The Arc Mercer Inc.

“The organization follows fasb asc, transfers of assets to a not-for-profit organization or charitable trust that raises or holds contributions for others. This standard provides guidance for accounting in the case where a "resource provider" (nonprofit entity) transfers assets to a community foundation, but specifies itself or its affiliate as the beneficiary of the assets. The transaction is deemed to be reciprocal because at the time of the transfer, the nonprofit entity expects to receive future distributions because it specifies itself as a beneficiary, and by acceptance of the transfer, the community foundation agrees to make distributions to the nonprofit entity. Because the transaction is deemed to be reciprocal, the nonprofit entity should recognize an asset and the community foundation should recognize a liability. At june 30, 2024 and 2023 the organization recognized a beneficial interest in assets held by the princeton area community foundation. Amounts reported in the statement of financial position represent the net cumulative transfers by the organization to the princeton area community foundation (the "foundation"), as well as net investment earnings thereon. The fair value of these investments totaled $4,275,840 and $5,034,586 at june 30, 2024 and 2023, respectively. The foundation holds and invests the funds on behalf of the organization. The foundation has no variance power over the funds. Instead, the funds are distributed to the organization upon request to the foundation.”

“The organization is recognized by the internal revenue service as a nonprofit organization under internal revenue code section 501(c)(3) and is thereby exempt from federal income taxes on related income. The organization is also exempt under title 15 of the state of new jersey corporations and associations not for profit act. Accordingly, no provision for federal or state income taxes has been presented in the accompanying financial statements. The organization follows provisions of fasb asc, income taxes. The standard prescribes a minimum recognition threshold and measurement methodology that a tax position taken or expected to be taken in a tax return is required to meet before being recognized in the financial statements. It also provides guidance for derecognition, classification, interest and penalties, accounting in interim periods, disclosure, and transition as they relate to those positions. The organization does not expect a significant increase or decrease to the total amounts of unrecognized tax positions during the fiscal year ended june 30, 2024. However, the organization is subject to regular audit by tax authorities, including a review of its nonprofit status, which management believes would be upheld upon examination. The organization also believes that it has appropriate support for the positions taken on its tax returns. Nonetheless, the amounts ultimately paid, if any, upon resolution of the issues raised by the taxing authorities may differ materially from the amounts accrued for each year, if any. As required by law, the organization files informational returns with both federal and new jersey state authorities on an annual basis. These returns are subject to examination by these authorities within certain statutorily defined periods for federal and for new jersey state.”

“Fundraising expenses 44,742.”

“Fundraising expenses 44,742.”