Attach to Form 990 or 990-EZ.
Information about Schedule O (Form 990 or 990-EZ) and its instructions is at| Return Reference | Explanation |
|---|---|
| General explanation attachment | SECTION 1.263(A)-1(F) DE MINIMIS SAFE HARBOR ELECTION: THE COMPANY (NORTHWEST AUTOMOTIVE PRESS ASSOC, FEIN:91-1466642) HEREBY ADOPTS FOR BOOK AND FEDERAL/STATE INCOME TAX PURPOSES THE FOLLOWING POLICY REGARDING CAPITALIZATION EXPENSES FOR THE YEAR BEGINNING JANUARY 1, 2015. IN ACCORDANCE WITH INTERNAL REVENUE CODE SECTIONS 167 AND 168 AND RELATED REGULATIONS 1.263(A)-1(F), THE COMPANY (NORTHWEST AUTOMOTIVE PRESS ASSOC) HAS DETERMINED THAT AMOUNTS WHOSE INDIVIDUAL COST (INCLUDING TAX, INSTALLATION AND DELIVERY COSTS) DOES NOT EXCEED $ 2,500 WILL BE DEDUCTED AS INCURRED AS AN OPERATING EXPENSE. AMOUNTS EXCEEDING THIS DOLLAR LIMIT WILL BE EXAMINED INDIVIUALLY TO DETERMINE IF THEIR USE OR PURPOSE REQUIRES CAPITALIZATION UNDER BETTERMENT, ADAPTATION OR RESTORATION RULES USED BY THE IRS |
| Description of other expenses Part I line 16 | DESCRIPTION AMOUNTINSURANCE 1,036ADMINISTRATIVE EXPENSES 2,376EVENT EXPENSES 103,423SCHOLARSHIP PROGRAM 12,100MEMBERSHIP EXP 8,566PROFESSIONAL SVCS 1,000MARKETING 2,364DEPRCIATION 701 |
| Description of other assets Part II line 24 | CATEGORY BEGINNING OF YEAR END OF YEARACCOUNTS RECEIVABLE 3,100 3,600FIXED ASSETS 0 2,802 |
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