Attach to Form 990 or 990-EZ.
Go to www.irs.gov/Form990 for the latest information.
| Return Reference | Explanation |
|---|---|
| FORM 990, PART III, LINE 2 | IN AUGUST 2021, THE ASSOCIATION ENTERED INTO DEVELOPMENT AND SERVICE AGREEMENTS WITH ELECTRIC CODE, LLC TO DEVELOP AN EVENT MANAGEMENT PLATFORM (MARC SYSTEM) AND THE RELATED HOSTING SERVICES. THE COST OF DEVELOPING THIS PLATFORM WAS $250,000 AND THE HOSTING SERVICES WILL BE $50,000 PER YEAR. THE TERM OF THE HOSTING SERVICE AGREEMENT IS THREE YEARS WITH AUTOMATIC SUCCESSIVE ONE YEAR RENEWAL TERMS UNTIL TERMINATION BY EITHER PARTY. THE LICENSING FEE FOR THIS PLATFONN WAS INCLUDED AS A FIXED ASSET FOR THE YEAR ENDED DECEMBER 31, 2021. HOWEVER, THE PLATFORM WAS NOT PLACED INTO SERVICE AS OF DECEMBER 31, 2021, THUS NO DEPRECIATION OR REVENUE WAS RECOGNIZED DURING THE YEAR ENDED 2021. CERTAIN MEMBER COMPANIES WILL BE UTILIZING THIS PLATFORM. DEFERRED INCOME OF $200,000 RELATED TO THE LICENSING FEE WAS INCLUDED IN LIABILITIES RELATED TO THE INVOICED AMOUNTS TO THESE MEMBERS AS OF DECEMBER 31, 2021. THIS DEFERRED INCOME WILL BE RECOGNIZED AT THE POINT IN TIME THAT THE PLATFORM IS PLACED INTO SERVICE. NET ACCOUNTS RECEIVABLE OF $25,000 RELATED TO THE LICENSING FEE WAS ALSO INCLUDED. THERE WILL ALSO BE INCOME FROM THESE MEMBERS IN THE FUTURE FROM MAINTENANCE FEES RELATED TO THE HOSTING SERVICES. |
| FORM 990, PART VI, SECTION A, LINE 6 | THE ORGANIZATION HAS ACTIVE MEMBERS THAT CONSIST OF U.S. BASED AND INTERNATIONAL ELECTRIC UTILITIES, GENERATING COMPANIES, TRANSMITTING COMPANIES, DISTRIBUTING COMPANIES, AND NON-OPERATING HOLDING COMPANIES OWNING 90% OR MORE OF THE VOTING STOCK OF ANY OF THE PRECEDING TYPES OF COMPANY. ASSOCIATE MEMBERSHIP IS ALSO OPEN TO ENTITIES RESPONSIBLE FOR PROVIDING TECHNICAL RESEARCH RELATED TO THE GENERATION AND DELIVERY OF ELECTRICITY AND/OR FOR PROMOTING, COORDINATING AND ENSURING THE RELIABILITY, INTEGRITY AND EFFICIENT USE AND OPERATION OF THE BULK POWER SUPPLY SYSTEMS, BUT WHO DO NOT MEET THE REQUIREMENTS OF REGULAR MEMBERSHIP. |
| FORM 990, PART VI, SECTION A, LINE 7A | THE ASSOCIATION'S OFFICERS AND BOARD OF DIRECTORS ARE ELECTED AT THE ASSOCIATION'S ANNUAL MEETING. EACH ACTIVE MEMBER OF THE ASSOCIATION SHALL BE ENTITLED TO ONE VOTE AND MAY BE REPRESENTED AT ANY MEETING BY ONE OF ITS OFFICERS OR DIRECTORS DULY AUTHORIZED THERETO, IN PERSON OR BY PROXY. |
| FORM 990, PART VI, SECTION B, LINE 11B | THE FORM 990 IS REVIEWED BY THE ASSOCIATION'S CEO PRIOR TO FILING AND MADE AVAILABLE TO THE GOVERNING BODY UPON REQUEST. |
| FORM 990, PART VI, SECTION B, LINE 15A | THE BOARD OF DIRECTORS DETERMINES AND APPROVES THE CEO'S SALARY AT EACH ANNUAL MEETING. |
| FORM 990, PART VI, SECTION C, LINE 19 | ALL INFORMATION/DOCUMENTS OF THE ASSOCIATION OF EDISON ILLUMINATING COMPANY ARE AVAILABLE TO THE PUBLIC UPON REQUEST. |
| PART XII, LINE 2 EXPLANATION | THE ASSOCIATION'S EXECUTIVE COMMITTEE OVERSEES THE AUDIT PROCESS. |
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