Attach to Form 990 or 990-EZ.| Identifier | Return Reference | Explanation |
|---|---|---|
| FORM 990, PART VI, SECTION A, LINE 6 | SOUTHWEST ELECTRIC COOPERATIVE IS OWNED BY THE CUSTOMERS OR MEMBERS TO WHICH IT PROVIDES ELECTRIC SERVICE. MEMBERS ARE REQUIRED TO VOTE ON SIGNIFICANT DECISIONS INCLUDING THE SELECTION OF THE BOARD OF DIRECTORS, SALE OF THE COOPERATIVES ASSISTS AS WELL AS CHANGES TO COOPERATIVES BYLAWS. ADDITIONALLY, MEMBERS ARE ALLOCATED ON A YEARLY BASIS AN EQUITABLE PORTION OF ANY AMOUNT IN EXCESS OF OPERATING COSTS AND EXPENSES. SUCH DISTRIBUTIONS ARE RETIRED IN CASH TO MEMBERS UPON THE DISCRETION OF THE BOARD OF DIRECTORS. SUCH A DECISION IS MADE ON A YEARLY BASIS AND IS DEPENDENT UPON THE FINANCIAL CONDITION OF THE COOPERATIVE. LIKEWISE, IN THE EVENT OF DISSOLUTION OR LIQUIDATION OF THE COOPERATIVE, AFTER ALL INDEBTEDNESS OF THE COOPERATIVE HAS BEEN PAID, MEMBERS SHALL RECEIVE PAYMENT FOR OUTSTANDING CAPITAL CONTRIBUTIONS. MEMBERS ARE ALSO ENTITLED TO AN EQUITABLE PORTION OF ANY SURPLUS ASSETS FOLLOWING DISSOLUTION OR LIQUIDATION. THE MEMBERS THAT THE AFOREMENTIONED PERTAINS TO INCLUDES: CLASS I MEMBERS INCLUDE ANY PERSON, FIRM, CORPORATION, OR BODY-POLITICAL THAT (A) SIGNS MEMBERSHIP APPLICATION PAPERS AND PAYS ANY APPLICABLE MEMBERSHIP FEE, (B) AGREES TO PURCHASE ELECTRICITY FROM SWEC, (C) SIGNS ALL APPROPRIATE EASEMENTS, AND (D) AGREES TO BE BOUND BY SWECS ARTICLES OF INCORPORATION AND BYLAWS. CLASS II MEMBERS INCLUDE ANY PERSON, FIRM, CORPORATION, OR BODY-POLITICAL THAT BECOMES A CUSTOMER OF A WHOLLY-OWNED CORPORATE SUBSIDIARY OF SWEC AND (A) SIGNS MEMBERSHIP APPLICATION PAPERS AND PAYS ANY APPLICABLE MEMBERSHIP FEE, (B) AGREES TO PURCHASE ELECTRICITY FROM SWEC, (C) SIGNS ALL APPROPRIATE EASEMENTS, AND (D) AGREES TO BE BOUND BY THE ARTICLES OF INCORPORATION AND BYLAWS OF SWECS WHOLLY-OWNED CORPORATE SUBSIDIARY | |
| FORM 990, PART VI, SECTION A, LINE 7A | SOUTHWEST ELECTRIC HAS TWO CLASSES OF MEMBERS. CLASS I MEMBERS INCLUDE ANY PERSON, FIRM, CORPORATION, OR BODY-POLITICAL THAT (A) SIGNS MEMBERSHIP APPLICATION PAPERS AND PAYS ANY APPLICABLE MEMBERSHIP FEE, (B) AGREES TO PURCHASE ELECTRICITY FROM SWEC, (C) SIGNS ALL APPROPRIATE EASEMENTS, AND (D) AGREES TO BE BOUND BY SWECS ARTICLES OF INCORPORATION AND BYLAWS. CLASS II MEMBERS INCLUDE ANY PERSON, FIRM, CORPORATION, OR BODY-POLITICAL THAT BECOMES A CUSTOMER OF A WHOLLY-OWNED CORPORATE SUBSIDIARY OF SWEC AND (A) SIGNS MEMBERSHIP APPLICATION PAPERS AND PAYS ANY APPLICABLE MEMBERSHIP FEE, (B) AGREES TO PURCHASE ELECTRICITY FROM SWEC, (C) SIGNS ALL APPROPRIATE EASEMENTS, AND (D) AGREES TO BE BOUND BY THE ARTICLES OF INCORPORATION AND BYLAWS OF SWECS WHOLLY-OWNED CORPORATE SUBSIDIARY. NO PERSON, FIRM, CORPORATION, OR BODY-POLITICAL MAY BECOME A MEMBER UNTIL HIS OR ITS APPLICATION OF MEMBERSHIP IS ACCEPTED BY THE BOARD OF DIRECTORS. AN ANNUAL MEETING OF SWEC MEMBERS MUST BE HELD ON DAY BETWEEN SEPTEMBER 1 AND OCTOBER 31 OF EACH YEAR. THE PURPOSE OF THE MEETING BEING THE SELECTION OF THE BOARD OF DIRECTORS, PASSING UPON REPORTS COVERING THE PREVIOUS FISCAL YEAR, AND TRANSACTING SUCH OTHER BUSINESS THAT MAY COME BEFORE THE MEETING. EACH MEMBER THAT IS NOT SUSPENDED OR TERMINATED SHALL BE ENTITLED TO ONLY ONE VOTE. ALL QUESTIONS SHALL BE DECIDED BY VOTE OF A MAJORITY OF THE MEMBERS VOTING THEREON IN PERSON EXCEPT AS OTHERWISE PROVIDED BY LAW, THE ARTICLES OF INCORPORATION, OR SWECS BYLAWS AND NO MEMBERS SHALL VOTE BY PROXY. | |
| FORM 990, PART VI, SECTION A, LINE 7B | MEMBERS ARE REQUIRED TO APPROVE BY VOTING CERTAIN ISSUES ARISING IN THE COURSE OF THE COOPERATIVES BUSINESS. SUCH DECISIONS INCLUDE THE SELECTION OF THE BOARD OF DIRECTORS, SALE OF ALL OR A SIGNIFICANT PORTION OF THE COOPERATIVES ASSETS AND PROPOSED CHANGES TO THE COOPERATIVES BYLAWS. FOR VOTING PURPOSES SOUTHWEST ELECTRIC HAS TWO CLASSES OF MEMBERS. CLASS I MEMBERS INCLUDE ANY PERSON, FIRM, CORPORATION, OR BODY-POLITICAL THAT (A) SIGNS MEMBERSHIP APPLICATION PAPERS AND PAYS ANY APPLICABLE MEMBERSHIP FEE, (B) AGREES TO PURCHASE ELECTRICITY FROM SWEC, (C) SIGNS ALL APPROPRIATE EASEMENTS, AND (D) AGREES TO BE BOUND BY SWECS ARTICLES OF INCORPORATION AND BYLAWS. CLASS II MEMBERS INCLUDE ANY PERSON, FIRM, CORPORATION, OR BODY-POLITICAL THAT BECOMES A CUSTOMER OF A WHOLLY-OWNED CORPORATE SUBSIDIARY OF SWEC AND (A) SIGNS MEMBERSHIP APPLICATION PAPERS AND PAYS ANY APPLICABLE MEMBERSHIP FEE, (B) AGREES TO PURCHASE ELECTRICITY FROM SWEC, (C) SIGNS ALL APPROPRIATE EASEMENTS, AND (D) AGREES TO BE BOUND BY THE ARTICLES OF INCORPORATION AND BYLAWS OF SWECS WHOLLY-OWNED CORPORATE SUBSIDIARY. NO PERSON, FIRM, CORPORATION, OR BODY-POLITICAL MAY BECOME A MEMBER UNTIL HIS OR ITS APPLICATION OF MEMBERSHIP IS ACCEPTED BY THE BOARD OF DIRECTORS. ANY MEMBER NOT SUSPENDED OR TERMINATED IS ENTITLED TO ONE VOTE PER DECISION AND NO MEMBER MAY VOTE BY PROXY. | |
| FORM 990, PART VI, SECTION B, LINE 11 | THE RETURN IS REVIEWED BY THE CONTROLLER. | |
| FORM 990, PART VI, SECTION B, LINE 12C | BOARD MEMBERS AND EMPLOYEES ALIKE ARE REQUIRED TO COMPLETE A YEARLY DISCLOSURE FORM INDICATING ANY KNOWN CONFLICTS OF INTEREST. THE CONFLICT OF INTEREST FORMMS ARE HELD AS A PERMANENT RECORD BY ADMINISTRATION. | |
| FORM 990, PART VI, SECTION B, LINE 15 | THE BOARD OF DIRECTORS DETERMINES SALARY LEVELS BASED OFF OF LABOR MARKET SURVEYS, ECONOMIC CONDITIONS, CHANGES IN COST-OF-LIVING, AND THE FINANCIAL CONDITION OF THE COMPANY. CEO AND GENERAL MANAGER PROVIDES AN ANNUAL MERIT BUDGET FOR THEIR CONSIDERATION AND ACTION. | |
| FORM 990, PART VI, SECTION C, LINE 19 | GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST | |
| CHANGES IN NET ASSETS OR FUND BALANCES: | FORM 990, PART XI, LINE 5: | CHANGE IN OTHER EQUITIES 91,095. NET PAYMENTS OF CAPITAL CREDITS TO MEMBERS -8,203. RETIRED CAPITAL CREDITS GAIN 693,650. RETIRED PATRONAGE -2,607,491. TOTAL TO FORM 990, PART XI, LINE 5: -1,830,949. |
| Software ID: | |
| Software Version: |