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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 990-EZ 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
2015
Open to Public
Inspection
Inspection
Name of the organization
AZIONAQUA CLUB INC
Employer identification number
35-1051260
35-1051260
| Return Reference | Explanation |
|---|---|
| FORM 990 - ORGANIZATION'S MISSION | AZIONAQUA CLUB., INC. PROVIDES A PLACE FOR MEMBERS AND THEIR GUESTS TO RELAX AND ENJOY SOCIAL FELLOWSHIP TOGETHER. THE CORPORATION MAY PERFORM ANY PURPOSE FOR WHICH NON-PROFIT AND EXEMPT ORGANIZATIONS ARE AUTHORIZED TO CONDUCT UNDER THE CURRENT AND ANY FUTURE EXEMPT OR NON-PROFIT CODE AS REGULATED BY THE INTERNAL REVENUE SERVICE AND THE STATE OF INDIANA. |
| FORM 990, PAGE 1, PART I, LINE 6 | MEMBER PARENTS OF SWIM TEAM MEMBERS MAY VOLUNTEER AT SWIM TEAM MEETS TO PERFORM DUTIES NECESSARY TO RUN THE MEET. FOR EXAMPLE, THEY MAY RECORD TIMES, CLOCK LANE TIMES, ANNOUNCE EVENTS, OR PERFORM OFFICIALING SERVICES. NO MEMBERS ARE COMPENSATED FOR THEIR VOLUNTEER SERVICES. |
| FORM 990, PAGE 2, PART III, LINE 3 | IN 2015,CHANGES WERE ADOPTED TO THE AZIONAQUA CLUB, INC. BYLAWS. THE BYLAWS DEFINE,INCLUDING BUT NOT LIMITED TO, THE MEMBERSHIP STRUCTURE, THE MEMBERSHIP INITIATION FEE AND DUES, GOOD GOVERNANCE POLICIES, AND OTHER STANDARD OPERATING PROCEDURES DESIGNED TO SAFEGUARD THE CORPORATION'S FINANCIAL ASSETS AND PHYSICAL FACILITIES, POOL, AND GROUNDS. |
| FORM 990, PART VI | WRITTEN INTERNAL CONTROL PROCEDURES AND SUGGESTIONS ARE NOW IN FORCE. THEY ARE SUBMITTED TO ENSURE THAT THE CORPORATION'S ASSETS AND RESOURCES ARE SAFEGUARDED AND SECURED. THEY COVER BEST STANDARD OPERATING PROCEDURES, BUT ARE NOT LIMITED TO THE FOLLOWING: 1. CASH RECONCILIATION AND BALANCING 2. FINANCIAL REPORTS PREPARED BY THE ORGANIZATION 3. CPA ATTEST SERVICES: AUDIT, REVIEW, COMPILIATION 4. CASH/CONCESSION CONTROLS 5. PROPERTY AND EQUIPMENT 6. GENERAL CONTROLS 7. FINANCIAL/TAX/LICENSES REPORTING DEADLINES (TO BE UPDATED) 8. FUTURE MAJOR REPAIRS AND REPLACEMENTS 1.RECONCILATIONS/ BALANCING -RECONCILING CASH ACCOUNTS THE RECONCILIATION OF THE ORGANIZATIONS BANK STATEMENTS SHOULD USE INDEPENDENT SOURCES OF INFORMATION AS AN AUDIT OF THE CASH POSITION. THE TREASURER SHOULD VERIFY THAT THE ORGANIZATIONS BANK AND BOOKKEEPER AGREE TO THE OVERALL CASH POSITION. THE RECONCILIATION SHOULD CLEARLY IDENTIFY STARTING AND ENDING PERIODIC BALANCES OF BOTH THE BANK STATEMENT AND BOOK SOURCES, LISTING MAJOR ITEMS WHICH RECONCILE ANY DIFFERENCES BETWEEN THE TWO. -BALANCING THE BANK ACCOUNT STARTING WITH A COPY OF THE CURRENT PERIOD BANK STATEMENT, THE RECONCILIATION STARTS WITH THE STATEMENTS ENDING BALANCE. TO IT ARE ADDED ANY DEPOSITS IN TRANSIT (DEPOSITS MAILED/DELIVERED TO THE BANK BUT NOT REFLECTED IN THE STATEMENT.) FROM IT ARE SUBTRACTED OUTSTANDING CHECKS (CHECKS WRITTEN IN THE ACCOUNTING PERIOD WHICH HAVE NOT YET CLEARED THE ACCOUNT.) ANY OTHER ITEMS (ACH, ELECTRONIC TRANSFER, NSF'S ETC) OF WHICH THE PREPARER KNOWS BUT IS NOT REFLECTED ON THE BANK STATEMENT SHOULD BE ADDED OR SUBTRACTED ACCORDINGLY. -BALANCING BOOK CASH THE BOOK CASH RECONCILIATION BEGINS WITH THE PRIOR PERIODS ENDING AMOUNT. TO IT ARE ADDED ALL THE CURRENT PERIOD'S ASSESSMENT PAYMENTS THAT WERE CREDITED IN THE BILLING SYSTEM, MISCELLANEOUS DEPOSITS, BANK INTEREST, AND OTHER CREDITS. FROM IT ARE SUBTRACTED ALL THE CHECKS WRITTEN IN THE ACCOUNTING PERIOD, BANK CHARGES, REJECTED PAYMENTS, ELECTRONIC DEBITS, ETC. -RECONCILING FORM: ALL ITEMS AFFECTING THE RECONCILIATION SHOULD BE CLEARLY DISPLAYED. THE BANK STATEMENT MUST BE INCLUDED SO BANK BALANCES CAN BE VERIFIED. CHECKS THAT HAVE BEEN OUTSTANDING FOR MORE THAN 90 DAYS SHOULD BE INVESTIGATED, AND DEPOSITS 'IN TRANSIT' FOR MORE THAN 1 ACCOUNTING PERIOD SHOULD BE INVESTIGATED. THE RECONCILED BALANCES SHOULD AGREE AND MATCH THE FINANCIAL STATEMENTS. 2. FINANCIAL REPORTS PREPARED BY THE ORGANIZATION: -BALANCE SHEET -INCOME STATEMENT -INCOME/EXPENSE TO BUDGET WITH VARIANCE EXPLANATION -CASH FLOW STATEMENT -STATEMENTS OF CHANGES TO FUND BALANCES -ACCOUNTANTS (OR AUDITORS) REPORT -NOTES TO FINANCIAL STATEMENTS (SIGNIFICANT ACCOUNTING POLICIES OR CHANGES, ASSESSMENT OF THE COLLECTABILITY OF ANY RECEIVABLES, INCOME TAXES, FUTURE MAJOR REPAIRS/REPLACEMENTS, COMMITMENT/CONTINGENCIES). 3. CPA SERVICES: AUDIT, REVIEW, COMPILATION AUDIT- THE HIGHEST LEVEL OF SERVICE RENDERED BY AN INDEPENDENT CPA ARE AUDITED FINANCIAL STATEMENTS. IN IT, FINANCIAL RECORDS ARE EXAMINED IN ACCORDANCE WITH GENERALLY ACCEPTED AUDITING STANDARDS. INCLUDED ARE TESTS OF ACCOUNTING RECORDS AND OTHER AUDITING PROCEDURES DEEMED NECESSARY BY THE CPA. THE CPA MUST BE INDEPENDENT WITH RESPECT TO THE ORGANIZATION. REVIEW-THE NEXT LEVEL OF SERVICE RENDERED BY A CPA. FINANCIAL STATEMENTS ARE SUBJECTED TO ANALYTICAL REVIEW AND INQUIRY AS A MEANS OF INSURING COMPLIANCE WITH GENERALLY ACCEPTED ACCOUNTING PRINCIPLES. THE CPA MUST BE INDEPENDENT WITH RESPECT TO THE ORGANIZATION. COMPILATION- THE LOWEST LEVEL OF SERVICE, A COMPILATION GIVES LIMITED ASSURANCE ON THE FINANCIAL STATEMENTS. COMPLILED STATEMENTS ARE APPROPRIATE WHEN ONLY CONFORMITY WITH GENERALLY ACCEPTED ACCOUNTING PRINCIPLES IS DESIRED. THIS SERVICE WILL PROVIDE CPA PREPARED CASH FLOW FORECASTS AND PROJECTIONS, BUDGETS, AND INTERIM (MONTHLY OR QUARTERLY) FINANCIAL STATEMENTS. IF THE CPA IS NOT INDEPENDENT OF THE ORGANIZATION, THIS MUST BE STATED WITHIN THE COMPILATION REPORT). 4. INTERNAL CONTROLS MEASURES SHOULD BE TAKEN BY THE ORGANIZATION TO SAFEGUARD ASSETS, CHECK THE ACCURACY AND RELIABILITY OF ACCOUNTING DATA, PROMOTE OPERATIONAL EFFICIENCY AND ENCOURAGE ADHERENCE TO POLICIES. THE BOARD IS RESPONSIBLE FOR THE ESTABLISHMENT AND MAINTENANCE OF EFFECTIVE INTERNAL CONTROLS. INTERNAL CONTROLS CAN SAFEGUARD ASSETS ONLY FROM LOSS THORUGH PROCESSING ERRORS OR IRREGULARITIES; THEY CANNOT PROTECT ASSETS FROM IMPROVIDENT MANAGEMENT DECISIONS OR FROM THE INTENT TO DEFRAUD. -CASH/CONCESSION CONTROLS 1. DUAL SIGNATURES ARE REQUIRED BY 2 EXECUTIVE BOARD MEMBERS. BANK SIGNATURE CARDS ARE REVIEWED AND UPDATED UPON ANY BOARD TURNOVER. THE SUBMISSION OF A BOARD RESOLUTION (AS WELL AS THE SUBMISSION OF THE SIGNATURE CARDS)IS REQUIRED BEFORE CHANGING AUTHORIZED ACCOUNT SIGNERS. THIS CONTROL ASSURES THAT NO SINGLE INDIVIDUAL HAS SOLE ACCESS TO THE ORGANIZATIONS FUNDS. A CHECK SIGNER SHOULD NEVER SIGN BLANK CHECKS IN ADVANCE. 2. CASH DISBURSEMENTS TO VENDORS SHOULD BE BASED ONLY ON ORIGINAL INVOICES. THE INVOICES SHOULD BE INSPECTED, THEIR AMOUNTS CHECKED FOR ACCURACY AND INITIAL-APPROVED (BY BOTH A MANAGER AND BOARD MEMBER). IF POSSIBLE, THE LAST CHECK SIGNER (NOT THE PREPARER) SHOULD MAIL THE CHECK. IF AN ELECTRONIC TRANSER SYSTEM IS USED TO PAY INVOICES, THE REVIEW AND APPROVAL OF INVOICES WILL BE SUBSTITUTE AS THE INTERNAL CONTROL. 3. CASH RECEIPTS SHOULD BE RESTRICTIVELY ENDORSED AND DEPOSITED PROMPTLY (PREFERABLE DAILY) IN A TAMPER PROOF BAG WITH ACCOMPANYING DEPOSIT SLIP. 4. CASH HANDLING SHOULD BE SEPARATED FROM DUTIES OF RECONCILING/RECORDING THE TRANSACTIONS. 5. ALL TRANSACTIONS SHOULD BE ENTERED INTO THE REGISTER AND A RECEIPT SHOULD BE PROVIDED TO THE CUSTOMER (ALL TRANSACTIONS SHOULD BE DOCUMENTED WITH AN ASSOCIATED RECEIPT). 6. DAILY POOL AND CONCESSION INCOME REPORTS SHOULD BE COMPLETED AND DETAIL ALL SALES TRANSACTIONS FOR THE DAY INCLUDING TOTAL REVENUE RECEIVED, SHORTAGE OR OVERAGE, AND THE RESULTING COLLECTION DEPOSIT. ATTACHED TO THE DAILY REPORTING FORMS SHOULD BE THE REGISTER TAPES (OR ANY OTHER REGISTER RECORDS THAT RECORD/SUMMARIZE DAILY SALES/COLLECTION ACTIVITY) AND DEPOSIT SLIPS. CASH DRAWERS SHOULD BE CHANGED BY EMPLOYEE SHIFT IF PRACTICAL. 7. VOIDS, OVER CHARGE, REFUNDS, ETC. SHOULD BE REVIEWED AND AUTHORIZED BY A SUPERVISOR, AND THE REGISTER TAPE/RECEIPT SHOULD BE INITIALED BY THE PERSON COMPLETING THE TRANSACTION AS WELL AS THE SUPERVISOR. 8. POOL PASSES SHOULD BE ISSUED IN SEQUENTIAL ORDER AND ENTERED INTO A POOL PASS SALES TRACKING LOG. PASSES SHOULD BE SOLD (OR GIFTED) TO CUSTOMERS IN SEQUENTIAL ORDER AND ENTERED INTO THE LOG. THE LOG SHOULD BE KEPT UP TO DATE AND AVAILABLE FOR REVIEW TO ASSURE PROPER CONTROL AND ACCOUNTABILITY. 9. AN ADEQUATE SAFE SHOULD BE AVAILABLE. ALL FUNDS SHOULD BE SECURED AT ALL TIMES IN A CASH REGISTER, LOCKING CASH BOX, OR SAFE. 10. ALL ACCOUNTS SHOULD BE IN THE NAME OR THE ASSOCIATION/ORGANIZATION, NOT TO ANY MANAGEMENT COMPANY OR INDIVIDUAL. 11. ALL MISSING CHECKS OR GAPS IN THE PRE-NUMBERED CHECK SEQUENCE SHOULD BE DOCUMENTED AND EXPLAINED. 12. NO CHECKS SHOULD BE MADE PAYABLE TO CASH. PETTY CASH REIMBURSEMENTS (IF APPLICABLE) SHOULD BE MADE TO THE CUSTODIAN OF THE FUNDS. 13. BEGINNING AND ENDING DAILY INVENTORIES SHOULD BE PERFORMED AT ALL ORGANIZATION OPERATED CONCESSION AREAS. 5. PROPERTY AND EQUIPMENT 1. ALL PROPERTY SHOULD BE INVENTORIED IN ORDER TO ESTABLISH ACCOUNTABILITY AND TRACKED VIA A PROPERTY LIST. THE PROPERTY LIST SHOULD INCLUDE DATE ACQUIRED, DESCRIPTION/SERIAL NUMBER, COST AND PHYSICAL LOCATION. ALL MOVABLE PROPERTY SHOULD BE PHYSICALLY INSPECTED AND INVENTORIED AT LEAST ONCE A YEAR. CONSIDERATION SHOULD BE GIVEN TO PHOTOGRAPHING HIGH COST/HIGH IMPORTANCE ITEMS FOR INSURANCE PURPOSES. 2. ESTABLISH/REVIEW THE CAPITALIZATION POLICY. 6. GENERAL CONTROLS 1. REVIEW AN INCOME AND EXPENSE STATEMENT FOR THE ORGANIZATIONS OPERATING ACCOUNTS ON AT LEAST A QUARTERLY BASIS. COMPARING ACTUAL RECEIPTS AND EXPENDITURES AS COMPARED TO BUDGET GIVES ASSURANCE THAT MONEY IS BEING SPENT AS PLANNED, OR HIGHLIGHTS DEVIATIONS FROM THE BUDGET. 2. REVIEW INSURANCE ANNUALLY, INCLUDING ANY LIABILITY, LOSS, FIDELITY BONDS, OR WORKERS COMPENSATION INSURANCE. 3. REVIEW THE INTERNAL CONTROL STRUCTURE ON AN ANNUAL BASIS. 7. FINANCIAL/TAX/LICENSES REPORTING DEADLINES (TO BE UPDATED) 8. FUTURE MAJOR REPAIRS AND REPLACEMENTS ON AN ANNUAL BASIS, OPERATING AND LONG TERM REPLACEMENT RESERVE BUDGETS SHOULD BE REVIEWED. THIS REVIEW OF THE LONG TERM MAINTENANCE PROGRAM SHOULD INCLUDE A BASIC PHYSICAL VISUAL INSPECTION BY EMPLOYEES OR DESIGNATED EXPERTS TO DETERMINE COMPONENT USEFUL LIFE, REMAINING LIFE, AND CURRENT REPLACEMENT COST. THIS DATA IS USED TO DETERMINE LONG TERM FUNDING (FUNDING PLAN). THIS FUNDING PLAN WILL ALLOW THE BOARD TO REASONABLY PLAN FOR FUTURE REPAIR AND REPLACEMENT OF MAJOR COMPONENTS. COMPONENT INFORMATION MAY COME FROM THE BOARD, CONTRACTORS, ARCHITECTS, ENGINEERS, ETC. MAJOR COMPONENT - CRITICAL COMPONENT IN THE OPERATION OF THE ORGANIZATION WHICH HAS A USEF |
| FORM 990, PAGE 6, PART VI, LINE 4 | THE BYLAWS FOR AZIONAQUA CLUB, INC. WERE REVISED AND ADOPTED ON JULY 28,2015. THE REVISED BYLAWS ESTABLISHED THAT AZIONAQUA CLUB, INC. BY-LAWS MAY BE AMENDED ONLY BY AFFIRMATIVE VOTE OF A MAJORITY OF THE BOARD OF DIRECTORS WITH NOTICE OF THE PROPOSED AMMENDMENT PROVIDED TO THE DIRECTORS AT LEAST (3) DAYS IN ADVANCE OF SUCH MEETING. |
| FORM 990, PAGE 6, PART VI, LINE 6 | THERE SHALL BE (1)ONE CLASS OF MEMBERSHIP IN THE AZIONAQUA CLUB, INC. THIS CLASS SHALL CONSIST OF PERSONS INTERESTED IN THE OBJECTIVE OF THIS CORPORATION WHO ARE OF GOOD MORAL CHARACTER, WHO MEET THE ELIGIBILITY REQUIREMENTS ESTABLISHED FORM TIME TO TIME BY THE BOARD OF DIRECTORS, AND WHO HAVE APPLIED AND BEEN APPROVED FOR MEMBERSHIP BY THE BOARD OF DIRECTORS. |
| FORM 990, PAGE 6, PART VI, LINE 7A | AN ANNUAL MEETING OF THE MEMBERS WILL BE HELD ON THE FOURTH TUESDAY IN THE MONTH OF AUGUST AT THE HOUR 6:30PM., FOR THE PURPOSE OF COMMUNICATION WITH THE MEMBERSHIP, UPDATES ON CORPORATION ACTIVITY, ELECTION OF DIRECTORS AND THE TRANSACTION OF SUCH OTHER BUSINESS AS MAY COME BEFORE THE MEETING. SPECIAL MEETINGS OF THE MEMBERS MAY BE CALLED BY THE PRESIDENT, A MAJORITY OF THE BOARD, OR BY PETITION STATING THE PURPOSE OF THE REQUESTED MEETING SIGNED BY AT LEAST TWENTY MEMBERS HAVING VOTING RIGHTS. A REGULAR ANNUAL MEETING OF THE BOARD OF DIRECTORS SHALL BE HELD WITHOUT OTHER NOTICE THAN THESE BYLAWS, WITHIN (30)THIRTY DAYS AFTER THE ANNUAL MEETING OF MEMBERS. |
| FORM 990, PAGE 6, PART VI, LINE 7B | THE BOARD OF DIRECTORS SHALL HAVE THE POWER TO MAKE AND ALTER THE BY-LAWS, INCLUDING THE FIXING AND ALTERING OF THE NUMBER OF DIRECTORS. THESE BY-LAWS MAY BE AMENDED ONLY BY THE AFFIRMATIVE NOTE OF A MAJORITY OF THE BOARD OF DIRECTORS WITH NOTICE OF THE PORPOSED AMENDMENT PROVIDED TO DIRECTORS AT LEAST (3) DAYS IN ADVANCE OF SUCH MEETING. THE BOARD OF DIRECTORS SHALL SELECT A PRESIDENT, ONE OR MORE VICE-PRESIDENT(S), A SECRETARY, AND A TREASURER. THE BOARD SHALL HAVE THE POWER TO APPOINT SUCH OTHER OFFICERS AND AGENTS AS THE BOARD MAY DEEM NECCESSARY FOR TRANSACTION OF THE BUSINESS OF THE CORPORATION. ANY OFFICER OR AGENT MAY BE REMOVED BY THE BOARD OF DIRECTORS WHENEVER IN THE JUDGMENT OF THE BOARD THE INTEREST OF THE CORPORATION WILL BE SERVED THEREBY. THE BOARD SHALL ALSO HAVE POWER TO FILL ANY VACANCY IN ANY OFFICE OCCURRING FOR ANY REASON WHATSOVER. |
| FORM 990, PAGE 6, PART VI, LINE 11B | THE AZIONAQUA CLUB, INC. BOARD MEMBERS REVIEW A DRAFT OF THE FORM 990 AS PREPARED BY A CPA. AFTER THE BOARD'S REVIEW AND APPROVAL OF THE TAX RETURN,THE TAX RETURN MAY BE FILED WITH THE APPROPRIATE FEDERAL AND STATE GOVERNMENT INCOME TAX AGENCIES AND MADE AVAILABLE FOR PUBLIC REVIEW. |
| FORM 990, PAGE 6, PART VI, LINE 15A | THE BOARD OF DIRECTORS REVIEWS THE COMPENSATION OF SALARIED AND HOURLY EMPLOYEES WITH COMPENSATION PACKAGES CURRENTLY AVAILABLE AND PUBLISHED FROM COMPARATIVE ENTITIES. THE CURRENT PAY GRADE FOR THE TOP MANAGEMENT OFFICAL, THE POOL MANAGER, IS REVIEWED BY THE BOARD OF DIRECTORS WITH THE TOP MANAGEMENT OFFICAL RECUSING THEMSELVES FROM THE VOTE. EVERY MEMBER AND OFFICER OF THE BOARD OF DIRECTORS VOLUNTEER THEIR SERVICE AND ARE NOT COMPENSATED FOR THE PERFORMANCE OF THEIR DUTIES AS A BOARD MEMBER. THEIR DUTIES ARE DESCRIBED IN THE BYLAWS OF THE CORPORATION. |
| FORM 990, PAGE 6, PART VI, LINE 15B | SALARIED EMPLOYEES AND COACHES ARE PAID BASED ON SEVERAL VARIABLES SUCH AS YEARS OF EXPERIENCE, ACTIVITY ATTENDANCE, COMPARABLE SALARIES, AND CERTIFICATIONS. |
| FORM 990, PAGE 6, PART VI, LINE 19 | AVAILABLE UPON REQUEST |
For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.
Cat. No. 51056K
Schedule O (Form 990 or 990-EZ) 2015
Additional Data
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