| Return Reference | Explanation |
|---|---|
| Other | Form 990, Part I, Line 1 -DESCRIPTION OF ORGANIZATION MISSION: AMERICAN CHAMBER OF COMMERCE IN UKRAINE BRINGS TOGETHER INDUSTRIES LEADERS TO LEARN ABOUT THE LATEST DEVELOPMENTS AND OPPORTUNITIES ON THE GROUND AND TO FURTHER IMPROVE THE INVESTMENT ENVIROMENT IN UKRAINE TOGETHER WITH RESPONSIBLE STAKEHOLDERS TO PUSH A PRO-GROWTH AGENDA FORWARD. THE CHAMBER CREATED A STRONG POLICY PLATFORM THAT COVERS KEY SPHERES OF THE ECONOMY. THE CHAMBER B2G ACTIVITIES REVOLVE AROUND THE WORK OF 27 SECTOR-SPECIFIC POLICY COMMITTEES, 6 WORKING GROUPS, 5 CLUBS AND HUBS.THE POLICY PLATFORM FOSTERS THE DIALOGUE BETWEEN THE CHAMBER MEMBER COMPANIES AND STATE AUTHORITIES AS WELL AS STAKEHOLDERS IN POLITICS, BUSINESS AND CIVIL SOCIETY. |
| Other | Form 990, Part III, Line 1 - ORGANIZATIONS MISSION B2G: DRIVING ACTIONABLE DIALOGUE BETWEEN BUSINESS AND GOVERNMENT. B2B: CONTINUOUSLY CREATING OPPORTUNITIES FOR BUSINESS TO BUSINESS PARTNERSHIPS. B2U: PRORMOTING UKRAINE INTERNATIONALLY AS AN ATTRACTIVE INVESTMENT DESTINATION. |
| Pt VI, Line 6 | THE AMERICAN CHAMBER OF COMMERCE IN UKRAINE HAS MEMBER COMPANIES THAT JOIN THE ORGANIZATION ON AN ANNUAL BASIS AND PAY MEMBERSHIP FEES |
| Pt VI, Line 7a | EACH MEMBER COMPANY CASTS ONE VOTE IN ELECTING THE CHAMBERS BOARD OF DIRECTORS. MEMEBERS DO NOT APPROVE BOARD DECISIONS NOR DO THEY RECEIVE A SHARE OF CHAMBERS PROFIT OR EXCESS DUES OR A SHARE OF THE ORGANIZATIONS NET ASSETS UPON THE ORGANIZATIONS DISSOLUTION. |
| Pt VI, Line 8b | THE CHAMBER MEMBER COMPANIES ELECT THE BOARD OF DIRECTORS (4 TO 16) ON AN ANNUAL BASIS. THE BOARD RUNS THE CHAMBER, MAKING STRATEGIC DECISIONS AND PLANNING. THERE ARE MINUTES OF EACH BOARD MEETING. NO COMMITTEES HAVE AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. |
| Pt VI, Line 11b | THE DRAFT OF THE IRS FORM 990 IS PREPARED BY THE ACCOUNTING FIRM UPON THE YEAR-END FINANCIAL STATEMENTS, WHICH WERE REVIEWED BY AN INDEPENDENT ACCOUNTANT, ACCEPTED BY THE TREASURER (A MEMBER OF THE BOARD OF DIRECTORS), AND SUBSEQUENTLY ACCEPTED BY THE BOARD OF DIRECTORS. |
| Pt VI, Line 12c | THE CONFLICT OF INTEREST POLICY IS SIGNED BY EACH BOARD MEMBER AT THE BEGGINING OF THEIR TERM. THE CONFLICT OF INTEREST POLICY IS REITERATED ON A REGULAR BASIS DURING MONTHLY BOARD MEETINGS. |
| Pt VI, Line 15a | THE BOARD OF DIRECTORS REVIEWS THE PRESIDENTS COMPENSATION USING COMPARABLE DATA FROM A SALARY SURVEY PROVIDED BY A REPUTABLE INTERNATIONAL CONSULTING FIRM. |
| Pt VI, Line 19 | THE ORGANIZATIONS BYLAWS ARE AVAILABLE TO ALL MEMBERS UPON REQUEST. FINANCIAL STATEMENTS MAY BE VIEWED BY MEMBERS ON AN ANNUAL BASIS IN THE CHAMBER OFFICE AFTER SUCH INFORMATION HAS BEEN COMPILED BY THE TREASURER AND REVIEWED BY THE BOARD OF DIRECTORS. FINANCIAL INFORMATION AVAILABLE FOR REVIEW CONSISTS OF THE YEAR END CONSOLIDATED BALANCE SHEET AND INCOME STATEMENT. |
| Pt VIII | Car insurance payout OF $6,878. THE VEHICLE WAS ACQUIRED IN 2018 FOR THE ORGANIZATION OPERATIONS PURPOSES. IT WAS FULLY DEPRECIATED BY 2025, WHEN IT WAS TOTALED IN AN ACCIDENT. THE INSURANCE REIMBURSED $6878 TO THE ORGANIZATION. SUBSEQUENTLY, THE MANAGEMENT DECIDED TO SELL THE IMMOBILIZED VEHICLE AT AN AUCTION, AT WHICH POINT THE VEHICLE WAS MOVED FROM ASSETS TO THE INVENTORY KEPT FOR SALE CATEGORY. IT WAS LATER SOLD IN EARLY 2026 TO AN UNRELATED PARTY. THESE TRANSACTIONS ARE NOT TAXABLE FOR A 501c(6) ORGANIZATION BECAUSE THE VEHICLE WAS PURCHASED BY THE ORGANIZATION FOR AND USED FOR ROUTINE ORGANIZATION OPERATIONS. ALL THE FUNDS RECEIVED FROM THE INSURANCE AND THE SALE ARE PLANNED TO BE USED FOR THE PURCHASE OF A NEW VEHICLE TO BE USED IN ORGANIZATION OPERATIONS. |
| Pt X | THE ORGANIZATION IS RENTING OFFICE SPACE ON THE RIGHT-OF-USE BASIS, AS DETERMINED BY THE AUDIT REPORT. THE RENTAL OF THE CHAMBERS OFFICE SPACE SHOULD BE ACCOUNTED FOR AS A LONG-TERM OPERATING LEASE, RECOGNIZING A RIGHT-OF-USE ASSET FOR THE LEASED ASSETS AND A LIABILITY FOR THE PRESENT VALUE OF THE LEASE PAYMENTS, WITH THE TOTAL AMOUNT OF PAYMENTS RECOGNIZED AS OPERATING EXPENSES ON A STRAIGHT-LINE BASIS. ACCORDING TO ASC842, IN 2025, THE CHAMBER RECOGNIZED THE LEASE AGREEMENTS FOR THE OFFICE AND STORAGE UNIT WHICH HAVE A TERM OF 2.5 YEARS AND WILL EXPIRE IN JULY 2027-AS LONG-TERM LEASES. CONSEQUENTLY, ACCORDING TO THE ASC 842, ROU IS LISTED AS ASSETS IN PART PART X, LINE 15 (OTHER ASSETS) AND THE CORRESPONDING RENT LIABILITY IS LISTED IN PART PART X, LINE 25 (OTHER LIABILITIES). PLEASE NOTE THAT SINCE ITS AN OPERATING LEASE, IT IS STILL PRESENTED AS AN OPERATING EXPENSE TO RECOGNIZE THE LEASE COST. |
| Software ID: | 25022686 |
| Software Version: |