Mcdowell Lfac

“A preliminary copy of the return is provided to each member of the board via email prior to filing.”

“Before engaging in any activity, transaction, or relationship that might give rise to a conflict of interest, employees must seek review from their supervisor.”

“Compensation was determined by the grant making agency agreement based on their scale.”

“At our community monthly meetings the financial records are shared and any other documents upon request.”

“Mcdowell lfac started two new programs in fy2021: healthy opportunities pilot (hop) program: the hop program is a true pilot in that only 3 regions in nc participate and the 18 western nc counties and qualla boundary are one of them. The mcdowell lfac / foothills food hub (as the building) is contracted as a human services organization (hso) with impact health, who serves as liaison with medicaid and other state agencies. The lfac as hso creates and delivers food boxes to those medicaid clients who sign up and are approved for food box receipt. Lfac is then reimbursed by the medicaid managed plans for those food boxes. As an hso, we will add services in the next fiscal year including diabetes prevention classes in our teaching kitchen. Nc farmers of the foothills: farmers of the foothills is a cooperative group of farmers organized by mcdowell cooperative extension. This was started in 2019 with farmers interested in joining together to purchase materials, market their products and create a csa (community supported agriculture) program for mcdowell county. Farmers agree to pay dues to support the program and share their products to create a local food share each year. This group also has a website that allows community members to purchase local food items directly from farmers that are part of the cooperative. The mcdowell lfac acts as fiscal agent and supports and offers services to these members.”

“No change to oversight or selection process from prior year. Compiled finacial statements are emailed and reviewed on a monthly basis by the board of directors.”

“During the preparation of the 2021 form 990, it was discovered that the taxpayer had erroneously capitalized an asset and depreciated it on the 2020 tax return. Upon discovery, the taxpayer began the process of amending the 2020 tax return to correct this error. Due to the timing of discovery, the amend the 2020 tax return was not filed before filing the 2021 form 990. However, these changes have been accounted for on the 2021 federal form 990 to preserve continuity of total net assets. An asset valued at $18,350 was erroneously reported in service and depreciated during the year 8/1/2020-7/31/2021. During fiscal year 7/31/2021, a $9,175 deposit was made on the asset, but the remaining purchase price of $9,175 was not paid until the asset was received during the 8/1/2021-7/31/2022 year. An expense was erroneously reduced for the amount paid in fiscal year 7/31/2022. The changes in expense as a result of not capitalizing and depreciating the assets affect the prior year totals on page 1, part i. The numbers reported agree with the amended 2020 form 990 as follows: ** an increase in other expenses on line 17 of 9,022 from 345,033 to 354,055. ** an increase in total expenses on line 18 of 9,022, from 413,693 to 422,715. ** a decrease in revenue less expenses on line 19 of 9,022 from 327,019 to 317,977. The amended return also affects the beginning of year balance sheet. The following changes are made to page 11, part x, column a: ** line 10c - a decrease of 18,197, from 639,321 to 621,124. ** line 15 - an increase of 9,175, from 1,000 to 10,175. ** line 16 - a decrease of 9,022, from 842,553 to 833,531. ** lines 27 & 32 - a decrease of 9,022, from 840,828 to 831,806. ** line 33 - a decrease of 9,022, from 842,553 to 833,531.”