Pope Memorial Spca of Concord Merrimack County

“The society adopted the provisions of fasb interpretation no. 48, accounting for uncertainty in income taxes (fasb asc 740), on january 1, 2009. Fasb asc 740 seeks to reduce the diversity in practice associated with certain aspects of measurement and recognition in accounting for income taxes. In addition, fasb asc 740 provides guidance on derecognition, classification, interest and penalties, and accounting in interim periods and requires expanded disclosure with respect to the uncertainty in income taxes. The society's accounting policy for evaluating uncertain tax positions includes a review of all material tax positions for all types of taxes in all jurisdictions and for all open years in accordance with the recognition and measurement requirements of fasb asc 740. The most common form of tax positions for the society is a position taken in the entity's tax exempt status. However, fasb asc 740 also looks at other forms of tax positions, including whether there are unrelated business income activities conducted that would be taxable. Once this process is completed, the positions are evaluated in terms of their likelihood to succeed. For tax positions that do not meet the definition of more likely than not to succeed, no tax benefit is considered. Only those tax positions that have a greater-than-50% chance of being sustained on audit by a knowledgeable agent are included in valuing the benefit. This analysis is performed using all relevant authorities. The society files the form 990. With few exceptions the society is no longer subject to u.s. Federal tax examinations by tax authorities for years before 2013. Management of the society believes it has no material uncertain tax positions and, accordingly it will not recognize any liabilities for unrecognized tax benefits.”

“FUNDRAISING EXPENSES”

“FUNDRAISING EXPENSES”