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
2020
Open to Public
Inspection
Name of the organization
BUCHANAN COUNTY AGRI-BUSINESS EXPO
CENTER INC
Employer identification number

26-1352588
Return Reference Explanation
FORM 990, PART III, LINE 3 THE BOARD OF DIRECTORS REACHED THE CONCLUSION IN THE SUMMER OF 2020 THAT IT COULD NOT GENERATE THE INTEREST OR RESOURCES TO DEVELOP THE AGRI BUSINESS CENTER AS DESCRIBED IN ITS MASTER PLAN AT THE CURRENT LOCATION. AS A RESULT, THE BOARD ANNOUNCED IN JULY 2020 THAT IT WAS IN THE PROCESS OF SELLING ALL OR A PORTION OF THE ORIGINAL SITE. THE SALE WAS CONCLUDED IN 2020 AND RETIRED ALL DEBT ON THE PROJECT. PLANS ARE BEING DEVELOPED TO POSSIBLY FIND AN ALTERNATIVE SITE.
FORM 990, PART VI, SECTION A, LINE 1 THE EXECUTIVE COMMITTEE CONSISTS OF THE CHAIRPERSON, VICE CHAIRPERSON, SECRETARY, TREASURER, AND ANY OTHER OFFICERS OF THE BOARD THAT ARE ALSO DIRECTORS. THE COMMITTEE IS RESPONSIBLE FOR POSSESSING AND EXERCISING ALL OF THE POWERS OF THE BOARD IN THE MANAGEMENT OF THE AFFAIRS OF THE CORPORATION BETWEEN THE FORMAL MEETINGS OF THE WHOLE BOARD OF DIRECTORS.
FORM 990, PART VI, SECTION B, LINE 11B AT THE BOARD OF DIRECTORS MEETING FOLLOWING FILING, THE FORM WILL BE REVIEWED WITH THE BOARD BY THE CHAIR OF THE FINANCE COMMITTEE.
FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY APPLIES TO DIRECTORS, OFFICERS AND STAFF MEMBERS; AS WELL AS THEIR CLOSE RELATIVES AND ENTITIES IN WHICH THEY HAVE AN INTEREST OR AUTHORITY. THE BOARD MEMBERS WITHOUT A POTENTIAL CONFLICT MAKE THE DETERMINATION AS TO WHETHER A POTENTIAL CONFLICT IS AN ACTUAL CONFLICT AND REVIEW ACTUAL CONFLICTS FOR APPROPRIATE ACTION. ANY INDIVIDUAL IN CONFLICT WILL RECUSE THEMSELVES FROM DISCUSSION AND VOTE ON THE MATTER IN CONFLICT. AT LEAST ANNUALLY ALL VOTING BOARD MEMBERS ARE REQUIRED TO SUBMIT A CONFLICT OF INTEREST ACKNOWLEDGEMENT AS WELL AS IS AGREES TO REPORT ANY POSSIBLE CONFLICTS THAT MIGHT ARISE THROUGHOUT THE YEAR.
FORM 990, PART VI, SECTION B, LINE 15 NO COMPENSATION IS PAID TO THE CEO, EXECUTIVE DIRECTOR OR TOP MANAGEMENT OFFICIAL. ALL ARE UNPAID VOLUNTEERS.
FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES IT'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC BY REQUEST.
FORM 990 PAGE 12, PART XII LINE 2C THE ORGANIZATION HAS NOT CHANGED ITS AUDIT PROCESS FROM PRIOR YEAR. THE ORGANIZATION'S FINANCIAL STATEMENTS ARE AUDITED BY AN INDEPENDENT ACCOUNTANT AS THEY WERE PRIOR YEAR. THE ORGANIZATION HAS A COMMITTEE THAT ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT, REVIEW, OR COMPILATION OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT.
For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.
Cat. No. 51056K
Schedule O (Form 990 or 990-EZ) 2020


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