| Return Reference | Explanation |
|---|---|
| Form 990, Header, Line A | The YPO Gold Euro Chapter is a separate corporation from the Young President's Organization Inc. (12-1770417) but is included in its 501c6 blanket exemption number 7096. In April 2017, the Chapter was incorporated in Pennsylvania after previously having been domiciled in Sweden. Most of the Chapter members are European and most of the Chapter events are held in Europe. The Chapter accounts are primarily denominated in Euros since Program Service Fees and Event Fees are collected in the form of Euros. Euro funds are either deposited at the Wise Europe SA Bank in Brussels, Belgium or converted to USD and deposited at PNC Bank NA in Pittsburgh. At year end, all accounts are revalued in USD as per IRS regulation which results in currency gains or losses which are reflected in the Profit and Loss Statement. |
| Form 990, Part V, Line 4a | Since most of the Chapter members and events are in Europe, a Euro account is maintained with Wise, an internet wire transfer platform with its associated commercial bank located in Brussels, Belgium. |
| Form 990, Part V, Line 6b | There are no solicitations of contributions. All revenue is either Program Service Fees or Event Fees. |
| Form 990, Part VI, Section A, Line 8b | There are no committees with authority to act on behalf of the governing body. All decisions are made and directed by the Board. Minutes of each Board meeting are written up and distributed to the Board and any other interested party. |
| Form 990, Part VI, Section B, Line 11b | A draft of Form 990 and required schedules are prepared and reviewed by the Treasurer of the Chapter. Upon completion of this review, a complete copy of Form 990 and related Schedules is provided to each member of teh Board in advance of filing with the Internal Revenue Service. |
| Form 990, Part VI, Section B, Line 12c | At the end of every fiscal (calendar) year, when the new Board s constituted, a questionnaire is provided to each Board member which must be completed to identify any conflicts with the organization. If a conflict is noted, the individual Board member shall not vote or use his / her personal influence on the matter which gives rise to the conflict. |
| Form 990, Part VI, Section C, Line 18 | The Chapter makes its governance documents, financial statements, and conflict of interest policy available to the public upon request. It is also available on the Internal Revenue Service website. |
| Form 990, Part VI, Section C, Line 19 | The Chapter makes its governance documents, financial statements, and conflict of interest policy available o the public upon request. It is also available on the Internal Revenue Service website. |
| Form 990, Part IX, Line 11a | A part time Chapter administrator, living in Berlin, Germany, provides services to the Chapter on a contract basis. Due to a maternity leave, an additional part time administrator living in Amsterdam, Netherlands was a temporary replacement in 2023. |
| Form 990, Part IX, Line 24a - 24d | Since the Chapter invoices event participants approximately one year in advance, the fees collected are not recorded as income but rather are recognized as deferred revenue. A corresponding deferred program expense is recorded. Depending upon the balance at the end of the year, this amount is adjusted to actual at the end of the fiscal year and offset by any prepaid future program expenses. Members are permitted to cancel attendance and request fee refunds in varying amounts depending upon the closeness to the date of the event. This can create negative program fee amounts per event, within a fiscal year. |
| Form 990, Part X, Line 19 | Deferred revenue is generated when Event Fees and Program Service Fees are collected in years prior to the date of the event or activity. It is customary for the Chapter to invoice attending members 12 to 15 months prior to the event. |
| Form 990, Part XI, Line 9 | There were no significant changes in net assets or fund balances in 2023. The effect of the change in the Euro to USD exchange rate is indicated in Part IX, Line 24. |
| Software ID: | 23018249 |
| Software Version: | v1.00 |