Capital Stage Company

“During the year ended August 31, 2017, the Organization was awarded a $15,000 endowment from the Sacramento Region Community Foundation (Foundation). The award states that the endowment proceeds are meant to exist in perpetuity to provide long-term sustainability of Capital Stage Company. Only the spendable amount as determined by the Foundation's Board of Directors is available for distribution annually. The spendable amount is calculated by taking the trailing average balance of the fair market value of the endowment fund over the last twelve quarters (or since inception for funds less than three years old), and applying the average balance to the current year's spending percentage, which was 4.00% for the year ending August 31, 2024 and 2023, respectively. At August 31, 2024 and 2023 the calculated spendable amount was $760 and $730, respectively. A distribution of $760 and $730 were made for the year ended August 31, 2024 and August 31, 2023, respectively. Administrative fees of $194 and $180 were paid for the year ended August 31, 2024 and August 31, 2023, respectively. The Organization has recorded a beneficial interest in assets held by the Foundation totaling $19,524 and $18,742 at August 31, 2024 and 2023, respectively.”

“The Organization, pursuant to a determination letter from the Internal Revenue Service, is exempt from Federal and State income taxes under Section 501(c)(3) of the Internal Revenue code and Section 23701(d) of the California Revenue and Taxation Code. The accounting standard on accounting 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 Foundation may recognize the tax benefit 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 Organization 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 at August 31, 2024.”

“Cost of Goods Sold $16330 Fundraising Expenses $39188”

“Cost of Goods Sold $16330 Fundraising Expenses $39188”