Re: LPSF Form 460s

Me too. Thanks for the update, Greg.

I’m guessing that the $100 in the “member share” (savings) account is there because the credit union had (has?) a requirement to maintain a minimum savings account balance in order to qualify for a free (no monthly fee) checking account. Probably it was set up for that purpose and subsequently forgotten about.

Copying the LPSF-Activists thread on this message for transparency purposes.

Love & Liberty,

((( starchild )))


On Jan 27, 2021, at 4:51 PM, Richard Fast wrote:

Looks good to me.

On Wed, Jan 27, 2021 at 6:47 PM wrote:
Hi LPSF team,

We need to file our semi-annual form 460 by the end of this month. The draft is attached. Please respond with any edits or questions by Friday, January 29, 2021.

I would also like to file the attached amended form 460 covering the period January 1, 2020 through June 30, 2020. Now that I have access to the credit union bank account, I was able to confirm our starting balance for the year 2020, which was $100 off what was stated on our earlier form 460. We can fix this by filing an amended form. It appears that the “missing” $100 is sitting in a “member share” (savings?) account with our credit union. I’m not sure how long this $100 was left off of our form 460s, but now that we know about it we should include it going forward.

As of January 1, 2021, LPSF has a total of $10,707.77 in its accounts (SF Federal Credit Union; PayPal; and Stripe). As of January 1, 2021, LPSF also owed/owes reimbursements to: (1) Starchild in the amount $542.88 (for mailbox and MeetUp); and (2) Nick Smith in the amount $84 (for webhosting). I just sent Nick Smith $42 via PayPal, so he is currently owed only $42 for webhosting costs from July through December 2020. The credit union is sending checks to our “new” mailbox within the next couple weeks. I can issue reimbursement checks thereafter.

Thank you,

Greg Michael

LPSF Treasurer