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It outlines the process of deriving a pricing strategy first, then monitoring the profit implications of the pricing decisions made. Should we offer the service member the option of reimbursement? As noted in the FAQs above, the SCRA requires that the interest rate be reduced as of the date of active duty, that interest in excess of 6 percent be forgiven, and that the periodic payment be adjusted.
If the interest rate reduction is delayed until after the period of active duty begins, the servicemember is entitled to be reimbursed for the excess interest paid during that delayed period. The SCRA does not require a specific method for reimbursing the excess interest, and does not prohibit a creditor from providing it to the servicemember as a cash refund or timely applying it to current or future monthly payments.
However, as also noted, the SCRA prohibits accelerating principal. Therefore, applying the reimbursement to the principal balance of the loan is permitted only if the servicemember chooses that method after being offered other options. If you know that a customer has been deployed and you contact the customer to ask him or her to get the required paperwork from the military and the customer fails to do so, do you have to lower the rate and reduce payments?
Section of the SCRA requires the service member to provide written notice and a copy of the orders calling the service member to active duty in order for a loan to be subject to the interest rate limitations. When a spouse is on active duty and the insurance on the collateral, be it a home or a car, has been canceled, can collateral-placed insurance CPI be put on the loan?
With the general public, when CPI is put on vehicles, the payment does go up, so the loan will mature correctly and it is mentioned in the disclosures at loan signing. When a mortgage has insurance added, it increases only the principal balance of the loan. Is this allowed on service member loans? As noted in question 5, bona fide insurance is excluded from the 6 percent cap because the SCRA does not define it as interest.
With respect to this insurance and the practice you describe, other federal or state laws may apply. What if a bank offers a credit card through a third party? Does the bank have to reduce the interest rate on those accounts? The obligation to reduce the interest rate and payments under section of the SCRA rests with the creditor. If the financial institution is the creditor, it is responsible for ensuring that the third party reduces the interest rate and payment. If, for example, a borrower with a loan voluntarily joins the army, but his or her income does not decrease, do the rate reductions under the SCRA apply?
The rate reductions under section of the SCRA apply unless a court grants the creditor relief. Does it matter if the loan is for business purposes? In other words, should the bank send the notice to any individual homeowner with a mortgage on a single-family residence regardless of lien status or purpose? PCS orders occur when the military orders service members to relocate to a new duty station or base. Under 10 U. We sometimes have difficulty determining what constitutes active duty, and the definition in the SCRA and other laws are vague.
Until recently, we relied on HUD Letter , which referred to a website and fax and phone numbers to verify military service. Can you provide us with solid guidance on how we can determine active duty status? Could you state again the name of the law that recently amended the SCRA? Do you have the bill number or Public Law number? Enter the total fair market value FMV of corporate stocks you hold. Submit an itemized list of your corporate stock holdings.
For stock of closely held corporations, the statement should show the name of the corporation, a brief summary of the corporation's capital structure, the number of shares held, and their value as carried on your books. For stock traded on an organized exchange or in substantial quantities over the counter, the statement should show the name of the corporation, a description of the stock and the principal exchange on which it is traded, the number of shares held, and their value as carried on your books and their fair market value.
Enter the total amount of loans personal and mortgage loans receivable. Submit an itemized list that shows each borrower's name, purpose of loan, repayment terms, interest rate, and original amount of loan. Report each loan separately, even if more than one loan was made to the same person. Enter the total book value of other investments. Include the total book value of government securities federal, state, and municipal , and buildings and equipment held for investment purposes. Enter the total book value of buildings and equipment not held for investment.
This includes facilities you own and equipment you use in conducting your exempt activities.
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Enter the total book value of any other category of assets not reported on lines 1 through 9. For example, you would include patents, copyrights, or other intangible assets. Submit an itemized list of each asset. Enter the total amount of accounts payable to suppliers and others, such as salaries payable, accrued payroll taxes, and interest payable. Enter the total unpaid portion of grants and contributions you have committed to pay to other organizations or individuals.
Submit an itemized list that shows each note separately, including the lender's name, purpose of loan, repayment terms, interest rate, and original amount. Enter the total amount of any other liabilities not reported on lines 12 through Submit an itemized list of these liabilities, including the amounts owed. Under fund accounting, an organization segregates its assets, liabilities, and net assets into separate funds according to restrictions on the use of certain assets.
Each fund is like a separate entity in that it has a self-balancing set of accounts showing assets, liabilities, equity fund balance , income, and expenses. If you answer "Yes," describe the change and explain what caused it. Organizations that are exempt under section c 3 are private foundations unless they are:.
Churches, schools, hospitals, governmental units, entities that undertake testing for public safety, organizations that have broad financial support from the general public; or. Organizations that support one or more other organization s that are themselves classified as public charities.
Section c 3 organizations excepted from private foundation status are public charities. See the instructions for Part X, lines 5a through 5j for a more detailed description of public charities. Unless you meet one of the exceptions above, you are a private foundation and must answer, "Yes," on line 1a. These specific provisions require that you operate to avoid liability for excise taxes under sections d , , c , , and d. You can also meet these provisions by reliance on state law.
Also, see Appendix B for a list of states that have enacted statutory provisions that satisfy the requirements of section e , subject to notations. Appendix B is based on Rev. Some private foundations are private operating foundations. These are types of private foundations that lack general public support, but make qualifying distributions directly for the active conduct of their educational, charitable, and religious purposes.
Grants made to assist other organizations or individuals are normally considered indirect. If you have existed for one year or more, you must provide financial information that demonstrates you meet the requirements to be classified as a private operating foundation. If you have existed for less than one year, you must ordinarily provide an affidavit or opinion of counsel that sets forth facts concerning your operations and projected support to demonstrate that you are likely to satisfy the requirements to be classified as a private operating foundation.
Check this box if your primary purpose is operating a church or a convention or association of churches. The term "church" includes mosques, temples, synagogues, etc. If you select this box, complete and submit Schedule A. Check this box if your primary purpose is operating a school. If you select this box, complete and submit Schedule B.
However, you must still complete and submit Schedule B. Check this box if your primary purpose is providing medical or hospital care, or medical education or research performed in association with a hospital. If you select this box, complete and submit Schedule C. A hospital includes a rehabilitation institution, outpatient clinic, community mental health clinic, drug treatment center, or skilled nursing facility.
Check this box if you are organized and operated to support organizations described in lines 5a through 5c, 5f, 5h, or 5i, or an organization that is tax exempt under section c 4 , 5 , or 6. If you select this box, complete and submit Schedule D. The organization s you support should have a significant influence over your operations. Check this box if your primary purpose is to test products to determine their acceptability for use by the general public. Check this box if you are organized and operated exclusively to benefit a college or university owned or operated by a governmental unit.
You must also normally receive a substantial part of your support from a governmental unit or from contributions from the general public. Organizations that qualify under this category would generally also qualify under section a 3 , line 5d, which would be an easier public charity status to maintain. Check the box if you are an agricultural research organization described in section b 1 A ix operated in conjunction with a land grant college or university or a non-land grant college of agriculture. Attach to your application additional information detailing your agricultural research program and how contributions to such program will be spent.
This information should include the following. A description of how you are engaged in the continuous active conduct of agricultural research as defined in section of the Agricultural Research, Extension, and Teaching Policy Act of Information showing that you are operated in conjunction with a land grant college or university or a non-land grant college of agriculture as defined in section of the Agricultural Research, Extension, and Teaching Policy Act of Information discussing the timing of when you will spend contributions for research.
Check this box if you normally receive a substantial part of your support from grants from governmental units or from contributions from the general public, or a combination of these sources. Typically, a substantial part of your income would be shown on Part IX-A. Statement of Revenues and Expenses , lines 1 and 2. Facts and circumstances include 1 the amount of support you received from the general public, governmental units, or public charities; 2 whether you have a continuous and bona fide program for solicitation of funds from the general public, governmental units, or public charities; and 3 all other facts and circumstances, including the public nature of your governing board, the extent to which your facilities or programs are publicly available, the extent to which your dues encourage membership, and whether your activities are likely to appeal to persons having a broad common interest or purpose.
Check this box if you normally receive more than one-third of your support from contributions, membership fees, and gross receipts from activities related to your exempt functions, or a combination of these sources, and not more than one-third of your support from gross investment income and net unrelated business income. Statement of Revenues and Expenses, lines 1, 2, and 9.
Under this public charity status, you must meet both the "one-third public support test" and the "not-more-than-one-third investment income and net unrelated business income test". Before checking this box, consider the types of income you listed on Part IX-A.
Statement of Revenues and Expenses, lines 1 through Check this box if you are unsure whether you are better described in boxes 5h or 5i. By checking this box, you agree to let us choose the best public charity status for you. If you have been in existence for more than 5 years, and you checked box 5h, 5i, or 5j; then you must confirm your public support status.
This determination must be based on your public support computed on the cash method of accounting. Therefore, if you use the accrual method of accounting, please use a worksheet to convert your revenue accounts from the accrual to the cash basis. Supporting Organizations, Section A. All Supporting Organizations. From Part IX-A. Statement of Revenues and Expenses, add the line 8 amounts from completed tax years only. For each year amounts are included in lines 1, 2, and 9 of Part IX-A, attach a list showing the name and amount received from each disqualified person.
If no such amounts are included on lines 1, 2, and 9 of Part IX-A, state this on an attachment. The required list for this line should include the name of and amounts paid by each individual or organization included on line 9,Part IX-A. Your list for each payer must show a year-by-year breakdown of the amounts reported for completed tax years on Part IX-A.
Statement of Revenues and Expenses, line 9. If no such payments were made, state this on an attachment. Disqualified persons should be listed in line 6b i. For purposes of this application, a "disqualified person" is any individual or organization that is any of the following. An officer, director, trustee, or any other individual who has similar powers or responsibilities.
A member of the family of any individual described in 1, 2, 3, 4, or 5 above. A creator of a trust is treated as a substantial contributor regardless of the amount contributed. For more information regarding substantial contributors, go to IRS. A "member of the family" includes the spouse, ancestors, children, grandchildren, great-grandchildren, and their spouses.
For additional information concerning members of the family, go to IRS. Further information about disqualified persons, can be obtained at IRS. If you answer "Yes" to line 7, submit a statement for each grant. The statement should include the name of the contributor, the date and amount of the grant, a brief description of the grant, and an explanation of why it is unusual.
You should include details of any additional funds you expect to receive from the contributors listed. If they qualify for unusual grant treatment, these amounts should be reported on Part IX-A. Statement of Revenues and Expenses, line Your user fee may be paid by a personal or certified check, bank check, or cashier's check. Your check should be made payable to the United States Treasury. For the current user fee amounts, go to www.
You can also call There is no single definition of the word "church" for tax purposes. When determining whether a section c 3 religious organization is also a church, we will consider characteristics generally attributed to churches and the facts and circumstances of each organization applying for public charity status as a church. A church includes mosques, temples, synagogues, and other forms of religious organizations. For more information, see Pub. The practices and rituals associated with your religious beliefs or creed must not be illegal or contrary to clearly defined public policy.
Provide a copy of your written creed, statement of faith, or summary of beliefs. A "form of worship" refers to religious practices that express your devotion to your creed, faith, or beliefs. A "code of doctrine and discipline" refers to a body of laws or rules that govern behavior. Your "religious history" includes the story of your establishment and major events in your past. Your literature includes any writings about your beliefs, rules, or history. A "religious hierarchy or ecclesiastical government" refers to people or institutions that exercise significant influence or authority over you.
Indicate the regular days and times of your religious services. Describe the order of events during your regular worship service and explain how the activities conducted as part of your services further your religious purposes.
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Also include sample copies of church bulletins, pamphlets, or flyers that are distributed to your members or the general public. Enter on the space provided, the average number of members and non-members who attend your regularly scheduled religious services. An "established place of worship" is a place where you hold regularly scheduled religious services.
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It may be a place that you own, rent, or which is provided freely for your use. If you answer "Yes," go to line 5b. If you answer "No," describe where you meet to hold regularly scheduled religious services. An "established congregation" or "other religious membership group" includes individuals who regularly attend and take part in the religious services of your organization at an established location. You may request classification as a church at a later date after you establish a congregation or other religious membership group.
For information about this option, contact our customer account service representatives at toll-free. Enter the total number of your current members in the provided. If you have no members, enter zero. Answer "Yes" if you have a prescribed way to become a member. Answer "Yes" even if you just keep records of who is currently a member. Describe any actions required for individuals to become members.
Submit copies of any application forms used. Describe any rights and benefits of members. If your members may be associated with another denomination or church, describe the circumstances in which your members would be members of your church and another church. Answer "Yes" if you conduct baptisms, weddings, funerals, or other religious rites. A school for the religious instruction of the young refers to any regularly scheduled religious, educational activities for youth, such as "Sunday school. A "prescribed course of study" refers to formal or informal training. Describe the course of study completed by your religious leader.
Answer "Yes" if you are part of a group of churches with similar beliefs and structures, such as a convention, association, or union of churches. If you answer "Yes," submit a copy of your church charter. Identify the organization that issued the charter and describe the requirements you met to receive it. Attach any additional information you would like us to consider that would help us classify you as a church. The term "school" includes primary, secondary, preparatory, high schools, colleges, and universities.
Non-traditional schools such as an outdoor survival school or a yoga school may qualify. Answer "Yes" if you have a regularly scheduled curriculum, a regular faculty of qualified teachers, a regularly enrolled student body, and facilities where your educational activities are regularly carried on. Submit evidence establishing that you meet these factors, as described below. Evidence that you have a regularly scheduled curriculum includes a list of required courses of study, dates and times courses are offered, and other information about how to complete required courses.
Evidence that you have a regular faculty of qualified teachers includes certifications by the appropriate state authority or successful completion of required training. Evidence of a regularly enrolled student body includes records of regular attendance by students at your facility.
Evidence of a place where your exclusively educational activities are regularly carried on includes a lease agreement or deed for your facility. Answer "Yes" if your primary function is the presentation of formal instruction. Answer "Yes" if you are a public school. Submit documentation of your status as a public school. Answer "Yes" if you have a signed contract or agreement with a state or local government under which you operate and receive funding. Submit a signed and dated copy of your contract or agreement.
Enter the name of the public school district and county where you operate. Answer "Yes" if you were formed or substantially expanded during a period of time when public schools in your district or county were desegregated by court order. If you are unsure whether to answer "Yes," contact an appropriate public school official. Answer "Yes" if a state or federal administrative agency or judicial body ever determined your organization to be racially discriminatory.
Identify the parties involved and the forum in which the case was presented. Explain the reason for the action, the decision reached, and provide legal citations if any for the decision. Also, explain in detail any changes made in response to the action against your organization or the decision reached. In responding to this line, you may reference information previously provided in response to Part VIII, lines 7a, 7b, or 7c, along with any additional information to fully respond.
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Answer "Yes" if you manage or intend to manage your programs through your own employees or by using volunteers. Answer "No" if you engage or intend to engage a separate organization or independent contractor. In responding to this line, you may reference information previously provided in response to Part VIII, line 7a, 7b, or 7c, along with any additional information to fully respond. A section c 3 organization that is a school must publish a notice of its racially nondiscriminatory policy as to students as follows.
Every private school is subject to the provisions of Revenue Procedure , C. A private school must also certify annually that it meets the requirements of Rev. Answer "Yes" if your organizing document or bylaws contain a nondiscriminatory statement as to students similar to the one shown above. Your resolution should approve a nondiscriminatory policy similar to the one shown above. Answer "Yes" if your brochures, application forms, advertisements, and catalogues dealing with student admissions, programs, and scholarships contain a statement similar to the following.
If you answer "No," to line 2, but checked the box on line 2b, you are agreeing that all future printed materials, including Internet content, will contain a statement of nondiscriminatory policy as to students similar to the one provided above. You must demonstrate that you have made your nondiscriminatory policy known to all segments of the general community served by the school.
One way of meeting this requirement is to publish the school's nondiscriminatory policy annually. If you have already published your notice, submit the actual page of the newspaper on which the notice appears. A notice published in the legal notices section or classified advertisements of your local newspaper is generally not acceptable.
Enter the racial composition of your student body, faculty, and administrative staff in the spaces provided. Enter actual numbers, rather than percentages, for the current year and projected numbers for the next academic year. If the number is zero, then enter "0. If you are completing the table based on estimates, submit documentation that supports how you arrived at the estimated numbers.
For example, if your estimates are based on the racial composition of the community in which you operate, submit current census data of the racial composition for the area. If your numbers and the census numbers differ greatly, explain why. Enter the racial composition of students to whom you award loans and scholarships in the spaces provided. Submit a list that identifies each individual or organization by name. Your list must include your incorporators, founders, board members, donors of land, and donors of buildings. Answer "Yes" if any individuals or organizations on your list have an objective to keep public or private school education segregated by race.
Explain how these individuals or organizations promote segregation in public or private schools. Answer "Yes" if on a continuing basis, you will maintain for a minimum period of three years the following records. Evidence that your scholarships and loans are awarded on a racially nondiscriminatory basis similar to the information requested in Schedule B, Section II, line 6. Copies of all materials used by you or on your behalf to solicit contributions. Copies of brochures, application forms, advertisements, and catalogues dealing with student admissions, programs, and financial aid.
An organization is a "hospital" if its principal purpose or function is providing medical or hospital care or medical education or research. Medical care includes treatment of any physical or mental disability or condition, on an inpatient or outpatient basis.
Thus, if an organization is a rehabilitation institution, outpatient clinic, or community mental health or drug treatment center, it is a hospital if its principal function is providing treatment services as described above. An organization is a "medical research organization" if its principal purpose or function is the direct, continuous, and active conduct of medical research in conjunction with a hospital.
The hospital with which the organization is affiliated must be described in section c 3 , a federal hospital, or an instrumentality of a governmental unit, such as a municipal hospital. For more information, see Reg.
If you are a hospital, check the first box on Schedule C and complete Section I. If you are a medical research organization, check the second box on Schedule C and complete Section II. Answer "Yes" if all doctors in your community are eligible for staff privileges at your facility. You may answer "Yes" if staff privileges at your facility are limited by capacity.
If you answer "No," describe in detail how you limit eligibility for staff privileges at your facility. Include details of your eligibility criteria and selection procedures for your courtesy staff of doctors. Answer "Yes" if you admit all patients in your community who can pay for themselves or through private health insurance. Answer "No" if you limit admission for these individuals in any way. If you answer "No," describe your admission policy in detail. You should explain how and why you restrict patient admission. Answer "Yes" if you admit all patients in your community who participate in Medicare.
Answer "No" if you limit admission in any way for these individuals. You should explain how and why you restrict patient admission to exclude persons who participate in Medicare. Answer "Yes" if you admit all patients in your community who participate in Medicaid.
You should explain how and why you restrict patient admission to exclude persons who participate in Medicaid. If you answer "Yes," describe in detail how you determined the amount required and explain why a deposit is needed. If you answer "No," describe the differences in detail. Answer "Yes" if you offer emergency medical or hospital care at your facility on a hour basis, seven days a week.
For example, emergency care may be inappropriate for the type of services you provide. Also, describe any emergency services that you provide. Answer "Yes" if you have a specific written plan or policy to accept all patients in need of emergency care without considering their ability to pay. Answer "Yes" if you have specific arrangements with any police, fire, or ambulance service providers to bring emergency cases to your facility. If you answer "Yes," describe each specific agreement.
For written agreements, you may submit a copy of each agreement. If it is oral, explain fully the agreement. For any oral agreements, include details of how and when the agreement was arranged. Answer "Yes" if you provide free or low cost medical or hospital care services to the poor.
If you answer "Yes," answer lines 5b through 5e. Explain how you distinguish between charity care and bad debts. Include details of how you inform the general public about your policy. Submit information that shows the amounts you spend for treating charity care patients and the types of services you provide.
Include an explanation that distinguishes charity care patient expenditures from uncollected bad debts. Submit copies of any written agreements you have with municipalities or government agencies to subsidize the cost of admitting or treating charity patients. A sliding fee scale establishes payments depending on financial ability to pay. Answer "Yes" if you have a formal program of medical training and research. If you answer "Yes," describe your program in detail, including its length and criteria for acceptance into your program.
Answer "Yes" if you have a formal program of community educational programs. If you answer "Yes," describe your program in detail. Answer "Yes" if you provide office space to physicians conducting their own medical practices. Answer "Yes" if you have a board of directors that is representative of the community you serve. Include a list of each board member with the individual's name and employment affiliation. Also, for each board member, describe how that individual represents the community. Answer "Yes" if an organization described in section c 3 with a community board exercises rights or powers over you, such as the right to appoint members to your governing board of directors and the power to approve certain transactions.
Describe these rights and powers. In addition, describe how each of that organization's board of directors represents the community. Answer "Yes" if you are subject to a state corporate practice of medicine law that requires your governing board to be composed solely of physicians licensed to practice medicine in the state. If you answer "Yes" on this basis, also provide the following information.
Describe whether a hospital described in section c 3 exercises any rights or powers over you. Identify the corporate practice of medicine law under which you operate. Explain how the section c 3 hospital exercises any rights or powers over you, such as the right to appoint members to your governing board of directors and the right to approve certain transactions. Explain what services you provide to the section c 3 hospital. Recruitment incentives may be offered to attract or retain physicians as employees or to serve the community in which the hospital is located. Such incentives are generally offered when there is an acute shortage of such physicians in your hospital or within the community.
Physicians who have a financial or professional relationship with you include physicians with whom you have a business relationship, such as employees, staff physicians, participants in joint ventures, or physicians with whom you contract for services. A business relationship includes employment, contractual relationship, or status as a member of your board of directors. Answer "Yes" if you have adopted a conflict of interest policy consistent with the sample conflict of interest policy provided in these instructions or you are subject to similar conflict of interest policies under state law.
Provide copies of the policies to which you are subject. An example of a substantive conflict of interest policy is available in Appendix A in these instructions. The sample conflict of interest policy does not prescribe any specific requirements. Attach a list of hospitals with which you have relationships relating to the conduct of medical research.
Describe in detail the relationship you have with each hospital. Submit copies of any written agreements. Describe in detail all activities that directly accomplish your conduct of medical research. Your schedule should explain how you determine the fair market value of your assets. A section a 3 organization is commonly referred to as a "supporting organization.
An organization qualifies for public charity status as a supporting organization under section a 3 if:. It is organized and at all times thereafter is operated exclusively for the benefit of, to perform the functions of, or to carry out the purposes of one or more public charities described in section a 1 or a 2 ;.
A supporting organization can also support the charitable purposes of organizations that are exempt under sections c 4 , 5 , or 6. Answer "Yes" if each supported organization has received a letter from the IRS recognizing it as a public charity under section a 1 or a 2. Then, go to Section II, line 1. Then, go to line 3. Answer "Yes" if any supported organization you listed in line 1 received a letter from us stating that it is exempt under section c 4 , 5 , or 6. Also, to show how the organization meets the public support test, submit the amounts and sources of revenue for the last four completed tax years for the supported organization s.
You should provide the requested financial data in the format shown on Part IX-A. Statement of Revenues and Expenses , for each supported organization. You must then submit the lists requested by Part X, line 6b ii , which is applicable to the public support test under section a 2. Answer "No" if no supported organization listed in line 1 has been recognized as tax-exempt under section c 4 , 5 , or 6. For example, if you support a church or foreign organization, you should describe how this organization qualifies as a public charity under section a 1 or a 2.
To qualify under section a 3 , you must show that you meet one of three relationship tests with the supported organization s ;. Test 2. Supervised or controlled in connection with comparable to a brother-sister relationship ; or. Test 3. Operated in connection with responsive to the needs or demands of, and having significant involvement in the affairs of, the supported organization s.
Answer "Yes" if your governing document, bylaws, or other internal rules and regulations show that the majority of your governing board or officers is elected or appointed by the supported organization s. Then, go to Section III. Answer "Yes" if your governing document, bylaws, or other internal rules and regulations show that a majority of your governing board consists of individuals who also serve on the governing board of the supported organization s. Answer "Yes" if you are a charitable trust under state law, you name each specified publicly supported organization as a beneficiary in your trust agreement, and each beneficiary organization has the power to enforce the trust and compel an accounting under state law.
Then go to Section II, line 5. Answer "Yes" if the officers, directors, trustees, or members of the supported organization s elect or appoint any of your officers, directors, or trustees. Then go to line 4d. Answer "Yes" if any members of the governing body of the supported organization s also serve as your officers, directors, trustees, or hold another important office for your organization.
Describe the position held and whether the position is ongoing. Answer "Yes" if your officers, directors, or trustees maintain a close and continuous working relationship with the officers, directors, or trustees of the supported organization s. Explain the continuous relationship in detail.