Lehigh Valley Zoological Society

“Zoological collection- animals acquired either through purchase or donations are not capitalized. Purchases of animals are recorded as decreases in unrestricted net assets if purchased with unrestriced assets and as decreases in temporarily restricted net assets if purchased with donor restricted assets. Contributions of animals are not recognized in the statement of activities. Proceeds from deaccessions are reflected in the statement of activities based on the absence or existence of donor-imposed restrictions.”

“Accredited by the association of zoos and aquariums, lehigh valley zoological society maintains an animal collection which furthers the society's core purpose of saving species from extinction. The collection inspires the design of our animal exhibits, our conservation education programs and our leadership in wildlife conservation. The society's collection includes more than 300 animal ambassadors representing over 100 species, many of which are classified as endangered, threatened, or species of concern. This vibrant collection ignites our passion to provide engaging educational programs and wildlife experiences that touch over 150,000 people annually, including more than 35,000 participants in our formal conservation education programs that inspire tomorrow's conservation stewards. Our goal is to provide smart fun at the zoo!”

“Lehigh valley zoological society is a nonprofit organization that is exempt from income taxes under section 501(c)(3) of the internal revenue code. The accounting standard for uncertainty in income taxes addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. Under that guidance, the society may recognize the tax benefits from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by taxing authorities based on the technical merits of the position. Examples of tax positions include the tax-exempt status of the society and various positions related to the potential sources of unrelated business taxable income (ubit). The tax benefits recognized in the financial statements from such a position are measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. There were no unrecognized tax benefits identified or recorded as liabilities for the years ended october 31, 2023 and 2022. The society files its form 990, return of organization exempt from income tax, with the united states internal revenue service. The society's returns remain open to examination by the internal revenue service for the years ending october 31, 2020, 2021, 2022 and 2023.”

“Cost of goods sold -369,764. Fund raising event expenses -83,186.”

“Cost of goods sold 369,764. Fund raising event expenses 83,185.”