Masonic Service Association Education Department

“Member is composed of the grand lodges of North America which have voted, or may vote, to become members of the association. Associate membership is open to Grand Lodges outside the territorial boundaries of North America, which may vote to join the association.”

“Form 990 is reviewed in detail and compared to the reviewed financial statements by the executive secretary prior to filing.”

“The conflict of interest policy has been approved by the board. The organization relies upon the integrity and honesty of each member of governance and management. If the organization becomes aware of a conflict of interest, it asks the individual(s) to recuse themselves.”

“Documents are made available upon request.”

“Editing: Program service expenses 15,000. Management and general expenses 0. Fundraising expenses 0. Total expenses 15,000. Contract Services: Program service expenses 18,053. Management and general expenses 0. Fundraising expenses 0. Total expenses 18,053. Bookkeeping : Program service expenses 0. Management and general expenses 28,797. Fundraising expenses 0. Total expenses 28,797.”

“The Association prepares its financial statements on a modified cash basis of accounting, which is considered a comprehensive basis of accounting other than generally accepted accounting principles. Unlike generally accepted accounting principles, where revenue is generally recognized when earned and expenses are generally recognized when incurred, except for the noted modifications, revenue and expenses in these financial statements are recognized on a cash basis (i.e., when received and when paid, respectively). The principal modifications from the pure cash basis of accounting in preparing the financial statements follow: Property and equipment - the Association generally capitalizes and depreciates purchases of furniture and equipment; Investments - the Association reports its investment at fair value; Security deposit - the Association capitalizes large security deposits; Payroll taxes - unremitted payroll taxes originating from the processing of payroll are reported as liabilities.”

“The process is consistent with the prior year.”