Nc State Student Aid Association Inc

“The organization has members, but the members do not own stock and they do not receive any income from the organization.”

“The audit and finance committee of the board of directors are provided with a copy of the 990 to review and approve prior to filing. All board members can request a copy of the form 990 once the form has been approved by the audit and finance committee.”

“Board members are required to report and disclose annually any conflict of interests or indicate if no such conflicts exist through a signed conflict of interest policy and disclosure statement.”

“The executive committee of the board of directors determines and approves the compensation of the executive director. The compensation is based on comparisions made with similar associations and overall success of the association in achieving membership and fundraising goals.”

“The association makes its form 1023, form 990, and form 990-t available to interested parties upon request made to the association.”

“The association makes its governing documents, conflict of interest policy and financial statements available to interested parties upon request made to the association.”

“In accordance with the provisions of the 2017 tax cuts and jobs act, the association no longer recognizes amounts paid in exchange for athletic event seating rights as charitable contributions. Since the tax act's provision applies to contributions made in taxable years beginning after december 31, 2017, the organization did not provide charitable donor acknowledgement receipts for these transactions effective january 1, 2018. Although form 990, page 9, line 1f indicates that all reciepts received during the fiscal year ending june 30, 2019 have been classified as "contribution" revenue, the accounting treatment is consistent with the association's financial reporting method regularly used to maintain its books and records. When further guidance is provided under generally accepted accounting principles, the association will classify their revenue accordingly.”

“Miscellaneous: program service expenses 0. Management and general expenses 14,447. Fundraising expenses 37,935. Total expenses 52,382. Printing: program service expenses 5,808. Management and general expenses 7,824. Fundraising expenses 20,546. Total expenses 34,178. Telephone: program service expenses 14,932. Management and general expenses 4,577. Fundraising expenses 12,019. Total expenses 31,528. Dues & subscriptions: program service expenses 0. Management and general expenses 0. Fundraising expenses 20,440. Total expenses 20,440. Property taxes: program service expenses 0. Management and general expenses 15,737. Fundraising expenses 0. Total expenses 15,737. Maintenance: program service expenses 901. Management and general expenses 276. Fundraising expenses 724. Total expenses 1,901.”

“Change in value of split interest agreement -59,192.”