Update from Executive Committee
Alan Gleason was arrested in Hobbs on charges of alleged embezzlement on October 11 th, and after spending eight days in jail, had a court appearance on October 19 th. His trial was continued, since the District Attorney required more time to work through the extensive evidence.
Our forensic accounting consultant is now examining the evidence of alleged fraud and will assist us in filing a claim with our insurance company.
We are nearing the end of our examination of historical records from banks, and we continue to find further evidence of fraudulent activities, now totaling over $150,000.
Judy Blalack is nearly ready to file the past due IRS Form 990s (Federal Income Tax Returns for Non-profit Organizations) for 2004 and 2005, which will get SSA completely up to date with the IRS. No taxes will be due with these forms. We are awaiting word from the IRS regarding any interest or penalties that might be due on the payroll withholding taxes we have already submitted. The State of New Mexico has accepted our Managed Audit for the years 2002 and 2003, with no interest or penalties due.
The Emergency Business Plan Task Force’s analysis currently indicates a sustainable financial condition for the Society, with membership services being maintained at traditional levels. The task force will, however, continue to monitor the SSA's financial status closely, and if required in the future, make reductions in services to maintain solvency. Such reductions have not been necessary thus far.
The financial sustainability of the SSA is, however, predicated on your continued membership renewal and support.
C. Dianne Black-Nixon, Chairman of the Board
Jim Skydell, First Vice Chair
Doug Easton, Vice Chair
John Volkober, Vice Chair and Treasurer
Dean Carswell, Secretary