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 | MEMBERS ARE LICENSED FRANCHISED NEW MOTOR VEHICLE DEALERS. |
| FORM 990, PART VI, SECTION A, LINE 7A | MEMBERS ELECT THE BOARD OF TRUSTEES. |
| FORM 990, PART VI, SECTION A, LINE 7B | EACH MEMBER SHALL BE ENTITLED TO ONE VOTE AT ANY MEETING OF THE MEMBERS. AMENDMENTS TO BY-LAWS AND/OR THE CODE OF REGULATIONS MUST BE APPROVED BY MEMBERS. |
| FORM 990, PART VI, SECTION B, LINE 11B | THE FORM 990 IS PREPARED BY INDEPENDENT ACCOUNTANTS AND REVIEWED INTERNALLY. |
| FORM 990, PART VI, SECTION B, LINE 12C | THE ORGANIZATION MONITORS AND ENFORCES COMPLIANCE WITH ITS CONFLICT OF INTEREST POLICY ANNUALLY. |
| FORM 990, PART VI, SECTION B, LINE 15 | IN DETERMINING THE COMPENSATION OF THE ORGANIZATIONS'S CEO/EXECUTIVE DIRECTOR, THE ORGANIZATION USES A WRITTEN EMPLOYMENT CONTRACT APPROVED BY THE BOARD MEMBERS |
| FORM 990, PART VI, SECTION C, LINE 19 | THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE UPON REQUEST. |
| FORM 990, PART VIII, LINE 1E | ON FEBRUARY 4TH, 2021, THE ORGANIZATION QUALIFIED AND RECEIVED A LOAN PURSUANT TO THE PAYCHECK PROTECTION PROGRAM, A PROGRAM IMPLEMENTED BY THE U.S. SMALL BUSINESS ADMINISTRATION (SBA) UNDER THE CORONAVIRUS AID, RELIEF, AND ECONOMIC SECURITY ACT (CARES ACT), FROM NORTHWEST BANK, FOR AN AGGREGATE PRINCIPAL AMOUNT OF $354,410 (THE "PPP LOAN"). IN FEBRUARY 2022, FORGIVENESS WAS GRANTED BY THE SBA AND $354,410 WAS RECOGNIZED AS INCOME ON THE ACCOMPANYING STATEMENT OF ACTIVITIES. |
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