Attach to Form 990 or 990-EZ.
Go to www.irs.gov/Form990 for the latest information.
| Return Reference | Explanation |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 6 | THE ORGANIZATION HAS MEMBERS WHO PAY DUES. |
| FORM 990, PART VI, SECTION A, LINE 7A | THE CHAIR CAN APPOINT TWO MEMBERS OF THE BOARD. |
| FORM 990, PART VI, SECTION B, LINE 11B | THE BOARD'S FINANCE COMMITTEE WILL REVIEW THE FORM 990 BEFORE IT IS FINALIZED. |
| FORM 990, PART VI, SECTION B, LINE 12C | THE EXECUTIVE GENERALLY MONITORS CONFLICTS OF INTEREST ON A SEMI-ANNUAL BASIS BUT CONSIDERS THESE MATTERS IN ALL GOVERNING DECISIONS. |
| FORM 990, PART VI, SECTION B, LINE 15A | COMPENSATION PROCESS INVOLVES FINANCE COMMITTEE REVIEW AND RECOMMENDATIONS, EXECUTIVE COMMITTEE REVIEW AND APPROVAL TO FULL BOARD FOR APPROVAL. IT INCLUDES A 990 STUDY AND A REVIEW OF SIMILAR ORGANIZATIONS IN THE ORGANIZATION'S GEOGRAPHICAL AREA OF SIMILAR SIZE AND RESPONSIBILITY. |
| FORM 990, PART VI, SECTION C, LINE 19 | THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST AT THE CHAMBER'S OFFICES. |
| FORM 990, PART XII, LINE 1: | THE ORGANIZATION USES THE MODIFIED CASH BASIS OF ACCOUNTING, WHICH IS A COMPREHENSIVE BASIS OF ACCOUNTING OTHER THAN ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA. UNDER THE MODIFIED CASH BASIS OF ACCOUNTING, MEMBERSHIP DUES REVENUE AND THE RELATED ASSETS ARE RECOGNIZED WHEN RECEIVED RATHER THAN EARNED. ACCORDINGLY, THE ORGANIZATION HAS NOT RECOGNIZED ACCOUNTS RECEIVABLE AND DEFERRED REVENUE RELATING TO MEMBERSHIP DUES AND THEIR RELATED EFFECTS ON CHANGES IN NET ASSETS IN THE CONSOLIDATED FINANCIAL STATEMENTS. |
| FORM 990, PART XII, LINE 2C: | THE FINANCE COMMITTEE ASSUMES RESPONSIBILITY FOR THE OVERSIGHT OF THE AUDIT OF THE FINANCIAL STATEMENTS AND THE SELECTION OF AN INDEPENDENT AUDITOR. THE PROCESS HAS NOT CHANGED SINCE THE PRIOR YEAR. |
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