Silver Beach Improvement Association Inc

“Expenses liability insurance 14,663 workers compensation 1,614 auto insurance 439 real estate taxes 2,466 beach expense 9,721 utilities 95 office expense 1,190 program services expense 29,228 repairs and replacements 7,983 bank fees 2,862 equipment supplies 4,216 donations 800 payroll service 658 mooring fee 105 security patrol 4,262 other 1,301 licenses & permits 79 non-investment depreciation 14,253 total 95,935”

“50% meals 0 book / tax depreciation difference 1,758”

“185,228 185,228 less accumulated depreciation 44,455 56,948 total 140,773 128,280”

“LINE OF CREDIT 0 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.”