Attach to Form 990 or 990-EZ.
Go to www.irs.gov/Form990 for the latest information.
| Return Reference | Explanation |
|---|---|
| FORM 990, | PART III, LINE 3: ON DECEMBER 20, 2018, THE EXECUTIVE COMMITTEE OF SPECIAL FUNDS CONSERVATION COMMITTEE (THE "COMMITTEE") VOTED TO ADOPT THE PLAN OF DISSOLUTION, DATED DECEMBER 20, 2018 FOR WINDING DOWN AND DISSOLVING THE COMMITTEE (THE "PLAN"). ACCORDINGLY, THE COMMITTEE CEASED TO CARRY OUT ITS HISTORICAL BUSINESS AND AFFAIRS ON DECEMBER 31, 2018, AND SINCE SUCH DATE HAS ONLY ENGAGED, AND WILL CONTINUE FROM AND AFTER THE DATE OF THIS PLAN TO ON ENGAGE IN ACTIVITIES AND BUSINESS APPURTENANT TO ITS WIND-DOWN AS CONTEMPLATED BY THIS PLAN (THE "WIND-DOWN"). THE COMMITTEE HAS ADOPTED THE LIQUIDATION BASIS OF ACCOUNTING AS OF DECEMBER 20, 2018. AS OF DECEMBER 31, 2018 THE DISTRIBUTION OF ASSETS AND LIABILITIES HAD NOT YET COMMENCED BUT WILL DO SO DURING THE WIND-DOWN PROCESS. THE COMMITTEE HAS RETAINED GRANT THORNTON LLP AS THE FINANCIAL ADVISOR TO ACT AS INTERIM CHIEF OPERATING OFFICER AND TRUSTEE OF THE COMMITTEE IN AN EFFORT TO MANAGE THE WIND-DOWN PROCESS. THE COMMITTEE HAS TRANSFERRED ITS CLAIMS MANAGEMENT RESPONSIBILITIES TO THIRD-PARTY ADMINISTRATORS. THE COMMITTEE HAS RETAINED CERTAIN FORMER EMPLOYEES AS CONTRACTORS TO MANAGE THE ACCOUNTING RECORDS AND ASSIST WITH THE WIND-DOWN PROCESS. THE COMMITTEE HAS RETAINED CERTAIN CONTRACTORS TO MANAGE AND RETAIN CLAIMS AND NON-CLAIMS DATA. THE COMMITTEE HAS ALSO RETAINED CERTAIN ATTORNEYS AND ACTUARIES TO FACILITATE THE WIND-DOWN PROCESS. THE EXPECTED DATE OF DISSOLUTION IS DECEMBER 31, 2025. PART IV, LINES 11F, 12A & PART XII, LINE 2B: AS OF THE DATE OF FILING THIS FEDERAL FORM 990, THE COMMITTEE'S AUDIT FOR 2018 WAS NOT YET COMPLETED AND ACCORDINGLY THERE ARE NO AUDITED FINANCIAL STATEMENTS PERTAINING TO THE CURRENT YEAR. PART V, LINES 3A & 3B: DUE TO THE TAX CUTS AND JOBS ACT, THE COMMITTEE WAS SUBJECT TO UNRELATED BUSINESS INCOME TAX ON THE DISALLOWED TRANSPORTATION AND QUALIFIED PARKING FRINGE BENEFITS AND ACCORDINGLY FILED THE FORM 990-T. PART VI, LINE 3: In conjuction with the Liquidation, THE COMMITTEE HAS retained Grant Thornton LLP as the financial advisor to act as Interim COO and trustee of the COMMITTEE, in an effort to manage the Liquidation process. Further, the Interim COO is not a paid employee of the Committee (See Part VII). PART VI, LINE 4: ON DECEMBER 20, 2018, THE EXECUTIVE COMMITTEE OF SPECIAL FUNDS CONSERVATION COMMITTEE (THE "COMMITTEE") VOTED TO ADOPT THE PLAN OF DISSOLUTION, DATED DECEMBER 20, 2018 FOR WINDING DOWN AND DISSOLVING THE COMMITTEE (THE "PLAN"). ACCORDINGLY, THE COMMITTEE CEASED TO CARRY OUT ITS HISTORICAL BUSINESS AND AFFAIRS ON DECEMBER 31, 2018, AND SINCE SUCH DATE HAS ONLY ENGAGED, AND WILL CONTINUE FROM AND AFTER THE DATE OF THIS PLAN TO ON ENGAGE IN ACTIVITIES AND BUSINESS APPURTENANT TO ITS WIND-DOWN AS CONTEMPLATED BY THIS PLAN (THE "WIND-DOWN"). THE COMMITTEE HAS ADOPTED THE LIQUIDATION BASIS OF ACCOUNTING AS OF DECEMBER 20, 2018. AS OF DECEMBER 31, 2018 THE DISTRIBUTION OF ASSETS AND LIABILITIES HAD NOT YET COMMENCED BUT WILL DO SO DURING THE WIND-DOWN PROCESS. THE COMMITTEE HAS RETAINED GRANT THORNTON LLP AS THE FINANCIAL ADVISOR TO ACT AS INTERIM CHIEF OPERATING OFFICER AND TRUSTEE OF THE COMMITTEE IN AN EFFORT TO MANAGE THE WIND-DOWN PROCESS. THE COMMITTEE HAS TRANSFERRED ITS CLAIMS MANAGEMENT RESPONSIBILITIES TO THIRD-PARTY ADMINISTRATORS. THE COMMITTEE HAS RETAINED CERTAIN FORMER EMPLOYEES AS CONTRACTORS TO MANAGE THE ACCOUNTING RECORDS AND ASSIST WITH THE WIND-DOWN PROCESS. THE COMMITTEE HAS RETAINED CERTAIN CONTRACTORS TO MANAGE AND RETAIN CLAIMS AND NON-CLAIMS DATA. THE COMMITTEE HAS ALSO RETAINED CERTAIN ATTORNEYS AND ACTUARIES TO FACILITATE THE WIND-DOWN PROCESS. PART VI, SECTION A, LINES 6, 7A & 7B: THE SIX VOTING MEMBER POSITIONS OF THE COMMITTEE ARE HELD BY REPRESENTATIVES OF ORGANIZATIONS. REPRESENTATIVES ARE FROM THE NEW YORK STATE INSURANCE FUND, THE NEW YORK COMPENSATION RATING BOARD, THE STOCK INSURANCE CARRIERS, THE MUTUAL INSURANCE CARRIERS, AND VARIOUS SELF INSURERS. THE REPRESENTATIVES ARE SELECTED BY THE COMMMITEE. THE BUDGET WAS APPROVED BY THE EXECUTIVE COMMITTEE, THE NEW YORK STATE WORKERS COMPENSATION BOARD (PER A MEMORANDUM OF UNDERSTANDING) AND THE NEW YORK COMPENSATION INSURANCE RATING BOARD. PART VI, SECTION B, LINE 11B: AFTER THE INTERIM COO AND MANAGEMENT HAVE REVIEWED AND APPROVED THE FORM 990, A COPY IS PROVIDED TO ALL MEMBERS OF THE BOARD FOR THEIR REVIEW AND APPROVAL PRIOR TO ITS SUBMISSION. PART VI, SECTION B, LINE 12C: EVERY JANUARY A LETTER IS SENT OUT REGARDING THE CONFLICTS OF INTEREST POLICY TO ALL STAFF AND EACH BOARD MEMBER. THE LETTER MUST BE SIGNED AND RETURNED. PART VI, SECTION B, LINE 15: THE CEO'S SALARY IS APPROVED BY THE EXECUTIVE COMMITTEE. THE CHIEF OPERATING OFFICER'S SALARY IS APPROVED BY THE CEO. ALL OTHER POSITIONS ARE REVIEWED AND APPROVED BY THE CEO. PART VI, SECTION C, LINE 19: GOVERNING DOCUMENTS ARE DISTRIBUTED TO MEMBERS WHO MUST PROVIDE WRITTEN ACKNOWLEDGEMENT OF RECEIPT. POLICIES AND FINANCIAL INFORMATION ARE AVAILABLE UPON REQUEST. |
| FORM 8868 | APPLICATION FOR AN EXTENSION OF TIME TO FILE AN EXEMPT ORGANIZATION RETURN WAS FILED ELECTRONICALLY. |
| FORM 990 PART IX LINE 11G | DESCRIPTION:CONSULTING TOTAL FEES:5342683 |
| FORM 990 PART IX LINE 11G | DESCRIPTION:OTHER PROFESSIONAL FEES TOTAL FEES:46577 |
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