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TIN:
SCHEDULE O
(Form 990 or 990-EZ)
Department of the Treasury
Internal Revenue Service
(Form 990 or 990-EZ)
Department of the Treasury
Internal Revenue Service
Supplemental Information to Form 990 or 990-EZ
Complete to provide information for responses to specific questions on
Form 990 or to provide any additional information.
Attach to Form 990 or 990-EZ.
Information about Schedule O (Form 990 or 990-EZ) and its instructions is atwww.irs.gov/form990.
OMB No. 1545-0047
2013
Open to Public
Inspection
Inspection
Name of the organization
ROCKY MOUNTAIN VENTURE CAPITAL ASSOCATION
F/K/A VENTURE CAPITAL ASSOC FOR COLORADO
F/K/A VENTURE CAPITAL ASSOC FOR COLORADO
Employer identification number
84-1554851
84-1554851
| Return Reference | Explanation |
|---|---|
| PART VI SECTION B POLICIES LINE 11B | THE ORGANIZATION ENGAGES AN OUTSIDE TAX PROFESSIONAL TO PREPARE THE ANNUAL TAX FILING FORM. THE TAX PREPARER PREPARES THE FORM 990 FROM FINANCIAL RECORDS MAINTAINED BY THE ORGANIZATION ON QUICK BOOKS. THE PREPARED FORM 990 IS SUBMITTED IN DRAFT TO THE EXECUTIVE DIRECTOR, CHAIRMAN OF THE BOARD, AND TREASURER FOR REVIEW. ONCE THE REVIEW PROCESS IS COMPLETE THE FORM IS FINALIZED AND FILED. THE FILING IS DISCUSSED IN AN AT LARGE BOARD MEETING. |
| PART VI SECTION B LINE 12a | THE ORGANIZATION DOES NOT HAVE A DIRECT CONFLICT OF INTEREST POLICY. THE ORGANIZATION HAS ADQUATE INTERNAL CONTROLS TO PREVENT CONFLICTS FROM OCCURRING. THERE EXISTS AN APPROPRIATE DEGREE OF DUTY SEGRATION. THE EXECUTIVE BOARD AND AT LARGE BOARD ARE EXPECTED TO ACT ETHICALLY AND ARE HELD ACCOUNTABLE TO EACH OTHER AND TO THE ORGANIZATION. THE BOARD DISCUSSES AND APPROVES ALL SIGNIFICANT TRANSACTIONS AND EVENTS. THE ORGANIZATION IS OPERATED DAY-TO-DAY BY A PROFESSIONAL EXECUTIVE DIRECTOR WHO IS ACCOUNTABLE TO THE EXECUTIVE BOARD. DUE TO THE NATURE OF THE ORGANIZATION'S PUBLIC PURPOSE, SIZE, REVENUE STREAM AND EXPENSES, CONFLICTS OF INTEREST ARE NOT CONSIDERED TO BE A SIGNIFICANT RISK. |
| PART VII SECTION A COLUMN B | THE CHAIRMEN AND THE TREASURER HAVE MORE EXTENSIVE ORGANIZATION RESPONSIBILITIES AND DUTIES THAT THE OTHER MEMBERS. THE CHAIRMEN IS THE PRIMARY FACE FOR THE ORGANIZATION FOR PUBLIC APPEARANCES, OUTSIDE MEETINGS, PRESS RELEASES, ETC. THE TREASURER SPENDS ADDITIONAL TIME REVIEWING FINANCIAL DATA, APPROVING CONTRACTS AND OVERSEEING THE ED'S ACTIVITIES. THESE POSITIONS REQUIRE THE MEMBERS TO SPEND APPROXIMATELY 2 HOURS PER WEEK IN ORDER TO PERFORM THEIR DUTIES. DIRECTORS THAT CHAIRMAN OR LEAD MEMBERS OF VARIOUS BOARD COMMITTEES SPEND APPROXIMATELY 2 HOURS MORE PER WEEK ON COMMITTEE DUTIES. THE ADDITONAL TIME IS A FUNCTION OF MANAGING AND LEADING THEIR RESPECTIVE COMMITTEE. AT LARGE DIRECTORS SPEND 1 HOUR PER WEEK TO ATTEND BOARD MEETING AND ATTEND OTHER ORGANIZATION MEETINGS AND EVENTS. |
| Part V Line 2a | The Taxpayer has no employees. The only paid position is that of the Executive Director, Nanette Schunk. The taxpayer has out sourced the executive director position to Strategic Marketing Solution, Inc. The Executive Director is employed by this Company. |
| INDEPENDENT CONTRACTORS | The Taxpayer has no employees. No Independent Contractors were paid more than $100,000. |
| Part VI Section B Line 15 - Executive Director Compensation | The only paid position is that of the OUTSOURCED Executive Director AS AN INDEPENDENT CONTRACTOR. The annual compensation is determined approved by the Board and is based upon comparable data and market conditions. |
| Part VI Section C Line 19 | THE ORGANIZATION MAINTAINS A COMPHREHENSIVE WEBSITE THAT DISCLOSES IMPORTANT INFORMTION. THE ORGANIZATION'S GOVERNING DOCUMENTS ARE NOT MADE AVAILABLE TO THE PUBLIC. REQUESTS FOR FINANCIAL INFORMTION AND PUBLIC TAX FILING INFORMTION ARE INFREQUENT. ACCORDINGLY, SUCH REQUESTS ARE HANDLED BY THE EXECUTIVE DIRECTOR ON AN AS REQUIRED BASIS. THE COMPANY DOES NOT CHARGE A FEE FOR PROVIDING THIS INFORMATION. THE ORGANIZATION'S ANNUAL TAX FILING SERVES AS THE FINANICAL STATEMENT. |
| PArt XII Line 2a | THE ORGANIZATION'S ANNUAL TAX FILING SERVES AS THE FINANICAL STATEMENT. |
| SECTION A GOVERNING BODY AND MANAGEMENT QUESTION 3 | The ORGANIZATION has out sourced the executive director position to Strategic Marketing Solution, Inc. The Executive Director (NANETTE SCHUNK) is employed by this Company. Strategic Marketing Solution, Inc. IS PAID $40,000 ANNUALLY FOR ITS SERVICES AS AN INDEPENDENT CONTRACTOR. The Executive Director is paid $40,000 by Strategic Marketing Solution, Inc.by The annual compensation is determined approved by the Board and is based upon comparable data and market conditions. THERE EXISTS NO CONFLICTS OF INTEREST BETWEEN Strategic Marketing Solution, Inc., THE EXECUTIVE DIRECTOR, THE ORGANIZATION AND THE BOARD MEMBERS. THE EXECUTIVE DIRECTOR WORKS PRIMARILY 20 HOURS PER WEEK FOR THE ORGANIZATION. THE EXECUTIVE DIRECTOR IS RESPONSIBLE FOR THE ORGANIZATION'S DAY-TO-DAY GENERAL OPERATIONS AND EXECUTES ON THE ORGANIZATION'S INITIATIVES. THE EXECUTIVE DIRECTOR'S PRIMARY CONTACT IS WITH THE CHAIRMEN AND THE TREASURER. THE EXECUTIVE DIRECTOR ATTENDS ALL SIGNIFICANT MEETINGS AND PORTIONS OF EACH BOARD MEETING. DURING CRITICAL TIMES (CONFERENCES, ADVANCE PLANNING, ETC.) THE EXECUTIVE DIRECTOR MAY SPEND UP TO 40 HOURS PER WEEK ON ORGANIZATION ACTIVITIES. PER WEEK ON ORGANIZATION ACTIVITIES. |
| Part XI Reconcilation of Net Assets | Line 9 Other changes in net assets Rounding adjustment $-1 |
For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.
Cat. No. 51056K
Schedule O (Form 990 or 990-EZ) 2013
Additional Data
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