[Kzyxtalk] KZYX's Contagious Opacity

[Scott Peterson]

the problem with opacity is how contagious it is .. 

case in point .. The Mendocino Art Center .. through 2013, its policies included a board of directors review 

for Form 990s .. but not anymore .. as of 2014, its policy for the Form 990 is this:

    'The 990 is reviewed by the Executive Director and the board Treasurer before it is filed. The Executive 

    Director will present the annual return to the board at the meeting immediately following the filing of 

    the return and will discuss any questions or issues that may come up as a result. It is not anticipated 

    that any issues that do come up for discussion will result in changes to the return requiring filing amended 

    filing amended annual returns.'

which is fine unless there's an issue .. like there was in 2014 .. and 2013 .. 

http://990s.foundationcenter.org/990_pdf_archive/946/946050398/946050398_201412_990.pdf

http://990s.foundationcenter.org/990_pdf_archive/946/946050398/946050398_201312_990.pdf

look at the $47,000 'loan payable' on the balance sheet, page 11 .. and how it requires a little more info .. 

like the details of 'Loans to and/or From Interested Persons' .. including names .. and notice how that form 

(i.e., Schedule L) is missing from both filings .. POOF! .. forty-seven grand goes bye-bye .. 

there's more if you'd like to hear it .. but I don't want to impose .. 























 		 	   		  
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