Attach to Form 990 or 990-EZ.
Go to www.irs.gov/Form990 for the latest information.
| Return Reference | Explanation |
|---|---|
| Unrelated business income explanation Part V line 3b | WE HAVE RECEIVED A FAVORABLE CLOSING STATEMENT FROM THE INTERNAL REVENUE SERVICES IN REGARDS TO INCOME THAT IS BEING SET ASIDE FOR EDUCATIONAL PURPOSES IN THE ORGANIZATIONS BUILDING FUND.1. THE NEW BUILDING WILL COST AN ESTIMATED $2-3 MILLION.2. THE CURRENT SET ASIDE BUILDING FUND BALANCE IS APPROXIMATELY $546,3623. THE DOWN PAYMENT REQUIRED WILL BE WELL OVER $500,000.4. THE ORGANIZATION IS HOPEFUL THAT ANNUAL SET ASIDE SAVINGS WILL BE ABOUT $50,000 (OF THISAMOUNT APPROXIMATELY $10,000 WILL BE DERIVED FROM INVESTMENT EARNINGS WITHIN THE BUILDING FUND)5. THE ORGANIZATION IS WORKING DILIGENTLY IN BUILDING THE SET ASIDES TO REACH THE REQUIRED DOWNPAYMENT AMOUNT.6. ALL SET ASIDE FUNDS WILL GO INTO THE NEW BUILDING. |
| Members or stockholder classes and rights Part VI line 6 | CORPORATION HAS BOARD MEMBERS ELECTED BY GRADUATED MEMBERS OF FRATERNITY. |
| Member election for additional members Part VI line 7a | THE CORPORATION AVC BOARD MEMBERS ARE ELECTED BY GRADUATED MEMBERS OF FRATERNITY. |
| Governing body decisions Part VI line 7b | THE CORPORATIONS AVC BOARD MAKES GOVERNING BODY DECISIONS. |
| Form 990 governing body review Part VI line 11 | REVIEW WAS CONDUCTED |
| Form 990 availability to public Part VI line 18 | NO DOCUMENTS MADE AVAILABLE TO THE PUBLIC |
| Governing documents etc available to public Part VI line 19 | DOCUMENTS AVAILABLE TO AVC BOARD |
| Explanation of other changes in net assets or fund balances Part XI line 9 | INCREASE DECREASE IN BUILDING SET ASIDE FUND BALANCE |
| List of other fees for services expenses Part IX line 11g | SEPARATE DETAIL STATEMENT ATTACHED |
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