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with funds from an account held in the name of HGAMC but was
titled in his name.
From their respective inceptions, Mr. Richardson’s sole
proprietorships, HGAMC, and HGRCT were operated out of
petitioners’ residence on Quailwoods Drive. Resolutions
specified that particular business operations of HGAMC would be
conducted at its “headquarters” on Quailwoods Drive and required
the presence of the Executive Director at the site to oversee
maintenance and security. In addition, through a series of
resolutions, HGAMC was authorized to, and did, contract for the
remodeling of the company headquarters.
With respect to business conducted elsewhere, minutes show
that the directors “were authorized to travel to Nashville,
Indiana for purposes of looking at different land investment
opportunities.” Later, a director’s meeting attended by
petitioners’ four children was held at Mike Fink’s Restaurant in
Covington, Kentucky, “for the purpose of discussing duties of
successor directors with those appointed as successor directors”.
At that meeting, “It was dedided [sic] that more time should be
devoted to training & that a two (2) day meeting should be
scheduled for Brown County State Park in the future”. The tab
for the meal was $247.38.
Matters related to tax issues, from administrative functions
related to preparation of the entities’ returns to intentions or
positions on tax topics, were likewise addressed at board
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Last modified: May 25, 2011