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“SOCIAL WELFARE ORGANIZATION”

1/23/23, 1:32 PM

“SOCIAL WELFARE ORGANIZATION”

The BUDGET PREPARATION PROCESS is currently underway and one particular financial document is not part of the Budget Audit Committee’s (BAC) review-IRS 990.

The IRS 990 is a required financial document that must be filed annually by all U.S. tax-exempt nonprofits along with related supporting documents. Additionally, it is a significant part of the overall financial reporting process.

The IRS uses the 990 Form/Filing as a tracking system to ensure the organization is in compliance, as well as, evaluates how the organization is doing financially. It has been described as a “report card” for a nonprofit that allows the government to determine whether the organization is a reliable and honest entity.

The Form 990 can explain a lot about the inner workings of an organization beyond the typical financial data entries. The Form addresses non-financial matters regarding management, governance and programs associated with the organizations existence.

As previously reported, Crooked River Ranch (CRR) is a 501(c) 4 entity and is federally mandated to file Form 990 annually. According to IRS regulations, a 501(c) 4 is described as a “social welfare organization” that must operate primarily to further the common good and general welfare of the people of the community.

Ranch Matters (RM) has obtained the most recent filed Form 990 from the Ranch Administration reflecting the tax year beginning 5/01/2020 and ending 4/30/2021.

COPY ATTACHED

Listed under Section C, Disclosure, Judith E. Lapora is the listed person who possesses the organizations books and records.

 

According to the Schedule O-Supplemental Information Form, “DRAFT COPIES OF THE FORM 990 ARE PROVIDED TO THE BOARD FOR THEIR REVIEW BEFORE THE RETURN IS FILED.

RM can’t recall the 990 ever being discussed by the CRR/BOD at any meeting.

Ranch Matters Staff

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