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 LINE 3 | THE MANAGEMENT COMPANY IS DELEGATED AUTHORITY FOR ONGOING MANAGEMENT DUTIES UNDER GUIDELINES ESTABLISHED BY THE BOARD OF DIRECTORS. |
| Form 990, Part VI, Section A, Line LINE 6 | THE ORGANIZATION HAS TWO CLASSES OF MEMBERS. A COMPANY WHOSE BUSINESS IS DIRECTLY RELATED TO THE HOME IMPROVEMENT INDUSTRY IS ELIGIBLE FOR FULL MEMBERSHIP, WITH THE RIGHT TO ELECT MEMBERS OF THE BOARD OF DIRECTORS AND TO VOTE ON DUES LEVELS. OTHER COMPANIES ARE ELIGIBLE FOR ASSOCIATE MEMBERSHIP, WITH NO VOTING RIGHTS. SEE NOTE TO PART VI, LINE 4, REGARDING ADDITIONAL MEMBER CLASS ADDED SUBSEQUENT TO YEAR-END. |
| Form 990, Part VI, Section A, Line LINE 7A | SEE RESPONSE FOR LINE 6 |
| Form 990, Part VI, Section B, Line 11B | THE RETURN IS REVIEWED BY THE MANAGING DIRECTOR PRIOR TO FILING. |
| Form 990, Part II, Section B, Line 12C | THE ORGANIZATION ANNUALLY OBTAINS STATEMENTS FROM EACH MEMBER OF THE BOARD OF DIRECTORS AFFIRMING COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY. |
| Form 990, Part VI, Section C, Line 19 | THE ORGANIZATION DOES NOT CURRENTLY MAKE ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY NOR FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC, EXCEPT TO THE EXTENT OF ANY GOVERNING DOCUMENTS INCLUDED WITH FORM 1024. HOWEVER, THESE DOCUMENTS ARE AVAILABLE TO ALL MEMBERS UPON REQUEST. |
| Form 990, Part VII, Section B, Line 1 | MANAGEMENT SERVICES COMPANY. THE MANAGEMENT COMPANY IS THE FARNSWORTH GROUP INC. ADDRESS IS 6640 INTECH BLVD, SUITE 100 INDIANAPOLIS, INDIANA 46278. SERVICES INCLUDE MANAGEMENT SERVICES AND OFFICE FACILITIES. FULL-TIME DEDICATED PERSONNEL INCLUDED PAM HEIDEL, MANAGING DIRECTOR AND MATTHEW CRAIG, RESEARCH DIRECTOR. MULTIPLE OTHER PERSONELL CONTRIBUTE ON A PART-TIME BASIS. OFFICE FACILITIES PROVIDED INCLUDE OFFICE SPACE, COMPUTERS, USE OF PRINTERS, COPYING MACHINES, STORAGE FACILITIES, TELEPHONE SERVICE, AND FAX MACHINE. |
| Form 990, Part I, Line 8 9 | IN CONJUNCTION WITH APPLYING FASB ASC 606, THE ORGANIZATION HAS DETERMINED THAT MEMBERSHIP DUES ARE MORE PROPERLY CONSIDERED PROGRAM REVENUE. THIS REPORTING CHANGE HAS BEEN ADOPTED FOR THE 2019 TAX YEAR. |
| Form 990, Part VI, Section A, Line 4 | THE BYLAWS WERE AMENDED IN 2020 TO CREATE ANOTHER MEMBERSHIP CATEGORY, OF AFFILIATE MEMBERS. |
| Form 990, Part XI, Line 8 | THE PRIOR PERIOD ADJUSTMENT RESULTED FROM ADOPTION OF FASB ASC 606. PRIOR TO THE CHANGE, MEMBERSHIP DUES WERE RECOGNIZED AS REVENUE WHEN PAID. DUES ARE NOW RECOGNIZED PROPORIONALLY OVER THE MEMBERSHIP TERM. THIS CHANGE RESULTED IN DEFERRAL OF A SUBSTANTIAL PORTION OF DUES REVENUE. |
| Software ID: | 19009610 |
| Software Version: | 19.2.1.0 |