AMES CHI OMEGA ALUMNAE ASSOCIATION: Form 990, tax year 2014
View the entire original 990 at ProPublica ↗
- Organization
- AMES CHI OMEGA ALUMNAE ASSOCIATION (EIN 42-6055006)
- Tax period
- 2014-07-01 to 2015-06-30
- Filed
- 2016-02-05
- IRS object ID
- 201610369349301006
- Schema version
- 2014v6.0
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2016-02-05T09:32:45-06:00 | ReturnTs |
| Tax Period End | 2015-06-30 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 420794029 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | DENMAN & COMPANY LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1601 22ND STREET SUITE 400 | AddressLine1Txt |
| City | WEST DES MOINES | CityNm |
| State Abbreviation | IA | StateAbbreviationCd |
| ZIP | 502661453 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2014-07-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 426055006 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | AMES CHI OMEGA ALUMNAE ASSOCIATION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | AMES | BusinessNameControlTxt |
| Phone | 5159547780 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 227 GRAY AVENUE | AddressLine1Txt |
| City | AMES | CityNm |
| State Abbreviation | IA | StateAbbreviationCd |
| ZIP | 50014 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | ERIKA WEBER | PersonNm |
| Person Title | PRESIDENT | PersonTitleTxt |
| Phone | 5159547780 | PhoneNum |
| Signature | 2016-02-04 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | BREANNE KRUGER | PreparerPersonNm |
| PTIN | P01254752 | PTIN |
| Phone | 5152258400 | PhoneNum |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2014 | TaxYr |
| Build TS | 2016-04-25 22:37:26Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | ERIKA WEBER | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 227 GRAY AVENUE | AddressLine1Txt |
| City | AMES | CityNm |
| State Abbreviation | IA | StateAbbreviationCd |
| ZIP | 50014 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $1,042,778 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | N/A | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1929 | FormationYr |
| Legal Domicile State | IA | LegalDomicileStateCd |
| Activity Or Mission | TO OPERATE AND MAINTAIN A SUITABLE HOME FOR THE SORORITY MEMBERS ATTENDING IOWA STATE UNIVERSITY IN AMES, IA. | ActivityOrMissionDesc |
| Voting Members Governing Body | 4 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 4 | VotingMembersIndependentCnt |
| Total Employee | 16 | TotalEmployeeCnt |
| Total Volunteers | 0 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $490,936 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $542,749 | CYProgramServiceRevenueAmt |
| PY Investment Income | $8 | PYInvestmentIncomeAmt |
| CY Investment Income | $29 | CYInvestmentIncomeAmt |
| PY Other Revenue | $0 | PYOtherRevenueAmt |
| CY Other Revenue | $500,000 | CYOtherRevenueAmt |
| PY Total Revenue | $490,944 | PYTotalRevenueAmt |
| CY Total Revenue | $1,042,778 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $0 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $0 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $68,357 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $58,901 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $433,544 | PYOtherExpensesAmt |
| CY Other Expenses | $450,051 | CYOtherExpensesAmt |
| PY Total Expenses | $501,901 | PYTotalExpensesAmt |
| CY Total Expenses | $508,952 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | -$10,957 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $533,826 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $997,442 | TotalAssetsBOYAmt |
| Total Assets EOY | $1,421,604 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $361,551 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $251,887 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $635,891 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $1,169,717 | NetAssetsOrFundBalancesEOYAmt |
| Mission | TO OPERATE AND MAINTAIN A SUITABLE HOME FOR THE SORORITY MEMBERS ATTENDING IOWA STATE UNIVERSITY IN AMES, IA. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Desc | TO OPERATE AND MAINTAIN A SUITABLE HOME FOR THE SORORITY MEMBERS ATTENDING IOWA STATE UNIVERSITY IN AMES, IA, AS WELL AS PROVIDING HIGH QUALITY MEALS TO THE MEMBERS OF THE SORORITY. | Desc |
| Described In Section501c3 | 0 | DescribedInSection501c3Ind |
| Schedule B Required | 0 | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Temp Or Permanent Endowments | 0 | TempOrPermanentEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | 0 | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | 0 | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | 0 | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | 0 | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | 0 | GrantsToOrganizationsInd |
| Grants To Individuals | 0 | GrantsToIndividualsInd |
| Schedule J Required | 0 | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With Officer Ent | 0 | BusinessRlnWithOfficerEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | 0 | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 0 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Employee | 16 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | 0 | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Initiation Fees And Cap Contri | $0 | InitiationFeesAndCapContriAmt |
| Gross Receipts For Public Use | $0 | GrossReceiptsForPublicUseAmt |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 4 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 4 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | Yes (1) | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | 0 | MembersOrStockholdersInd |
| Election Of Board Members | 0 | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | 0 | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | 0 | ConflictOfInterestPolicyInd |
| Whistleblower Policy | 0 | WhistleblowerPolicyInd |
| Document Retention Policy | 0 | DocumentRetentionPolicyInd |
| Compensation Process CEO | 0 | CompensationProcessCEOInd |
| Compensation Process Other | 0 | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | THE ORGANIZATION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 5159547780 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 227 GRAY AVENUE | AddressLine1Txt |
| City | AMES | CityNm |
| State Abbreviation | IA | StateAbbreviationCd |
| ZIP | 50014 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| No Listed Persons Compensated | Yes (X) | NoListedPersonsCompensatedInd |
Form990 Part VII Section A Form990PartVIISectionAGrp (4 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt |
|---|---|---|---|---|---|---|
| ERIKA WEBER | ||||||
| PRESIDENT | 5.00 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| KATIE HANSEN | ||||||
| SECRETARY | 5.00 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| JESSICA HENRY | ||||||
| DIRECTOR | 5.00 | Yes (X) | $0 | $0 | $0 | |
| JULIE BAUTISTA | ||||||
| DIRECTOR | 5.00 | Yes (X) | $0 | $0 | $0 | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $0 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $0 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 0 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | 0 | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
| Cntrct Rcvd Greater Than100 K | 0 | CntrctRcvdGreaterThan100KCnt |
Program Service Revenue ProgramServiceRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | MEMBERSHIP DUES & ASSE | Desc |
| Business | 900099 | BusinessCd |
| Total Revenue Column | $542,749 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $542,749 | RelatedOrExemptFuncIncomeAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $542,749 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $29 | TotalRevenueColumnAmt |
| Exclusion | $29 | ExclusionAmt |
Other Revenue Misc OtherRevenueMiscGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | INSURANCE CLAIM PROCEE | Desc |
| Business | 900099 | BusinessCd |
| Total Revenue Column | $500,000 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $500,000 | RelatedOrExemptFuncIncomeAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $500,000 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $1,042,778 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $1,042,749 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $29 | ExclusionAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $47,777 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $6,945 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,179 | TotalAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $5,926 | TotalAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $10,434 | TotalAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $11,106 | TotalAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $7,525 | TotalAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,164 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $14,909 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $98,474 | TotalAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $8,383 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| FOOD AND KITCHEN SUPPLI | $144,953 |
| REPAIRS AND MAINTENANCE | $78,819 |
| UTILITIES | $28,236 |
| PROPERTY TAX | $15,098 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $25,024 | TotalAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $508,952 | TotalAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $58,548 | BOYAmt |
| EOY | $12,854 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $370,410 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $2,365,939 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $1,327,599 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $938,894 | BOYAmt |
| EOY | $1,038,340 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $997,442 | BOYAmt |
| EOY | $1,421,604 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,765 | BOYAmt |
| EOY | $1,074 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $359,786 | BOYAmt |
| EOY | $250,813 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $361,551 | BOYAmt |
| EOY | $251,887 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows SFAS117 | Yes (X) | OrganizationFollowsSFAS117Ind |
Unrestricted Net Assets UnrestrictedNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $635,891 | BOYAmt |
| EOY | $1,169,717 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $635,891 | BOYAmt |
| EOY | $1,169,717 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $997,442 | BOYAmt |
| EOY | $1,421,604 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expnss | $533,826 | ReconcilationRevenueExpnssAmt |
| Other Changes In Net Assets | $0 | OtherChangesInNetAssetsAmt |
| Method Of Accounting Cash | Yes (X) | MethodOfAccountingCashInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | 0 | FSAuditedInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule D IRS990ScheduleD
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | $80,000 | InvestmentCostOrOtherBasisAmt |
| Book Value | $80,000 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | $2,258,250 | InvestmentCostOrOtherBasisAmt |
| Depreciation | $1,301,522 | DepreciationAmt |
| Book Value | $956,728 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | $7,429 | InvestmentCostOrOtherBasisAmt |
| Depreciation | $7,429 | DepreciationAmt |
| Book Value | $0 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | $20,260 | InvestmentCostOrOtherBasisAmt |
| Depreciation | $18,648 | DepreciationAmt |
| Book Value | $1,612 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $1,038,340 | TotalBookValueLandBuildingsAmt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (3 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 5 | AT THE BEGINNING OF THE 2014 TAX YEAR, ERIKA WEBER, CURRENT BOARD PRESIDENT JOINED THE BOARD OF DIRECTORS. UPON JOINING THE BOARD, ERIKA BECAME AWARE THAT THE PREVIOUS BOARD OF DIRECTORS WAS NOT PROVIDING ADEQUATE OVERSIGHT OVER THE CHAPTER'S FINANCIAL RECORDING AND REPORTING FUNCTIONS (WHICH AT THAT TIME WAS THE RESPONSIBILITY OF THE BOARD TREASURER). WITH THIS BOARD MEMBER TRANSITION, THE BOARD OF DIRECTORS BEGAN ACTIVELY PROVIDING OVERSIGHT TO THE FINANCIAL RECORDING AND REPORTING OF THE ORGANIZATION AND LOOKING INTO HISTORICAL TRANASACTIONS TO VERIFY PROPRIETY. DURING THIS PROCESS, IT WAS DISCOVERED BY THE CURRENT BOARD OF DIRECTORS THAT THE PREVIOUS BOARD TREASURER HAD DIVERTED A SIGNIFICANT AMOUNT OF CASH FROM THE ORGANIZATION OVER A PERIOD OF SEVERAL YEARS. UPON REALIZATION OF THE THEFT, THE BOARD OF DIRECTORS ENGAGED A CPA FIRM TO PERFORM AN AGREED UPON PROCEDURES ENGAGEMENT TO REVIEW SEVEN YEARS WORTH OF FINANCIAL HISTORY, TO ASSIST IN PREPARING A FIDELITY BOND INSURANCE CLAIM TO REPORT THE LOSS. AS A RESULT OF THE PROCEDURES PERFORMED UNDER THE ENGAGEMENT, THE POTENTIAL THEFT LOSS INCURRED FROM MARCH 1, 2007 THROUGH AUGUST 31, 2014 WAS DETERMINED TO BE $954,411; THE AGREED UPON PROCEDURES REPORT WAS SUBMITTED WITH A FIDELITY BOND INSURANCE CLAIM TO THE ORGANIZATION'S INSURANCE COMPANY (FEDERAL INSURANCE COMPANY), AS WELL AS THE FBI. AS A RESULT OF FEDERAL INSURANCE COMPANY'S REVIEW OF THE SUBMITTED CLAIM, THE ORGANIZATION WAS AWARDED $500,000 OF PROCEEDS (THE FULL AMOUNT OF FIDELITY BOND COVERAGE UNDER THE ORGANIZATION'S POLICY). THE $500,000 OF PROCEEDS WAS COLLECTED BY THE ORGANIZATION (REFLECTED IN MISCELLANEOUS INCOME IN PART VIII OF FORM 990) AND IS BEING EXPENDED AS DIRECTED BY THE ORGANIZATION'S CURRENT BOARD OF DIRECTORS TOWARDS CRITICAL BUILDING REPAIRS AND NECESSARY CAPITAL IMPROVEMENTS TO THE AMES CHI OMEGA ALUMNAE ASSOCIATION CHAPTER HOUSE. AS OF JUNE 30, 2015, THE PRIOR BOARD TREASURER RESPONSIBLE FOR THE THEFT WAS UNDER INVESTIGATION BY THE FBI AND THE PROCEEDINGS RELATED TO THE ASSOCIATED CHARGES AGAINST HER HAD NOT BEEN FINALIZED. |
| FORM 990, PART VI, SECTION B, LINE 11 | PRIOR TO FILING FORM 990, A COPY IS PROVIDED TO THE BOARD OF DIRECTORS FOR REVIEW AND APPROVAL. |
| FORM 990, PART VI, SECTION C, LINE 19 | THE ORGANIZATION'S GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. |