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 3 | PHARMACY AGENT CORPORATION DELEGATED CONTROL OVER MANAGEMENT DUTIES TO THE MISSOURI PHARMACEUTICAL ASSOCIATION, A 501(C)(6) ENTITY, PER A SERVICES AGREEMENT ENTERED INTO ON AUGUST 1, 2008. |
| FORM 990, PART VI, SECTION B, LINE 11B | BOARD MEMBERS ARE EMAILED COPIES AND WILL DISCUSS ANY AND ALL QUESTIONS RELATED TO THE FORM 990. THIS POLICY WAS ADOPTED 10/22/2009. |
| FORM 990, PART VI, SECTION B, LINE 12C | BOARD MEMBERS EXPRESS ANY CONFLICT TO THE BOARD OF DIRECTORS AND IF A CONFLICT EXISTS, THE BOARD MEMBER INVOLVED WILL ABSTAIN FROM VOTING. |
| FORM 990, PART VI, SECTION C, LINE 19 | THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. |
| FORM 990, PART IX, LINE 11G | CONTRACTED SERVICES: PROGRAM SERVICE EXPENSES 80,803. MANAGEMENT AND GENERAL EXPENSES 8,978. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 89,781. |
| FORM 990, PART XII, LINE 2C: | THERE HAS BEEN NO CHANGE IN THE OVERSIGHT PROCESS OR SELECTION PROCESS FROM THE PREVIOUS YEAR. |
| FORM 990, PART IV, LINE 28: | PHARMACY AGENT CORPORATION (PAC) ACTS AS AN AGENT TO THE PARTICIPATING PHARMACIES ACROSS THE STATE OF MISSOURI. IN DOING SO, PAC HELPS TO REDUCE THE POTENTIAL FOR A PHARMACY TO BE UNABLE TO RECOVER BENEFITS FROM THEIR TAX EQUAL TO OR GREATER THAN THEIR TAX. THE PAC PAYS THE PHARMACY'S TAX, THUS REDUCING THE CASH FLOW REQUIREMENTS FOR THE PHARMACY. THE PAC BALANCES THE OVERALL TAX LIABILITY OVER ALL PROVIDERS, REDUCES THE POTENTIAL FOR LOSSES, AND PROVIDES A LIMITED RETURN TO THE PHARMACIES FOR PARTICIPATING IN THE PROGRAM. MEMBERS OF THE BOARD MAY OWN OR HAVE OWNERSHIP INTERESTS IN BUSINESSES WHICH RECEIVE THE PROGRAM PAYMENTS. THESE PAYMENTS ARE A PART OF THE EXEMPT PURPOSE OF PHARMACY AGENT CORPORATION AND DO NOT DIFFER FROM PAYMENTS MADE TO ANY OTHER PHARMACIES RECEIVING PROGRAM PAYMENTS. |
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