Agenda Board of Directors Meeting

June 26, 2020 Telephonic/Video Meeting

2:00 P.M. Central Time

1. Call to Order 2. Welcome 3. Roll Call and Determination of Quorum 4. Approval of Agenda 5. President’s Remarks 6. Banking Signatory Resolution 7. TXSEA Strategic Objectives 8. Treasurer’s Report – Irmarie Mercado, EA 9. 2020 Convention Feedback & 2021 Convention Update 10. Dissolution of the Education Foundation 11. Modifications to Awards 12. GoToWebinar for use by the Chapters 13. Establishment of Committees

a. Government Relations b. Education c. Communications/PR d. Membership e. Election Committee

14. Consent Agenda a. President’s Report b. Past President’s Report c. Vice-Presidents’ Reports d. Committee Reports

i. Government Relations ii. Education iii. Membership

e. Chapter Reports i. DFW ii. Greater Houston iii. Jalapeno (San Antonio) iv. North Texas

15. Good of the Order 16. Announcements

a. Audience Announcements b. Next Board Meetings (Tentative)

i. Tuesday October 20, 2020: 10:00 AM Central Time - TELEPHONIC ii. Tuesday January 5, 2021: 10:00 AM Central Time - TELEPHONIC iii. Tuesday April 20, 2021: 10:00 AM Central Time - TELEPHONIC iv. Sunday June 27, 2021: 10:00 AM Central Time – To be discussed

1. In Person after Convention 17. Adjourn

Minutes Board of Directors Meeting

Executive Session June 30, 2019

9:00 A.M. Central Time

1. Added TxSea Convention Call to Order – 9:00 am 2. Welcome 3. Roll Call and Determination of Quorum

President - Timothy W. Adams, EA - Present First Vice-President Sean M. Monohan, EA, USTCP, CFP – Present Second Vice-President - Teresa Coleman, EA - Present Secretary Sandra "Sandi" King-Brauer, EA - Present Treasurer Irmarie Delgado, EA, CPA - Present Director (2018-2020) Priscilla G. "Pat" Debord, EA - Present Director (2019-2021) Gilbert Mercado, EA – Present Director (2019-2021) Ann McIntyre, EA, CPA – Not present Kathy Mannering – Present Tim Mezhlumov – Present Joy Hudman – Present Mark Noel -Not Present Kathleen Wells - Guest

4. Approval of Agenda – Sean, 2nd Tim Adams, Agenda Approved

5. President’s comments

Introduction of new Board Members 6. Banking Resolution

Motion – Kathleen Mannering, 2nd Anna Dunson , Approved

7. 2019 – 2020 Agenda Tim and Sean to meet with Capital of Texas Enrolled Agents for possible merger Rubin to head new Austin Group of possibly up to 75 new members.

8. Tax Alliance Conference 9. Southwest summit – Texas, New Mexico, Oklahoma, Louisiana

Meeting in Tim’s office. Full day discussion on joint meeting Formatted similar to Level two of NTPI. Will be focused on mentorship, Networking, and practice management. No lecture style teaching Seed Money to be provided by each state. Next telephone meeting in September Next looking at event planners and locations Possible Cruise meeting discussed All other tax professionals will be included and invited.

10. Membership Tim to give new EA list to Kathleen Membership report from Kathleen Wells Notifying suspended or lapsed memberships New NAEA membership Chair has now sent new membership and suspended list 14 terminated and 16 suspended

Everyone has a certificate EA Pins will be delivered to existing and new members Members need to hear and see us. Membership survey to be emailed to everyone.

11. Tax Alliance Conference – considering not attending again and using monies elsewhere 12. Advocacy Continuation Discussion

Plan on contact by membership quarterly to send to state reps Sean and Steve plan on addressing limited publishing of Accountancy Board reporting of only successes not losses. After FOIA will produce a legal defense manual for EAs to use if they are contacted by Accountancy Board. Use as a benefit for membership. Motion to contact an attorney to help prepare the Legal Defense manual EA protection limit of $5,000 – Gilbert and Second by Ann. Approved unanimously. $5.00 of all new memberships to go toward Legal Defense Fund as stated in SOP. Treasure to allocate the monies toward to Legal Defense Fund.

13. Convention to be at DoubleTree Houston Hobby. Date is 6/20 – 27th. Mary Kubricht-White. Will be Venue Coordinator. Motion to move to 2 year at each location beginning 2020 Motion Gilbert, 2nd Ann. Motion passed Motion to include Education chair of TxSea and a member from each chapter to be on convention committee. Ann and 2nd by Sandi. Motion Approved.

14. SSLA Applications To be held in November. Discussion to send Irmarie Mercado and Kathleen Wells.

15. Consent Agenda a. President’s Report b. Bice-President’s Reports c. Committee Reports

i. Membership d. Chapter Reports

Financial Reports still needed from some Chapters. Motion to reimburse the committee members for Kathleen Wells, Kathy Mannering for three days of hotel stay. Gilbert and 2nd from Ann. Approved. Motion to approve Consent agenda Sean and Anna 2nd. Approved

16. Announcements 990 need to be filed for each chapter. Proof of filing to be sent to Treasurer@Txsea.com Next meeting will be Wednesday, October 23rd at 9:am telephonic. Next in person meeting at Tim’s Office on January 10th, 10:00am 2nd telephonic meeting will be April 22nd, 9am Annual Meeting will be final meeting on June 28th in Houston in person Jalapeno to meet Jan 22, on Forensic Accounting and Selections Enforcement, Life of a Tax Court Case. Houston is July 22nd, Estate Planning, Tax Liens, Foreign Taxes - 4 hours October will be 4 hours on Security January 4 hours of Kathy Morgan and Rubin from Austin with Trust Fund Issues DFW will be July 11th, to install officers and panel discussion on tax issues. North Texas second Saturday in July and the BOB installation Meeting adjourned 11:50

Good of the order

New ballot without signature sent to members Appreciation for Tim’s efforts on Drive-in

7 Announcements

a. Next board meeting April 24th, 10AM telephonic meeting b. Consider adopting uniform format for education announcements. c. Alex Burgos agreed to be new education chair but now has health issues and will not be

able to. Chapter needs to provide someone to replace Teresa Coleman d. Have several committees that need more people and filling

Tim will provide a list of positions and committees needing help. 8 Adjourn – 10:00 am

RESOLUTION OF THE TEXAS SOCIETY OF ENROLLED AGENTS

Banking Signatories

WHEREAS, the Officers of the Texas Society of Enrolled Agents, Inc (aka “TxSEA”) were duly elected for the 2020 – 2022 fiscal years, and

WHEREAS, the Standard Operating Procedures of the Society call for the signatories on the bank account to be the President, Treasurer, Secretary and Past President, and

WHEREAS, it is the desire of the Board of Directors to enable the Treasurer online access to the bank account(s),

BE IT RESOLVED: That these Officers shall be the signatories on the bank account:

President – Sean Monohan, EA, USTCP Treasurer – Irmarie Mercado, EA Secretary – Kathleen Adams Wells, EA Past President – Timothy W Adams, EA

THE UNDERSIGNED hereby certifies that she is the duly elected, qualified and acting Secretary of the Texas Society of Enrolled Agents, Inc. and that the foregoing resolution was submitted to and approved and adopted by the Board of Directors at the meeting held on June 26, 2020, and that said resolution is now in full force and effect without modification or recession as permitted under the bylaws of the Society and in accordance with the provisions of the laws of the great State of Texas under which the Society is organized as a Non-Profit Corporation.

IN WITNESS WHEREOF, the undersigned has hereunto set her hand effective this (26th) twenty- sixth day of June, 2020.

Kathleen Adams Wells, EA Secretary

TXSEA President Message

State of TXSEA & Tax Services Industry:

1) Demographics of EA’s and other tax professionals:a) Older, mostly 50 & upb) Significant existing of the industryc) Average earnings about $46K

2) Resource limitations, creating a difficulty in implementing organizational efforts;3) Significantly driven by protocol instead of desired outcome;4) Highly misinformed and unnecessarily demanding client base;5) DIY Tax Software vendors & retail tax services are the largest voice for tax services in the

industry;6) Competing certifications or no certifications for tax services

TXSEA President Message

Key Opportunities

1) Communicate to members as well as client base what we do for our clientsa) Risk Management servicesb) True value of tax preparation and other servicesc) Don’t measure us based on “client service” concepts (i.e. Convenience, speed, fee free,

etc)d) Provide grass roots tools to members on how to communicate our value to clients

2) Attract younger tax professionalsa) Implement a SEE course programb) Develop and disseminate best practices on practice & client managementc) Client interaction, including psychological trainingd) Business coaching seminars, especially for incoming and active members

3) Develop Relationships with Legislation & legal defense support1) Continue lobbying efforts in some form2) Develop a “Defense Manual” for TXSEA members3) Possibly share practice management efforts with competing certifications

TXSEA President Message

Key Outcomes

1) Client management skills become as valued as tax law skills2) Client satisfaction grows as they align with the value we provide3) Revenue should grow as the value of risk management increases4) Lifestyle should improve with more revenue & less clients5) Younger professionals creates buyers for established practices as well as organizational

resources6) Common practice management across the industry allows for easier practice transitions7) Interaction with Legislature & other tax professions may elevate EA’s as well as create synergies

alleviating competitive tensions

To: Officers, Directors, and Members of the Texas Society of Enrolled Agents

From: Teresa Coleman, EA, Chair

Subject: 2020 & 2021 TxSEA Convention Committee

Date: June 15, 2020

2020 TxSEA Convention The 2020 Convention committee has met weekly since the Board voted to turn it into 5-days, 5 webinars. The speakers quickly got on board and are all experienced webinar presenters. The registration went live May 15th on the TxSEA.org homepage with more detailed information under the Education:Convention tab. The bi-monthly newsletter has the registration info with links to each day’s registration. NAEA has the announcement in its Tax Break weekly bulletin. Today, the committee posted the convention info on the TxSEA FaceBook page, and 2 other professional tax preparer FaceBook pages. Numerous e-blasts have been sent to TxSEA members, Former TxSEA members, and DFW and Houston members. The committee’s weekly meetings have been practice webinars to fine-tune our working behind the scenes. We developed moderator scripts, assembled an attendee arrival loop with information on how the webinar will be run, implemented fun ideas for the breaks, screen tested potential moderators, worked on evening Meet & Greets, resolved technical sign-in issues, etc. The speakers were given a questionnaire to indicate their preferences on such things as: who controls their PowerPoint presentation, will they use their webcam, how & when will they answer questions, who is responsible to making up polling questions and do they want to see the results, will they stay after the seminar and answer more questions. The speaker contract was revised per LG’s request, not necessary for Kathy & Marc due to the email trail.

With one week to go, the committee will test the moderator & fun coordinator teams with one or two assistants backing up on AV and questions. An email will be sent to each attendee inviting them to test their GoToWebinar link and, if issues, to attend a Friday 10 AM or 2 PM webinar/call-in session. The moderator & fun scripts will be finalized for each day. Speaker handouts, PowerPoints and polling questions will be uploaded. Personal contacts will be made to potential attendees to facilitate registration or gather comments on why not. Income $9650 Expenses $7759 P&L attached along with YTD registration list 2021 TxSEA Convention Per last Board meeting the cruise convention is cancelled. No work has been done other than gathering a limited amount of venue information and putting out feelers for potential speakers.

TxSEA 2020 Registration

First Name Last Name Date Pd Day 1 Day 2 Day 3 Day 4 Day 5 Total Pd Grand Total Chapter New TxSEA MemberTimothy Adams 5/18/20 75 75 75 75 75 375 DFWDouglas Pierce Gray 5/18/20 75 75 75 75 75 375 AustinWard Molen 5/18/20 75 75 75 75 75 375 GHCBob Rivesman 5/18/20 75 75 75 75 75 375 GHCCruz Ledesma-Jonson 5/19/20 0 0 0 0 0 0 Jal 2019 Conv Cert for 2020 basic registrationPenny Morgan 5/19/20 75 75 75 225 DFWJacqueline Muhammad 5/19/20 75 75 GHCBruce Belvin 5/20/20 75 75 150 GHC non-memberYesJoy Hudman 5/20/20 75 75 75 75 75 375 GHCSean Monohan 5/21/20 75 75 75 75 75 375 NTXElizabeth Turek 5/21/20 75 75 75 75 75 375 NTXSandi King 5/22/20 75 75 75 75 75 375 DFWTeresa Coleman 5/24/20 75 75 75 75 75 375 GHCAnn McIntyre 5/24/20 75 75 75 75 75 375 JalRuben Valdes 5/26/20 75 75 75 75 75 375 AustinDouglas (Marshall) Chumley (W) 5/27/20 75 75 75 75 300 GHCStevie Thompson 5/28/20 75 75 75 75 300 Gilmer YesMichael Adams 5/29/20 75 75 75 75 75 375 DFWKevin Denny 5/29/20 75 75 75 75 75 375 DFWKathleen Wells 5/29/20 75 75 75 75 75 375 DFWNorma Garcia 5/29/20 75 75 75 75 75 375 Ft WorthJohn Stanley 5/29/20 85 85 BurlesonLaura Olszeski 5/29/20 85 85 PfugervilleCarolyn Forden 6/1/20 75 75 75 225 Ft Worth YesDebora Di Fiore 6/1/20 75 75Nina Bennett-Dicus 6/2/20 85 85 85 85 85 425 NTXVicki Ferrantello 6/3/20 85 85 170 NTXDaniel Hartsock 6/4/20 85 85 85 85 85 425 DFWTeresa Papenmeier 6/10/20 85 85 85 255Kathleen Mannering 6/12/20 75 75 75 75 75 375 DFWIngo Klein 6/12/20 75 75 El PasoWilliam Fieldbinder 6/12/20 85 85 170 GHCChris Raif 6/15/20 75 75 75 75 75 375 GHC YesOthann Warner 6/15/20 75 75 JalSally Heflin 6/15/20 85 85 BellvilleMonika Heaton 6/15/20 75 75 9650 NTX

00000000

31 23 26 27 24 131 9650 Break-even $7759

2020 TxSEA Convention WebinarActual as of 6-15-20

Initial Estimate

Full 5-day Registration TxSEA member 17 30Full 5-day Registration non-TxSEA member 2Total partial TxSEA Registration days 21Total partial non-TxSEA Registration days 10 70Avg # attendees per day 26

IncomeRegistration Fee 9,650 15700Vendor Income - 150Total Income 9,650 15850

Variable CostsRegistration/CC Fees estimated @ 6% 579 951

Fixed CostsSpeaker Fees 4,300 4300Cvent registration fees 480 480GoToMeeting annual expense 2,400 2400Total Expenses 7,759 8131

Net Income 1,891 7,719

6/15/2020 tc

To: Officers, Directors, and Members of the Texas Society of Enrolled Agents From: Joy Hudman, EA Subject: TxSEA Education Foundation Date: June 18, 2020 A meeting of the remaining officers of the TxSEA Education Foundation have determined that the future of the Foundation is uncertain at this time. We recommend a vote to dissolve the Foundation and forward any unexpended funds to the Texas Society of Enrolled Agents to be used for Scholarships or other Education. Attached please find Financials for the period ended April 2020. Respectfully, Joy C. Hudman, EA Texas Society of Enrolled Agents Education Foundation

To: Officers, Directors, and Members of the Texas Society of Enrolled Agents From: Joy Hudman, EA Subject: Awards Committee Report Date: June 17, 2020 The awards committee reviewed the nominations for awards. Recipients were determined and plaques have been ordered. The awards will be shipped to the recipients after they are announced at the Annual Meeting on June 23, 2020. Respectfully, Joy C. Hudman, EA Awards Committee Chair

To: Officers, Directors, and Members of the Texas Society of Enrolled Agents

From: Timothy W Adams, EA

Subject: President’s Final Report

Date: June 20, 2020

As my tenure comes to an end, I would like to thank you for affording me the opportunity to have served as your President over the past couple of years. Now that the new board members have taken over, I am confident that they will lead TxSEA far into the future.

This year has proven to be a tremendous challenge for all the reasons you are well aware of. Converting our Convention to a web-based format is just one of those challenges, which I believe has gone greater than expected. I cannot say enough good things about the Convention Committee as well as many others who stepped up to the challenge and made this work and work well!

With the season extended, it did cause many members to not be able to attend, however, the max attendance this year is right in line with previous attendance levels. While it is not intended to replace an in-person Convention ongoing, as the in-person meetings are necessary for networking as well as many other benefits.

My charge to the incoming board is to utilize the GoToWebinar ability on a regular basis throughout the year in order to provide Quality CE to members throughout the State as well as for use by the individual Chapters. Coordination between the chapters is paramount and if used properly, will prove to be a valuable tool ongoing. Modification of the SOP is in the works in order to define how this is to function and flourish. Again, the webinars are NOT intended to replace in-person meetings, rather it should be used to augment and to help foster the ability to create new chapters throughout the State over time.

As I transition to the position of Immediate Past-President, I will continue to assist Sean Monohan, EA, USTCP as the new President as well as other members of the Board in order to facilitate as smooth a transition as possible.

Sincerely,

Timothy W Adams, EA Immediate Past-President of the Texas Society of Enrolled Agents

To: Officers, Directors, and Members of the Texas Society of Enrolled Agents

From: Sean Monohan, EA, USTCP, CFP

Subject: 1st Vice President’s Report

Date: June 20, 2020

With my transition to President, my efforts have largely been working with the current President to assume duties upon installation. Examples have been meeting with the TXSEA President to transfer files and information as well as understand various duties.

In addition, developing the vision I will bring to the TXSEA Board of Directors over the next two years.

To: Officers, Directors, and Members of the Texas Society of Enrolled Agents

From: Teresa Coleman, EA

Subject: 2nd Vice President’s Report

Date: June 12, 2020

As Second Vice President, and responsible for the bird’s eye view of Education, it seems that changing to the webinar format is not as popular with the TxSEA members as the in-person seminars. I had thought that members who regularly received their CE credit via webinars would participate much more in the Chapter and annual convention webinars. It doesn’t appear to be the case. After the convention I suggest we follow-up with the members and ask for their preferences in regards to webinars with the assumption that in-person seminars are not feasible for the rest of the year.

To: Officers, Directors, and Members of the Texas Society of Enrolled Agents

From: Teresa Coleman, EA, Chair

Subject: Education Committee

Date: June 15, 2020

A quiet fourth quarter for the Education Committee. One webinar presented amongst the DFW, Jalapeño and Houston Chapters since our last board meeting. Due to a mix-up, the attendees didn’t receive the 1-hour credit, but the ensuing discussion between the attendees was worth more than getting the CE credit. I was an attendee, and that’s my opinion. While the Chair is responsible for providing Program Numbers for seminars/webinars given by the DFW, Jalapeño and Houston Chapters and uploading the CE credit to the IRS website as needed and maintaining the required files for both the IRS and TSBPA, no action was required for the 3 Chapters. Only the TxSEA convention required getting new Program Numbers due to the change from in-person to webinar. See 2nd VP and Convention Chair reports for additional education news.

Membership Campaign Update:

1. Target Date for Website Upload - http://w14.4ee.myftpupload.com/

a. This is the landing page so far. 2. Review https://www.activecampaign.com for Campaign Management

a. This is what we will use to text and blast emails to new EAs 3. Current Pictures of Texas SEA for website.

a. I NEED PICS OF PEOPLE! I showed them our FB page but we need more. 4. Content for Website

a. What should be on our website? Study Material? Mixers and social gatherings, EAs having fun???? 6. Calendar Events Management https://www.naea.org/events-education/calendar 7. Pictures of Leadership

a. I NEED HEAD SHOTS! 8. Discussion on How to set up membership account – national first, then state a. I am working with Allison Tune from NAEA to make sure we are in compliance and promoting National and State Membership. 9. Branding Image for Social Media Accounts

a. Complete 10. We are doing a drip campaign for members and non-members using Mail Chimp. Info is on next page.

Current members Mailchimp

email - webtxsea@gmail.com

username - jointxsea

password: 4Customers2!

members listed - 454

Former/Non members Mailchimp

email - webtjoinxsea2@gmail.com

username - jointxsea2

password: 4Customers2!

members listed - 718

New Member Update:

• 52 Certificates were mailed out on May 9th. o Postage total was $74.20 o I also had to order more cardboard inserts for the mailings. $17.21

• There were 16 Suspended members. o Out of the emails I sent 2 forgot and are going to renew and 2 confirmed

that they are not renewing. I am very concerned about the 2 that are outright not renewing since

one of them was the former President of the NTX Chapter and the other one was an active member of the Jalapeno Chapter.

o 3 members are still suspended and 3 have actually renewed as of 06/17/2020.

Last, First Designation Phone Email Join Date Expiration Paid Thru Date Member Type

Adams,Jane EA (817) 308-4009 janeadams_1@charter.net 3/1/2018 2/28/2021 2/29/2020 Affiliate

Allbright,Michael EA (214) 236-9547 mike@taxcleanup.com 6/4/2013 3/31/2021 3/31/2020 Affiliate

Alonzo,Javier - (956) 627-1113 safetax1@aol.com 4/1/2016 3/31/2021 3/31/2020 Affiliate Associate

Cooper,LaTanya EA, NTPI Fellow®

(682) 323-8232 lcooper@truthbookkeeping.com 3/1/2017 2/28/2021 2/29/2020 Affiliate

Deleva Veleva,Blaga EA

(281) 781-7794 Bveleva@taxandbusinesssolution.com 9/12/2011 2/28/2021 2/29/2020 Affiliate

Graham,Susan EA (210) 865-2588 susan@grahamtaxsolutions.com 3/25/2009 3/31/2021 3/31/2020 Affiliate

Hightower,Kelly EA, NTPI Fellow®

(817) 251-7049 bttykel@gmail.com 4/1/2016 3/31/2021 3/31/2020 Affiliate

JE,CHOONGHO EA (281) 908-6397 jehoous@gmail.com 4/1/2019 3/31/2021 3/31/2020 Affiliate

John,Nelson EA, MBA (972) 278-4040 nelsonpjohn@mytaxoffice.org 4/1/2017 3/31/2021 3/31/2020 Affiliate

Johnson,Richard EA (713) 784-3400 richardojohnson@rojtaxservices.com 4/1/2014 3/31/2021 3/31/2020 Affiliate

Mezhlumov,Tim EA (214) 923-3905 timmezdallas@gmail.com 4/1/2014 3/31/2021 3/31/2020 Affiliate

Perdomo,Maricela EA (972) 313-5913 alianzausa@yahoo.com 4/1/2019 3/31/2021 3/31/2020 Affiliate

Reed,Mac EA, MSA (281) 214-1185 mac@mac-reed.com 3/1/2015 2/28/2021 2/29/2020 Affiliate

Truitt,Richard EA (817) 870-1242 richardtruitt@uwmail.com 10/21/2010 3/31/2021 10/31/2014 Affiliate

Williams,Bradley EA (903) 763-4366 bradwilliamsea@gmail.com 4/1/2018 3/31/2021 3/31/2020 Affiliate

Winn,Polly EA (214) 366-9500 pbwinn@windstream.net 2/28/2013 2/28/2021 2/29/2020 Affiliate

TERMINATED RENEWED SUSPENDED

Thanks!

Kathleen Wells, EA, NTPI® Fellow

To: Officers, Directors, and Members of the Texas Society of Enrolled Agents

From: Monika Heaton, EA

Subject: Public Relations/Communications In-Training

Date: June 17, 2020

1. Started working with Ruben Valdes to get a better understanding of what he did as Communications Director. What program he used for the newsletter. Where he got his information for the newsletter.

2. Reviewed Canva and got a free membership so I am ready to write my first newsletter July 1st. 3. Am participating in the convention as a moderator. 4. Meeting with Tim Adams to discuss more information on the newsletter and the intent of the

newsletter, and how we may use this as a valuable resource for our members and “future” EA’s.

To: Officers,Directors,andMembersoftheTexasSocietyofEnrolledAgents

From:KathleenMannering,EA

Subject:DFWChapterPresident’sReport

DateJune17,2020

MEETINGS: Our next CE event is scheduled for Aug 7st with Ruben Valdes we are hopeful that this will be a ‘Live Meeting’. Assuming our regular venue remains open on that date. We will make the final decision at our next DFW Chapter board meeting in July. We had a Virtual/Zoom meeting on May 1st about the various payroll tax issues recently passed thru the CARES Act.

MEMBERSHIP: Of the 46 paid 2019-2020 members only 22 have renewed their membership as of June 5th. Hopefully with 2nd reminders going out last week our numbers will come up.

Board Elections were held and the 2020-2021 Board have all been re-elected: President: Kathleen Mannering, EA 1st Vice President: Kathleen Wells, EA 2nd Vice President: David Evans, EA Treasurer: April Allen, EA Secretary: Gina King, EA TCCC UPDATE:

Due the School’s physical closure in March and the fall reopening still undecided, our planned ‘Pathway to EA’ career day has not been rescheduled yet. But our contact at the school is still very optimistic that this event will be part of future career day presentations.

FINANCIALS: I am attaching our treasurer’s May report (latest).

DFW Chapter of Enrolled AgentsBALANCE SHEETAs of May 31, 2020

Cash Basis Friday, June 5, 2020 02:29 PM GMT-05:00 1/1

TOTAL

ASSETS

Current Assets

Bank Accounts

BOA - Checking 0095 100.00

BoA - Checking 1138 1,259.89

BoA - Savings 7498 1,008.40

CD 2,281.76

Total Bank Accounts $4,650.05

Other Current Assets

Undeposited Funds 300.00

Total Other Current Assets $300.00

Total Current Assets $4,950.05

TOTAL ASSETS $4,950.05

LIABILITIES AND EQUITY

Liabilities

Total Liabilities

Equity

Retained Earnings 6,152.59

Net Income -1,202.54

Total Equity $4,950.05

TOTAL LIABILITIES AND EQUITY $4,950.05

DFW Chapter of Enrolled AgentsPROFIT AND LOSS

May 2020

Cash Basis Friday, June 5, 2020 02:18 PM GMT-05:00 1/1

TOTAL

Income

Dues Income 475.00

Monthly Meeting 205.28

Total Income $680.28

GROSS PROFIT $680.28

Expenses

Administrative Expense 0.00

Bank Charges 16.00

Event Bright Fees 19.02

Pay Pal Fees 8.66

QuickBooks Payments Fees 16.91

Quickbooks Software Subscription 30.91

Zoom Subscription 15.74

Total Administrative Expense 107.24

Webinar Costs 80.00

Total Expenses $187.24

NET OPERATING INCOME $493.04

Other Income

Interest Income 0.43

Total Other Income $0.43

NET OTHER INCOME $0.43

NET INCOME $493.47

To: Officers, Directors, and Members of the Texas Society of Enrolled Agents

From: Teresa Coleman, EA, Chapter President

Subject: Houston Chapter Report

Date: June 12, 2020

The Houston Chapter elected back in January to not have its July 25th 4-hour seminar in light of the TxSEA convention being in Houston. Even though the convention is now a series of webinars, the decision remains the same. Current membership is 45 members. Attached is the P&L & Balance Sheet.

31-May-20

AssetsBank Account 39579.17Accounts ReceivableFixed Assets 874.81 Less Depreciation -874.81

Total Assets 39,579.17

Liabilities & EquityAccounts Payable 0R/E 7-1-2019 40,400.45Net Income -821.28

Total Liabilities & Equity 39,579.17

Greater Houston Chapter TxSEA31-May-20

IncomeMembership

Member 801.75Prov. Assoc 0.00Prof. Assoc 127.50Associate 75.00Life Member 0.00 1,004.25

Number of Members 45

Continuing Education07/27/19 1,680.0010/26/19 2,303.0001/04/20 6,373.00

4th Qtr 0.00Total Seminar 10,356.00

Other IncomeLate membership FeesBank Interest

Total Other Income

Total Income 11,360.25

ExpensesSeminars

27-Jul-19Hotel Food 1,336.03Copies 51.96 1,387.99

10/26/19Hotel Food 1,524.54Copies 316.30Speaker Honorarium 2,000.00 3,840.84

1/4/20Hotel Food deposit 500.00Hotel Food 4,090.67Hotel AV/Equip 268.46Copies 80.53Speaker Honorarium 1,200.00Speaker Travel 663.04 6,802.70

Other ExpensesTxSEA Foundation 150.00 150.00

Total Expenses 12,181.53

Net Income -821.28

Profit & Loss5/31/20

To: Officers, Directors, and Members of the Texas Society of Enrolled Agents

From: Gilbert Mercado, EA

Subject: Jalapeno Chapter Report

Date: June 18, 2020

The current state of affairs with the COVID-19 pandemic has cause the Jalapeno Chapter to cancel our upcoming CE event and Chapter meeting previously scheduled for July 24, 2020. The meeting was cancelled in order to ensure the safety of our chapter members, speakers and the community as a whole. We currently have our next meeting scheduled for October 23, 2020. This date is tentative and may be changed, postponed or cancelled based upon the COVID-19 situation later this year.

We will not be offering webinar type CE training for our membership due to the overwhelming number of resources available that offer these types of training and in an effort to avoid competing with the TXSEA convention.

As of this report the chapter has a balance of $3997.29 in its bank account. We had previously set a goal of $10,000 to be maintained as a reserve in order to ensure financial stability and offer members quality continuing education opportunities as well as other projects. Unfortunately, this has also been placed on hold until such time as we can schedule CE events at a future date.

As of this date the chapter has not engaged new members although there have been multiple inquiries as to how to participate. We have continued to communicate with prospects and will continue to engage them in an effort to have them join. Unfortunately, due to the pandemic, it is my opinion that we can expect to see a decline in membership as current members either depart the business or seek to obtain CE credits through other sources. As of this date we have not seen a decline in membership. We will be sending out emails requesting membership renewals over the next few weeks. Additionally, we will be offering an opportunity to pay at our next meeting scheduled in October.

We have attempted to seek membership engagement and participation in our board and other activities without any success. We will be sending out email requests once again to seek individuals willing to take on chapter responsibilities and who wish to participate.