Attach to Form 990 or 990-EZ.
Go to www.irs.gov/Form990 for the latest information.
| Return Reference | Explanation |
|---|---|
| Form 990, Part I, Line 14 | The IRS instructions for section 501(c)12 organizations direct them to report patronage dividends on these lines. The Cooperative allocates 100% of net margins, as patronage dividends/capital to its members. The Cooperative's accounting system follows generally accepted accounting principles (GAAP) which do not report patronage as an expense. As such, the margins are also recorded as a reconciling item on Schedule D Part XIII of form 990. |
| Form 990, Part VI, Section A, Line 6 | Blachly-Lane Electric Cooperative is owned by its approximately 2861 members who are in the following classes of customers: Residential, Commercial, or Industrial. Each member shall be entitled to one vote upon each matter being voted upon. |
| Form 990, Part VI, Section A, Line 7a | All members of the governing body (Board of Directors) are elected by vote of the members only. Directors serve a 3-year term and then must run for re-election. The by-laws give very specific direction for election of the Board Members. Candidates from each district receiving the highest number of votes shall be elected. The by-laws are readily available at the office, online, or at Board and Member meetings. |
| Form 990, Part VI, Section A, Line 7b | Members have the exclusive right to elect members of the Board of Directors. Members also have the right to remove a Director. Members may approve a voluntary dissolution, sale or merger of the Cooperative. By-law changes must be voted on by membership. These rights of the membership are outlined, in detail, in the by-laws which are available at the office, online or at Board or Member meetings. |
| Form 990, Part VI, Section B, Line 11b | All members of the Board of Directors are provided a draft copy of the Form 990, including all schedules, prior to the return being filed. They then have the opportunity to ask questions or suggest changes before it is filed. |
| Form 990, Part VI, Section B, Line 12c | Legal Council, Management, and the Board of Directors review any potential conflicts of interest at least annually. Additionally, Board Members complete and sign a questionnaire each year for completion of the Form 990. If any potential conflicts are identified, it is discussed with legal council to determine further action. |
| Form 990, Part VI, Section B, Line 15 | The Board obtains salary information from various sources, including the Oregon Rural Electric Cooperative Association's and the National Rural Electric Cooperative Association's surveys, in determining the appropriate level of compensation for the General Manager position. On an annual basis, Human Resources prepares an analysis of management, professional, and trade positions that include a comparison of wages and benefits for similar positions at other entities. This analysis gathers data from the local area utility market and the National Rural Electric Cooperative's wage survey which covers comparable positions nationally, regionally and by state. The Board sets the General Manager's salary and approves the salary budget for other positions. The wages of each individual employee is ultimately determined by the General Manager within this salary budget and based on individual performance. |
| Form 990, Part VI, Section C, Line 19 | The annual report is mailed to all members unless they have proactively elected to opt-out of our publication mailing. They may then pick up the report at the annual meeting or the office. The Form 990, the annual financial statement audit report, and the Conflict of Interest policy are available at the Cooperative's office. Other governing documents are available on the member portal of our web site or by written request. |
| Form 990, Part VII, Section A, Line 1a | The Cooperative participates in the National Rural Electric Cooperative's group defined benefit pension plan. As part of the plan, participants are required to recognize the actuarial increase in the value of their retirement plan on this form 990. The contribution rate for all participants in the plan is the same for all individuals according to which plan they are enrolled in. |
| Form 990, Part IX, Line 4 | The IRS instructions for selection 501(c)12 organizations direct them to report patronage dividends on this line. The Cooperative allocates 100% of net margins, as patronage dividends/capital to its members. The Cooperative's accounting system follows generally accepted accounting principles (GAAP) which do not report patronage dividends as an expense. As such, the benefits paid to its members are also recorded as a reconciling item on schedule D part XIII of form 990. |
| Form 990, Part IX, Line 24a - 24d | Under the Federal Energy Regulatory Commission's (FERC) system of accounting, most expenses are classified by function rather than source. |
| Form 990, Part IX, Line 24e | Taxes (other than income taxes) |
| Form 990, Part XI, Line 9 | Other changes in net assets include retirement of patronage capital, change in memberships, and change in retained capital by forfeiture or paying out previous forfeitures. |
| Software ID: | 20012124 |
| Software Version: | v1.00 |