[TheForge] Saving ABANA

[gblacksmith]

Folks:  This is an interesting sidebar.  Under the IRS rules for 501 C 3
corporations, financial statements are not only required, but they must also
be made public to anyone wishing to view them.  This requirement exists
because of the need for disclosure to potential donors.  If memory serves me
correctly, there is a further requirement that financials for the preceding
three years be available.  I am not sure that this makes for a de-facto
requirement for an audit, but without one, how can the financials be
certified as accurate....a rhetorical question, perhaps. However, this does
not alter the fact that external audits are considered a standard business
practice.  Grant


----- Original Message ----- 
From: "Phlip" <phlip at 99main.com>
To: "Sponsored by ABANA" <theforge at mailman.qth.net>
Sent: Saturday, May 22, 2004 4:51 PM
Subject: Re: [TheForge] Saving ABANA


>
> Ene bichizh ogsen baina shuu...
>
> > Art For An Audit
> >     How many times have others requested, even board members, audits of
> ABANA from its beginning to present only to have the request ignored.
Since
> Will Hightower has stated on theforge that a complete audit would cost
more
> money that ABANA has why not donate art work to the 2004 ABANA Conference
> Auction and have the proceeds go toward such an audit. It could be called
> >                     Art For ABANA Audit.
> >                                         Mindy Gardner
>
> Actually, that sounds like one of the first reasonable suggestions I've
> heard, if y'all really want to save and straighten out the organization. I
> haven't been interested in joining, simply because I'm not interested in
> getting in the middle of a bunch of he said-she said- they said bullshit.
I
> wasn't there, I don't know, and frankly I don't care.
>
> So, Will, since you brought up the expense of a full audit, how much would
> one cost? It would help considerably if there were a financial goal to
> strive for. And, how much would it cost to set up an escrow account, for
the
> monies to be collected in?
>
> Saint Phlip,
> CoDoLDS
>
> "When in doubt, heat it up and hit it with a hammer."
>  Blacksmith's credo.
>
>  If it walks like a duck, and quacks like a duck, it is probably not a
> cat.
>
> Never a horse that cain't be rode,
> And never a rider who cain't be throwed....
>
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