| Return Reference | Explanation |
|---|---|
| FORM 990, PART III, LINE 3 | AFTER THE BENEFIT OF TAX CREDITS WERE REALIZED, THE LOANS THAT SUPPORTED CONSTRUCTION OF THE ACCELERATOR BUILDING WERE FORGIVEN AND THE ASSETS WERE TRANSFERRED TO SEVENTY-FIVE NORTH REVITALIZATION CORPORATION, A RELATED PARTY, TO CONTINUE THE PROGRAM OPERATIONS. |
| FORM 990, PART VI, SECTION A, LINE 6 | SEVENTY-FIVE NORTH REVITALIZATION CORPORATION IS THE SOLE MEMBER OF THE ORGANIZATION. |
| FORM 990, PART VI, SECTION A, LINE 7A | THE SOLE MEMBER HAS THE POWER TO ELECT THREE OF THE FIVE MEMBERS OF THE GOVERNING BODY. |
| FORM 990, PART VI, SECTION A, LINE 8B | THERE ARE NO COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. |
| FORM 990, PART VI, SECTION B, LINE 11B | THE RETURN WAS PROVIDED TO THE PRESIDENT FOR REVIEW AND DISTRIBUTION TO THE BOARD FOR COMMENTS PRIOR TO FILING. UPON APPROVAL, THE FORM 990 WAS FILED WITH THE IRS. |
| FORM 990, PART VI, SECTION B, LINE 15 | THE ORGANIZATION HAS NO EMPLOYEES. AS SUCH, NO PROCESS FOR DETERMINING COMPENSATION IS NECESSARY. |
| FORM 990, PART VI, SECTION C, LINE 19 | THE GOVERNING DOCUMENTS, FINANCIAL STATEMENTS AND FORM 990 ARE AVAILABLE TO THE PUBLIC UPON REQUEST. |
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