Thread: Financial's status

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  1. #1
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    Default Financial's status

    This was brought up in another thread, and we should have been more proactive in communicating this to you.

    As we've stated before, we've had a lot of work with the IRS, going over previous financials (all the way back to when JRT ran the show BTW). We think this is largely behind us, but of course, as you get audited about previous financials, current financials take a back seat.

    We have filed extensions for our 2013 financials, and our current extension puts these due next month (end Feb). We are working with the CPA to move this forward. When the due date hits, we'll either have filed a new extension or have these done. This will be the last set of financials under the previous operating structure (C2C), so moving forward (2014 financials) they will be a lot simpler and more palatable (zero being paid to directors etc.)

    We realize this is not optimal, but I'm sure anyone that has been audited by the IRS can attest that these are far from optimal experiences.

  2. #2
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    Default Re: Financial's status

    never fun doing that

  3. #3
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    Default Re: Financial's status

    As an update here, I have seen a draft 990, and this will be submitted Monday. We will then turn it around in the member's forum.

  4. #4
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    Default Re: Financial's status

    Update. The Form 990 for the year ending 3/31/2014 has been electronically filed. I assume that when someone gets a chance to post a link or PDF, they will. I would guess by the beginning of the coming week.
    '14 Blk Vper TA; old Vper: Q:11.4, st mi:174; '15 Auto Chall Hellcat Q:10.985/126.96; 08 SRT8 Jeep(159.52 st mi)(Q:12.13/111.7);00 Fd Ltning:Q:12.89/105.48 (sold). Best Q (Tp Dragster): 207.43 /6.793

  5. #5
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    Default Re: Financial's status

    Thanks for the update.

  6. #6
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    Default Re: Financial's status

    Lucas (treasurer) has the to-do to post these as well as give some explanation for some of the items (ie why do we still see some names on there that make no sense:answer 2013 filing, and it's the last time those name will be in our filing, etc.).

    He told me this would happen this week.

  7. #7
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    Default Re: Financial's status

    Yes. The return is for the year beginning 4/1/2013 and ending 3/31/2014. It is not a calendar year return.
    '14 Blk Vper TA; old Vper: Q:11.4, st mi:174; '15 Auto Chall Hellcat Q:10.985/126.96; 08 SRT8 Jeep(159.52 st mi)(Q:12.13/111.7);00 Fd Ltning:Q:12.89/105.48 (sold). Best Q (Tp Dragster): 207.43 /6.793

  8. #8
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    Default Re: Financial's status

    Guide star shows the 2012 (YE 3/31/13) as the most current return. Wh n will the 2013 be available?

  9. #9
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    Default Re: Financial's status

    The 990 for the year ending 3/31/2014 is available in the Members Only subforum and has its own thread entitled " VCA Fiscal Year 2013 990's Financial Treasurer Report".


    There is always a delay between the time a Form 990 is electronically filed with the IRS and when it appears on the Guidestar site. Gudestar is not an IRS site.
    '14 Blk Vper TA; old Vper: Q:11.4, st mi:174; '15 Auto Chall Hellcat Q:10.985/126.96; 08 SRT8 Jeep(159.52 st mi)(Q:12.13/111.7);00 Fd Ltning:Q:12.89/105.48 (sold). Best Q (Tp Dragster): 207.43 /6.793

  10. #10
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    Default Re: Financial's status

    Quote Originally Posted by Bobpantax View Post

    Gudestar is not an IRS site.
    While that may be true, the IRS does however recommend that Guidestar be contacted to see an organization’s current activities or financial data.
    Last edited by GRANGER73; 03-04-2015 at 06:18 PM.

  11. #11
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    Default Re: Financial's status

    It is not a matter of it "may" be true. It is true. Guidestar is not an IRS organization or web site and does not get Form 990 data immediately upon it being filed with the IRS. Guidestar is an independent non profit, federally exempt organization. To imply otherwise is not correct.

    http://en.wikipedia.org/wiki/GuideStar

    With that clarified, it is interesting to use the research tool on Guidestar to see how few organizations have some key words like "Viper" in them. There is a surprising shortfall in the number that one would expect to be there.

    Quote Originally Posted by GRANGER73 View Post
    While that may be true, the IRS does however recommend that Guidestar be contacted to see an organization’s current activities or financial data.
    Last edited by Bobpantax; 03-05-2015 at 12:38 AM.
    '14 Blk Vper TA; old Vper: Q:11.4, st mi:174; '15 Auto Chall Hellcat Q:10.985/126.96; 08 SRT8 Jeep(159.52 st mi)(Q:12.13/111.7);00 Fd Ltning:Q:12.89/105.48 (sold). Best Q (Tp Dragster): 207.43 /6.793

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