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 | ANY PERSON OVER 18 YEARS OF AGE, OF GOOD MORAL AND BUSINESS CHARACTER SHALL BE ELIGIBLE TO HOLD INDIVIDUAL MEMBERSHIP IN THE GREATER TOPEKA PARTNERSHIP, SUBJECT TO THE CONSENT OF THE CHAIR'S COUNCIL AND THE PROVISIONS SET FORTH IN THE BYLAWS; AND ANY FIRM , PARTNERSHIP, CORPORATION OR OTHER BUSINESS OR PROFESSIONAL ENTITY WHICH COMPLIES WITH THE PROVISIONS OF THE ARTICLES SET FORTH IN THE BYLAWS SHALL BE ELIGIBLE TO HOLD MEMBERSHIP. |
| FORM 990, PART VI, SECTION B, LINE 11B | THE 990 IS MADE AVAILABLE TO THE FULL BOARD FOR REVIEW PRIOR TO FILING. THE 990 WAS PREPARED BY AN OUTSIDE CPA FIRM. |
| FORM 990, PART VI, SECTION B, LINE 12C | DURING ORIENTATION THE OFFICER/DIRECTOR/KEY EMPLOYEE IS REQUIRED TO REVIEW & SIGN AN AGREEMENT WHICH REQUIRES NOTIFICATION OF CONFLICTS. THE CONFLICT OF INTEREST POLICY IS REQUIRED TO BE SIGNED ANNUALLY. BOARD MEMBERS ARE ALSO REQUIRED TO NOTIFY ANY CONFLICTS AS THEY OCCUR IF AFTER THE CONFLICT OF INTEREST POLICY IS SIGNED. |
| FORM 990, PART VI, SECTION B, LINE 15 | COMPENSATION FOR THE OFFICER IS DETERMINED BY AN ANNUAL PERFORMANCE REVIEW AS WELL AS COMPARISON OF INDUSTRY DATA FROM THE NATIONAL PROFESSIONAL ASSOCIATION SHOWING SALARY INFORMATION FOR COMPARABLE POSITIONS BY REGION. THE COMPENSATION IS APPROVED BY THE DIRECTORS. |
| FORM 990, PART VI, SECTION C, LINE 19 | FINANCIAL STATEMENTS ARE PROVIDED BY REQUEST OF THE FORM 990. THE GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE NOT AVAILABLE TO THE PUBLIC. |
| FORM 990, PART XI, LINE 9: | REVENUE RECOGNITION IMPLEMENTATION -284,796. |
| FORM 990, PART XI, LINE'S 8 & 9 | TWO ADJUSTMENTS WERE MADE TO BEGINNING NET ASSETS: - A PRIOR PERIOD ADJUSTMENT OF 8,188 WAS MADE TO UNRESTRICTED ASSETS TO CORRECT AN OVERSTATEMENT OF PAYROLL EXPENSES IN 2018. - AN ADJUSTMENT OF -284,796 WAS MADE TO UNRESTRICTED ASSETS TO IMPLEMENT THE NEW FASB ACCOUNTING STANDARDS CODIFICATION TOPIC 606: REVENUE FROM CONTRACTS WITH CUSTOMERS. THE ADJUSTMENT RELATES PRIMARILY TO MEMBERSHIP REVENUE, WHICH IS NOW DEEMED ALMOST EXCLUSIVELY AN EXCHANGE TRANSACTION THAT IS RECOGNIZED OVER THE MEMBERSHIP PERIOD RATHER THAN UPON RECEIPT OF MEMBERSHIP DUES AS PRIMARILY A CONTRIBUTION. |
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