Us Photovoltaic Manufacturing Consortium Inc

“Prior to dissolution, the corporation had two members: research foundation for state university of new york acting on behalf of its affiliate, the state university of new york polytechnic institute and sematech, inc.”

“Prior to dissolution, the corporation's two members elected the board of directors but had no control over the board's actions. Each member could elect one board member, with an additional board member elected by the two members jointly.”

“Prior to dissolution, the corporation's form 990 was prepared internally under the supervision of management. It is reviewed by the corporation's outside accountants before filing.”

“Prior to dissolution, due to member organizational changes and changes to key personnel, conflict of interest disclosures were not disseminated and sought from the existing board members.”

“Prior to dissolution, all governing documents, policies and financial statements were available to the public, upon request, at the corporation's business office.”

“Reasonable cause explanation u.s. Photovoltaic manufacturing consortium (pvmc) filed its final form 990 for the short tax period from january 1, 2020 through may 31, 2020. This return was paper filed on march 23, 2021. Pvmc received a notice dated august 30, 2021 indicating that this return could not be paper filed. The paper return incorrectly reported that the short year ended may 31, 2021. The correct year-end is may 31, 2020. Upon receipt of the notice, pvmc worked to engage kpmg to electronically file this return using their tax software as pvmc did not have the capability to electronically file this return in its tax software. Pvmc had relied on guidance on the irs website indicating that the final return was not able to be filed electronically. This guidance can be found using the following link https://www.irs.gov/newsroom/irs-recent-legislation-requires-tax-exempt- organizations-to-e-file-forms. Pvmc is filing the form 990 electronically and requesting that any penalties associated with late filing be abated due to reasonable cause. Reasonable cause exists for pvmc as it filed the original return in a timely manner based on guidance on the irs website and, upon receipt of the notice, pvmc acted in a reasonable time to engage kpmg to file the return electronically.”

“U.s. Photovoltaic manufacturing consortium, inc. ("pvmc") ceased all program services during 2019 and dissolved on may 1, 2020.”

“Liquidating distribution - forgiveness of receivable balance -155,000.”