Attach to Form 990 or 990-EZ.
Information about Schedule O (Form 990 or 990-EZ) and its instructions is at| Return Reference | Explanation |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 6 | THE CORPORATION IS A MEMBERSHIP CORPORATION. PERSONS ELIGIBLE FOR MEMBERSHIP SHALL INCLUDE PROPERTY OWNERS AND COMMERCIAL AND RESIDENTIAL TENANTS IN THE CID AREA. |
| FORM 990, PART VI, SECTION A, LINE 7A | MEMBERS OF THE MOUNT VERNON TRIANGLE COMMUNITY IMPROVEMENT DISTRICT ELECT THE ORGANIZATION'S GOVERNING BODY (BOARD OF DIRECTORS) |
| FORM 990, PART VI, SECTION B, LINE 11 | THE BOARD OF DIRECTORS REVIEWS THE 990 PRIOR TO FILING THE RETURN. |
| FORM 990, PART VI, SECTION B, LINE 12C | EMPLOYEES HAVE AN OBLIGATION TO CONDUCT BUSINESS WITHIN GUIDELINES THAT PROHIBIT ACTUAL OR POTENTIAL CONFLICTS OF INTEREST. THIS POLICY ESTABLISHES ONLY THE FRAMEWORK WITHIN WHICH THE MOUNT VERNON TRIANGLE CID PLANS TO OPERATE. THE PURPOSE OF THESE GUIDELINES IS TO PROVIDE GENERAL DIRECTION SO EMPLOYEES CAN SEEK FURTHER CLARIFICATION ON ISSUES RELATED TO THE SUBJECT OF ACCEPTABLE STANDARDS OF OPERATION. THE BASIC PRINCIPLE OF CONFLICT OF INTEREST IS THAT EMPLOYEES SHOULD AVOID ANY ACTIVITY, INVESTMENT, OR INTEREST THAT MIGHT REFLECT UNFAVORABLY UPON THE INTEGRITY OR GOOD NAME OF THE EMPLOYEE OR OF THE MOUNT VERNON TRIANGLE CID. |
| FORM 990, PART VI, SECTION B, LINE 15 | THE BOARD PRESIDENT MEETS WITH THE PRESIDENT & CEO WHEN COMPENSATION RECOMMENDATIONS HAVE BEEN APPROVED TO DISCUSS CHANGES IN COMPENSATION AND BENEFITS. |
| FORM 990, PART VI, SECTION C, LINE 19 | THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC ON THEIR WEBSITE WWW.MVTCID.ORG |
| FORM 990, PART XII, LINE 2C: | THE ORGANIZATION DID NOT CHANGE ITS OVERSIGHT OR SELECTION PROCESS DURING THE TAX YEAR. |
| FORM 990, PART VI, LINE 14: | ALTHOUGH THE ORGANIZATION DID NOT HAVE A WRITTEN DOCUMENT RETENTION AND DESTRUCTION POLICY IN EFFECT IN FY16, THE ORGANIZATION WILL HAVE ONE IN EFFECT BY SEPTEMBER 30, 2017. |
| FORM 990, PART XI, LINE 8: | THE PRIOR YEAR FINANCIAL STATEMENTS INCLUDED $122,776 OF ALLOWANCE FOR DOUBTFUL ASSESSMENTS RECEIVABLE AS OF SEPTEMBER 30, 2015. UNDER TERMS OF THE BUSINESS IMPROVEMENT DISTRICTS ACT OF 1996 (BID ACT) THE BID CORPORATION SHALL HAVE A LIEN ON ALL NONEXEMPT REAL PROPERTY WITHIN THE BID FOR UNPAID BID CHARGES LEVIED AGAINST THE OWNER OF THE PROPERTY IN ACCORDANCE WITH THE BID ACT. THEREFORE, ALTHOUGH THE OVERDUE TAX ASSESSMENTS MAY NOT BE CURRENTLY COLLECTIBLE THEY WILL BE COLLECTIBLE AT A FUTURE DATE. A PRIOR PERIOD ADJUSTMENT IN THE AMOUNT OF $122,776 HAS BEEN RECORDED AS OF SEPTEMBER 30, 2015, THE EFFECT OF WHICH IS TO REDUCE THE ALLOWANCE FOR DOUBTFUL ASSESSMENTS RECEIVABLE AND INCREASE UNRESTRICTED NET ASSETS AS IN THE AMOUNT OF $122,776. |
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