TY 2017 Form 990 Schedule O

efile Public Visual Render ObjectId: 201901359349205325 - Submission: 2019-05-15 TIN: 72-0947655

SCHEDULE O
(Form 990 or 990-EZ)

Department of the Treasury
Internal Revenue Service

Supplemental Information to Form 990 or 990-EZ

Complete to provide information for responses to specific questions on
Form 990 or 990-EZ or to provide any additional information.
MediumBullet

Attach to Form 990 or 990-EZ.
MediumBullet

Go to www.irs.gov/Form990 for the latest information.

OMB No. 1545-0047

2017

Open to Public
Inspection

Name of the organization

FRATERNAL ORDER OF POLICE ST CHARLES
LODGE NO 15 INC

Employer identification number

72-0947655

Return Reference	Explanation
FORM 990-EZ, PART I, LINE 4 - OTHER INVESTMENT INCOME	DESCRIPTION: INTEREST INCOME. AMOUNT: 5,499.
FORM 990-EZ, PART I, LINE 7 - SALES OF INVENTORY	INCOME: GROSS RECEIPTS: 3,110. RETURNS AND ALLOWANCES: 0. LESS COST OF GOODS SOLD: 8,024. GROSS PROFIT: -4,914. COST OF GOODS SOLD: INVENTORY AT BEGINNING OF YEAR: 0. MERCHANDISE PURCHASED: 0. COST OF LABOR: 0. MATERIALS AND SUPPLIES: 8,024. OTHER COSTS: 0. INVENTORY AT END OF YEAR: 0. COST OF GOODS SOLD: 8,024.
FORM 990-EZ, PART I, LINE 16 - OTHER EXPENSES	DESCRIPTION: INSURANCE. AMOUNT: 672. DESCRIPTION: PER CAPITA DUES. AMOUNT: 2,881. DESCRIPTION: MEETINGS AND CONVENTIONS. AMOUNT: 6,243. DESCRIPTION: MEMORIAL EXPENSES. AMOUNT: 3,252. DESCRIPTION: DONATIONS. AMOUNT: 3,175. DESCRIPTION: MISCELLANEOUS. AMOUNT: 209. TOTAL TO FORM 990-EZ, LINE 16: 16,432.
FORM 990-EZ, PART I, LINE 5	GAIN/LOSS ON SALE OF ASSET: ON FEBRUARY 7, 2013, THE ST CHARLES FRATERNAL ORDER OF POLICE SOLD ITS BUILDING AND LAND TO PURPOSE LIFE CHRISTIAN FELLOWSHIP IN A BOND FOR DEED CONTRACT SALE. THE INSTALLMENT SALE METHOD WAS USED TO CALCULATE THE GAIN RECOGNIZED FOR THE PRIOR YEAR AND ALL FUTURE YEARS IN WHICH PAYMENTS WILL BE RECEIVED BY THE FOP. A FINAL LUMP SUM BALLOON PAYMENT IS DUE TO BE RECEIVED AT A FUTURE DATE. THE TERM OF THE LOAN IS 36 MONTHS AT 3.5% INTEREST PER YEAR. THE FOLLOWING ARE CACLULATED AMOUNTS, REGARDING THE BOND FOR SALE CONTRACT: TOTAL SALES PRICE $185,000 ADJUSTED BASIS OF BUILDING/LAND $50,983 TOTAL GAIN ON THE SALE $134,017 GROSS PROFIT PERCENTAGE $134,017/$185,000=.724416 MONTHLY PAYMENTS RECEIVED $1,000/MONTH GAIN RECOGNIZED IN THE CURRENT YEAR $0 DEFERRED GAIN $134,017 RECOGNIZED GAIN FYE 6/30/13 ($8,669.02) RECOGNIZED GAIN FYE 6/30/14 ($4,357.57) RECOGNIZED GAIN FYE 6/30/15 ($4,531.19) RECOGNIZED GAIN FYE 6/30/16 ($2,019.35) RECOGNIZED GAIN FYW 6/30/17 ($0) RECOGNIZED GAIN FYE 6/30/18 ($3,000.12) REMAINING DEFERRED GAIN = $111,421.74 TOTAL INTEREST INCOME ON MONTHLY INSTALLMENTS $28,164.01
FORM 990-EZ, PART II, LINE 24 - OTHER ASSETS	DESCRIPTION: INSTALLMENT SALE RECEIVABLE. BEG. OF YEAR AMOUNT: 157,950. END OF YEAR AMOUNT: 153,809.
FORM 990-EZ, PART II, LINE 26 - OTHER LIABILITIES	DESCRIPTION: DEFERRED GAIN ON SALE OF ASSET. BEG. OF YEAR AMOUNT: 114,422. END OF YEAR AMOUNT: 111,421.

Return Reference

Explanation

FORM 990-EZ, PART I, LINE 4 - OTHER INVESTMENT INCOME

DESCRIPTION: INTEREST INCOME. AMOUNT: 5,499.

FORM 990-EZ, PART I, LINE 7 - SALES OF INVENTORY

INCOME: GROSS RECEIPTS: 3,110. RETURNS AND ALLOWANCES: 0. LESS COST OF GOODS SOLD: 8,024. GROSS PROFIT: -4,914. COST OF GOODS SOLD: INVENTORY AT BEGINNING OF YEAR: 0. MERCHANDISE PURCHASED: 0. COST OF LABOR: 0. MATERIALS AND SUPPLIES: 8,024. OTHER COSTS: 0. INVENTORY AT END OF YEAR: 0. COST OF GOODS SOLD: 8,024.

FORM 990-EZ, PART I, LINE 16 - OTHER EXPENSES

DESCRIPTION: INSURANCE. AMOUNT: 672. DESCRIPTION: PER CAPITA DUES. AMOUNT: 2,881. DESCRIPTION: MEETINGS AND CONVENTIONS. AMOUNT: 6,243. DESCRIPTION: MEMORIAL EXPENSES. AMOUNT: 3,252. DESCRIPTION: DONATIONS. AMOUNT: 3,175. DESCRIPTION: MISCELLANEOUS. AMOUNT: 209. TOTAL TO FORM 990-EZ, LINE 16: 16,432.

FORM 990-EZ, PART I, LINE 5

GAIN/LOSS ON SALE OF ASSET: ON FEBRUARY 7, 2013, THE ST CHARLES FRATERNAL ORDER OF POLICE SOLD ITS BUILDING AND LAND TO PURPOSE LIFE CHRISTIAN FELLOWSHIP IN A BOND FOR DEED CONTRACT SALE. THE INSTALLMENT SALE METHOD WAS USED TO CALCULATE THE GAIN RECOGNIZED FOR THE PRIOR YEAR AND ALL FUTURE YEARS IN WHICH PAYMENTS WILL BE RECEIVED BY THE FOP. A FINAL LUMP SUM BALLOON PAYMENT IS DUE TO BE RECEIVED AT A FUTURE DATE. THE TERM OF THE LOAN IS 36 MONTHS AT 3.5% INTEREST PER YEAR. THE FOLLOWING ARE CACLULATED AMOUNTS, REGARDING THE BOND FOR SALE CONTRACT: TOTAL SALES PRICE $185,000 ADJUSTED BASIS OF BUILDING/LAND $50,983 TOTAL GAIN ON THE SALE $134,017 GROSS PROFIT PERCENTAGE $134,017/$185,000=.724416 MONTHLY PAYMENTS RECEIVED $1,000/MONTH GAIN RECOGNIZED IN THE CURRENT YEAR $0 DEFERRED GAIN $134,017 RECOGNIZED GAIN FYE 6/30/13 ($8,669.02) RECOGNIZED GAIN FYE 6/30/14 ($4,357.57) RECOGNIZED GAIN FYE 6/30/15 ($4,531.19) RECOGNIZED GAIN FYE 6/30/16 ($2,019.35) RECOGNIZED GAIN FYW 6/30/17 ($0) RECOGNIZED GAIN FYE 6/30/18 ($3,000.12) REMAINING DEFERRED GAIN = $111,421.74 TOTAL INTEREST INCOME ON MONTHLY INSTALLMENTS $28,164.01

FORM 990-EZ, PART II, LINE 24 - OTHER ASSETS

DESCRIPTION: INSTALLMENT SALE RECEIVABLE. BEG. OF YEAR AMOUNT: 157,950. END OF YEAR AMOUNT: 153,809.

FORM 990-EZ, PART II, LINE 26 - OTHER LIABILITIES

DESCRIPTION: DEFERRED GAIN ON SALE OF ASSET. BEG. OF YEAR AMOUNT: 114,422. END OF YEAR AMOUNT: 111,421.

For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.

Cat. No. 51056K

Schedule O (Form 990 or 990-EZ) 2017

Software ID:
Software Version: