American Disabilities Association

“Preparation: The organization's financial team gathers all relevant financial information and documents required for completing Form 990. This includes income statements, balance sheets, details of expenses, program activities, governance structure, and other pertinent information. Completion of Form: The organization fills out Form 990 according to the instructions provided by the Internal Revenue Service (IRS). This involves accurately reporting financial data, governance information, program accomplishments, and other required details. Review by Internal Staff: Before submission, the completed Form 990 is reviewed by internal staff members responsible for financial reporting and compliance. This review aims to identify any errors, inconsistencies, or missing information that needs to be addressed before submission. Independent Review: Some organizations choose to have an independent party, such as an external accountant or auditor, review the completed Form 990. This independent review adds another layer of scrutiny to ensure accuracy and compliance. Board Review and Approval: The organization's board of directors or governing body typically reviews the completed Form 990 before submission. This review ensures that the board is aware of the organization's financial activities and that they are satisfied with the accuracy and transparency of the report. Finalization and Signature: Once all necessary reviews are complete and any corrections or adjustments have been made, the Form 990 is finalized. An authorized individual, such as the organization's CEO or board chair, signs the form, certifying its accuracy and completeness under penalty of perjury. Submission to the IRS: The finalized and signed Form 990 is submitted to the IRS by the designated deadline, which is typically the 15th day of the 5th month after the organization's fiscal year-end. Submission can be done electronically or by mail, depending on the organization's preference and requirements. Retention of Records: The organization retains copies of the submitted Form 990, along with supporting documents and records, for the required period as specified by IRS regulations. These records may be subject to review or audit by the IRS in the future.”

“We maintained compliance by consistent monitoring of board. Our President had direct contact with each member and all made aware of any conflicts.”

“There was no compensation to review. All members were willing to help without compensation.”

“We provide links from the IRS.gov site to reference our exemption and filing of documents. These documents are also available on the state level.”

“There was an initial donation by the founder to cover startup expenses and support.”

“Recognition of Income: Under cash accounting, income is recorded when cash is received. This means that income is recognized when it is actually received, regardless of when the services were provided, or the goods were sold. Recognition of Expenses: Expenses are recorded when cash is paid out. This means that expenses are recognized when they are actually paid, regardless of when the goods or services were received.”

“The Board of Directors oversees the financial records and operation via review meetings.”