[Winona] Shakespeare

[Kathy Seifert]

Thanks, Beth, for your technical expertise regarding non-profits! I 
appreciate you reiterating what I've said in terms of non-profit directors 
being more than cooperative with sharing any public financial data requested 
by the public (though photocopies of large documents may only be obtained 
for a fee that covers preparation of the copies).

Many organizations publish annual reports specifically to inform 
stakeholders and the public about the organizations' annual accomplishments 
and financial health. I know I usually receive one from Winona Health each 
year because I have made contributions to their foundation.

As I understand it, Form 990 is the IRS document that is filed to defend the 
non-profit status each year. It is quite detailed and must be accurate and 
meet IRS criteria in order for an organization to maintain non-profit 
status. Independent audits are performed each year for assuring proper 
accounting of funds within the organization. All of this makes it difficult 
to misuse charitable donations, but also causes the organization to incur 
costs associated with compliance. Unfortunately, this adds to the 
administrative cost of fulfilling the organization's mission--something that 
each non-profit seeks to minimize so that the majority of the dollars go 
directly toward providing services from which the public or community may 
benefit. It is a juggling act that balances service provision with 
accountability.

Again, I encourage anyone who wants to know about an organization's 
strategic plan or financial reports to please go directly to that 
organization before you make disparaging remarks about that organization's 
functioning or imply that it is intentionally hiding information from the 
public. That goes for governmental units (City, County, School District), 
too. :)! We all can form better opinions when we have accurate facts.

Kathy Seifert
----- Original Message ----- 
From: <bfmoe at hbci.com>
To: <jturek at hbci.com>
Cc: "winona forum winona forum" <winona at mnforum.org>
Sent: Thursday, June 22, 2006 11:48 AM
Subject: Re: [Winona] Shakespeare


> [Winona Online Democracy]
>
> Janice and all,
>
> I checked both the Attorney General's site and GuideStar. The information 
> looks
> as complete as any other organization on each site. GuideStar uses an 
> optical
> scan of the actual Form 990; the AG pulls some (but not all) of that
> information.
>
> Advertising expenses are all listed on the Form 990.
>
> It's not unusual that the 2005 information would not appear yet. The 990 
> does
> not have to be filed with the IRS until "the 15th day of the 5th month" 
> after
> the organization's year-end (whether it's a calendar year or a fiscal year
> starting on some other date). Up to 2, 90-day extensions can also be 
> filed,
> which is not an unusual circumstance in the non-profit world. Beyond that, 
> it
> takes about 2 months to have a 990 posted on GuideStar (according to their 
> own
> information). Not sure how quickly the AG gets information posted.
>
> Any member of the public can ask an organization to see a copy of their 
> 990. You
> can certainly call the Shakespeare Festival (or any other non-profit, for 
> that
> matter) and ask to see a copy.
>
> Hope that helps.
>
> Beth Moe