Wallingford Public Access Association Inc

“Volunteer Executive Director is wife of a Board Member.”

“Draft 990 and other Policy Documents are reviewed annually in October including 990 based on file deadline extension.”

“Conflicts of Interest are identified, if applicable, at annual meeting. Board members sign conflict of interest status when joining the board.”

“In 2014 a memorandum of understanding was entered into creating a uncompensated administrative role for executive director.”

“Transparency information is publicly available here https://wpaa.tv/sunshine/ and with the cable TV regulator by annual support review reporting on their website.”

“Supplemental Information - Depreciation Detail: Detailed depreciation calculations are maintained on Form 4562 and supporting schedules on file with the organization. These schedules substantiate the total 2024 depreciation expense of $36,239 reported in Part IX, Line 22 and the accumulated depreciation of $133,868 shown in Part X, Line 10b.”

“Part IX, Line 25 column management includes Accounting fees, Insurances, and all depreciation to more accurately reflect direct program costs in accomplishments.”

“Part X - Cash and Savings: The organization held $21,748 in operating checking and $25,348 in savings accounts at year-end, as confirmed by December 31 bank statements. These balances are presented separately on Lines 1 and 2 and are not included in investments or fixed assets.”

“Part X - Lines 10a-10b / Part IX - Line 22: Depreciation for the year ended December 31, 2024, totals $36,239 and includes building ($4,439), improvements ($9,255), prior equipment ($15,442), and new PEGPETIA equipment ($7,103). The total basis of depreciable assets at year-end was $289,033 with accumulated depreciation of $133,868. The decrease from prior years reflects the conclusion of shorter-life assets placed in service before 2018 and the addition of new PEGPETIA-funded assets in 2024.”

“The Organization capitalizes land, buildings, improvements, and qualifying equipment at cost. Land is not depreciated. Buildings and improvements are depreciated using the straight-line method over their estimated useful lives. Equipment is depreciated on a straight-line basis over five years. In 2023, PEGPETIA-funded technology and facility upgrades were partially capitalized. Hardware, fixtures, and other tangible assets totaling $35,516 are depreciated over five years. Software and short-term digital licenses totaling $6,496 were expensed as incurred. Total 2024 depreciation expense was approximately $20,797, consisting of $4,439 for the building, $9,255 for improvements, and $7,103 for PEGPETIA equipment. Accumulated depreciation is reflected in the Statement of Financial Position”

“Part XI - Line 4 (Capital for Change Investment): During 2024 the organization increased its impact investment in Capital for Change from $30,000 to $65,000, an additional $35,000 funded from board-designated cash reserves. The investment is recorded at cost and reported on Part X Line 12 (Investments - Other). This change is reflected as an adjustment to net assets on Part XI Line 4.”

“Part XI - Line 5: The organization reported a change in the fair value of its investment fund ("Freeman's Purse Fund") held at The Community Foundation. For the year ended December 31, 2024, the fund experienced an unrealized market value decrease of $1,587, which is reflected as a reduction in net assets on Line 5. This change does not affect the organization's revenues or expenses and corresponds to the year-end valuation difference provided by the Foundation.”

“Part XI, Line 9 - Other Changes in Net Assets or Fund Balances Line 9 reflects non-operating changes in net assets totaling $68,705. These changes include: $36,732 of capital additions for the PEGPETIA equipment purchase, which was capitalized and will be depreciated over five years; and $33,413 representing the net increase in program-related investments, including additional funding for Capital for Change and loss in Freeman's Purse Fund. Together, these adjustments reconcile the beginning net assets of $405,139 and current-year operating increase of $18,312 to the year-end net assets of $492,156, consistent with Part X, Line 32 (Column B).”

“Regarding schedule b - schedule of contributors: the grants from cable subscribers is income received from comcast and frontier communications. The public utilities regulatory authority, formerly called the department of public utility control, in the state of connecticut requires a portion of the cable bill fund the operation of non-profit public access stations. In effect all of the cable subscribers in wallingford, ct are donors to the wallingford public access association, inc”