Attach to Form 990 or 990-EZ.
Go to www.irs.gov/Form990 for the latest information.
| Return Reference | Explanation |
|---|---|
| Pt VI, Line 11b | Completed Form 990 is reviewed by the Treasurer at the Board meeting immediately following completion of the form and before the form is filed. |
| Pt VI, Line 19 | All governing documents are filed with Moorestown Township and are available upon request. All financial transactions are logged in QuickBooks by the Club treasurer and are available upon request. There is an informal conflict of interest policy. The Board vets and votes on discussions during meetings and has legal experience on the Board. |
| Pt X | Loans payable is the balance of th $100,000 capital improvement loan from TD Bank. Loan is 60 months |
| Pt X | Liabilities are bonds to be refunded to departing members. We maintain a list of bonds to be paid and do so as new members join and buy the departing bonds. |
| Pt XI | COVID led to a 30% decline in membership and a loss of approximately $62,000 YOY. |
| Pt XI | Increase in NJ minimum wage cost us approximately $15,250 more than 2019 |
| Pt XI | Reduced participation in swim & dive team led to a loss of approximately $7,000 in Club income. This was a direct impact of COVID |
| Pt VI, Line 8b | Committees generally do not have authority to act on behalf of the Board |
| Other | A "paper" Form 990 was submitted on 3/15/21, and received by the IRS on 3/23/21. However the return was rejected by the IRS and returned to the taxpayer because "paper" returns are no longer acceptable. This was communicated by the IRS in their 9/13/21 letter referenced 0422614611. Please note that this is for tax period 2020, and not 2021 as noted in the IRS letter. |
| Software ID: | 20011577 |
| Software Version: |