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 11b: Form 990 Review Process | Financials are prepared monthly and reviewed monthly with the 12th month and fiscal year operations and position statements serving as the basis for the tax returns. The financials are reviewed by the Treasurer, President and Board by the Board meeting of the following month.The tax return is available for Board review by the close of January typically, well in advance of the May 15 deadline. In the event of a question outstanding with the IRS, the tax return may be closed by February, depending on the speed of IRS answer. |
| Form 990, Part VI, Line 19: Other Organization Documents Publicly Available | No documents available to the public. |
| Other Changes In Net Assets Or Fund Balances - Other Increases | = $652 |
| Noteworthy Matters | Dues are accounted for by the fiscal cycle to which they apply so the tax return revenue for dues agrees with internal books of the club. Leasehold improvements are depreciated over 39 years, straight line and other equipment and furnishings are generally 5 to 7 years using double declining or straight line. All other income and expense is essentially cash basis and the impact of accruing or not would be relatively immaterial to results and too expensive to track. Bills are typically paid promptly.Unrealized gains and losses are carried on the balance sheet in equity until realized.During 2019, the Club Directors and membership purchased a building in which to house their activities and were effectively moved into new quarters by November 30, 2019, having the Christmas function in the new quarters. There are still some additional expenditures which will be required to complete the build out, nevertheless. Financing was completed in 2019 and funds were raised additionally to allow for renovation. |
| Software ID: | 20011551 |
| Software Version: | 2020v4.0 |