Attach to Form 990 or 990-EZ.| Identifier | Return Reference | Explanation |
|---|---|---|
| FORM 990, PART VI, SECTION A, LINE 6 | INDIVIDUALS TYPICALLY BECOME MEMBERS IF THEY ARE HIRED TO WORK FOR AN EMPLOYER COVERED BY CONTRACT NEGOTIATED BY THE ORGANIZATION. MEMBERS PAY DUES BASED ON THEIR WAGE RATES. | |
| FORM 990, PART VI, SECTION A, LINE 7A | EVERY THREE YEARS, THE ORGANIZATION'S FULL MEMBERSHIP ELECT MEMBERS TO SERVE ON THE EXECUTIVE BOARD OF THE ORGANIZATION. | |
| FORM 990, PART VI, SECTION A, LINE 7B | ANY CHANGES TO THE BY-LAWS MUST BE APPROVED BY THE FULL MEMBERSHIP. CONTRACTS NEGOTIATED WITH EMPLOYERS MUST BE RATIFIED BY THE MEMBERS EMPLOYED BY THAT EMPLOYER. | |
| FORM 990, PART VI, SECTION B, LINE 11 | FORM 990 IS PREPARED BY CPA FIRM HIRED BY LOCAL. CPA FIRM FORWARDS COPY TO SECRETARY-TREASURER. SECRETARY-TREASURER REVIEWS FORM 990 AND POINTS OUT ANY POSSIBLE ERRORS FOUND TO CPA FIRM. A DIALOGUE BETWEEN THE CPA FIRM AND THE SECRETARY-TREASURER TAKES PLACE UNTIL ALL ISSUES ARE RESOLVED. THE CPA FIRM THEN FILES THE FORM 990 ON BEHALF OF THE LOCAL AND FORWARDS A COPY TO THE LOCAL. | |
| FORM 990, PART VI, SECTION C, LINE 19 | GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS MAY BE VIEWED BY MEMBERS AT THE LOCAL'S OFFICE. | |
| CHANGES IN NET ASSETS OR FUND BALANCES: | FORM 990, PART XI, LINE 5: | NET UNREALIZED GAINS ON INVESTMENTS: 28,656. SEVERANCE PLAN INTEREST AND DIVIDENDS 9,399. DIFFERENCE IN SEVERANCE PLAN PAYMENT 12/2009 TO 12/2010 -4,541. TOTAL TO FORM 990, PART XI, LINE 5: 33,514. |
| ACCOUNTING METHOD | FORM 990, PART XI, LINE 1 | MODIFIED CASH BASIS |
| CHANGE IN NET ASSETS DIFFERENCE | FORM 990, SCHEDULE D, PART XI | IN SCHEDULE D, PART XI, THE AMOUNT ON LINE 10 REPRESENTING THE EXCESS(DEFICIT) FOR THE YEAR PER THE AUDITED FINANCIAL STATEMENTS IS THE AMOUNT WHICH WOULD APPEAR ON THE FINANCIAL STATEMENTS IF THE FINANCIAL STATEMENTS WERE NOT CONSOLIDATED WITH THE LOCAL 344 SEVERANCE PLAN. SINCE THE FINANCIAL STATEMENTS ARE CONSOLIDATED, THE CHANGE IN NET ASSETS IS $113,500 INSTEAD OF $108,959. |
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