Silver Beach Improvement Association Inc

“Expenses liability insurance 13,132 workers compensation 1,094 auto insurance 439 real estate taxes 2,481 beach expense 6,415 utilities 84 office expense 1,755 program services expense 19,075 repairs and replacements 3,836 bank fees 2,461 equipment supplies 2,293 donations 5,278 payroll service 708 mooring fee 150 interest expense 559 security patrol 2,390 other 1,380 licenses & permits 209 non-investment depreciation 15,837 total 79,576”

“50% meals 0 book / tax depreciation difference -1,760”

“185,228 185,228 less accumulated depreciation 26,858 44,455 total 158,370 140,773”

“LINE OF CREDIT 24,000 0”

“To maintain beach, provide lifeguards, swim lessons, maintain tennis court, conduct children's social events including movies, cookouts, arts and crafts, dances etc., periodic membership meetings and social events to improve silver beach.”

“Periodic meetings and social events are provided to members for a nominal fee. The events further the organizations exempt purpose by keeping members informed of beach services and children's activities including swim lessons, arts and crafts and water safety procedures. Association logo hats and shirts, primarily for children, are sold at a nominal cost to further goodwill and encourage membership participation. Events include movies, cookouts, children dances, games and other events open to all association members and families. All proceeds are used to maintain beach and tennis courts.”