VALLEY ELECTRIC ASSOCIATION INC

Prior to the membership approved bylaw amendments in 2018, the cooperative provided internet/broadband services to all subscribers on a non-patronage and unrelated business income basis. One of the membership approved bylaw amendments is to provide internet/broadband services to members on a patronage, nonprofit basis. Therefore, the cooperative has expanded its exempt purposes to include the provision of internet/broadband services to members on a patronage basis. Such services continue to be provided to non-members on a non-patronage basis. There were 11,092 active services at year end.