Parkinson Study Group Inc

“Form 990, part vi, section a line 6:there are two membership classes within the organization consisting of voting members and associate members.”

“Form 990, part vi, section a, line 7a:the voting members of the organization elect the members of the executive committee as term limits expire.”

“Form 990, part vi, section b, line 11b:executive committee members are provided a copy of form 990 and a presentation is made at a committee meeting prior to submission.”

“Form 990, part vi, section b, line 12c:disclosure forms are required to be completed by executive committee members and members of standing committees and working groups. These forms are updated when there is a change in the status of a psg member regarding a potential conflict of interest. Disclosures are reviewed by legal counsel as needed. Those deemed to be in violation or potential violation are reviewed by members of the standards committee. Recommendations as to the management of these conflicts are then forwarded by the chair of the standards committee to the executive committee for any action necessary.”

“Form 990, part vi, section c, line 18:copies of form 990 and the organizations financial statements are available for public inspection online with the irs and the massachusetts attorney general.”

“Form 990, part vi, section c, line 19:copies of governing documents and conflict of interest policy are available for public inpection online at the psg website and with the massachusetts attorney general.”

“Form 990, part vii, section a:in accordance with irs guidelines reportable compensation includes compensation for independent contractor services to the filing organization.”

“Form 990, part xii, line 1:psg had a change of accounting method for the fiscal year ended september 30, 2020. In the prior year the organization used the modified cash basis method of accounting. The organization changed to the accrual basis method of accounting for the fiscal year ended september 30, 2020 and subsequent years. The change was made to be in compliance and conformity with generally accepted accounting principles. This method of accounting properly presents the financial activity and position of the organization. A separate note concerning a prior period adjustment to net assets due to the change in accounting method to the accrual method is provided for part xi, providing further detail regarding the financial impact of the change.”

“Form 990, part ix, line 11g:program service expenses- program support paid to uor - 62,521- stipends - 106,939- consulting services - 20,000total other program service expenses - 189,460management general & administrative- program support paid to uor - 50,016- administrative support - 14,715total other management general & administrative - 64,731fundraising- program support paid to uor - 12,504total other fundraising - 12,504 total other fees for services on form 990, part ix, line 11g, col a - 266,695”

“Form 990, part iii, line 1:to make substantial advances in our understanding and treatment of parkinsons disease and other parkinsonian disorders; working as an efficient, collaborative network of talented clinicians and scientists and operating under a supportive and proactive leadership with broad backing from government, industry, foundation, and patient stake-holders in the parkinson community.”

“Form 990, part xi, line 8:during fiscal year ended on september 30, 2019 psg had liabilities that were not recorded due to the books being kept and reporting made in modified cash-basis accounting. The result was an overstatement in net assets for that fiscal year end. Due to transition to accrual method of accounting in fiscal year ended on september 30, 2020, a prior period adjustment is made to the current fiscal year end beginning net asset balance representing the liabilities that were accrued as of the end of the prior fiscal year ended september 30, 2019.”