Pathway to Possible Inc.

“The organization participates in the social security administration's representative payee program, which provides financial management for the social security and ssi payments of its clients who require assistance in managing their social security or ssi payments.”

“The agency's endowment consists of several individual funds established for a variety of purposes. Its endowment includes both donor-restricted endowment funds and funds designated by the board of directors to function as endowments. As required by generally accepted accounting principles, net assets associated with endowment funds, including funds designated by the board of directors to function as endowment funds, are classified and reported based on the existence or absence of donor-imposed restrictions. The board of directors has interpreted massachusetts law chapter 180a as requiring the preservation of the fair value of the original gift as of the gift date of the donor-restricted endowment funds absent explicit donor stipulations to the contrary. As a result of this interpretation, the agency classifies as permanently restricted net assets (a) the original value of gifts donated to the permanent endowment, (b) the original value of subsequent gifts to the permanent endowment, and (c) accumulations to the permanent endowment made in accordance with the direction of the applicable donor gift instrument at the time the accumulation is added to the fund. The remaining portion of the donor-restricted endowment fund that is not classified in permanently restricted net assets is classified as temporarily restricted net assets until those amounts are appropriated for expenditure by the organization in a manner consistent with the standard of prudence prescribed by massachusetts law chapter 180a. In accordance with massachusetts law chapter 180a, the agency considers the following factors in making a determination to appropriate or accumulate donor-restricted endowment funds: (1) the duration and preservation of the fund (2) the purposes of the organization and the donor-restricted endowment fund (3) general economic conditions (4) the possible effect of inflation and deflation (5) the expected total return from income and the appreciation of investments (6) other resources of the agency (7) the investment policies of the agency. Return objectives and risk parameters: endowment assets include those assets of donor-restricted funds that the agency must hold in perpetuity or for a donor-specified period(s) as well as board-designated funds. Under this policy, as approved by the board of directors, the endowment assets are invested in a manner that is intended to produce results that exceed the price and yield results of the s&p 500 index while assuming a moderate level of investment risk. The agency expects its endowment funds, over time, to provide an average rate of return of approximately 8.25% annually. Actual returns in any given year may vary from this amount. Strategies employed for achieving objectives: to satisfy its long-term rate-of-return objectives, the agency relies on a total return strategy in which investment returns are achieved through both capital appreciation (realized and unrealized) and current yield (interest and dividends). The agency targets a diversified asset allocation that places a greater emphasis on equity-based investments to achieve its long-term return objectives within prudent risk constraints. Spending policy and how investment objectives relate to spending policy: the board of directors have authorized an investment spending policy under which the agency uses up to 5% of the average market value of its investment portfolio over the previous twelve quarters. In establishing this policy, the agency considered the long-term expected return on its endowment. Accordingly, over the long term, the agency expects the current spending policy to allow its endowment to grow at an average of 3% annually. This is consistent with the agency's objective to maintain the purchasing power of the endowment assets held in perpetuity or for a specified term as well as to provide additional real growth through new gifts and investment return.”

“The agency is recognized as an organization exempt from federal income taxes under section 501(c)(3) of the internal revenue code (the "code") whereby only unrelated business income, as defined by section 512(a)(1) of the code, is subject to federal income tax. In addition, the agency has been determined by the internal revenue service not to be a private foundation within the meaning of section 509(a) of the code. The agency recognizes and measures its unrecognized tax positions in accordance with fasb asc 740, income taxes. Under that guidance the agency assesses the likelihood, based on their technical merit, that tax positions will be sustained upon examination based on the facts, circumstances and information available at the end of each period. The measurement of unrecognized tax positions is adjusted when new information is available, or when an event occurs that requires a change. Interest and penalties associated with unrecognized tax positions are classified as additional income taxes in the combined statement of activities. The agency did not identify any uncertain tax positions at june 30, 2014 or 2013. The agency is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress. The agency's federal exempt organization business tax returns are subject to examination by the internal revenue service, generally for three years after they were filed. The agency believes it is no longer subject to income tax examinations for periods prior to 2011.”

“Auction expenses reported against revenue in part vii, line 8b 32,226.”

“Auction expenses reported against revenue in part vii, line 8b 32,226.”