JoomlaLeaks

Leaks, Drips, and Spills

Wednesday, 05 December 2012 00:00

Silly Season

In Australia, New Zealand, and South Africa, the silly season has come to refer to the Christmas/New Year festive period on account of the higher than usual number of social engagements where the consumption of alcohol is typical, which are in the Southern Hemisphere summer.

 
Wikipedia

I first heard this phrase from Andrew Eddie. It seemed highly appropriate for the period after Thanksgiving and continuing on through  New Year's day that is certainly full of people acting out and doing silly foolish things.

Also according to this same Wikipedia article:

 In the United States, this phrase refers to the period lasting for a few summer months typified by the emergence of frivolous news stories in the media - the slow news season.

So, how does this connect with Open Source Matters, Inc.?

Published in Joomla
Wednesday, 14 December 2011 09:13

Maybe OSM Is Just Confused?

Today (December 14, 2011), the New York Charities Bureau published the Open Source Matters 2010 tax filings on their website. OSM filed both a CHAR500 and an IRS 990. The date these were received by the New York Attorney General's Charities Bureau was November 15, 2011. In the November 15, 2011 board meeting minutes:

a. CHAR500 (Ryan)
Ryan confirms that our 2010 CHAR500 NY filing has been submitted on time.

Yet, according to the New York Charities Bureau FAQs:

Q: When are Annual Filings due?

A: Filing due dates depend on an organization's registration type (see following question for more information on registration types). Article 7-A and Dual registrants are required to file within 4.5 months after the end of their fiscal year. EPTL registrants are required to file within 6 months after the end of their fiscal year.
Published in Joomla
Tuesday, 01 November 2011 14:13

Breaking OSM Financial News!

For the second time this calendar and fiscal year, OSM has released most of the financial reports originally promised to be released monthly.  If my math is correct (and it should be as it is a simple calculation of 2 divided by 10), then OSM has achieved its commitment 20% of the time so far this year. And if they do it 2 more times they will hit a 33% compliance rate. I wouldn't bet on even that poor of a record given their history  in the last couple of years. Truth be told, this is the first time this year we have been privileged to see the monthly budget versus actual figures.

So, what stands out in a quick review?

Published in Joomla

I must have missed the Open Source Matters, Inc. publication of the 2010 Federal Corporate Tax Return (Form 1120) and the New York State CHAR500 return. And, depending on the contents of the CHAR500 return, maybe even a Form 990. Oh no I didn't, I just checked here on the OSM Federal Filings page and there are no links to the 1120 nor are there any filed CHAR500 in the New York State charities database. That's interesting!

Let's see, OSM, last I checked, operates on a calender year fiscal year. So that means they must file the 1120 by the 15th day of the third month after the end of their tax year. Hmm, that would make it due on March 15. A review of the available published OSM minutes (only published through July, 2011 as of this date) shows that in the March 2011 minutes, an automatic extension of 6 months was requested (note that it was not specific that this was just a Federal extension. There isn't a 6 month extension available in New York). Nothing wrong with that. Gives the accountants time to review and correct the books. But, wait a minute. That would make the the date the Federal taxes had to be filed by as September 15, 2011. So, supposedly the taxes forms have been filed but just like the other missing financial reports there hasn't been any publication of this information to the Joomla Community. I could be wrong, of course. Would love to see some communication from OSM about these issues. Nothing anywhere so far though.

Published in Joomla