> And now I read about IRS reporting irregularities regarding the CAT
parts
> department...Wow!
Whoa! Mr. C!
I love your enthusiasm, but I never said that.
The California Nonprofit Corporations Code requires mutual-benefit
companies with more than $20,000 in revenues to either publish their
annual financial statements (Income Statement, Balance Sheet, and
Statement of Changes in Financial Position), or notify members of their
right to receive a copy of the financial statements.
This is supposed to happen within a specified period of time, 90 or 120
days, after the close of the fiscal year--December 31st for C.A.T. If
they have the tax consultants prepare the statements with their tax
returns, then the May newsletter would be the time for C.A.T. to publish
either the statements or the notification of their availability.
I think it was after the August newsletter was published that I called
Rick Mueller, last year's Treasurer, and asked about the financial
statements. He told me that there had been some problem with the parts
department records, and that C.A.T. had filed for state and federal tax
extensions in April. As soon as they got the taxes filed, they'd
publish the financial statements.
Not exactly an "IRS reporting irregularity" but definitely strange.
Especially since it was a pack of lies about imaginary problems with the
parts business that a deviously stupid self-serving Board of Directors
used to render C.A.T. effectively dysfunctional as a club some time ago.
Ramon
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