We recently obtained a copy of the most current IRS Form 990 filing for the Chamber of Commerce of Springdale, Arkansas for the year 2008.The return was signed by Perry Webb on October 13, 2009 after requesting an extension back in July.
It is certainly disheartening filers are not required to separate their actual income from the perks. I'm not a CPA or tax guru, but as an Average Joe I found a few interesting tidbits.
For example, Page 4, 28b asks: During the tax year, did any person who is a current or former officer, director or trustee, or key employee have a family member who had a direct or indirect business relationship with the organization. They answered no. The form lists Webb as an officer and we already know not only was his daughter a paid employee, but she and her husband were also being paid for landscaping. Is that not a business relationship?
Page 10 lists total travel expenses for the year as $14,631. [cough]
Page 10 also lists $0 spent for conferences, conventions and meetings. If it wasn't travel and it wasn't a meeting, conference or convention what exactly was Webb's purpose in Florida and Colorado in 2008?
Maybe his trips were included in the $563,969.00 listed as "activities" or the $282,647 for "other".