| Return Reference | Explanation |
|---|---|
| Schedule D, Part X, Line 2 | The fraternity is generally exempt from income taxes under section 501c7 of the internal revenue code. Accordingly, no provision or liability for income taxes has been included in the accompanying financial statements. |
| Schedule D, Part X, Line 2 - Continued | With few exceptions the fraternity is no longer subject to income tax examinations by the applicable tax authorities for the years before 2002. If any were to be incurred, the policy is to record penalties/interest assessed as expenses. |
| Part VI, Line 11b | Although all Board of Directors receive a copy prior to filing, only selected members of the Board review and approve the 990. |
| Part VI, Line 15a | The CEO's performance review, used to determine annual compensation, includes use of comparability data as well as substantiation of the deliberation and decision. |
| Part VI, Line 19 | The Fraternity makes available to the public upon request financial statements, governing documents, conflict of interest policy and Form 990. |
| Part XII, Line 2c | The process for overseeing the audit and selection of an independent accountant has not changed from the prior year. |
| Part VI, Line 12c | No officer, director or key employee of the Fraternity shall have any outside commitments, personal or otherwise, that would prevent him or her from acting in the best interest of the Fraternity. The best interest of the Fraternity shall be |
| Part VI, Line 12c - Continued | understood to include; to not receive any money or thing of value, either directly or indirectly, in association with any financial transaction involving the Fraternity, to not receive, as a consequence of your affiliation with the |
| Part VI, Line 12c - Continued | Fraternity, any money or thing of value either directly or indirectly from another party who has or is likely to have any business or financial relationship with the Fraternity; and to not participate or engage in any business activity |
| Part VI, Line 12c - Continued | which will or could conflict with the interest of the Fraternity. In the event a situation or event arises in which a potential conflict of interest arises, the party must give written notice to the President of the |
| Part VI, Line 12c - Continued | International Executive Board of Directors and refrain from participating in any action or vote with respect to the matter. |
| Software ID: | 24020071 |
| Software Version: |