Attach to Form 990 or 990-EZ.
Go to www.irs.gov/Form990 for the latest information.
| Return Reference | Explanation |
|---|---|
| Form 990, Part VI, Line 5: Description of Material Diversion of Assets | IN 2019, THE ORGANIZATION DISCOVERED THAT A NOW FORMER EMPLOYEE HAD EMBEZZLED ITS FUNDS OVER A PERIOD OF TWENTY-THREE YEARS. THROUGH A FORENSIC INVESTIGATION, IT WAS DETERMINED THAT THE EMBEZZLEMENT AMOUNTED TO $1,200,000. FOLLOWING THE DISCOVERY, AND LATER THE SAME YEAR, THE ORGANIZATION REACHED A CONFIDENTIAL SETTLEMENT AGREEMENT WITH THE FORMER EMPLOYEE, PURSUANT TO WHICH THE EMBEZZLED FUNDS WERE REPAID IN FULL IN 2019. |
| Form 990, Part VI, Line 6: Explanation of Classes of Members or Shareholder | MEMBERSHIP CAN CONSIST OF ANY INSURANCE COMPANY LICENSED OR ADMITTED TO DO BUSINESS IN THE STATE OF MISSOURI, ANY INSURANCE TRADE ASSOCIATION HAVING AMONG ITS MEMBERSHIP INSURANCE COMPANIES LICENSED OR ADMITTED TO DO BUSINESS IN THE STATE OF MISSOURI, OR ANY INDIVIDUAL OR ENTITY WHOSE BUSINESS IS PRINCIPALLY RELATED TO THE BUSINESS OF INSURANCE. ALL MEMBERSHIP IS SUBJECT TO APPROVAL BY THE BOARD OF DIRECTORS. |
| Form 990, Part VI, Line 7a: How Members or Shareholders Elect Governing Body | THE GOVERNING BODY IS ELECTED BY THE ORGANIZATIONS MEMBERS AT AN ANNUAL MEETING OF MEMBERS. |
| Form 990, Part VI, Line 7b: Describe Decisions of Governing Body Approval by Members or Shareholders | THE DISSOLUTION OF THE ASSOCIATION AND BYLAW AMENDMENTS OR REPEALS ARE REQUIRED TO BE APPROVED BY A MAJORITY VOTE OF MEMBERS PRESENT AT ANY ANNUAL OR SPECIAL MEETING OF MEMBERS. |
| Form 990, Part VI, Line 11b: Form 990 Review Process | THE RETURN IS REVIEWED BY THE EXECUTIVE DIRECTOR AND THE EXECUTIVE COMMITTEE BEFORE FILING AND IS MADE AVAILABLE TO ALL BOARD MEMBERS FOR THEIR REVIEW. |
| Form 990, Part VI, Line 15a: Compensation Review & Approval Process - CEO, Top Management | THE MISSOURI INSURANCE COALITION EXECUTIVE COMMITTEE ANNUALLY REVIEWS STAFF BASED ON THEIR GOALS AND OBJECTIVES. THE EXECUTIVE COMMITTEE REVIEWS COMPENSATION SURVEYS FROM OTHER ORGANIZATIONS IN DETERIMINING SALARY INCREASES, ETC. THEIR RECOMMENDATION IS THEN TAKEN TO THE ENTIRE BOARD OF DIRECTORS FOR FINAL APPROVAL. |
| Form 990, Part VI, Line 19: Other Organization Documents Publicly Available | DOCUMENTS ARE AVAILABLE UPON REQUEST. |
| Software ID: | 19009920 |
| Software Version: | 2019v5.0 |