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<body class='hmmessage'><div dir='ltr'>the problem with opacity is how contagious it is .. <div><br></div><div><br></div><div>case in point .. The Mendocino Art Center .. through 2013, its policies included a board of directors review </div><div><br></div><div><br></div><div>for Form 990s .. but not anymore .. as of 2014, its policy for the Form 990 is this:</div><div><br></div><div><br></div><div> 'The 990 is reviewed by the Executive Director and the board Treasurer before it is filed. The Executive </div><div><br></div><div><br></div><div> Director will present the annual return to the board at the meeting immediately following the filing of </div><div><br></div><div><br></div><div> the return and will discuss any questions or issues that may come up as a result. It is not anticipated </div><div><br></div><div><br></div><div> that any issues that do come up for discussion will result in changes to the return requiring filing amended </div><div><br></div><div><br></div><div> filing amended annual returns.'</div><div><br></div><div><br></div><div>which is fine unless there's an issue .. like there was in 2014 .. and 2013 .. </div><div><br></div><div><br></div><div><a href="http://990s.foundationcenter.org/990_pdf_archive/946/946050398/946050398_201412_990.pdf" target="_blank">http://990s.foundationcenter.org/990_pdf_archive/946/946050398/946050398_201412_990.pdf</a></div><div><br></div><div><br></div><div><a href="http://990s.foundationcenter.org/990_pdf_archive/946/946050398/946050398_201312_990.pdf" target="_blank">http://990s.foundationcenter.org/990_pdf_archive/946/946050398/946050398_201312_990.pdf</a></div><div><br></div><div><br></div><div>look at the $47,000 'loan payable' on the balance sheet, page 11 .. and how it requires a little more info .. </div><div><br></div><div><br></div><div>like the details of 'Loans to and/or From Interested Persons' .. including names .. and notice how that form </div><div><br></div><div><br></div><div>(i.e., Schedule L) is missing from both filings .. POOF! .. forty-seven grand goes bye-bye .. </div><div><br></div><div><br></div><div>there's more if you'd like to hear it .. but I don't want to impose .. </div><div><br></div><div><br></div><div><br></div><div><br></div><div><br></div><div><br></div><div><br></div><div><br></div><div><br></div><div><br></div><div><br></div><div><br></div><div><br></div><div><br></div><div><br></div><div><br></div><div><br></div><div><br></div><div><br></div><div><br></div><div><br></div><div><br></div><div><br></div><div><br></div> </div></body>
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