| Return Reference | Explanation |
|---|---|
| Organizational document changes Part VI line 4 | THE ORGANIZATION REVIEWED AND UPDATED ITS BY-LAWS DURING THE YEAR FOR CERTAIN ADMINISTRATIVE AND PROCEDURAL MATTERS. |
| Form 990 governing body review Part VI line 11 | FORM 990 IS REVIEWED BY THE TREASURER OF THE BOARD OF DIRECTORS UPON RECEIPT FROM THEORGANIZATIONS INDEPENDENT CPA PREPARER AND BEFORE FILING THE RETURN WITH IRS. THE REVIEW TYPICALLYTAKES PLACE AT THE BUSINESS OFFICE OF THE TREASURER OF THE BOARD AND IS ATTENDED BY THEORGANIZATIONS CPA TO ANSWER QUESTIONS AND CLARIFY POINTS OF INTEREST RAISED BY THE BOARDTREASURER. THE ORGANIZATION BELIEVES THIS PROCESS IS THE MOST EFFECTIVE AND EFFICIENT METHOD OFREVIEW BECAUSE TIME CONSTRAINTS AND LACK OF TECHNICAL PROFICIENCY CONCERNING TAX MATTERSAFFECTING THE ORGANIZATION MAY PRECLUDE A THOROUGH AND EFFECTIVE REVIEW BY ALL MEMBERS OF THEBOARD OF DIRECTORS. HOWEVER, ANY MEMBER CAN ATTEND THE MEETING WITH THE THE BOARD TREASURER ANDTHE ORGANIZATIONS CPA. |
| Conflict of interest policy compliance Part VI line 12c | BOARD MEMBERS AND EMPLOYEES SUBMIT ANNUAL CONFLICT OF INTEREST STATEMENTS AND IF NOT PREVIOUSLY DISCLOSED, WILL DISCLOSE ANY CONFLICT OR POTENTIAL CONFLICT. THE ANNUAL STATEMENTS ARE REVIEWED BY LEGAL COUNSEL WHO WILL ATTEMPT TO RESOLVE ANY ACTUAL OR POTENTIAL CONFLICTS AND, IN ABSENCE OF RESOLUTION, REFER ALL SUCH MATTERS TO THE FULL BOARD. |
| Governing documents etc available to public Part VI line 19 | THE ORGANIZATION PROVIDES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICIES AND FINANCIAL STATEMENTS TO THE PUBLIC UPON REQUEST AND TO THE EXTENT IT IS LEGALLY REQUIRED TO DO SO. |
| List of other expenses Part IX line 24e | DURING THE YEAR THE ORGANIZATION WROTE DOWN A CAPITALIZED LEASE ASSET ALONG WITH CERTAIN LEASEHOLD IMPROVEMENTS AND EQUIPMENT THAT HAS NO TRANSFERRABLE VALUE TO THE ORGANIZATION. THIS ONE-TIME WRITE DOWN WAS FOR $817,441. THE ORGANIZATION SHARES IN THE COST OF CERTAIN IMPROVEMENTS MADE BY VANDERBILT UNIVERSITY WHO OWNS THE REAL ESTATE. IN THE FUTURE THESE COSTS WILL BE DIRECTLY EXPENSED SINCE VANDERBILT UNIVERSITY HOLDS THE RESIDUAL VALUE. |
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