Room /suite E Telephone number ]cange Dom business as NRECA GROUP BENEFITS TRUST Initial

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1 Return of Organization Exempt From Income Tax Form 990 Under 501(c ), 527, or 4947(1) of the Internal Revenue Code (except private foundations) Department of the Treasury Do not enter social security numbers on this form as it may be made public. Internal Revenue Service Information about Form 990 and its instructions is at www irs nnvlfnrm99o A For the 2014 calendar year, or tax year beginning and B Check if C Name of organization applicable Addres Ljch anges NRECA GROUP BENEFITS TRUST r ]cange Dom business as NRECA GROUP BENEFITS TRUST Initial return Number and street (or P.O. box if mail is not delivered to street address) return/ 4301 WILSON BOULEVARD O Final termatedin City or town, state or province, country, and ZIP or foreign postal code 1Amended return ARLINGTON, VA Lhonlica F Name and address of principal offlcer VENEICIA LOCKHART pending 4301 WILSON BOULEVARD, ARLINGTON, VA D Employer identification number OMB No Room /suite E Telephone number G Gross receipts $ 4, 8 6 3, 7 9 0, H Is this a group return for subordinates? Yes No H Are all subordinates included? Yes L] No I Tax-exem p t status 501(3) [Xi 501 ( 9 )- (insert no.) 4947(1) or E7J 527 If "No," attach a list. (see instructions) J N/A H Grou p exemption number K Form of organization: L_J Corporation LX] Trust L_J Association Other L Year of formation : M State of legal domicile: V. d 1 Briefly describe the organization's mission or most significant activities. A GROUP BENEFIT TRUST DESIGNED c TO PROVIDE HEALTH AND WELFARE BENEFITS FOR MEMBERS OF THE NATIONAL rn E 2 Check this box L_J if the organization discontinued its operations or disposed of more than 25% of its net assets. 3 Number of voting members of the governing body (Part VI, line 1a) 3 7 d 4 Number of independent voting members of the governing body (Part VI, line 1 b) 4 7 e U) 5 Total number of individuals employed in calendar year 2014 (Part V, line 2a) 5 0 Lu W 6 Total number of volunteers (estimate if necessary) a Total unrelated business revenue from Part VIII, column (C), line 12 7a 7, 666. b Net unrelated business taxable income from Form 990-T, line 34 7b <247. Prior Year Current Year 8 Contributions and grants (Part VIII, line 1 h) Program service revenue (Part VIII, line 2g) 574,594, ,904,143. a) 10 Investment Income (Part VIII, column (A), lines 3, 4, and 7d) ,443, ,883, Other revenue (Part VIII, column (A), lines 5, 6d, 8c, 9c, 10c, and 11 e) Total revenue - add lines 8 throu g h 11 (must eq ual Part Vill, 588,037, ,787, Grants and similar amounts paid (Part IX, column (A),Fllnes 1-3y1ti.UIZI v C Benefits paid to or for members (Part IX, column (A), Vne 533,369, ,790, Salaries, other compensation, employee benefits (Pa (X^ c^l &V(A)lllr^es g-1c , ,514. W C 16a Professional fundraising fees (Part IX, column (A), line ` 1e X b Total fundraising expenses (Part IX, column (D), line 2p) W 17 Other expenses (Part IX, column (A), lines 11 a-11 d,1 4f-24e et U L I q, U 44, 19 2, ,135, Total expenses Add lines (must equal Part IX, column (A), line 25) 557,817, ,060, Revenue less expenses Subtract line 18 from line 12 30,219, ,726,903. Beginning of Current Year End of Year Zn 20 Total assets (Part X, line 16) 431, 9 9 3, , 4 31, m 21 Total liabilities (Part X, line 26) 171,086,3?9. 172,375, Net assets or fund balances Subtract line 21 from line ,907, , 0 5 6, Part II I signature 1:3lOCK Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than er) is based on all information of which preparer has any knowledge. Sign S ignature o o Icer Here STEVEN G. LICHTY, VICE PRESID ype or print name and title Paid Preparer Use Only Print/Type preparer's name Firm's name Firm's address Preparer's signa n LHA For Paperwork Reduction Act Notice, see the SEE SCHEDULE 0 FOR ORGANIZATION

2 Form NRECA GROUP BENEFITS TRUST Pa e2 Part 111 Statement of Program Service Accomplishments Check If Schedule 0 contains a response or note to any line in this Part III 1 Briefly describe the organization's mission: PROVIDE HEALTH AND WELFARE BENEFITS TO MEMBERS OF ELECTRIC COOPERATIVE ASSOCIATION AND ITS MEMBERS. THE NATIONAL RURAL 2 Did the organization undertake any significant program services during the year which were not listed on the prior Form 990 or 990-EZ? El Yes 0 No If "Yes," describe these new services on Schedule 0. 3 Did the organization cease conducting, or make significant changes in how it conducts, any program services? 0 Yes No If "Yes," describe these changes on Schedule 0. 4 Describe the organization's program service accomplishments for each of its three largest program services, as measured by expenses Section 501 (3) and 501 (4) organizations are required to report the amount of grants and allocations to others, the total expenses, and revenue, if any, for each program service reported. 4a (Code ) ( Expenses $ 550,060,287. including grants of $ ) (Revenue $ TOTAL PROGRAM EXPENSES RELATED TO PROVIDING HEALTH AND WELFARE SERVICES TO MEMBERS. 4b (Code ) (Expenses $ including grants of $ ) (Revenue $ 4c (Code ) (Expenses $ including grants of $ ) (Revenue $ 4d Other program services (Describe in Schedule 0) (Expenses $ including grants of $ ) (Revenue $ 4e Total program service expenses 550,060, Form 990 (2014) GRP_ NRECA GROUP BENEFITS TRUST GRP 9901

3 Form NRECA GROUP BENEFITS TRUST Page 3 Part IV Checklist of Required Schedules 1 Is the organization described in 501 (3) or 4947(1) (other than a private foundation)? If 'Yes,' complete Schedule A 1 X 2 Is the organization required to complete Schedule B, Schedule of Contributors.? 2 X 3 Did the organization engage in direct or indirect political campaign activities on behalf of or in opposition to candidates for public office'? If "Yes,' complete Schedule C, Part l 3 X 4 Section 501 ( c)(3) organizations. Did the organization engage in lobbying activities, or have a 501(h) election in effect during the tax year? If 'Yes,' complete Schedule C, Part 1l 4 5 Is the organization a 501 (4), 501 (5), or 501 (6) organization that receives membership dues, assessments, or similar amounts as defined in Revenue Procedure 98-19? If 'Yes,' complete Schedule C, Part X 6 Did the organization maintain any donor advised funds or any similar funds or accounts for which donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts? If 'Yes,' complete Schedule D, Part l 6 X 7 Did the organization receive or hold a conservation easement, including easements to preserve open space, the environment, historic land areas, or historic structures? If 'Yes,' complete Schedule D, Part l/ 7 X 8 Did the organization maintain collections of works of art, historical treasures, or other similar assets? If 'Yes,' complete Schedule D, Part Ill - 8 X 9 Did the organization report an amount in Part X, line 21, for escrow or custodial account liability; serve as a custodian for amounts not listed in Part X; or provide credit counseling, debt management, credit repair, or debt negotiation services? If 'Yes,' complete Schedule D, Part IV - 9 X 10 Did the organization, directly or through a related organization, hold assets in temporarily restricted endowments, permanent endowments, or quasi-endowments? If "Yes,' complete Schedule D, Part V X 11 If the organization's answer to any of the following questions is "Yes," then complete Schedule D, Parts VI, VII, VIII, IX, or X as applicable a Did the organization report an amount for land, buildings, and equipment in Part X, line 10? If "Yes,' complete Schedule D, Part VI 11a X b Did the organization report an amount for investments - other securities in Part X, line 12 that is 5% or more of its total assets reported in Part X, line 16? If "Yes,' complete Schedule D, Part VII 11b X c Did the organization report an amount for investments - program related in Part X, line 13 that is 5% or more of its total assets reported in Part X, line 16' If 'Yes," complete Schedule D, Part Vlll - 11c X d Did the organization report an amount for other assets in Part X, line 15 that is 5% or more of its total assets reported in Part X, line 16? If 'Yes,' complete Schedule D, Part IX d X e Did the organization report an amount for other liabilities in Part X, line 25? If "Yes,' complete Schedule D, Part X _ 11e X f Did the organization's separate or consolidated financial statements for the tax year include a footnote that addresses the organization's liability for uncertain tax positions under FIN 48 (ASC 740)? If "Yes,' complete Schedule D, Part X l if X 12a Did the organization obtain separate, independent audited financial statements for the tax year? If 'Yes,' complete b Schedule D, Parts XI and X/I a X Was the organization included in consolidated, independent audited financial statements for the tax year? If 'Yes,' and if the organization answered 'No" to line 12a, then completing Schedule D, Parts XI and XII is optional 12b X 13 Is the organization a school described in 170(1)(A)(i)? If 'Yes," complete Schedule E 13 X 14a Did the organization maintain an office, employees, or agents outside of the United States? 14a X b Did the organization have aggregate revenues or expenses of more than $10,000 from grantmaking, fundraising, business, investment, and program service activities outside the United States, or aggregate foreign investments valued at $100,000 or more? If 'Yes, " complete Schedule F, Parts I and IV 14b X 15 Did the organization report on Part IX, column (A), line 3, more than $5,000 of grants or other assistance to or for any foreign organization? If 'Yes,' complete Schedule F, Parts li and IV 15 X 16 Did the organization report on Part IX, column (A), line 3, more than $5,000 of aggregate grants or other assistance to or for foreign individuals? If 'Yes,' complete Schedule F, Parts /// and IV 16 X 17 Did the organization report a total of more than $15,000 of expenses for professional fundraising services on Part IX, column (A), lines 6 and 11e? If 'Yes,' complete Schedule G, Part f 17 X 18 Did the organization report more than $15,000 total of fundraising event gross income and contributions on Part VIII, lines 1 c and 8a? If 'Yes,' complete Schedule G, Part X 19 Did the organization report more than $15,000 of gross income from gaming activities on Part VIII, line 9a? If 'Yes,' complete Schedule G, Part /Il 19 X 20a Did the organization operate one or more hospital facilities? If 'Yes,' complete Schedule H 20a X b If "Yes" to line 20a. did the organization attach a coov of its audited financial statements to this return? 20b Yes No Form 990 (2014) GRP_ NRECA GROUP BENEFITS TRUST GRP_9901

4 Form NRECA GROUP BENEFITS TRUST Page 4 Part IV Checklist of Required Schedules (continued) 21 Did the organization report more than $5,000 of grants or other assistance to any domestic organization or domestic government on Part IX, column (A), line 1? If "Yes,' complete Schedule I, Parts l and /1 21 X 22 Did the organization report more than $5,000 of grants or other assistance to or for domestic individuals on Part IX, column (A), line 2? If 'Yes,' complete Schedule I, Parts / and /// 22 X 23 Did the organization answer "Yes' to Part VII, Section A, line 3, 4, or 5 about compensation of the organization's current 24a and former officers, directors, trustees, key employees, and highest compensated employees? If "Yes," complete Schedule J 23 X Did the organization have a tax-exempt bond issue with an outstanding principal amount of more than $100,000 as of the last day of the year, that was issued after December 31, 2002? If *Yes," answer lines 24b through 24d and complete Schedule K If "No', go to line 25a 24a X b Did the organization invest any proceeds of tax-exempt bonds beyond a temporary period exception? 24b c Did the organization maintain an escrow account other than a refunding escrow at any time during the year to defease any tax-exempt bonds? d Did the organization act as an "on behalf of" issuer for bonds outstanding at any time during the year? - 24d 25a Section 501(3), 501 ( c)(4), and 501 ( c)(29) organizations. Did the organization engage in an excess benefit transaction with a disqualified person during the year9 If 'Yes,' complete Schedule L, Part I 25a b Is the organization aware that it engaged in an excess benefit transaction with a disqualified person in a prior year, and that the transaction has not been reported on any of the organization's prior Forms 990 or 990-EZ? If "Yes," complete Schedule L, Part I - 25b 26 Did the organization report any amount on Part X, line 5, 6, or 22 for receivables from or payables to any current or former officers, directors, trustees, key employees, highest compensated employees, or disqualified persons? If 'Yes," complete Schedule L, Part X 27 Did the organization provide a grant or other assistance to an officer, director, trustee, key employee, substantial contributor or employee thereof, a grant selection committee member, or to a 35% controlled or family member of any of these persons? If 'Yes,' complete Schedule L, Part /I/ - 27 X 28 Was the organization a party to a business transaction with one of the following parties (see Schedule L, Part IV instructions for applicable filing thresholds, conditions, and exceptions): a A current or former officer, director, trustee, or key employee? If 'Yes,' complete Schedule L, Part /V 28a X b A family member of a current or former officer, director, trustee, or key employee? If "Yes,' complete Schedule L, Part IV 28b X c An of which a current or former officer, director, trustee, or key employee (or a family member thereof) was an officer, director, trustee, or direct or indirect owner? If "Yes,' complete Schedule L, Part /V - 28c X 29 Did the organization receive more than $25,000 in non-cash contributions? If 'Yes,' complete Schedule M 29 X 30 Did the organization receive contributions of art, historical treasures, or other similar assets, or qualified conservation contributions? If 'Yes,' complete Schedule M - 30 X 31 Did the organization liquidate, terminate, or dissolve and cease operations? If 'Yes,' complete Schedule N, Part / 31 X 32 Did the organization sell, exchange, dispose of, or transfer more than 25% of its net assets?if 'Yes,' complete Schedule N, Part /l X 33 Did the organization own 100% of an disregarded as separate from the organization under Regulations s and ? If 'Yes,' complete Schedule R, Part l 33 X 34 Was the organization related to any tax-exempt or taxable? If 'Yes," complete Schedule R, Part Il, II/, or IV, and Part V, line 1 34 X 35a Did the organization have a controlled within the meaning of 512(13)9 35a X b If "Yes" to line 35a, did the organization receive any payment from or engage in any transaction with a controlled within the meaning of 512(13)? If 'Yes,' complete Schedule R, Part V, line 2 35b 36 Section 501(c )( 3) organizations. Did the organization make any transfers to an exempt non-charitable related organization? If 'Yes,' complete Schedule R, Part V, line Did the organization conduct more than 5% of its activities through an that is not a related organization and that is treated as a partnership for federal income tax purposes? If 'Yes,' complete Schedule R, Part V/ 37 X 38 Did the organization complete Schedule 0 and provide explanations in Schedule 0 for Part VI, lines 11 b and 19? Note. All Form 990 filers are required to complete Schedule 0 38 X 24c Yes No Form 990 (2014) GRP_ NRECA GROUP BENEFITS TRUST GRP_9901

5 Form NRECA GROUP BENEFITS TRUST Page 5 Part V Statements Regarding Other IRS Filings and Tax Compliance Check if Schedule 0 contains a response or note to any line in this Part V 0 is Enter the number reported in Box 3 of Form Enter -0- if not applicable 1a 0 b Enter the number of Forms W-2G included in line 1a. Enter -0- if not applicable lb 0 c 2a Did the organization comply with backup withholding rules for reportable payments to vendors and reportable gaming (gambling) winnings to prize winners? 1c X Enter the number of employees reported on Form W-3, Transmittal of Wage and Tax Statements, filed for the calendar year ending with or within the year covered by this return 2a 0 b If at least one is reported on line 2a, did the organization file all required federal employment tax returns? 2b Note. If the sum of lines 1 a and 2a is greater than 250, you may be required to e-file (see instructions) 3a Did the organization have unrelated business gross income of $1,000 or more during the year? 3a X b If "Yes," has it filed a Form 990-T for this year? If 'No,' to line 3b, provide an explanation in Schedule 0 3b X 4a At any time during the calendar year, did the organization have an interest in, or a signature or other authority over, a financial account in a foreign country (such as a bank account, securities account, or other financial account)? 4a X b If "Yes," enter the name of the foreign country: See instructions for filing requirements for FinCEN Form 114, Report of Foreign Bank and Financial Accounts (FBAR) 5a Was the organization a party to a prohibited tax shelter transaction at any time during the tax yeah 5a X b Did any taxable party notify the organization that it was or is a party to a prohibited tax shelter transaction? 5b X c If "Yes," to line 5a or 5b, did the organization file Form 8886-T? 5c 6a Does the organization have annual gross receipts that are normally greater than $100,000, and did the organization solicit any contributions that were not tax deductible as charitable contributions? - - 6a X b If "Yes," did the organization include with every solicitation an express statement that such contributions or gifts were not tax deductible? 7 Organizations that may receive deductible contributions under 170. a Did the organization receive a payment in excess of $75 made partly as a contribution and partly for goods and services provided to the payor? 7a X b If "Yes," did the organization notify the donor of the value of the goods or services provided? 7b c Did the organization sell, exchange, or otherwise dispose of tangible personal property for which it was required to file Form 8282? - 7c X d If "Yes," indicate the number of Forms 8282 filed during the year 7d e Did the organization receive any funds, directly or indirectly, to pay premiums on a personal benefit contract? 7e f Did the organization, during the year, pay premiums, directly or indirectly, on a personal benefit contract'? if g If the organization received a contribution of qualified intellectual property, did the organization file Form 8899 as required? 7 h If the organization received a contribution of cars, boats, airplanes, or other vehicles, did the organization file a Form 1098-C' 7h 8 Sponsoring organizations maintaining donor advised funds. Did a donor advised fund maintained by the sponsoring organization have excess business holdings at any time during the year? 8 9 Sponsoring organizations maintaining donor advised funds. a Did the sponsoring organization make any taxable distributions under 4966? 9a b Did the sponsoring organization make a distribution to a donor, donor advisor, or related person? 9b 10 Section 501(c )( 7) organizations. Enter: a Initiation fees and capital contributions included on Part VIII, line 12 10a b Gross receipts, included on Form 990, Part VIII, line 12, for public use of club facilities 10b 11 Section 501(c )( 12) organizations. Enter: a Gross income from members or shareholders 11a b Gross income from other sources (Do not net amounts due or paid to other sources against amounts due or received from them) 12a Section 4947 (1) non -exempt charitable trusts. Is the organization filing Form 990 in lieu of Form 1041' 12a b If "Yes," enter the amount of tax-exempt interest received or accrued during the year 12b 13 Section 501(c )(29) qualified nonprofit health insurance issuers. a Is the organization licensed to issue qualified health plans in more than one state? 13a Note. See the instructions for additional information the organization must report on Schedule O. b Enter the amount of reserves the organization is required to maintain by the states in which the organization is licensed to issue qualified health plans c Enter the amount of reserves on hand 13c 14a Did the organization receive any payments for indoor tanning services during the tax year? 14a X b If "Yes, " has it filed a Form 720 to re port these payments? If 'No,' provide an explanation in Schedule 0 14b Form 990 (2014) 11b 13b 6b Yes No GRP_ NRECA GROUP BENEFITS TRUST GRP_9901

6 Form NRECA GROUP BENEFITS TRUST Page 6 Part VI Governance, Management, and Disclosure For each 'Yes' response to lines 2 through 7b below, and for a 'No' response to line 8a, 8b, or 10b below, describe the circumstances, processes, or changes in Schedule 0 See instructions Check if Schedule 0 contains a response or note to any line in this Part VI Section A. Governing Body and Management la Enter the number of voting members of the governing body at the end of the tax year is 7 If there are material differences in voting rights among members of the governing body, or if the governing body delegated broad authority to an executive committee or similar committee, explain in Schedule 0. b Enter the number of voting members included in line 1 a, above, who are independent lb 7 2 Did any officer, director, trustee, or key employee have a family relationship or a business relationship with any other officer, director, trustee, or key employees 2 X 3 Did the organization delegate control over management duties customarily performed by or under the direct supervision of officers, directors, or trustees, or key employees to a management company or other person? 3 X 4 Did the organization make any significant changes to its governing documents since the prior Form 990 was filed? 4 X 5 Did the organization become aware during the year of a significant diversion of the organization's assets? 5 X 6 Did the organization have members or stockholders? _ 6 X 7a b Did the organization have members, stockholders, or other persons who had the power to elect or appoint one or more members of the governing body? 7a X Are any governance decisions of the organization reserved to (or subject to approval by) members, stockholders, or persons other than the governing body? 7b X 8 Did the organization contemporaneously document the meetings held or written actions undertaken during the year by the following: a The governing body?. 8a X b Each committee with authority to act on behalf of the governing body? 8b X 9 Is there any officer, director, trustee, or key employee listed in Part VII, Section A, who cannot be reached at the organization's mailin g address? If 'Yes," provide the names and addresses in Schedule 0 9 X Section B. Policies (This Section B requests information about policies not required by the Internal Revenue Code) Yes 10a Did the organization have local chapters, branches, or affiliates? - 10a X b If "Yes," did the organization have written policies and procedures governing the activities of such chapters, affiliates, and branches to ensure their operations are consistent with the organization's exempt purposes? 10b I la Has the organization provided a complete copy of this Form 990 to all members of its governing body before filing the form? I la X b Describe in Schedule 0 the process, if any, used by the organization to review this Form a Did the organization have a written conflict of interest policy? If 'No,' go to line 13 12a X b Were officers, directors, or trustees, and key employees required to disclose annually interests that could give rise to conflicts 12b X c Did the organization regularly and consistently monitor and enforce compliance with the policy? If 'Yes,' describe in Schedule 0 how this was done 12c X 13 Did the organization have a written whistleblower policy? - 13 X 14 Did the organization have a written document retention and destruction policy? 14 X 15 Did the process for determining compensation of the following persons include a review and approval by independent persons, comparability data, and contemporaneous substantiation of the deliberation and decision? a The organization's CEO, Executive Director, or top management official 15a X b Other officers or key employees of the organization 15b X If "Yes" to line 15a or 15b, describe the process in Schedule 0 (see instructions) 16a Did the organization invest in, contribute assets to, or participate in a joint venture or similar arrangement with a taxable during the year? 16a X b If "Yes," did the organization follow a written policy or procedure requiring the organization to evaluate its participation in joint venture arrangements under applicable federal tax law, and take steps to safeguard the organization's exem pt status with res pect to such arrangements? 16b Section C. Disclosure 17 List the states with which a copy of this Form 990 is required to be filed NONE 18 Section 6104 requires an organization to make its Forms 1023 (or 1024 if applicable), 990, and 990-T (Section 501 (3)s only) available for public inspection. Indicate how you made these available. Check all that apply. 0 Own website EJ Another's website Upon request EJ Other (explain in Schedule 0) 19 Describe in Schedule 0 whether (and if so, how) the organization made its governing documents, conflict of interest policy, and financial statements available to the public during the tax year. 20 State the name, address, and telephone number of the person who possesses the organization's books and records: VENEICIA LOCKHART, SVP OF FINANCE NRECA 4301 WILSON BOULEVARD, ARLINGTON, VA Form 990 (2014) GRP_ NRECA GROUP BENEFITS TRUST GRP_9901 Yes 1XI No No

7 Form NRECA GROUP BENEFITS TRUST Page 7 Part VII Compensation of Officers, Directors, Trustees, Key Employees, Highest Compensated Employees, and Independent Contractors Check if Schedule 0 contains a response or note to any line in this Part VII 0 Section A. Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees la Complete this table for all persons required to be listed. Report compensation for the calendar year ending with or within the organization's tax year. List all of the organization's current officers, directors, trustees (whether individuals or organizations), regardless of amount of compensation. Enter 0- in columns (D), (E), and (F) if no compensation was paid. List all of the organization's current key employees, if any. See instructions for definition of "key employee." List the organization's five current highest compensated employees (other than an officer, director, trustee, or key employee) who received reportable compensation (Box 5 of Form W-2 and/or Box 7 of Form 1099 MISC) of more than $100,000 from the organization and any related organizations. List all of the organization 's former officers, key employees, and highest compensated employees who received more than $100,000 of reportable compensation from the organization and any related organizations. List all of the organization's former directors or trustees that received, in the capacity as a former director or trustee of the organization, more than $10,000 of reportable compensation from the organization and any related organizations List persons in the following order individual trustees or directors; institutional trustees, officers; key employees; highest compensated employees; and former such persons. 0 Check this box if neither the organization nor any related organization compensated any current officer, director, or trustee. (A) Name and Title (B) Average hours per week (list any hours for related organizations below line) (C) Position (do not check more than one box. unless person is both an officer and a director/trustee) _ = o T E o - E E (D) Reportable compensation from the organization (W-2/1099-MISC) (E) Reportable compensation from related organizations (W-2/1099-MISC) (F) Estimated amount of other compensation from the organization and related organizations (1) BOB OCCHI 6.00 CHAIRMAN X 0. 21, (2) LANNY RODGERS 5.00 OFFICER X 0. 8, ,900. (3) BRYAN WOLFE 9.00 OFFICER X 0. 19, (4) ANTHONY ANDERSON 4.00 OFFICER X 0. 23, (5) RONALD SCHWARTAU 8.00 OFFICER X 0. 5, ,200. (6) WILLIAM HART OFFICER X 0. 23, (7) STEVEN W.WALTER 8.00 OFFICER X 0. 27, (8) CHARLES E SHORT 9.00 OFFICER X 0. 24, (9) PETER BAXTER SENIOR VICE PRESIDENT X , ,371. (10) STATE STREET CORPORATION TRUSTEE X 134, Form 990 (2014) GRP NRECA GROUP BENEFITS TRUST GRP 9901

8 Form NRECA GROUP BENEFITS TRUST Pa ge 8 Part (ll Section A. Officers- Directors. Trustees - Key Emolovees. and Hiahest Compensated Emolovees (continued) (A) Name and title (B) Average hours per week (list any hours for related organizations below line) (C) Position (do not check more than one box, unless person is both an officer and a director/trustee ) -L 2 E 'S 2 E E (D ) Reportable com pensation from the organization (W-2/1099-MISC) ( E) Reportable com p ensation from related organizations (W-2/1099-MISC) (F) Estimated amount of other compensation from the organization and related organizations 1b Sub - total 134, , ,471. c Total from continuation sheets to Part VIt, Section A d Total ( add lines lband1c 134, , , Total number of individuals (including but not limited to those listed above) who received more than $100,000 of reportable compensation from the organization 10, 0 Yes No 3 Did the organization list any former officer, director, or trustee, key employee, or highest compensated employee on line 1 a? If 'Yes,' complete Schedule J for such individual - 3 X 4 For any individual listed on line 1 a, is the sum of reportable compensation and other compensation from the organization and related organizations greater than $150,000? If 'Yes,' complete Schedule J for such individual 4 X 5 Did any person listed on line 1 a receive or accrue compensation from any unrelated organization or individual for services rendered to the organization? If 'Yes,' complete Schedule J for such person 5 X Section B. Independent Contractors 1 Complete this table for your five highest compensated independent contractors that received more than $100,000 of compensation from the nrnanvatinn_ Renort compensation for the calendar year endrnn with or within the organization's tax vear_ (A) Name and business address NONE (B) Description of services (C) Compensation 2 Total number of independent contractors (including but not limited to those listed above) who received more than $100, 000 of compensation from the organization 0 Form 990 (2014) GRP NRECA GROUP BENEFITS TRUST GRP 9901

9 Form NRECA GROUP BENEFITS TRUST Page9 Part VIII Statement of Revenue Check if Schedule 0 contains a response or note to any line in this Part VIII 0 cc 1 a Federated campaigns la o b Membership dues lb (Q c Fundraising events 1c.2 d Related organizations id y E e Government grants (contributions) le Z. f All other contributions, gifts, grants, and ME similar amounts not included above if C-0 g Noncash contributions included in fines to-1f $ U In Total. Add lines 1a-1f 4) 2 a CO C b c Total revenue Related or Unrelated Revenue excluded from tax under exempt function business s revenue revenue Business Cod INSURANC E CONTRI BUTION S , ,666. as ' a ^ d i oi e CL f All other program service revenue Total. Add lines 2a-2f 582,904, Investment income (including dividends, interest, and other similar amounts) Income from investment of tax-exempt bond proceeds 10. 8,666,504. 8, 666, Royalties ( i ) Real a Personal 6 a Gross rents b Less rental expenses c Rental income or (loss) - d Net rental income or (loss) 7 a Gross amount from sales of ( i ) Securities a Other assets other than inventory 4, ,406. b Less: cost or other basis and sales expenses 4, , 863. c Gain or (loss) 2, 216,543. d Net gain or (loss) 2, 216, , 216, a Gross income from fundraising events (not W including $ of 0) contributions reported on line 1 c). See Part IV, line 18 a b Less: direct expenses b c Net income or (loss) from fundraising events 9 a Gross income from gaming activities. See Part IV, line 19 b Less: direct expenses b c Net income or (loss) from gaming activities 10 a Gross sales of inventory, less returns 11 a and allowances b Less: cost of goods sold b c Net income or ( loss ) from sales of invento ry b c d e Miscellaneous Revenue All other revenue Total. Add lines 11 a-11 d a a Business Cod 12 Total revenue. See instructions. 593, , 779, , i4 Form 990 (2014) GRP_ NRECA GROUP BENEFITS TRUST GRP_9901

10 Form NRECA GROUP BENEFITS TRUST Pa e10 Part IX Statement of Functional Expenses Section 501(3) and 501(4) organizations must complete all columns All other organizations must complete column (A) Check If Schedule 0 contains a response or note to any fine in this Part IX Do not include amounts reported on lines 6b, 7b, 8b, 9b, and 10b of Part Vlll. I Grants and other assistance to domestic organizations and domestic governments. See Part IV, line 21 2 Grants and other assistance to domestic individuals See Part IV, line 22 3 Grants and other assistance to foreign organizations, foreign governments, and foreign Total expenses Program service expenses individuals See Part IV, lines 15 and 16 4 Benefits paid to or for members 13, 7 9 0, , 7 9 0, Compensation of current officers, directors, trustees, and key employees 134, , Compensation not included above, to disqualified persons (as defined under 4958 ( t)(1)) and persons described in 4958 (3)(B) 7 Other salaries and wages 8 Pension plan accruals and contributions ( include 401(k) and 403 employer contributions) 9 Other employee benefits 10 Payroll taxes 11 Fees for services ( non-employees): a Management b Legal - 185, ,682. c Accounting 91, ,350. d Lobbying e Professional fundraising services. See Part IV, line 17 f Investment management fees g Other. ( If line 11g amount exceeds 10% of line 25, column ( A) amount, list line 11g expenses on Sch 0.) 10,331, ,331, Advertising and promotion 13 Office expenses 29, , Information technology 509, , Royalties 16 Occupancy 17 Travel 18 Payments of travel or entertainment expenses for any federal, state, or local public officials 19 Conferences, conventions, and meetings 20 Interest 21 Payments to affiliates 22 Depreciation, depletion, and amortization 190, , Insurance 171, , Other expenses. Itemize expenses not covered above. ( List miscellaneous expenses in line 24e. If line 24e amount exceeds 10% of line 25, column (A) amount, list line 24e expenses on Schedule 0.) a MANAGED CARE SERVICES 24,624, ,624,334. b c d e All other expenses Management and g eneral expenses Fundraising expenses 25 Total functional expenses. Add lines 1 through 24e 5 5 0, 0 6 0, , 0 6 0, Joint costs. Complete this line only if the organization reported in column ( B) joint costs from a combined educational campaign and fundraising solicitation. Check here = if following SOP 98-2 (ASC ) Form 990 (2014) GRP NRECA GROUP BENEFITS TRUST GRP 9901

11 Form 990 (2014) NRECA GROUP BENEFITS TRUST Pagell Check if Schedule 0 contains a response or note to any line in this Part X U (A) Beginning of year (B) End of year 1 Cash - non-interest-bearing - 1,454, ,196, Savings and temporary cash investments 2 3 Pledges and grants receivable, net 3 4 Accounts receivable, net 5,506, ,805, Loans and other receivables from current and former officers, directors, trustees, key employees, and highest compensated employees. Complete Part If of Schedule L 5 6 Loans and other receivables from other disqualified persons (as defined under 4958(1)), persons described in 4958(3)(B), and contributing employers and sponsoring organizations of 501 (9) voluntary.y, employees' beneficiary organizations (see instr) Complete Part II of Sch L 6 7 Notes and loans receivable, net 7 8 Inventories for sale or use 8 9 Prepaid expenses and deferred charges 117, , a Land, buildings, and equipment: cost or other basis. Complete Part VI of Schedule D 10a 5,638,657. b Less: accumulated depreciation lob 2,814,284. 1,348,487. loc 2,824, Investments - publicly traded securities 421,524, ,571, Investments - other securities. See Part IV, line Investments - program-related. See Part IV, line Intangible assets Other assets. See Part IV, line 11 2,042, ,906, Total assets. Add lines 1 throu gh 15 must equal line ,993, ,431, Accounts payable and accrued expenses 10,816, ,213, Grants payable Deferred revenue Tax-exempt bond liabilities Escrow or custodial account liability. Complete Part IV of Schedule D Loans and other payables to current and former officers, directors, trustees, key employees, highest compensated employees, and disqualified persons. Complete Part II of Schedule L Secured mortgages and notes payable to unrelated third parties Unsecured notes and loans payable to unrelated third parties Other liabilities (including federal income tax, payables to related third parties, and other liabilities not included on lines 17-24). Complete Part X of ScheduleD 160,270, ,162, Total liabilities. Add lines 17 throu gh ,086, ,375,626. Organizations that follow SFAS 117 (ASC 958 ), check here and complete lines 27 through 29, and lines 33 and 34. c m 27 Unrestricted net assets 27 m 28 Temporarily restricted net assets Permanently restricted net assets 29 LL Organizations that do not follow SFAS 117 (ASC 958), check here PO.0 ò and complete lines 30 through Capital stock or trust principal, or current funds Paid-in or capital surplus, or land, building, or equipment fund Retained earnings, endowment, accumulated income, or other funds 2 60, 9 0 7, , 0 5 6, Z 33 Total net assets or fund balances 260,907, ,056, Total liabilities and net assets/fund balances 431,993, ,431,964. Form 990 (2014) GRP_ NRECA GROUP BENEFITS TRUST GRP 9901

12 Form NRECA GROUP BENEFITS TRUST Pa e12 Part XI Reconciliation of Net Assets Check if Schedule 0 contains a response or note to any line in this Part XI 0 1 Total revenue (must equal Part VIII, column (A), line 12) 2 Total expenses (must equal Part IX, column (A), line 25) 3 Revenue less expenses. Subtract line 2 from line 1 4 Net assets or fund balances at beginning of year (must equal Part X, line 33, column (A)) 5 Net unrealized gains (losses) on investments 6 Donated services and use of facilities 7 Investment expenses 8 Prior period adjustments 9 Other changes in net assets or fund balances (explain in Schedule 0) 10 Net assets or fund balances at end of year. Combine lines 3 through 9 (must equal Part X, line 33, 593,787,190. column ( 13 )) lo 309, 056, 338. Part X11 Financial Statements and Reporting Check if Schedule 0 contains a resp onse or note to any line in this Part XII Yes No 1 Accounting method used to prepare the Form 990 : LI Cash Accrual LI Other If the organization changed its method of accounting from a pnor year or checked "Other," explain in Schedule O. 2a Were the organization ' s financial statements compiled or reviewed by an independent accountant' 2a X If "Yes," check a box below to indicate whether the financial statements for the year were compiled or reviewed on a separate basis, consolidated basis, or both: 0 Separate basis 0 Consolidated basis Both consolidated and separate basis b Were the organization ' s financial statements audited by an independent accountants 2b X If "Yes," check a box below to indicate whether the financial statements for the year were audited on a separate basis, consolidated basis, or both- Separate basis 0 Consolidated basis LI Both consolidated and separate basis c If "Yes" to line 2a or 2b, does the organization have a committee that assumes responsibility for oversight of the audit, review, or compilation of its financial statements and selection of an independent accountant? 2c X If the organization changed either its oversight process or selection process dunng the tax year, explain in Schedule 0 3a As a result of a federal award, was the organization required to undergo an audit or audits as set forth in the Single Audit Act and OMB Circular A-133? 3a X b If "Yes, " did the organization undergo the required audit or audits If the organization did not undergo the required audit or audits. explain why in Schedule 0 and describe any steps taken to undergo such audits 3b Form 990 (2014) GRP NRECA GROUP BENEFITS TRUST GRP 9901

13 SCHEDULED Supplemental Financia l Statements OMB No (Form 990 ) 10- Complete if the organization answered "Yes" to Form 990, 2014 D epartme nt o f t he Treasury Internal Revenue service Name of the organization Part IV, line 6, 7, 8, 9, 10, 1la, 11b, 11c, 11d, 11e, 11f, 12a, or 12b. Attach to Form 990. Open to Public llll^ Information about Schedule D (Form 990 ) and its instructions is at In spnecti Lo on Employer identification number NRECA GROUP BENEFITS TRUST ripa -i rt 1 Organizations Maintaining Donor Advised Funds or Other Similar Funds or Accounts. Complete if the organization answered "Yes" to Form 990, Part IV, line 6 1 Total number at end of year 2 Aggregate value of contributions to (during year) Donor advised funds 3 Aggregate value of grants from (during year) 4 Aggregate value at end of year 5 Did the organization inform all donors and donor advisors in writing that the assets held in donor advised funds Funds and other accounts are the organization's property, subject to the organization's exclusive legal control? Yes 0 No 6 Did the organization inform all grantees, donors, and donor advisors in wrrting that grant funds can be used only for charitable purposes and not for the benefit of the donor or donor advisor, or for any other purpose conferring im permissible private benefits Yes 0 No Part II Conservation Easements. Com plete if the organization answered "Yes" to Form 990, Part IV, line 7. 1 Purpose(s) of conservation easements held by the organization (check all that apply). Preservation of land for public use (e g., recreation or education) Protection of natural habitat Preservation of open space Preservation of a historically important land area Preservation of a certified historic structure 2 Complete lines 2a through 2d if the organization held a qualified conservation contribution in the form of a conservation easement on the last day of the tax year. a Total number of conservation easements 2a b Total acreage restricted by conservation easements 2b c Number of conservation easements on a certified historic structure included in 2c d Number of conservation easements included in acquired after 8/17/06, and not on a historic structure Held at the End of the Tax Year listed in the National Register 2d 3 Number of conservation easements modified, transferred, released, extinguished, or terminated by the organization during the tax year 0-4 Number of states where property subject to conservation easement is located 5 Does the organization have a written policy regarding the periodic monitoring, inspection, handling of violations, and enforcement of the conservation easements it holds? Yes No 6 Staff and volunteer hours devoted to monitoring, inspecting, and enforcing conservation easements during the year 7 Amount of expenses incurred in monitoring, inspecting, and enforcing conservation easements during the year 0- $ 8 Does each conservation easement reported on line 2 above satisfy the requirements of 170(h)(4)(B)(i) and 170(h)(4)(B)(II)9 _ 0 Yes No 9 In Part XIII, describe how the organization reports conservation easements in its revenue and expense statement, and balance sheet, and include, if applicable, the text of the footnote to the organization's financial statements that describes the organization's accounting for conservation easements. Part Ill Organizations Maintaining Collections of Art, Historical Treasures, or Other Similar Assets. Complete if the organization answered "Yes" to Form 990, Part IV, line 8. Ila If the organization elected, as permitted under SFAS 116 (ASC 958), not to report in its revenue statement and balance sheet works of art, historical treasures, or other similar assets held for public exhibition, education, or research in furtherance of public service, provide, in Part XIII, the text of the footnote to its financial statements that describes these items. b If the organization elected, as permitted under SFAS 116 (ASC 958), to report in its revenue statement and balance sheet works of art, historical treasures, or other similar assets held for public exhibition, education, or research in furtherance of public service, provide the following amounts relating to these items: (i) Revenue Included in Form 990, Part VIII, line 1 $ (ii) Assets Included in Form 990, Part X $ 2 If the organization received or held works of art, historical treasures, or other similar assets for financial gain, provide the following amounts required to be reported under SFAS 116 (ASC 958) relating to these items: a Revenue included in Form 990, Part VIII, line $ b Assets included in Form 990, Part X _ $ LHA For Paperwork Reduction Act Notice, see the Instructions for Form 990. Schedule D (Form 990) GRP NRECA GROUP BENEFITS TRUST GRP 9901

14 Schedule D Form NRECA GROUP BENEFITS TRUST Pa e 2 Part III Organizations Maintaining Collections of Art, Historical Treasures, or Other Similar Assets(continued) 3 Using the organization's acquisition, accession, and other records, check any of the following that are a significant use of its collection items (check all that apply): a 0 Public exhibition d Loan or exchange programs b 0 Scholarly research e Other c 0 Preservation for future generations 4 Provide a description of the organization's collections and explain how they further the organization's exempt purpose in Part XIIi. 5 During the year, did the organization solicit or receive donations of art, historical treasures, or other similar assets to be sold to raise funds rather than to be maintained as part of the organization's collection? 0 Yes 0 No Part IV Escrow and Custodial Arrangements. Complete if the organization answered "Yes" to Form 990, Part IV, line 9, or reported an amount on Form 990, Part X, line 21 1a Is the organization an agent, trustee, custodian or other intermediary for contributions or other assets not included on Form 990, Part X? 0 Yes 0 No b If "Yes," explain the arrangement in Part XIII and complete the following table. c d e Beginning balance Additions during the year Distributions during the year f Ending balance _ Amount 2a Did the organization include an amount on Form 990, Part X, line 21 for escrow or custodial account liability? L-J Yes L-J No b If "Yes," explain the arrangement in Part XIII. Check here if the expi has been provided in Part XIII PartV I Endowment Funds. Complete if the organization answered "Yes" to Form 990, Part IV, line 10. Is Beginning of year balance b Contributions c Net investment earnings, gains, and losses d Grants or scholarships e Other expenditures for facilities and programs f Administrative expenses g End of year balance _ 2 Provide the estimated percentage of the current year end balance (line 1 g, column ) held as: a Board designated or quasi-endowment Jo- % b Permanent endowment % c Temporarily restricted endowment % 3a The percentages in lines 2a, 2b, and 2c should equal 100% (a ) Current year (b ) Prior year (c ) Two years back Three years back Four years back Are there endowment funds not in the possession of the organization that are held and administered for the organization by: Yes No (i) unrelated organizations 3a i (ii) related organizations _ 3a(ii b If "Yes" to 3a(ii), are the related organizations listed as required on Schedule R? 3b 4 Describe in Part XIII the intended uses of the oroanization's endowment funds. Part VI Land, Buildings, and Equipment. Complete if the organization answered "Yes" to Form 990, Part IV, line 11 a. See Form 990, Part X, line 10. Description of property Cost or other basis (investment) Cost or other basis (other) is 1d le if Accumulated depreciation Book value is Land b Buildings c Leasehold improvements 7,350. 4,533. 2,817. d Equipment 5,631,307. 2,809,751. 2,821,556. e Other Total. Add lines 1 a throw h 1 e (Column must equal Form 990, Part X, column (B), hne 10c 2,824,373. Schedule D (Form 990) GRP_ NRECA GROUP BENEFITS TRUST GRP_9901

15 Schedule D ( Form NRECA GROUP BENEFITS TRUST Pa e 3 Part V11 Investments - Other Securities. Complete if the organization answered "Yes" to Form 990. Part IV. line 11 b. See Form 990. Part X. line 12. Description of security or category ( including name of security) ( b) Book value Method of valuation: Cost or end - of-year market value (1) Financial derivatives (2) Closely -held equity interests (3) Other (A ) (B) (C ) ( D ) (G ) (H) Total. Col. ( b ) must equal Form 990, Part X, col. ( 13 ) line 12. ) ran viii( investments - Program Fielateci. Complete if the organization answered "Yes" to Form 990, Part IV, line 11 c. See Form 990, Part X, line 13. Description of investment Book value Method of valuation: Cost or end-of-year market value Total. (Col. ( b) must equal Form 990, Part X, col. (B) line 13.) Part IX Other Assets. if the organization answered "Yes" to Form 990, Part IV, line 11 d. See Form 990, Part X, line 15 Description I Book value Total. (Column must equal Form 990, Part X, col (B) line 15) Part X Other Liabilities. Complete if the organization answered "Yes" to Form 990, Part IV, line 11 a or 11 f. See Form 990, Part X, line 25. Description of liability ( b) Book value ( 1 ) Federal income taxes (2 ) UNREVEALED CLAIMS - MEDICAL 58,672,000. (3 ) UNREVEALED CLAIMS - LONG TERM (4) DISABILITY 90,490,000. Total. (Column must equal Form 990, Part )4 col (B) line 25 ) 149,16 2, U U U. 2. Liability for uncertain tax positions. In Part XIII, provide the text of the footnote to the organization ' s financial statements that reports the organization 's liability for uncertain tax positions under FIN 48 (ASC 740) Check here if the text of the footnote has been provided in Part XIII Schedule D (Form 990) GRP_ NRECA GROUP BENEFITS TRUST GRP 9901

16 . Schedule D (Form 990) 2014 NRECA GROUP BENEF IT S TRUST Paae4 PartXI Reconciliation of Revenue per Audited Financial Statements With Revenue per Return. Complete if the organization answered "Yes' to Form 990, Part IV, line 12a. 1 Total revenue, gains, and other support per audited financial statements , 2 0 9, Amounts included on line 1 but not on Form 990, Part VIII, line 12 a Net unrealized gains (losses) on investments 2a 4,421,854. b Donated services and use of facilities 2b c Recoveries of prior year grants 2c d Other (Describe in Part XIII.) 2d e Add lines 2a through 2d 2e 4,421, Subtract line 2e from line ,787, Amounts included on Form 990, Part VIII, line 12, but not on line 1 a Investment expenses not included on Form 990, Part VIII, line 7b 4a b Other (Describe in Part XIII) 4b c Add lines 4a and 4b 0. 5 Total revenue. Add lines 3 and 4c. (This must equal Form 990, Part line 12 ) --J-4s 93, 7 8 7,190. Part XII Reconciliation of Expenses per Audited Financial Statements With Expenses per Return. Complete if the organization answered "Yes" to Form 990, Part IV, line 12a. 1 Total expenses and losses per audited financial statements ,060, Amounts included on line 1 but not on Form 990, Part IX, line 25: a Donated services and use of facilities 2a b Prior year adjustments 2b c Other losses 2c d Other (Describe in Part XIII).. 2d e Add lines 2a through 2d 2e 0. 3 Subtract line 2e from line ,060, Amounts included on Form 990, Part IX, line 25, but not on line 1: a Investment expenses not included on Form 990, Part VIII, line 7b 4a b Other (Describe in Part XIII.) 4b c Add lines 4a and 4b 4c 0. 5 Total expenses. Add lines 3 and 4c. (This must equal Form 990, Part line 18 ) 5, 0 UT Part XIII Supplemental Information. Provide the descriptions required for Part II, lines 3, 5, and 9, Part III, lines 1 a and 4; Part IV, lines 1 b and 2b, Part V, line 4; Part X, line 2; Part XI lines 2d and 4b; and Part XII, lines 2d and 4b. Also complete this part to provide any additional information. PART X, LINE 2: EXPLANATION: THE PLAN HAS ADOPTED THE PROVISIONS OF FINANCIAL ACCOUNTING STANDARDS BOARD GUIDANCE ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES (ASC ) FOR THE YEARS ENDED DECEMBER 31, 2014 AND 2013, AS REQUIRED. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE PLAN, AND HAS CONCLUDED THAT AS OF DECEMBER 31, 2014 AND 2013, THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY (OR ASSET) OR DISCLOSURE IN THE FINANCIAL STATEMENTS. THEREFORE, NO PROVISION OR LIABILITY FOR INCOME TAXES HAS BEEN INCLUDED IN THE FINANCIAL STATEMENTS Schedule D (Form 990) GRP_ NRECA GROUP BENEFITS TRUST GRP 9901

17 ScheduleD ( Form NRECA GROUP BENEFITS TRUST Pa e5 IPart Supplemental Information (continued) Schedule D (Form 990) GRP_ NRECA GROUP BENEFITS TRUST GRP 9901

18 SCHEDULE J Compensation Information OMB No (Form 990) For certain Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees 2014 Complete if the organization answered "Yes" on Form 990, Part IV, line 23. Department of the Treasury Illo- Attach to Form 990. Open to Public Internal Revenue Service 110- Information about Schedule J ( Form 990 ) and its instructions is at Inspection Name of the organization Employer identification number NRECA GROUP BENEFITS TRUST Part I Questions Regarding Compensation la Check the appropriate box(es ) if the organization provided any of the following to or for a person listed in Form 990, Part VII, Section A, line 1 a Complete Part III to provide any relevant information regarding these items 0 First-class or charter travel 0 Housing allowance or residence for personal use 0 Travel for companions 0 Payments for business use of personal residence 0 Tax indemnification and gross -up payments LI Health or social club dues or initiation fees E:J Discretionary spending account El Personal services (e.g., maid, chauffeur, chef) Yes No b If any of the boxes on line 1 a are checked, did the organization follow a written policy regarding payment or reimbursement or provision of all of the expenses described above? If "No," complete Part III to explain 2 Did the organization require substantiation prior to reimbursing or allowing expenses incurred by all directors, trustees, and officers, including the CEO/Executive Director, regarding the items checked in line 1 a? - lb 3 Indicate which, if any, of the following the filing organization used to establish the compensation of the organization's CEO/Executive Director. Check all that apply. Do not check any boxes for methods used by a related organization to establish compensation of the CEO/Executive Director, but explain in Part III. Compensation committee 0 Written employment contract Independent compensation consultant LI Compensation survey or study 0 Form 990 of other organizations 0 Approval by the board or compensation committee 4 During the year, did any person listed in Form 990, Part VII, Section A, line 1 a, with respect to the filing organization or a related organization. a Receive a severance payment or change-of-control payment? - b Participate in, or receive payment from, a supplemental nonquallfled retirement plan? c Participate in, or receive payment from, an equity-based compensation arrangement? If "Yes' to any of lines 4a-c, list the persons and provide the applicable amounts for each item in Part III 4a X Only 501(c )( 3), 501 ( c)(4), and 501 ( c)(29) organizations must complete lines For persons listed in Form 990, Part VII, Section A, line 1 a, did the organization pay or accrue any compensation contingent on the revenues of. a The organization? b Any related organization? - - If "Yes" to line 5a or 5b, describe in Part III. 6 For persons listed in Form 990, Part VII, Section A, line 1 a, did the organization pay or accrue any compensation contingent on the net earnings of: a The organization? b Any related organization? If "Yes" to line 6a or 6b, describe in Part III 7 For persons listed in Form 990, Part VII, Section A, line 1 a, did the organization provide any non-fixed payments not described in lines 5 and 62 If "Yes," describe in Part III 8 Were any amounts reported in Form 990, Part VII, paid or accrued pursuant to a contract that was subject to the initial contract exception described in Regulations (3)? If "Yes," describe in Part III 9 If "Yes" to line 8, did the organization also follow the rebuttable presumption procedure described in 53 LHA For Paperwork Reduction Act Notice, see the Instructions for Form 990. Schedule J (Form 990) a 6a GRP_ NRECA GROUP BENEFITS TRUST GRP_9901

19 Schedule) Form NRECA GROUP BENEFITS TRUST Page 2 Part II Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees Use duplicate copies if additional space is needed For each individual whose compensation must be reported in Schedule J, report compensation from the organization on row () and from related organizations, described in the instructions, on row (ii) Do not list any individuals that are not listed on Form 990, Part VII Note. The sum of columns (B)() (n) for each listed individual must equal the total amount of Form 990, Part VII, Section A, line 1 a, applicable column (D) and (E) amounts for that individual (A) Name and Title (B) Breakdown of W 2 and/or 1099 MISC compensation ( C) Retirement and oth er d e f erre d ( 1 ) Base (ii) Bonus & compensation compensation incentive compensation (111) Other reportable compensation (D ) Nontaxable b ene f t s ( E) Total of columns ( B )@-( D) (F) Compensation in co lumn ( B ) reported as re 9 red in pnor Form 990 (1) PETER BAXTER ( 1) SENIOR VICE PRESIDENT 11-7TT- 11, , , (I) (I) (I) 11 11) 11 (1) 11 11) 11 (I) (I) (I) 11 (I) 11 11) 11 (1) (I) 11 (1) 11 (I) Schedule J (Form 990) 2014

20 ScheduleJ Form99o 2014 NRECA GROUP BENEFITS TRUST Page 3 Part III Supplemental Information Provide the information, explanation, or descriptions required for Part 1, lines 1 a, 1 b, 3, 4a, 4b, 4c, 5a, 5b. 6a, 6b, 7, and 8, and for Part It. Also complete this part for any additional information Schedule J (Form 990)

21 SCHEDULE 0 Supplemental Information to Form 990 or EZ OMB No (Form 990 or EZ) Complete to provide information for responses to specific questions on Form 990 or EZ or to provide any additional information Department of the Treasury 110- Attach to Form 990 or 990-EZ. Open to Public Internal Revenue Service 10, Information abou t Sched ule 0 (Form 990 or 990-EZ I and its instructions is a t Inspection Name of the organization Employer identification number NRECA GROUP BENEFITS TRUST FORM 990, PART I, LINE 1, DESCRIPTION OF ORGANIZATION MISSION: RURAL ELECTRIC COOPERATIVE ASSOCIATION. FORM 990, PART VI, SECTION A, LINE 2: THE INDIVIDUAL TRUSTEES AND DIRECTORS ARE ALSO DIRECTORS OR A KEY EMPLOYEE OF THE NATIONAL RURAL ELECTRIC COOPERATIVE ASSOCIATION. FOUR DIRECTORS ARE ALSO DIRECTORS OF NRECA INTERNATIONAL, LTD. THREE DIRECTORS ARE ALSO DIRECTORS OF THE CEO EVALUATION COMMITTEE. ONE DIRECTOR IS ALSO A DIRECTOR ON THE WOOD QUALITY CONTROL COMMITTEE. FORM 990, PART VI, SECTION B, LINE 11: FORM 990 IS PREPARED BY A SENIOR ACCOUNTANT AND REVIEWED BY A SENIOR MANAGER AND SENIOR VICE PRESIDENT OF FINANCE AND ACCOUNTING. THE FORM 990 IS THEN POSTED ONLINE FOR THE GOVERNING BODY TO REVIEW AND APPROVE. THIS IS PROVIDED SEVEN DAYS PRIOR TO THE RETURN BEING FILED. FORM 990, PART VI, SECTION B, LINE 12C: EACH DIRECTOR AND TRUSTEE IS REQUIRED TO COMPLETE AND SUBMIT A CONFLICT OF INTEREST QUESTIONAIRE THAT IS REVIEWED BY THE SENIOR VICE PRESIDENT OF FINANCE. THE SENIOR VICE PRESIDENT OF FINANCE REVIEWS EACH QUESTIONNAIRE AND FOLLOWS UP ON ANY CONFLICTS WITH RESPECTIVE DIRECTORS AND TRUSTEES ALONG WITH NRECA CORPORATE COUNCIL. FORM 990, PART VI, SECTION B, LINE 15: THE TRUST DOES NOT HAVE ANY EMPLOYEES NOR DOES IT PAY ITS INDIVIDUAL DIRECTORS OR TRUSTEES. LHA For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ Schedule 0 (Form 990 or 990-EZ ) (2014) GRP_ NRECA GROUP BENEFITS TRUST GRP 9901

22 Schedule 0 (Form 990 or 990 (2014 ) Page 2 Name of the organization Employer identification number NRECA GROUP BENEFITS TRUST FORM 990, PART VI, SECTION C, LINE 19: GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND AUDITED FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART XII, LINE 2C: THERE WERE NO CHANGES TO THE PLAN'S OVERSIGHT PROCESS OR SELECTION PROCESS REGARDING THE AUDITED FINANCIAL STATEMENTS DURING THE TAX YEAR Schedule 0 (Form 990 or 990-EZ ) (2014) GRP_ NRECA GROUP BENEFITS TRUST GRP 9901

23 SCHEDULER Related Organizations and Unrelated Partnerships (Form 990) Complete if the organization answered "Yes" on Form 990, Part IV, line 33.34,35b, 36, or 2014 D-IOx on. S-- Attach to Form 990. I Open to Public Information about Schedule R (Form 9901 and its instructions is at,.,w,.,!,...,,nc,,,- oon Inspection Name of the organization Employer identification number NRECA GROUP BENEFITS TRUST Part I Identification of Disregarded Entities Complete if the organization answered 'Yes' on Form 990, Part IV, line 33 (d applicable) of disregarded (d ) Total income ( e) End-of year assets Direct controlling Pat 11 Identification of Related Tax-Exempt Organizations Complete if the organization answered 'Yes' on Form 990, Part IV, line 34 because it had one or more related tax-exempt organizations during the tax year NRECA WILSON BOULEVARD sue,(s)2bt13) Public chart Direct controlling, roved status (d awry? 501 (3)) Yes No ARLINGTON, VA BADE ASSOCIATION IRGINIA 01 /A X 4-COUNTY ELEC POWER PO BOX 351 COLUMBUS, MS ELECTRIC COOPERATIVE ISSISSIPPI 01 /A X ACCESS ENERGY COOPERATIVE PO BOX 440 MT PLEASANT, IA ELECTRIC COOPERATIVE OWA 01 /A X ACDI/VOCA F STREET NW WASHINGTON, DC ELECTRIC COOPERATIVE ISTRICT OF COLUMBIA 01 /A X For Paperwork Reduction Act Notice, see the Instructions for Form o LHA 23 Schedule R (Form 990) 2014

24 Part II Pnmary actrvrty Public charity Direct controlling s^n^(3)2mki31 ^o-abd status (d or nz xont 501 (3)) Yes No ACES POWER MARKETING W 99TH ST CARREL, IN ELECTRIC COOPERATIVE INDIANA 01 /A X ADAMS COLOMBIA ELECTRIC CO PO BOX 70 FRIENDSHIP, WI ELECTRIC COOPERATIVE WISCONSIN /A X ADAMS EC INC BICLERVILLE RD GETTYSBURG, PA ELECTRIC COOPERATIVE P ENNSYLVANIA 01 /A X ADAMS ELECTRIC COOPERATIVE PO BOX 247 CAMP POINT, IL ELECTRIC COOPERATIVE LLINOIS 01 /A X ADAMS R E C INC PO BOX 247 WEST UNION, OH ELECTRIC COOPERATIVE HIO 01 /A X AGRALITE CO-OP PO BOX 228 BENSON MN ELECTRIC COOPERATIVE INNESOTA 01 /A X AIKEN ELEC CO-OP INC PO BOX 417 AIKEN, SC ELECTRIC COOPERATIVE S OUTH CAROLINA 01 /A X ALABAMA RURAL ELEC ASSN PO BOX MONTGOMERY, AL E LECTRIC COOPERATIVE klabama 01 /A X ALAMO POWER DISTRICT NO PO BOX 189 ALAMO, NV ELECTRIC COOPERATIVE NEVADA 01 /A X ALASKA POWER ASSOCIATION W TUDOR RD ANCHORAGE, AX ELECTRIC COOPERATIVE kla SKA /A X ALASKA VILLAGE EC INC EAGLE ST ANCHORAGE, AX ELECTRIC COOPERATIVE ^LA SKA 01 /A X ALBEMARLE EMC PO BOX 69 HERTFORD, NC ELECTRIC COOPERATIVE ORTH CAROLINA 01 /A X 55-0i 14 24

25 Part II ALCORN COUNTY ELEC POWER ASSN PO BOX 1590 sang(5)21okul Public charity Direct controlling ^cabd status (rf ag-ab-? 501 (3)) Yes No CORINTH, MS ELECTRIC COOPERATIVE 11 ISSISSIPPI 01 /A X ALFALFAEC INC P.O. BOX 39 CHEROKEE OK ELECTRIC COOPERATIVE ALAHOMA 01 /A X ALGER-DELTA CO-OP ELEC ASSN N 9TH ST GLADSTONE, MI ELECTRIC COOPERATIVE ICHIGAN 01 /A X ALLAXAX EE-CLAYTON ELEC COOP INC PO BOX 715 POSTVILLE, IA ELECTRIC COOPERATIVE IOWA 01 /A X ALTAMAHA ENC PO BOX 346 LYONS, GA ELECTRIC COOPERATIVE EORGIA 01 /A X AMERICAN SAMOA POWER AUTHORITY P.O. BOX PPB PAGO PAGO, AS ELECTRIC COOPERATIVE RICAN SAMOA 01 /A X AMICALOLA EMC HIGHWAY 515 SOUTH JASPER, GA ELECTRIC COOPERATIVE EORGIA 01 /A X A-N ELECTRIC CO-OP COOPERATIVE WAY TASLEY, VA ELECTRIC COOPERATIVE IRGINIA 01 /A X ANZA ELECTRIC COOPERATIVE INC PO BOX ANZA, CA ELECTRIC COOPERATIVE ZALIFORNIA 01 /A X APPALACHIAN ELEC COOP PO BOX 400 NEW MARKET, TN ELECTRIC COOPERATIVE ENNESSEE 01 /A X ARAB ELECTRIC CO-OP PO BOX 770 ARAB, AL ELECTRIC COOPERATIVE AMA 01 /A X ARIZONA ELEC PWR CO-OP INC P 0 BOX 2195 BENSON, AZ ELECTRIC COOPERATIVE IZONA 01 /A X 05-0i-14 25

26 Part 11 ARK VALLEY ELEC COOP ASSN INC P 0 BOX 1246 Public charity status (if Direct controlling (?)2(bX13) co o-abd o9-t n? 501 (3)) Yes No HUTCHINSON, KS ELECTRIC COOPERATIVE KAN SAS 01 /A X ARK VALLEYELEC CO-OP CORP P 0 BOX 47 OZARK, AR ELECTRIC COOPERATIVE ARKAN SAS 01 /A X ARKANSAS ELEC CO-OPS INC PO BOX LITTLE ROCK, AR ELECTRIC COOPERATIVE krkansas 01 /A X ARROWHEAD ELEC CO-OP INC P.O. BOX 39 LUTSEN MN ELECTRIC COOPERATIVE INNESOTA 01 /A X ASHLEY-CHICOT ELEC CO-OP INC P 0 BOX 431 HAMBURG, AR ELECTRIC COOPERATIVE ARKANSAS 01 /A X ASSN OF ILLINOIS ELEC COOPS P 0 BOX 3707 SPRINGFIELD, IL ELECTRIC COOPERATIVE ILLINOIS 5 01 VA X ASSN OF LA ELEC CO-OPS AIRLINE HWY BATON ROUGE, LA ELECTRIC COOPERATIVE LOUISIANA 5 01 VA X ASSN OF MISSOURI ELEC CO-OP E MCCARTY ST JEFFERSON CITY, MO ELECTRIC COOPERATIVE ISSOURI 01 /A X ATCHISON-HOLT ELECTRIC CO-OP INDUSTRIAL RD ROCK PORT, MO ELECTRIC COOPERATIVE 11ISSOURI 01 /A X BADGER UNIFIED COOPERATIVE SERVICE , PO BOX 368, FALL CREEK, WI ELECTRIC COOPERATIVE ISCONSIN 01 /A X BAILEY COUNTY EC INC P.O. BOX 1013 MULESHOE, TX ELECTRIC COOPERATIVE ERAS 01 /A X BALDWIN COUNTY EMC HIGHWAY 59 SUMMERDALE AL LECTRIC COOPERATIVE AMA 01 /A X

27 Part II BANDERA ELECTRIC COOP INC PO BOX 667 Public chanty status (A Direct controlling,va an131 ag-t,-? 501 (3)) Yes No BANDERA, TE ELECTRIC COOPERATIVE EIIAS 01 /A X BARC ELEC COOP HIGH STREET MILLBORO, VA ELECTRIC COOPERATIVE IRGINIA 01 /A X BARRON ELECTRIC CO-OP HWY 25 NORTH BARRON, WI ELECTRIC COOPERATIVE WISCONSIN 51 /A X BARROW UTILITIES AND EC P.O. BOX 449 BARROW AE ELECTRIC COOPERATIVE ALA SKA 01 /A X BARRY ELECTRIC CO-OP MAIN STREET CASSVILLE MO ELECTRIC COOPERATIVE ISSOURI 01 /A X BARTLETT ELECTRIC COOP INC P.O. BOX 200 BARTLETT, TX ELECTRIC COOPERATIVE ERAS 01 /A X BARTON COUNTY ELECTRIC CO-OP P 0 BOX 459 LAMAR, MO ELECTRIC COOPERATIVE M ISSOURI 01 /A X HAYFIELD ELEC COOP INC P 0 BOX 68 IRON RIVER WI ELECTRIC COOPERATIVE W ISCONSIN 01 /A X BEARTOOTH ELEC CO-OP INC P.O. BOX 1110 RED LODGE, MT ELECTRIC COOPERATIVE MONTANA 01 /A X BEAUREGARD ELEC COOP INC EAST FIRST STREET DERIDDER, LA ELECTRIC COOPERATIVE LOUISIANA 01 /A X BEDFORD REC INC P.O. BOX 335 BEDFORD, PA ELECTRIC COOPERATIVE ENNSYLVANIA 01 /A X BELTRAMI ELEC CO-OP INC P 0 BOX 488 BEMIDJI MN LECTRIC COOPERATIVE INNESOTA /A X

28 Schedule R(Form990) NRECA GROUP BENEFITS TRUST Part II BENCO ELECTRIC COOPERATIVE P.O. BOX 8 Public charity status (rf 501(c((3)) Direct controlling sr^?)2rot,al ^eabd MAN ATO, MN ELECTRIC COOPERATIVE MINNESOTA 01 /A X BENTON REA PO BOX 1150 PROSSER, WA ELECTRIC COOPERATIVE ASHINGTON 01 /A X BERKELEY ELEC CO-OP INC PO BOX 1234 MONCKS CORNER NC ELECTRIC COOPERATIVE OATH CAROLINA 01 /A X BIG BEND ELEC CO-OP INC PO BOX 348 RITZVILLE, WA ELECTRIC COOPERATIVE ASHINGTON 01 /A X BIG COUNTRY ELECTRIC P.O. BOX 518 ROBY, TX ELECTRIC COOPERATIVE ERAS /A X BIG FLAT ELEC CO-OP INC P.O. BOX 229 MALTA, MT ELECTRIC COOPERATIVE 11 ONTANA 01 /A X BIG HORN COUNTY ELEC CO-OP INC SOUTH MITCHELL HARDIN, MT ELECTRIC COOPERATIVE ONTANA 01 /A X BIG HORN REC P 0 BOX 270 BASIN, WY ELECTRIC COOPERATIVE WYOMING 01 /A X BIG SANDY RECC TH STREET PAINTSVILLE, KY ELECTRIC COOPERATIVE KENTUCKY 01 /A X BLACKLY-LANE COUNTY COOP ELEC ASSN , P.O. BOX 70, JUNCTION CITY, OR ELECTRIC COOPERATIVE REGON 01 /A X BLACK HILLS ELEC CO-OP INC COOPERATIVE WAY CUSTER, SD ELECTRIC COOPERATIVE OUTH DAKOTA 01 /A X BLACK RIVER ELEC CO-OP INC P.O. BOX 130 SUMTER, SC LECTRIC COOPERATIVE OUTH CAROLINA 01 /A X Yes No

29 Part 0 BLACK RIVER ELECTRIC CO-OP P.O. BOX 31 Primary actrvrty s_ o (Vs(bu13) Public charity Direct controlling to-abd status (d o.yd+_w+v 501 (3)) Yes No FREDERICKTOWN MO ELECTRIC COOPERATIVE ISSOURI 01 /A X BLUE GRASS ENERGY COOPERATIVE CORP , P.O. BOX 150, LAWRENCEBURG, KY ELECTRIC COOPERATIVE K ENTUCKY 01 /A X BLUE MOUNTAIN ENERGY SOUTH JORDAN GATEWAY SOUTH JORDAN UT ELECTRIC COOPERATIVE TAN 01 /A X BLUE RIDGE ELEC COOP INC P.O. BOX 277 PICKENS, SC ELECTRIC COOPERATIVE S OUTH CAROLINA /A X BLUE RIDGE EMC P.O. BOX 112 LENOIR, NC ELECTRIC COOPERATIVE ORTH CAROLINA /A X BLUE RIDGE MOUNTAIN EMC MAIN STREET YOUNG HARRIS, GA ELECTRIC COOPERATIVE EORGIA /A X BLUEBONNET ELECTRIC COOP INC HWY 71 WEST, BLDG. #2 BASTROP, TX ELECTRIC COOPERATIVE ERAS 01 /A X BLUESTEM ELECTRIC COOPERATIVE, INC , EAST HIGHWAY 24, WAMEGO KS ELECTRIC COOPERATIVE SAS 01 /A X BON HOMME YANKTON ELEC ASSN INC P.O. BOX 158 TABOR, SD ELECTRIC COOPERATIVE S OUTH DAKOTA /A X BOONE COUNTY REMC INDIANPOLIS AVENUE LEBANON, IN ELECTRIC COOPERATIVE INDIANA 01 /A BOONE ELEC CO-OP P.O. BOX 797 COLUMBIA, MO ELECTRIC COOPERATIVE 14ISSOURI 01 /A X BOWIE-CASS ELECTRIC COOP INC P 0 BOX 47 DOUGLASSVILLE, TX ELECTRIC COOPERATIVE ERAS 01 /A X a 2 29

30 Part II BRAZOS ELECTRIC POWER CO-OP INC P.O. BOX 2585 s«d, Public charity Direct controlling status (d o.^^^o«^t 501 (3)) Yes No WACO, TX ELECTRIC COOPERATIVE ERAS 01 /A X BRIDGER VALLEY ELEC ASSN INC P.O. BOX 399 MOUNTAIN VIEW WY ELECTRIC COOPERATIVE OMING 01 /A X BROAD RIVER ELEC COOP INC P.O. BOX 2269 GAFFNEY, SC ELECTRIC COOPERATIVE OUTH CAROLINA 01 /A X BROWN COUNTY REA STATE HWY 4 SLEEPY EYE, MN ELECTRIC COOPERATIVE INNESOTA 01 /A X BROWN-ATCHISON ELEC COOP ASSN INC , PO BOX 230, HORTON, KS ELECTRIC COOPERATIVE KANSAS 01 /A X BRUNSWICK EMC PO BOX 826 SHALLOTTE NC ELECTRIC COOPERATIVE NORTH CAROLINA 01 /A X BUCKEYE POWER INC G F. T BUSCH BLVD COLUMBUS, OH ELECTRIC COOPERATIVE HIO 01 /A X BUCKEYE R E C INC STATE ROUTE 325 SOUTH RIO GRANDE OH ELECTRIC COOPERATIVE HIO 01 /A X BURKE-DIVIDE ELEC CO-OP INC PO BOX 6 COLUMBUS, ND ELECTRIC COOPERATIVE NORTH DAKOTA 01 /A X BURT COUNTY PPD P.O. BOX 209 TERAMAH NE ELECTRIC COOPERATIVE NEBRASKA 01 /A X BUTLER COUNTY REC P.O. BOX 98 ALLISON, IA ELECTRIC COOPERATIVE IOWA 01 /A X BUTLER PUBLIC POWER DISTRICT N 4TH ST DAVID CITY, NE ELECTRIC COOPERATIVE EBRASKA 01 /A X a Us

31 Part II BUTLER REC P 0 BOX 1242 Prima ry activ ity (8) (? ) Public chanty Direct controlling ^=^^valed ^a status (if «gan,etm? 501 (3)) Yes No EL DORADO, KS ELECTRIC COOPERATIVE KAN SAS 01 /A X BUTLER REC INC STILLWELL-BECKETT ROAD OXFORD, OH ELECTRIC COOPERATIVE :)RIO 01 /A X BUTTE ELEC CO-OP INC PO BOX 137 NEWELL, SD ELECTRIC COOPERATIVE S OUTH DAKOTA 01 /A X C B L ELECTRIC CO-OP CORP P.O. BOX 9 STAR CITY, AR ELECTRIC COOPERATIVE MUKANSAS _ 01 /A X C & T ENTERPRISES, INC NORTH MAIN STREET MANSFIELD, PA ELECTRIC COOPERATIVE PENNSYLVANIA 01 /A X C M S ELEC CO-OP INC P.O. BOX 790 MEADE, KS ELECTRIC COOPERATIVE KANSAS 01 /A X CADDO ELEC CO-OP P 0 BOX 70 BINGER, OK ELECTRIC COOPERATIVE ELAHOMA /A X CALHOUN COUNTY ELEC COOP ASSN P.O. BOX 312 ROCKWELL CITY, IA ELECTRIC COOPERATIVE IOWA 01 /A X CALLAWAY ELECTRIC CO-OP PO BOX 250 FULTON, MO ELECTRIC COOPERATIVE 11 ISSOURI 01 /A X CAM-WAL ELEC CO-OP INC PO BOX 135 SELBY, SD ELECTRIC COOPERATIVE S OUTH DAKOTA 01 /A X CANADIAN VALLEY ELEC COOP P.O. BOX 751 SEMINOLE, OK E LECTRIC COOPERATIVE KLAHOMA 01 /A X CANEY FORK ELEC COOP INC PO BOX 272 MCMINNVILLE TN LECTRIC COOPERATIVE ENNESSEE 01 /A X

32 Part II CANEY VALLEY ELEC COOP ASSN INC P.O. BOX 308 san^or(?12ok13) Public charity Direct controlling =o-aba status (d oga-i-a 501 (3)) Yes No CEDAR VALE, KS ELECTRIC COOPERATIVE KANSAS 01 /A X CANOOCHEE EMC PO BOX 487 REIDSVILLE, GA ELECTRIC COOPERATIVE EORGIA 01 /A X CAPE HATTERAS ELECTRIC CO-OP P.O. BOX 9 BUXTON, NC ELECTRIC COOPERATIVE ORTH CAROLINA 01 /A X CAPITAL ELEC CO-OP INC PO BOX 730 BISMARCK ND ELECTRIC COOPERATIVE ORTH DAKOTA 01 /A X CARBON POWER & LIGHT INC P.O. BOX 579 SARATOGA, WY ELECTRIC COOPERATIVE WYOMING 01 /A X CARROLL ELEC CO-OP CORP P.O. BOX 4000 BERRYVILLE, AR ELECTRIC COOPERATIVE krkansas 01 /A X CARROLL ELEC COOP INC P.O. BOX 67 CARROLLTON, OH ELECTRIC COOPERATIVE HIO 01 /A X CARROLL EMC N. HWY 113 CARROLLTON, GA E LECTRIC COOPERATIVE EORGIA 01 /A X CARROLL WHITE REMC PO BOX 599 MONTICELLO, IN ELECTRIC COOPERATIVE NDIANA 01 /A X CARTERET-CRAVEN ELECTRIC CO-OP P.O. BOX 1490 NEWPORT, NC ELECTRIC COOPERATIVE ORTH CAROLINA 01 /A X CASS COUNTY ELEC CO-OP INC ND ST S STE 200 FARGO, ND LECTRIC COOPERATIVE ORTH DAKOTA 01 /A X CAVALIER REC INC P.O. BOX 749 LANGDON, ND ^::4 1,ECTRIC COOPERATIVE 00TH DAKOTA 01 /A X

33 Part II (Q S«.(S)z(bM+3) Public charity Direct controlling ro ^ d status (if oa^^^o^'+ 501 (3)) Yes No CEDAR-1CNOE PPD HIGHWAY 84 WEST RARTINGTON, NE ELECTRIC COOPERATIVE EBRASKA 01 /A X C ENTRAL ALABAMA ELEC CO-OP P.O. BOX PRATTVILLE, AL ELECTRIC COOPERATIVE klabama 01 /A X CENTRAL EC INC P.O. BOX 329 PARKER PA ELECTRIC COOPERATIVE P ENNSYLVANIA 01 /A X CENTRAL ELEC CO-OP INC P.O. BOX 846 REDMOND, OR ELECTRIC COOPERATIVE REGON 01 /A X CENTRAL ELEC POWER ASSN P.O. BOX 477 CARTHAGE, MS ELECTRIC COOPERATIVE ISSISSIPPI 01 /A X CENTRAL ELEC POWER CO-OP PO BOX 269 JEFFERSON CITY, MO ELECTRIC COOPERATIVE ISSOURI 01 /A X CENTRAL ELEC POWER COOP INC P.O. BOX 1455 COLUMBIA, SC ELECTRIC COOPERATIVE GOTH CAROLINA 01 /A X CENTRAL ELECTRIC COOP PO BOX 850 MITCHELL, SD ELECTRIC COOPERATIVE GOTH DAKOTA 01 /A X CENTRAL EMC WILSON ROAD SANFORD, NC ELECTRIC COOPERATIVE 'TORTS CAROLINA 01 /A X CENTRAL FLORIDA ELECTRIC CO-OP INC , P 0 BOX 9, CHIEFLAND, FL ELECTRIC COOPERATIVE FLORIDA 01 /A X CENTRAL GEORGIA EMC SOUTH MULBERRY STREET JACKSON, GA ELECTRIC COOPERATIVE EORGIA 01 /A X CENTRAL MISSOURI ELEC COOP P.O. BOX 939 SEDALIA, MO ELECTRIC COOPERATIVE ISSOURI /A X