUTHORITY TO APPROVE ALL RELATED CREDITS IN AN AMOUNT EQUAL TO OR LESS THAN $250,000 AND EMERGENCY AND CERTAIN OTHER LINES OF CREDIT. RELATED CREDITS IN EXCESS OF $250,000 MUST BE APPROVED BY THE BOARD. ALL RELATED PERSONS ARE REQUIRED TO ABSTAIN FROM PARTICIPATING, DIRECTLY OR INDIRECTLY, IN THE CREDIT APPROVAL PROCESS INVOLVING A RELATED CREDIT. ADDITIONALLY, ALL RELATED PERSONS ARE REQUIRED TO LEAVE THE BOARD MEETING OR DISCONNECT FROM THE CONFERENCE CALL WHILE THE RELATED CREDIT IS BEING CONSIDERED AND DISCUSSED AND RELATED PERSONS ARE NOT PROVIDED WITH ANY WRITTEN MATERIALS PERTAINING TO SUCH RELATED CREDIT. ADDITIONALLY, CURRENT EXECUTIVE OFFICERS AND DIRECTORS, FORMER EXECUTIVE OFFICERS AND DIRECTORS, AND KEY EMPLOYEES ARE REQUIRED TO ANSWER QUESTIONS IN AN ANNUAL DIRECTOR AND OFFICER SURVEY IN ORDER TO IDENTIFY ANY RELATIONSHIPS OR TRANSACTIONS THAT MUST BE REPORTED ON CFC'S FORM 990, INCLUDING BUSINESS TRANSACTIONS BETWEEN CFC AND AN INTERESTED PERSON INVOLVING MORE THAN $10,000.
FORM 990, PART VI, SECTION B, LINE 15A	CFC'S COMPENSATION COMMITTEE (THE "COMMITTEE"), WHICH IS COMPRISED OF CFC EXECUTIVE COMMITTEE BOARD MEMBERS, DETERMINES AND APPROVES THE COMPENSATION OF CFC'S CEO. THE COMMITTEE ANNUALLY REVIEWS AND APPROVES APPROPRIATE CORPORATE GOALS AND OBJECTIVES RELATED TO THE CEO'S COMPENSATION AND EVALUATES PERFORMANCE IN LIGHT OF THOSE GOALS AND OBJECTIVES. THE CEO'S COMPENSATION IS COMPRISED OF BASE PAY, SHORT AND LONG TERM INCENTIVE COMPENSATION AND PERQUISITES. IN FISCAL YEAR 2017, AN INDEPENDENT CONSULTANT WAS ENGAGED BY THE COMMITTEE TO CONDUCT A COMPENSATION SURVEY AND PROVIDE COMPENSATION DATA FOR THE CEO POSITION USING PEER ORGANIZATIONS IDENTIFIED BY THE INDEPENDENT CONSULTANT THROUGH DISCUSSIONS WITH THE COMMITTEE. THE INDEPENDENT CONSULTANT INCLUDED COMPANIES IN THE COMPENSATION COMPARISON GROUP THAT WERE SIMILAR TO CFC IN ASSET SIZE, INDUSTRY AND BUSINESS DESCRIPTION. THE GROUP INCLUDED FINANCIAL INSTITUTIONS THAT ARE PRIVATE MARKET, COMMERCIAL AND/OR MISSION-DRIVEN LENDERS, OFFERING FULL SERVICE FINANCING, INVESTMENT AND RELATED SERVICES. THE COMPANIES TARGETED AS PEER COMPANIES INCLUDED TWO MEMBERS OF THE FARM CREDIT SYSTEM AND 12 REGIONAL BANKS OR FINANCIAL SERVICES COMPANIES. THESE COMPANIES WERE CHOSEN BECAUSE THEIR BUSINESSES ARE SIMILAR TO CFC'S. ALTHOUGH CFC IS NOT FOCUSED ON PROFITS LIKE THE INSTITUTIONS IN THE PEER GROUP, THE COMMITTEE BELIEVES THAT THESE COMPANIES EMPLOY EXECUTIVES THAT HAVE SKILLS AND EXPERTISE CONSISTENT WITH WHAT CFC WOULD SEEK IF IT HAD TO REPLACE THE CEO. THE TARGETED COMPANIES HAD ASSETS RANGING FROM APPROXIMATELY 50 PERCENT TO 200 PERCENT OF CFC'S MAY 2016 TOTAL ASSETS OF $24.4 BILLION, AND INCLUDED SEVEN COMPANIES WITH GREATER TOTAL ASSETS THAN CFC'S. THE COMPARATOR GROUP CONSISTED OF THE FOLLOWING FINANCIAL SERVICES ORGANIZATIONS: NEW YORK COMMUNITY BANCORP, INC., SIGNATURE BANK, NELNET, INC., WEBSTER FINANCIAL CORP., FLAGSTAR BANCORP, PEOPLE'S UNITED FINANCIAL CORP., WASHINGTON FEDERAL INC., ONEMAIN HOLDINGS, INC., NATIONSTAR MORTGAGE HOLDINGS, INC., TFS FINANCIAL CORPORATION, EVERBANK FINANCIAL CORPORATION AND FEDERAL AGRICULTURAL MORTGAGE CORPORATION, AS WELL AS TWO FARM CREDIT SYSTEM PEERS. SIGNATURE BANK, ONEMAIN HOLDINGS, INC., AND NATIONSTAR MORTGAGE HOLDINGS, INC. WERE ADDED TO THE PEER GROUP AS REPLACEMENTS DUE TO MERGERS AND ACQUISITIONS OF BANKS PREVIOUSLY USED AS PEERS. THE INDEPENDENT CONSULTANT LED THE COMMITTEE THROUGH AN ASSESSMENT OF CEO COMPENSATION DATA AT THE COMPARISON GROUP COMPANIES. THE INDEPENDENT CONSULTANT'S DATA INCLUDED BOTH ACTUAL COMPENSATION AND TARGET COMPENSATION BASED ON INFORMATION OBTAINED FROM EACH COMPARATOR GROUP COMPANY'S MOST RECENT ANNUAL REPORT OR PROXY STATEMENT. THE ELEMENTS OF COMPENSATION REVIEWED INCLUDE CURRENT BASE SALARY AS WELL AS ANY ADDITIONAL BONUS, INCENTIVES OR SPECIAL AWARDS. THE COMMITTEE REVIEWED TOTAL COMPENSATION DATA FOR THE COMPARATOR GROUP FOR INFORMATIONAL PURPOSES AND USED THIS DATA SOLELY TO DETERMINE THE COMPETITIVENESS OF OUR CEO BASE PAY. CFC'S SHORT-TERM CASH INCENTIVE PROGRAM IS A ONE-YEAR CASH INCENTIVE THAT IS TIED TO THE ANNUAL PERFORMANCE OF THE ORGANIZATION AS A WHOLE. CORPORATE PERFORMANCE IS MEASURED USING A BALANCED SCORECARD APPROVED BY THE BOARD OF DIRECTORS PRIOR TO THE START OF THE FISCAL YEAR. THE BALANCED SCORECARD IS A PERFORMANCE MANAGEMENT TOOL THAT ARTICULATES THE CORPORATE STRATEGY INTO SPECIFIC, QUANTIFIABLE, MEASURABLE GOALS. THE SCORECARD IS DIVIDED INTO FOUR QUADRANTS, REFLECTING CRUCIAL AREAS OF BUSINESS PERFORMANCE. SPECIFIC GOALS ARE ESTABLISHED WITHIN THOSE QUADRANTS TO FOCUS ALL EMPLOYEES ON THE TARGET RESULTS AND MEASURES THAT MUST BE ACHIEVED IF CFC IS TO SUCCEED AT REALIZING ITS STRATEGIC PLAN. THE INTENT IS TO ALIGN ORGANIZATIONAL, DEPARTMENTAL AND INDIVIDUAL INITIATIVES TO ACHIEVE A COMMON SET OF GOALS. EVERY EMPLOYEE PARTICIPATES IN THE SHORT-TERM INCENTIVE PROGRAM, AND THE CORPORATE STRATEGIC GOALS ARE THE SAME FOR ALL EMPLOYEES,INCLUDING THE EXECUTIVE OFFICERS. THE BOARD OF DIRECTORS ESTABLISHES CORPORATE GOALS AND MEASURES THAT THEY BELIEVE ARE ACHIEVABLE ONLY IF EACH INDIVIDUAL PERFORMS WELL IN HIS OR HER ROLE AND CFC MEETS ITS INTERNAL BUSINESS PLAN GOALS. THE SHORT-TERM INCENTIVE PROGRAM PROVIDES ANNUAL CASH INCENTIVE OPPORTUNITIES BASED UPON THE LEVEL OF THE POSITION WITHIN CFC'S BASE PAY STRUCTURE, RANGING FROM 15% - 25% OF BASE PAY. THE CEO IS ELIGIBLE FOR AN ANNUAL INCENTIVE OPPORTUNITY AT 25% OF HIS BASE PAY. THE LONG-TERM INCENTIVE PROGRAM IS A THREE-YEAR PLAN THAT IS TIED TO CFC'S LONG-TERM STRATEGIC OBJECTIVES. THE MEASURE FOR ALL ACTIVE LONG-TERM INCENTIVE PLANS IS THE ACHIEVEMENT OF BOND RATING TARGETS FOR CFC'S ISSUER CREDIT RATING BY RATING AGENCIES: S & P GLOBAL, FITCH RATINGS INC., AND MOODY'S INVESTORS SERVICE. ELIGIBLE PARTICIPANTS IN THE PLAN CYCLE WILL RECEIVE PERFORMANCE UNITS THAT ARE CALCULATED AT 15% - 25% OF BASE PAY, DIVIDED BY THE TARGET OBJECTIVE,CURRENTLY $100. THE CEO'S PERFORMANCE UNITS ARE CALCULATED AT 25% OF HIS BASE PAY DIVIDED BY THE TARGET OBJECTIVE. THE COMMITTEE ALSO CONSIDERS PERQUISITES FOR THE CEO IN CONNECTION WITH ITS ANNUAL REVIEW OF THE CEO'S TOTAL COMPENSATION PACKAGE DESCRIBED ABOVE. THE PERQUISITES PROVIDED TO CFC'S CEO ARE LIMITED TO AN ANNUAL AUTOMOBILE ALLOWANCE AS WELL AS AN ANNUAL SPOUSAL AIR TRAVEL ALLOWANCE. TO PROVIDE THESE PERQUISITES IN AN EFFICIENT FASHION, THE BOARD AUTHORIZES AN ANNUAL ALLOWANCE RATHER THAN PROVIDING UNLIMITED REIMBURSEMENT OR USE OF A COMPANY-OWNED VEHICLE. THE AMOUNT OF EACH ALLOWANCE IS AUTHORIZED ANNUALLY BY THE BOARD AND IS DETERMINED BASED ON THE ESTIMATED COST FOR OPERATION AND MAINTENANCE OF AN AUTOMOBILE AND THE ANTICIPATED COST OF AIR TRAVEL BY THE CEO'S SPOUSE. ADDITIONALLY, CFC'S CEO MAY RECEIVE AN ANNUAL EXECUTIVE PHYSICAL PAID FOR BY CFC. THE COMMITTEE DELEGATES THE POWER TO REVIEW AND APPROVE ALL EMPLOYEE COMPENSATION TO THE CEO, WHO EXERCISES HIS JUDGMENT TO SET THE ANNUAL BASE PAY FOR THE OTHER EXECUTIVE OFFICERS AND KEY EMPLOYEES, AS WELL AS EACH EMPLOYEE BASED ON GENERAL MARKET DATA, OVERALL PERFORMANCE AND LEADERSHIP ACCOMPLISHMENTS. IN DETERMINING THE BASE COMPENSATION PAID TO CFC'S EXECUTIVE OFFICERS AND KEY EMPLOYEES, THE CEO REVIEWED NATIONAL, CREDIBLE COMPENSATION SURVEYS FOR FINANCIAL SERVICES ORGANIZATIONS OF SIMILAR ASSET SIZE TO OBTAIN A GENERAL UNDERSTANDING OF CURRENT COMPENSATION PRACTICES AND TO ENSURE THAT THE BASE PAY COMPONENT IS COMPETITIVE, MEANING GENERALLY WITHIN THE 50TH PERCENTILE OF COMPARATIVE PAY FOR SIMILAR POSITIONS. THE CEO DID NOT REVIEW OR CONSIDER THE UNDERLYING ORGANIZATIONS COMPRISING THE SURVEY INFORMATION, BUT INSTEAD CONSIDERED ONLY THE AGGREGATE COMPENSATION DATA.EACH EXECUTIVE OFFICER AND KEY EMPLOYEE IS ELIGIBLE TO PARTICIPATE IN CFC'S SHORT TERM AND LONG TERM INCENTIVE PLANS AS DESCRIBED ABOVE WITH RESPECT TO CFC'S CEO. CFC DOES NOT PROVIDE SIGNIFICANT PERQUISITES OR PERSONAL BENEFITS TO ITS EXECUTIVE OFFICERS OR KEY EMPLOYEES.
FORM 990, PART VI, SECTION C, LINE 19	CFC'S ARTICLES OF INCORPORATION AND BYLAWS, AS AMENDED, AND ANNUAL AND PERIODIC FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC THROUGH THE SECURITIES AND EXCHANGE COMMISSION'S "SEC'S" WEBSITE. CFC'S ARTICLES OF INCORPORATION AND BYLAWS, AS AMENDED, ARE ALSO AVAILABLE ON CFC'S WEBSITE AT WWW.NRUCFC.COOP. CFC'S CONFLICT OF INTEREST POLICY, TITLED THE RELATED PERSONS TRANSACTIONS AND RELATED CREDITS POLICY, IS AVAILABLE ON CFC'S WEBSITE AT WWW.NRUCFC.COOP. CFC'S ARTICLES OF INCORPORATION ARE FILED AS EXHIBIT 3.1 TO ANNUAL REPORT ON FORM 10-K FOR THE FISCAL YEAR ENDED MAY 31, 2014 (FILED AUGUST 28, 2014). CFC'S BYLAWS ARE FILED AS EXHIBIT 3.2 TO THE FORM 10-Q FOR THE QUARTER ENDED FEBRUARY 28, 2011 (FILED ON APRIL 13, 2011). CFC'S ANNUAL AND PERIODIC FINANCIAL STATEMENTS ARE PERIODICALLY FILED WITH THE SEC ON FORM 10-K AND FORM 10-Q.
FORM 990, PART XI, LINE 9:	NET PATRONAGE CAPITAL RETIREMENT -42,489,519. DERIVATIVE FORWARD VALUE GAIN 175,379,126. NET INCREASE IN OTHER OCI COMPONENTS 7,503,135. NET REDUCTION IN MEMBERSHIP FEES -3,400. NET CHANGE IN INTEGRITY FUND -606,152.
FORM 990, PART XII, LINE 2C	WHILE THERE IS NO SEPARATE AUDIT PERFORMED OF THE CFC FINANCIAL STATEMENTS, THE CFC FINANCIAL STATEMENTS ARE CONSOLIDATED WITH THE STATEMENTS OF NATIONAL COOPERATIVE SERVICES CORPORATION AND RURAL TELEPHONE FINANCE COOPERATIVE. THE CONSOLIDATED FINANCIAL STATEMENTS ARE AUDITED. CFC'S AUDIT COMMITTEE IS SOLELY RESPONSIBLE FOR THE NOMINATION, APPROVAL, COMPENSATION, EVALUATION AND DISCHARGE OF THE INDEPENDENT REGISTERED PUBLIC ACCOUNTANTS. THE INDEPENDENT REGISTERED PUBLIC ACCOUNTANTS REPORT DIRECTLY TO THE AUDIT COMMITTEE AND THE AUDIT COMMITTEE IS RESPONSIBLE FOR THE RESOLUTION OF DISAGREEMENTS BETWEEN MANAGEMENT AND THE INDEPENDENT REGISTERED PUBLIC ACCOUNTANTS. CONSISTENT WITH SEC REQUIREMENTS, THE AUDIT COMMITTEE HAS ADOPTED A POLICY TO PRE-APPROVE ALL AUDIT AND PERMISSIBLE NON-AUDIT SERVICES PROVIDED BY THE INDEPENDENT REGISTERED PUBLIC ACCOUNTANTS. THE POLICY PROVIDES THAT PRE-APPROVAL IS NOT REQUIRED FOR TAX COMPLIANCE AND TAX PLANNING AND ADVICE ENGAGEMENTS FOR CFC AND ITS AFFILIATES PROVIDED THE FEES OF EACH SUCH ENGAGEMENT ARE NOT MORE THAN FIVE PERCENT OF TOTAL REVENUES PAID TO THE INDEPENDENT PUBLIC ACCOUNTANTS AND DO NOT IMPAIR THEIR INDEPENDENCE. THE COMMITTEE MEETS WITH OUR INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM, INTERNAL AUDITORS, CHIEF EXECUTIVE OFFICER AND FINANCIAL MANAGEMENT EXECUTIVES TO REVIEW THE SCOPE AND RESULTS OF AUDITS AND RECOMMENDATIONS MADE BY THOSE PERSONS WITH RESPECT TO INTERNAL AND EXTERNAL ACCOUNTING CONTROLS AND SPECIFIC ACCOUNTING AND FINANCIAL REPORTING ISSUES AND TO ASSESS CORPORATE RISK. THE BOARD HAS ADOPTED A WRITTEN CHARTER FOR THE AUDIT COMMITTEE WHICH MAY BE FOUND ON OUR WEBSITE, WWW.NRUCFC.COOP. THE PROCESS HAS NOT CHANGED FROM THE PRIOR PERIOD.
FORM 990, PART VI, QUESTION 16B	AS A LENDER, CFC, FROM TIME TO TIME, MAY HAVE TO FORECLOSE ON THE ASSETS OF A BORROWER. AS PART OF SUCH ACTIONS, THE COMPANY MAY RECEIVE INTERESTS IN JOINT VENTURES WITH TAXABLE ENTITIES. CFC TAKES SUCH INTERESTS ONLY IN ORDER TO MAXIMIZE ITS RECOVERY ON THE LOAN RECEIVABLE. CFC DOES NOT ENTER INTO JOINT VENTURES WITH TAXABLE ENTITIES AS PART OF ITS CORE LENDING BUSINESS. TO DATE, THE COMPANY'S INVESTMENT IN THESE JOINT VENTURES HAS BEEN NOMINAL. CFC HAS DEVELOPED A WRITTEN POLICY THAT REQUIRES THE COMPANY TO EVALUATE ITS PARTICIPATION IN JOINT VENTURE ARRANGEMENTS AND TAKE STEPS TO SAFEGUARD THE COMPANY'S 501(C)(4) TAX EXEMPT STATUS.

Schedule R IRS990ScheduleR

Id Disregarded Entities IdDisregardedEntitiesGrp

Disregarded Entity Name DisregardedEntityName

Field	Value	IRS element (for citing)
Business Name Line1	CARIBBEAN ASSET HOLDINGS LLC	BusinessNameLine1Txt

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	C/O NRUCFC 20701 COOPERATIVE WAY	AddressLine1Txt
City	DULLES	CityNm
State Abbreviation	VA	StateAbbreviationCd
ZIP	20166	ZIPCd

Field	Value	IRS element (for citing)
EIN	264752447	EIN
Primary Activities	HOLDING COMPANY	PrimaryActivitiesTxt
Legal Domicile State	DE	LegalDomicileStateCd
Total Income	$0	TotalIncomeAmt
End Of Year Assets	$0	EndOfYearAssetsAmt
Direct Controlling NA	N/A	DirectControllingNACd

Id Related Org Txbl Corp Tr IdRelatedOrgTxblCorpTrGrp (13 entries)

Address Line1USAddress/AddressLine1Txt	CityUSAddress/CityNm	State AbbreviationUSAddress/StateAbbreviationCd	ZIPUSAddress/ZIPCd	EINEIN	Primary ActivitiesPrimaryActivitiesTxt	Legal Domicile Foreign CountryLegalDomicileForeignCountryCd	Business Name Line1DirectControllingEntityName/BusinessNameLine1Txt	Entity TypeEntityTypeTxt	Share Of Total IncomeShareOfTotalIncomeAmt	Controlled OrganizationControlledOrganizationInd	Legal Domicile StateLegalDomicileStateCd
DTR HOLDINGS LLC
C/O CAH 20701 COOPERATIVE WAY	DULLES	VA	20166	660728522	HOLDING COMPANY	VQ	CARIBBEAN ASSET HOLDINGS LLC	C	-$573,308	Yes (1)
BVI ASSET HOLDINGS LLC
C/O CAH 20701 COOPERATIVE WAY	DULLES	VA	20166	264752636	HOLDING COMPANY		CARIBBEAN ASSET HOLDINGS LLC	C	-$13,402	Yes (1)	DE
STM ASSET HOLDINGS LLC
C/O CAH 20701 COOPERATIVE WAY	DULLES	VA	20166	264752724	HOLDING COMPANY		CARIBBEAN ASSET HOLDINGS LLC	C	-$96,732	Yes (1)	DE
VI POWERNET LLC
C/O DTR HOLDINGS LLC 20701 COOPERAT	DULLES	VA	20166	660728523	INTERNET SERVICE	VQ	DTR HOLDINGS LLC	C	$194,183	Yes (1)
CARIBBEAN COMMUNICATION CORP
C/O DTR HOLDINGS LLC 20701 COOPERAT	DULLES	VA	20166	670253554	CABLE NETWORKS	VQ	DTR HOLDINGS LLC	C	-$22,925	Yes (1)
ST CROIX CABLE TV INC
C/O DTR HOLDINGS LLC 20701 COOPERAT	DULLES	VA	20166	660380487	CABLE NETWORKS	VQ	DTR HOLDINGS LLC	C	-$99,049	Yes (1)
ICC TV INC
C/O DTR HOLDINGS LLC 20701 COOPERAT	DULLES	VA	20166	669572552	TELEVISION	VQ	DTR HOLDINGS LLC	C	-$104,613	Yes (1)
VITELCOM CELLULAR INC
C/O DTR HOLDINGS LLC 20701 COOPERAT	DULLES	VA	20166	660449394	WIRELESS SERVICE	VQ	DTR HOLDINGS LLC	C	-$420,730	Yes (1)
VIRGIN ISLANDS TELEPHONE CORPORATION
C/O DTR HOLDINGS LLC 20701 COOPERAT	DULLES	VA	20166	670251357	TELECOMMUNICATION	VQ	DTR HOLDINGS LLC	C	-$78,791	Yes (1)
INNOVATIVE LONG DISTANCE INC
C/O DTR HOLDINGS LLC 20701 COOPERAT	DULLES	VA	20166	660591568	TELECOMMUNICATION	VQ	DTR HOLDINGS LLC	C	-$38,645	Yes (1)
GROUP B-200 INC
C/O DTR HOLDINGS LLC 20701 COOPERAT	DULLES	VA	20166	660732664	AIRPLANE HOLDING CO.	VQ	DTR HOLDINGS LLC	C	-$2,738	Yes (1)
BVI CABLE TV LTD
C/O BVI ASSET HOLDINGS LLC 20701 CO	DULLES	VA	20166	999999999	CABLE NETWORKS	VI	BVI ASSET HOLDINGS LLC		-$13,402	Yes (1)
CARRIBEAN TELEVIEW SERVICES NV
C/O STM ASSET HOLDINGS LLC 20701 CO	DULLES	VA	20166	999999999	CABLE NETWORKS	NN	STM ASSET HOLDINGS LLC		-$96,732	Yes (1)

Field	Value	IRS element (for citing)
Receipt Of Int Annts Rnts Rylts	0	ReceiptOfIntAnntsRntsRyltsInd
Gift Grnt Or Cap Contri To Oth Org	0	GiftGrntOrCapContriToOthOrgInd
Gift Grnt Cap Contri From Oth Org	0	GiftGrntCapContriFromOthOrgInd
Loans Or Guarantees To Other Org	0	LoansOrGuaranteesToOtherOrgInd
Loans Or Guarantees From Oth Org	0	LoansOrGuaranteesFromOthOrgInd
Div Related Organization	0	DivRelatedOrganizationInd
Asset Sale To Other Org	0	AssetSaleToOtherOrgInd
Asset Purchase From Other Org	0	AssetPurchaseFromOtherOrgInd
Asset Exchange	0	AssetExchangeInd
Rental Of Facilities To Oth Org	0	RentalOfFacilitiesToOthOrgInd
Rental Of Fclts From Oth Org	0	RentalOfFcltsFromOthOrgInd
Perform Of Services For Oth Org	0	PerformOfServicesForOthOrgInd
Perform Of Services By Other Org	0	PerformOfServicesByOtherOrgInd
Sharing Of Facilities	0	SharingOfFacilitiesInd
Paid Employees Sharing	0	PaidEmployeesSharingInd
Reimbursement Paid To Other Org	0	ReimbursementPaidToOtherOrgInd
Reimbursement Paid By Other Org	0	ReimbursementPaidByOtherOrgInd
Transfer To Other Org	0	TransferToOtherOrgInd
Transfer From Other Org	0	TransferFromOtherOrgInd

Supplemental Information Detail SupplementalInformationDetail (2 entries)

Form And Line ReferenceFormAndLineReferenceDesc	ExplanationExplanationTxt
SCHEDULE R PART IV	ALL RELATED ORGANIZATIONS WERE DIVESTED ON JULY 01, 2016. AMOUNTS PRESENTED IN COLUMN (F) ARE FOR THE PERIOD JUNE 01, 2016 THROUGH JUNE 30, 2016.
SCHEDULE R PART 1	ON JULY 1, 2016, THE SALE OF CARIBBEAN ASSET HOLDINGS, LLC TO ATN VI HOLDINGS, LLC WAS COMPLETED. AS A RESULT, WE NO LONGER CARRY ANY FORECLOSED ASSETS ON OUR CONSOLIDATED BALANCE SHEET.