TIN:
SCHEDULE O
(Form 990 or 990-EZ)
Department of the Treasury
Internal Revenue Service
(Form 990 or 990-EZ)
Department of the Treasury
Internal Revenue Service
Supplemental Information to Form 990 or 990-EZ
Complete to provide information for responses to specific questions on
Form 990 or 990-EZ or to provide any additional information.
Attach to Form 990 or 990-EZ.
Go to www.irs.gov/Form990 for the latest information.
OMB No. 1545-0047
2019
Open to Public
Inspection
Inspection
Name of the organization
SMITH & WESSON COLLECTORS ASSOCIATION
INC
INC
Employer identification number
43-1388239
43-1388239
| Return Reference | Explanation |
|---|---|
| Other Expenses.1002 | Office Expenses $1008 |
| Other Expenses.1012 | Insurance $1255 |
| Other Expenses.3 | 677 Fed Income Tax (Form 990T) $1667 |
| Other Expenses.4 | 641 Information Tech (Website) $189 |
| Other Expenses.5 | 409 Refund-2019 Symposium Fee $45 |
| Other Expenses.6 | 676 KS Corp Annual Report $40 |
| Other Assets.1011 | Prepaid Expenses and Deferred Charges - Beginning $3779 Prepaid Expenses and Deferred Charges - Ending $10325 |
| Activities Not Previously Reported to the IRS | In July, 2020, as part of the its fund raising activities, the organization began conducting a weekly "single item" on-line auction through its "members only" internet Forum of collectable, non-cash items donated by Association members for the benefit of the Association. During its FYE November 30, 2020, the organization received gross revenues of $6,680 which netted $6,680 since there were no expenses associated with the conduct of this activity. |
| Form 990, Part XII, Line 1 / Form 990EZ, G - Other Accounting Method: | The Smith & Wesson Collectors Association (Association) prepares its annual financial statements and, where applicable, its Form 990/990EZ, using a "modified accrual" method of accounting; the Association defers fees received and expenses paid for its Annual Symposiums (Annual Meetings) (see Form 990, Part III, Line 4b or Form 990EZ, Part III, Line 29) to the actual fiscal year of the Symposium if those fees and expenses are received or paid in a different fiscal year. All other items of income and expenses not related to the Symposium are reported on the "cash" basis method of accounting. During its FYE November 30, 2020, the organization received no income from its Annual Symposium because the 2020 event was cancelled due to COVID-19 restrictions at the scheduled time and place of the event. However, some of the expenses for its 2020 event (herein recorded) were unique to 2020 and, therefore, could not be accrued or deferred to subsequent events and were, therefore, properly recorded during the FYE November 30, 2020, and reported on this tax return. |
| Form 990, Part III, Line 4b / Form 990EZ, Part III, Line 29 | During its FYE November 30, 2020, the organization neither received nor accrued income from its Annual Symposium because the 2020 event was cancelled due to COVID-19 restrictions at the scheduled time and place of the event. However, some expenses were incurred during the FYE November, 2020, for this event (herein recorded) and as they were unique to the current fiscal year could not be accrued or deferred to subsequent events and were, therefore, properly recorded during the FYE November 30, 2020, and reported on this tax return. Once the COVID-19 situation is resolved, this function of the organization will continue as before. |
| Form 990, Part III, Line 4c / Form 990EZ, Part III, Line 30 | During its FYE November 30, 2020, the organization was unable to provide educational displays by organization members at National collectors events normally held annually at various locations throughout the United States due to COVID-19 restrictions at the scheduled time and place of such events. No income or expenses from this function were incurred during the current fiscal year. Once the COVID-19 situation is resolved, this function of the organization will continue as before. |
For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.
Cat. No. 51056K
Schedule O (Form 990 or 990-EZ) 2019
Additional Data
| Software ID: | 19009920 |
| Software Version: | 2019v5.0 |