Wings Over Memphis Inc.

“Mr. Gagliano had a problem with a paycheck. The bank he uses clears his check with a third step so there was a timing issue with the clearing of his payroll check so a journal entry for this issue had to be made. The receivable clears to zero early in 2018.”

“The governing review board was given a copy of the financial statements used to produce the 990 and a copy of the 990 itself. The President sat with the EA that prepared the return and any questions were answered. He signed the efiling document so that the return could be efiled.”

“Paul J Gagliano is the President of this Charity. He receives compensation because with the help of the Board of Directors he puts in the hours to actually run the fund raising activity that provides funds for this charity to complete its purpose each year.”

“The change to Paul J Gaglianos compensation was presented to the Board of Directors for a vote. Paul recused himself from the vote. The Board approved the request.”

“In order for the general public to review the governing documents, they must present a certified written request with appropriate contact information to the following address:Wings Over Memphis IncP O Box 40403Memphis TN 38174Once the request has been received, the person/group will be contacted by the Charitys President or any assigned employee of the Charity. An appointment will be scheduled andthe requestor/requestors will be allowed to review the governing documents at the currentoffice of the Charity.Today that would be:5100 Poplar AvenueClark Tower, Suite 2505Memphis TN 38117”

“Prepaid Expenses went from other current assets to expense $3,350.00Vendors prepaid their booth rents for 2019 $3,050.00 was added to PrepaidVendor Fees as a current liability.Current year profits added to the cash balance of $20,094.25Other Prepaid Expense was added to Other Assets of $1,166.00”