The Arc Warren County Chapter Inc

“The organization is a not-for-profit organization that is exempt from income taxes under section 501(c)(3) of the internal revenue code and classified by the internal revenue service as other than a private foundation. The organization is also exempt under title 15 of the state of new jersey corporations and organizations not-for-profit act. Accordingly, no provision for federal or state income tax has been presented in the accompanying financial statements. The organization follows the provisions of fasb accounting standards codification, 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. The organization does not expect a significant increase or decrease to the total amounts of unrecognized tax positions during the year ended december 31, 2013. However, the organization is subject to audit by tax authorities, including a review of its nonprofit status which management believes would be upheld upon examination. The organization 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. As required by law, the organization files informational returns with both the federal and new jersey state governments on an annual basis - form 990 with the internal revenue service, and form cri-300r with the state. The federal return is subject to examination by authorities within three years from the latest filing date.”

“Special fundraising event expenses 40,082.”

“Special fundraising event expenses 40,082.”