Bay County Home Builders Association

“We are filing our 2015 form 990 late but as soon as we have the information from our former accountant. We have experienced a significant loss of members. In addition the members we have are not paying their dues. Currently we have less than 20,000 available to pay bills. The possible sale of our building, a merger with other area home builder associations, and the dissolution of our association have all been discussed. We are informing you of these facts as we anticipate a penalty for our late filing. We did not have the money to pay our former accountant and there was a dispute over the fees charged. We did not receive the backup to our accounting system until the end of july. We also found that our computer was not being used for our accounting and the bookkeeper was not updating our system. Once again we are filing our form as soon as possible after downloading our information. We are therefore asking for your consideration in abating any penalty for late filing based on our current financial situation and the circumstances regarding our accounting situation. Any penalty would be devastating to our continued existence.”

“Home show 22,665 social functions and events 16,463 building income 3,765 newsletter 2,655 miscellaneous 214 total 45,762”

“Home show cost of goods sold 8,646 social functions and events cost of goods sold 10,116 expenses advertising 5,437 travel 56 conferences and meetings 1,680 insurance 1,364 membership 1,575 dues and subscriptions 110 office supplies 775 telephone 1,838 publishing 3,121 program 270 postage and delivery 864 professional fees 3,700 other expenses 161 website 650 snow removal, landscaping 561 non-investment depreciation 3,350 total 44,274”

“Prior period adjustment 0 accounts receivable adjustment - 2014 -12,859”

“Accounts receivable 21,156 16,303 podium 922 922 less accumulated depreciation 922 922 computer 2,743 2,743 less accumulated depreciation 2,743 2,743 office equipment 390 390 less accumulated depreciation 390 390 total 21,156 16,303”

“Accounts payable and accrued expenses 1,497 1,460 payroll taxes 3,871 2,840”

“Through the publication of a memebership directory; special events; and other social activities the organization serves the 1 million residents of the bay county area with information on construction and building products and services.”