Tabor Community Services Inc

“As a component of program activities, the organization aids clients in the protective payee services with budgeting and cash management. As a result, clients deposit funds with the organization and the organization disburses the funds in accordance with plans established by the organization's case manager/counselor and the client. In addition, the organization has received funds to disburse to participants in matched savings program and to provide client assistance grants under the shelter to independent living, community housing solutions, and chart programs.”

“Intended uses for the endowment funds include receiving immediate or deferred charitable gifts designated to be held as endowment or board designated quasi-endowment funds to support the mission of the organization set forth in the bylaws and to support the program and capital needs of the organization.”

“The organization adheres to the provisions of financial accounting standards board (fasb) codification 740, income taxes (asc 740). Asc 740 establishes rules for recognizing and measuring tax positions taken in an income tax return, including disclosures of uncertain tax positions (utps). Asc 740 mandates that organizations evaluate all material income tax positions for periods that remain open under applicable statutes of limitation, as well as positions expected to be taken in future returns. The utp rules then impose a recognition threshold on each tax position. A company can recognize an income tax benefit only if the position has a "more likely than not" (i.e., more than 50 percent) chance of being sustained on the technical merits. For the years ended june 30, 2024 and 2023, the organization has taken no material tax positions on its applicable tax filings that do not meet the more likely than not threshold. As a result, no amounts for uncertain tax positions have been included in the combined financial statements. Management believes the organization is not subject to income tax examination for years prior to 2021.”