Triangle Club Inc.

“The Organization completed a Capital Campaign in 2003, which included an agreement with the Community Foundation for Greater Atlanta, Inc.(the "Foundation") whereby the Foundation collected the public contributions and conservatively invests funds received for the Campaign. The Campaign is designed by multiple donors for current and future repairs and improvements to the Club property and to supplement any cash shortfall the Club might encounter during normal operating activities. The Club does not have variance power over the use of these funds, and therefore does not record the activity in the accompanying financial statements. The Foundation maintains ownership rights to these funds, and grants funds to the Club if the Club applies for funds, and application is approved by the Foundation. The Foundation granted $21,438 to the Club during 2021, which was used for normal operating activities during 2021. The Foundation holds Campaign assets of approximately $473,000 in an endowment fund for repairs and improvements as of December 31, 2021.”

“The Organization is exempt from income taxes under Section 501(c)(3) of the Internal Revenue Code. Accordingly, no provision for income taxes has been reflected in the accompanying financial statements. The Organization annually evaluates all federal and state income tax positions. This process includes an analysis of whether these income tax positions the Organization takes meet the definition of an uncertain tax position under the Income Taxes Topic of the Financial Accounting Standards Codification. In the normal course of business, the Organization is subject to examination by the federal and state taxing authorities. In general, the Organization is no longer subject to tax examinations for tax years ending before December 31, 2018.”

“$77,000 OF IN-KIND RENT.”

“$77,000 OF IN-KIND RENT.”