Peaceful Living

“Peaceful living acts as a rep payee for ssi funds for several clients. The majority of the ssi funding goes toward the clients' room and board with the remaining maintained for personal spending items. Separate bank accounts are kept for each individual.”

“The board of directors has established two endowment funds: 1. General endowment: established for the purposes of creating belonging for individuals with intellectual disabilities and autism within a faith community; enhancing programs, encouraging innovation, developing employees; and sustaining the physical plant, and, 2. Revolving growth fund: established to allow for internal loans to provide financial stability upon opening new sites when there is a significant wait time for state program funding. As required by generally accepted accounting principles, net assets associated with endowment funds, including funds designated by the board of directors, are classified, and reported based on the existence or absence of donor-imposed restrictions. The endowment fund is comprised of funds restricted by the donors in perpetuity and for programs. The board of directors has interpreted law as requiring the preservation of the fair value of the original endowment gifts, absent donor stipulations to the contrary. As a result, the organization classifies as net assets with donor restrictions (a) the original value of gifts donated to the perpetual endowment and (b) accumulations to the perpetual endowment made in accordance with the direction of the donor at the time the accumulation is added to the fund. The primary objectives of fund management are to (1) ensure the safety of the principal gifts, (2) provide a modest current income, and (3) ensure long-term growth. To achieve these objectives, peaceful living has adopted an investment policy that attempts to preserve the real purchasing power of the principal and provide a stable source of perpetual financial support. Endowment assets may be invested in cash, certificates of deposit, or other similar investments with the intention of preserving the principle until the fund is of a sufficient size to warrant investment in a broadly diversified portfolio, including equity and debt securities. The funds are currently invested in savings accounts with all net investment income credited to the fund as restricted as to purpose. The organization considers the following factors in determining whether to appropriate or accumulate donor-restricted endowment funds: (1) the duration and preservation of various funds, (2) the purposes of the donor- restricted endowment funds, (3) general economic conditions, (4) the possible effect of inflation and deflation, (5) the expected total return from income and the appreciation of investments, (6) other resources of the organization, and (7) the organization's investment policy. The general endowment has a discretionary spending policy of appropriating for distribution or expenditure each year 3% to 7% of the arithmetic mean (average) of the market value of the fund for the previous three fiscal years, less the original principal balance. It is the intent that no withdrawals shall be made prior to the fund reaching 100,000, however the endowment committee may call for distributions at any time. Distributions shall be used for program quality and innovation, developing leadership capacity, and purchasing, maintaining and enhancing physical plant. The revolving growth fund has a spending policy that allows for loans as needed to provide cash flow at the opening of new programs or sites. Loans are to be paid back with interest on a specified basis. The general endowment may be terminated due to lack of assets or at the recommendation of the endowment committee and at 75% approval from the board of directors, at which point the remaining principal and investment income will be used in keeping with the overall purpose of the fund.”

“The organization is exempt from federal income taxes under provisions of section 501(c)(3) of the internal revenue code, and from pennsylvania taxation under the applicable provisions of the commonwealth's non-profit organization statutes. The organization utilizes asc 740-10, accounting for uncertainty in income taxes, as it relates to uncertain tax positions. Management has reviewed its current and past federal and state income tax positions and has determined that the tax positions taken are certain and there is no likelihood that a material tax assessment would be made if the respective government agencies examined tax returns subject to audit. Accordingly, no provision for the effects of uncertain tax positions has been recorded, nor have any related interest and penalties been accrued. The irs and state taxing authorities retain the right to review filed tax returns, generally for three years after they were filed. However, peaceful living is no longer subject to income tax examinations for years prior to 2019, is not currently under audit, and has not been contacted by any of these tax jurisdictions.”