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 6 | ABC is a membership based organization where all membership investments are voluntary. The only persons that are required to join are those that are utilizing our Apprenticeship program through the training trust. |
| Form 990, Part VI, Section B, Line 11b | It is taken to the Executive Committee for review then to the Board for approval. |
| Form 990, Part VI, Section B, Line 12c | Each year with the new board of directors the policies and procedures including the conflict of interest policy is reviewed. |
| Form 990, Part VI, Section B, Line 15a | Compensation is reviewed and approved by the board of directors. |
| Form 990, Part VI, Section B, Line 15b | Compensation is reviewed and approved by the board of directors. |
| Form 990, Part VI, Section C, Line 19 | Documents are made available to the public upon request. |
| Patr XI, Line 8, Prior Period Adjustment | Change in Accounting Principle:In 2022, Organization adopted FASB Accounting Standards Update (ASU) No. 2016-02, Leases, which established standards of accounting and financial reporting for leases by lessees and lessors, The new standard requires lessees to recognize right-of-use assets and related lease liabilities for leases classified as operating and finance on the balance sheet for all arrangements, and lessors to recognize net investment in leases on the balance sheet for all arrangements classified as nonoperating.As a result of adopting this new accounting standard, the change has applied to the earliest period presented using a modified retrospective approach. Previously Reported 2021 2021 Balances as Effect of Balances Adjusted Change Statement of Financial Position:Operating right-of-use assets $ - 218,692 218,692Operating lease liabilities $ - (222,059) (222,059)Deferred revenue $ 12,378 (2,363) 10,015Statement of Activities:Office expense $ 80,511 (21,030) 59,481Operating lease expense $ - (61,179) (61,179)Net assets, beginning of year $ 224,979 233,325 8,346Net assets, end of year $ 198,490 205,138 6,648 |
| Software ID: | 22015553 |
| Software Version: | 2022v5.0 |