Lakeland Aero Club Inc

“The board of directors may establish committees from among its membership and, subject to any limitations imposed by law, shall vest in such committees such powers and duties as the board of directors shall think proper.”

“A complete copy of the form 990 will be provided to the board of directors for review before filing with the irs.”

“Any director, principal officer, or member of a committee with governing board delegated powers, who has a direct or indirect financial interest, is an interested person. In connection with any actual or possible conflict of interest, an interested person must disclose the existence of the financial interest and be given the opportunity to disclose all material facts to the directors and members of committees with governing board delegated powers considering the proposed transaction or arrangement. After disclosure of the financial interest and all material facts, and after any discussion with the interested person, he/she shall leave the meeting during the discussion of, and the vote on, the transaction or arrangement involving the possible conflict of interest. The chairperson of the governing board or committee shall, if appropriate, appoint a disinterested person or committee to investigate alternatives to the proposed transaction or arrangement. After exercising due diligence, the governing board or committee shall determine whether the organization can obtain with reasonable efforts a more advantageous transaction or arrangement from a person or entity that would not give rise to a conflict of interest. If a more advantageous transaction or arrangement is not reasonably possible under circumstances not producing a conflict of interest, the governing board or committee shall determine by a majority vote of the disinterested directors whether the transaction or arrangement is in the organization's best interest, for its own benefit, and whether it is fair and reasonable. In conforming to the above determination, it shall make its decision as to whether to enter into the transaction or arrangement. The minutes of the governing board and all committees with the board delegated powers shall contain: the names of all persons who disclosed or otherwise were found to have a financial interest in connection with an actual or possible conflict of interest, the nature of the financial interest, any action taken to determine whether a conflict of interest was present, and the governing board's or committee's decision as to whether a conflict of interest in fact existed; the names of the persons who were present for discussions and votes relating to the transaction or arrangement, the content of the discussion, including any alternatives to the proposed transaction or arrangement, and a record of any votes taken in connection with the proceedings.”

“The organization's governing documents, conflict of interest policy, and financial statements are available upon request.”

“Lakeland aero club, inc. Has changed its accounting period from a fiscal year ending september 30 to a fiscal year ending june 30. As a result, this form 990 is being filed for a short period covering october 1, 2024, through june 30, 2025. This change was made to better align the organization's financial reporting with operational and programmatic cycles. The organization has complied with irs requirements for changing its accounting period and will continue to file future returns based on the new fiscal year ending june 30.”

“Professional services: program service expenses 37,995. Management and general expenses 4,470. Fundraising expenses 2,235. Total expenses 44,700.”