Coos Watershed Association

“Form 990 is reviewed by the executive and finance committees and then again when signed by the President or Executive Director.”

“The conflict of interest statements are completed by Board Members and returned to the Office Manager. Potential conflicts of interest are disclosed to the President who brings them, if material, to the Executive Committee. The decision to authorize a transaction with potential conflict of interest is at the discretion of the Executive Committee.”

“The Executive Committee does the review of the Executive Directors salary and makes a recommendation to the Board of Directors.”

“The Associations Form 990 - Return of Organization Exempt From Income Tax is provided on the Oregon Department of Justice, Charitable Activities Section website. https://justice.oregon.gov/Charities”

“Association documents can be accessed on the website at www.cooswatershed.org or by contacting the office by phone or email and requesting a copy.”

“The Association implemented FASB ASU No. 2016-14.Change in Accounting Principles - The three classes of net assets reported for financial statement purposes (unrestricted, temporarily restricted, and permanently restricted) have been replace with two classes of net assets - net assets with donor restrictions and net assets without donor restrictions.The temporarily restricted and permanently restricted net asset classes have been combined into a single net asset class called net assets with donor restrictions.The unrestricted net assets class has been renamed net assets without donor restrictions.”

“Correction of Errors - Part X, lines 17, 27, and 28 restated to correct for two errors. Line 28 - net assets with donor restrictions $179,418 reviewed by management; changed to net assets without donor restrictions (increase).Line 17 - accounts payable was increased for accrued sick leave $61,343; changed from board designtated net assets without donor restrictions (decrease).Line 27 - after correction of errors, restated from $142,774 to $260,849.”

“Part X, Line 27 and 28, Column A:Correction of an error - At the fiscal year ended December 31, 2017, the Association reported $191,051 as unrestricted net assets, line 27. Management has implemented FASB ASU No. 2016-14. The correction changes line 27 from $191,051 to $23,432, a decrease of $167,619. In addition, the correction changes line 28 from zero to $167,619. Part X, Line 33, Column A, remains unchanged at $191,051.”