Attach to Form 990 or 990-EZ.| Identifier | Return Reference | Explanation |
|---|---|---|
| Form 990, Part XII, Line 1 | Form 990, Part XII, Line 1: Change of Accounting Method | Per the recommendation of our outside auditors (Plante Moran), we changed our accounting method on Form 990 from cash to accrual in 2012. |
| Form 990, Part VI, Line 19 | Form 990, Part VI, Line 19: Other Organization Documents Publicly Available | Requests can be made to the Treasurer at 248-420-9430 or on our website, elvsolutions.org. |
| Form 990, Part VI, Line 15b | Form 990, Part VI, Line 15b: Compensation Review and Approval Process for Officers and Key Employees | There is a competitive bidding policy for the management companies retained, after which minor changes are negotiated and finalized through a contract process. |
| Form 990, Part VI, Line 11b | Form 990, Part VI, Line 11b: Form 990 Review Process | The preparer submits a draft of the return to the Treasurer and Management company Executive Director to read, question and adjust as needed before filing. All three discuss any items in question. After agreement is reached, the Treasurer signs the authorization to file. |
| Form 990, Part VI, Line 6 | Form 990, Part VI, Line 6: Explanation of Classes of Members or Shareholder | Members are invoiced for their dues, based on their market share. |
| Form 990, Part VI, Line 4 | Form 990, Part VI, Line 4: Description of Significant Changes to Organizational Documents | Upon the advice of their auditors, the Board amended their by-laws to include broader distribution of their accounting functions and to have an internal Audit Committee review accounting records monthly. These are preventative measures, not adopted as a response to any problems. |
| Form 990, Part VI, Line 3 | Form 990, Part VI, Line 3: Description of Delegated Duties to Management Company | Duties of Management companies included development of educational materials; communication with recyclers; invoicing of members; record-keeping of accomplishments; compliance with all state reporting requirements; and general oversight and implementation of program. |
| Client Note 1 - 2012 Form 990 End of Life Vehicle Solutions Inc. 20-3429074 Schedule D; Part X "Other Liabilities"; Line (3) $ 4,500,000 ----------------------------------------------------Notes: 1. In 2011, as a result of its bankruptcy, Motors Liquidation Company (a.k.a. old General Motors Corporation) was ordered by the court to pay their share of current obligations in the form of GM stock and warrants. These securities were all sold in 2011 and 2012 and MLC/GM was given credit towards their current obligations for the amount of proceeds received.2. The Advances from General Motors Company on the Balance Sheet are a one-time payment from the new General Motors Company to be applied to all future obligations of the prior (now defunct) GM Corporation. |
| Software ID: | 12000229 |
| Software Version: | 2012v2.0 |