America on Wheels Inc.

“The collections, which were acquired through purchases and contributions since the organization's inception, are not recognized as assets on the statement of financial position. Each of the items are cataloged, preserved, and cared for, and activities verifying their existence and assessing their condition are performed continuously. Purchases of collection items are recorded as decreases in unrestricted net assets in the year in which the items are acquired or as temporarily or permanently restricted net assets if the assets used to purchase the items are restricted by donors. Contributed collection items are not reflected on the financial statements. Proceeds from de-accessions or insurance recoveries are reflected as increases in the appropriate net asset classes and used to purchase new collection items.”

“Income from endowments is to be used to support general operations.”

“The organization is exempt from federal income taxes under the provision of section 501(c)(3) of the internal revenue code. Uncertain tax positions are evaluated in accordance with fasb asc 740-10, accounting for uncertainty in income taxes - an interpretatiion of fasb no. 109. Fasb asc 740-10 clarifies the accounting for uncertainty in income taxes recogniized in the organization's financial statements and prescribes a recognition threshold of more-than-likely-than-not to be sustained upon examination by the appropriate taxing authority. Measurement of the tax uncertainty occurs if the recognition threshold has been met. Fasb asc 740-10 also provides guidance on derecognition, classification, interest and penalties, accounting in interim periods, and disclosure. The organization had no material unrecognized tax benefits or accrued interest or penalties. The organization files its 990 with the united states internal revenue service and with the bureau of charitable organizations in pennsylvania. The years ending december 31, 2013, 2014 and 2015 are open for examination by taxing authorities, generally for three years after they were filed.”

“Cost of goods sold 12,295. Donated assets in-kind donations 11,851.”

“Cost of goods sold 12,295. In kind donations 6,436.”