Attach to Form 990 or 990-EZ.
Go to www.irs.gov/Form990 for the latest information.
| Return Reference | Explanation |
|---|---|
| FORM 990, PART I, LINE 1 | TO CREATE AND MAINTAIN COMMUNITY FORUM FOR BUSINESS AND TO PROMOTE, AND ASSIST LOCAL GROWTH AND DEVELOPMENT FOR THE BENEFIT OF OUR COMMUNITY. |
| FORM 990, PART III, LINE 1 | OUR PURPOSE IS TO STRIVE TO PROVIDE LEADERSHIP, VISION AND BETTER QUALITY OF LIFE IN HOLMES COUNTY; TO PROMOTE AND IMPROVE OPPORTUNITIES FOR EXISTING AND NEW ECONOMIC ENDEAVORS; TO MAINTAIN OUR SENSE OF IDENTITY AS A COMMUNITY; AND TO STRIVE TO PROVIDE PLACES FOR INDIVIDUALS TO WORK, LIVE, SHOP, AND VISIT. |
| FORM 990, PART VI, SECTION A, LINE 1A | THE PRESIDENT OF THE GOVERNING BODY IS NOT GIVEN THE SAME VOTING PRIVILEGES AS THE OTHER VOTING BOARD MEMBERS. THE PRESIDENT IS ONLY PERMITED TO VOTE IN CASE OF A TIE. |
| FORM 990, PART VI, SECTION A, LINE 6 | THE ORGANIZATION PERMITS ALL LOCAL FIRMS, INDIVIDUALS, ASSOCIATIONS, CORPORATIONS, PARNERSHIPS, ESTATES, AGENCIES, OR OTHER ENTITIES INTERESTED IN THE OBJECTIVES STATED IN THE HOLMES COUNTY CHAMBER OF COMMERCE'S ARTICLES TO BE ELIGIBLE FOR MEMBERSHIP. THOSE WHO ELECT TO JOIN PAY A PRE-DETERMINED FEE AND RECEIVE BENEFIT SERVICES IN RETURN FOR THOSE FEES PAID. |
| FORM 990, PART VI, SECTION A, LINE 7A | THE ORGANIZATION'S PRESIDENT APPOINTS A MINIMAL OF TWO MEMBERS AS THE NOMINATING COMMITTEE. THAT COMMITTEE HAS THE DUTY OF NOMINATING CANDIDATES FOR THE BOARD OF DIRECTORS, (GOVERNING BODY). THE LIST OF NOMINEES IS FILED WITH THE RECORDER. MEMBERS MAY ALSO MAKE NOMINATIONS ON THEIR OWN AT THE ANNUAL MEETING. A LIST OF NOMINEES IS SENT TO ALL MEMBERS IN GOOD STANDING BY THE RECORDER. THESE MEMBERS CAST THEIR BALLOTS AND ELECT THE GOVERNING BODY IN THIS MANNER. |
| FORM 990, PART VI, SECTION B, LINE 11B | THE ORGANIZATION SUBMITS FINANCIAL INFORMATION TO THE SELECTED ACCOUNTING FIRM. THE FIRM COMPILES THE INFORMATION FOR FINANCIAL STATEMENTS AND ALSO PREPARES A TAX-EXEMPT RETURN. A COPY OF THE RETURN IS GIVEN TO THE TREASURER FOR REVIEW AND APPROVAL. BEFORE IT IS FINALIZED AND FILED WITH IRS, THE FINANCE COMMITTEE REVIEWS THE DRAFT 990. |
| FORM 990, PART VI, SECTION B, LINE 15A | WHEN DETERMINING THE COMPENSATION OF AN OFFICER OR TOP OFFICIAL, THE PRESIDENT AND PAST PRESIDENT USE COMPARABILITY DATA TO DETERMINE A REASONABLE COMPENSATION PACKAGE. |
| FORM 990, PART VI, SECTION C, LINE 19 | THE ORGANIZATION MAKES ITS MOST RECENT TAX RETURN AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC BY REQUEST. |
| FORM 990, PART XII, LINE 2C: | THE ORGANIZATION HAS A FINANCE COMMITTEE THAT NOW TAKES RESPONSIBILITY FOR OVERSIGHT OF THE COMPILATION, SELECTION OF THE ACCOUNTING FIRM, AND REVIEW OF FORM 990. THIS HAS NOT CHANGED SINCE THE PRIOR RETURN WAS FILED. |
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