Guitar Foundation of America

“The tax return is prepared by an outside accounting firm. After completion of said returns, the organization is sent a draft of the tax returns to be reviewed and examined. The organization makes copies of the returns and distributes to those individuals charged with governance. Those individuals at that time can review and if applicable discuss any line items in the return with the accountant who has prepared the return. If all items are found to be acceptable, an authorization is signed and provided to authorize the outside accounting firm to process, sign and provide copies of the returns to be filed (paper or electronically) with the designated governmental agencies. The tax returns are then signed by the organization, stamped and mailed with certified return receipt or the signed E-File forms are provided to the outside accounting firm allowing electronic filing.”

“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 Board of Directors of the Foundation (the "Board").After disclosure of the financial interest and all material facts, and after any discussion with the interested person, he/she shall leave the assembly of the Boardwhile the determination of a conflict of interest is discussed and voted upon. The remaining Board members shall decide if a conflict of interest exists.”

“Compensation is determined through an evaluation of the employees education and work experience.”

“Federal Tax Returns are available at guidestar.org.”

“Governing documents are available for public inspection at the principal place of business.The conflict of interest policy and the organization's financial statements are available upon request.”

“Bad debt = -$6486”